Goldman Sachs profits surge despite pandemic

New York (AFP) – Goldman Sachs reported strong third-quarter results Wednesday, nearly doubling profits and reflecting little of the vulnerability that has plagued other corners of the economy during the pandemic.Key strengths to the money machine at Wall Street’s iconic investment bank included a “significant” increase in initial public offerings and a surge in revenues from its markets division.The strong Goldman numbers easily eclipsed mixed results from Bank of America and Wells Fargo, which are much more heavily focused on consumer lending. Both Bank of America and Wells Fargo saw a profi…

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