Goldman Sachs

Digging Your Own Hole

A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE SEARCH BUSINESS WEEK AHEAD 17 OCT FOR ALL IMAGES
A few days ago, Goldman’s president Gary Cohn announced that America’s banks have never been in such good shape.
  • Why it matters

    Why it matters

    The embattled Deutsche Bank is considering a partial withdrawal from the U.S. investment banking market, which would mean giving up market shares on its already-booming U.S. competitors’ home turf.

  • Facts


    A partial withdrawal from the U.S. investment banking market could help Deutsche Bank, once among the world’s top five investment banks, reach a settlement with the U.S. Justice Department and lower a looming $14 billion fine.

    US investment bank Goldman Sachs has reported a 58% rise in profits for the third quarter of 2016. Its earnings jumped to $2.1 billion (£1.9 billion) in the three months to the end of September.

    Deutsche Bank analysts on average expect a 2016 net loss of €1.3 billion, or $1.4 billion, and a third-quarter loss of €605 million.

  • Audio


  • Pdf

There’s no end to the fireworks. Last week Bank of America and JP Morgan published outstanding results, and on Monday it was the turn of Goldman Sachs. Faced with this spectacle, an observer could be forgiven for asking the simplistic question: How is this possible?

After all, the newspapers are full of reports about bank crises. Basic conditions are bad: Rock-bottom interest rates are eating up margins. Trading is down and markets are unpredictable. On some days, all the agitation about Deutsche Bank is reminiscent of the financial crisis.

But the news from America is quite different. Revenues are up, and stock prices are climbing.

Want to keep reading?

Subscribe now or log in to read our coverage of Europe’s leading economy.