Goldman Sachs’ profits plunged two-thirds last quarter, missing expectations and capping a grim year that has forced the bank to embark on its largest cost-cutting exercise since the financial crisis. It was the Wall Street bank’s fifth straight quarter of falling profits and Goldman has…

Tuesday was not the celebration that David Solomon was hoping for. Analysts wished the Goldman Sachs chief executive happy birthday on the bank’s earnings call. There was little to celebrate after that. A deal dearth and Goldman’s disappointing foray into consumer banking could be distilled…

Walt Disney has hit back at Nelson Peltz as the activist investor crusades for a seat on the company’s board, telling shareholders that he “lacks a basic understanding” of the media industry. “Nelson Peltz does not understand Disney’s business and lacks the skills and experience…

The Financial Times is staging an à la carte charity auction of lunches with leading FT journalists. The auction, which runs until January 29, is to raise funds for the FT’s Financial Literacy and Inclusion Campaign (FLIC) charity and its war on financial illiteracy. With 94…

The US Securities and Exchange Commission has sued digital asset-trading group Genesis and Gemini, the crypto exchange founded by the Winklevoss twins, saying its crypto asset-lending programme was not properly registered as a securities offering. The SEC enforcement action announced on Thursday focuses on the…

Warner Bros Discovery is exploring a sale of its music library that could be valued at more than $1bn, according to people familiar with the matter, the latest move by chief executive David Zaslav to reduce debt at the sprawling Hollywood empire. Since taking control…