A day of escalation in the Middle East
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 October 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
Iran fires missiles at Israel, hours after the IDF launches a ground offensive in Lebanon. France’s new Prime Minister Michel Barnier announced tax rises on large companies and the wealthy, and US business groups warned of economic ‘paralysis’ after tens of thousands of dockworkers went on strike. Plus, investors are seeking to profit from the uncertainty over the outcome of the US presidential race.
Mentioned in this podcast:
Iran launches missile attack against Israel
French premier Michel Barnier announces tax rises and spending cuts
US economy faces ‘paralysis’ before election as dockworkers go on strike
Investors turn to volatility trades to profit from tight US election
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The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | The UK's energy partner. |
| 0:12.0 | Good morning from the Financial Times. Today is Wednesday, October 2nd, and this is your |
| 0:18.0 | FT news briefing. The Middle East edges closer to an all-out war, and in France tax increases may be on the horizon. |
| 0:28.0 | Plus, some investors are betting that political uncertainty in the U.S. could make them a bunch of money. |
| 0:35.4 | I'm Sonia Hudson and here's the news you need to start your day. The conflict in the Middle East has majorly escalated. |
| 0:43.0 | Israel launched a ground in Conflict in the Middle East has majorly escalated. |
| 0:53.6 | Israel launched a ground invasion into Lebanon |
| 0:56.3 | in the early hours of Tuesday morning, |
| 0:58.4 | and then Iran fired almost 200 missiles |
| 1:01.9 | into Israel later in the day. Most of them were |
| 1:05.1 | intercepted by Israel with the help of the US Navy and according to the US |
| 1:10.1 | the Iranian attack did not damage any strategic assets. |
| 1:15.0 | Now, this is all something the U.S. desperately wanted to avoid, says the F.T. |
| 1:20.0 | 's Washington Bureau Chief James Pallidi. |
| 1:23.0 | Ever since the October 7th attacks by Hamas against Israel, the U.S. has tried to limit really the conflict to Israel and Palestine. |
| 1:35.0 | And that objective has really fallen apart in the last few weeks |
| 1:40.0 | because the threat posed by Iran to Israel have really flared up and the fact that Israel has kind of expanded the scope of its own attacks on Iran and its proxies. This is not what the US wanted to see happen, but it's actually happening now. |
| 1:57.0 | The US has tried repeatedly over the past year to broker a ceasefire. |
| 2:02.0 | First in Gaza and more recently in Lebanon. |
| 2:06.6 | But now James says that the situation in the Middle East is deteriorating, almost in defiance |
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