korean appears to have been the focus of discussions of boston, but fortune saying he is ready to discuss beijing's proposal that's all from us from now. donna has been to is up next video business update. don't forget this always when you was an old web site at yahoo, dot com and on our social media chinas for hundreds. when you did it at the top, you knew. i'm no massage as well as thank you for watching. ah ah ah . in the month, oh gosh, a

time with you because i'm a cool cool b u i live but it was just me in the monroe. oh ah, ah. the more bad news in banking this time u. s. lender 1st republic struggling to survive it shares diving on monday as customers rush to withdraw their cash. j. p. morgan's has its cooking up. a rescue plan will get the view from wall street and the banking shops don't stop. you. vs swoops in to save credit suisse and a shotgun wedding overseen by the swiss government. is it bad news for investors in

both banks will speak to an expert also coming up, what happens to old car batteries? recycling can help harvest vital materials. the next generation of e commerce it's that time again dw business welcomed shares of us bank 1st republic have plunged more than 50 percent despite an earlier move by other banks to inject $30000000000.00 to keep it afloat. as and p global ratings is also downgraded the bank for a 2nd time in a week, causing investors to worry where the 1st republic can survive. it follows the collapse of silicon valley bank in new york based signature bank on the weekend fears over an ailing european bank. credit suisse were allayed after the swiss government pushed for a takeover by its competitor, u b. s. go get to credit suisse in a moment. but 1st, james sweeney is in new york. james, how did 1st republic get into this mess?

well, i could say that they were being foolish, but that's a little too broad of an answer. truth is similar to the now defunct silicon valley bank, which you mentioned 1st republic, bank deposits, mostly uninsured, about 2 thirds of them making matters even worse, according to s and p. global 1st republic also had a 111 percent loan to deposit ratio at the end of last year. that means that loaned out more money that than it has and deposits that's, that's more like i can pretty much do math. that makes no sense. that's something the 14th largest bank in the us should be doing what they did and won't silicon valley bank when under the red flags were everywhere for this bank as well. and even more interesting, several, the 1st republics, top ranking executives selling $12000000.00 in the stuck into 2 months leading up to this crisis. this is public disclose information and quite frankly, so 1st republic got into this smith done about 88 percent this month. so far, so less than stellar finances and broader worries influencing. that's what happens next with 1st republic. that's the big question and there's really no answer

yet. it's like every morning we wake up here on wall street, there's a new update on the banking sector that dictates the market direction. like today, 1st republic, down about 40 percent heading into the close. this at the receiving $30000000000.00 in deposits from 11 of the nation's largest banks last week to ease liquidity concerns. a move that was meant to lift up confidence the 1st republic. but yeah, that obviously had that happened. and today the wall street journal reported the j . p. morgan at c e o. working with others in the industry on a solution for the bank. that's all we know a solution. and what happened, the bank is still down. so if you're asking what's next for the bank, a buyout to fill your bill out. no one really knows yet and let's just find out what the headline is in tomorrow's market and probably to give you a different if not the same answer them. all right, but we've seen silicon valley bank signature bank failing. now, 1st of all, because is struggling all of the us banks going to be next. what do you, what do you seeing? well, some are and some aren't struggling obviously for us bank is giving money to 1st

republic, you know, giving us some cash to keep afloat. there's a good chance that bank giving the money is doing just fine. all i can really say is of the following, the big banks, those that are one of the 11 that gave 1st republic, 30000000000 and deposits a safe to say that they're doing. all right. it's the others, those us regional banks, banks. those are the banks that are on the radar, but today they look to be also be calling back from last week's the blotches. like pack wortham pack west. and key core seems like they don't have the same amount of red flags 1st republic hours. and that's why i can probably say for now it's limited. the 1st republic will either way we will be watching with anticipation james sweeney in york. thank you very much. thank you. our top, your marin, c a c e o, our financial consultancy, o p mass. thank you very much for joining us. i'm starting with 1st republic struggling with investor confidence. can 1st turn things around what it seems at this stage. basically the equity markets have written off 1st republic, i mean,

if you look at a stock price, the day is down almost 50 percent. that's a staggering loss after a staggering week and month of losses already. so it's basically looking as if the market written is bank off and no, there's not gonna be any recovery really. okay, well that's quite extraordinary. i'm sure am. they'll be a lot of worries there in the u. s. over that unless turned to another struggling bank moved over to europe, now credit suisse in a shock, move the swiss government, arranging a hasty takeover by competitor u. b. s. but is this a good deal? well, i suppose especially you asked who is that a good deal? i dare say the credit suisse, cheryl, the thing is a very, very bad deal. and on the site looks like a pretty good deal. they got lots of guarantees in place. they able to sue, have credit suisse for a pretty low price. so i would say for u. b. s shareholders, yes, it was like a very good deal. but for the credit suisse shareholders, it looks like a very bad deal. instead, a lot of the credit suisse trail that i think, going to be scratching the head saying wouldn't,

we've been better office if they still have not gone through. it's not possible the criticism only worth about $3000000000.00 at the end of the day. it must be worth more than that to somebody anyway, so i think they're gonna be saying this is a very bad deal indeed for us. okay, but i mean, looking at u b. s shareholders. and yes, they got managed to get a cheap price here, but they are being punished in the way because, you know, the bank has been years of discipline to work. i'm trying to sustain and strengthen its financial health. and now shareholders having this failed competitor foisted upon them. well, certainly way of seeing it, i think you've, yes, certainly has not had the time to go look through the entire credit suisse portfolio of transactions of loans, of all sorts of dubious things that they might have done. so you b as a sort of buying this site unseen. bear in mind, anybody had a weekend to go through this and agree to it. so you b. s. has been forced into this every bit as much as credit suisse as by the regulation, by the swiss government. so i think ordinarily when you do this kind of merger

between 2 banks, you're going to take a couple months to go through and do your due diligence and make sure you feel comfortable with their risk management systems. with a loan portfolio with their investment banking transactions. within the trading position, all those things you're going to go through when the find comb, u b s is not able to do that here. so they're basically buying this black box of stuff that they're not really sure when they've heard some bad stuff about. and they're about to find out what's really in there. but what's the systemic risk to the swiss economy? really significant enough for the government to bypass credits? we shareholders and to make this deal go through no matter what, after all, and credits we, shareholders have been denied even the right to scrutinize the deal to see if offers a fair price for the equity. you argument being well it could go bankrupt anyway, but for whatever parts of the bank survive, they would at least have the right to to see whether the deal is going to be it, but somewhat good for them. i agree with you 100 percent them in this case the

sales have been denied that opportunity. the u. b. s. shareholders have also been denied opportunity to vote on this kind of take over, which would be the norm way to do things. i mean, the federal counseling, which is basically made use of emergency powers within the constitution to ram this through. now i think it's very questionable whether that's actually constitutional legal under swiss law. i mean, basically those emergency powers are supposed to deal with an incoming invasion of some foreign power or something. and that's or is not the case that is designed to deal with a bank being valued at the wrong valuation and the federal council thinking it might be better off if you gave that bank to somebody else. that's not the kind of emergency those emergency powers are designed to deal with. so i think this is not going to stand up the legal challenge by necessarily i think the credit suisse channels are going to be run into the courts and say, this is not going to stand. we're gonna challenge us and try and reverse this decision. this was unconstitutional and the legal action on the part of the federal council. so this deal could still fall flat. very interesting, octavio mackenzie,

thank you very much. now to some of the other global business stories making news. natural gas prices in europe have fallen below 40 euro's per megawatt hour. that's the lowest in 18 months. analysts say the declining european gas prices is due to the warmer than usual temperatures. amazon says it's planning to cut an additional $9000.00 jobs. that comes months after it slashed its workforce by $18000.00 employees. the new round of late and for international monetary fund has approved nearly $3000000000.00 bane of sri lanka, which in facing a severe economic crisis after running out of cash reserve at all assets of comic folks organ be frozen within the country. a russian car maker filed a lawsuit against v w after the german group ended its corporation with them in august. the company puts the damages at the equivalent of a 194000000 euros continent. the words of european commission vice president valdez

dombrowski. recently, the you get close to all its lithium and magnesium from china, critical materials for the likes of batteries and solar panels. it's for that reason that the e u per showing how it's done. the liquid lithium bubbles in the mixing machine. then that settles as a whitish paste on the bottom of the glass tube surrounded by a green oily layer, the nickel in this lab, south of paris, french mining company. if a man is testing separated metals that come from used electric car batteries, we'll clean it. uh, take a small electric cars. it contains 30 kilos of nickel, almost the same amount and lithium carbonate. these are metals that need to be recycled to be able to support the industry and produce new batteries a little bit better. after a series of filtering, seething and cleaning substances like nickel cobalt and lithium,

carbonate are extracted all to be used again in the production of new batteries. unlike the fuel consumed by internal combustion engines, these materials are up to 95 percent recyclable. the global demand for di carbon ization means we're cycling as a worthwhile endeavor. one that will likely expand it and i'm met plans to process around $50000.00 metric tons of battery modules per year, starting in 2027 pioneering a very different future for mining companies. and the quick reminder of our top story before we go shows of u. s. bank 1st republic of plunge more than 50 percent, despite an earlier move by the banks to inject $30000000000.00 to keep it afloat. and you're up to date with a d w business for more check out our website, d, w dot com slash business and rule. so on youtube, under the dw news channel, thank you very much for watching.

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