EARNINGS

GOLDMAN 2ND-QUARTER NET MORE THAN DOUBLES, LED BY TRADING Goldman Sachs Group Incorporated, the world’s biggest securities firm by market value, said fiscal second-quarter earnings more than doubled. The company’s shares fell for a second day on concern that slumping stock markets and rising interest rates will limit profit growth. Net income climbed to $2.31 billion, or $4.78 a share, in the quarter ended May 26, capping the most profitable first half for any firm in the history of the securities industry. Revenue gains in equity and fixed-income trading and in stock underwriting led the increase, and earnings were boosted by the sale of a power plant.

– Bloomberg News

COMMODITIES

GOLD HAS BIGGEST DECLINE IN 15 YEARS Gold had its biggest plunge in 15 years, falling below $600 an ounce, and copper tumbled to a seven-week low as investors bailed out of commodities and equities on concern about rising global interest rates. Metals fell for a fourth straight session, the longest slide in three months. Gold for August delivery fell $44.50, or 7.3%, to $566.80 an ounce, the biggest percentage drop since January 17, 1991.

– Bloomberg News

IN THE COURTS

DOCTOR, CONSUMER GROUP SUE KFC LOUISVILLE, Ky. – A doctor and a consumer group have sued KFC in an effort to stop the chicken chain from cooking with high-fat partially hydrogenated oil. Dr. Arthur Hoyte, a retired physician from Rockville, Md., and the Center for Science in the Public Interest, want a judge to order Kentucky Fried Chicken to use other types of cooking oils or make sure customers know about trans fat content immediately before they make a purchase. KFC spokeswoman Laurie Schalow called the lawsuit frivolous and said the company will fight it in court.

– Associated Press