The Ups and Downs of Goldman Sachs Two Quarters

first_img The Ups and Downs of Goldman Sachs Two Quarters Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Ups and Downs of Goldman Sachs Two Quarters The first and second quarters of 2016 told two different stories for Goldman Sachs as far as earnings and overall business operations: in the first quarter, everything was down; in the second quarter, everything is back up.According to the investment banking firm’s Q2 2016 earnings report released Tuesday, Goldman Sachs reported net earnings of $1.82 billion for Q2—an increase from $1.14 billion in the first quarter and from $1.05 billion in Q2 2015. Diluted earnings per common share in Q2 were $3.72, compared to $1.98 in the year-ago quarter and $2.68 for Q1 2016.Whereas challenges presented headwinds to nearly all of Goldman Sachs’ businesses in Q1, things ran somewhat more smoothly in Q2. There were still challenges in Q2 however; low interest rates, political uncertainty about global growth continued to pose challenges to Goldman Sachs’ Fixed Income, Currency, and Commodities Client Execution segments.“Despite the uncertainty created by Brexit, we achieved solid results by continuing to serve our clients across our diversified franchise and by managing our business efficiently,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs.Also, Goldman Sachs announced in January that it had agreed to a $5 billion settlement in April with the Department of Justice over the sales of toxic mortgage-backed securities prior to the crisis; the settlement was made final in April. The firm reported net earnings of only $765 million in the fourth quarter of 2015 immediately after making the announcement about the settlement.A major difference in the earnings of Goldman Sachs between the second quarter a year ago and Q2 this year was lower net provisions for litigation and regulatory proceedings for Q2 this year ($126 million). Last year during the second quarter, the firm recorded $1.45 billion in net provisions for mortgage-related litigation and other regulatory matters. Non-compensation expenses were $2.14 billion in the second quarter, a decline of 40 percent from Q2 2015 (and an increase of 2 percent from Q1 2016).“The decrease compared with the second quarter of 2015 primarily reflected significantly lower net provisions for mortgage-related litigation and regulatory matters, which are included in other expenses,” the Q2 earnings report stated. “In addition, market development expenses were lower compared with the second quarter of 2015.”Click here to see Goldman Sachs’ complete Q2 earnings report. July 19, 2016 1,715 Views Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, TX. Born and raised in Texas, Kendall now works as the online editor for DS News. About Author: Kendall Baer Demand Propels Home Prices Upward 2 days ago Previous: Distressed Sales May Reach “Normal” By 2017 Next: Clayton Holdings Creates New Option for ‘Fix and Flip’ Lending Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Tagged with: Earnings Goldman Sachs Mortgage-Backed Securities Profitscenter_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Share Save Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Earnings Goldman Sachs Mortgage-Backed Securities Profits 2016-07-19 Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Odds & Ends: Javier Munoz & Lexi Lawson Talk ‘Sexy Hamilton’ & More

first_img Javier Muñoz Lexi Lawson Laura Osnes & Will Swenson Set for Blueprint SpecialsTony nominees Laura Osnes and Will Swenson will star in a revival of the Blueprint Specials, a series of lost WWII-era musicals composed principally by Broadway legend Frank Loesser. Helmed by Tom Ridgely and brought to us courtesy of Waterwell, the Intrepid Sea, Air & Space Museum and The Public Theater’s Under the Radar Festival, additional casting will be a combination of civilian artists and U.S. Military Veterans. The production is scheduled to play six performances on the hangar deck of the Intrepid Sea, Air & Space Museum from January 6, 2017 through January 11.Release Date Set for Alexandra Silber’s Fiddler NovelWe now know that Alexandra Silber’s After Anatevka: A Novel Inspired by Fiddler on the Roof, will be released on July 4, 2017. Described as “a sweeping historical novel in the grand tradition of Russian literature that imagines what happens to the characters of Fiddler on the Roof after the curtain falls,” it sounds like a massive undertaking that we can’t wait to get our hands on! The actress is currently playing Tzeitel in the Main Stem revival of the classic tuner, which is scheduled to close at the Broadway Theatre on December 31.Emma Rice to Exit From Shakespeare’s GlobeEyebrows were raised around London’s “Theatreland” today with the announcement that Emma Rice would be departing her position as Artistic Director of Shakespeare’s Globe, which she only assumed this past April. According to a statement, this is because the Globe’s board want to go in a different direction with “designed sound and light rigging.” Rice will remain with the venue through April 2018; her summer 2017 season is set to include productions of Romeo and Juliet, Jessica Swale’s Nell Gwynn, Twelfth Night, Kneehigh’s Tristan & Yseult, Much Ado About Nothing, King Lear, and the world premiere of Tristan Bernays’ Boudica.P.S. Netflix’s Gilmore girls: A Year in the Life will begin streaming on November 25; check out the below trailer, which includes a blink and you miss it shot of Sutton Foster and Christian Borle… Star Files View Comments Hamilton Javier Muñoz & Lexi Lawson from $149.00 Here’s a quick roundup of stories you may have missed today. Javier Muñoz & Lexi Lawson Talk ‘Sexy Hamilton’Javier Muñoz and Lexi Lawson recently assumed the roles of Alexander and Eliza Hamilton, respectively, in Hamilton, and the pair sat down with MetroFocus on October 24 to discuss taking center stage on Broadway. “I was excited. I wasn’t nervous at all,” said Muñoz, which segued into a chat about how he became known as the “sexy Hamilton.” Lawson added: “Just being with everyone night after night is really, really something phenomenal.” Check out the interview below; as you definitely know by now, Lin-Manuel Miranda’s Tony-winning tuner is playing at the Richard Rodgers Theatre. Laura Osnes Related Showslast_img read more

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Expo line train hits two people, causes closure

first_imgA Metro train on the Expo line struck two non-USC individuals on bicycles Tuesday night at Jefferson Boulevard and Flower Street, according to the Los Angeles Police Department Southwest Division and the USC Department of Public Safety.No information was available at the time of publication about the conditions of the victims.Service on the Expo line was interrupted following the crash between the Jefferson/USC station and the 23rd Street station, according to L.A. Metro, but a bus-shuttle service was set up to transport passengers between the stations during the interruption. The Expo line was reopened just after midnight.Traffic on Jefferson Boulevard between Hope Street and Figueroa Street was also halted following the accident.Teresa Juarez, a South Los Angeles resident, said she and her husband came across one of the victims on scene and called 911.“I didn’t know there was a gentleman on the other side,” Juarez said. “So once we called 911, within a few minutes the paramedics were here and they realized there was another gentleman off on the side and I guess he was worse off, I don’t know, I didn’t see him.”last_img read more

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