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Finance Latest News: Goldman's Profit Doubles, Helped by Underwriting

Goldman Sachs says its second-quarter profit doubled, boosted by a surge in stock and bond underwriting. In a statement, CEO Lloyd Blankfein called the quarter "solid," especially considering the "mixed economic sentiment." Massachusetts Democratic Senator Elizabeth Warren is one of four senators who recently introduced the 21st Century Glass-Steagall Act, which, like the original 1933 statute, would separate commercial banking from investment banking in order to reduce big bank risks. U.S. consumer prices rose more than expected in June as gasoline prices jumped, but underlying inflation pressure remain benign against the backdrop of lukewarm domestic demand.
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