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Here are the top stories we’ll be watching this week all eyes will be on the bricks of hope by mps in the uk the latest economic survey from the us will give clues on the possibility of a slowdown our results will be out from the big us banks including wells fargo and gatlin sachs first to the crucial vote this week in the uk on prime minister theresa mais bricks
A deal to leave the eu the house of commons vote was called off last month by embattled mrs. may who was facing defeat the pm’s deal which covers the terms of the uk split and the framework of future relations with the eu has already been agreed with eu leaders but needs to pass a vote by mps before it is accepted do you care to leave the eu on march 29th whether
The deal is passed by mps or not after the pm was forced to delay the vote politicians will finally get their say on tuesday on the prime minister’s compromise deal with brussels but once again mps and commentators and even number 10 expect she’s going to lose the vote what next will she’s got three days to come up with something different who knows whether or not
That will be possible but that’s something that mps have demanded after changing the rules of the game last week then the prime minister is expected to reach out to brussels and eu officials after the extent of her defeat is realized she will be looking for further legal guarantees over the backstop something that euroskeptic mps and the democratic unionist party
Who support her minority government are fiercely opposed to but in the meantime we’ll probably see mps coming up with alternatives that could be a norway option a second referendum labour of course will be calling for a general election but now as is expected then there still appears to be no consensus for what sort of brexit parliament once in the u.s. looking to
The new year few economists are expecting a recession in 2019 but concerns about the implications of a chinese economic slowdown and fallout from the us-china trade war are growing this week the federal reserve brings out its beige book looking at current economic conditions sam fleming u.s. economics editor tells us what to expect the regular diet of economic
Data that comes out of the government has been back because of the federal government shutdown which has meant that many us government statisticians aren’t currently working that doesn’t mean however that no economic data is coming out this week at all one particularly important report will be the federal reserve’s monthly beige book this is based on feedback
That the federal reserve’s regional banks get from local business executives on topics ranging from prices to wage pressures to manufacturing activity and so on this comes at a time of some uncertainty about the next steps for federal reserve policy there have been signs of slowing growth globally and yet the us economy still appears relatively buoyant and we’ll
Be seeing what the federal observe wants to do next when it’s meeting comes up at the end of the month and that will obviously be a key moment to watch as we gauge what lies ahead for federal reserve interest rate policy until then the beige book is one interesting indicator to keep an eye on staying in the us the earnings season for banks begins this week with
Citigroup’s results on monday shares in the big six american banks fell by an average of 14 percent in the last month of 2018 so investors are bracing themselves for the results against a backdrop of the growing concerns about the path of the u.s. economic growth over the next year the ft is us banking editor laura noonan has more the good news is that earnings
Themselves should be pretty solid analysts are expecting the six banks to report an average increase of around 25 percent in fourth quarter pre-tax profits and that’s despite the market’s chaos that define the end of the year wells fargo which took a big litigation hit in the fourth quarter of 2017 is set to be the most improved goldman sachs whose business is
The most exposed to the vagaries of the markets looks at to be the worst with pre-tax profits of just three percent year-on-year and that’s before factoring in the impact of litigation provisions for the 1mdb scandal arch attacks profits will be massively up across the pack since banks took big accounting write-offs at the end of 2017 after president trunk cut
The corporate tax rate reducing the value of their deferred tax assets and finally in the balkans in eastern europe russian president vladimir putin is set to visit serbia this week a meet his counterpart alexander vu couch those face weeks of protests against his government’s influence over the media the visit comes at a time when russia is facing increasing
Trade and political isolation russia’s balkan ally is pushing for an agreement over kosovo that has ignited controversy over serbia’s efforts to join the eu mr. vu kitsch has stated he was in favor of partitioning kosovo site of the last war in the breakup of former yugoslavia in recent years mr. vu kitsch has walked a diplomatic tightrope between russia which
Shares cultural and religious ties with the country of 7.2 million people and the eu but russia backed serbia stance of never recognized in kosovo while the eu has said normalizing ties with kosovo is key to serbia’s eu membership application and that’s well the week ahead looks like from the financial times in london
Transcribed from video
Brexit vote, US bank results By Financial Times
