this is lou a week to look at the world's top business stores, from global markets and economies to construction and small businesses. to understand how it affects todd daily lives. counting the cost on al jazeera talk to al jazeera. we ask, who is really fighting? is russia, or is it wagner, or is it the russian or military? we listen, we started talking to me on my own, so that this is there. i, your citizen. you shocked. pick them back. we meet with global news makers and talk about the stories that matters on al jazeera. ah 11 us banks will step in to help struggling regional end of 1st republic,

a spot my rescue plan worth an estimated $30000000000.00. ah, i'm your entire, this is al jazeera life in london, also coming up protesting from self to unpopular pension reforms a force through without a parliamentary vote. morning and anger in malawi in the wake of cycling freddie. the government appeals for urgent international help and amendment to russian fighter jet intercepted a u. s. military drone with the black sea ah no sense of stability is returned to global markets of the days of turmoil. thanks to rescue plans offered to 2 banks, emergency funding provided to us lender 1st republic. so stocks and the day hire that was the dow and back closed the day positively. while

a $54000000000.00 lifeline to investment bank credit suisse ear concerns in european markets. this with central bank loan, which provided a liquidity back stop, is the 1st emergency help offered to a major global bank. since the 2008 financial crisis shares closed 19 percent higher, recovering most of wednesday's losses will, despite the uncertainty of the previous days, the european central bank on thursday raised interest rates by half a percentage point to 3 percent. part of his goal of fighting inflation potential now is focused on 1st republic in the u. s. it's a regional bank whose shares had fallen 70 percent in the past 9 trading sessions. 11 banks, including 4 major lenders, a part of a rescue plan was $30000000000.00. first republic shares coast about 10 percent higher on thursday, which is salumi has more for more st. j. p. morgan chase, bank of america and 9 other major financial institutions came to the rescue of the

california bank 1st republic on thursday, depositing some 30000000000 dollars into the bank to shore up its finances that sent it stocks and the banking sector in general. back into positive territory. the worry of course, after the failure of silicon valley bank in california was that other banks would follow suit. depositors were getting nervous. they might try to withdraw their money in banks without enough liquidity would fail. that was weighing down the markets in the banking sector, particularly 1st republic shares started the day on thursday down some 70 percent on this news though, they rebounded in close the day of 10 percent and still haven't made up all of the losses for the last week. but they're heading in positive direction. there was other positive news affecting the markets today. the deal to short credit suisse

also being factored into the the mood here on wall street. janet jaelyn, the treasury secretary of the united states, spoke before a senate finance committee, also reassuring the american public that their bank deposits we're safe and would be there when they need them. so at this stage, there is certainly more concern about the u. s. economy inflation, interest rates, whether or not the federal reserve will raise interest rates when it meets next week. but for now, at least this latest development, these latest development seems to be calming the markets, at least and reassuring investors that a bank in crisis has been averted. yes, bank sought to record amount of liquidity from the federal reserve following the failures of silicon valley bank and signature bank. the fed supplied nearly $12000000000.00 in loans, in a scheme that was unveiled on sunday. but the us treasury secretary has assured a senate committee that the country's banking system is sound. we worked with the

federal reserve and f d. i see to protect old depositors of the to failed banks. on monday morning, customers were able to access all of the money in their deposit accounts, so they could make payroll and pay the bills. shareholders and debt holders are not being protected by the government. importantly, no taxpayer money is being used or put it risk with this action. deposit protection is provided by the deposit insurance fund, which is funded by fees on banks. and in respect to chief economist at finance, watch t filipina. he says, the global financial system isn't resilient enough to withstand what he calls small problems at the moment. where to distinguish very clearly between the fire fighting the mission of central banks and the the

design function that policy makers have as fire fighters. central banks have no choice, but at the end of day to inject liquidity so that the entire system doesn't class. there is no doubt about that. once you said that, if you sit back, you need to build a system whereby everything will not collapse each time. there is a small problem because let's face it where there in the us, or in switzerland or where we are having small problems today and small problems trigger big consequences. and why is that? well, that's very simply because the whole system is not built in a resilience enough manner. and therefore, the only thing we're left with is moral hazard. where basically private, i mean, profits are privatized, and losses are socialized. and this is no way of constructing a resilient financial system. and more importantly,

if financial system that allocate capital to the banks at the right price, so that the good banks will be rewarded and the bad banks will not be rewarded. the current system we have is effectively a system where even the banks that are truly manage the banks that has a poor business, get away with it, ah french pennies at clearing demonstrators from clustered at concord in paris, where thousands were protesting against pension reform. tig ass was fired at about $7000.00 demonstrators. earlier, the french government forced controversial pension reforms through without a vote in parliament. after failing to convince a majority of m p 's to back the bill, the changes raised the retirement age from 62 to 64. president emanuel michael says

it's essential to cover pension deficits dash about reports from paris. linda didn't oh, it wasn't the outcome. the french government wanted, but without a parliamentary majority, it decided to force his pension reform bill through parliament by decree, a controversial move that infuriated some lawmakers and left the french prime minister struggling to be heard on the per pound. we can't risk seeing a 175 hours of parliamentary debate come to nothing. we can't risk seeing the compromise built by the 2 houses dismissed. we cannot risk the future of our pensions. this reform is necessary. the move comes off to more than 2 months of street protests and strikes against the reform led by frances trade unions who states and erosion. workers rights are also angry over plans to raise the retirement age by 2 years to 60, to demonstrate as he gathered outside the parliament, se they'll continue to fight. oh,

so pretty revolting is the fact that despite the fact that the government represents a tiny minority and doesn't even have a majority in the parliament, they order a constitutional tools that they can use. of course, it's through been completely on democratic matters, but that won't, or that won't her pender resolve to pursue the quite. that's why you're here today, and that's why the pride will continue to morrow. horsing. a bill for the parliament by decree is legal. under the french constitution, but it is a course of action seen by many a failure of politics, the king outside the national assembly, frances hard left leader. that the government didn't care about people who don't actually i find a significant n symbolic that's for a 100 times the government use a decree to bypass the will of the people. we must coordinate with the union and do all we can to have this law withdrawn. performing the pension system was one of president, tim. i knew mike ross campaign promises. he says, the system's outdated,

costly and unsustainable for future generations. in the end, he will have succeeded in changing it, but at a cost to his political reputation. natasha butler. i'm just sarah perry. feel the u. k. government and health care unions have come to a final pay offer which could end strikes affecting the national health service. they offer to you. news representing nurses and ambulance workers. includes additional pay for next year is worth a voice mixed reaction to the offer, which it does not cover. junior doctors who are also striking will always president has appealed for global support after a tropical cycle and hit the east of southern africa. countries commercial hub plants has seen the most damage with flooding and mud slides. at least 326 people have died and hundreds of missing from the miller reports from the anti as people try to recover from the impact of psychos friday,

they also have to bury the dead. and as the rain continues here in the village of tar chiera, the have to scoop water out of grave. but before laying the victims to waste more than 320 people have now been confirmed dead and thousands more. missing after the cyclone tore through southern africa for a 2nd time in weeks. outside malawi, commercial capital, blan tire people in this village have been cut off from their neighbors as roads and bridges lane ruin. president lazarus, chuck, where as appeal to international assistance. one is governments being criticized for not doing enough. the main challenge is not government failing to respond. it is the inaccessibility of some of these camps because bridges are been wash. ah, and roads have been caught. i, you know, so that people cannot travel to where they are. so there is help that is already on

hand. it cannot get to the people because of challenges of accessibility. in some parts, there's no electricity or running water. we have people who are, who have been rendered homeless. they don't have food, they don't up clothing. they don't darville what duckling water saw it. sit in a bad we, we, we, we don't even know what people are going to it for line to this year to day. all. if in supper we don't in all because it, ah, we have not yet received it. if i to him as we speak across the country, more than 88000 people have been displaced. with many sheltering and temporary camps. maureen is expected in the next few days, raising fears of flash floods and more destruction. lemetre mila alger 0 plant. i am allowing still to come this half hour. poland is pledge to ukraine for make. i suggest to be delivered in the coming days and bailing out businesses in flood

hickory. the clean up begins after days of rain. ah. with it star rating, almost everywhere in australia. now as the satellite pictures suggest is a bit of rain possibly touching the south of western australia where the temperatures are still on the high side, but not as high as sydney increasingly melbourne. we should not be seeing thirty's this time the year, but it's actually something of a heat is going on, which for sydney could be reco breaker. this time of the year, rain is on its way out of north fall in new zealand on saturday to start you off to quite a nice looking weekend. and rain has got another 6 weeks in the rainy season. i think in indonesia it's still concentrating in places like borneo or maybe java

north. that's largely dry. but this might look to you like out of season. right. it does look too heavy to me as well. but is there all the same, running out through china, into japan where on saturday want itself up enough to give sweat snow to mount fuji, or the other mountains in hong shoot, leaving behind sunshine with temperatures more or less where they should beat that temperatures have been on the high side on the western side of india, my roster for example north was but this also looks unusual. we should not be talking about widespread showers in india is talia. but we are including engine, i ah, the salience of the world's biggest gambler, losing him, the billions of dollars the year, one on 18th, investigate with friends, gambling addiction. one out of the year. we

understand the differences and similarities of cultures across the world said no matter what lucy al jazeera will bring you the news and current affairs that matter . to you, al jazeera, the ah, one of the top stories here, 011 us bank 7 out fell deposit. $30000000000.00 into struggling regional bank 1st republic and shares at foreign 70 percent in the past 9 trading sessions comes after 2 major us bank failures in the past week, including silicon valley bank. purchased broke out in paris after the french

government forced through controversial pension reforms without a vote in parliament came after the government failed to convince and majority of m . p. 's to back the bill changes raise the retirement age from 62 to 64 mill. always president has appealed for global support. after a tropical cycle and hit the east of south africa. the 326 people have died and hundreds of missing in malawi, after much slides and severe flooding tortures region. the us military has released video of an encounter between a russian fighter jet and a u. s. drone. the pentagon says the russian aircraft unsafely intercepted the reaper drone, which then crashed into the black sea. russia has denied accusations, had acted recklessly. the downing of the drone on tuesday was the 1st direct incident between the us and russia since the war and ukraine began last year, trying to report a 42 2nd video clip released by the pentagon shows of russian su 27 fight

a plane dumping what he said to be jet fuel into the path of a u. s. reaper surveillance drone high over the black sea. it makes a 2nd pass, repeating the process and then we're told the plain makes contact with the drones tail propeller. the video feed cuts out resuming 60 seconds later to reveal a damaged propeller blade. afterwards, the drones remote pilot spring it down in the waters of the black sea. the pentagon said it would not be deterred by what he said was a patent of risky behavior by russian pilots in international airspace. the united states will continue to fly and to operate wherever international law allows. and it is incumbent upon russia to operate as military aircraft in a safe and professional manner. russia's foreign minister said the us drone had not, in fact, been in international airspace. honey,

you can recall is to to touch the porcelain shell. they totally ignore the fact that after the start of the special military operation, military declared that certain areas of the black sea had limited access by any aerial vehicle. and this defiant neglect of that objective fact makes one think, the american side keeps looking for provocation to fuel confrontation. the ukrainian military has reported unusual levels of activity by russian ships in the black sea, a possible scramble to recover the wreckage. the south west of the crime in peninsula where we know this bern went down. that's more or less below a desa the ukrainian city. that was, you know, threats and it's not far from where the mosque of a russian more ship was sunk back in april. so i think there's a big concern in the u. s, and they will be able to continue to mount the surveillance operations without this kind of thing happen again. russia has denied any wrong doing and initially blamed the incident on a faulty maneuver by the reaper drone it's retrieval. could provide valuable

intelligence the aerial encounter was the 1st known military contact between the us and russia since the war in ukraine began. reinforcing widely held concerns that the 2 superpowers could eventually be drawn into direct conflict. jonah haul al jazeera patrick, i'll have no more from the pentagon. we saw yesterday that the top bosses, they were very careful in their language, trying to make sure that the didn't escalate. the situation didn't demand an apology, but then they released the video very, very early here stateside. so the question was, were they going to opposite rhetoric try to increase the tension between the us and russia, which some would say this video could possibly do. so. as a pentagon brigadier general pat rider, the pentagon spokesman was asked about it. and basically why released the video, and here's what he had say. not unusual for us to release imagery of unsafe,

unprofessional incidents. we've done that in other situations. and so, particularly in this case, given the reckless and dangerous behavior and to demonstrate publicly what type of actions the russians had taken, we felt that it was important to provide this imagery before. the briefing. we also heard from the national security council spokesman john kirby, and he said that the purpose of this was to just show that the russians were and his words, their line about what happened. cuz remember russia said that it didn't really have any impact with the drones that the drone, the reaper made maneuvers and then crashed into the sea. so what now will russia made it very clear? there were to try to recover this drone general writer said several times that this is american property. and that they're not that worried about. you said, 1st of all, it's been really deep water doesn't think the russians are going to be able to get down to it. the other thing that he pointed out is said we took steps to make sure that there was little value in anything they did recover. so their reports that they basically wiped the servers on their end queue reaper before it hit the water

. but we'll see as it plays out, because this might not be over. we heard russia say the aircraft cannot go and what they call, their exclusion zones. and we heard from the department of defense, the secretary of defense himself, the v u. s. is going to continue to fly and what they see as international waters. so the 1st direct contact between russia and the u. s. over the war in ukraine. but potentially delta left. poland has become the 1st of ukraine's allies to commit to sending fighter jets. the polish president and re duda says also will deliver for make 29 jets in full working order. in the coming days with more to come, once they're checked. ukraine has been asking the west for jets for months to help its defensive efforts. stephanie deca had more from keith ukraine's really been asking for jack since the beginning of the war. it's significant, of course, it is the 1st time and need to ally ukrainian allies says that it is going to send

for make 20 nines. there will be more in the next coming days. it's something that the allies have been discussing is something that keeps been asking for for a very long time. it is certainly a step up in the commitment of its allies when it comes to providing weaponry. it's also i've seen the arrival of some of the leper tanks and from poland as well as 9 other countries pick. you also mentioned by the us secretary of defense yesterday, secretary of state lloyd austin saying 9 countries committing to sending around a $150.00 leper tanks to ukraine and they will be arriving before the end of march . the timing of all of this is very interesting, of course, because there's a lot of talk that ukraine is planning a counter offensive. as the weather is getting warmer as the ground is thawing. certainly this is a welcome move from poland. it will be welcomed here in kids. and again, a lot of the allies thing that they're discussing ramping up even further support. a spokesman for the libyan ward, hurley for have to says more than 2 tons of uranium that had been reported missing

by the un nuclear watchdog has been found. the 10 drums of radioactive material would okay to near the border with chad. after spokes me said, whoever sees the barrels like he thought they contained weapons or ammunition. uranium was reported missing on tuesday when the international atomic energy agency inspected an unnamed site in libya. a call to pakistan has rejected for the premieres to him run cons plea to suspend an arrest warrant issued against him. as just as archer, a higher court ordered police to postpone the operation to arrest him until friday . con is accused of repeatedly failing to appear in court for hearing that been 2 days of 10th stand off in the hall between security forces and can't supporters. he tried to stop police from taking him into custody. we can go out there earlier in ron con confirmed he will appear in court on saturday. i had bill right up to the 18th when my go to paris was going to take place. the police turned up for this

earlier, so it was unlawful. i was already had protective bill and it, when i, when there's this massive force. i mean it's never happened before, and i, history, thousands of policemen and rangers. try to attack my house and arrest me. so when they came with this force, i'd then give my lawyer gave them an assurity that i would attend the court. so the whole idea of police was supposedly to take me to court, which was on the 18th. so i give them an assurity, and the law says that once i would have given them a surety, the police shouldn't recipe. but despite that, the force kept increasing and the, the violence, i mean, the tear gassing and water cannons and they shot belts are, are, are, are, are our workers. and then they were bullets fired. so it's never happened in

pakistan before. a funeral has been held for, for palestinians killed during an israeli rage in the occupied west bank. one of those killed was a 16 year old child. 2 others have been identified as leaders of a palestinian group known as the janine battalion and undercover unit of the israeli forces carried out the operation in a busy shopping area on thursday. purchases across israel have once again taken to the streets to denounce the government's judicial reforms. it comes after prime minister benjamin netanyahu rejected a compromised proposal, but forward by israel's president, isaac had sold unveiled alternative changes to the plan on wednesday. in yahoo says had talked plan fails to address what he says are imbalances in the legal system. the bill will limit the role of the supreme court and give more power to the government. critic say its anti democratic cleanup operation is underway in parts of peru that have been devastated by cycling yahoo landslides of buried homes and

mud, leaving thousands of people homeless. at least 6 people have died in the past several days because of the torrential rains. brianna sanchez has more from the sienna gear region near the capital lima. we are in a, in a, in a ravine called louis your circle air, which translates to dry river. but that's exactly the opposite. what happened here? where tons of mud and debris. oh oh, tore through this community twice yesterday and the day before yesterday and it's it. forty's, half confirmed already that there was one person it killed. and there another person has disappeared and it's, it's quite a miracle i have to say because the devastation that we have seen here are all the way up the hill. there are, are hundreds of homes that are totally flattened. are very poor people live here in their homes. most of them the ones that have been most destroyed are bird homes

made of cardboard, and wooed and tin. and so these are homes that have been completely taken by the rivers of mud. riots are broken out in cynic, holes, capital deka off. tell physician, it was man sancho appeared in court. the trial was agend, but protests continued. nicholas hoc reports from deco anger in senegal, capital, one night supporters of opposition leaders munson could have been fighting with security forces. schools and shops are shut as violence and looting spread from one neighborhood to another. the accused president mikey sell of using the justice system to eliminate political opponents and cling on to power. members, i live alone in new orleans. then i got re elected mucky cell to work nuts twist, i wish a dictatorship. he must leave sancho alone. if he does not, we will burn the country into like a girl. and in this heavily guarded vehicle is sancho on his way to

a trial that could end his political aspirations. he's charged with slander. after he accused a state minister of corruption, if convicted, he cannot contest the 2024 presidential elections. as crowds gathered security forces for sancho out of his vehicle. he says he was injured in the scuffle. the judge, hearing his case, has adjourned the proceedings because of suncoast injury. but the fighting on the streets continues. moments ago, demonstrators stormed this supermarket in an upscale neighborhood. they try to take drinking water, rice, vegetable or so much of these riots are driven by people who feel left out by the government. despite a booming economy, inequality is growing. what's going on in senegal is goes beyond. swanson co mackie sat me have been on her own, a cost in tom's off polarization,

in terms of exclusion, in terms of the less threatening and closing of civic face. record cases is rising political tensions in deepening a sense of injustice among those feeling alienated by the state, but wanted to get their voices heard. nicholas hawk al jazeera de cart. the number of people who died in a coal mine explosion in columbia has risen to at least 21 blast happened late on tuesday in a rural area of sue to tarza. about 75 kilometers north of bulletin. authorities said was caused by accumulated gas explosion affected several connected mines, serious accident a common at open pit and subterranean coal and gold mines in columbia. tens of thousands of farmers in india had been marching to mom by to protest against a huge drop in onion prices. ah,

they're demanding government compensation for their losses in onion crops. the 200 kilometer war began in the city of nursing. in my roster state. the government blames a surplus in production for the fall in value. india is the world's biggest exporter of onions. chinese owned app, tick tock has been blake banned from government phones in the u. k. with immediate effect over security concerns. cabinet. office minister oliver darden said the move was good cyber hygiene, amend risks to sensitive government data. you'd say prime minister richie snack has been under pressure from senior m. p 's to band the up following similar moves by the u. s. and e u. tick tock said the decision was made based on fundamental misconceptions and driven by wider geo politics. quick run didn't catch up any time on our website. it was that is our 0 dot com ah.