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Good morning. The dying toll from Hamas’s unprecedented multi-front assault on Israel handed 600 on Sunday, as Israeli forces hunted Palestinian militants nonetheless holding out in a number of places within the south of the nation.
By Sunday afternoon, Israel had regained management of many of the places infiltrated by Hamas militants who stormed into the nation from Gaza by land, air and sea earlier than inflicting the best variety of casualties in a single assault inside Israel’s borders for the reason that state was based in 1948.
Nevertheless, Prime Minister Benjamin Netanyahu warned that the Jewish state nonetheless confronted a “lengthy and tough” battle with Hamas, as his safety cupboard formally declared conflict. Israeli officers mentioned the Palestinian militant group was holding greater than 100 Israelis, together with girls and youngsters, whom it had taken hostage throughout its assault on Saturday.
Israel responded to Hamas’s assault — which it mentioned left greater than 600 Israelis useless and greater than 2,000 wounded — with an enormous bombardment of Gaza. It additionally hit targets in Lebanon on Sunday after the Iran-backed Hizbollah militant group fired mortars in the direction of Israel.
Officers in Gaza mentioned 413 individuals had been killed by Israeli strikes on the territory and that 2,300 had been wounded. One official within the enclave mentioned its hospitals have been operating at full capability due to the variety of casualties they’d obtained since Saturday.
“The principle hospitals’ capability in Gaza is 2,000 beds,” Medhat Abbas, a director-general with the well being ministry, informed the Monetary Occasions by telephone. “The variety of sufferers now we have obtained since yesterday morning is now greater than 2,000. The state of affairs could be very unhealthy.” Read the full story.
Right here’s extra FT protection of the escalating Israeli-Palestinian battle:
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The mastermind behind the assault: Mohammed Deif, commander of the navy wing of Hamas, is described as single-minded about altering the character of the Israeli-Arab battle, and using violence as a means to achieve it.
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Regional influence: Hamas’s shock assault on Israel struck a blow to US President Joe Biden’s efforts to safe a grand cut price that normalises relations between Saudi Arabia and Israel.
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Blame sport: The inquest into what went unsuitable forward of Hamas’s assault may lead Israel down a dangerous path, writes Gideon Rachman.
And right here’s what I’m holding tabs on in the present day:
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International economic system: The IMF and World Financial institution’s annual conferences start in Marrakech, Morocco. The IMF will even publish its newest World Financial Outlook.
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Stories: Opec launches its annual World Oil Outlook.
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China: Monetary markets reopen after the Golden Week vacation.
5 extra high tales
1. US carmaker Ford, Brazil’s Vale, China’s Tsingshan and Hong Kong’s Jardine Matheson are invested in Indonesian nickel initiatives chargeable for the clearance of huge swaths of a few of the world’s most biodiverse forests. As demand will increase for electrical vehicles and the nickel batteries that energy them, no less than 76,301 hectares — an space the dimensions of New York Metropolis — of tropical forests has been cleared inside 329 nickel concessions, in line with new knowledge. Read the full story.
2. Financial institution of America, Barclays and different giant banks that bought caught holding billions of {dollars} of leveraged loans in 2022 are sitting on the sidelines this yr even because the buyout market revives. The group has develop into extra reluctant to steer the financing for riskier buyouts, apprehensive that the loans may get caught on their stability sheets, bankers and buyout executives told the FT.
3. A number of hundred individuals have been killed in an earthquake in western Afghanistan, Taliban officers mentioned, one of many deadliest pure disasters to hit the remoted nation in years. The 6.3-magnitude quake struck an space close to Herat, near Afghanistan’s western border with Iran, on Saturday. Efforts to account for casualties have been complicated by the lack of state capacity and aid agencies in the region.
4. India should not let a handful of conglomerates “outline its future”, the billionaire who based one of many nation’s largest banks has warned, as he urged the nation to goal for broader development with many “winners”. The feedback by Uday Kotak replicate considerations {that a} handful of tycoons and storied enterprise homes have come to dominate swaths of the Indian economic system. Here’s the full interview.
5. Germany’s conservative opposition received two decisive victories in regional elections on Sunday, whereas the three events in chancellor Olaf Scholz’s governing coalition noticed their share of their vote shrink in each states. However the day’s different massive winner was the far-right Various for Germany which has soared within the polls in latest months on a wave of anger over rising refugee numbers. FT’s Germany correspondent Guy Chazan reports.
Information in-depth
![People react at the site where a rocket launched from the Gaza Strip landed in Tel Aviv on Saturday](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8ebbc87f-32b1-428e-882a-99eb659a8eea.png?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)
A day after the unprecedented assault from the Gaza Strip shocked Israel and its vaunted military, Israelis have been left traumatised at what they’d seen on their streets and of their houses — and by the apparent unreadiness of authorities tasked with defending them.
We’re additionally studying . . .
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Netflix and invoice: Ever forgotten to cancel a subscription? Companies are cashing in on our carelessness.
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Worker perks: Extra firms are offering egg freezing as a profit for employees, masking the price of the method as a part of fertility packages price 1000’s.
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SBF trial: Monetary nihilism has produced this game of Monopoly money within the crypto world, writes Jemima Kelly.
Chart of the day
China’s producers have lower costs this yr because the home economic system has weakened, potentially bringing some relief to western gift shoppers this Christmas. “I’d say broadly the provision image popping out of China this yr is vastly higher than it has been for the previous few years,” mentioned Even Pay, an analyst at Trivium China.
Take a break from the information
Dumb Cash is a brand new kind of underdog story, however the movie business’s obsession with finance — and “finance bros” — isn’t. The 1987 drama Wall Road, notably its ruthless villain, has for greater than three many years served as a touchstone for younger males in finance. Soraya Roberts examines why the movies never got over Gordon Gekko.
![Michael Douglas as Gordon Gekko in Wall Street](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F66fe3f1e-2f64-4f40-8c7b-07c1ed0f7c83.png?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1)