the few shall fall contrasts all the people thought behind the past. they knew for their mission. people need to know what is happening in our series guardians of truth watch now on youtube, d. w documentary ah ah, this is d w. news coming to you live from berlin, sold for more than $3000000000.00. swiss bank u. b. s. acquires it's rival credit suisse and a deal backed by the country central bank. it's designed to avert a potential banking crisis, but stock market suggest more uncertainty. also coming up chinese pres, she gin,

paying is on his way to moscow for talk to with russian president vladimir putin. she wants china to be seen as a peacemaker. chuck russia is hoping for support for its war against ukraine and buddhist lincoln football labor cruising deal by in munich. their 3rd loss of the season, knocking them out of 1st place. ah hello, i'm terry martin. thanks for joining us. switzerland's biggest bank u. b. s. has reached the deal to take over its embattled rival credit suisse for just over $3000000000.00. european shares bell sharply on monday despite the news with several major european banks declining by close to 10 percent. take over comes amid fears that an ongoing banking crisis could de stabilize the global finance

system, such which one is preparing emergency measures to fast track to take over and u. b. s will receive liquidity assistance from state. the turmoil was unleashed by the collapse of 2 banks in the us. the responsibilities here, switzerland, president alon burst, say, speaking as the deal was announced, the liquidity outflows and markets volatility shows that it was no longer possible to restore the necessary confidence. and the swift and stabilizing solution was absolutely necessary. and the solution is the takeover of crazy stories by u. b. s. it is supported by the for the rise until following several meetings with the states national bank. we've our regulator or the fema with credit series and you'll be us and pretty wide account. she welcomes the stakeholder and is supporting it by guaranteeing the framework conditions necessary for its success.

steven beardsley from d. w a business is here to break this down for us safe, forced takeover of switch. one second biggest bang come power investors reacting? was he mentioned really already many european banks are taking it on the chin right now. we've seen the u. b. s. which of course is taking over credit suisse. they're down deutscher, bank and tases apollo. so the major banks in switzerland, germany, italy, all down at the beginning of trading. investors right now are trying to understand sort of the new reality of where they stand and they're a little bit anxious. there are 2 things that really stand out. one is the scale of this deals. you said $3200000000.00 to the largest banks in the world. but also some of the details behind this deal. and that is the shareholders really took a major loss because of it. they weren't even allowed to vote on it. also that there was a certain class of bonds that are completely wiped out. so investors in those bonds not only in the credit suisse versions of those bonds, but the similar bonds that are there elsewhere with other banks. they're taking a look around right now, and they're getting

a little nervous. and so that is really what's going on right now. not to mention it in the u. s, they're still unfinished business with another bank, their 1st republic. so that could also add to the jitters later. put this takeover in perspective for us. how big of a deal is it a huge deal shocking. it's one of these are 2 of the largest banks. i'm in the world. credit suisse was one of those. and this deal, $3200000000.00, a kind of shot gun wedding that really happened so much urgency that's, that's one of the things that was really transit, $3200000000.00. a for bank that on friday was valued at $8000000000.00. so you really see how regulators wanted to push this through and there were 2 reasons. one, because this effect of the swiss economy, there are a lot of employees of these banks. they wanted those assets to remain in the country and be disassembled by another swiss bank. but also because of the overall global, meaning there's a lot of pressure for them to wrap this up before markets open. so urgency, urgency, urgency was behind us and the markets are reading that as well. you mentioned urgency, well people around world of very concerned about the global financial system as

a whole. steve, how what, what could we to make this? can we see a meltdown coming? that's a lot of comparisons. you hear some comparisons, 2008. when there was a major, a financial meltdown, and in that time there was, there was a problem that there was a, an entire class of asset that turned out to be utterly worthless. and on top of which was built this entire edifice of investment. so once that asset was kicked out of the way, everything sort of collapse you talking about the sub prime mores. alexander mortgage is bundled debt obligations. in this case, the underlying assets are fundamentally sound assets. they're just the value they fallen in value because of the fast rate of interest rate hikes. and so people are reacting to that investors are reacting that and sometimes there's an overreaction . there's a psychological aspect of this so that even banks that are fundamentally sound there can be something that starts to take place with a bank run. if there's a suggestion of a bank run than others may participate, shareholders may punish it. and so it's stopping that that's going to be urgent and

that's why there's so much significance right now around messaging from regulators . how they message, when they message, how do you provide that reassurance? is it liquidity? is it guaranteeing more deposit? these are the questions that are going to come up in the weeks ahead. see, thank you very much. stephen beardsley from the w. a business now chinese present she's in pay 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 before its own peace plan, but has failed to condemn russia's invasion. on the eve of the visit, putin said relations between the crew. 2 countries had reached new heights. russia's front line in ukraine 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 end the destruction for our ve. croce

ship kate. that is important for us that china does not choose russia aside. renewable, we expect china to fully use its influence on russia to bring russia to respect international law. it was done as soon as 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 at 12 point piece played for the ukraine conflict that was widely condemned by the west who for not making specific demands on russia. who could, indeed, beijing looks reluctant to clip russia's wings before russia invaded ukraine. both president, g and fulton declared and 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 way. 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 the 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's no evidence of that happening on a wide scale yet. china has taken on and increasingly combat of posture towards the us hope i'm believe that as moscow's troops struggle on and 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 pocket in riga and journalist bobby and kuzma in beijing. about the

summit. 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 is that russia is now geopolitically isolated. you have to understand bad. vladimir putin built his power on the image of being this great leader that would restore russia to is 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 sheeting 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, jane pay? what his agenda in going to moscow? well, i think for seating thing this visit this, 1st of all, a very delicate diplomatic balancing act, because on the one hand, yes, he wants to demonstrate friendship towards putting into twist russia. and you can clearly 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 antagonized 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 putins perspective? at least he this say meeting was teaching, ping will mark the 40th time. both the leaders will or i 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 you 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 nato especially to as the asian pacific region can only be achieved of both countries work together. and what is also important is that there is

a private. a of friendship between teaching ping and vladimir putin, which is not it's not really clear on what grounded was formed is just knowing 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 util, 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 database, jennifer parker in riga and journalist, probably on christopher in beijing, catch up on small the stories making headlines, round world today, protest her group b. kenyan capital nairobi with demonstrators taking to the streets over the country's cost of living christ. ryan police are out in force. countries opposition leader called for the protests to go ahead. he claims last year's closely fought

presidential election, was fraudulent. south africa is braced for mass protests on monday after a left wing party called for a national shut down country's economic freedom fighters party is demanding the resignation of president cyril remo poser, or what they say is economic mismanagement, violence or fight protests in 2021 lead more than 350 deaths 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 masturbation dial. ah, a modestly football labour cousin put a dent and by an unix title defense effort, shocking the host where the 21 victory were kimmy put by on the head in the 22nd minute. but the lead would not last labor cousin had already levelled from the spot

once. and this foul by deal by my dental mechanical turns into another penalty is equal. platt seals, converting his 2nd of the day result does dormant a favor as they overtake by an as table leaders. after the game, joshua commission talked about what the defeat means for brian going forward. we're not at the top anymore. and so we're, we're to work more am to give back. we know that we have the really important games ahead, especially against all of that home and we know that we have to win. so what is all this mean for the bonus le standings? while dockman have taken away 1st place from by and munich, when you own berlin, move up to 3rd place followed by fryeburg in the bottom half off in high move from last place to 15th, the relegation. zone is now made up of how to shatka and should kept a 1st for canada as they triumphed in christ church for their 1st ever sale gp

victory canada beat home favorites, new zealand to an season leaders, australia. despite having to overcome some dramatic moments, canada had sustained significant damage to one of their wings earlier in the race due to extreme weather. and they bounce back, making this historic, when all the sweeter. you're watching the w news upped extra. got a documentary for you following 3 men as they desperately search for diamonds in south africa. i'm terry martin. thanks for watching with with any issues or thoughts they will grade. he will be.