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Good morning from the Financial Times.

Today is Monday, April 17th, and this is your FT News Briefing.

Voters in Turkey are heading to the polls next month, and it could be a nail-biter.

Many people say this is the toughest election battle Erdogan's had in two decades in power.

One of the biggest U.S. brokerages lost a major shareholder in the recent banking panic.

And companies around the world are biting at Washington's industrial subsidies.

We've got some new data.

I'm Jess Smith, in Fremark, Filipino, and here's the news you need to start your day.

Companies have committed more than $200 billion to U.S. manufacturing projects in the past year.

That since U.S. lawmakers passed the Inflation Reduction Act and the Chips Act,

both these laws are aimed at boosting key U.S. industries, like clean tech and semiconductors.

So there's lots of subsidies.

The FT compiled data, and they show that commitments in those two industries is double what it was in 2021.

In the past month, several Asian companies, including Korea's LG, have announced deals.

The U.S. brokerage Charles Schwab reports earnings today.

And it's an interesting one to watch, because this broker is also a lender.

So it shares tanks during last month's panic over bank stability.

Now, during that time, one of Schwab's biggest shareholders totally bailed.

An asset manager called GQG Partners sold its entire $1.4 billion stake in Schwab,

and it had only recently bought those shares.

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