Canadian Banks Dodge Worst-Case Tariff Scenario in Q3 Earnings
Canada’s banks are poised to report improved Q3 results, with provisions falling from C$6.37B to C$5.22B as tariffs had a milder impact than expected. Analysts highlight benefits from wealth management income and a focus on U.S. expansion.
U.S. Banks Lobby to Block Stablecoin Interest Over Deposit Flight Fears
U.S. banks are pushing to amend the GENIUS Act to prevent stablecoin issuers from paying interest, warning that customers may shift deposits to crypto platforms, potentially moving up to $6.6T.
Powell Signals Possible September Rate Cut, Boosting Markets
Fed Chair Jerome Powell hinted at a rate cut in September during the Jackson Hole Symposium amid softening labor market and stable inflation, prompting gains in stocks and bonds.
JPMorgan Expert Warns: “Nobody Is Immune” to AI-Driven Scams
Darius Kingsley of JPMorgan cautions that AI-powered scams caused a record US$16.6B fraud loss in 2024. Scammers now use sophisticated impersonation tactics, urging consumers to stay vigilant.