Good morning! Here’s what you need to know.
Profits crashed at Goldman Sachs. Net earnings of $1.14 billion were down 59.9% from the same period last year.
Barclays lost an FX director. Barclays’ head of foreign exchange for corporate clients, Gareth Noble, has left the bank, according to a person familiar with the matter.
Budweiser sold Peroni. Anheuser-Busch InBev, the brewer which is in the process of acquiring rival SABMiller, said it accepted an offer from Japan’s Asahi Group for Peroni and a group of other SAB beer brands.
China wants a stake in the owner of KFC. China Investment Corp, China’s state-owned sovereign wealth fund, is backing a group of investors who have expressed interest in buying a majority stake in Yum Brands Inc’s China unit.
BAML is finally bullish on emerging markets. Bank of America Merrill Lynch said on Tuesday it was turning “structurally bullish” on emerging equities, revising its five-year long negative view on the sector.
Transferwise opened a Mexico-US money transfer business. The British-Estonian money transfer startup is officially launching its service for money transfers between the US and its southern neighbour.
The American housing market is coming off the boil. US housing starts fell more than expected in March and permits for future home construction hit a one-year low, suggesting some cooling in the housing market in line with signs of a sharp slowdown in economic growth in the first quarter.
Brexit would be bad for security. A British decision to leave the European Union would involve serious security consequences, the director of the European Union’s law enforcement agency Europol said.
The EU is looking to halt an anti-Uber law. The European Union is working on a legal challenge against a French law on taxis and chauffeured cars following a complaint from smartphone ride-hailing app Uber.
Panama wants to get better on tax transparency. Panama will adopt international tax reporting standards and participate in the automatic exchange of tax information by 2018, President Juan Carlos Varela told Japanese media on Tuesday, as his country came under a harsh spotlight in the wake of the “Panama Papers” controversy.