Hello. This article is our on-site version of the FirstFT newsletter. Sign up for the Asia, Europe / Africa or Americas editions which are sent directly to your inbox every weekday mornings.
US Banks Credit Activity Outlook This week, they report their second quarter profits flattened by fewer credit losses than expected during the pandemic.
Analysts’ forecasts compiled by FactSet show that the average quarterly earnings per share of the six largest banks in the United States are expected to increase 116% year-on-year.
However, many of the improvements reflect the expected release of billions of dollars in reserves that lenders have set aside to cover potential credit losses. Income is expected to fall 5% due to slowing capital market activity and weak demand for loans, according to FactSet.
JP Morgan and Goldman will start their earnings season on Tuesday, followed by BofA on Wednesday, Citi and Wells and Morgan Stanley on Thursday.
Other news from the Bank: Goldman Sachs Executives Questions and Fights Whether they should raise salaries for junior investment bankers to match their Wall Street rivals after young employees complained of exhaustion.
5 other articles in the news
1. Brussels to delay digital taxation The EU is set to postpone the controversial digital tax plan until the fall to improve the prospects for the global deal on corporate tax reform. The move comes after the G20 finance ministers meeting this weekend In Venice, we approved the revolutionary tax system put in place by the G7 countries last month, set an overall minimum tax rate and revised our rights fiscal.
Other news from the G20: G20 Finance Minister Carbon price approved For the first time, he described the once controversial idea as one of the “big tools” to fight climate change. The United States in particular has historically opposed it.
2. Richard Branson of the Universe Founder of Virgin Touched the Edge of the Universe Yesterday morning he fulfilled his longtime ambitions and won the bragging rights to compete with Jeff Bezos in the race to open up ballistic space to commercial tourism. of the Branson and Bezos Rocket ships.
3. SoftBank’s second vision fund accelerates Funded 13 billion dollars for more than 50 companies According to the two briefs, the pace of investments increased sharply during the second quarter. In the first three months of this year, companies invested less than $ 2 billion.
4. The widow of Haiti claims that the enemy tried to assassinate Martine Moise, the widow of assassinated President Jovenel Moise of Haiti, accused of a domestic enemy of having organized the murder of her husband while the prosecutor summoned large companies and politicians to face suspicion.
Read more: Haiti “Descent into Hell” An inhabitant of Port-au-Prince declared after the death of the president, “whether you love or hate Moise, you have the same reaction, a deep shock.
5.5. Italy crowned European champion 2020 Gareth Southgate’s England were passed by Italy, despite an early lead. Azuri is greater than the sum of this part, I write Simon Kuper, and that victory capped their exciting reinvention as an aggressive transit under the leadership of Roberto Mancini.
Delta variants spread rapidly Economists worried European Bright economic prospects can be jeopardized.
Boris Johnson to announce most of his Covid-19 lockdown limits later today England Despite concerns over an increase in the number of new cases, it will be relaxed on July 19. Scotland, Wales And North Ireland Meanwhile, take a more cautious approach.
Thousands of protesters, I took you to the streets for Cuba Yesterday, they expressed their anger over food and medicine shortages and called for an end to restrictions on coronaviruses.
Follow the latest information with the coronavirus Live Blog And Register now for us Coronavirus Business Update Newsletter for more news on Covid-19.
The day before
Musk talks about SolarCity buyout Elon Musk, CEO of Tesla First, the most anticipated witness in a lawsuit against SolarCity, a solar startup that has already flown high, acquired by Tesla in 2016.
Yellen meets with euro zone finance minister Brussels’ digital taxation When US Treasury Secretary Janet Yellen meets with European Commission President Ursula von der Leyen and her European colleagues, that will be the main topic of discussion.
What else are you reading
The political awakening of Melinda French Gates French Gates has grown from a very private figure behind the scenes to a leader who is in the limelight, at ease and increasingly obsessed with a single goal. She also joined a rare club: a former wife of an unbridled and free-spirited technician. millionaire Create your own charity course.
Falling bond yields are no longer good news for stocks Do investors have too many good things? That is, the interest rate is artificially low for too long. Investors have come to ask this question after a widespread sell-off of stocks last week, he said. Mohamed Ellerian ..
Florida condominium policy in the spotlight Discussions of how to pay for major repairs are often conflicts between residents of the building. Some London apartment owners are having to pay due to homeowners upgrading their siding in response to a delay in repairing a collapsed condo in Surfside, Florida, and a fatal fire at the Grenfell Tower ago four years. There are similarities to the catastrophic claims that have been made.
Private Equity Raids on British Firms The offer to buy from supermarket chain Wm Morrison is the latest example of the dramatic changes that have accelerated during the pandemic. For most of the century, the UK economy was dominated by publicly traded companies. Now an integral part of the economy Transition to the private sector.
Handshakes are back, sort of confusion causes etiquette In addition to the heterogeneity of vaccination, very different views on what safe behavior looks like have divided us into an ugly combination of shakers, bumpers and punches, writes Pirita Clark. Meanwhile, Ravi Mattu claims that during the pandemic, the line between personal and professional life was blurred. Empower staff Demand more from the manager.
Life & Arts
Conservationist Isabella Tree and her husband Charlie Barrel Knep Castle Estate One of the most daring and controversial rewilding projects in the world. That’s all lunch at FT, Tree focused on reclaiming biodiversity, issues with veganism and why cloning mammoths is a bad idea.
Recommended newsletter for you
Marsh Note – An expert insight into the crossroads of money and power in American politics. register here
Company secret – A must read on the changing faces of international trade and globalization. register here
FirstFT: US banks enter earnings season ahead of loan growth
Source link FirstFT: US Banks Enter Earnings Season Ahead of Loan Growth