this is bbc news broadcasting in the uk and around the globe. our top stories... european markets rally after the swiss national bank bails out credit suisse to save it from collapse. uk chancellor, jeremy hunt, insists his budget will get people back to work — and won'tjust benefit the rich saving for retirement. the leaders of south korea and japan meet for the first time in 12 years, seeking to set aside historic differences. check before you travel — rail workers in the rmt union strike again over pay, jobs and working conditions. a plan to build the world's first octopus farm in spain's canary islands raises concerns among scientists over the welfare of the famously intelligent creatures.

hello and welcome to bbc news. banks and governments around the world are nervously watching the european markets to see if the crisis surrounding credit suisse will develop into a global banking crisis. so far things seem reasonably calm with shares in credit suisse rising almost 30% after the swiss national bank gave it a lifeline. but there are concerns that a potential interest rate rise later on thursday by the european central bank could add further volatility to the situation. earlier our business presenter sally bundock explained why the situation at credit suisse was notjust important to the financial community but to all of us: a real worry about credit suisse. if that bank, which is 160 odd years old in switzerland, were to fail, it could have the same effect

that the lehman brothers collapse had in 2008, which is it brings a huge amount of fear within markets about the stability of other banks. so people therefore act very quickly and remove their funds from banks, and therefore that then causes banks to fail, whether they were in a risky place or not, because everybody�*s drawing their money from them. it has a domino effect. and that causes a financial crisis, which right now everyone�*s at pains to say those who are in authority, whether they be in central banking, government or ceos of banks, are saying we're not at risk. it's not 2008. again, this is a whole different scenario. silicon valley bank was a very different bank to your regular high street banks. it specifically loaned to start ups, small technology companies and smes, and it was very, very exposed to assets that had gone up so much because of interest rates climbing in such a short period of time. so it was finding it very hard to service its loans. so that was a very specific case, not endemic

across the banking sector. and that's the message they keep trying to get out there so that people don't act in a kneejerk way. i've been speaking to mike ingram, a senior market strategist, for the financial services firm, activtrades. he explained how this wasn't unexpected and the bank had some problems. credit suisse has a very poor track record in recent years of risk management, embroiled in some scandals a couple of years ago where it was clear they did not know what their own client was doing. similar kind of situation with a big hedge fund client, led to a whole bunch of resignation and promises of restructuring and ultimately what credit suisse is currently trying to do is spin off its investment bank. in december last year, it raised about $4 million in capital,

but clearly the problems don't end there. we now have a situation where the sec has been clearing their accounts and the largest single shareholder says enough is enough, we're not shipping any more cash so there are specific problems that credit suisse. alluded to in an earlier report, rising interest rates actually are unhelpful for a whole range of businesses, including banks, and it does tend to expose weaknesses in business models. what knock—on effect, if any, is there for the problems that credit suisse is having, for the likes of you and me? one thing that could happen, for a start, you could see banks trying to raise more capital, they may try to push up interest rates, the rates they are actually lending out, in order to try and increase their profitability, although it gets to a point where that starts to rebound,

because people cannot service their loans and they go bad and the bank is still holding the baby, as it were. so, i would say we are not in a situation that we were, i think in the great financial crisis some 15 years ago, banks are generally in a better shape, holding more capital, holding more illiquid assets, are more tightly regulated than some of the issues that have come to light... probably would not have been picked up at all 15 years ago, but as i said earlier, we do have increasing headwinds, higher interest rates, slowing economy and how banks react to that at the waterfront, in terms of how they are lending out to businesses, critically smaller businesses, may be high—risk, i think that's where we are likely see the impact to the average person. as you say, we are not in the same position we were the same time as the last financial crash in 2008 but this is the first major bank

to need a lifeline since that time. last week we had two banks in the us go under, so what is going on? what is your forecast going forward, not just for the banking sector but for all of us? by my reckoning it is the fourth bank in the headlines for the wrong reasons in the last two weeks. we are coming out of more than a decade of zero interest rates, banks being active in buying up risky assets, as your reporter said a bit earlier, we have seen an increase in asset prices. it is quite easy to make headway as a business under those sort of loose financial conditions. all of that has been changing over the last year or so. central banks have effectively been caught out. they have been forced to raise interest rates very aggressively, and one of the reasons why markets are so unnerved at the moment is we have federal reserve chairman powell

last week sounding very hawkish as though they will raise rates for higher—than—expected. under those conditions, under those stress conditions, a lot of businesses which previously looked healthy start to fail. financial crisis are not caused by risky assets, they are caused by risky assets we thought were safe. that sudden change in perception can be very difficult, particularly in the banking sector which ultimately relies on confidence and trust. thank you very much for your analysis. the uk's chancellor, or finance minister, jeremy hunt, insists his budget will get people back to work and won'tjust benefit the rich saving for retirement. his comments come after the opposition labour party criticised his plans to get rid of a cap on the amount people can save for their pension, before paying extra tax.

the chancellor also unveiled plans to expand free childcare in england. our business correspondent, emma simpson, reports. ok, on your marks, get set, go! at this nursery in southeast london, working parents like charlie love the idea of 30 hours of free childcare for those nine months and over in england. her daughter dorothy will hopefully qualify. 0n the top line, ecstatic. i've just gone back to work after having my second child, so it's really demoralising that the majority, well, not even the majority, my whole salary goes on childcare. good news, it's a good news day for childcare. and i think it's reassuring that it's now on the agenda and top of the agenda. a shame it's taken so long. if you had more free childcare, then you would work a bit more? yeah, yeah, for sure. i think i like the balance. this is amazing.

june is in charge of this nursery and 39 others across london. she's skeptical the government plans can work. they're saying that childcare wants to be the best, they want to be the best, they want to do the best for parents. then they need to fund it and they need to put their hands into their pockets a little bit more deeply than 204 million. you're not sure the sums add up yet? they don't add up. this has been dubbed the back to work budget with a whole range of measures to tempt parents, the over fifties, retirees and those on disability benefits into employment. and that includes abolishing the lifetime allowance for pensions, the amount that workers can accumulate before they pay extra tax. 0n the cost of living, the government's going to continue to cap typical household energy bills at £2,500 until the end ofjune. fuel duty for motorists is frozen for another year. for business, corporation tax is going to increase from 19 to 25%. but firms will also get £9 billion of tax relief if they invest in new machinery and technology. in the pandemic, we spent about £400 billion to protect businesses and families. with the energy crisis, this year and last year,

we are spending over £3000 per household on average to help people with high energy prices and other cost of living pressures. yes, those all have to be paid for. i think it's the right thing to do to get through these difficult periods but we have to be honest with people. it means that for a while, the burden of tax is going be higher. labour has attacked pension changes in the budget as a £4 billion tax giveaway for the wealthiest and there was little to solve the uk's problems. we know there is a problem around doctors so let's fix the problem for doctors. this £1 billion or more giveaway is the wrong priority when ordinary people are facing a cost of living crisis. that's why we are going to force

a vote on this in the house of commons on tuesday, and encourage conservative mps to vote for their constituents. here's the reality for households from the government's official forecaster. this graph shows post—inflation disposable income. it was already predicted to fall sharply over two years. whilst it now falls less than predicted back in november, we're still facing an historic drop in living standards. what we've thought for a long time is the economy is going to bump along the bottom, to use a phrase, at about zero for most of this year. that's broadly what the 0br are saying. the important point to bear in mind as a result of that is that a very large fraction of households will suffer a material deterioration in their standard of living this year. the chancellor says the budget is a comprehensive plan for growth, but he has many challenges ahead. emma simpson, bbc news. all the reaction from westminster now. 0ur chief political correspondent, nick eardley sent us this update.

it is interesting because if you listen to the chancellorjeremy hunt on his morning round of interviews, he is pretty optimistic, happy that inflation is going down, that there is going to be growth in the economy, even if it is a bit sluggish, and he's confident that his growth plan is going down well. and i think it is fair to say some of the headline announcements on things like the energy price gap in the uk and the expansion of childcare in england, they have gone down pretty well, although certainly on the latter there are questions about specifics. but what is really interesting is if you delve into the numbers from the number of crunchers in the office for budget responsibility, they are a lot bleaker, and actually what they show is people in the uk are going to be paying a lot more tax over the next few years, the fact that the point at which you pay different income tax and national insurance taxes has been frozen means people will be

paying more over the next few years. it's the equivalent to putting 4p on the basic rate of income tax. there is that, the increased tax burden and the fact that living standards are not improving at all. the household real terms income, expendable income, is going down, 6% over a couple of years, which is a record amount. there is optimism in government and a pretty rosy picture being painted by ministers, not certain that would be felt by all households and i think for a lot of people some of the rhetoric of this budget may feel that it is not being replicated in their lives. if you're in the uk, we'll be answering your questions on the budget. at 3.30 today, we'll be joined by kevin peachey, our cost of living correspondent and shannon pite from the early years alliance, which represents childcare providers in england. do get in touch — using the hashtag bbcyourquestions —

or email yourquestions@bbc.co.uk let's go live to athens where huge protests are taking place following the head—on collision of a passenger train with more than 350 people on board with a freight train a few weeks ago where more than 50 people died. these protests are now as a result of that, with flights to and from greece grounded today —— right, and greek workers walked out of ports in protest over the train crash which killed 50 people last month. it has been called by the largest public and private sector unions, the latest in a series of protest since the crash a few weeks ago. public services in state schools are also closed during this 24—hour strike. schools are also closed during this 2a—hourstrike. urban schools are also closed during this 24—hour strike. urban transport disrupted comedy taxi drivers and metro staff also joining the action

and rail workers have staged rolling strikes since that crash. protesters have accused the conservative government and the country's political system of turning a blind eye to repeated calls by unions over deficient safety measures in the railway system. and demonstrated in the capital today. though strikes having a huge knock—on for transport into and out of the country as well. european markets rally after the swiss national bank bails out credit suisse to save it from collapse. uk chancellor, jeremy hunt, insists his budget will get people back to work and won'tjust benefit the rich saving for retirement. the leaders of south korea and japan meet for the first time in twelve years, seeking to set aside historic differences.

the leaders of south korea and japan are holding their first years, as they seek to set aside historic animosities. the talks will likely focus on regional security and north korea. it come hours after the north koreans launched an intercontinental ballistic missile it landed outside japan's territorial waters. these pictures from the japanese ministry of defence show the likely tailfrom that missile. joining me live in seoul is our correspondent jean mackenzie. also, i'm joined by shaimaa khalil, our tokyo correspondent. welcome. take us through what the south koreans are hoping for from this i think this missile this morning from north korea reminded south korea exactly why it has been wanting increasingly to cooperate with japan on its security.- with japan on its security. north korea has _ with japan on its security. north korea has now— with japan on its security. north korea has now launched - with japan on its security. north korea has now launched four- with japan on its security. iiif7"ii�*u korea has now launched four missiles any week, each more aggressive than

the last. the missile we saw that it was in an intercontinental ballistic missile, capable of reaching all the way to the us mainland. north korea is showing the korea and japan that it is becoming more of a threat, continuing with its nuclear programme, its weapons are becoming more sophisticated and more dangerous and south korea and japan are seeing the benefits that they can have if they start to share their intelligence and their militaries work together on this, and we have just heard from the press conference that the two sides have agreed to restart the security talks shortly. this is hugely significant, and it is what the united states has been pushing for for a long time, so they will be very welcome at this news. but this is about more than just military security for south korea, it's also about economic security. south korea wanted to shore up some of those vital supply chains that means it can remain one of the leading producers of semiconductors, and

when relations were particularly several between japan when relations were particularly several betweenjapan and south korea back in 2019, japan sought export reductions in some of the chemical south korea needs to build it semiconductors. we knew from the south koreans are going into this meeting that this was the key priority for them today. this was the concrete thing that they want it sorted, we have heard thatjapan has agreed to lift these restrictions on south korea, on these chemicals coming into south korea, and as a result, south korea has agreed to withdraw the complaint it had been to the world trade organization. this is a small amount of progress and hopefully there will be more to come, the summit was really about the two sides trying to re—establish some of the trust that has been broken over the years. another thing we heard the leaders say was that they have agreed to meet more frequently in each other�*s countries, so resuming the diplomacy we would expect to see from two countries who are neighbours and who have so much in common. the countries who are neighbours and who have so much in common.— have so much in common. the two countries. — have so much in common. the two countries. as _ have so much in common. the two countries. as we — have so much in common. the two countries, as we have _ have so much in common. the two countries, as we have been - have so much in common. the two i countries, as we have been hearing, have shared a fraught past, now very

much trying to focus on the future, though. much trying to focus on the future, thou . h. ., �* , much trying to focus on the future, thou~h. . �*, ., ., though. that's right, and there are many developments _ though. that's right, and there are many developments that _ though. that's right, and there are many developments that are - many developments that are happening, and these announcements about the _ happening, and these announcements about the lifting of restrictions, for example, but south korea dropping _ for example, but south korea dropping its complaint to the wto, the two _ dropping its complaint to the wto, the two leaders essentially saying they are _ the two leaders essentially saying they are resuming security talks and normalising relations, diplomacy and communication on all levels. the biggest _ communication on all levels. the biggest development is that this is actually— biggest development is that this is actually happening, the optics of the two — actually happening, the optics of the two leaders shaking hands. we were just _ the two leaders shaking hands. we were just outside the prime minister's office when the motorcade of the _ minister's office when the motorcade of the south korean leader came in. them _ of the south korean leader came in. them standing next to each other any 'oint them standing next to each other any joint press _ them standing next to each other any joint press conference just earlier, expressing — joint press conference just earlier, expressing their happiness that they are resuming these relationships, but also _ are resuming these relationships, but also essentially a united front against _ but also essentially a united front against what the prime minister of japan _ against what the prime minister of japan described as a dire security landscape — japan described as a dire security landscape here in the region. and

president — landscape here in the region. and president yoon suk yeol spoke of north— president yoon suk yeol spoke of north korea and said this is not 'ust north korea and said this is not just a _ north korea and said this is not just a threat to asia, this is a threat — just a threat to asia, this is a threat to— just a threat to asia, this is a threat to the international and global— threat to the international and global community. the united states, japan and _ global community. the united states, japan and south korea are going to be vital— japan and south korea are going to be vital in — japan and south korea are going to be vital in dealing with this. this is really— be vital in dealing with this. this is really the crux of it, they are announcing _ is really the crux of it, they are announcing in the summer a reset of relationships, of the relationship after— relationships, of the relationship after south korea last week announced it is going to foot the bill, announced it is going to foot the bill. it— announced it is going to foot the bill, if well, they are going to pay victims _ bill, if well, they are going to pay victims of— bill, if well, they are going to pay victims of the forced labour during japan's _ victims of the forced labour during japan's wartime. this is a controversial decision that angered many— controversial decision that angered many in _ controversial decision that angered many in south korea, but here in japan _ many in south korea, but here in japan it— many in south korea, but here in japan it was— many in south korea, but here in japan it was hailed by the leadership and in the united states president _ leadership and in the united states president biden said it was ground—breaking development. these two countries have a very fraught past. _ two countries have a very fraught past. it— two countries have a very fraught past, it runs deep and it is long—standing, but i think they also realise _ long—standing, but i think they also realise strategically they have common threats, the nuclear programme of north korea, china, is expansion— programme of north korea, china, is expansion and its military ambitions

in the _ expansion and its military ambitions in the region. all of these things bring _ in the region. all of these things bring them together and, of course, trade _ bring them together and, of course, trade relations and economy that jean referred to. they know it's very— jean referred to. they know it's very important to put the past aside and to— very important to put the past aside and to work— very important to put the past aside and to work together to face the threats— and to work together to face the threats that they are both facing in the present. threats that they are both facing in the present-— bringing us that update. i want to bringing us that update. i want to bring you some breaking news coming into us. the united states has released pictures of what it claims is the incident between a us drone and a russianjet. in is the incident between a us drone and a russian jet. in these is the incident between a us drone and a russianjet. in these pictures you can see what is claimed to be the russian jet approaching the drone, the russianjet then begins to release fuel as it passes, it then flies over the top of the drone, which stops the video recording. the russianjet then repeats this pass over the drone. these pictures are just into us from

the us air force. let'sjust these pictures are just into us from the us air force. let's just repeat this. these are pictures the us have just released of what it claims is this incident between a us drone and a russianjet this this incident between a us drone and a russian jet this week, and this incident between a us drone and a russianjet this week, and in this incident between a us drone and a russian jet this week, and in the pictures you can see what is claimed to be the russianjet pictures you can see what is claimed to be the russian jet approaching the drone. no doubt what analysis to come on that. plans for the world's first octopus farm in spain have been leaked to the campaign organisation eurogroup for animals and seen by the bbc. scientists have told the bbc that the proposed way of slaughtering the octopuses in icy water is 'inhumane'. the 22—page document was submitted by spanish multinational nueva pescanova to the general directorate of fishing of the government of the canary islands as part of its planning application. it reveals the octopuses will be killed by being put in large tanks of water kept at —3 degrees. with me is the bbc�*s environment & rural affairs correspondent claire marshall. also i'm joined by marine biologist, stacey tonkin. welcome. please explain more about

the story any specific plans. ads, the story any specific plans. slight correction, the water that has been proposed to kill them is actually at minus three degrees, so icy and a method used, kind of used all over the but increasingly being seen as not good for welfare, so you've got various organisations including the world 0rganisation you've got various organisations including the world organisation for animal health, who does not recommend it as a method of killing. you also have supermarkets like tesco and morrisons moving away from accepting fish that are killed in this way. that is the method of slaughter that has been revealed in these documents, if this octopus farm goes ahead. the wider context is that 0ctopus are eating all over the world, many people love eating them... but people are starting to understand how intelligent they are! what these documents do reveal is that there are certain issues and these animals are solitary by nature

in the wild, and in this form, if the permission is given, they will be kept in communal tanks, rent a thousand of them, it looks like. they will also be kept for periods of under 24—hour a day light, and these animals enjoy being in the shadows in the wild. you have the issue of slaughter, the communal tanks and light. also concerns about the waste they produce. i have spoken to the spanish company and they do say the welfare of the animals will be at the heart of what they do, and they also say there is an issue of the amount of stocks that are being caught in the wild, more and more people wanting to eat octopus, that this will help to relieve the pressure on wild populations, although i have to say, a lot of conservationists say the way for farming, the way of intensely flavoured farming won't actually help that pressure, or create a new market and make the me

cheaper to buy. so they don't believe that argument, but certainly the spanish company believes it can really help. to the spanish company believes it can reall hel. ., ,, , ., ., really help. to stacey, a marine biologist- _ really help. to stacey, a marine biologist. tells _ really help. to stacey, a marine biologist. tells more _ really help. to stacey, a marine biologist. tells more about - biologist. tells more about octopuses and how they react in these conditions?— octopuses and how they react in these conditions? yes, so i have worked at _ these conditions? yes, so i have worked at a _ these conditions? yes, so i have worked at a public _ these conditions? yes, so i have worked at a public aquarium - worked at a public aquarium previously where i have cared for giant _ previously where i have cared for giant pacific octopus is, if you individual— giant pacific octopus is, if you individual ones, and i want to bring my perspective of what i have learnt of their— my perspective of what i have learnt of their intelligence and even different personalities of the individuals, to show exactly how clever— individuals, to show exactly how clever they are, really. individuals, to show exactly how cleverthey are, really. so individuals, to show exactly how clever they are, really. so they are naturally _ clever they are, really. so they are naturally solitary, they do live by themselves, and i believe the octopus— themselves, and i believe the octopus species, the common octopus which _ octopus species, the common octopus which might— octopus species, the common octopus which might be in the farm does also live solitary. — which might be in the farm does also live solitary. they are normally kept _ live solitary. they are normally kept separately.— live solitary. they are normally kept separately. yeah, so if you have seen _ kept separately. yeah, so if you have seen the _ kept separately. yeah, so if you have seen the film _ kept separately. yeah, so if you have seen the film my - kept separately. yeah, so if you have seen the film my octopusl have seen the film my octopus teacher, which i have, you will have

more of a picture of how they behave and react and certainly how clever they are. they are animals, aren't they? they are. they are animals, aren't the ? , ., , they are. they are animals, aren't the ? , . , ., ., , they? they are. they do have very secific they? they are. they do have very specific needs _ they? they are. they do have very specific needs to _ they? they are. they do have very specific needs to feel _ they? they are. they do have very| specific needs to feel comfortable. they are different to other fish in that respect as well.— they are different to other fish in that respect as well. what kind of rotection that respect as well. what kind of protection do _ that respect as well. what kind of protection do octopus _ that respect as well. what kind of protection do octopus have - that respect as well. what kind of protection do octopus have under| that respect as well. what kind of i protection do octopus have under eu law? , ., �* ., ., ., ., protection do octopus have under eu law? , ., �* . . . . . law? they don't have a great deal at all because — law? they don't have a great deal at all because they _ law? they don't have a great deal at all because they have _ law? they don't have a great deal at all because they have not _ law? they don't have a great deal at all because they have not been - all because they have not been intensively farmed before, but i wanted to ask stacey, if i could, when i met her i loved hearing about the character of the octopus she particularly looked after and how when you put your fingers in the water, it would come up and find you and that kind of thing, people might find that interesting. yes. and that kind of thing, people might find that interesting.— find that interesting. yes, one of the really special _ find that interesting. yes, one of the really special things - find that interesting. yes, one of the really special things about i the really special things about looking — the really special things about looking after them was that they do create _ looking after them was that they do create a _ looking after them was that they do create a bond. as people have seen in my— create a bond. as people have seen in my octopus teacher, that was in the wild. _ in my octopus teacher, that was in the wild, but also in the aquarium, the wild, but also in the aquarium, the keepers— the wild, but also in the aquarium, the keepers create a really strong bond _ the keepers create a really strong

bond it _ the keepers create a really strong bond. it helps to build trust, and it also— bond. it helps to build trust, and it also helps the keepers to look after _ it also helps the keepers to look after them better, because they can understand their usual behaviour, and encourage the octopus to come up to the _ and encourage the octopus to come up to the top— and encourage the octopus to come up to the top so— and encourage the octopus to come up to the top so you can give them health— to the top so you can give them health checks, check them all over, but you _ health checks, check them all over, but you are — health checks, check them all over, but you are then able to interact with them — but you are then able to interact with them and the previous octopus i spoke _ with them and the previous octopus i spoke with. — with them and the previous octopus i spoke with, dj, a cheeky octopus who came _ spoke with, dj, a cheeky octopus who came up— spoke with, dj, a cheeky octopus who came up to _ spoke with, dj, a cheeky octopus who came up to the job voluntarily, to the top _ came up to the job voluntarily, to the top of— came up to the job voluntarily, to the top of the tank so he could come up the top of the tank so he could come up in _ the top of the tank so he could come up in sears. — the top of the tank so he could come up in sears, he would hold our arms with his _ up in sears, he would hold our arms with his arms— up in sears, he would hold our arms with his arms as well, so each individual— with his arms as well, so each individual soccer can taste and smell. — individual soccer can taste and smell. so _ individual soccer can taste and smell, so they could recognise us by our arms— smell, so they could recognise us by our arms and — smell, so they could recognise us by our arms and knowing who we were. i do believe _ our arms and knowing who we were. i do believe that they interact differently between the keepers as well, differently between the keepers as well. so _ differently between the keepers as well, so one person would have a different — well, so one person would have a different sort of bond with dj than another. — different sort of bond with dj than another. he would sit at the top for at least _ another. he would sit at the top for at least half an hour, we would also -ive at least half an hour, we would also give him _ at least half an hour, we would also give him different toys, for example do- give him different toys, for example dog toys _ give him different toys, for example dog toys that are safe to use, where you would _ dog toys that are safe to use, where you would put food inside the toys, and he _

you would put food inside the toys, and he would have to work out how to -et and he would have to work out how to get the _ and he would have to work out how to get the food _ and he would have to work out how to get the food out. and it is a form of mental— get the food out. and it is a form of mental enrichment, because they are so— of mental enrichment, because they are so intelligent, they do need to be are so intelligent, they do need to he kept _ are so intelligent, they do need to be kept stimulated, their minds, so it is a _ be kept stimulated, their minds, so it is a really— be kept stimulated, their minds, so it is a really good way of practising some natural behaviours they would do, so they would normally _ they would do, so they would normally hunt by putting their arms in crevices— normally hunt by putting their arms in crevices and pulling different things— in crevices and pulling different things out, but also opening shells to get— things out, but also opening shells to get the — things out, but also opening shells to get the meat out, so using jars that they— to get the meat out, so using jars that they can twist open, using puzzles — that they can twist open, using puzzles where they have to put their arm in _ puzzles where they have to put their arm in and _ puzzles where they have to put their arm in and find the way through to -et arm in and find the way through to get to— arm in and find the way through to get to the — arm in and find the way through to get to the food was really good to help them, keep enrichment and keep them stimulated. we used to do that a lot with _ them stimulated. we used to do that a lot with all octopus kept there, they all— a lot with all octopus kept there, they all have an enrichment programme. they all have an enrichment programme-— they all have an enrichment rouramme. . , , ., programme. really interesting to hear more about _ programme. really interesting to hear more about how _ programme. really interesting to hear more about how octopus - programme. really interesting to i hear more about how octopus work. let's get some of the day's other news... rescuers in colombia are scrambling to find ten miners who became trapped underground after a methane gas explosion. 11 of their colleagues were killed in the blast. with oxygen running out, the sitaution's becoming

increasingly desperate for loved ones waiting for news. a court in pakistan has ordered police to suspend an operation to arrest the opposition leader, imran khan, for a futher 2a hours — to friday morning. it followed pitched battles between security forces and supporters of mr khan outside his residence in lahore. the confrontation began on tuesday when police tried to arrest the former prime minister forfailing to appear in court over corruption charges. mr khan says the charges are politically motivated. italy's highest court has ordered the retrial of two americans who are serving time for the killing of an italian police officer in rome injuly 2019. the americans, who were travelling in italy, had been sentenced to life in prison for the killing, which followed a botched drug deal. nasa has unveiled a brand new spacesuit design that its astronauts will wear on future missions to the moon. the suits are part of nasa's artemis programme which hopes to return

astronauts to the moon in 20 25. az—a—day moshiri reports. this has got to be one of the most proud moments of my life, i guarantee you. the moon is perhaps an unlikely catwalk, but nasa has decided they need a new line for their iconic spacesuits. this is what astronauts will wear on the artemis iii mission. it will be front and centre as they try to return to the moon. and according to those who have worn nasa's suits, an update was sorely needed. working against that suit was demanding, to squeeze in the gloves, moving the arms and trying to bend over. so it was exhausting. it was so difficult to wear that it led to some rather clumsy if historic moments. now, comfort and mobility are at the heart of the new design. the new helmet offers better visibility and the boots have been updated specifically

for moon walking. they have even insulated them for the moon's south pole. nasa is continuing to test the suit in its custom a0 foot deep pool in houston, texas. it's going to give us a really great indication of how mobile the suit is, and, again, what kind of fatigue — if anything — thecrewmembers are going to feel after working for six or seven hours. we will see one major difference in the final product, though, the outer layer will be white, just like the suits that graced the moon's surface for the very first time. in football, there've been serious clashes between italian police and german football fans in naples after eintracht frankfurt supporters arrived in naples despite being banned from attending wednesday's champions league match against napoli a police car was set on fire by a group of hundreds of supporters and smoke bombs and flares thrown at officers, who responded with tear gas.

local media said eintracht fans were also attacked by some napoli fans. a czech so—called free—diver has plunged to a record depth beneath a frozen swiss lake. ao—year—old david vencl�*s record breaking plunge to 52.1 metres in a single breath follows his entry into the guinness world record book for swimming the length of a frozen czech lake in 2021. at one minute 5a seconds, the dive was slower than expected but his promoter explained that this was likely due to him being "a little more nervous than usual". just before we go i want to show you these pictures from california, where residents of these homes in san clemente 0range county had a very close call with a landslide. the state's had a tough few months for storms, and it's now facing, notjust heavy rains but melting snow that's adding to the flood waters and causing mud and landslides like these.

let's bring you some breaking news now. uk ministers have reached an agreement with strikes in the nhs. they were strikes due to be planned but it seems a deal has been reached on a pay deal. it was anticipated this could happen, it seems they have reached a deal, we do not have the details at the moment but we will bring those to you as soon as we get it. some other news in the past few minutes. the united states have released pictures of what it claims an incident between a us drone and a russianjet. in these pictures, you

can see what is claimed to be a russian jet can see what is claimed to be a russianjet approaching can see what is claimed to be a russian jet approaching the drone, the russianjet then begins russian jet approaching the drone, the russian jet then begins to release fuel as it passes, it then flies over the top of the drone which then stops the video recording, the russianjet repeats the pass over the drone, these pictures are from the us air force. russia has denied us at durations that it's jet acted recklessly in the incident over the black sea on tuesday. let's show you those pictures one more time. that incident between the us drone and the russian jet incident between the us drone and the russianjet which has incident between the us drone and the russian jet which has caused controversy between the two countries in these pictures, you can see what is claimed to be the russian jet approaching the grown, the russian jet begins to release fuel as it passes by, then flies over the top of the drone which then stops the video from recording. the russian jet then repeats the pass

over the drone, these pictures are from the us air force, we hope to speak to our defence correspondent to get more analysis on what we are seeing and what its implications are. passengers are being warned to check before they travel today, as rail workers in the rmt union take part in another strike over pay, jobs and working conditions. between a0 and 50% of services are expected to run — but there will be wide variations. here's our transport correspondent katy austin. sharon from grimsby relies on the train to get to specialist medical procedures in london every few months. today's strike meant rearranging an appointment. i was very cross, really upset and i just wish they'd get it sorted. thousands of rail workers, such as guards, are walking out at companies which operate train services. many operators will run a very limited service. the rmt has rejected a 5% pay rise for last year and 4% this year and it opposes some

of the conditions attached. the disruption won't be on quite the same scale as previous rmt strikes, and that's because staff at network rail, including signal workers, aren't taking part. they're currently voting on whether to accept a revised offer. the train companies haven't tabled new proposals but say their staff should also get a vote. we've asked rmt to put this offer to their members. it's really important to understand they have never had the opportunity to vote on this and we believe it is a fair offer. the union says it has consulted members and a better offer is needed. what the train operating companies need to do, essentially, the government, because they're running the whole show, really, is sit down, negotiate a reasonable compromise with us and then we would almost certainly put it to a referendum if it was something that we thought the members might wish to consider. the industry hopes to arrange

fresh talks next week. for now, more strikes lie ahead. katie austin, bbc news. 0ur transport correspondent katie austin has more on the potential knock on effects from this particular strike. we have got staff who run the trains, that is affecting 1a range run so some of them run more than one operator, that is about 18 or 19 around the country. they will operate a limited service today, there will be trains in a lot of places, some places will not have them, where trains are running, they have started earlier than usual and they will finish early too. if anyone is planning on going home later, the last trains will be early in a lot of cases.— in a lot of cases. there are fewer workers on _

in a lot of cases. there are fewer workers on strike _ in a lot of cases. there are fewer workers on strike today - in a lot of cases. there are fewer workers on strike today than - workers on strike today than previous rmt strikes because those who work for network rail who operate the tracks, the signalling, they are not taking part and that actually means the disruption is not quite as extensive as it has been before. some operators, scotrailfor example, there is no impact. the impact is mainly in england today although some services into and out of scotland and wales are affected as well. where we are at the moment is network rail which as i say is not involved in the strike today, its members are currently having a vote on whether to accept an updated offer from their employer. that vote closes on monday at midday. this will be a really important moment i think because if they accept the offer, they may not, if they accept the offer, does that then open the door to movement on the train company's side of things and couldn't open the door to talks for example that means these other strikes at the end of this month and the start of april could be called off perhaps. that is the thing to

watch next. off perhaps. that is the thing to watch next-— off perhaps. that is the thing to watch next. , , ~ , ., , watch next. these strikes have been auoin on watch next. these strikes have been going on since _ watch next. these strikes have been going on since the _ watch next. these strikes have been going on since the summer, - watch next. these strikes have been going on since the summer, can - watch next. these strikes have been going on since the summer, can you j going on since the summer, can you remind us why they have been so protracted and difficult to resolve? this is really about not only pay, but pay and also changes, big changes that the industry says need to happen in exchange for a pay rise. and the union objects to a lot of those changes. and they have proved sticking points in negotiation so far. so the latest offer that the airram —— rmt rejected from the train side of things was a 5% pay rise from last year and 4% for this year, but dependent on these changes to working conditions, there is a lot of things about their including proposals around the future of ticket office where a lot of those would be close. the government ultimately holds the purse strings here, it is the government who says this is the amount of money on the table and the employers and unions try to negotiate it. the government

and the industry have said what has been offered so far was the best and final offer, can we move forward from here? can anything be arranged within those best and final, sorry, within those best and final, sorry, within the money that is already on the table that the rmt might be as acceptable? that is what we are looking at now. the government has indicated it is not going to put more money out there, so it is whether the train companies and the rmt can work something out between them that the rmt might think it's acceptable to its members so they might get a vote which network rail is already having. early exit polls from elections to 12 provincial parliaments in the netherlands suggest an astounding victory for the recently formed farmer—citizen—movement. formed in 2019 in the wake of widespread farmers protests, the party is projected to win the most seats ahead of prime minister mark rutte's liberal conservative people's party for freedom and democracy. earlier i wasjoined by our correspondent in the hague, anna holligan to speak more about the farmer—citizen movement. they did not exist four years ago,

that is how remarkable this earthquake in dutch politics really is. the big question now is will this farmers' party that was built on a foundation of fear among farmers that their farms, their dairy farms were going to be bought out under government plans to try to reduce harmful nitrogen pollution in order to meet climate targets, will this party actually be able to live up to that promise by blocking the government's plans in the senate? it looks set to become the largest party. and yet, on the other side of the political spectrum, on the left, the greens and labour are teaming up to form an alliance which will probably get the same number of seats, 15 seats in the senate. the difficulty for the government coalition which looks set to lose eight seats in the senate is if they team up with this left—wing alliance, they will be accused of ignoring huge swathes of the dutch population and that is exactly what the farmers' party leader has accused the government of, of neglecting populations.

because, actually, farmers in the netherlands, they represent a small part of the population, 200,000 people in this country of 80 million work on farms, agriculture represents 1.5% of dutch gdp, the farmers' party has created this brand, this message, populous, slightly right—wing on things like the eu and immigration and of course climate and agriculture which has really resonated among communities right across the country who feel as though their voice is not being heard by the ruling coalition. this vote and these results appear to reflect that sense of disillusionment right across the left and the right of the dutch society. global cocaine production has jumped to record levels over the past two years. a report by the united nations found that more people were using the drug

in africa and asia. the report also found traffickers were using international postal services more often to get drugs to consumers. i spoke with kristian vanderwaeren, the head of belgian customs who explains why antwerp has become the main entry point for cocaine in europe, last year alone seizing a record 110 tonnes, but their incinerators weren't able to keep up. it's been for a long period an increase of the seizures of cocaine in antwerp. we are clearly within the world the most targeted harbour when it comes to cocaine exports. you mentioned the 110 tonnes, but do not forget in latin america, they seized last year 80 tonnes with destination antwerp. we are really, the harbour of antwerp as the number one target for the export of cocaine.

then comes the question, why it is antwerp? why not other harbours? the main reason being that europe is a very attractive market to ship the cocaine. you get more money for your cocaine in europe that you get in the united states. and the market is also very, very big when you compare it to other attractive markets for cocaine handling being japan and australia. it is a used problem and not only when it comes to seizures, but also the violence. last year, we experienced an increase in violence in the city of antwerp, shooting, throwing grenades, and there has been an attempt of kidnapping of our ministry ofjustice. the situation in belgium when it comes to the import of cocaine is getting pretty serious.

it sounds so and you are seizing record amounts of the drug. when you say incinerators can't keep up, what happens then? we have to store the cocaine, but you can imagine if you have such huge amounts of cocaine, we seize very often 4 or 5 tonnes of cocaine and then we have to store this in our facilities. of course, this brings risks, because you never know that the criminal organisations would have the idea to come to our facility and take the cocaine, take their cocaine back from us. therefore, we must avoid having it for a long period storage of cocaine, it is important when we seize the cocaine thatitis destroyed as quickly as possible. you are responsible

for seizing and getting rid of the cocaine, what about the criminals who traffic the cocaine, are they being caught? yes, in the operation, the belgian police and the prosecuter did a very nice job, we had thousands of people who have been arrested. a lot of people have been in prison, there, the authorities did a very good job. having said that, i still see that when it comes to the seizures, when it comes to the influx of cocaine into europe, this operation did not break the criminal organisation. there are still huge quantities of cocaine entering the port of antwerp, notwithstanding the fact that there have been a lot of people arrested and a lot of people have been put injail. nice results, but the influx of cocaine in antwerp has not stopped.

five african nations have warned the british government that its attempt to ban imports of hunting "trophies" poses a greater risk to the conservation of endangered animals than the hunters�* guns. mps will debate and vote tomorrow on a bill which could prevent british hunters from bringing home souvenir pelts and heads. tim muffett has more. it is the hobby of psychopaths. if we ban hunting people will not have an income. — we ban hunting people will not have an income. and? when you are at the top of— an income. and? when you are at the top of the _ an income. and? when you are at the top of the food chain, you have a choice. _ top of the food chain, you have a choice, shoot with a camera or a

gun. _ choice, shoot with a camera or a run. choice, shoot with a camera or a un, choice, shoot with a camera or a run. , gun. the so-called trophy hunting sickens many- _ gun. the so-called trophy hunting sickens many. it _ gun. the so-called trophy hunting sickens many. it is _ gun. the so-called trophy hunting sickens many. it is really - gun. the so-called trophy hunting sickens many. it is really hard - gun. the so-called trophy hunting sickens many. it is really hard to i sickens many. it is really hard to t and sickens many. it is really hard to try and understand _ sickens many. it is really hard to try and understand what - sickens many. it is really hard to| try and understand what pleasure sickens many. it is really hard to - try and understand what pleasure any human being can get from blasting a beautiful animal to pieces. in many instances in trophy hunting, the animals that are killed are animals that have been bred so they are very human friendly. but that have been bred so they are very human friendly.— human friendly. but hunting generates — human friendly. but hunting generates money. _ human friendly. but hunting generates money. illegal. human friendly. but hunting l generates money. illegal lion human friendly. but hunting - generates money. illegal lion hunts in some african countries for example can cost more than £100,000, money that can pay people's wages, boost local infrastructure and fund conservation projects. it is boost local infrastructure and fund conservation projects.— conservation pro'ects. it is very well regulated, _ conservation projects. it is very well regulated, it _ conservation projects. it is very well regulated, it is _ conservation projects. it is very well regulated, it is not - conservation projects. it is very i well regulated, it is not somebody 'ust well regulated, it is not somebody just taking a gun and going and hunting. — just taking a gun and going and hunting. we have systems in place, we have _ hunting. we have systems in place, we have counts, we make sure that there _ we have counts, we make sure that there is— we have counts, we make sure that there is a _ we have counts, we make sure that there is a certain number, mostly there is a certain number, mostly the old _ there is a certain number, mostly the old males that are being taken off when— the old males that are being taken off when it comes to certain

species. _ off when it comes to certain species, we don'tjust go and hunt unsustainably. and? tomorrow here in parliament— unsustainably. and? tomorrow here in parliament mps are due to debate and vote on— parliament mps are due to debate and vote on whether hunters from the uk should _ vote on whether hunters from the uk should he _ vote on whether hunters from the uk should be banned from bringing back hunting _ should be banned from bringing back hunting trophies. a should be banned from bringing back hunting trophies.— hunting trophies. a body part such as a head. — hunting trophies. a body part such as a head. a _ hunting trophies. a body part such as a head, a horn _ hunting trophies. a body part such as a head, a horn or— hunting trophies. a body part such as a head, a horn or the _ hunting trophies. a body part such as a head, a horn or the skin - hunting trophies. a body part such as a head, a horn or the skin of. hunting trophies. a body part such as a head, a horn or the skin of an j as a head, a horn or the skin of an animal that they have hunted. animal welfare issues _ animal that they have hunted. animal welfare issues are _ animal that they have hunted. animal welfare issues are something - animal that they have hunted. animal welfare issues are something i've - welfare issues are something i've always been very passionate about and i am very worried about endangered species being pushed over the brink. , ., ., , , the brink. some conservationists say the brink. some conservationists say the are the brink. some conservationists say they are against _ the brink. some conservationists say they are against this _ the brink. some conservationists say they are against this bill, _ the brink. some conservationists say they are against this bill, they - the brink. some conservationists say they are against this bill, they are i they are against this bill, they are worried about the impact on conservation efforts, on the income of people relying on the hunting industry. who are you to tell them they are wrong? the industry. who are you to tell them they are wrong?— they are wrong? the evidence su: rests they are wrong? the evidence suggests that _ they are wrong? the evidence suggests that communities i they are wrong? the evidence suggests that communities in | they are wrong? the evidence i suggests that communities in africa do not benefit from trophy hunting. it is big business, though, but the money does not go to poor communities, it goes to organisations that arrange trophy hunting. figs organisations that arrange trophy huntinu. �* . .,, organisations that arrange trophy huntinu. �* , .,, ., ., hunting. as well as government and

cross-party — hunting. as well as government and cross-party support _ hunting. as well as government and cross-party support for _ hunting. as well as government and cross-party support for the - hunting. as well as government and cross-party support for the private i cross—party support for the private members bill, there has been high—profile backing for celebrities, but there is real concern that if the ban becomes law, then the hunting industry in many countries it will be hit hard and that the effect will be widespread. the trophy hunting bill is going to destroy— the trophy hunting bill is going to destroy and reverse conservation models _ destroy and reverse conservation models that we are very successful in southern — models that we are very successful in southern africa. the models that we are very successful in southern africa.— in southern africa. the killing of cecil the wine _ in southern africa. the killing of cecil the wine by _ in southern africa. the killing of cecil the wine by an _ in southern africa. the killing of cecil the wine by an american i in southern africa. the killing of i cecil the wine by an american hunter in zimbabwe in 2015 sparked global outrage. in 2016, some conservation charities criticised prince william after he said that commercial hunting can have a positive impact on efforts to save endangered species. whatever parliament decides, many will never agree on this deeply divisive issue. relatives of a world war one soldier have been reunited with his medal, after it was found in a farmer's field in northallerton.

the medal belonged to fred brown of the 4th battalion yorkshire regiment. within 48 hours, the metal detectorist who found the lost piece of history, had traced the descendants and were able to reunite them. phil connell has this report. it's a military honour that was issued during the first world war, a silver medallion found in this north yorkshire field last week by dave batchelor, a dectectorist from durham. i was going along and i got a really good signaland i pinpointed it, dug down and out she pops. in the days that followed, dave and anthony, a fellow detectorist, searched military records and discovered the medallion was a badge given to soldiers injured and discharged from the army. 0n the back, a unique number, that led them to its rightful owner. back in those days in world war i, men walking around of enlistment age would have had opinions cast on them if they weren't out serving, so this badge really was unique to that individual to say, actually, i have served and i have been injured and this

is why i am here today. since the medallion was found, the detectorists have become detectives. this week, they've travelled to the field here near northallerton where the find was made. dave was happy to reunite the silver badge with its now rightful owners. this is what i found in a field the other sunday. your great great uncle fred's silver war badge. it's going where it belongs. you are fred's great great niece, what is it like for you and your dad to get this medal back? it's incredible. it's not something that when i j started the family tree online, it's not something i ever imagined possible. i i have found a great uncle that i didn't know about. now i have, i want to take him fora pint, but i can't. he's not with us any longer. fred's relatives say his lost medal may now be given to a yorkshire museum, a reminder of fred's sacrifice and bravery during

the first world war. a reminder of our breaking news this hour , the united states has released pictures of what it claims is the incident between a us drone and a russia jet. in these pictures you can see what is claimed to be the russian su—27jet approaching the drone. the russianjet then begins to release fuel as it passes. it then flies over the top of the drone which stops the video recording. the russian jet then repeats this pass over the drone. these pictures from the us air force. russia has denied us accusations that its jets actedrecklessly in the incident on tuesday over the black sea.

we have live pictures from tel aviv in israel where there is another day of protest being held across the country against government plans to overhaul thejudicial country against government plans to overhaul the judicial system. the police we understand have made several arrests as protesters try to block main roads across the country. the demonstrations are being dubbed a day of disruption by protesters. these protests have been going on for some ten weeks now. the latest is that the israeli resident has proposed a compromise deal which he said had garnered agreement from all sides. the israeli prime minister, though, has swiftly rejected the compromise which he said was not workable. this comes after the right—wing administration has sought to curb the power of the courts and gave israel, gave itself greater

powers over the judicial powers over thejudicial appointments. there are mass protests in jerusalem appointments. there are mass protests injerusalem which is the size of a big line of protesters along the roads leading to israel's supreme court which started hours after the president had rejected the compromise dealfor his after the president had rejected the compromise deal for his government planned judicial pro taste, overhaul, rather. a new banksy mural has appeared on the wall of a derelict farmhouse in the seaside town of herne bay in kent, uk. the mural, called morning is broken, shows a young boy opening curtains made of corrugated iron alongside a cat. however, it wasn't long before the piece, and part of the building, appeared to be demolished. the owners of the land said demolition work is currently being undertaken at the site.

let's hope the mural survived the demolition process. stay on bbc news with us, you can reach me on twitter. hello again. you may have noticed that the weather today has been much milder than it was yesterday. we've also got a fair bit of cloud around and some rain. so, to give you a comparison, yesterday's maximum temperatures were between six and 9 degrees. today, most of us will see double figures, 13 to about 15. we've got this weather front pushing north bringing rain. this weather front moving eastwards bringing some showers, gusty winds particularly through the irish sea, but the wind is coming from a mild direction, namely from the south—west, across the whole of the uk except for into the northern isles where you will remain in the cold air for the next few days. so the rain continuing to push northwards, here's our weather front crossing scotland, england

and wales, taking its showery rain with it, and, behind it, some sunshine for northern ireland. but that will spark off some sharp showers which could be thundery. and these are our temperatures. 6 degrees in lerwick, to 1a degrees in london. this evening and overnight, our weather front makes it into the south—east, peters out for a time, we'll hang onto quite a few showers and the other weather front stalls across the northern and the western isles. the winds also ease a touch. it's not going to be a cold night for most, although in some sheltered glens in the north of scotland we could see temperatures fall away to freezing, hence, locally, there could well be a frost. so tomorrow we start off with this weather front pepping up in the south east. it's going to be drifting eastwards through the course of the day. there will be quite a rash of showers, it will be quite widespread, some of those heavy and thundery, but some brightness in between. not as windy, but still mild, we are looking at eight to about 1a or 15 degrees. into the weekend, then, our next area of low pressure comes in with its weather front. ahead of it, there will be showers, and with that weather front we will see some rain. also, quite a bit of cloud during the course of saturday with some

brightness developing. some of the showers will be sharp in the south—east and prolonged and we also have the weather front producing this rain across western parts of scotland. the wind here, too, is going to pick up. but we still are in the mild air. and then as we head into sunday, a ridge of high pressure temporarily tries to build across us so we will have some showers to start with, but there will be a lot of dry weather. variable amounts of cloud, some sunshine coming through, but then the next weather front comes in from the west and that is going to introduce some rain.

this is bbc news — welcome if you're watching here in the uk or around the globe. i'm geeta guru—murthy. our top stories: european markets rally after the swiss national bank bails out credit suisse to save it from collapse. uk chancellor, jeremy hunt, insists his budget will get people back to work — and won'tjust benefit the rich saving for retirement. the united states releases footage of what it claims is the collision between a us drone and a russia jet over the black sea. the leaders of south korea and japan meet for the first time in twelve years, seeking to set aside historic differences. check before you travel — rail workers in the rmt union strike again over pay, jobs and working conditions.

banks and governments around the world are nervously watching the european markets to see if the crisis surrounding credit suisse will develop into a global banking crisis. so far things seem reasonably calm with shares in credit suisse rising almost 30% after the swiss national bank gave it a lifeline. but there are concerns that a potential interest rate rise later on thursday by the european central bank could add further volatility to the situation. joining us now from geneva is our correspondent imogen foulkes. just tell us what their reaction is at the moment to this, credit suisse

has been in trouble for a while hasn't it?— has been in trouble for a while hasn't it? , . , , ., , , hasn't it? yes it has. this has been a problematic— hasn't it? yes it has. this has been a problematic bank. _ hasn't it? yes it has. this has been a problematic bank. it _ hasn't it? yes it has. this has been a problematic bank. it is _ hasn't it? yes it has. this has been a problematic bank. it is one i hasn't it? yes it has. this has been a problematic bank. it is one of- a problematic bank. it is one of switzerland's big banks, it has global reach. it has had a litany of problems to do with scandals around management, practice, a spying scandal, exposure to groups like green seal that lost a lot of money. the problem with credit suisse is confidence. we saw the statement, the attempted rape ski statement from the swiss national bank last night saying that actually. that obviously overnight has decided that it's not going to be enough and credit suisse will avail itself from this $55 billion credit extension

the swiss national bank has offered. now we see credit suisse's shares jumping up this morning and there are still underlying concern for this bank. let's see how long those share prices held steady. let's see what happens in the rest of the markets. we do know the swiss government is meeting this afternoon with the head of the swiss national bank to discuss the crisis of credit suisse. the feeling here is, we studied the ship but there are still stormy waters ahead. taste studied the ship but there are still stormy waters ahead.— studied the ship but there are still stormy waters ahead. we are watching whether there — stormy waters ahead. we are watching whether there is _ stormy waters ahead. we are watching whether there is a _ stormy waters ahead. we are watching whether there is a potential— whether there is a potential interest rate rise later today. ihla interest rate rise later today. no one interest rate rise later today. mr? one wants interest rate rises. they were planning an interest rate rise because of the financial markets, it may not go ahead, or it may be smaller than planned because it doesn't want to increase borrowing costs too much if there is a financial crisis triggered by the

silicon band bank. the problems we have seen with credit suisse, the nervousness across the financial sector in britain, europe, in the united states and i think this is the problem now. it's this domino factor when were in economically uncertain time, high food and fuel costs. it's a matter of confidence. it has triggered real nervousness and market instability and frankly, the global financial market does really not need that right now. imogen foulkes, thank you very much. with me is our business presenter ben thompson. the finance committee today will be

told that divisive actions being taken the us government, should be reassuring that it remains sound. in the ft, talking about a slow rolling crisis in the us. where are we? that is the big question. _ crisis in the us. where are we? trust is the big question. the words of reassurance that might be coming now from central banks and from regulators will be to try and calm nerve because we know what happens when investors getjittery, it's things start happening very quickly and i think the pace of the response that we have seen particularly in switzerland, the swiss central bank to reassure investors of the finances there, the funding is there the credit suisse if it is needed. we need to remind ourselves why we are in this position right now and there is a caveat to all this, credit suisse has been struggling for a long time. it's been caught up

in scandals and loss—making for a number of years. when interest rates start rising, it means that that bonds in which they have invested a lot of money are less attractive. normally that isn't a problem because they will make the money that they lose later on. what you might find is that if people start taking money out the bank, they need to sell those assets to make some cash, some liquid assets and at the moment they are having to do that at a loss so they might not have enough money to cover the deposits. say what the swiss central bank has done has stepped in and said look, if we need the cash to pay those deposits, we can do that. in the longer term, people might start again nervous and want more pete money out, we might sightseeing other banks that are in a similar position also start to fail. just continual drip drip of banks or whether this escalates into a full—blown crisis, we are not

there yet, markets are back up, they are reassured by what they have had this morning but all eyes will be on the european central bank. 115, uk time today, we'll get an update. they have a very difficultjob on their hands. top they say, we're going to hold off raising rates although they say, inflation is though main concern so therefore we need to raise interest rates to keep inflation in check? they have a very difficultjob in the hands right now. the expectation has been that it will raise rates to three and a half percent. we will find out whether they will do that. just for eo - le whether they will do that. just for people watching _ whether they will do that. just for people watching you _ whether they will do that. just for people watching you either- whether they will do that. just for people watching you either have i people watching you either have small businesses or they are worried about their own personal funds. small businesses or they are worried about their own personalfunds. the last time we were here there was ever relentless elite small amount of money that was guaranteed to anybody. i think it was around £85,000 in the uk, i think it is

double the amount now. what happens if you've got more than that in business or personal accounts right now? 0r business or personal accounts right now? or if you are in one of the three banks are struggling? in the us, that three banks are struggling? in the us. that limit _ three banks are struggling? in the us, that limit is _ three banks are struggling? in the us, that limit is $250,000. - three banks are struggling? in the us, that limit is $250,000. in - three banks are struggling? in the us, that limit is $250,000. in the uk £85,000 is protected in your account. i think we are in a long way off seeing our local banks facing any sort of crisis on those deposits. that's because after the financial crisis of 2008, all the rules on liquidity and how much buffer they had in reserve were tightened, so it means that they are much safer than they were before. that is because the risk investment arms did not pay off. we've seen a strengthening of those rules its 2008. it is interesting that they have deregulated or loose in those rules, the timing cannot be worse

for that role. at this moment we are nowhere near needing to worry about the crisis in uk banks. what we are seeing is an institutional investors thinking do i need my money anywhere else? for credit suisse, it a very specific set of problems. they have been involved in many scandals over seven years so their situation is already precarious. in the us, silicon valley bank, not a huge player, although for tech firms that are all caught up in this. the other two bags that, also relatively small from a global point of view. in the uk, silicon valley bank uk arm was bought and protected by hsbc. governments around about stepping into reassure that there are also big questions about how long this lasts and how long this will persist and what the european central bank will do at 1:15pm today.

the uk's chancellor, or finance minister, jeremy hunt, insists his budget will get people back to work — and won't just benefit the rich saving for retirement. his comments come after the opposition labour party criticised his plans to get rid of a cap on the amount people can save for their pension, before paying extra tax. mr hunt also unveiled plans to expand free childcare in england. our business correspondent, emma simpson, reports. ok, on your marks, get set, go! at this nursery in southeast london, working parents like charlie love the idea of 30 hours of free childcare for those nine months and over in england. her daughter dorothy will hopefully qualify. 0n the top line, ecstatic. i've just gone back to work after having my second child, so it's really demoralising that the majority, well, not even the majority, my whole salary goes on childcare. good news, it's a good news day for childcare. and i think it's reassuring that it's now on the agenda

and top of the agenda. a shame it's taken so long. if you had more free childcare, then you would work a bit more? yeah, yeah, for sure. i think i like the balance. this is amazing. june is in charge of this nursery and 39 others across london. she's skeptical the government plans can work. they're saying that childcare wants to be the best, they want to be the best, they want to do the best for parents. then they need to fund it and they need to put their hands into their pockets a little bit more deeply than 201i million. you're not sure the sums add up yet? they don't add up. this has been dubbed the back to work budget with a whole range of measures to tempt parents, the over fifties, retirees and those on disability benefits into employment. and that includes abolishing the lifetime allowance for pensions, the amount that workers can accumulate before they pay extra tax. 0n the cost of living, the government's going to continue to cap typical household energy bills at £2,500

until the end ofjune. fuel duty for motorists is frozen for another year. for business, corporation tax is going to increase from 19 to 25%. but firms will also get £9 billion of tax relief if they invest in new machinery and technology. in the pandemic, we spent about £400 billion to protect businesses and families. with the energy crisis, this year and last year, we are spending over £3000 per household on average to help people with high energy prices and other cost of living pressures. yes, those all have to be paid for. i think it's the right thing to do to get through these difficult periods but we have to be honest with people. it means that for a while, the burden of tax is going be higher. labour has attacked pension changes in the budget as a £4 billion tax giveaway for the wealthiest and there was little to solve the uk's problems.

we know there is a problem around doctors so let's fix the problem for doctors. this £1 billion or more giveaway is the wrong priority when ordinary people are facing a cost of living crisis. that's why we are going to force a vote on this in the house of commons on tuesday, and encourage conservative mps to vote for their constituents. here's the reality for households from the government's official forecaster. this graph shows post—inflation disposable income. it was already predicted to fall sharply over two years. whilst it now falls less than predicted back in november, we're still facing an historic drop in living standards. what we've thought for a long time is the economy is going to bump along the bottom, to use a phrase, at about zero for most of this year. that's broadly what the 0br are saying. the important point to bear in mind as a result of that is that a very large fraction of households will suffer a material deterioration in their standard of living this year.

the chancellor says the budget is a comprehensive plan for growth, but he has many challenges ahead. emma simpson, bbc news. all the reaction from westminster now. 0ur chief political correspondent, nick eardley sent us this update. it is interesting because if you listen to the chancellorjeremy hunt on his morning round of interviews, he is pretty optimistic, happy that inflation is going down, that there is going to be growth in the economy, even if it is a bit sluggish, and he's confident that his growth plan is going down well. and i think it is fair to say some of the headline announcements on things like the energy price gap in the uk and the expansion of childcare in england, they have gone down pretty well, although certainly on the latter there are questions about specifics. but what is really interesting is if you delve into the numbers from the number of crunchers in the office for budget

responsibility, they are a lot bleaker, and actually what they show is people in the uk are going to be paying a lot more tax over the next few years, the fact that the point at which you pay different income tax and national insurance taxes has been frozen means people will be paying more over the next few years. it's the equivalent to putting 4p on the basic rate of income tax. there is that, the increased tax burden and the fact that living standards are not improving at all. the household real terms income, expendable income, is going down, 6% over a couple of years, which is a record amount. there is optimism in government and a pretty rosy picture being painted by ministers, not certain that would be felt by all households and i think for a lot of people some of the rhetoric of this budget may feel that it is not

being replicated in their lives. the united states has released pictures of what it claims is the incident between a us drone and a russia jet. in these pictures you can see what is claimed to be the russian su—27jet approaching the drone. the russianjet then begins to release fuel as it passes. it then flies over the top of the drone. the russian jet then repeats this pass. these pictures from the us air force. russia has denied u.s. accusations that its jets acted recklessly in the incident on tuesday over the black sea. those pictures have been sent to us from the us.

to the netherlands now where early exit polls from elections to 12 provincial parliaments suggest an astounding victory for the recently formed farmer—citizen movement. formed in 2019 in the wake of widespread farmers protests, the party is projected to win the most seats ahead of prime minister mark rutte's liberal conservative people's party for freedom and democracy. 0ur correspondent at the hague, anna holligan, told us more about the farmer—citizen movement. they didn't exist four years ago. that's how remarkable this earthquake in dutch politics really is. the big question now is though, will face this farmers party that was built on a foundation of fear among farmers that their farms, their dairy farms, were going to be bought out under government plans to try to reduce harmful nitrogen pollution in order to meet climate targets, will this party actually be able to live up to that promise by blocking the government's plans in the senate? because it looks set to become the largest party and yet on the other side of the political

spectrum, on the left, the greens and labour are teaming up to form an alliance which will probably get the same number of seats, 15 seats in the senate. but the difficulty for the governing coalition, which looks set to lose about eight seats in the senate, is that if they do team up with this left—wing alliance, they will be accused of ignoring huge swathes of the dutch population and that is exactly what the farmers party leader has accused the government of — of neglecting populations. because actually, farmers in the netherlands represent quite a small part of the population, about 200,000 people in this country of 18 million work on farms, and farming and agriculture represents about 1.5% of dutch gdp. so what the farmers party has done is create this brand, this message, slightly right wing on things like the eu and immigration and of course climate and agriculture, which has really resonated among communities right across the country,

who feel as though their voices aren't being heard by the ruling coalition. and this vote, these results, appear to reflect that sense of disillusionment right across the left and the right of the dutch society. nasa has unveiled a brand new spacesuit design that its astronauts will wear on future missions to the moon. the suits are part of nasa's artemis programme which hopes to return astronauts to the moon in 2025. azaday moshiri reports. this has got to be one of the most proud moments of my life, i guarantee you. the moon is perhaps an unlikely catwalk, but nasa has decided they need a new line for their iconic spacesuits. this is what astronauts will wear on the artemis iii mission. it will be front and centre as they try to return to the moon. and according to those who have worn nasa's suits, an update was sorely needed.

working against that suit was demanding, to squeeze in the gloves, moving the arms and trying to bend over. so it was exhausting. it was so difficult to wear that it led to some rather clumsy if historic moments. now, comfort and mobility are at the heart of the new design. the new helmet offers better visibility and the boots have been updated specifically for moon walking. they have even insulated them for the moon's south pole. nasa is continuing to test the suit in its custom 40 foot deep pool in houston, texas. it's going to give us a really great indication of how mobile the suit is, and, again, what kind of fatigue — if anything — the crew members are going to feel after working for six or seven hours. we will see one major difference in the final product, though, the outer layer will be white,

just like the suits that graced the moon's surface for the very first time. the leaders of south korea and japan are holding their first summit in twelve years, as they seek to set aside historic animosities. the talks will likely focus on regional security and north korea. it come hours after the north koreans launched an intercontinental ballistic missile. it landed outside japan's territorial waters. these pictures from the japanese ministry of defence show the likely tailfrom that missile. 0ur correspondnet, jean mackenzie has the details from seoul it was a timely reminder why it has been increasingly thinking wants to incorporate more closely to japan

when it comes to security and defence. this is now the fourth missile from korea in a week, each becoming more aggressive from the least. these missiles are capable of reaching us mainland and it shows that north korea is becoming more of a threat, not only to the united states back to south korea and japan and seoul and tokyo can see the benefits for them if they are to share their intelligence and have their militaries work closely together. so at their press conference that we had earlier, the two leaders said that they are going to restart security talks shortly and this is hugely significant and it is what the us has been asking. if it's it is what the us has been asking. if its two main allies can do for a long time. for south korea, this was about more than just military security. it was also about economic security. it was also about economic security. south korea wanted to shore up some of those vital supply chains that allow it to stay at one

as the world's leading producers of semiconductors and when things were particularly sour between korea and japan. japan slapped things they needed to make the semiconductors. 0ne tangible thing that they wanted out of this, and they have succeeded. japan has agreed to lift those restrictions and in return, south korea has agreed to withdraw the complaint it had made to the world trade organization, so this is progress here today. more than anything, the summit was about these two leaders trying to rebuild years of broken trust and they have made progress here as well because they have agreed that they will meet more frequently now going forward in each other�*s countries. this isjust frequently now going forward in each other�*s countries. this is just a return to the sort of diplomacy that we would expect for two countries that are neighbours and that are so

closely aligned on so many issues. for these two countries, it was a big step for them to make. ministers in the uk are preparing to announce a ban on tiktok on government phones. the app is owned by chinese company bytedance. a number of member of parliament use the app, alongside number ten itself — their account was launched by former prime minister, boris johnson. tiktok has denied allegations it hands users' data to the chinese government. joining me now is our asia pacific editor, celia hatton. it follows canada, the european union have banned it on the phone. the us was the first country to ban most government workers from having it on their phones.— most government workers from having it on their phones. whig? firstly, it on their phones. why? firstly, tiktok collect _ it on their phones. why? firstly, tiktok collect a _ it on their phones. why? firstly, tiktok collect a lot _ it on their phones. why? firstly, tiktok collect a lot of _

it on their phones. why? firstly, tiktok collect a lot of uses i it on their phones. why? firstly, tiktok collect a lot of uses data | tiktok collect a lot of uses data and they have been known to use that data to invade the privacy of individuals. back in 2022, four employees were fired after it was found that they access the phone of us journalist to try and find out who they are again getting leaks from. ,, , ., ., from. the us is threatening a national ban _ from. the us is threatening a national ban aren't _ from. the us is threatening a national ban aren't they? it i from. the us is threatening a i national ban aren't they? it says what the us _ national ban aren't they? it says what the us needs _ national ban aren't they? it says what the us needs is _ national ban aren't they? it says what the us needs is a - national ban aren't they? it says what the us needs is a national| national ban aren't they? it says i what the us needs is a national data privacy protection law, like what they eu has and china has. hugely --oular. they eu has and china has. hugely popular- hugely _ they eu has and china has. hugely popular. hugely popular, - they eu has and china has. hugely popular. hugely popular, there i they eu has and china has. hugely popular. hugely popular, there is| popular. hugely popular, there is auoin to popular. hugely popular, there is going to be _ popular. hugely popular, there is going to be huge _ popular. hugely popular, there is going to be huge political- popular. hugely popular, there is going to be huge political hurdles and legal hurdles because there are freedom of speech groups who are really going to fight that blanket ban. . ~ really going to fight that blanket ban. . ,, , ., really going to fight that blanket ban. . ~' , ., , really going to fight that blanket ban. . ,, , . really going to fight that blanket ban. . ~ ,, , . ., really going to fight that blanket ban. . ~' i., , . ., .., ban. thank you very much for coming in and we will — ban. thank you very much for coming in and we will bring _ ban. thank you very much for coming in and we will bring you _ ban. thank you very much for coming in and we will bring you the _ in and we will bring you the announcement on the uk ban that is expected pretty shortly, announced by the cabinet ministers stir that

shortly. this is bbc news, we will be back shortly. yesterday's maximum temperatures were six to 9 degrees, most of us will see double figures. we have got this weather front pushing on, bringing rain. this weatherfront bringing rain. this weatherfront bringing showers, gusty winds through the irish sea but the wind is coming from a milder direction, from the south—west across the whole of the uk. it will remain in the cold airfor the next of the uk. it will remain in the cold air for the next few days. the rain continued to push north west,

our weather front is crossing scotland, england and wales. behind it, some sunshine for northern ireland but that will spark off some showers which could be fundraiser. these are our temperatures. this evening and overnight, our weather front makes it into the south—east, we will hang onto quite a few showers and weather weather front stores across the northern western isles, the winds will also ease a touch. some shouted blends in the north of scotland could see temperatures falling to freezing, and locally some frost. tomorrow at the weather front will pep up in the south—east, twisting eastward through the course of the day. there will be some widespread showers, some of them heavy and thundery. still mild, looking at eight to 14 or 15 degrees. into the weekend, our next area of low pressure comes on this weather front. there will be showers and we will see the rain oak

along that weather front. some brightness developing on saturday but some of the showers will be sharp in the south—east, the weather front properties this rain in the western parts of scotland and the wind is going to pick up too. we are still in milder air. as we head into sunday, pasha temporarily tries to build across us so we will have to be showers to start off with but there will be some dry weather. some sunshine coming through and the next weather front sunshine coming through and the next weatherfront comes in sunshine coming through and the next weather front comes in from the west and that is going to introduce and rain.

a bailout for credit suisse. the swiss central bank steps in to guarantee $54 billion. its shares bounce back, but is it enough to calm fears of a new financial crisis? the us ramps up the pressure on tiktok, calling for the chinese tech giant to be sold over security concerns. welcome to world business report, i'm ben thompson. let's start with credit suisse, because its shares have been on a roller—coaster ride over the past 24 hours,