New York — Goldman Sachs Group was stung by slumping investments in about big names in the third quarter, hurting its most profitable business line.

The firm took a $267m hit in the period on public equity investments such as ride-hailing company Uber Technologies, Avantor and TradeWeb Markets. The bank probably took a writedown on its stake in WeWork after plans for an initial public offering collapsed. The losses fuelled the worst performance in more than three years for the bank’s equity wagers in public and private companies...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now