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What Banks Tell Us About Covid19 Era Business Everybody Is Struggling

Four biggest American banks nearly doubled amount set aside to cover soured corporate loans. 


Black unemployment has historically been higher than white unemployment in the U.S. This gap was narrowing before the coronavirus pandemic. But with unemployment hitting record highs across the board, Black Americans could be left even further behind. Photo illustration: Carter McCall/WSJ.


Big banks expect the coronavirus recession to cut a wide swath through corporate America.
When they reported second-quarter earnings this past week, big U.S. lenders said they don’t expect the U.S. economy to pull out of its slump soon. A protracted downturn, bank executives said, bodes poorly for all manner of American businesses, even those not directly affected by the travel bans and social-distancing measures put in place to curb the virus.


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