Trump’s UK visit, Nato summit, US bank results


Here are the top stories
we’re watching this week. Donald Trump is set to make
his much-talked about trip to the UK, his first since
becoming US president. Nato leaders are
gathering in Brussels, where defence spending is
expected to top the agenda. And JPMorgan Chase and
Citigroup are among the US banks reporting quarterly results. First, the US president
is set to arrive in the UK at the end of the week in a
visit that could expose strains in the transatlantic
relationship. His trip will be a working visit
rather than a full state visit, which was initially offered by
British Prime Minister Theresa May. Mr Trump backed away
from the proposed state visit after it sparked
political controversy in the UK. But protesters
are still expected to turn out during his
whirlwind trip that will include a meeting
with the Queen, a visit to the prime minister’s
country residence Chequers, and a dinner with
business leaders. He will then fly
to Scotland where he owns several golf courses. The UK government is
likely to prioritise bilateral co-operation
on security and trade during the visit. Here’s our political
correspondent, Henry Mance, with more. Two things are almost
certain on this visit. One is that there
will be protests. Some protesters want to put up
a 20ft blimp of Donald Trump as a baby in a nappy. And the other certain
thing is that there’ll be pretty pictures of Donald
Trump meeting the Queen, him at nice locations, and
he’s going to enjoy that part. The unknown and
the crucial thing is whether he goes off message. Other world leaders, Justin
Trudeau, Emmanuel Macron, they all found it
quite difficult to rein in Donald Trump. Theresa May is going to
have the same problem. In the past, she’s
tried to get him to say tough things on Russia. But if, for example, he was
to say Britain isn’t spending enough on defence or maybe
the west should reevaluate its relationship with
Vladimir Putin, that will be really embarrassing
for the British prime minister and that’s what
she wants to avoid. Before Mr Trump arrives
in the UK, he and Mrs May will already have had a
chance to get reacquainted, as they’re both scheduled
to attend a Nato summit in Brussels on
Wednesday and Thursday. Nato leaders are gathering
to inaugurate the alliance’s new headquarters
on the outskirts of the Belgian capital. But the summit is likely to
be dominated by some difficult questions on defence spending. Mr Trump has previously called
Nato obsolete and criticised Germany and other European Nato
members for failing to spend enough on defence. Nato members also
worry the US president could make some unwelcome
statements, for example, about ending joint military
exercises with European Nato states, when he meets
Russian president Vladimir Putin in Helsinki next week. The Nato summit also comes
amid growing trade tensions between the US and some
of its western allies. Here’s Philip Stephens with
more on what to expect. Clearly, among European
leaders, there’s some trepidation about
Donald Trump’s visit to Europe and to Nato
headquarters this week. After the disastrous
G7 summit in Canada, Europeans fear another big
split in the western alliance. And, in particular, they
fear that Donald Trump may downplay, downsize the
US contribution to Nato. The big concern, I
think, is that Mr Trump sees security and trade as
two sides of the same coin. The threat, as it were – the
implied threat is if Europeans don’t buy more American goods,
don’t have fairer “trading arrangements” with the US,
then the US is going to cut its commitment to the
defence of Europe. This coming just
before Donald Trump meets Vladimir Putin
amid fears that Mr Trump wants to relax the
pressure on Mr Putin after the annexation of
Crimea and the invasion of eastern Ukraine. And finally, we’ll
get a health check on some of the US’s
biggest banks this week. JPMorgan Chase
and Citigroup will report second-quarter
results on Friday. Wells Fargo is
also due to report, but isn’t expected to fare
as well as its rivals, with analysts predicting just
a 5% year-on-year increase in earnings for the quarter. US banking stocks have gone out
of favour lately with the S&P 500 financial index, dropping
12% since a historic rally led to a post-crisis
high in January. Here’s the FT’s Alistair Gray. Bottom lines at the big US
banks like JPMorgan and Citi are likely to look very strong. But if you look a little
under the surface, there is also shaping out to
be just OK, not spectacular. Most of the forecast
profits improvement is down to tax cuts. They’ve given banks billions of
dollars in additional profits. The underlying banking
business is doing fine, although the picture
is a bit mixed. Lending volumes have been light
of late, and that’s a concern. But customers’ default
rates remain pretty low. We will be paying
close attention to trends in deposit pricing. So far, large banks have been
able to avoid passing on higher interest rates to many savers. When the tide turns
it’s a crucial question for the sector. And that’s the Week Ahead from
the Financial Times in London.

48 Replies to “Trump’s UK visit, Nato summit, US bank results”

  1. Trump is the hero we the people had been waiting so long. Trump saved America that was destroyed by Obummer. May God protect Him and his family for long !!!!

  2. I AM PAKISTANI I SUPPORT TURMP I HATE SADDIQ KHAN RESPECT TRUMP HE IS THE ONLY WHO CAN MAKE AMERICA GREAT AGAIN .. DEPORT MUZLUMS

  3. Any news on the visit besides the stupid protests and criticism? Just wondering, it's all we ever hear.

  4. Only the mind of a lunatic would consider Merkel or Macron "World Leaders"

    They are both very insignificant, and their efforts to push the Liberal Global Order has failed, which shows they are nothing other than distractions, minor distractions when it comes to global affairs.

    Both Merkel and Macron have very kindly driven a huge wedge across the European Union, and severed any respect any citizen had for Brussels.

    Its downhill henceforth for the EU as many nations now reconsider their membership.

  5. Slowly but surely the evidence mounts. Spoonful by spoonful, the evidence mounts. Given time, Trump's supporters will no longer be capable of deceiving themselves about Trump, the failure. There is no need to hurry. Trump will sabotage himself again and again; enablers like Pompeo will try and try again and again to rescue him from himself and will fail just as he has with North Korea. So, let Trump be Trump and failure is assured. His life history proves that.

  6. Trump's greatest fear is that people will see Trump as Trump secretly sees himself, as a weak man who tries to bully and brag himself through every problem.

  7. Filthy queen is as fake as Obama and sold every British child to the pedophile MUSLIM cult for gold bars to pay for Williams and Harry's weddings!

  8. A welcome downsizing of the U.S. contribution to NATO would be if they pulled their 56,000 unwanted troops out of Germany and sent them home.

  9. I can only imagine other World Leaders cringe at the thought of this Fat ORANGE no CLASS Fat Slob comes to summits, lumpy trumpy DUCHEBAG/LOSER, he is an embarrassment​ to the U.S.!!!

  10. Hopefully some Chinese manufacturing company copies this balloon and makes them in birthday balloon size. Sell them at the dollar store so everyone can get one to fly.

  11. No one will ever 'reign in' Donald Trump. This is a liberal wet dream. Be careful British government. What would you do if you got into a war? Maybe, just maybe, the Yanks won't be coming.

  12. All American troops out of Europe and bring them home, we pay 71% of all NATO costs and what do we get from it? Nothing…

  13. To put this in perspective the U.S. spends/funds NATO to the tune of $687 billion while the UK provides about $55 billion, France $46 billion and Germany only $45 billion. The other countries contributions are not even worth mentioning. In addition, the U.S. provides 50+ billion in aid to about 200 other countries – which needs to stop. The U.S. has a failing infrastructure and its own citizens that need to be taken care of first and foremost.

  14. Please Mr President bring back our soldier's from Europe they should have the money to pay for their military we don't need NATO and they don't need us that simple problem solved

  15. IF EUOPEANS ARE TRUE FRIEND OF USA, THEN THOSE NATO ALLEGED UNPAYING (NOT PAYING FAIRSHARE) ALLIES SHOULDNT BE TAKING A "FREE RIDE ON FRIEND'S (USA'S) HARDWORKING TAXPAYERS".

  16. If i comment here that mr trump, you are not welcome in uk at all. what are the chances he can see this comment? NOT WELCOME IN 🇬🇧 ❤️

  17. It's all about sex, Still remembering Donald Trump was able to having great sex with Rusian hookers and other female staff or pets, now only able to grab pussies and having golden showers to get some pleasure makes grumpy.

  18. President Trump needs to pimp slap Ms. May and Frau Merkel. Get his bitches in line and thinking right.

  19. Cut the Protection Money to Europe. NATO is just a MOB shakedown to extract as much as possible out of the USA. Donald Trump was not made to reign in, how stupid are you Europeans he is the man with the Steel Balls, Europe is the Pussy Trump needs to grab.

  20. sorry the u.s. is full of shite and debt, trumps a child rapist. facts are facts. i want americans out our commonwealth so i can get back to work

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