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Good news from Goldman Sachs

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Good news from Goldman Sachs

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Goldman Sachs has announced a much higher-than-expected first-quarter profit of 1.66 billion dollars (1.25 billion euros).

The New York based bank also plans to sell five billion dollars worth of new shares to pay back some of the US government bailout money it received. Analysts say that and recent upbeat news from Wells Fargo are signs that the US banking industry is stabilising.