The Police Complaints Authority (PCA) has launched an independent investigation into allegations of misconduct against senior and junior police who were investigating the discovery of marijuana at...
You are here
Morgan Stanley’s profits jump, but Goldman Sachs’ fall
US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year. Goldman Sachs’ net earnings fell to US$2.03 billion from US$2.26 billion after a drop in revenues from its bonds, currency and trading business. However, Morgan Stanley’s profit rose to US$1.45 billion, compared with US$981 million a year ago. Revenues rose in all of its three business segments.
Goldman Sachs makes most of its money from trading and investing in capital markets. In the first quarter, its revenue from fixed income, currency and commodities trading fell 11 per cent to US$2.85 billion compared with a year earlier. “We are generally pleased with our performance for the quarter, given the operating environment,” said the bank’s chief executive, Lloyd Blankfein.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.