Banks' Stability Amidst a Potential Recession and Goldman Sachs' Profits Decline

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This chapter discusses the stability of banks during a potential recession and the risks they may face. It explores the slow squeeze on banks' profits, rising rates, increasing defaults, and bankruptcies, along with the impact on major banks such as Goldman Sachs.

Alarm is mounting in Egypt that Gaza’s deepening humanitarian crisis will be thrust across its borders, Scotland’s first minister said the country would issue its own government bonds for the first time, and big US bank earnings have been better than expected.

Mentioned in this podcast:

Fear of Gaza exodus looms over Egypt

Scotland to issue bonds for the first time, says SNP’s Humza Yousaf

BofA profits beat forecasts

JPMorgan profits jump 35% on interest rate windfall

Citi profits edge higher despite worries over consumer finances

Goldman chief David Solomon calls time on high-profile DJ gigs

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, 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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