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Wall Street bonuses likely to plunge as trading revenue drops

From reuters.com

Wall Street bankers and traders are likely to get smaller bonuses this year as trading revenue plunges. Goldman Sachs (GS.N) said on Thursday that it set aside 16 percent less money for compensation in the third quarter compared with the same period in 2014. The fourth quarter, when banks determine how much they will pay for holiday bonuses, may not bring much relief for employees. JPMorgan Chase & Co. (JPM.N) CFO Marianne Lake said on Tuesday that "markets are pretty quiet" so far this month and analysts may be too optimistic in their forecasts for the last three months of the year. JPMorgan on average is expected to ... (full story)

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