Breaking News This Morning ...
Earnings: UBS reported profits fell 14%, but it still beat Street expectations.
Receiving Wide Coverage ...
Nobody's impressed: Credit Suisse posted surprisingly respectable earnings on Thursday, with a profit of about $171 million. Still, the troubled bank knows there's more work to do. "It's only a start," said Tidjane Thiam, the company's chief executive. Investors were unmoved – shares of the bank's stock fell 5%.
Everybody make nice: MasterCard may be looking to capitalize on the goodwill generated by a deal earlier this month between Visa and PayPal. MasterCard chief executive Ajaypal Singh Banga said Thursday his company has been in a "constructive dialogue" with PayPal after years of competitive tensions.
Gloomy forecast: London-based Lloyd's Banking Group is set to slash 3,000 jobs and close 200 branches. Thanks for nothing, Brexit.
Stressed out: European stress test results are due Friday and the papers have previews.
Wall Street Journal
Regulatory Capture: The Federal Reserve Bank of New York is planning to
Prices hit a ditch: Four of the biggest auto lenders said in recent earnings reports that
Elsewhere ...
Blockchains: If you weren't at American Banker's Blockchains + Digital Currencies conference Thursday, you missed a good time. But you can experience it vicariously through our cousins at the New York Observer, who covered the fireside chat with Bill Barhydt, founder of the