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In rare fumble, Goldman stuns Wall Street with weak trading


By Olivia Oran and Sruthi ShankarREUTERS - Goldman Sachs Group Inc fell short of earnings expectations on Tuesday due to a drop in quarterly trading revenue, prompting analysts to demand explanations for underperformance in an area where the bank usually outshines rivals.Newly appointed finance chief R. Martin Chavez said Goldman's clients traded less with the bank because markets were calmer and because it does not lend as much as competitors. Banks with bigger balance sheets, like JPMorgan Chase & Co, tend to profit not only from financing corporations but from capturing hedging and other ...

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First Published: Tue, April 18 2017. 22:20 IST