About: http://data.cimple.eu/news-article/90ba42ae45213b052d88958c08ccbe17b137d5015550a7deb3b23c82

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About: http://data.cimple.eu/news-article/90ba42ae45213b052d88958c08ccbe17b137d5015550a7deb3b23c82 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Goldman Sachs reported a steep drop in first-quarter profits Wednesday as it set aside funds for bad loans due to coronavirus shutdowns, even as upheaval in markets boosted its trading business. The investment banking giant reported profits of $1.1 billion, down 49 percent from the year-ago period. Revenues dipped one percent to $8.7 billion. Goldman set aside $937 million during the quarter to deal with potential defaults, citing "continued pressure in the energy sector and the impact of the Covid-19 on the broader economic environment." The move follows similar announcements from JPMorgan Chase and other large banks, which are girding for a US recession that some fear could be deep and prolonged. The shock from the coronavirus crisis had a feast-or-famine impact of many of Goldman's divisions. On the positive side, the firm enjoyed double-digit revenue boosts to fixed income and equity trading, and won the bank "significantly higher" revenue in corporate lending and underwriting. But Goldman suffered an operating loss in its asset management business due to losses in equity and debt investments. The firm also saw a big drop in revenues tied to financial advising for corporate mergers. Shares fell 1.99 percent to $174.80 in pre-market trading. jmb/dw
schema:headline	Goldman Sachs reports 49% drop in 1Q profits to $1.1 bn
schema:mentions	JPMorgan Chase Deutsche Welle Stock Goldman Sachs Recession Coronavirus Coronavirus disease 2019 Fixed income Underwriting 49 Percent Asset management Investment banking Energy industry
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-15 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	64 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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