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U.S. banks and their customers are still feeling the pressure from higher rates.

And two wings of the Republican Party support Trump but are divided on economic policy.

Donald Trump, as you know, is famously not very ideological.

We know he loves tariffs, but beyond that he really hasn't laid down a marker about which of these

two camps he feels more comfortable in.

Plus, AT&T says a hacker stole data on nearly all of its wireless customers.

It's Friday July 12th. I'm Sabrina Siddiqui for the Wall Street Journal.

This is the PM edition of What's News,

the top headlines and business stories that move the world today?

As big US banks have started reporting the results

for the second quarter of the year, it's become apparent that the fight

to rein in inflation continues to weigh on them.

J.P. Morgan Chase, the biggest U.S. Bank, and Wells Fargo both reported a drop in second quarter

profits today. Citigroup reported a drop in second quarter profits today.

Citigroup reported a rise in profits driven in part by the bank sweeping cost cutting measures,

but also set aside more provisions for potential losses in its credit card business.

Banks of all sizes have struggled to adapt to the Federal Reserves faster than expected

interest rate increases, which have also affected banks customers, prompting more to fall

...