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Goldman third quarter commodity revenue down ’significantly’ on second quarter

Posted on 18 October 2013

Goldman Sachs’ net revenues in commodities “declined significantly” in the third quarter from the previous three months, the bank said on Thursday, but reiterated its determination to remain in the physical trading business.
Speaking on the bank’s third-quarter conference call, Chief Financial Officer Harvey Schwartz said the firm’s commodity business had suffered from a difficult trading environment between June and September, a period when the bank came under intense political and regulatory pressure over its role in the natural resources supply chain………………………………………..Full Article: Source


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