News in Review: Wednesday, March 22, 2023
What does the news landscape look like?
Trump’s pending indictment and the 2024 campaign are dominating the news. Ongoing banking turmoil remains in second place.
This is how the top stories were covered on each side of the media yesterday:
Trump indictment / DeSantis (40% more on the left)
Banking crisis (22% more on the left)
Putin / arrest / Xi (29% more on the right)
Media bias ratings are from AllSides.
This is how articles from liberal and conservative outlets were distributed over the past five days among the top stories.
Liberal outlets used these words more than conservative outlets:
Conservative outlets used these words more than liberal outlets:
What is happening in the top stories?
Now for a deep dive into our top three stories, starting with…
Trump indictment / DeSantis
Key people: Donald Trump, Alvin Bragg, Michael Cohen, Mike Pence, Vivek Ramaswamy
Former President Trump is facing a possible indictment by Manhattan District Attorney Alvin Bragg in connection to a hush-money payment made to adult film star Stormy Daniels during his 2016 campaign.
Former President Trump is taking advantage of his possible indictment by sending out numerous fundraising emails asking his supporters to donate to his third presidential campaign.
Supporters of former President Donald Trump gathered outside his Mar-a-Lago estate in Palm Beach, Florida, in light of Trump’s potential indictment from a Manhattan grand jury.
Manhattan District Attorney Alvin Bragg has signaled that he is prepared to bring charges against the former president in connection to the hush-money payment made to adult film star Stormy Daniels.
Top Republicans, including some of Trump’s potential rivals for the GOP’s 2024 presidential nomination, rushed to his defense after he said he is bracing for possible arrest.
Former Trump attorney Michael Cohen said that Trump’s calls for a protest against the Manhattan district attorney’s probe signals a desire for “another violent clash” on his behalf.
Former Vice President Mike Pence considers the Manhattan district attorney’s potential indictment of former President Trump to be “deeply troubling” but emphasized that “violence will not be tolerated” as the former president calls for protests.
Key people: Jamie Dimon, Brian Moynihan
First Republic Bank is looking at ways it can downsize if its attempts to raise new capital fail.
Major bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed.
First Republic Bank is examining how it can sell parts of its business, including some of its loan book, in a bid to raise cash and cut costs.
JPMorgan Chase & Co is advising First Republic on its options to raise capital from investors.
First Republic Bank is still currently focused on a capital raise, but a sale of the entire bank remains possible.
Putin / arrest / Xi
Key people: Vladimir Putin, Xi Jinping, Andriy Yusov, Dmitry Peskov, Fumio Kishida
Putin and Xi have a close relationship, with China relying on Russia for oil and gas and both countries standing up to what they see as U.S. domination of global affairs.
Putin launched a military operation on Ukraine in 2022, but after more than a year of combat, Russia’s invasion continues to stagnate, with Ukraine retaking thousands of square miles of formerly occupied territory last fall.
The war has resulted in the deaths of more than 160,000 Russian troops, according to Ukraine, and has prompted the West to issue sanctions weakening Moscow’s economy.
Putin and Xi signed the “Joint Statement by the Russian Federation and the People’s Republic of China on Deepening Comprehensive Partnership and Strategic Cooperation for the New Era,” which outlines a variety of bilateral intentions and affirms the commitment of Russia and China to each other’s state sovereignty and territorial integrity.
Xi’s commitments to Russia during his visit were “relatively tempered” compared to those announced by Putin, according to the Institute for the Study of War.
Xi described China’s approach to Ukraine as “unbiased” and “impartial,” while Putin praised the ceasefire plan Xi proposed last month but said Ukraine and the West weren’t “ready” for peace talks.
Japanese Prime Minister Fumio Kishida made a surprise visit to Ukraine, expressing “great anger at the atrocity” committed there by Russian troops and meeting with President Zelensky.
Putin made a surprise visit to the occupied Ukrainian port city of Mariupol, marking his first trip to the territory since the conflict began.
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