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Here’s the latest sign of who’s benefiting in President Donald Trump’s economy: Without the tax cut, bank earnings growth in the second quarter would have been pretty close to zilch. Instead, the nation’s six biggest banks are set to report a 14 percent improvement in earnings in the April-to-June period. Nine of every 10 dollars of that increase is thanks ...

The two sides in the great Brexit debate finally found something they can agree on: hatred of Prime Minister Theresa May’s European Union divorce-settlement plan. A growing number of the combatants even agree on the solution. That would be a second vote on whether leaving is a good idea. Leavers complain that the approach May laid out last week aligns ...

Democracies look to voters for validation of their economic policies. For Thailand’s military junta, the affirmation is coming from Beijing, bankers and the likes of Harley-Davidson Inc. Harley’s decision to build a new Thai factory to supply Southeast Asia should be reassuring to Prime Minister Prayuth Chan-Ocha. The former army chief, who ousted a civilian government in a 2014 coup, ...

Headlines like ”Trump tariff barrage pushes China feud to point of no return,” and “China vows retaliation against $200 billion trade threat” are just the latest portents of global investing in peril. Everyone from BlackRock, the largest public money manager, to Harvard University economist Carmen Reinhart seems to be issuing warnings about the perils of investing in emerging-market economies, which ...

Bloomberg Kuwait Finance House KSCP wants to hold renewed talks with Bahrain’s Ahli United Bank BSC about a takeover, a potential boost to the island kingdom as it seeks financial support from richer neighbours. Shares in Ahli United Bank, or AUB, rose 6.8 percent on Tuesday to the highest levels since April last year, valuing the Manama, Bahrain-based lender at ...

Bloomberg India is preparing to infuse about 20 billion rupees ($290 million) into Punjab National Bank (PNB) by next week to help it meet dues on its perpetual bonds, people familiar with the matter said. India’s third-largest state-run lender will issue preferential shares to the government, the people said, asking not to be named as the information isn’t public. This ...

Bloomberg US consumers are levering up again, and Bank of America Corp. (BofA) is using that, along with cost cuts, to boost profit. Bank of America’s consumer unit posted its highest earnings in more than eight years in the second quarter, helping the lender top analysts’ estimates. Loans in that business climbed 6.6 percent compared with a year earlier, according ...

Bloomberg BlackRock Inc. saw outflows from equity products in the second quarter and slower inflows into its exchange-traded funds as investors reacted to market uncertainty. Clients pulled $22.4 billion from BlackRock’s equity products in the period, according to a statement. Inflows into its iShares products totaled $17.8 billion, the lowest since the second quarter of 2016. BlackRock is the world’s ...

Bloomberg Bank of England (BOE) policy makers are getting a crucial glimpse of the health of the UK economy before their crunch August meeting. A deluge of numbers on wages, inflation, retail sales and public borrowing are coming over the next five days. While a similar run of reports prompted the bank to back away from an interest-rate increase in ...

ABU DHABI / WAM The value of non-oil trade between Abu Dhabi and China, in 2017, reached AED13.2 billion, constituting around 8.2 percent of the emirate’s registered trade that totalled AED160 billion during the same year, according to statistics from the Statistics Centre-Abu Dhabi (SCAD). Statistics on Abu Dhabi’s non-oil trade also show that China is among the top five ...