Goldaman Sachs is poised to see a slide in profits due to a plunge in trading volumes and a dearth of takeover deals.
Analysts forecast that the Wall Street giant’s profit will drop to about $7.6bn (£5.8bn) in the three months to the end of June, down from more than $9bn in the same period last year. The disappointing figures will heap further pressure on boss Lloyd Blankfein, who presided over a 60% drop in profit during the first three months of the year — one of the bank’s worst quarterly results since the company went public in 1999. Shares in the investment bank have fallen by 12% in the past year.
Banks have struggled to maintain bumper profits after fears of a downturn in