FT News Briefing Biden urges Israel to take caution
Oct 19, 2023
President Biden stresses the importance of humanitarian aid in Gaza during a recent visit to Israel. The Israeli shekel faces mounting pressure as traders bet against it amid the ongoing conflict. There’s insight into how rising import costs could impact Israel's economy. Meanwhile, Netflix shows promising subscriber growth, and tensions arise over Beijing potentially delaying a major tech merger involving Broadcom and VMware. The podcast dives deep into these pressing global issues and their economic implications.
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Gaza Aid Deal
- Israel will allow humanitarian aid into Gaza through Egypt after a request from President Biden.
- This decision follows a hospital explosion that killed hundreds, with conflicting claims of responsibility.
Shekel Under Pressure
- Investors are betting against the Israeli shekel due to the escalating war and potential interest rate cuts.
- This pressure, despite the central bank's intervention, has weakened the shekel to its lowest level since 2015.
Netflix Growth
- Netflix exceeded expectations by adding 9 million subscribers and plans to raise prices in several countries.
- This positive news boosted their share price significantly.