FT News Briefing Israel’s PM Netanyahu agrees to postpone judicial reforms
Mar 28, 2023
Israeli Prime Minister Netanyahu has decided to delay controversial judicial reforms, stirring a wave of protests from citizens concerned about democracy. Meanwhile, the arrival of German Leopard 2 tanks brings support to Ukraine in its ongoing conflict. In the banking world, First Citizens Bank's stock soared nearly 50% after announcing its acquisition of assets from the collapsed Silicon Valley Bank, highlighting a significant shift in financial stability. These topics showcase the intertwining of political unrest and economic developments on the global stage.
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Netanyahu Postpones Reforms
- Israeli Prime Minister Benjamin Netanyahu postponed judicial reforms after mass protests.
- These protests were triggered by concerns about the reforms and broader anxieties about Israel's future.
Reasons for Protests
- The protests stemmed from concerns about the reforms giving the government unchecked power.
- Protesters also worried about how this power might be used, turning the protests into a larger ideological battle.
First Citizens Bank Acquisition
- First Citizens Bank acquired Silicon Valley Bank, causing its shares to surge.
- Government incentives, including loan discounts and loss sharing, sweetened the deal.