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corporations. what can we do for you? >> and now, "bbc world news." >> welcome. the headlines this hour -- shares rally as five of the world's leading central banks take action to try and ease worries about the eurozone. a city trader is arrested in london after the swiss bank, u.b.s., loses $2 billion. the situation in syria is too volatile. the life to have lady. the new film that focuses on struggles. it is 11:00 a.m. in singapore. this is "news day."

>> asian stock markets are the latest to have risen sharply in response the coordinated action by central banks. five of the world's leading banks are taking coordinated action to try help the financial system. they are offering new loans to commercial banks to help ease funding pressures. this report from our europe editor. >> on a day of gloomy forecasts, a concerted move by the world's most powerful central banks, short-term loans are going to be made available to commercial banks. there have been growing concerns that banks were stopping lending to each other because of fears they might face losses in the eurozone. in greece, there were more

protests against the austerity demanded by europe's leaders in exchange for a further bailout. this on a day when the eurozone was told that growth was expected to come to a virtual standstill by the end of the year. there was a warning that a combination of weak growth and high debts was leading to a dangerous loss of confidence. >> this vicious cycle is gaining momentum and, frankly, it has been exacerbated by policy, political lack of resolve. >> greece remains at the heart of the crisis. so far, a bailout and austerity measures have not worked. greece's debts have soared to 350 billion euros, and the economy is expected to shrink by 5% this year. the country needs a further 8 billion euros by mid-october to survive. with no growth, it is hard to see how the country can avoid defaulting sooner or later. italy is the other big concern.

this was central rome yesterday after austerity cuts were adopted there. the problem with italy is that its debts are so big it can't be rescued. this weekend, the americans will suggest to the europeans that they borrow against their main bailout fund to give them greater resources if italy needs help. >> we're having plenty of reassurance, but there aren't enough plans being put in place. >> in greece, they were cleaning up their vandalized central bank, but elsewhere, the world's central bank signaled they were prepared to work together to help struggling banks, and the markets judged that as a positive step. gavin hewitt, bbc news. >> the concerted effort by banks helped boost shares in the u.s. and europe and are doing likewise here in asia. the nikkei extending gains, up almost 2%.

gains in korea's kospi as well is well over 3% and also gains in hong kong and australia. stocks on wall street rising, the fourth day they've done so on relief that credit markets will free up and companies and consumers would start spending again. and the in currency market, the movement, euro surged more than 1% against the dollar and the yen, and it's holding on to those gains. swiss banking giant u.b.s. says it may have lost around $2 billion because of unauthorized trading by but its traders in its investment bank. kweku adoboli was arrested in london on suspicion of fraud. shares of u.b.s. fell by nearly 11%, and the company warned it could make a loss in the third quarter of this year. our business editor has the story. >> wayne kreklow, a new entrant into the banker's hall of fame or should that be hall of shame?

a trader from u.b.s. is alleged to have racked up unauthorized losses of 1.3 billion pounds. hours after u.b.s. uncovered the eye-watering loss, mr. adoboli was arrested. >> at 1:00 a.m. this morning, the city of london police were contacted by u.b.s. about an allegation of fraud by one of their employees. and at 3:30 a.m., detectives from air force arrested the 31-year-old man on suspicion of fraud because abuse of position. here at u.b.s., this sprawling network of offices in the heart of the city of london is where the alleged rogue trader worked. his colossal losses are likely to tip this giant bankbook into losses. for the latest three-month period, it's not the money, but the embarrassment that is likely to prove most painful, because this is a bank that after the great crash of 2008 claims it was taking much, much less risk. u.b.s. was among the banks last -- worst hurt by the crisis, incurring

losses of more than 35 billion pounds. bailed out by the swiss government, it changed its management and the way it does business. so what went wrong? >> you can put in these technological systems that limit how much people can trade, but in the end, the problem is, if you're employing intelligent people and they want to get around these systems, there is a chance they will find a way. that is why what's needed is a moral compass from the top of the organization. >> so if it turns out that kweku adoboli is a big-time rogue trader, how would his loss of 1.3 billion pounds rank against other rogue traders? the biggest loss ever was racked up in 2008 by the french dealer jerome kerviel of societe generale. that's rather more than the 827 million pound loss of britain's most famous rogue trader, who destroyed the venerable bank. after jerome kerviel was arrested in france, there was pressure on banks to tighten up their scrutiny of traders. so, if that hasn't worked, what might?

>> unless you separate out that wild west casino operation from the world of banking and have it by ordinary men and women in the high street and ordinary businesses, we're in real trouble, and that's what the banking commission proposed earlier this week, and that's why we've got to implement that report as fast as possible. >> this is how u.b.s. likes to see itself, a virtuoso in the global world of banking. it's been humiliated by the alleged attempt to forge a solo career by one of its bankers. bbc news. >> a fresh warning for u.s. citizens from washington. >> absolutely right. the u.s. government has urged americans to leave syria immediately saying the situation there is too volatile. it is six months since the protests for democracy began and the u.n. secretary general has made a public fee for the afghan government to stop the violence

against its people. a new national council has been set up to push for change. >> this time they say they have the backing of all of those trying to bring down president assad. >> activists, technocrats agreed to form the syrian national council. our doors are open to all. we aim to bring down regime by legitimate means. >> unlike previous efforts they say this council will be led by those inside syria. these are pictures of what is reported to be the most recent protests in hama.

the autothen tissity of these pictures cannot bb verified. the u.n. secretary general has pleaded with president assad for restraint. >> for six months we have seen escalating violence and pressure. he has repeatedly pledged to do so and to carry out reforms consistent with the aspirations of his people. once again, i urge him to keep his word. >> this week the turkish prime minister renewed his attack on egypt. he has put his country behind the reform movement in syria. the opposition also now has a base just over the border.

>> denmark has elected its first female prime minister. they have promised to end some of the rules of the predecessor. she is set to become the next prime minister and the first woman to hold the post in denmark after defeating the liberal prime minister. >> there have been hard times and we struggled but tonight we shown v shown that the social democrats are a big force holding up society. >> the economies dominated

campaigning with helle thorning smith. >> denmark will get a new social democratic prime minister. denmark will get a new prime minister. >> as the election results became clear, mr. rasmussen acknowledged they had lost their long hold on power. he said he telephoned mrs. thorning-schmidt to congratulate her. she vowed as prime minister, she will roll back some of denmark's tough immigration laws. it means the end of an era in which the government has to rely

on the vote of the right wing pop list danish people's party which tightens border controls. >> you're watching "news day." still to come on program. drone attack. the u.s. military said it believes it killed the head of al qaeda's operations in pakistan. >> near benghazi, a welcome to western visitors since gaddafi's downfall. >> rescue teams in south wales are still trying to reach four miners trapped near nearly 300 feet below ground in the swansi valley. it's thought the men became trapped in a section of the mine. our correspondent, jordan davis, is at the scene with the latest. >> ambulances.

search and rescue, four-by-fours. heavy duty vehicles with pumping machinery. brought in from across the border from gloucester to try to remove this water that filled the mine. these four men have been trapped in the mine for 18 hours now. i understand someone is being brought in from london with special listen-in equipment. these miners have been trained make a noise and the hope is they have made their way to higher grounds. as the water that is filled the shaft and the undulating ground has blocked their exits. really every effort is being made to remove the water. i spent some time down in the community center and i think is community is the operative word. this is where the families have

been based all day. the red cross have been there with foods parcels. local people have brought in cake, biscuits and a lot of baking kids in south wales. it really is impressive. >> jordan davis there. we actually had an update because divers who entered the mine have now been forced to return above ground. they had hoped they could assess the situation before the water was pumped out. the debris left the water too murky so they have now left. you're watching bbc news. >> this is bbc news day. >> our headlines this hour. stock markets around the world have risen sharply on the prospect of coordinated action

by central banks to help world financial systems. u.b.s. says it may have lost around $2 billion because of unauthorized trading by one up of its traders in its -- one of its traders in its investment bank. the u.s. military says it believes it has killed the head of al qaeda's operations in pakistan. a missile apparently fired from a zrone thought to have set a saudi national living near the border of afghanistan. they have captured two men in kabul earlier this week. one is seth said to be a member of the pakistan-based hakani network. i spoke to jeffrey from washington's institute.

>> the chief of their pakistan, the former bodyguard of bin laden and also a close associate of the other top al qaeda leadership, so certainly it's significant, put we have to put it in perspective, which is that it's simply another one of these high-profile killer captures that will degrade al qaeda over time. but i think there's still a long way to go. >> his death along with osama bin laden's earlier this year seems to suggest the american military is making progress in the so-called war against terror. what has changed from before? is it better intelligence perhaps? >> well, there is a number of things. number one, a true presence on the ground helps generate intelligence that is used to go after these guys. there has been an increase in intelligence surveillance and reconnaissance assets in the region. also an increase in special forces in the region as well as the kaye presence. all of this -- as well as the c.i.a. presence.

i think we'll continue to see that going forward but as we have sfreen al qaeda and other groups in the past 10 years, they are resilient, it is going to take a sustained effort to really deprathe grade these networks. >> more than 2 million people are suffering from diseases linked to flooding because of the torrential rain. hundreds of villages have disappeared and some areas of pakistan will remain flooded for at least six months. >> british prime minister david cameron and the french

president, nicolas sarkozy, received hero's welcomes when they flew into libya on thursday to talk with the country's new acting government. they promised to help finish the job of bringing peace to the country and said the nato mission would continue until pro-gaddafi forces had been defeated. our correspondent, andrew harding, reports. >> it's not quite mission accomplished, but the leaders arrived here today and tried to celebrate. >> a very good day for us. we are very proud to be here. >> britain played a role which i'm very proud of, but in the end, this is what the libyans did themselves, and i want to con great them and work out how to help them as they rebuild their country. >> a helicopter ride into the heart of tripoli, the tightest security and the country still at war with colonel gaddafi's dwindling band of loyalists. >> the adulation here. it's genuine. without nato air support, they

know their unlikely revolution would have stumbled. >> are you getting everything you need here? >> some of the injured will now come to british hospitals, part of a much bigger plan to nudge oil-rich libya. on the streets of tripoli, they're still keen for outside help. >> it's not from england and france, it is all the world to help us. >> it's from the beginning, and i hope they continue helping us until we get to normal. >> it's seven years now since tony blair first came here to try to bring colonel gaddafi in from the cold. today david cameron is visiting

what feels like a completely different country. there's still plenty of political instability. but in many ways, this is a country that is stabilizing every day. >> what i see is impressive. this is people who want to take the lead, sort out their country. it is very important that we help them rather than try and lecture them. >> swapping gifts with the libyan team now trying to fill the political vacuum. there were strong hints that britain and france might be rewarded with oil contracts by a grateful nation. mr. sarkozy insisted there was no hidden agenda, and mr. cameron stressed that libya's war is not over. >> this work isn't finished yet. there are still parts of libya under gaddafi control, and the message i think to gaddafi and all those still holding arms on his behalf is it is over. give up. the mercenaries should go home. >> no sign of that, though.

fighting today intensifying around gaddafi's hometown. his loyalists could still destabilize libya. and yet, in benghazi this afternoon, it felt like a victory parade. >> colonel gaddafi said he would hunt you down like rats, but you showed the courage of lions, and we salute your courage. >> benghazi! >> a triumphant moment in libya's messy end game. andrew harding, bbc news, tripoli. >> america's new envoy to burma, david mitchell, has said there are signs of progress in burmese politics.

>> nothing can quite match the excitement when she made her first appearance at her home in burma last november after being released from house arrest. now french director better known for action pictures has captured some of the drama in her life in the film called "the lady" with about ress michelle yeoh portraying her. >> i hope it will raise more awareness. she has always been the hope, the shining light to all of these people who still look up to her and believe that they should have freedom. they should be able to enjoy the basic human rights that we all do. >> she was under house arrest in burma for a total of almost 15

years. the film does cover political developments. they decided to concentrate more on lesser known aspects of her private life. >> i could see there was a window of emotion. i had to basically go and approach close friends and family and try and persuade them to talk and to share the story that i realize hasn't been told before. >> michelle yeoh met her last december and tried to visit burma again in june but was turned away at the airport. she has not yet seen this film. i think it will be a very hard movie for her to watch. when i saw the film last night, i hope she will see it one day. >> the film won't be in cinemas

for several weeks. some critics haven't been overly impressed. they described it as pedestrian, long. it may be tough for this movie to make head way at the box office. it did secure a significant distribution deal in toronto. michelle yeoh thinks critics are missing the point. >> how do you go against a film that is fighting for something that is inherently for us, freedom. a person that is still very much doing that. >> however the film fares, michelle yeoh has no regrets. she said it has been the role of a lifetime. >> now here is some remarkable footage of a close call that could have ended in tragedy. this is a bike shop in orange county in california. without any warning, you see car crashed straight through the

window. barely missed customers who just managed to get out of the way. three people were hurt in all of this. according to police, the 86-year-old driver of the car told them she had hit the accelerate instead of the brake while trying to park. such a close call. remarkable. >> you have been watching "news day" from the bbc. a quick reminder of our main news. that is that asian stock markets have risen sharply in response to the prospect of coordinated action by five of the world's leading central banks to tackle the euro-zone crisis. five including the u.s. federal reserve and the bank of england are taking coordinated action to try to help the financial system. much more of course on our website, thank you very much for

watching bbc "news day". >> make sense of international news at bbc.com/news. >> funding was made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. and union bank.

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