FT News Briefing Can Tories prevent a massive defeat?
Jul 17, 2023
The EU is ramping up pressure on major polluters to accelerate emission cuts. Meanwhile, large U.S. banks are reaping substantial profits from increased loan rates. On the political front, the UK Conservative Party is facing significant challenges with high inflation and scandals, raising questions about their unity and leadership as they gear up for the next general election. Labour's strategy under Keir Starmer also plays a crucial role, especially with impending by-elections that could reshape the political landscape.
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US Bank Earnings
- Large US banks profited from increased loan charges and low savings rates, boosting net income significantly.
- Midsize banks face pressure to increase deposit rates, impacting profitability and investor scrutiny.
EU's Push for Emission Cuts
- The EU is urging nations like China, India, and the US to increase their emission reduction efforts.
- This comes as European consumers and industries express concerns over the high costs of the green transition.
Conservative Party's Challenges
- The UK Conservative Party faces a challenging path to victory in the next general election due to high taxation, inflation, and lagging poll numbers.
- Internal divisions and a potential "doom loop" mentality pose further threats to their chances.