JPMorgan profits fall
Tuesday, 15 July 2014
US banking giants JPMorgan Chase and Goldman Sachs have seen mixed results from their investment businesses. JPMorgan reported an 8-per cent fall in second-quarter profits after declines in its securities trading business. Net income in the three months to the end of June was $6 billion (£3.5 billion) - a fall of $500 million compared with a year earlier. But Goldman Sachs saw a 5-per cent profit rise after higher revenues from its investing and lending business. The bank earned $1.95 billion in the three months to 30 June, up from $1.86 billion in the same period a year earlier, according to a news agency.