Goldman Sachs quarterly profits fall to $916m

In the three months ending 30 June, its net income was $916m (£588m), compared with $1.95bn the previous year.

 

The Wall Street giant reported $1.45bn in legal costs, including housing repossessions and regulatory matters, up from $284m in 2014.

Its net revenue also fell to $9.07bn from from $9.12bn the previous year.

Chief executive Lloyd Blankfein said: "While uncertainty weighed on investors' level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity."