Goldman Sachs (GS) reported sharp declines in third-quarter earnings and revenue today, hurt by slower trading activity over the summer, but its profits still easily exceeded analysts’ average forecast. Wall Street’s top investment bank said net income fell to $1.9 billion, or $2.98 a share, from $3.19 billion, or $5.25, earned in last year’s third [...]
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The bank’s mortgage and credit losses have eased this year as the economy has improved. But its loan book is not growing, raising questions about where future profit growth will come from. JP Morgan shares climbed slightly in premarket trading after the second-largest U.S. bank by assets reported third-quarter net income of $4.4 billion, or [...]
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Samsung Electronics Co. will delay the introduction of its Galaxy Tab tablet computer in South Korea to equip the device with better localized applications for the domestic market, the company said. Samsung will push back its initial plan to show the product to the local media on Oct. 14, the Suwon, South Korea-based company said [...]
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Annals of Improbable Research and friends announced the 2010 winners of the Ig Nobel Prize at Harvard University’s Sanders Theater. Winners below: ENGINEERING PRIZE: Karina Acevedo-Whitehouse and Agnes Rocha-Gosselin of the Zoological Society of London, UK, and Diane Gendron of Instituto Politecnico Nacional, Baja California Sur, Mexico, for perfecting a method to collect whale snot, [...]
This is what’s in the news for Wednesday, September 1st. the Wall Street Journal reports that Burger King (BKC) is in talks with private-equity firms over a possible sale. The status of the talks is unclear but British private equity firm 3i Group PLC is said to be an interested party…the New York Post reports [...]
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