The latest results from big banks show Wall Street firing on all cylinders.
Plus, why New York City's office market is soaring.
Employers are getting their workers back to offices, and as a result, they need more space.
And Gen Z protesters have felled another government as Madagascar's military seizes control.
It's Tuesday, October 14th.
I'm Sabrina Sidiki for The Wall Street Journal, filling in for Alex Osala.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
In its latest forecast,
the International Monetary Fund said the global economy is on pace to grow by 2.6 percent this year,
down from 3.6 percent growth last year.
Tariffs, inflation and other threats are clouding the world economic outlook.
For the U.S. economy, its forecast is for 1.9 percent growth,
slightly better than predicted earlier this year, but down from 2.4 percent recorded in 2024.
The IMF says the weakening U.S. labor market and protectionist trade policy are among the signals for potential problems ahead.
But even with those concerns, Wall Street is surging.
Dealmaking, trading,
and corporate lending are gaining steam and fueling profits at the nation's biggest banks.
Results out today from Goldman Sachs,
JP Morgan's Citigroup and Wells Fargo all beat profit and revenue forecasts as third-quarter earnings season got into full swing.