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"We took substantial litigation charges and saw reduced profits in investment banking, leading to a lower quarterly result".
IDC predicts worldwide revenues from the adoption of cognitive systems across industries will experience a near six-fold increase from $8 billion in 2016 to over $47 billion in 2020, with retail and banking leading the charge.
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At the same time, economic downturns squeezed banks, leading to waves of bank failures.
Banks leading initial public offerings are increasingly called upon to also provide financing to their clients.
For Goldman Sachs, the bank leading the I.P.O., the assignment confers prestige and bragging rights.
All sectors posted losses, with shares of banks leading the retreat.
Europeans withdrew gold from American banks, leading the banks to call in their loans to American businesses.
The renowned "bank to wall", a 45-degree bank leading to a vertical wall, may never return.
But for the two banks leading the arrangement of its $61 billion financing, it's possible to pull off.
That practice often understates bad loans, which have worsened at many banks, leading to a second round of losses.
By the close on London, there were widespread falls, with mining stocks, oil shares and banks leading the losers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com