The world this fortnight
America’s big banks released strong quarterly earnings. JPMorgan Chase’s net profit rose 25% to $18.1bn, Morgan Stanley’s jumped 41% to $3.1bn, and Goldman Sachs’s profit doubled to $3bn. Citigroup’s net income increased by 10% but profits at Bank of America and Wells Fargo fell. Investment banking fees for the five largest banks, excluding Wells, grew …