Goldman Sachs sees profits jump on stronger trading

US banking giant Goldman Sachs has reported a sharp rise in profits thanks in part to an improvement in trading activity at its investment banking arm.

US regulator sues 16 banks for alleged Libor rigging

A US regulator has sued 16 banks for allegedly manipulating the London interbank offered rate (Libor).

JP Morgan and Wells Fargo post big jump in profits

JP Morgan has recorded a profit of $6.5bn (£4.3bn) for the second quarter of 2013, up 31% from a year ago.

Morgan Stanley has seen its second quarter revenues rise by 17%, beating market expectations.

Morgan Stanley has seen its second quarter revenues rise by 17%, beating market expectations.

The US bank's net revenues totalled $9.3bn (£5.7bn) in the three months to 30 June, up from $8bn a year earlier.

Morgan made a net loss of $558m, or 38 cents per share, during the quarter. However, the loss was caused by a one-off $1.7bn charge, without which Morgan would have made a profit of 64 cents.

The charge was caused by an investor converting its Morgan shares.