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Global News Podcast

JP Morgan Chase to take over failed US bank

Global News Podcast

BBC

News, Daily News

4.38.3K Ratings

🗓️ 1 May 2023

⏱️ 34 minutes

🧾️ Download transcript

Summary

First Republic is the third US bank to collapse in the last two months. Also: aid agencies warn of an escalating humanitarian disaster in Sudan, and how artificial intelligence can help detect early-stage lung cancer.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Global News Podcast from the BBC World Service.

0:04.7

I'm Garas Barlow, I'm at 14 hours GMT or Monday the first of me.

0:08.7

These are our main stories.

0:10.7

Another bank in the US goes bust.

0:12.8

We'll look at the collapse of First Republic Bank.

0:15.7

We join a Saudi warship as it crosses the Red Sea

0:18.9

and hear from those on board who have fled the fighting in Sudan.

0:22.4

And hear how artificial intelligence is being used

0:25.1

to help detect early-stage lung cancer.

0:27.7

Also in the podcast, you can change what you wear,

0:32.9

but you are still a terrorist.

0:35.8

Don't forget the $10 million reward on your head.

0:39.5

The story of the charm offensive by a Syrian jihadist leader

0:42.9

who fails to impress the Americans.

0:47.9

We start this podcast in the United States, where the financial system has

0:51.8

suffered another big shock.

0:53.7

First Republic has become the third major bank to collapse in the last two months.

0:58.2

It had been brought to the brink by a run on deposits when its customers

1:01.6

withdrew $100 billion in March alone.

1:05.1

Now, after much negotiations, the US financial regulator

1:08.5

has announced that it's agreed a deal with another bank,

1:10.9

the giant JP Morgan Chase, to take over all the deposits

...

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