FT News Briefing

Hamas is not Israel’s only concern

Oct 12, 2023

09:18

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US banks expected to have decreased profits, Israel fights on northern border with Lebanon in addition to conflict with Hamas, star witness in Sam Bankman-Fried trial testifies, Birkenstock shares drop on first day of trading

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Quick takeaways

Fall in Q3 profits for big US banks due to cautious lending practices and low interest rates.

Possibility of a wider conflict for Israel, fighting Hamas in the south and Hezbollah in the north, raising concerns for the international community and the US.

Deep dives

U.S. bank earnings expected to decline in Q3

Analysts predict that the six largest U.S. banks will see a fall in their third-quarter profits compared to the previous year. This decline is attributed to the slowdown in lending, particularly corporate lending, as borrowers are cautious about taking out new loans due to current interest rates. To mitigate the decline, banks are focused on maximizing loans, cautious credit practices, and gradually increasing the rates offered to savers to maintain deposits.

Introduction

2min

Challenges Faced by Banks and Strategies to Maintain Profitability

2min

Investment banking, FTX trial, and concerns of a wider conflict

4min

Conflict Between Israel and Hamas and the Potential Involvement of Hezbollah and Iran

3min

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?

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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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