For the three months that ended June 30, analysts, on average, forecast Morgan Stanley to report earnings of 46 cents a share, according to data from Thomson Reuters. In the year-ago period, the investment bank had a loss of $1.10 a share. Morgan Stanley (MS) is expected to swing back to profitability in the 2Q [...]
Goldman Sachs Group Inc. said Tuesday that its second-quarter profit tumbled 82%, crippled by its settlement with the Securities and Exchange Commission, the U.K. bank payroll tax and sharp revenue drops in its trading and investment banking units. Quarterly profit at the investment bank fell to $613 million, or 78 cents a share, from $3.44 [...]
The implosion of Lehman Brothers was in part triggered by excessive capital demands from JP Morgan Chase and Citigroup, and in part by the manipulation of its balance sheet by leading directors, a wide-ranging official report into the investment bank’s collapse has found.
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