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Goldman Sachs reports a sharp fall in second-quarter profits

Goldman Sachs has reported an 82% drop in net income - to $613 million, compared to the previous year.

The Wall Street giant's profits were hit by one-off charges - a record fine in the US over fraud charges, and a UK tax on bank bonuses.

Nevertheless, Goldman staff earned on average $273,000 each for the first six months of the year.

Michelle Fleury reports.

  • 20 Jul 2010