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Goldman profit plunges on weak bond trading, legal provisions

Goldman, the target a government probe over the issue of mortgage bonds leading up the financial crisis, said in May it had raised the top end of its range of “reasonably possible” legal expenses to about $3.8 billion from about $3 billion. The Wall Street bank’s shares were down 1.2 percent at $210.40 in morning trading, even though the earnings – when excluding the provision – exceeded the average analyst

Beijing's battle with bears moves into futures

China’s index futures traders are still betting jittery markets will fall further even as Beijing tries to prop them up, making the futures markets a key battleground in Beijing’s campaign to restore market confidence. Index futures, established in China in 2010, give investors a way to hedge risk, and also provide short-sellers another way to make money in a falling market. Traders note that China’s major future contracts, in particular