Markets shake off losses, as UK wage growth accelerates - business live
(The Guardian Business News)

British pay packets are growing at their fastest rate since the financial crisis, as firms struggle to recruitBreaking: UK basic pay growth jumps to 3.1%But wages still below pre-crisis levelsGovernment: Pay is picking upThe key chartsEmployment dipped a littleMerlin: We´re having to pay staff more 1.00pm BST Also just in: one of Goldman Sachs key trading divisions has just suffered a chunky drop in takings.`We delivered solid results in the third quarter driven by contributions from across our diversified client franchise. Year-to-date earnings per share is the highest in our history and year-to-date return on equity is the highest in nine years, notwithstanding our continued investment in growth opportunities.We remain well positioned to continue delivering for our clients and shareholders.`Goldman Sachs made a banker its CEO, instead of a trader, and its first earnings report investment banking beats and trading disappoints. Transition complete.A bad quarter for Goldman`s FICC business to disappoint expectations as new CEO David Solomon -- an investment banker by background -- takes the reins...$GS #commoditieshttps://t.co/s2atuxl9W3 pic.twitter.com/2rAtPGREOO 12.31pm BST Just in: Profits at Wall Street bank Morgan Stanley have jumped by 19%.`We produced strong results across the franchise. Despite the seasonal summer slowdown in the third quarter, we reported solid revenue and earnings growth.`Morgan Stanley`s dealmakers are on a roll: The bank reports the sole rise in investment banking fees across Wall Street so far, traders also beat expectations. Shares are up in early trading. $MSMorgan Stanley beats earnings in a now-predictable, even boring, way: everything sorta worked. Wealth mgmt hits record revenues, trading & investment banking hold up. https://t.co/9ex6PJNWuJ $MS Continue reading...