JPMorgan’s net income rose 9% to $14.6 billion in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but the bank warned of global economic uncertainties ahead due to President Donald Trump’s ongoing trade war and other geopolitical calamities.

JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.

JPMorgan says its net income fell to $12.9 billion in the third quarter from $13.2 billion a year ago.

Big banks warned of an uncertain year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.

Bank of America’s profits fell by 8% in the third quarter as the bank set aside cash to cover potential loan losses.

Shares of Deutsche Bank dropped 8.3%. Deutsche Bank has been under scrutiny for years. Deutsche Bank neither admitted nor denied the allegations in the settlement. The London bank HSBC, Europe's largest acknowledged in 2012 that it had laundered at least $881 million for Latin American drug cartels. However, according to the report, HSBC continued to manage money for shady clients, including suspected Russian money launderers and a Ponzi scheme under investigation in multiple countries.

Twitter is dropping the terms "master," "slave" and "blacklist" from its code after two engineers lobbied for the use of more inclusive programming language. "Master" and "slave" refer to one process in the code that controls another, while "blacklist" describes a list of items that are automatically blocked, such as forbidden IP addresses. At Twitter, "master" and "slave" will become "leader" and "follower" or "primary" and "replica," while "blacklist" will become "denylist." JPMorgan Chase will also remove "master," "slave," and "blacklist" from its internal materials and code. "I've been used to seeing the word 'slave' throughout my [computer science] education but this was different."