As an updated analysis by Goldman Sachs says, Great Britain is likely to enter a deeper recession next year. Inflation, along with interest rates, would be below market expectations.
17 October 2022
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Goldman Sachs predicts aggravating UK recession in 2023
Banks’ profits fall, but high consumer spending softens the blow
Major banks are preparing for a slowdown in economic growth, but have not yet noticed any serious signs of problems, as consumer spending remains strong.
17 October 2022
JPMorgan earnings beat estimates of analysts
On Friday, JPMorgan Chase & Co. posted a decline in third-quarter profit. Nevertheless, the bank's earnings beat estimates of analysts. The increase in interest income made it easier to cope with higher loan loss provisions and reduced appetite for new deals.
17 October 2022
Wells Fargo profits fall as costs rise
Wells Fargo & Co. reported a 31% drop in third-quarter profit last Friday, due to rising costs at the bank because of the fake-accounts scandal and an increase in provisions for possible loan losses in preparation for a potential economic downturn.
17 October 2022
Pound sterling is recovering after UK fiscal policy was partially reversed
Partial amendments were made to the British government’s economic strategy by its Prime Minister Liz Truss, which resulted in certain growth of the pound sterling. One of the main changes was sounded in a statement delivered by Truss, in which she announced an increasing of corporation tax to 25%.
17 October 2022
ECB may need to raise rates by 75 bps in October and December
The European Central Bank will have two more meetings before the end of the year, where the ECB is expected to resolve two issues. The first is the issue of raising interest rates by 75 basis points at once.
17 October 2022
Honeywell expects more private jet deliveries
Due to customer growth that occurred during the coronavirus pandemic, Honeywell International Inc has raised its forecast for business jet deliveries.
17 October 2022
Citigroup earnings exceeded expectations
On Friday, October 14, earnings estimates for Citigroup Inc., i.e. the largest financial conglomerate, exceeded market expectations for the third quarter. The reason is a series of interest rate hikes by the Federal Reserve (Fed), influencing the bank's lending activity.
17 October 2022
G7 fails to reach agreement on intervention to mitigate rising dollar
Japan, as well as countries facing the consequences of the rapid growth of the US dollar, did not find much consolation in the meetings of world finance representatives held last week.
17 October 2022
Oil markets go through “strong fluctuations”
On Sunday during the two-day trip in Algeria the head of OPEC Haitham Al Ghais said that currently, the oil markets face serious fluctuations.
17 October 2022
