Goldman Sachs, Investment Banking | featured news

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

Goldman Sachs Group Inc may cut $1.45 billion in expenses by year's end, $250 million more than it indicated in July, in a move that could lead to more job cuts, according to The New York Times.

In a civil suit filed Friday, the S.E.C. accused the investment bank of securities fraud over a deal in which Goldman profited from bets against products it sold to customers.

Goldman Sachs Group Inc.'s third-quarter earnings more than tripled from the depths of the financial crisis as income from the company's trading operations offset a drop in its investment banking business....