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i m going to be discussing it with these three, there they are, matthew plosser from the new york federal reserve, liz lumley from the banker magazine, and frederic malherbe from university college london, who thinks central banks should consider more radical steps to get the banks to pass on better deals for savers. plus, the boss behind the trains of tomorrow. my interview with the global ceo of one of the world s biggest train and tram makers, on the future of transport across the world. wherever you arejoining me from around the world, once again a big hello, and warm welcome to the show. you know, across the world s most powerful countries, the cost of borrowing money has been going up. central banks, they ve been raising the interest rates to tackle inflation. and while banks have been lightning fast in passing on those rising rates to those who borrow from them, those who save with their banks, well, they ve not been seeing the same immediate reaction. if they wa ....
the australian prime minister, and the us president. the three countries are expected to agree to provide australia with nuclear powered submarines. now on bbc news, talking business. welcome to talking business. take a look at what is on the show. rates are rising around the world so why aren t more savers getting a better deal from the banks? bumper profits are expected from the biggest financial institutions this year as they charge more to borrow but those with savings have not been the same consistent increase in with what they get paid with putting money in the bank. so why not? i would discuss this with these three, we have the new york federal reserve, the banker magazine and the university of couege magazine and the university of college london, who thinks that central banks should consider more radical steps to get banks to pass on better deals for savers. plus what is behind the trend of tomorrow, my interview with a global ceo with one of the biggest tram an ....
that they ve been restricted from using, in their ongoing criminal probe into these classified documents, that were seized from mar-a-lago last month. the appeals court is saying here, they are really agreeing with the justice department, saying that yes, in fact, national security could be harmed if the justice department can t continue its probe here. they set the doj has argued that the criminal investigation, and then national security investment is inextricably linked. the appeals court saying, yes, in fact, if we don t let the doj continue to use these classified documents, there will be real and significant harm on the united states and the public. notably, in this opinion as well, anderson, the 11th circuit is really faulting trump s lawyers, for not better explaining what seems to be their argument, the trump may be declassified [inaudible] his lawyers, his allies, but they ve not offered any proof in court filings or in-person. so the 11 circuit tonight crit ....
Sorry to interrupt, liz, just for the uninitiated, can you explain why the banks from 2020 onwards have been making these record profits? a bank is a regulated entity that takes deposits and makes loans. but what banks do is hold money. and move it around. like, that is. that is the basic bank business. so, with all this cash in the system, there is a lot more cash than they have in their reserves, that s part of their business. not every investment bank, but a lot of investment banks also profited from the stock market volatility that we ve been going through over the past three years because of covid. there are some good deals out there, aren t there? particularly from newer banks, who need to attract the cash. yeah, i mean, in the uk, there s rates of 3% or 4% but newer banks are offering better rates, like, around 3% or 4%, and they are offering better products to attract new customers. also newer banks, like ....
And makes loans. but what banks do is hold money. and move it around. like, that is. that is the basic bank business. so, with all this cash in the system, there is a lot more cash than they have in their reserves, that s part of their business. not every investment bank, but a lot of investment banks, also profited from the stock market volatility that we ve been going through over the past three years because of covid. there are some good deals out there, aren t there? particularly from newer banks, who need to attract the cash. yeah, i mean, in the uk, the rates of 3% or 4% but newer banks are offering better rates, like, around 3% or 4% that they are offering better products to attract new customers. also newer banks, like in the uk, starling, monzo, raisin in germany, they don t have the infrastructure and legacy ....