Larry Fink

Money Moves

Reporting Q1 2026 earnings; overseeing $13.89 trillion in assets

The six largest American banks wrapped up their first-quarter 2026 reporting with combined net income of $47.3 billion, delivering a near-uniform message from Wall Street: trading floors thrived on the volatility unleashed by the Iran war and Strait of Hormuz closure, while the broader economic outlook grew cloudier. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion. Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share — its highest earnings per share in nearly two decades — while Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The results arrived even as the banks collectively announced roughly 5,000 job cuts, a sign that Wall Street is using the profit windfall to trim headcount rather than expand.

Updated Apr 19

Rule Changes

Co-chairing the summit alongside Roche's André Hoffmann

For 55 years, the World Economic Forum at Davos served as neutral ground where adversaries could broker deals and rivals could find common cause. This year, 65 heads of state and nearly 3,000 leaders are arriving to find that ground shifting beneath them—with President Trump announcing 10% tariffs on eight European allies just 48 hours before the summit opened, escalating to 25% by June unless Denmark agrees to sell Greenland. By January 20, the crisis had intensified as France pushed the EU to activate its never-before-used 'Anti-Coercion Instrument'—a trade bazooka that could shut American companies out of Europe's 500-million-consumer market.

Updated Jan 20