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 corners of the real 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.Trading has generally been a strength for large banks during the pandemic, boosting commission fees as markets have swerved. Volatility “declined modestly” in the third quarter, Goldman said.Net income…

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