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Goldman under pressure, but cost cuts on track

$1 bill Cut by Scissors

Goldman Sachs reported a higher second-quarter profit on Tuesday, as it benefited from a sharp decline in expenses and more activity in some parts of the fixed-income markets, but most of its businesses came under pressure.



Deutsche Bank - Foyer Bridge

People News: AIG, JPMorgan, Deutsche Bank

American International Group, the largest commercial insurer in the U.S. and Canada, named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.

European Flag

Mergers and flotations stop after EU vote

At 3am on June 24, the alarm of one of JP Morgan’s most senior London bankers rang loudly. Vis Raghavan, deputy chief executive and head of banking for JP Morgan’s EMEA division, had set it just in case Britain had made what many bankers believed would be an unthinkable decision to leave the European Union. Within the hour, it became clear that what had seemed impossible just a day ago, was now a certainty.