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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What’s going on?
Iran has commenced a week of funeral ceremonies for Ayatollah Ali Khamenei, the country’s late Supreme Leader. The events are marked by significant public displays and security measures across the nation. Mourning periods are a critical aspect of national culture and politics in Iran.

In a contrasting take, CBS News states, “U.S.-Iran Latest: Slain supreme leader’s coffin on display as Iran gears up for dayslong funeral, with peace talks paused,” focusing on the ceremonial aspect and potential political implications. Conversely, CNN’s headline reads, “Iran sends defiant message to Trump with colossal funeral for slain Supreme Leader Ali Khamenei,” emphasising a confrontation with external powers amidst domestic mourning.

Coverage analysed: CBS News | CNN | The Times of Israel | NBC News

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