Good morning from the Financial Times.

Today is Thursday, October 15th.

And this is your FT news briefing.

Wall Street Banks reported lower loan loss provisions in this most recent quarter, but it wasn't enough to wow investors.

And the Netherlands and France team up in a rare moment of cooperation against big tech.

Plus Amazon's been one of the biggest corporate winners of the pandemic, but can it keep it up during

what will be an incredibly busy winter? I'm Mark Filipino, and here's the news you need to start

your day. As we mentioned a little earlier in the week, bank stocks had been riding high coming into this earnings season.

But investors don't seem to be overly impressed by what they've seen from US Bank Earnings reports.

I'm with the FT's US banking editor Laura Noonan.

Laura, why the lack of enthusiasm from investors this week?

So what we saw this week very generally if we take the five banks that have reported so far is that

loan loss provisions, which is the charges

they book every quarter they came through a whole lot lower than we saw in the

second quarter and also a lot lower than people expected which was good news and

which helped earnings a lot.

We also saw some very strong performances from the banks trading businesses because markets were

volatile and banks made money.

So we saw some big earnings jumps there.

So like Goldman Sachs almost double its quarterly profits

because of this versus a year earlier.

Share prices haven't really responded as you might expect them to respond

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