Big Banks Could Face 20% Boost to Capital Requirements
WASHINGTON-U.S. regulators are preparing to force large banks to shore up their financial footing, moves they say will help boost the resilience of the system after a spate of midsize bank failures this year.
The changes, which regulators are on track to propose as early as this month, could raise overall capital requirements by roughly 20% at larger banks on average, people familiar with the plans said. The precise amount will depend on a firm's business activities, with the biggest increases expected to be reserved for U.S. megabanks with big trading businesses.
AI's Rapid Growth Threatens to Flood 2024 Campaigns With Fake Videos
China invades Taiwan and migrants surge across the U.S.-Mexico border in a video depicting the aftermath of President Biden's re-election. In a series of images, former President Donald Trump is pursued on foot and apprehended by uniformed police officers. Another photo shows the Pentagon engulfed in flames following an explosion.
The common denominator among these scenes? They are all fake. Rapidly evolving artificial intelligence is making it easier to generate sophisticated videos and images that can deceive viewers and spread misinformation, posing a major threat to political campaigns as 2024 contests get under way.
Military Jets Scrambled Over Private Plane Near D.C.
The Pentagon activated two F-16 jet fighters Sunday in response to a private Cessna plane that flew over the nation's capital, the U.S. Military said.
The jets were authorized to travel at supersonic speeds, creating a sonic boom that was heard across the Washington, D.C., area, the North American Aerospace Defense Command, or Norad, said in a statement.
Ukraine's Next Target: Russian Trenches
While Ukrainian soldiers have spent months training to use new Western tanks and equipment for an expected offensive, Russian forces have been building defenses to stop them.
Satellite images show that the Russians have constructed an elaborate network of obstacles-including antitank trenches, concrete barriers known as dragon's teeth and layers of advanced minefields-in southern Ukraine, where Kyiv is expected to attack.
Ukraine-Backed Troops Capture Russian Soldiers in Cross-Border Foray
KYIV, Ukraine-A fresh incursion into Russia's Belgorod region by Ukraine-backed troops on Sunday, who said they seized territory and captured two Russian soldiers, added to signs of vulnerability in Russia's defenses on its own territory ahead of a major expected offensive by Ukraine aimed at taking back land occupied by Moscow.
Belgorod regional governor Vyacheslav Gladkov said fighting was taking place with enemy troops in the border village of Novaya Tavolzhanka, where authorities had sought to evacuate residents following heavy shelling by Ukrainian forces. "Battles are ongoing right now," said Gladkov, adding: "I hope they are all destroyed."
Military Leaders Warn U.S.-China Divide Threatens to Bring Down 'Iron Curtain' in Asia
SINGAPORE-With the U.S. and China trading accusations over strained ties, Asia-Pacific defense officials found a common voice urging the two powers to talk more and warning of the heightened risks of the strained relationship spiraling into a direct conflict.
A senior defense official from the Philippines warned that the great power tension-if left unchecked-could bring down an "Iron Curtain" across Asia.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Nothing major scheduled
Economic Calendar (ET):
0815 May Official International Reserves
Stocks to Watch:
No items published
Expected Major Events for Monday
00:30/JPN: May Japan Services PMI
06:00/RUS: May Russian Services PMI
06:00/GER: Apr Foreign Trade
07:45/ITA: May Italy Services PMI
07:50/FRA: May France Services PMI
07:55/GER: May Germany Services PMI
08:00/UK: May UK monthly car registrations figures
08:30/UK: May UK Official Reserves
08:30/UK: May S&P Global / CIPS UK Services PMI
12:15/CAN: May Official International Reserves
13:45/US: May US Services PMI
14:00/US: Apr Manufacturers' Shipments, Inventories & Orders (M3)
14:00/US: May ISM Report On Business Services PMI
14:00/US: May Employment Trends Index
15:00/US: May Global Services PMI
23:01/UK: May BRC-KPMG Retail Sales Monitor
23:30/JPN: Apr Household Spending
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Monday
GitLab Inc (GTLB) is expected to report for 1Q.
Healthequity Inc (HQY) is expected to report $-0.02 for 1Q.
IDT Corp (IDT) is expected to report for 3Q.
JOANN Inc (JOAN) is expected to report for 1Q.
Perma-Pipe International Holdings Inc (PPIH) is expected to report for 1Q.
Science Applications International Corp (SAIC) is expected to report $1.36 for 1Q.
Sprinklr Inc (CXM) is expected to report for 1Q.
Vyant Bio Inc (VYNT) is expected to report for 1Q.
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ANALYST RATINGS ACTIONS
Asana Cut to Neutral From Buy by DA Davidson
Cue Health Cut to Neutral From Buy by Goldman Sachs
Dollar General Cut to Neutral From Overweight by Atlantic Equities
Dollar General Cut to Neutral From Overweight by Piper Sandler
Elastic Raised to Equal-Weight From Underweight by Wells Fargo
EPR Properties Raised to Overweight From Sector Weight by Keybanc
FibroGen Raised to Buy From Hold by Stifel
Ginkgo Bioworks Holdings Cut to Sell From Neutral by Goldman Sachs
Kinsale Capital Group Raised to Outperform From Underperform by BMO Capital
PagerDuty Cut to Hold From Buy by Craig-Hallum
SentinelOne Cut to Hold From Buy by Canaccord Genuity
SentinelOne Cut to Hold From Buy by WestPark Capital
SentinelOne Cut to Neutral From Buy by BTIG
SentinelOne Cut to Neutral From Buy by DA Davidson
Surgery Partners Raised to Buy From Neutral by B of A Securities
Trade Desk Raised to Overweight From Equal-Weight by Morgan Stanley
Valvoline Cut to Neutral From Overweight by JP Morgan
Warner Music Group Cut to Neutral From Overweight by Atlantic Equities
Xcel Energy Cut to Neutral From Overweight by JP Morgan
Xcel Energy Cut to Peer Perform From Outperform by Wolfe Research
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
06-05-23 0628ET
