Goldman Sachs announced its first quarterly loss in six years on Wednesday as a one-off hit from the Trump administration’s tax overhaul wiped out profits.
THE LONDON offices of US banks have been paying their senior bankers considerably more than British lenders according to newly-published analysis, with American firms expected to maintain their lead in the upcoming bonus season.
Investment banks earned a record of nearly $104bn (£76.7bn) in fees globally last year from work advising companies on more than $3.5tn worth of takeovers and mergers.
Goldman Sachs has said Donald Trump’s radical US tax changes will knock about $5bn (£3.7bn) off its profits this year.
Barclays has said Donald Trump’s US tax changes will knock about £1bn off its profits.
There is a complacency in the air as we stumble into 2018.
Smart move by the Bank of England.
HSBC has avoided the threat of prosecution in the US over allegations that its lax controls allowed Mexican drug traffickers to launder cash through the bank.