Goldman Sachs posts 20% fall in profits; US-China trade deal hopes grow – business live

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12.53pm BST

Goldman Sachs’s investment banking division had a quarter of two halves, today’s financial results show.

Net revenues in Financial Advisory work surged by 51% in January-March compared to a year ago, due to a rise in mergers and acquisitions.

12.46pm BST

Newsflash: Wall Street titan Goldman Sachs has posted a 20% fall in profits for the last quarter.

“We are pleased with our performance in the first quarter, especially in the context of a muted start to the year. Our core businesses generated solid results driven by our strong franchise positions. We are focused on new opportunities to grow and diversify our business mix and serve a broader range of clients globally.

With improving momentum across our businesses, we are confident that Goldman Sachs will generate attractive returns for our shareholders.”

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Source: The Guardian
Goldman Sachs posts 20% fall in profits; US-China trade deal hopes grow – business live