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Good morning from the Financial Times.

Today is Monday, July 10th, and this is your FT News Briefing.

Israel will start voting on its controversial judicial reforms today,

and US borrowers are feeling the pain from interest rates that's expected to come across as

banks report quarterly earnings this week.

Plus, manufacturers who don't want to deal with China are flocking to a nearby country.

Instead, Vietnam. I'm Mark Filipino, and here's the news you need to start your day.

Israel's parliament is set to start voting on a move that would weaken the country's

Supreme Court. Prime Minister Benjamin Netanyahu wants to remove the court's ability to strike

down government decisions. Netanyahu put the measure on ice back in March after protests

rocked the country. Now, a major Israeli shopping center chain has threatened to temporarily

shut its doors if the bill passes the first of three required parliamentary readings on Monday.

The chain is called the Big Shopping Centers, and it has 24 sites around the country.

It called the vote for judicial reform, quote, another step towards dictatorship.

Big US banks are reporting their second quarter earnings this week. They're expected to show

their biggest jump in loan losses since the beginning of the pandemic.

Join now by the FT's US banking correspondent Stephen Gandell to explain what's going on.

Hey, Stephen. Hi, thanks for having me again.

So why are these loan losses expected to be so high?

Well, consumers are starting to see the impact of higher interest rates and the slow economy,

...