Goldman Sachs Profit Nearly Doubles 
 

The bank's sharply higher profit is the latest confirmation that, even in a pandemic and a recession, Wall Street can still make money.


 
Fed's Clarida Says Continuing Support Will Be Needed to Sustain Recovery 
 

The Federal Reserve Vice-Chairman said the U.S. economy's recovery has been surprisingly strong after a heavy hit earlier in the year, but that continuing support will be needed to recover what was lost so far during the pandemic.


 
Wells Fargo Earnings Drop 56% 
 

The lender said third-quarter profit dropped from a year earlier to $2.04 billion. Still, the results were an improvement from the second quarter, when the bank set aside billions for bad loans and reported a loss.


 
Bank of America Profit Falls 16% 
 

The lender's profit dropped in the third quarter, though the bank indicated that it is well prepared to weather the coronavirus recession.


 
Should Fiscal Policy Get More Chinese? 
 

Chinese public investment is rightly panned as inefficient, but new IMF research suggests the rich world inch a bit further in China's direction.


 
An Unpopular IPO Rule Hands Chinese Banks Big Windfalls 
 

When China rolled out its own Nasdaq-style listings venue, regulators forced investment banks to buy stocks in the companies they took public. That unusual requirement is now paying off big time.


 
BlackRock Bets on U.K. Electric-Vehicle Startup Arrival With $118 Million Investment 
 

The New York-based asset manager is joining Arrival's existing backers-auto manufacturers Hyundai and Kia, as well as U.S. delivery giant UPS.


 
HarbourVest Raises Over $8 Billion for New Secondary Fund 
 

The Boston firm aims to capitalize on a booming market for secondhand fund stakes.


 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services


 
Singapore Central Bank Keeps Currency Policy Unchanged 
 

Singapore's central bank maintained its currency policy unchanged.

(END) Dow Jones Newswires

10-14-20 1615ET