a d minor on a just 0. this is the image of hong kong damsels visitors, a bustling glamorous city. but under ground, a different reality appears. official figures released in november show the number of people experiencing homelessness is the highest in a decade. and this shop rise in the number of women experiencing housing insecurity . that report also said there's need for better services and more funds for hostile accommodation as the situation was, since it's the middle of winter here in hong kong, and the temperature often drops below 10 degrees at night. people in this underpass of repairing for another night, exposed to freezing conditions. ah, banking songs, take a beating as markets open in the west credit switches as an all time loan will be

live from wall street. ah, and all that has been brought in this is alex's even live from don't also coming up with in below we be more than 200 people have been killed. thousands displaced off to cyclone friday was flags and lance lies the crime and says, relations for the u. s. i would a lamentable state after washington accuses russia. of course, the down of one of its drugs is over the black sea. and a course on pakistan delays the arrest of former prime minister. and ron con, off to his supporters, confined to police enough for ah, we begin in the united states where stock market turmoil is continuing in the wake of the collapse of to tech focussed about and battles with trust in the financial

sector shaken, american banking shares tumbled at wednesdays, opening bell small and mid sized banks will some of the heaviest losses. but international play is also being hit hard. swiss lender credit suisse plummeted more than 25 percent on u. s. and european exchanges. its shares has an all time low after a major and besta said it wouldn't provide extra cash. that's bringing correspond kristin. salumi, she is joining us from wall street in new york. renewed concerns about the banking sector. kristen, tell us about why talk us through why credit suisse as shares have fallen so low. right, so earlier this week, credit suisse acknowledged what it described as, quote, material weaknesses. and it's financial reporting for the years of 20212020. to combine that with news to day that it's major investor, it's leading investor,

the saudi national bank said that it would not be able to provide more funding to shore up. credit suisse is finances this because of regulatory issues, not necessarily because of concerns about the bank, but that was a not to worry investors about the state. not only of credit suisse, but of the banking industry in general, following on the failure of those to us banks in the last week. and we have markets here in new york in negative territory. again, the dow jones industrial average in the us and p $500.00, both down more than one and a half percent on these renewed concerns. regional banks had been the focus of attention here in the united states. those are the 2 that failed in the last week. silicon valley in san francisco and signature bank here in new york. but now the major banks are also feeling the pain banks like city and wells fargo

also seeing there. stocks declined today as investors worry about not only the economy, but bank's ability to weather the economic headwinds. as they are happening. the united states regulatory agencies for us markets, the securities exchange commission, attempting to con, concerns, saying that it will prosecute any banking executives who are not handling the situation appropriately. but clearly we're seeing investors worried their budget, plunging their money into government treasuries, which are considered a more safe investment. but that in turn puts more pressure on the banks and their bottom line. so more concerned, more hesitancy on the wall street exchange markets. you see the highway cousin. thank you very much for that. kristen sending me the latest from wall street. let's

to stay with the storybook join now by mach oswell chief economist at 80 and investor services international. and he's joining us live from london. thank you very much. for your time, why what credit suisse is biggest back her sal, the national bank, rule out further assistance to the bank. well, one, there's a regulatory aspect to it that their stake in any entity can be never more than 10 percent. so, but as the saudi national bank chairman explained this morning that they wouldn't do it in any case. and that really was more damaging part. and to a certain extent of it, one has to say a lot of this is already priced into the credits. we share price bond coming hot on the heel. well, those originals bank collapses. it doesn't really help. what kind of repercussions could problems at a major bank like credit suisse have on the why to banking sector?

well, i think it's getting everybody to actually have a much closer look at some of the off balance sheet risk. but some of the banks have but some of the accounting practices, they have all switching things from available to sale for sale to whole to maturity . but then finding that they have a deposit run and it's the structural issues. a lot of this actually relates to some of the relaxation of banking sector regulation back in 2018 on the, from the government. which basically has allowed people to indulge in legal practices. but ones which are not necessarily good ones in a row is shortly rising interest rate environment. yeah, it's very interesting that you mentioned that because if we look at what happened with silicon valley bank, it's founder actually no b for less regulation. for medium sized banks, which are donald trump did put through yes, absolutely. there were,

there was a lot of strong lobbying. if one looks back at it, it's not really that you're part of the volatility that we're getting. now in financial markets is also because the big banks also heavily regulated the so called, globally sense, the systems cement system systemically important banks as they're called and, and they don't make markets anymore in the way that they say did before, 2008. so we have much more of this lift shop type movements in financial markets, which do exaggerate the scale of people's fears. but because there isn't any one there to step into the breach and say, ok, you've done, you've gone too far. now i think i can take this risk on at this level, it doesn't have and so you increase the risk of these to lift shaft type movements in markets. and if we look again at credit suisse in particular, it has faced

a string of scandals and recently has hasn't had including money laundering charges . yes. and it's exposure to some of the worse things that we've seen in like our check us in recent years. yes, it's not being well managed. nevertheless. here i think there's 2 aspects to this. one with the swiss government ever, let's credit suisse go on that. you know, let's be honest with that same thing would apply to save deutscher bank, which is also come under the microscope. so and to it's actually been gradually restructuring itself. and as the chairman themselves observed, the other day, they have been actually saying, inflows, so you're to certain extent, this is markets and normal spirits i working at by worst robin b exuberant they are a russian really fearful, mr. oswald,

very good to get your expertise on this. we really appreciate your time. that is mark awesome. joining us live from london. thank you. thank you. moving on to other news now and to one of the strongest storms to hit the southern hemisphere. tropical cyclone, freddy has killed at least 225 people in malawi. it's displaced thousands, devastated parts of south east africa after making landfill twice. it has mostly subsided now, but aid workers say the situation on the ground is still dire. tens of thousands of people have been displaced by flooding and landslides farm. the miller reports from blan tire. there are many people in this area alone who are missing and i'm going to start by sipping out a shot to give you a better idea of what's going on. a just behind me, a group of men digging in what is at least 3 or 4 meters deep mud, full possibly parties. they just don't have any option. they say no help is come.

the worst of the psych loan and the flooding, mud slides heavy when all that took place on monday. and people have been missing for 3 days now. and the people here say it's been up to them to look for those who are missing. they haven't been any rescue teams in this area. they say for a short time on monday police work, but they couldn't get through the very deep mud where they are now. that was a village. they would thousands of homes now to the boulders, a mug, and only slightly higher on the high ground, just behind them. all homes that have survived at least to some extent, though that flooding and those mud slides. but all those homes of damaged people haven't been able to stay in their homes. you've seen people try and recover whatever they can. and at the same time looking for those who are missing, some people have relocated to

a school on higher ground. and this is the best they can do at this point, what it is, just the game of wait and see, especially as they wait for some sort of response from the government. and that's the biggest complaint, little has been done to assist them. the government has said, at least 550 people are missing across the region including was in beacon below we at least half a 1000000 people have been affected and the 10s of thousands displaced. this is really the difficulty that governments in this region are facing the ongoing rain here alone. it's rain for 6 days already. it's full cost that that will continue for at least another $10.00 days. and it seems, and the ability to access some of these areas in a lack of capacity when it comes to rescue effort. at least 13 people have been killed after flash floods hurt turkey as southeast and region heavy rain since tuesday night. and on date of the city is of shallow far an ottoman the flooding

happen is the region is trying to recover from last month. devastating earthquakes vessels held by reports. from istanbul. these men had the fortune desk police rescue workers as to williams had been helping to save doors surrounded by fellows in southern to 2 year. several people have died in many areas, the emergency services were overwhelmed. you see this area is completely submerged . all authorities couldn't set up pumps to discharge the water here. they were call stranded here, but they couldn't find pumps to discharge the water up. the flesh flows or heating areas or the struggling often last monster by stephen earthquakes. duck killed, more than 48000 people. families forced from their homes by the quakes are now being flooded out of their pants over but fell through. as you can see, we managed to relocate our tents and moved to the park. we managed to surround the

tents with stuff to stop. the water coming in the middle shall new for was how cold as he sort of be the done. many were already unhappy with the government's response to the crates of the yet another disaster. passions is run now. heavy rains since tuesday night. how brought flooding? not just a child offer, but also to other cities like of young authorities, how shut down hospitals and schools in some areas rescue work is underway. but there are fears that'll be rice christmas. elder al jazeera is stumble to pakistan. now we're a court ordered police to hold the arrest a former prime minister among con until thursday. there have been 10 scenes near cons, house between his supporters and officers who were trying to arrest him. he is facing dozens of charges including corruption, which he says are politically motivated. come on high. the has more from his lombard ron khan's party, had gone to court,

saying that heavy handed tactics were being used against the residence of m. ron fond read the support as a dad, dad, and a quarter. i started a heading into the origin partition that was filed by the bug it's on teddy can solve. i did an ordered that the police shirt knocked gary out any further operations on 15, g m, d on 3rd day. now also important to note that for the last 24 hours, the police and supporters of enron fawn have been scuffling, basically scuffling, broke out after the police tried to arrest them earlier yesterday by their supporter then responded to police. dear guy, thing would rock throwing and died, of course, exacerbated the situation, but political tensions are very high indeed. no one knows what is going to happen

within the next few days. and although the government is determined to address them, ron con, they have not been able to do shore, despite their best efforts, i haven't called in de paramilitary force in red. so indeed, high drama being played out, i in pakistan. and of course, as a result, there been protest in other parts of the country last night at red. still head on al jazeera. i report today on a british economy, which is proving the doubters wrong. the u. k. is new budget is unveiled. how would that help the most vulnerable will deal with the high cost of living? ah, ah, hello, we got some wet weather pushing into central parts of china over the next couple of

days and cooler at chuck mean by the north. we have had some filthy air, really poor air quality up around beijing. westy when spilling out longer area from the guy the desert. we will see this cold front sweep its way further. east was grassy sinks and wet weather coming back into basing. hopefully tends to wash out some of that so poor air quality in the process. is that where to where the coming into central parts of china, some wet weather, that seems to western areas of japan all moving further east was quiet and rain joining up there. some positive japan seeing some way, whether central areas of china seeing that, that rain continue, slipped further. south cool rad, talking back behind, said a few showers, just pushing up towards patching at this stage, scattering a showers across much of south east asia, heaviest of which will be in to indonesia. the philippines will see some heavy showers from time to time and not too much to concern ourselves with. that is the case to across a good part of indo china. but some wet weather into northern parts of cambodia.

where to where the spreading across a good part of india over the next few days. we do have orange warnings in force. the central and eastern parts as the re pushes all the way into under pradesh. ah well that i will say, you know as the ballade never lame a battle, no helen in math and not the nurse of what have you done i see within their business will be made with ah ah ah

ah, watching i'll just bear with me and isn't random and don't have a mind of our tough stores. the sour trading of us got off to a negative thoughts on the market. and following the us government's intervention of the collapse of 2 american banks, investors and now worried about credit suisse. it is felt 30 percent and early trading on wednesday. the rescue teams in malawi is searching for survival trouble cycle on friday, the storm brought heavy rain that triggered flood land flies. more than 200 people have been killed in thousands of place. and a quarter past phone has ordered police to delay the arrest upon mister mon. com to day they were 10 things. a compound between his supporters and officers trying to arrest him. he's facing dozens of charges including corruption,

a brave in violation of international law. that's how the u. s. is describing the collision between one of its spy, drones and a russian fighter jet over the black sea that caused the drone to crash. the pentagon says the font a jet had the drones propeller. it says the military had to crash the unmanned aircraft because of the damage. the u. s. insists the drawing was the international waters and posed no threat. the kremlin says relations with the u. s. o, in a lamentable face, their defense ministry denies that its jet jets rather came into contact with the aircraft. the incident is the 1st not direct encounter between the 2 military power since the ukraine war began. our white house correspondent kimberly hallett has more on the us reaction the, you know, spokesperson for the national security council, john kirby speaking to the american public, but also to the broader global audience. talking about what was conveyed by the

united states to the russian ambassador to the united states as he was summoned on tuesday. and it was a very, very strong message, essentially following that incident is the united states defended its mission to saying that there in us national security interest, interest that they are perfectly legal over international waters. and that they will continue doing so. and that russia needs to be more careful in the eyes of the united states with regard to the recovery of that m q 9 surveillance, strong. according to john kirby, it may never be recovered. that's because it's at the bottom of the black sea. and because of the japs, it's likely to not be retrieved, but i, in terms of how this is being received in the united states when it comes to president joe biden's opposition. republicans, well, some of them are not seeing this very well. in fact,

as the governor of florida republican rhonda santas is using this as an example, he says of why the united states should not be involved in what he sees is a regional dispute between ukraine and russia and is using this is an example of why the united states should get out and then disentangle itself. but there are others on capitol hill like senior republican senator lindsey graham that are saying, just the opposite. this is exactly what vladimir putin, watts and the fact that the united states should go even harder. the next time, something like this happens that the united states, you shoot a russian plane down, should this sort of collision type incident happen again. you earlier should pull the lola as a journalist based in moscow when she has more rushes reaction to the incident. last is not looking for confrontation with washington. those are the, was of the russian on the, to the us. but say,

he went home saying that russia considered the incident with american joy over the black, the appropriate cation, the ambassador, also the drain, flying and dislikes area, allegedly collect intelligence that key and then use. it was taught of russian military positions. there are also some important reports right now that the forces of the russian life, the, please for the my head searching for the right page of the read. but while the united states said that recall life will continue that, that haven't been much information on the russian drug defense on the she was in the telegraph tunnel, but the united re patrol lee with the trunk pulled his hand off and it did. 1 violate the boundaries of the area of the so called temporary s based climate stablish there. peter, russian, special and show creation in ukraine. and they also said that in order to identify the flying objects, to rush to find the trend of the defense port edge and plates crumble that

according to the defense ministry are the result of shot. when you bring up united you, i'd be, went into an uncontrolled flight. the local shoot and collided, the voice of the black sea somewhere over the crime in putting you that russian find it did not use own board weapon did not come into context. would be an aerial vehicle, the american, the all we can safely return to that home as case our, the fence editor alex could topple us, has more on the crash drone the am to 9 reaper is the world's 1st purpose built drone design for attack as well. as surveillance, it can stay up in the air for up to 14 hours and can fly up to 15000 meters. it was 1st floor in combat in 2007, and has the capability to stay and survey a specific target area, sending back vast amounts of information to pilots and analysts on the ground,

sometimes half way around the world. what made the repo initially different from other drones was the fact that it was the 1st one designed to carry weapons. it cannot only survey targets, but destroy them if needed. this combination of surveillance and strike capabilities makes the young man vehicle a potent weapon able to operate night or day has been you some breaking news now and israel's military says it's shot dead. a person described as a potential suicide bomber. israel says the victim had possible links to has bala and had crossed into the country from lebanon. the incident happened on monday, but it, sir, only now being made public. that's bringing a cost on it. a man con, he's joining us on the phone from occupied east jerusalem. what is the israeli army saying so far about the incident? im ron, where you summarize most of it? well they've done is they've issued a statement saying at the beginning of the week and explosive devices, makita junction, from which

a israeli citizen was seriously injured. the security forces were to locate the suspects. and it was during searches and roadblocks, the vehicle was stopped in the area of yada. now during the rest of the vehicle the what they call a non terrorist danger attention. but and these really mean who neutralized and that's the language and killed him. they found weapons and ready to use explosive belt and other items. now this is an incredibly serious incident. we rarely see people crossing from level on into northern israel. if that's indeed what happened, they still investigation going on. this was so serious that the prime minister, who would like to visit to berlin to back on friday he left today. he's actually coming back tomorrow. it's likely that he's going to talk about this some point tomorrow. be ready, go me square. blaming a has any political force is actually blaming,

has been the army is being slightly more careful. they're saying that there's a broad investigation where we're looking into has below the lebanese group. and now there's been no comment from below themselves. but this is now likely to right to top tensions within north of israel read, pending on how israel reacts it's going to be. it's a very serious security breach for them. questions are going to be honest as to how this man was able to cross how he's able to come either would, whether he had help and also the fact that they actually suppressed the news. it happened on monday when you just finding about it now finding out about it now shows you how seriously they were taking it. and it's likely that because the mind was still in northern israel that we didn't want didn't use to break well, so we're investigating. so it's a very serious incident, israel, but we have had no comment from his bill. it's lucky that they won't call him on a tool. already, people are now talking him with political circles on social media. and what type of

israelis response may will come in wrong. thank you very much for that. that is a mon com staying across that breaking news story for us in occupied east jerusalem . thank you. it's been 12 years since peaceful protest the god and syria, calling for the removal of president bashar effort. the the uprising turned into a civil war and then proxy war involving regional powers. hundreds of thousands of people have been killed, millions remain displays, but president asset is still in power. the was for the one of the walls, worst humanitarian catastrophes and decades. millions of people remain up rooted from their homes and living in rebel controlled parts of northwest syria. new record more spoke to some of those people. in edlin, syria has been devastated by conflict. millions have died or been displaced since

an uprising against the rule of bush began 12 years ago. despite their losses, people say they have not abandoned their cause. the enemy, oh, when i lost my house and my little sister in the bombardment of eastern or lateral, i also lost my leg and was hospitalized for weeks. we were simply asking for the basic human rights, but instead of listening to us, the syrian regime chose to wipe out the country when the un estimates more than 400000 people have been killed since the conflict ruptured with over 13000000 fling as refugees are becoming internally displaced, they say that despite their desperate situation, the remain hopeful for a brighter future for the next generation. i, jonathan, i love the people who prefer to live in these harsh conditions. rather than under our subs rule, we have the saying, we shall perish, but the syrian regime won't rule us. many still holds that the years of struggle

were necessary no matter the consequence of the gulf in hum. to believe that what a view does rebuilding against the state was in fact, unavoidable. given us our don't abuse of power and we can finish or be in the reaction, what going on that was actually stopping now is never an option. the uprising expose the true face of the international community as well as the true face of this regime. if you asked me if i would have chosen the path 12 years ago, i would have said absolutely yes, even though we lost so many companions along the way, their sacrifices will not go in vain. wilma, if we stop now, our children pay a far greater price of american it's only marginal in in spite of the absence of long term solutions and hum to aspire to a peaceful life for his children. there is, are honoring the walls on the verge of the uprising a day that i've gone through present hope and resilience for them. although knowing

that the road ahead would be longer difficult, they say that they will never give up on till they're fulfill their goal. no, much i just off a live the brit he government says it will provide struggling families with $115000000000.00 and cost of living support this year during his budget announcement, finance minister jeremy honda said inflation was at the root of recent strikes. he said inflation rates would fall from almost 11 percent on the 3 percent this year. hon told parliament the bush economy is now on the right track. the u. k. will not now enter a technical recession this. yeah, we will meet the prime ministers priorities to home inflation, reduce that and get the economy growing.