US - Investment management firm The Goldman Sachs Group Inc has reported a profit of US$879m for its fiscal third quarter, seeing its assets under management soar to a record US$426bn (e348bn).
The figure at the end of the third quarter, ended 27 August, is the result of a 17% increase since a year ago, the company said in a press release.
Goldman Sachs chief executive and chairman Henry M Paulson Jr. said the company had shown strong performance over the year-to-date.
“Although there have been some changes in the environment, this strength continued in the third quarter, as we benefited once again from the breadth of our franchise,” he said.
Fixed income, currency and commodities (FICC) generated net revenues of US$1.87bn, reflecting strong performances across most major businesses, the release said.
Securities services produced record net revenues of US$345m.
Net revenues in equities of US$910m decreased 17% compared with the third quarter of last year, with the drop put down to flat to declining equity prices, further reductions in market volatility and lower customer-driven activity.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.