The Week in Numbers: bank blues, peak rates
STORY: From another bank going under in the U.S., to signs that rate hikes could be peaking, this is the Week in Numbers.
$10.6 billion is how much JP Morgan is paying to acquire most assets of collapsed U.S. bank First Republic.
The deal came after weeks of efforts to save the troubled lender failed.
But it didn’t seem to calm market jitters over the sector.
Subsequent days saw shares tumble for other smaller banks including PacWest Bancorp.
A quarter of a percentage point was the size of rate increases at the U.S. Federal Reserve and the European Central Bank.
Fed chief Jerome Powell hinted a pause could now be coming:
“Looking ahead, we'll take a data dependent approach in determining the extent to which additional policy firming may be appropriate.”
$9.65 billion was the latest quarterly profit at Shell, following bumper numbers from BP earlier.
Together the figures seemed sure to revive calls for windfall taxes on the energy giants.
$12.9 billion was the profit at HSBC - about three times the figure a year ago.
The banking giant also cheered investors by restoring its dividend.
It all soothed jitters over European lenders, coming just weeks after the emergency rescue of Credit Suisse.
And 1.5% was the rise in iPhone shipments over the latest quarter.
Not much, maybe. But a surprise, as analysts had predicted a fall.
The numbers demonstrated Apple’s resilience even as the global smartphone market slumps.
