Banking and Financial Institutions – Page 231

Goldman Sachs’ Marcus Consumer Banking Move Turns Costly

Goldman Sachs will take a big hit from its ill-fated move into consumer banking, even as its other businesses weaken amid an economic slowdown.

By Rob Copeland and Emily Flitter

Signs of slowing inflation are competing with downbeat company forecasts as earnings season begins.

By Joe Rennison

The bank, the biggest in the United States, reported a large profit in its latest quarter, but said it was girding for a downturn later in the year.

By Rob Copeland

Both banks increased their reserves as protection against deteriorating economic conditions, but signaled optimism about consumer resilience.

By Stacy Cowley