Good morning, here’s your Wednesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
The world’s chemical weapons watchdog meets in the Netherlands
Russian and British ambassadors will attend a meeting of the world’s chemical weapons watchdog in the Netherlands today where the poisoning of former Russian spy Sergei Skripal will be discussed.
The meeting will give Russia and the UK a platform to build international support.
A report by the Organisation for the Prohibition of Chemical Weapons (OPCW), released earlier this month, did not name the nerve agent as Novichok, but said it agreed with the UK’s findings on its identity.
The UK has accused Russia of being behind the attack, but Moscow denies involvement. The UK has called for a UN Security Council meeting on the OPCW report, which could be held this week.
Meanwhile, a massive clean-up operation is beginning to decontaminate the city of Salisbury — expected to take several months and cost millions of pounds.
May meets with Modi and braces for UK Parliament Brexit defeat
The UK’s Prime Minister Theresa May will meet with India’s leader Narendra Modi today, where his push for loosened visa restrictions for Indians wanting to work in the UK will likely be again rebuffed.
The meeting will happen on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) taking place in the UK cities of London and Windsor this week.
Meanwhile, the UK’s House of Lords is expected to inflict an embarrassing defeat on May’s government today, challenging her refusal to remain in a customs union with the European Union after the UK quits the trade bloc in less than a year’s time.
Analysts expect Morgan Stanley to post its best earnings since 2008
Analysts are expecting US bank Morgan Stanley’s best quarterly earnings showing since 2008 when it reports its first quarter today.
Analysts are projecting profits of $2.2 billion on revenue of $10.4 billion at $1.25 a share.
In January, Morgan Stanley revealed 2017 revenue rose 10% and the firm finally hit a goal of 9% return on equity. It also beat other stated targets, including profitability in its wealth-management division and brought a trading division once prone to blowups under control.
Yesterday, Morgan Stanley’s long-time rival Goldman Sachs posted its best quarterly revenue figure in three years.
Meanwhile, the four biggest US banks — JPMorgan Chase, Wells Fargo, Citigroup, and Bank of America — made $2.3 billion from the new US federal tax law in the first quarter of the year alone.