Goldman Sachs news covering investment banking deals, trading results, asset management, executive moves, and Wall Street strategy.
Goldman Sachs reported a 29% year-over-year increase in third-quarter net earnings to $5.29 billion, beating forecasts. Total net revenue grew 23% to $18.7 billion, driven by record advisory fees and surging equities financing. CEO David Solomon denied succession rumors, citing the bank's strong positioning amid market uncertainty.
Goldman Sachs CEO David Solomon warned that rising financing needs for AI infrastructure and pressure on interest rates could impact project viability ahead of midterm elections. He urged stronger safeguards and clear human accountability, noting total U.S. data center investments are projected to exceed $10 trillion by 2032.
Dangote Cement Plc has appointed Goldman Sachs and UBS as bookrunners for a secondary share sale on the London Stock Exchange scheduled for November. The transaction aims to raise approximately $1 billion, with current owners divesting about 10% of the company majority-owned by Aliko Dangote.
Goldman Sachs Chief Executive David Solomon has publicly dismissed rumors of an imminent leadership change, asserting that no succession plan is currently active. This statement counters earlier reports suggesting the board intended to replace him with Chief Operating Officer John Waldron by late next year.