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Goldman Sachs profits fall on weaker bond trading

US bank Goldman Sachs has reported a 7% fall in fourth-quarter profit to $2.3bn after weaker bond trading and a fall in investment banking net revenue.

The bank’s net income fell to $2.17bn (£1.43bn) in the three months to the end of December. However, on the full year, net earnings were up 5% to $8.48bn.

Bank chief executive Lloyd Blankfein said the year had been characterised by “mixed global economic and financial conditions”.