Major U.S. banks have reported record profits despite ongoing inflation and economic pressures tied to the war with Iran and disrupted trade in the Strait of Hormuz.
Major U.S. banks have reported record profits despite ongoing inflation and economic pressures tied to the war with Iran and disrupted trade in the Strait of Hormuz. PULSE POINTS WHAT HAPPENED: America’s largest banks reported a combined $43 billion in second-quarter profits, exceeding analysts’ expectations despite ongoing conflict with Iran, persistent inflation, and broader economic uncertainty. JPMorgan Chase led the group with $21 billion in profit, boosted by a $4.6 billion gain tied to its stake in Visa, as well as strong investment banking activity driven by mergers, acquisitions, and artificial intelligence (AI) financing deals. DETAIL: Goldman Sachs earned $6.6 billion, while Bank of America posted $9 billion on strong…Open
Trump, who is traveling to Beijing to meet with Chinese President Xi Jinping on Thursday and Friday, plans to bring along a coterie of prominent business and technology executives. The guest list includes BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman, Citigroup CEO Jane Fraser, Goldman Sachs CEO David Solomon, Mastercard CEO Michael Miebach and Visa CEO Ryan McInerney. Read more: https://thehill.com/newsletters/technology/5873222-trump-invites-tech-ceos-on-china-trip/ #China #Trump #Xi #Beijing #Taiwan #IranWar #ElonMusk
Trump, who is traveling to Beijing to meet with Chinese President Xi Jinping on Thursday and Friday, plans to bring along a coterie of prominent business and technology executives. The guest list includes BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman, Citigroup CEO Jane Fraser, Goldman Sachs CEO David Solomon, Mastercard CEO Michael Miebach and Visa CEO Ryan McInerney. Read more: https://thehill.com/newsletters/technology/5873222-trump-invites-tech-ceos-on-china-trip/ #China #Trump #Xi #Beijing #Taiwan #IranWar #ElonMusk
