FT News Briefing A power struggle in Sudan
Apr 18, 2023
Discover Apple and Goldman Sachs' new high-interest savings account that promises rates over ten times the national average. Delve into the complex power struggle in Sudan, where military leaders clash amid economic interests and historical tensions. Explore the implications of regional influences from the UAE and Saudi Arabia on Sudan’s stability and governance. Additionally, learn about a Chinese genetics company's ambitious US expansion despite rising political tensions. Stay informed on pressing global issues!
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Apple Savings Account Disrupts Banks
- Apple's new savings account with Goldman Sachs offers 4.15% interest, significantly higher than the average U.S. savings rate.
- This poses a threat to traditional banks already facing deposit outflows to higher-yielding options like money market funds.
MGI Tech's US Expansion Raises Concerns
- Chinese genetics company MGI Tech plans to expand in the U.S. despite its former parent company, BGI, being on a U.S. government blacklist.
- This raises concerns given the potential sensitivity of genetic data and MGI's continued links to BGI.
Sudan Power Struggle
- The conflict in Sudan is a power struggle between the army head, General Burhan, and his deputy, General Hemeti, who leads a paramilitary force.
- Their dispute over integrating Hemeti's force into the army led to the current violence.