Financial Times - Savers withdrew nearly $60bn from three US banks as Apple raises heat

Summary of the front page

The Financial Times says savers withdrew nearly $60bn from US banks Charles Schwab, State Street and M&T in the first quarter as customers moved their money in search of higher interest rates. Traditional banks could face further threat because of Apple and Goldman Sachs’ new savings account in the US that will pay 4.15% interest a year, it reports. 

The paper’s main image is of Vladimir Kara-Murza, a Russian opposition activist, during a court hearing in Moscow where he was sentenced to 25 years in prison for treason.

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Extreme heat warning issued for Midwest and Eastern US as temperatures soar

What’s happening?

The U.S. Midwest and East Coast are facing a severe heatwave, driven by an extreme weather phenomenon known as a “heat dome.” This situation is expected to lead to dangerous temperatures rising into the triple digits, prompting multiple heat advisories across affected regions.

In an analysis of coverage, NPR reports: “A ‘heat dome’ is driving dangerous heat across the U.S. into the July 4 weekend,” focusing on the immediate health risks and advisories for residents. Conversely, The New York Times states: “‘Heat Dome’ Could Bring Triple-Digit Temperatures to the Midwest and Eastern U.S.,” framing the story around the potential temperature impacts. This difference illustrates NPR’s emphasis on urgent health warnings versus The New York Times’ focus on the broader climatic implications of the current weather pattern.

Coverage analyzed: NPR | The New York Times | FOX 9 Minneapolis-St. Paul | The Guardian

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