On tuesday well hear from bank of america. First first quarter profits fell 18 due to rising expenses caused by high rates. Also on Tuesday Investment Banking Giant Morgan stanley will release their financial Report Card with revenues expected to rise. For a closer look at the us banking sector, lets speak with Cyrus Darawala from idc financial insights. Thank you forjoining me today. Lets get your take on what to expect from the latest earnings from us banks when they are released. From us banks when they are released released. Sure. Good to be back. Released. Sure. Good to be back the released. Sure. Good to be back. The majority released. Sure. Good to be back. The majority of released. Sure. Good to be l back. The majority of reports so far have been lackluster, and reason for that, though the banks have posted slightly better than expected profit, some half of them, half of them not, it is the longer Term View that concerns us. As of right now, dave enjoyed what we used to call th
crisis. the collapse of silicon valley bank on friday has sent shock waves around the world. it is foiled full central banks and regulators to act. on friday, california banking regulator closed down. largest bank failure since the globalfinancial largest bank failure since the global financial crisis. largest bank failure since the globalfinancial crisis. since largest bank failure since the global financial crisis. since then, to other regional banks have also gone bankrupt, silver gate and signature bank in new york. in a big draw bid to stem contagion across the industry the government stepped in and guarantee deposits across the entire banking system, ensuring that all account holders could retrieve their funds. all account holders could retrieve theirfunds. meanwhile, here in uk, hsbc has acquired silicon valley bank uk forjust a pound. government said customer deposits have been protected and no taxpayer money will be used to bail out the bank. president biden hasju
we speak to the swedish company aiming to make freight more electric and looking to the uk market. the sacked boss of the cbi has told the bbc that he has been made the fall guy for the crisis engulfing the business lobbying group. tony danker apologised to anyone at the organisation that he had upset or made uncomfortable, but said his reputation has been destroyed as the public have wrongly connected allegations against him of sexual harassment with separate charges of serious misconduct that occurred before he joined the cbi. he has been talking to our business editor simonjack. first, simon, iwant first, simon, i want to apologise to anyone at the cbi and i made upset or uncomfortable. that is on me. that is on me. but i ve had a week of coverage saying that tony danker sacked in rape scandal. these stories have been about rape and sexual assault and cocaine and bullying. none of that was anything to do with me and it was all before my time. so, the first thing that has h