Canadian marijuana stocks have fallen from their February highs. But one player in the industry got a lot bigger after a merger deal. Read More...
Reuters
U.S. banks to see big jump in secon-quarter profits before results return to normal
With feared pandemic loan losses failing to materialize, most big U.S. banks are expected to report a stunning rebound in quarterly profits next week even as trading income slumps and lending revenue stalls on low interest rates and weak demand. Among them, Bank of America Corp, Citigroup Inc and JPMorgan Chase & Co, the country’s three largest banks, will more than double their second-quarter profits, according to analyst estimates compiled by Refinitiv. But due to extraordinary government stimulus and loan repayment holidays, those losses have not materialized and as Americans get back to business-as-usual, the big four could record less than $1 billion of provisions for the second quarter, according to analyst estimates.
