"I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues. As a result of these very productive talks, I will be delaying the U.S. increase in tariffs now scheduled for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement. A very good weekend for U.S. & China!"
American banks are minting money. In 2018, they made $237 billion in profits, bringing their average return on assets to an extremely healthy 1.35%. That's up from 0.97% in 2017. With banking so profitable, a lot of new players are looking to get in on the game, or to increase their market share.
The big picture: In a tech-obsessed world, a broad range of institutions have decided that the future of banking lies in apps. The logic is simple: Increasingly, Americans want to bank on their phones, rather than in expensive-to-maintain branches, so banks should give them what they want.
Males, forever the beneficiaries of systems and structures they built to sustain their power, are at the heart of self-inflicted crises in every part of the world.
The big picture: Power corrupts, and societal structures have so far granted men the most power. There are, of course, unscrupulous female leaders. But because there are far fewer of them, the reckoning for men is taking place on a far vaster scale.
Young and less educated men are losing their place in the U.S. workforce.
Why it matters: Technology and automation, shrinking unions and changing family dynamics have transformed the role of men in the workforce, while male high school graduates either need to pursue higher education or enter lower-paid industries traditionally dominated by women.
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