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Analysts predict a decrease in profits for major U.S. banks, such as J.P. Morgan Chase, Wells Fargo, and Citigroup, in the upcoming earnings reports. Discover the reasons behind this anticipated decline from the FT's U.S. banking editor.

Analysts forecast that four of the six big US banks will see Q3 profits fall year on year, Israel has been fighting on its northern border with Lebanon in addition to war with Hamas,and the star witness in the Sam Bankman-Fried trial testifies. Plus, shares in Birkenstock dropped more than 12 per cent on their first day of trading.

Mentioned in this podcast:

Rising interest rates curb lending growth for big US banks

Birkenstock shares slip on first day of trading

What links Hamas to the ‘Axis of Resistance’ and its patron Iran?

Access 50 per cent off of a digital subscription FT.com/briefingsale

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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