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Bank earnings signal dark clouds on the horizon
CNN
Wall Street's biggest players have had a rough start to the year.
All of the biggest US banks saw profits take a hit in the first three months of 2022, ending a pandemic-era boom.
Citi, Goldman Sachs, Morgan Stanley and Wells Fargo all announced large year-over-year profit declines in their first-quarter earnings reports Thursday, joining JPMorgan Chase, which announced on Wednesday that its first-quarter profit fell 42%.
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Leaders representing the Group of Seven nations are set to announce as soon as Thursday an agreement to loan money to Ukraine backed by the profits from frozen Russian investments, according to sources familiar with the discussions, providing a new source of revenue to a war-torn nation facing a steep and costly road to recovery.
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An Arizona man was indicted by a federal grand jury this week on several firearms charges, having been accused by the US Justice Department of planning a mass shooting targeting Black people and other minorities at a May Atlanta concert in hopes of inciting a race war before the upcoming presidential election.
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House Republicans voted Wednesday to hold Attorney General Merrick Garland in contempt of Congress for refusing to turn over the audio recordings of President Joe Biden’s interviews with former special counsel Robert Hur, who investigated Biden’s handling of classified material and declined to bring charges.
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UAW members in Michigan don’t think the union’s endorsement of Biden will sway their pro-Trump peers
Walter Robinson Jr. bets about 40% of his Ford Motor Company co-workers are for Donald Trump. He doesn’t get it.
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US Secretary of State Antony Blinken on Wednesday expressed frustration that Hamas has submitted “numerous changes” to a US-backed proposal for a ceasefire and release of hostages in Gaza – a development that casts further doubt on the prospects of quickly securing the deal the US hopes will bring “an enduring end” to the war.
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The US and Ukraine are expected to sign a bilateral security pact on the sidelines of the G7 in Italy on Thursday, multiple people familiar with the matter told CNN, in a deal that lays out a path for the US’ long-term security relationship with Kyiv but that could also be undone by future US administrations.