G20 finance chiefs to align plans for recovery

G20 finance chiefs to align plans for recovery

Daniele Franco and Ignazio Visco during the streamed G20 meeting in Rome. AFP New York: Three big US banks reported strong earnings even as warning signs emerged that the playing field is beginning to tilt against the financial industry. While the biggest risk ahead is that lower interest rates will pressure banks' bottom lines in the coming months, the squeeze is already beginning. JPMorgan Chase & Co and Wells Fargo Chinese President Xi Jinping appears on Friday as guest of honour at Russia's showcase economic forum, as the two neighbours present a united front in the face of shared troubles with the US. During the visit, President Xi and His Highness Sheikh Mohamed Bin Zayed discussed ways of strengthening the comprehensive strategic partnership between the two countries. It is unfortunate that the US-China trade war has entered a new phase at a time when the global growth itself remains shaky. Indications that negotiations would resume some time Global stocks fell on Friday, with emerging market and Asia shares hardest hit, as a recent rout in global bond markets spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets. Volkswagen said on Friday it made better