[000:00:00;00] ah ah ah ah, this is the w news coming to live from berlin sold for more than $3000000000.00 swiss bank abs wires, it's rival credit suisse in a deal backed by the country central bank. it's designed to a bird to potential banking crisis,

but stock market suggest more uncertain to you. also coming up, chinese president, fusion pick is on his way to moscow for talks with russian president vladimir putin . she wants to china to be seen as a peacemaker. russia is hoping for support for it's more against ukraine plus 20 years after the american led invasion of iraq. the country is still grappling with the problems left behind that for the removal of saddam hussein and and bonuses football, labor crews, and deal by and munich. their 3rd loss of the season, knocking them out of the 1st place. ah. hello, i'm terry martin. good to have you with us. switzerland's biggest bank u. b. s. has reached a deal to take over its embattled rival credit suisse for just over $3000000000.00

. the take, or com summit fears that an ongoing banking crisis could destabilized a global financial system. the bankrupt, switzerland is preparing emergency measures to fast track. the take over and u. b. s. will receive liquidity assistance from the state. turmoil was unleashed by the collapse with 2 banks in the us. here's the swiss president alarm per se, speaking as the deal was announced, liquidity outflows, and market volatility shows that it was no longer possible to restore the necessary confidence. and that the swift and stabilizing solution was absolutely necessary. and the solution is the takeover of great histories by u. b. s. it is supported by the for the right on sale. following several meetings with national bank. we've our regulator, the feed map, we've tried histories and u b. s. and the federal con,

she'd welcome these takeover and is supporting it's by guaranteeing the framework conditions necessary for its success. stephen beardsley from the w a business is with us now in the studio, steve of forced takeover of switzerland, 2nd biggest bank. how our investors reacting? yeah, we've seen today that investors have been trying to find their footing for the most part, looking for some stability. what we've seen now is that there is sort of a negative sentiment, asian markets falling. in particular, the scale of this deal is it's massive for these markets. and then also some of the details in the steel self is little worrying. for example, some bondholders are completely wiped out and that, that, that risks that there are, there is exposure elsewhere. and so we're seeing, for example, that shareholders in hong kong, in many cases, very worried about the state of things and about that exposure. and so that shares there in some banks are falling as results. and we're also probably going to see some concerns in the us. there's other banks there that are continuing to struggle

. and that could compound some of these issues we're seeing around the world. frankly. you be asked credit suisse, these are not small names. tell us how much, how big of a deal is this? that's a big deal. i mean, as you said, it's more than $3000000000.00 of the deal, the size of it itself. but also because these are 2 of the world's largest banks on friday when markets closed, a credit suisse was valued, i think, $8000000000.00 a market capitalization. the deal is for less than half of that. so shareholders really got wiped out in this case. as i mentioned, a whole transfer bondholders are losing everything is going to cause investors bondholders to really reassess their position. they're going to think about where they are and that could lead to more turmoil as well. but we know what we've seen is that really regulators want to send the message. depositors are going to be protected. assets are going to be safe. that's the primary concern here. that is, the message is being sent and u b. s is not doing this alone. they're getting billions of dollars from the swiss government to make it happen. how important is that money for u. b. s?

yeah, it's, it's, it's important because credit suisse does have a lot of outstanding liabilities that has a lot of legal fees that haven't been, that haven't been solidified yet. so there's a lot of money that could oh, in some areas the government has made clear that will help back in those areas. but also the national bank has made clear that it's going to have a lot of liquidity available when it comes to digest. this take over because it could be very complicated. this is a top priority for the swiss government. it wants this bank, and it's asked us to be able to stay within the country, at least in the beginning. some aspects may be sold off, but there's a very large retail arm as well. there's a lot of us with people who are employed in the bank locally. so that is a huge concern. the message here is liquidity, liquidity, liquidity, that it seems to be a reassuring message that the government wants to send to. the global financial system wants to send, the global regulators wants to send. and that's a lesson from 2008. whether it's enough, we don't know, because there's such a psychological aspect to this. when you look at bank runs. so it's, it's really, they're going to keep messaging. they're going to try and be careful about their

masters because some of it might also be alarming. so it's really this kind of a tightrope walk that we're seeing right now. see, thank you very much. stay beardsley from d. w. business. china's present, she jane ping is due to touch down in moscow in the coming hours. his trip is widely seen as a strong show of support for russian president vladimir putin as he struggles to make gains in his war against ukraine. china has put forward its own peace plan, but his fail to condemn russia's invasion on the eve of the visit, put in said relations between the 2 countries had reached new heights. rushes from mining crane has advanced, retreated, and dinged forward. since it's invasion a year ago. but one thing has stayed constant. european hopes that russia's biggest ally could push it to m, the destruction of beaker she should keep. that is important for

us. and china does not choose russia side or little. we expect china to fully use its influence on russia, russia to respect international law. well, tell us, you know, i said to president she, that it's important for china to exert its influence on russia. china has called for peace negotiations. last month. it released a 12 point piece played for the ukraine conflict that was widely condemned by the west full for not making specific demands on russia. you couldn't. indeed, beijing looks reluctant to clip russia's wings before russia invaded ukraine. both president, g and fulton declared a no limits partnership between their country. they've met in person since then and president she state visit to russia is a strong signal to the west. because m putin didn't win the war quickly, not to rethink its relationship while keeping this very strong alliance intact. so

china's main focus is to make sure that it continues to trade heavily with the west . what also maintaining its close friendship with, with russia. but china may be offering russia material support in the war. us based security researchers say that chinese companies are exporting equipment to sanctioned russian defense firms. and the u. s. has warned that china may soon provide lethal support to russia. there is no evidence of that happening on a wide scale yet. china has taken on and increasingly combative posture towards the us. i'm believe that as moscow's troops struggle on in ukraine, china is working towards it's long term goal of expanding its borders and influence on the global stage. earlier i spoke to d w as jennifer pa can in riga and journalist fabi incredible. in beijing about the summit, i asked jennifer if putting is just signalling that he's not geopolitically isolated

or is he looking for something more substantial from the chinese liter? well the answer is he is both, he's looking for something more substantial like weapons that could aid him in the war against ukraine or as he would call it that special military operation. but also it is a symbol for the west and the russian population. that it, that russia is not geopolitically isolated. you have to understand that vladimir putin built his power on the image of being this great leader that would restore russia to his historical gory. and also a return historically assumed russian territory back to modern day russia. and this is what he started to do with a illegal annexation of crimea in 2014, which then china also didn't to condemn. and with this visit of shooting pain to moscow was still the war in ukraine going on on and not having been condemned by china. it is

a symbol for the west that china and russia can oppose western sanctions as well as russia western power fabia. what about she jean pay? what's his agenda in going to moscow? well, i think for seating thing, this visit is, 1st of all, a very delicate diplomatic balancing act. because on the one hand, yes, he wants to demonstrate friendship towards putin and it was russia. and you can, can you see that he just published an article in russian state media calling that he wants to open a new chapter in russia, china relations. and at the same time, he doesn't want to overly antagonize the west, and that will be really very difficult. but to make it clear, this trip is, 1st of all, you know, deepening ties in china, deepening title was russia and also trying to benefit from it, for example, in the form of new oil deliveries, et cetera. and it's not 1st of all about

a piece brokering as many in europe would like to hope. jennifer, these 2 leaders have a history. they've met many times. how significant is their personal relationship from putin's perspective at loose? you this sir, meeting with seating? ping will mark the 40th time both the leaders will or have met. and it can be viewed on 2 different levels. first of all, it can be viewed as a similar to a marriage of convenience because both parties don't see eye to eye on everything, but they are sure and aware that they are common goal of a multi plural world order. and the stop of expansion of the needle, especially to as the asian pacific region can only be achieved of both countries work together. and what is also important is that there's a private of friendship between heating ping and lighting, putting,

which is not. it's not really clear on what grounded was formed. it's just known that it's very strong. and also vladimir putin published an article in chinese media yesterday about their russian chinese relations, stating that he's very, very proud and happy that the relations are based on mutual trust and respect. and that they have reached an all time high this year. but also he emphasized the importance of this meeting when it comes to china, being an important trade partner as well. and that was the w jennifer pocket in riga and journalist bobby and coach in beijing. sketch up on some of the other stories making headlines around the world today. the office of homer, taiwanese president, maryan jews, says he will visit china this month. it will be the 1st time a current or former taiwanese leader has visited china since the start of communist rule. there in 1949, mainland china seas taiwan as a renegade province,

residence in the australian town of men in d. r, demanding authorities take immediate action after hundreds of thousands of dead fish were found floating in the nearby darling river. low levels of oxygen are being blamed for the mass fish dial. and montenegro is pro western president mito to canada, which has won the 1st round of that countries. presidential elections. we secure it around 35 percent of the boat with former economy minister. yeah. me and i told it coming in 2nd, the pair will face all in the 2nd round of boating in april. you it's been 20 years now since american and coalition forces have invaded iraq on a mission to topple saddam hussein's dictatorship and find weapons of mass destruction. within 3 weeks, saddam's regime had fallen, but no, stockpiles of nuclear, chemical or biological weapons were ever found. by the time u. s. troops left in 2011,

the insurgency that followed the invasion had claimed the lives of more than a 100000 iraqi civilians. while u. s. loss is reached nearly 4500. now a semblance of norm normalcy has returned, but erect still battles, a range of challenges from political instability to poverty and ramp and corruption . our next report takes a look at today's iraq shock and awe. do you rock more? started with a brush explosion, sliding up back. dad on the banks of the tigris river. by night, soon, us troops were moving into the city and they intend to topple dictator saddam hussein in a very literal way. this is that same square, 20 years later puzzling with traffic modern hotels and fountains the city is

a far cry from the war torn place that the name backed out evoked after more than a decade of sectarian violence that killed tens of thousands. but despite the relative peace of recent years, many are still troubled. when la, highly union enough sidwell, currently the situation is the same uncle brought up. there is no difference between the current regime and the previous one. he palatable temple when you want to speak or demand your rights. i confront you with weapons and killing said i hope it's no different from the previous regime at the hub level, well, with the megahertz. well, i want to assumed it iraq got rid of the tyrants. saddam hussein and the country would be in better shape, but it was one tragedy after another saddam has gone. but we got 1000 other saddam saddam oh, elephant down. but not everyone feels despair. and i'm woman, and i shall whom i li decker. i have faith that the use of the ones who come up with the idea is the use of the ones who lead the revolutions. i like him allow the

use of the foundation and the best proof of that is the protests that happened in 2019. we saw the youth laid the protests on it. that gave me a bit of hope. already had the animal with natalie on back dad still suffers from widespread poverty, despite iraq's great oil wealth before it was stolen by saddam hussein. now, the oil money still does make it into regular people's pockets. a lot of iraq is still the same and nothing has changed so that citizens hoped for something better . but there's no change that i know available. there's no more shock, you know, just a white bread feeling that things could happen and should have gone much better. warm joy now by journalists. oh and hold away. who is based in the middle east? her. oh, it iraq today is a part different place from the one american soldiers invaded in 2003. tell us how life is changed for iraqis over the past 20 years. i mean,

in terms of civil liberties they, they've obviously got more freedom in that sense. there's a lot more open discussion arm, you know, i think the real legacy though of the u. s. invasion was the sectarian in the crop system, the governance that the u. s. when he instituted after, after, after the year after the fall of the baath regime, they're essentially still living with that legacy arm. and that takes a lot of a lot of difficulties in terms of in terms of rebuilding and reconstruction. here in mosul, for instance, there has been some reconstruction. there still some very difficult issues in terms of dispersion of funds from central baghdad. arm, you know, as well as the, the overall overarching sort of desperation. i would say amongst a lot of people and particularly amongst a significant portion of the population, you simply don't have very good economic opportunities in, in, in this new, in this new iraq. what about moving forward, how the rockies see their prospects?

are they generally optimistic about the country's future? it's a mixed picture. it really does depend on who you're speaking to and way where you're speaking from. i think in general, i think the, the difficulties, particularly in northern iraq and most of where i'm at the moment they, they come through the river, see a riffing war against the islamic stay arm. you know, that was actually 5 years ago. they're still reconstructing and rebuilding against that. i think the, the general tension towards the prospect of his knowledge civil war, i think is very, very unlikely. i think they've gone down that road arm, you know, a lot really, i think will depend on if the political system can be changed. i think the real interesting movement was the circle touchscreen movement are, which were, which came in late 2020 year 19. and that protest movement was very non sectarian and called for political change. however, it didn't managed to really change the political structures. essentially, the parliamentary elections that followed were largely musical chairs about the

sheer parties taking in seats that they were caught, that they were trying to get by a non sectarian candidates elected to. i think if a rock, if iraq could move down more down that line, there would be some more, but would be potential for a more prosperous iraq and one not so paid with the demik corruption a lot really depends on changing the legal system in iraq. what are the main concerns that iraqis have right now owen? is it corruption or is it security for an interference? i think corruption is definitely the, the number one issue as security is an issue in some areas. some areas there are still icpc to sells. to do carry out spreading type, but i think the corruption which really feeds into other elements of, of the economy. the ability for longer term planning, the ability to get jobs,

the ability for, for, for, you know, to, to create businesses and various things like that is really hindered by, by the level of political corruption which already feeds into all other aspects. i think it's a, it's the rockies can address that, which i think fundamentally they really do want to. and then the movement, the touch screen movement process which was calling was very much focused corruption and corruption maybe could address that. i think a lot of the issues of iraq could be solved, but it's an extremely large hurdle to tell you the come. oh and thank you very much so as journalist oh and hold away. journalist joining us from mosul. iraq ah, administer your football and believe occurs and put a dent in biometrics, title, defense effort, shocking the host with a to one victory notion. kimmy foot by on a head in the 22nd minute. but the lead wouldn't last labor cruise and had already

leveled from the spot once, and this foul by deo mcconnell turned into another penalty is equal parcels, converting his 2nd of the day. the result does dockman to favor as they overtake by an as table leaders. after the game, yashira kimmy talked about what the, the defeat means for bye and going forward. we're not at the top anymore. and so we're, we're to work more am to give becca, we know that we have the really important games ahead, especially against normal at home. and we know now that we have to win or noun berlin. meanwhile, among the strongest bonus legacies, when playing at home stuck to that script when they hosted frankfurt, the visitors came to berlin with a good head to head record against the home side. but the eagles failed to take flight and are too near last to the berliners. o noon berlin. a fortress in the

league when plain and home were licking their wounds after their european season came to an end earlier in the week. but so did frankfort. and both sides were still looking for their 1st, but as they get, when in the month of march, things got cracking after they have time break. a look what i found moment from ronnie katira a bit of pin ball in front of ghoul in own own take the lead true to their strength and home own doubled their lead, less than 20 minutes later. the 2 tubing, barons walked for the bull, stayed with the in fired in some security for the home. sy, in the reverse fixture, it was required who got the shit out victory. this time when yawn berlin flipped

their score line and get the 2 new victory themselves, and they move up to 3rd place it stay right in champions, lee contention. so what does all this mean for the been this leak? a standing so well dormant have taken away 1st place from by and munich, as we mentioned when you own berlin move up to 3rd place, followed by fryeburg in the bottom half hoffen. heim moved from last place to 15th relegation zone is now made up of hatter, shaka and shortcut. formula one now and serrato perez has won the saudi arabian grand prix. the mexican driver held off his red bull teammate world champion max for stopping to clench his 1st victory since the monaco grand prix. last me zacko pet is was starting from paul for the 2nd consecutive

year at the genet. corney circuit passed in martin's fernando alonzo started on the front row alongside him and jumped out to a quick lead. but was penalized for being in an improper starting position. max for stop and overcame a mechanical problem and qualifying that, forced him to start 15th and quickly worked his way up the grid to finish. second, andy took the fastest lap to stay atop the f. one standings had as soon re took the lead and never relinquished it. red bull is now finished $12.00 and $3.00 consecutive races dating to last year's finale. else take a quick look at some other stories from the world of sports now in tennis. carlos al, carrasco cruised past donnie of med that had for his maiden indian wells. title,

the spanish teenage sensation one in straight sets. 6362. what's more accurate? didn't draw was set in his 6 matches the tournament with that victory, the 19 year old returned to the world number one, position in the m. b a. the utah jazz done the boston celtics after launching a spirited come back. keep one eye on a clock. now, because this remarkable game, saving blong by walker kessler just before the final buzzer, is what help seal the victory or the jacks. not sure i understood the previous to what he's in the and h l. the boston bruins beat, the minnesota wild 5 to for their 2nd straight when they would pass tonight, score his 47 goal of the campaign and his 6 in 8 games has

scored the 2nd most goals in the league this season. and 1st for canada, as they triumphed in christ church for their 1st ever sale g. p, victory, canada beat home favorites, new zealand, and season leaders, australia. despite having to overcome some dramatic moments, canada had sustained significant damage to one of their wings early in the race due to extreme weather. with a i'll spac making this historic when all the sweeter. here's what team canada had say about their heart bought victory. we've had some ups and downs and especially coming out a said nan having a great group and then he had to get away on the back of that is pretty spatial. save, almost pretty pumped on the site to get the when a new zealand that's awesome. and he has a good canadian with zeiss, sorry, zealand. you're watching g w news for we go. a reminder of our top story, this, our switzerland's biggest baggy

b us is to take over its embattled rival credit suisse at a price of more than $3000000000.00. to move aims to call the sector amid fears that an ongoing banking crisis could de stabilize the global financial system. again, you can always get the w news on the go and just download our app from google play or from the apple app store. they'll give you access to all the latest news from around the world as well as pushing notifications for any breaking up next or slides on how swimming can help children with autism. i'm terry martin. thanks for watching with

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