Skip to main content

tv   BBC News  BBC News  March 19, 2023 8:00pm-8:31pm GMT

8:00 pm
this is bbc news with the headlines.... switzerland's largest bank, ubs, has taken over its struggling rival — credit suisse — in an emergency measure designed to protect the swiss economy. in this difficult situation, the takeover of credit suisse by ubs is the best solution for restoring the confidence that has been lacking in financial markets recently. ukraine condemns vladimir putin's visit to mariupol — a devastated city which was captured by russian forces. hello and welcome to bbc world news. the government of switzerland says
8:01 pm
that the country's biggest bank, ubs, has taken over its troubled rival — credit suisse — in an emergency measure designed to protect the swiss economy. credit suisse has seen its value plummet over the last week due to fears about the company's financial health. regulators in switzerland had spent the day trying to pave the way for a deal to be struck before the financial markets open tomorrow. here's the swiss president alain berset speaking at a press conference a short time ago. on friday, the liquidity showed that it was no longer possible to restore the necessary confidence, and the swift and stabilising solution was absolutely necessary. this solution is the takeover of credit suisse by ubs. it is supported by the federal council following several meetings with the swiss national bank, with a
8:02 pm
regulator, credit suisse and by ubs. the federal council has every confidence that in this difficult situation, the takeover of credit suisse ubs is to restore the confidence that has been lacking recently and for best managing the risk to our country and its citizens. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it is early days. but i don't think it is going to be easy. ubs is the bigger of the two but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, or more in a big city like bern, but at least one branch in every town. so we are looking certainly at probably thousands ofjob losses,
8:03 pm
because what is the point of having two branches of the same bank in a small town or village? that is clearly not going to happen. but i think also if you look locally, there is going to be a lot of scrutiny now. -- if —— if you look globally. these are both globally important banks. now it will be just ubs. what is going to happen with the investment sector? with the wealth management sector? further down the line, given that this meltdown seemed to take the swiss financial regulators by surprise, what does it mean for switzerland's reputation for being a safe place to invest your money? this is a catastrophe, frankly, not just for credit suisse but for the swiss financial sector. mohamed el—erian — chief economc advisor at the international financial services provider allianz said a ubs take—over of credit suisse
8:04 pm
is the least—bad option. it is not great but it is the least bad, that is the first element. mit? bad, that is the first element. why would ou bad, that is the first element. why would you say _ bad, that is the first element. why would you say it — bad, that is the first element. why would you say it is _ bad, that is the first element. why would you say it is the least bad? because the other two were either a nationalisation of credit suisse and the assumption by the swiss government of all the problems, or alternatively shutting down credit suisse and that is very difficult to do. it is one of the systemically important banks. among the three possible options, this is the least bad. ., ' . , ., ., possible options, this is the least bad. ., ' . , ., bad. how difficult is it going to be for ubs to take _ bad. how difficult is it going to be for ubs to take over— bad. how difficult is it going to be for ubs to take over credit - bad. how difficult is it going to be l for ubs to take over credit suisse? these are two huge banks, what is going to go into this kind of merger? going to go into this kind of meraer? , ., , ., merger? there is a short-term roblem merger? there is a short-term problem and — merger? there is a short-term problem and it _ merger? there is a short-term problem and it longer - merger? there is a short-term problem and it longer term - merger? there is a short-term - problem and it longer term problem. the short—term problem starts tomorrow, which is to make sure the market except that this deal. how much support is ubs getting from the swiss government? what are the
8:05 pm
indemnities like because ubs is taking on a troubled bank with legal issues, will ubs be protected from that? there are lots of short—term issues. the long term issue is what does ubs do with the different parts of the banks where there is a lot of parallels with what it does and overlaps. this is not going to be an easy thing to digest. this is a big bite and ubs will need time to digest it. bite and ubs will need time to dicest it. ~ ., , bite and ubs will need time to dicestit.~ . , bite and ubs will need time to dicest it. ~ . , , �* digest it. what is in the sport ubs? wh would digest it. what is in the sport ubs? why would they _ digest it. what is in the sport ubs? why would they want _ digest it. what is in the sport ubs? why would they want to _ digest it. what is in the sport ubs? why would they want to take - digest it. what is in the sport ubs? why would they want to take over l digest it. what is in the sport ubs? why would they want to take over a troubled bank with legal issues? this is not a voluntary marriage, this is a forced marriage, a shotgun wedding. ubs is being pushed very hard by the swiss authorities and i suspect the swiss authorities are being pushed very hard by the regulatory authorities in the us and uk where credit suisse has quite a presence. uk where credit suisse has quite a resence. , , , ., ., , presence. very briefly, what does this mean for— presence. very briefly, what does
8:06 pm
this mean for the _ presence. very briefly, what does this mean for the employees - presence. very briefly, what does this mean for the employees of l this mean for the employees of credit suisse? around 50,000 of them globally. it credit suisse? around 50,000 of them aloball . ., , credit suisse? around 50,000 of them aloball . . , . ., , globally. it means uncertainty, it means more _ globally. it means uncertainty, it means more headaches, - globally. it means uncertainty, it means more headaches, and - globally. it means uncertainty, it| means more headaches, and they globally. it means uncertainty, it - means more headaches, and they have already had quite a few of them, and it probably means slamming it down even more than what credit suisse management had announced. —— slimming it down. the russian president vladimir putin has visited the ukrainian city of mariupol, believed to be his first time inside territory seized by russian forces. the visit provoked a furious response from some ukrainian officials — mariupol�*s exiled mayor told bbc news that mr putin was a �*criminal who'd returned to the scene of the crime'. 0ur diplomatic correspondent james landale reports from ukraine's capital, kyiv. vladimir putin arrived in mariupol by helicopter, at least according to pictures broadcast by russian state television. then he drove himself into the city amid tight security on what's thought to be his first known visit to parts of ukraine seized by russian forces after last year's invasion. in the darkened streets,
8:07 pm
he met what were described as local residents. the kremlin said it was a "spontaneous visit". they seemed happy to see him. "we need to start getting to know each other better," mr putin said. "we pray for you," one woman said. "finally, you are here. we have waited for you so long." mr putin was invited inside to see one of their homes, seemingly a new apartment — the aim, it would appear, to show a city being rebuilt after last year's devastation. for this is what mariupol looked like last year after three months of russian bombardment, during which ukrainian fighters held out here at the azovstal steel plant — their long defence a symbol of ukrainian resilience. it was here, too, where russian forces bombed a maternity hospital — an early alleged war crime —
8:08 pm
along with a theatre where hundreds of civilians were sheltering and died. here in kyiv, the mayor of mariupol told me how he felt seeing mr putin in his city. translation: like all ukrainians, like all mariupol residents, - i feel that today, a war criminal whose name is vladimir putin visited the scene of a crime he committed for several months — destroying the city of mariupol. the only city russian aviation is carpet bombing is mariupol. this is what parts of mariupol actually look like — contemporary images from local residents showing still—ruined tower blocks. long lines of people queuing for food. all in stark contrast to the reconstruction that mr putin did get to see, including a theatre that had been rebuilt.
8:09 pm
under bright streetlights, he was also shown a playground, only days after he was accused by international prosecutors of illegally deporting thousands of children from occupied parts of ukraine to russia. james landale, bbc news, kyiv. environmental scientists around the world have spent the last 8 years analysing evidence about the climate crisis. their work for the united nations will be revealed tomorrow, in the town of interlaken, high in the swiss alps. the report will become the benchmark for all discussions by politicians and governments on how to respond to the growing threat the planet faces. and as our climate editorjustin rowlatt has been discovering, there's already clear evidence of dramatic change in the surrounding alpine environment. dave searle is claiming an ice face high in the alps.
8:10 pm
dave searle is climbing an ice face high in the alps. it's, like, super exciting, and there's so much happening and going on. his safety depends on the strength of the ice. you're listening for a good thunk, and making sure that the ice axe isn't wobbly. but the ice in the high mountains of europe and the world is changing. for me, it's been quite shocking how fast it's been developing. the winters are just much more mild. we're getting rain higher up the mountain. the greenhouse gases emitted since the industrial revolution have already raised global temperatures by a little overi degree, but the effects are even greater in the alps. the temperature up here is rising by about twice the global average. it has already increased by 2 celsius, and it is having a devastating effect on the snow and ice up here.
8:11 pm
at an observatory 3.5 km up this swiss mountain, they've been monitoring the changing alpine climate for decades. 30 years ago, it never rained, but nowadays in summer, very often, there is rain, even up here at 3500 metres. wow. yep. last year, the ice melt hit a new record. the glaciers of the alps lost 6% of their total volume. the very best forecast - for the future of our alpine glaciers is that we can save about one third i of the ice falling. this is the best case. in the worst case, we'rel going to lose everything. look how the glacier below the weather station is expected to retreat over the next few decades in that worst—case scenario. so, what does dr huss think the message from the un scientists should be? action is now urgently needed. for the glaciers, we see -
8:12 pm
the effects of climate change. this is illustrating how| urgent it is to act now. this landscape appears eternal — literally frozen in time. but without dramatic reductions in greenhouse gas emissions, the ice up here at the top of europe will be lost forever. justin rowlatt, bbc news, in the swiss alps. a charity that specialises in helping british muslims with financial problems, says it's been overwhelmed by people needing assistance. the national zakat foundation has received up to 2000 applications a month for crisis grants — double the figure it was getting last year. michael buchanan reports. for a few hours a day, two—year—old ali has his house and his mother to himself, before his four siblings return from school. berlin is separated from the children's father. the family live off £236 a week.
8:13 pm
it's not enough, and she's built up large debts trying to raise five children alone. they don't understand. they will ask me everything, "can you buy this, can you buy that?" they have to ask me for something, they want it. sometimes i say, "ah, tomorrow, we will do tomorrow," and they forget sometimes. muslim communities in britain are disproportionally poorer than the rest of the country. poverty levels are particularly high among people of bangladeshi, pakistani and black african heritage. this charity distributes zakat — money donated by muslims to help fellow muslims in need. demand for its hardship fund is greater than ever — some months, they're seeing over 2,000 applications. zakat, especially, has always been seen in the muslim psyche in britain, certainly, as for people who are homeless, foodless, in some far—off land. and just to overcome that, some people say, "ok, the community is here for you,
8:14 pm
zakat is yours, as well," that's difficult for us. we're seeing a record number of people accessing support. i at the east london mosque, what started as a response to the pandemic has become an ongoing lifeline. a lot of our families, - they live in very overcrowded housing situations. it is a community that has always l been in poverty, that has reallyl struggled with employment. and it doesn't really help, the fact that things - are really expensive. for this woman, her rent�*s the big problem — it's increased by £200 to 1500 per month. translation: i have two children who i need - to feed, but i can't work. it's so cold and chilly out there and i have no alternative but to come here. there's a huge stigma in muslim communities around asking for help from charities. but when bills are rising this rapidly, faith and family can only go so far.
8:15 pm
michael buchanan, bbc news. the historicjohn lewis chain of department stores is looking into selling a minority stake of the business — for the first time. the high street retailer, which first opened in 1864, is currently jointly owned by its staff. but the bbc understands the company's chair, sharon white, is looking into changing the business model in order to attract new investment. it's believed the plan is in its very early stages — and no agreeement has been made. john lewis says staff will be the first to hear about any changes. i'm joined now by peter hunt, founder of mutuo — a group which advocates for mutual and co—operative organisations. can you take us through, what is your understanding of whatjon lewis is considering? your understanding of what jon lewis is considering?— is considering? good evening, it looks like, _
8:16 pm
is considering? good evening, it looks like, just _ is considering? good evening, it looks like, just like _ is considering? good evening, it looks like, just like every - is considering? good evening, it looks like, just like every otherl looks like, just like every other high street retailer, they are suffering hard times and there are challenges and spiralling costs, and because they are a mutual, they do not have access to investment capital. it means they are having to use the debt they have got and their retained profits in order to invest in the business and it is not enough. from what i have seen, they are looking to increase their investment by attracting external investors into the structure. find investors into the structure. and how would _ investors into the structure. and how would that _ investors into the structure. and how would that change the current structure thatjohn lewis had? how would that change of external investors are invited in? it is a re investors are invited in? it is a pretty big _ investors are invited in? it is a pretty big deal _ investors are invited in? it is a pretty big deal because - investors are invited in? it is a pretty big deal because at - investors are invited in? it is a pretty big deal because at the| pretty big deal because at the moment they are fully owned by their employees through an employee ownership trust, and that means they behave differently. all of these different types of mutuals do not behave the way that the usual corporate animal behaves in the high street, and that is what you get long—term business plans, you get
8:17 pm
stronger trust with customers, you get different behaviours from these kinds of businesses. if you bring in external investors, you can start to change that culture. we have seen significant losses in the high street over the last few years and we do not want to seejohn lewis go down the same route. the wedge of new investment could cause difficulties for them.- new investment could cause difficulties for them. what if john lewis doesn't _ difficulties for them. what if john lewis doesn't take _ difficulties for them. what if john lewis doesn't take this _ difficulties for them. what if john lewis doesn't take this option? l difficulties for them. what if john - lewis doesn't take this option? what could happen to the chain? irate lewis doesn't take this option? what could happen to the chain?— lewis doesn't take this option? what could happen to the chain? we do not know how many _ could happen to the chain? we do not know how many different _ could happen to the chain? we do not know how many different options - could happen to the chain? we do not| know how many different options have been considered, but one of the difficulties in the uk is that there are fewer options in raising capital. if you look around the world, there are choices that other countries have taken where you can still raise external capital but you do not risk the purpose of the business or give away control of the business or give away control of the business to those investors. we think that is an option that should
8:18 pm
be explored deeply with the british government, may be some urgent legislation is required to give some different options forjohn lewis so they can attract the investment they need but not risk the culture and purpose of the business. haifa need but not risk the culture and purpose of the business. how unusual is john lewis. — purpose of the business. how unusual is john lewis, how _ purpose of the business. how unusual is john lewis, how unusual _ purpose of the business. how unusual is john lewis, how unusual is - purpose of the business. how unusual is john lewis, how unusual is it - purpose of the business. how unusual is john lewis, how unusual is it to - isjohn lewis, how unusual is it to have a commercial company, such a large retailer, owned by its employees? it large retailer, owned by its employees?— large retailer, owned by its employees? large retailer, owned by its emlo ees? , , ., employees? it is unusual in the uk, it is not unusual _ employees? it is unusual in the uk, it is not unusual around _ employees? it is unusual in the uk, it is not unusual around the - employees? it is unusual in the uk, it is not unusual around the world, i it is not unusual around the world, there is a lot of employee ownership across the united states and in different parts of the world. for a business of this size, it is not the normal structure. however, business of this size, it is not the normalstructure. however, it is within a broader environment of different types of co—operatives and mutuals, all of which have interesting structures and ways of keeping this different business purpose going. we want to see corporate diversity in the high street, we want to see different types of business been able to flourish and we do not want everyone
8:19 pm
going down the same route of this corporate monoculture, which ultimately will lead to everybody doing the same thing.— ultimately will lead to everybody doing the same thing. thank you very much for taking _ doing the same thing. thank you very much for taking us _ doing the same thing. thank you very much for taking us through _ doing the same thing. thank you very much for taking us through that. - a 17—year—old boy has been stabbed to death at a house party in leeds, west yorkshire police said officers were called to a disturbance at a property in the city where a "large number of people" had gathered in the early hours of sunday morning. officers dispersed people from the area and said no arrests had been made. police are treating the death as murder. the former uk prime minister boris johnson is to publish evidence in his defence — before he faces questions from mps over whether he misled parliament about parties held in downing street during the covid lockdown. his own government brought in the laws, banning many gatherings at the time — but mrjohnson was fined for attending drinks parties. misleading parliament is seen by other mps in the uk as a serious breach of the parliamentary rules. borisjohnson will appear before
8:20 pm
a committee of mps on wednesday — in a televised session — investigating his actions. earlier i spoke to our political correspondent ione wells. i began by asking her what will be looked at on wednesday that hasn't been discussed before. it isa it is a good question and the committee has been clear they are not to be opening an investigation into party gate itself or whether rules were broken. there have already been investigated by the metropolitan police and former top civil servant sue gray into this parties that took place in whitehall during covid restrictions, so they are not real thinning that. it is still a big issue because the key question remains of whether or not borisjohnson question remains of whether or not boris johnson misled question remains of whether or not borisjohnson misled fellow mps about this, the reason it is a big dealfor him as if he has found to mislead parliament, he could potentially face some kind of punishment that mps will get to vote on. this could include suspension from parliament, if that was ten
8:21 pm
days or more, he could face what is known as a recall petition meaning he could face a by—election in his seat. this is all hypothetical because we do not know what the results of the inquiry will be but thatis results of the inquiry will be but that is a concern for him and his political career going forward, but also the conservative party because they probably do not want to be facing any prospect of a by—election right now. facing any prospect of a by-election riaht now. , , , ., facing any prospect of a by-election riahtnow. , , , ., , , right now. very briefly, what sense do ou right now. very briefly, what sense do you have _ right now. very briefly, what sense do you have about _ right now. very briefly, what sense do you have about boris _ right now. very briefly, what sense do you have about boris charles . do you have about boris charles and's popularity within his own party? does he still have a lot of support? he party? does he still have a lot of su ort? . , party? does he still have a lot of su--ort? . , , party? does he still have a lot of suuort? ., , ., party? does he still have a lot of sun-ort? . , . , support? he always has been and is still a divisive _ support? he always has been and is still a divisive figure, _ support? he always has been and is still a divisive figure, certainly - still a divisive figure, certainly there are some very vocal defenders of him, people like former cabinet ministers nadine doris and jacob rees—mogg, who was accused those who criticise the snp came as leading a witch hunt against him, there are some vocal supporters amongst mps. but there are some fierce critics of him in the conservative party who
8:22 pm
feel that some of the scandals he got embroiled in over a party gate and other issues when he was prime minister, have meant the party has been tainted as a result. he is very much dividing the conservative party, some of those factions may come out on wednesday when we gauge people's reaction to this hearing. the reality tv star georgia harrison — whose ex—boyfriend was jailed for sharing explicit videos of her online — has spoke to the bbc about why she believes making a small change to the law around the releasing of private sexual images or footage — would give more victims a greater chance of getting justice. many campaigners agree. luxmy gopal has more — a warning that this report contains flashing images. i want to let all other victims of this crime know i stand in solidarity with them. georgia harrison speaking outside chelmsford crown court after getting justice, following explicit footage of her with her ex partner stephen bear being shared by him
8:23 pm
online for profit, without her permission. bear was found guilty of voyeurism and sharing private sexual videos without consent, and jailed for 21 months. but georgia harrison feels this justice is denied to far too many victims. today she told the bbc the law must change. in the law it says you have to prove that the perpetrator intended to cause distress. however, i think if you are sharing explicit images or videos without consent, it is very obvious it will cause distress and i think this loophole within the law is what is losing so many people a guilty verdict, and if they were to change it and take that out, i think a lot more victims would have a chance of getting somejustice like i did. the government says an amendment to this effect was proposed as part of the online safety bill in november, though it is not known when this would become law. many say the way it stands currently is flawed.
8:24 pm
you can have situations where someone who is sharing an image or a video forfinancial gain, an in bad tastejoke or bragging rights, or indifference, escaping criminal liability because the prosecution cannot specifically prove what their motive is. georgia harrison hopes that her story, the subject of a documentary airing tomorrow, will encourage others to come forward and that the law will soon focus less on the intent of perpetrators and more on the impact on victims. luxmy gopal, bbc london. some incredible images to show you. a car has become wedged against the basement of a hotel in bath. emergency services were called after the car careered off the road in the early hours of this morning. one man had to be cut free from the car by rescue crews, another was able to get out by himself. the car remains stuck next to the francis hotel, though the hotel itself remains open.
8:25 pm
lots of countries have been implementing emergency alert systems lately — in order to deal with severe weather and other threats to the general public. and the uk is no different — emergency alerts will be sent to people's mobile phones next month, to test a new warning system. it allows the government and emergency services to send urgent messages warning of life—threatening situations like flooding or wildfires. helena wilkinson has the details. this is an example released by the government of an emergency alert. a loud siren—like sound will go off, even if the phone is on silent. the message will also appear on the screen to explain the nature of the threat and what to do about it. the new government system will be tested across the uk on sunday 23 april.
8:26 pm
the system is designed to warn people if there is a life—threatening emergency near them. they will be used at times of extreme weather like severe flooding, though they could eventually be expanded to cover terror incidents. alerts will be sent to devices based on their location. the cabinet office says it will only be needed when there is an immediate risk to life, so after next month it may be years before people receive another alert. though, there will be the possibility of opting out of future warnings. helena wilkinson, bbc news. now on bbc news the weather with tomasz shaffernaker. we will need our raincoats and brollies this week looks very unsettled indeed. especially wet in western parts of the uk. monday is no different, i do not think it will
8:27 pm
be raining all the time that some rain on the way and just a little bit of a brightness. a lot of cloud in our direction but it is coming from the south—west, hence it stays mild. multiple weather fronts, crossing the country through monday, more weather fronts out in the atlantic making a beeline for the uk. the forecast for monday shows mild conditions early in the morning, which is around 5 degrees in stornoway, nine in plymouth. you can see where the heavier rain is in the morning. that is one weather front, you can see it moves northwards. in the south—west showers gather across cornwall, devon, parts of southern wales by around 3pm. the best chance of any brightness will be across parts of the midlands, east anglia, lincolnshire and perhaps yorkshire. this is where we will have the mildest weather, elsewhere we will have the thickest cloud and outbreaks of rain. much fresher conditions in the north of scotland with some showers, about six or
8:28 pm
seven. through the course of monday evening, it looks as though that rain will become more widespread and heavy as it spreads across the uk. here is the weather map for tuesday and a broad area of low pressure across the atlantic sending weather fronts in our direction is but a few isobars there, so the winds will be threatening for tuesday into wednesday. on tuesday we are in between weather systems, one out in the north sea and another approaching ireland. we are in between the some sunny spells but also showers. heavy showers in one or two areas, very mild. through the course of the evening, the next weather front will start to sweep towards more eastern areas. through the course of wednesday that big low pressure dominating the weather across the atlantic, it is like a washing machine of cloud and showers circulating multiple areas of low pressure. very breezy day as well and gale—force winds are possible around some western coasts. here is
8:29 pm
an overview of the week ahead. most days have rain icons but at least it is relatively on the mild side. goodbye.
8:30 pm
this is bbc news. the headlines... switzerland's largest bank, ubs, has taken over its troubled rival, credit suisse, in an emergency measure designed to protect the swiss economy. both banks will be given a liquidity assistance loan of up to $110 billion.

68 Views

info Stream Only

Uploaded by TV Archive on