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Goldman Sachs on Wednesday said earnings fell by a whopping 58% in the second quarter as the Wall Street giant blamed a retreat from consumer businesses and declining investment values for its worst results in three years.

The dreadful performance still managed to fall short of Wall Street estimates — even after Goldman boss David Solomon warned analysts in the run-up to the earnings release that they should lower their expectations.

Goldman reported that it earned $3.08 a share — lower than the $3.18 analysts had predicted.

The bank’s revenue plummeted 8% to $10.9 billion, according to the report.

“This moment in the economic cycle creates meaningful headwinds for Goldman Sachs,” Solomon told analysts on a conference call. “We are making tough decisions that are driving the strategic evolution of the firm. Given both these factors, it should come as no surprise that we’re going to a period of lower results.”

Solomon did highlight seeing positive signs on the horizon in investment banking.

“It definitely feels better over the course of the last six, eight weeks,” Solomon told analysts on a conference call. “This is obviously a tough quarter,” but he added “the environment feels better.”

He cited activity picking up in equity capital markets and a revival of client discussions on mergers and acquisitions.

Goldman shares closed up 1% at $340.55.

“The bar was relatively low heading into the quarter,” wrote Citigroup analyst Keith Horowitz. “When we compare the results against our estimates, we find that core trends were generally positive,” helped by equities financing and investment banking.

The results were the bank’s worst since the second quarter of 2020, when it took writedowns over a corruption scandal linked to Malaysian state fund 1MDB.

Goldman took a $504 million hit tied to its GreenSky business, which facilitates home improvement loans to consumers, and $485 million related to its real estate investments.

Goldman agreed to acquire GreenSky for $2.2 billion in 2021 and later closed the deal at $1.7 billion.

The bank also took $615 million in credit losses including writedowns related to its consumer loans and business.

Goldman’s Marcus unit was also folded into its merged asset and wealth management arm last year, as the investment bank began pulling back from retail banking.

Goldman’s terrible quarter looked even worse compared to rivals JPMorgan Chase, Bank of America and Morgan Stanley, which all reported strong earnings in the past week.

JPMorgan announced it raked in $14 billion in profit in the second quarter despite CEO Jamie Dimons dire predictions for the economy, which has been saddled with sky-high levels of inflation in recent years.

Goldman’s results are likely to ratchet up pressure on Solomon, whose leadership and management style have been called into question by partners and rank-and-file employees.

Last month, The Post was the first to report that Goldman’s board was beginning to re-evaluate Solomon in the wake of an exodus of top talent from the Wall Street firm.

Since Solomon took the helm in 2018, Goldman partners have complained over their skimpy bonuses, his costly venture into consumer banking, and his side hustle as a DJ.

With Post wires

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FSU player was shot in back of head, father says

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FSU player was shot in back of head, father says

Florida State freshman linebacker Ethan Pritchard was shot in the back of the head Sunday night, his father said, and remains in stable condition at Tallahassee Memorial Hospital.

Earl Pritchard told WFTV in Orlando that Ethan Pritchard was shot while driving his aunt home from a family gathering in Havana, Florida, which is about 16 miles from Tallahassee, near the Georgia state line.

“He was actually in the car taking my sister around the corner to her daughter’s house to drop her off,” Earl Pritchard told WFTV. “They turned the corner, and as soon as they turned the corner, they heard gunshots.”

Earl Pritchard said doctors continue to monitor the swelling in Ethan’s head.

An investigation into the shooting by the Florida Department of Law Enforcement and the Gadsden County Sheriff’s Office is ongoing.

Florida State coach Mike Norvell said Wednesday he has been able to briefly visit Ethan Pritchard in the hospital, and he has remained in contact with Earl Pritchard.

“It’s a lot, not going to say it’s not,” Norvell said. “I try to give the players a daily update. … I was able to go by yesterday for a short period of time with limited visitation, just getting a chance to be there for a handful of minutes. It was good to be with him.

“He’s still in stable condition. … We are absolutely praying for him every day and trying to be there for our players, too. Yes, it’s one thing on the field, but it’s also off the field, that’s one of their brothers and a guy they deeply care about. Just working through this part of the tragedy of what it is.”

Pritchard, who is from the Central Florida area, did not play in the Seminoles’ season-opening victory against Alabama.

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DeBoer: Tide can still do ‘some big things’ in ’25

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DeBoer: Tide can still do 'some big things' in '25

Alabama coach Kalen DeBoer still believes he has a good football team, even after last week’s surprising 31-17 loss at Florida State.

The season-opening loss to the Seminoles, who went 2-10 last season, was the Crimson Tide’s fifth loss in their past 10 games under DeBoer, who was hired in January 2024 to replace Nick Saban.

“My message is that our team is, I think we have a good football team that can do some big things still this year,” DeBoer said during Wednesday’s SEC coaches teleconference. “We’ve got to prove it. We’ve got to go do it.”

DeBoer, 50, went 9-4 in his first season as Alabama’s coach, the first time the Tide lost more than three games since Saban’s first team went 7-6 in 2007.

Most alarming to some Alabama fans is that the Tide have lost four times as a double-digit favorite in DeBoer’s first 14 games. They were a 13½-point favorite over Florida State, which ended Alabama’s 23-game winning streak in season openers.

DeBoer said he is trying to stay the course heading into Saturday’s home game against Louisiana-Monroe (7:45 p.m. ET, SEC Network), despite widespread criticism surrounding his program.

After losing to Florida State, the Tide fell from No. 8 to No. 21 in the AP Top 25, their lowest ranking since they were 24th in the 2008 preseason poll.

“To this point, it’s been just me being able to focus on football, and I appreciate that,” DeBoer said.

DeBoer said the Tide won’t have starting defensive lineman Tim Keenan III (ankle) or tailback Jam Miller (collarbone) available to play on Saturday. Sophomore receiver Ryan Williams is also questionable because of a concussion.

DeBoer said Keenan, who had 40 tackles and 2½ sacks last season, was “doing really well” and it wasn’t a long-term injury.

Miller, the Tide’s top returning rusher with 668 yards with seven touchdowns in 2024, might be able to return for a Sept. 13 home game against Wisconsin, DeBoer said.

“Jam is doing really well,” DeBoer said. “Will not be available this week but coming along, again, as good as you could’ve expected. We knew there would be a possibility for next week and that’s certainly still the case.”

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The dating app rapist who faked his death and forged a new identity in Spain

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The dating app rapist who faked his death and forged a new identity in Spain

“Do you recognise this guy?” I ask a Costa del Sol cafe owner as I show him an image of a bald, bearded bodybuilder from Scotland.

He raises his eyebrows and looks back with suspicion.

“I think he sometimes came for coffee,” he replies in broken English before the conversation is quickly shut down.

The bodybuilder is a familiar face in this part of the world – he lived here in the Spanish seaside town of Nerja for almost two years.

He is the fitness-fanatic, social butterfly expat Johnny Wilson. But the truth is, Johnny doesn’t exist.

James Clacher faked his own death in Scotland and set up a new life in Spain
Image:
James Clacher faked his own death in Scotland and set up a new life in Spain

The man behind the made-up name is the violent rapist James Clacher, who faked his own death in Scotland and set up a new life in Spain.

Nerja’s community feels bruised and conned by a serial sex offender who lived under their noses, undetected for so long.

The fake death

At the time of his disappearance in May 2022, Clacher was under investigation for two separate rapes of women he had met on dating app Tinder in 2019 and Bumble in 2020.

James Clacher met a victim through dating app Tinder
Image:
James Clacher met a victim through dating app Tinder

As police worked to put all the pieces of the puzzle together, a missing person poster was issued, describing Clacher as an athletic man who drives a Suzuki Swift.

It warned members of the public not to approach him.

Detectives had earlier discovered his car dumped next to Loch Long in Argyll and Bute. A suicide note was left in the vehicle, and messages had been sent suggesting he was no longer alive.

A missing poster issued by Police Scotland for James Clacher
Image:
A missing poster issued by Police Scotland for James Clacher

It had the look and feel of a suicide.

It was the perfect rural setting, with the rolling hills and very few people around, where a conman could slip away and hope to never be seen again.

The double life

Nerja is a small town with a population of around 22,000. It sits an hour’s drive from Malaga.

Off the beaten track, it’s tucked away at the foot of stunning mountain ranges and has the feel of a more authentic Spanish experience compared to its rivals like Marbella along the coast.

Accents on its beaches are from elsewhere in Spain and continental Europe, rather than a ‘Brits abroad’ vibe.

Nerja is a small town with a population of around 22,000
Image:
Nerja is a small town with a population of around 22,000

To learn how Clacher could slip into this community and create a bogus new identity while being a wanted man, I visit Nerja’s gym.

Workers tell me he trained there every day and describe a “nice man” who was perfectly pleasant, put people at ease and fitted right in.

I am pointed in the direction of a man called Matt, a British expat.

Clacher regularly used Nerja's gym
Image:
Clacher regularly used Nerja’s gym

The pair became friends not long after “Johnny” arrived in Nerja. The relationship began with Johnny touting himself as a so-called nutritionist.

“He came highly recommended,” Matt says. “He was giving me nutritional help, and he said he was in the parachute regiment for ten years and came to Spain for a new start.

“He was a very, very nice guy, very charming, I became quite good friends with him. He invited me hiking with him, he invited me round to his house to eat.”

Asked if any of his new friend’s behaviour was suspicious, Matt says: “He gave no hint whatsoever. But looking back, whenever he sent a picture, he would never have his face visible.

“He was very careful about pictures. Whenever he took a picture, he obviously knew that he was being hunted, and he had to lay low, so he never showed his face.

“I only have one picture of him facing away from me looking up a mountain.”

Several people say Johnny had entered an 18-month relationship with a local woman who had no idea about his real identity or the sexual crimes he had committed on vulnerable women.

She is said to be traumatised by how events unfolded.

‘Johnny the gardener’

I get a tip off that Johnny was employed as a gardener at a local residential complex, and we’re told to speak to a man called Megel.

As he emerges from behind the shutters of a pool bar, Megel shakes his head and speaks to other guests in Spanish when I mention ‘Johnny the gardener’.

The apartment complex where Clacher worked as a gardener
Image:
The apartment complex where Clacher worked as a gardener

The atmosphere changes, and those present close ranks.

A member of staff confirms Johnny’s role on site before we are ushered off the premises.

Elsewhere, we discover he earned cash in hand running yoga classes on the beach in an attempt to stay off the books.

Nerja's community feels bruised and conned by Clacher's lies
Image:
Nerja’s community feels bruised and conned by Clacher’s lies

“This is the best place to be no one,” says local newspaper journalist Eugenio Cabezas, who has worked here for 20 years.

“If you have committed a crime, you can live here and nobody knows you. It is a good place to disappear.”

Journalist Eugenio Cabezas
Image:
Journalist Eugenio Cabezas

The tip-off

The Costa Del Sol has had a reputation over the years as somewhere big British crime bosses would come to hide.

James Clacher was no mafia gangster, but he played the system in Scotland and Spain.

That was until an anonymous person sent an email to Sky News with the title “James Clacher”.

The message, sent on 27 November 2023 at 11.16am, talked about reading news articles on the case.

The tip-off sent to Sky News
Image:
The tip-off sent to Sky News

It stated: “We believe we have seen this man in Nerja… he introduced himself as Jimmy, was Scottish and fit the description.”

The tip-off revealed conversations they had in the local gym and a timeline of three separate encounters or interactions over the space of almost a year.

The police investigation, which had come to a dead end, suddenly had its biggest lead yet.

The UK’s National Crime Agency, along with Spain’s Guardia Civil, went undercover and found their man.

They swooped while Clacher was hanging upside down on gym equipment on the very beach he had created a ‘safe space’ as a yoga instructor.

The moment was captured in dramatic body-cam footage by the Spanish police as the fugitive was tackled to the ground and led off in handcuffs.

Clacher was detained and eventually extradited back to Scotland.

‘He was a complete fantasist’

Matt, the man who thought he was friends with Johnny, speaks of his horror at learning his friendship was a lie.

“I was completely shocked. Completely stunned. I just couldn’t believe it”, he says.

“Being fooled like that by someone, it wasn’t just me. He fooled a lot of people here in Spain as well.

“I had a narrow escape. I am relieved I am away from that situation. He was a complete fantasist.”

The wider expat community in Nerja is shaken.

Clacher was extradited back to Scotland
Image:
Clacher was extradited back to Scotland

Pub landlady Cathy, who has lived here for 40 years, says the story was the talk of the town.

“People were stunned and surprised that this happened in our local community,” she says.

“Somebody who had obviously been living here with us which we had no idea about.

“We don’t have that very much here at all. It’s a very nice, safe, good area of Spain to be in.”

Clacher attacked two women in 2019 and 2020
Image:
Clacher attacked two women in 2019 and 2020

Clacher was detained in May 2024. He denied any wrongdoing when his trial began this August, but was found guilty by a jury.

During his trial, jurors heard how he was “very friendly and chatty” on his extradition flight back to Scotland.

He was said to have discussed how he staged his own death and told of how he “survived on berries and puddle water” while initially on the run.

Clacher was arrested while working out on this apparatus
Image:
Clacher was arrested while working out on this apparatus

Clacher claimed to have travelled from Loch Long to Inverness, then down the east coast of Scotland.

He was then said to have made his way to England before hiding in a truck to get into France.

Once in France, he then said he got his hands on a bike and cycled to Spain.

The Police Scotland officer Clacher spoke to on the flight home told the jury that Clacher revealed he had been fearful his face was becoming known locally in Nerja, so he considered building a kayak that he would paddle to Morocco.

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