Source: The Edge Markets
NEW YORK (Jan 15): Goldman Sachs Group Inc’s comeback quarter for trading was marred by a US$1.09 billion legal charge, as the firm gets closer to a settlement of the 1MDB scandal. Profit dropped 24% in the fourth quarter and fell short of analysts’ estimates as the firm bolstered its litigation reserves by the most in four years. That offset a strong showing by Goldman Sachs’s fixed-income traders, who posted a 63% jump in revenue, according to a statement Wednesday that debuted the firm’s new reporting structure.
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