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.

Today's top stories

gettyimages 2294777677

Justice Department charges nearly 80 defendants in COVID loan fraud cases

The Justice Department has announced a crackdown on COVID-19 Paycheck Protection Program fraud, resulting in charges against over 160 defendants and approximately $245 million in intended losses. The initiative, dubbed “Heartland fraud surge,” involved 44 U.S. Attorney’s Offices and targeted fabricated businesses and identity theft schemes.

SEI 309557979 0a9e

Meghan Markle and Prince Harry featured in SNL UK sketch after UK move

Prince Harry and Meghan Markle have returned to the UK with their children, Archie and Lilibet, after living in the US for six years. Reports indicate the couple is focused on settling their children into new schools while maintaining their current status as non-working members of the Royal Family.

696x392 cmsv2 3caadcc0 26e4 57d2 874f c182b4bb19f0 9912393

European Parliament pushes for stricter energy project deadlines

The European Parliament is advocating for stricter EU-wide deadlines and automatic approvals to expedite energy infrastructure development. This initiative seeks to address significant delays in renewable energy projects, with Parliament proposing quicker approval timelines than the Commission and Council, potentially igniting tensions with member states.

Like this article?

Leave a comment

From our sponsors
Advertisement
Advertisement