Weekly Global News Wrap Up: US banks' profits up 1.4% to $43.6bn in 2Q16; European bankers’ bonuses slashed $2.5bn; Why tech talent shy away from banks

And HSBC executive pleads not guilty to conspiracy charges.

• CNBC reports that the rise in earnings was due to growth in lending fueled interest income. It marks a record profit for the industry, but according to CNBC, the impact of low oil prices on energy companies led banks to continue to post bigger losses on commercial and industrial loans. Read more here.
• According to data compiled by Bloomberg, a rout in financial stocks this year has wiped more than $2.5 billion from the value of deferred shares that were paid as bonuses in the past few years at Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG. Awards for staff at Credit Suisse have plunged by more than 1.2 billion Swiss francs ($1.2 billion) on a 42 percent drop in shares this year, as Brexit added to pressure European bank stocks were already facing from costly restructuring efforts. Read more here.
• CNBC reports that Wall Street banks are having trouble attracting talent due to increasing competition in salary and bonuses. Push Patel from Options Group says, “After the crisis a few years back, the technology industry as a whole has come a long way increasing base salaries, creating perks and other benefits.” Read more here.
• According to Reuters, Mark Johnson, a senior HSBC Holdings Plc executive pleaded not guilty on Monday to charges that he participated in a fraudulent scheme to front-run a $3.5 billion currency transaction by one of the bank's clients. Read more here.