US EditionBritish bank Barclays beats on profit, braces for potential tariffs-led economic slowdown
- British bank Barclays reported a profit before taxes of £2.7 billion in the March quarter, exceeding analyst expectations.
- The profit beat results from stronger investment banking performance amid expectations of continued high market volatility.
- Barclays' return on tangible equity reached 14% in the first quarter, up from 7.5% in December, driven by a 16% rise in investment bank income.
- CEO CS Venkatakrishnan said on CNBC that “fairly high market volatility” will persist, creating risks of delays in economic activity but opportunities to manage risk profitably.
- The results suggest Barclays is adapting successfully to market uncertainty but anticipates ongoing volatility impacting client decisions and economic conditions.
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Tariff shocks to jobs, economy growing as boost from preparation fades: Deloitte
TORONTO — Deloitte's latest economic outlook sees the pain of tariffs gathering pace in the months ahead as the short-term boost from companies front-loading activity fades.
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Leaning Left6Leaning Right1Center6Last UpdatedBias Distribution46% Left, 46% Center
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46% Center
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C 46%
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