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BBC NEWS | Business | Goldman Sachs reports huge loss

Goldman Sachs has reported a $2.12bn £1.41bn quarterly loss, its first since going public in 1999.

The US banking giants loss for the three months to the end of November was still smaller than had been expected and its shares rose 4% in New York.

During the same period in 2007, Goldman Sachs reported net income of $3.22bn.

Goldman Sachs and rival Morgan Stanley are the only two of Wall Streets original five investment banks still in independent existence.

via BBC NEWS | Business | Goldman Sachs reports huge loss.

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This entry was posted on December 16, 2008 by in Financial Markets, Uncategorized and tagged , .

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