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

1781398813 416e454d926274c85b098ea3aba45e426ec58cc67df0b901104118f0f116e3b4

World Cup economic impact evident as fans crowd Toronto streets

Toronto’s hotel operators report June occupancy rates are lagging behind last year’s figures, despite vibrant patios and fan zones energising the city during the World Cup. The decrease in bookings raises concerns about the impact of the tournament on local hospitality.

gettyimages 525617474

Section 702 surveillance authority expires as Congress fails to act

Section 702 of the Foreign Intelligence Surveillance Act has expired, compromising the government’s ability to collect foreign intelligence without a warrant. Its lapsed status may affect cooperation from telecommunications providers, though existing authorisations remain in effect until their predetermined expiration dates.

696x392 cmsv2 ee656b91 0231 5781 85c2 88f9b81ae611 9796721

Trump announces potential Iran peace deal ahead of G7 summit in Évian

US President Donald Trump announced a potential peace deal with Iran could be signed on Sunday, aiming to reopen the Strait of Hormuz. This statement contradicts Iran’s foreign ministry, which indicated the agreement would not be finalised as expected. The developments come ahead of the G7 summit in Évian.

AP26103713873653 1776138849

Jewish diaspora challenges prevailing views on Israel amid Gaza conflict

Longstanding tensions between progressive Jewish groups in the US and Israeli officials were spotlighted during the annual Israel Day Parade in New York, attended by Finance Minister Bezalel Smotrich. Protesters voiced opposition to the event, linking Israel’s actions in Gaza to their identities as Jews and calling for a reassessment of support for Israel.

Like this article?

Leave a comment

From our sponsors
Advertisement
Advertisement