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Big American banks are doing quite well in 2019

Dion Rabouin, author of Markets
Expand chart
Reproduced from Retail Banker International; Table: Axios Visuals

It has been a particularly good year for American banks. Despite historically low interest rates, which theoretically eat into their profits, the sector has enjoyed significant share appreciation.

By the numbers: 75 of the world’s largest 100 banks by market cap have seen an increase in their stock price in 2019, according to a new report from GlobalData.

Between the lines: When it comes to assets held, American banks have ceded global leadership to China, which is home to the four largest banks by assets — Industrial & Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China.

Go deeper:

Go deeper

Bryan Walsh, author of Future
Updated 6 mins ago - Health

Omicron travel bans are sign of what's to come

Illustration: Aïda Amer/Axios

The travel bans and border closures prompted by the Omicron variant likely won't fully prevent its spread, but that won't stop countries from leaning on the measures.

Why it matters: The rapid speed at which countries turned to travel bans with the emergence of Omicron indicates border controls will increasingly become a weapon against infectious disease — whether or not public health experts agree they are effective.

Go deeper (3 min. read)Arrow
Alayna Treene, author of Sneak Peek
26 mins ago - Politics & Policy

GOP fights itself on shutdown politics

Reporters question Senate Minority Whip John Thune before the Republican Party's weekly lunch on Tuesday. Photo: Kent Nishimura/Los Angeles Times via Getty Images

GOP leaders on Capitol Hill are scrambling to reach a deal with a bloc of 15 Senate Republicans threatening a government shutdown to force a fight over the Biden administration's vaccine mandates.

Why it matters: The push to defund the mandates — by holding the short-term government funding bill hostage — is largely symbolic, and highly controversial within the Republican Party. A shutdown as early as midnight Friday could trigger everything from national park closures to delays in receiving Social Security checks.

Go deeper (1 min. read)Arrow
Emma Hurt
5 hours ago - Politics & Policy

Stacey Abrams launches second campaign for Georgia governor

Photo: Eze Amos/Getty Images

Stacey Abrams, voting rights activist and former 2018 candidate for Georgia governor, is running for the position again in 2022. Abrams would be the first Black female governor in the country.

Why it matters: Abrams caught national attention in 2018 by narrowly losing an election to Republican Gov. Brian Kemp in a state held firmly by the GOP for nearly two decades.

Go deeper (1 min. read)Arrow