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At equinore. UK. Good morning from the Financial Times. Today is Monday, April 15th, and this is your

F-T news briefing. Israel is debating how to respond to Iran's attack and big US banks are looking at a more uncertain future.

Plus a major Chinese lithium producer made a big bet in Chile, but now it's having buyer's remorse.

I'm Kasha Brousallian and here's the news you need to start your day. Israel's war cabinet met yesterday to discuss the unprecedented strike by Iran.

The Islamic Republic fired hundreds of drones and missiles at Israel

over the weekend. Almost all were intercepted. The barrage was in retaliation

for a suspected Israeli strike on Iran's consulate in Syria.

This was the first time Iran has directly attacked Israel.

Discussions were ongoing with all of Israel's key partners, including the US,

where President Joe Biden's administration has called for restraint.

We don't seek a war with Iran, we're not looking for escalation here, we will continue to help Israel

defend itself.

Pressure has now increased on U.S. lawmakers to pass additional military aid to Israel.

Republicans plan to call for a vote in Congress in the coming days.

There's growing fear that the attack could lead to a full-blown regional war. Large U.S. banks have been able to rake in money thanks to higher interest rates recently and they're able to do that because

of something called net interest income.

But it looks like the good times are coming to an end.

J.P. Morgan Chase, Wells Fargo, and Citigroup all reported first-quarter earnings on Friday

and warned that the future looks a little rocky.

I'm joined now by the F.T.'s Josh Franklin to talk about it. Hey Josh.

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