Government insists bank system is safe; Biden OKs Alaska oil project; Pfizer buys cancer drug developer | Hot off the Wire podcast

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On this version of Hot off the Wire:

» Depositors withdrew savings, and investors broadly sold off bank shares as the federal government raced to reassure Americans that the banking system is secure following two bank failures.

» The Pentagon intends to load up on advanced missiles, space defense and modern jets in its largest defense request in decades in order to meet the threat it perceives from China.

» The search for the man suspected of killing one small-town Missouri police officer and badly injuring another ended Monday when the man came out of a home that had been surrounded by police. 

» A split among jurors means there will be no death penalty for an Islamic extremist who maniacally raced a truck along a popular New York City bike path, killing eight people and maiming others.

» A person with knowledge of the deal says quarterback Jimmy Garoppolo has agreed to a three-year, $67.5 million contract with the Las Vegas Raiders.

» An agreement between Iran and Saudi Arabia to reestablish diplomatic relations has cast China in a leading role in Middle Eastern politics — a part previously reserved for longtime global heavyweights like the U.S. and Russia.

» The Biden administration is approving a major oil-drilling project on Alaska’s petroleum-rich North Slope. The decision brought quick condemnation from environmentalists who said it flies in the face of the Democratic president’s pledges.

» Pfizer is spending about $43 billion to reach deeper into new cancer treatments that target tumor cells while sparing surrounding healthy tissue. The pharmaceutical giant said Monday it will pay $229 in cash for each share of Seagen Inc.

» Scientists can now see the big picture on water globally — which areas are repeatedly drying and which are getting hammered by extra-strong rainstorms, thanks to new analysis of satellite data.

» On this week’s AP religion roundup, Paris’ iconic cathedral prepares to re-open, and ancient runes reveal the Norse god Odin’s deep history.