Growth is slowing, worries of a recession are rising and the Fed just cut interest rates. Wall Street analysts expect lower rates to crimp banks’ profitability. Source: NYT > Business – Stephen Grocer
Big Banks Are Earning Billions of Dollars. Trump’s Tax Cuts Are a Big Reason.
The five largest United States banks reported tax rates of 22 percent or less for the second quarter this year. Lower taxes helped smooth over earnings rough spots. Source: NYT > Business – Emily Flitter
Apple Plans to Buy $75 Billion More of Its Own Stock
The company said it would add to its record returns to shareholders, most likely fueling an intensifying debate over corporate spending. Source: NYT > Business – JACK NICAS