Another rough day for US regional banks

Apple said on Thursday that revenues shrank for a second straight quarter, the European Central Bank raised interest rates by a quarter of a percentage point, and US regional banks suffered severe stock declines. 

Mentioned in this podcast:

ECB raises rates as Lagarde warns of ‘more ground to cover’

Western Alliance shares recover after it denies report of potential sale

What’s changed for regional banks this week?

Apple reports weaker revenue for a second straight quarter

Ed Sheeran wins ‘Let’s Get It On’ copyright infringement trial

Ed Sheeran’s Thinking Out Loud © 2014 Asylum Records UK, a Warner Music UK Company

Marvin Gaye’s Let’s Get It On © 2001 Motown Record Company L.P.

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. 

Read a transcript of this episode on FT.com

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