NEW YORK—Goldman Sachs Group Inc., clobbered by turbulent markets and charges to settle the U.S. government's civil-fraud complaint, posted its lowest earnings since the peak of the financial crisis.
The investment bank reported that second-quarter profit slumped 82% from a year earlier, reflecting a pullback in risk-taking by clients worried about the global economy. Profit was also sideswiped by $1.15 billion in one-time charges to settle a Securities and Exchange Commission case and pay a British tax on bank bonuses.
For Goldman, the disappointing results top off a stunning chapter in the 141-year-old company's history. Five days ago, it agreed ...
No comments:
Post a Comment