FT News Briefing Israel debates retaliation against Iran
Apr 15, 2024
Tensions escalate as Israel considers its response to a major attack by Iran, raising fears of a wider conflict. U.S. lawmakers face intense pressure to greenlight military aid for Israel. Meanwhile, major U.S. banks navigate the challenges of rising interest rates as depositors demand higher savings rates. In the lithium market, Tianqi Lithium's $4 billion investment in Chile encounters risks amid local reforms. The competition for lithium, critical for electric vehicle batteries, is heating up against a backdrop of geopolitical shifts.
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Israel-Iran Conflict Escalates
- Israel is debating its response to an unprecedented direct attack from Iran involving missiles and drones.
- The attack, a retaliation for a suspected Israeli strike in Syria, raises regional war concerns.
US Bank Profitability Pressured
- US banks benefited from rising interest rates, increasing net interest income.
- Depositors now demand higher savings rates, pressuring banks' profitability.
Tianqi's Chilean Lithium Gamble
- Tianqi Lithium invested heavily in Chile's SQM, aiming to capitalize on lithium demand.
- Chile's move to nationalize lithium resources threatens Tianqi's investment.