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 counselor was 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 going to of challenges and try and reverse this decision. this

ok, steven u b. s. wants help from the swiss government for a possible take over. do you know what's being discussed here from what we understand from those who are close the negotiations, u. b s is offered $1000000000.00 for the take over would be an all share deal. and what it means is that basically shareholders would take a significant haircut here. $1000000000.00 means about $0.27 a share. the, the business closed area shares close at about a $1.70 on friday so you can see the kind of loss the shareholders would take. they want a 6000000000 dollars and guarantees because there are a lot of open questions around the business. i mentioned the legal troubles, the credit suisse has been in that there's a lot of money, potentially outstanding, their, their legal judgments against them, if their regulatory fines coming against them. and because the swiss government wants the steel to go forward because they have their foot on the gas pedal here, it's likely that u b. s will get a better deal than not. but there probably will also be pushback from credit suisse on the

well, that's certainly way of seeing and i think u b. s certainly is 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. i mean, bear in mind then he really 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 would narrowly, when you do this kind of merger between 2 banks, you're going to take a couple of 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 positions, all those things you're going to go through when the find comb. uvs is not able to do that here. so they're basically buying this black box of stuff that they're not really sure in that they've heard some bad stuff about and they're about to find out what'

now at switzerland's biggest bank, u. b. s is in talks to take over its embattled rival credit suisse. the negotiations come on it is that an ongoing banking crisis call to stabilize the global financial system. switzerland is preparing emergency measures to take over b, as a said to be offering to buy credit suisse, which was founded in $1856.00, or over $1000000000.00. it's also report to the asking the state for assistance. the term all wasn't leased by the lapse of banks in the us from auditors. i am now joined by nicola here on the french economist hello nicola. so u b. s has offered to buy credit was for up to a $1000000000.00 or more. could have patches happened today. i don't know exactly what the sequence will be, but that looks like this will mean classes will actually start class. chris is concerned. if your b as buys it, i think i should put an end to confirm immediate concerns about european banks because credit is really a category of that. so and then with the credit situation, presumably resort, i don't see tha

a big question about what happens the people, the work at credit suisse, the g, b, s 5000 workers at credit suisse. 6200 u b. s. behind me. we know that u. b. s. wants to streamline its activities going forward. it wants to make, what was, what was left over of credits, where a little bit less risk. i'm a more risk averse rather. and whether that means cutting back jobs. well, this is still a very much a big question mark over that. but across the board, the feeling is this is averted, a major instability in the financial hearts like london and other centers across the europe as well. now, thank you very much indeed. that's me barbara talking to us from london. well, credit suisse isn't just one of switzerland's largest banks is also classified as a globally systemically important bank by the financial stability board. a managers around $1.00 trillion dollars around the world. its profits dropped significantly in 2022, falling nearly $8000000000.00 after losing $2000000000.00 in 2021. it shares have been in shop decline since 2021. they've now lost more than 95 percent of their value in the past 5 years.

no u b. s has to consume a very large bank and it has to disassemble it essentially on its own ends. credit suisse was not in the best position. it had a lot of issues that had a lot of open liabilities, especially with, especially with legal cases. so this is going to help ensure that they can digest that they can come out on the other side looking nicely. really what, what's, what's don't want to do is basically have a double barrel approach to this and say, look, you have more than enough that you need, that sends a message to market saying the liquidity is there. we're seeing something similar from the central banks all around the world right now. they release the message, the c, b, the fed, central bank in japan and switzerland saying that they would make monetary loans available to, to banks on a much easier basis to increase liquidity. this comes after time in which they've been making money, actually harder to get for many of these banks. now they're turning in the other direction sayin

b. s would offer only half of a swiss franc for each u. b. s. of reach crates, we share an annoying cash terms. but in, in an exchange for u. b. s, yes, the, i think the other really interesting thing is that the authorities in switzer push this through essentially bypassing the need to have a shareholder vote. now, there are shareholders who are not going to be very happy about this. it's a massive undertaking. there are guarantees that the swiss government is offering 1000000000. i mean, multi $1000000000.00 guarantees that should offset any more volatility in the markets. but who's to say that a whale or some whales out there might come in and try to continue church or to rock the boat for these financial institutions? yeah, we will see when the market's open on monday morning. thank you very much for planning . ah, just a day off to the international criminal court issued on arrest warrant for him or shes presently dim of putin as made a surprise visit to the russian occupied city of mary paul in ukraine. it's in the daniel screeching. it was

this was spanking john's u. b. s. as buying troubled rival credit suisse in a state bank deal to avoid market turmoil. the federal counselors convinced that u b. s take cover of credit space has laid the foundations for greatest stability, both in switzerland and internationally. ah, until mccrae, this is al jazeera alive from doha, also coming up president potent welcomes, what he calls china's constructive role and trying to in the ukraine war head of shing. ping's visit to moscow. mending ties around president will comes an invitation by the king of saudi arabia to visit viet plus. i am, pardon me with that and losses on west delaware. sharp on an onion prices has led to a huge crisis farm with lim, this on climate change and government policy. ah, this was government has persuaded u. b. s to been struggling rival credit suisse for just have a 3000000000 dollars in the latest effort to stim market turmoil that began a week ago with the collapse of silicon valley bank. and the you with the swiss national bank says it

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

and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration as opposed to take care of in almost opportunities. he spoke of the u. b. s. will remain rock solid. now, the importance of that is to try and reassure investors. accordingly, a mayor is an economist, they say in the swiss capital, she says the deal is the best possible scenario. well, i think it was the absolutely necessary and it was the best of, of very few solutions that i deal solution but hence, but it's the least best solution. um, you know, the other solutions would, would have been to let the bank grow boss which have a huge ramifications both in the global financial system and in this, with the economy as a whole lot of the financial sector and or to say, or to nationalize the bank, so this was the most elegant and the least solution. what i hope it will stem that at least the, the confidence in the few b, s. and

and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration as opposed to take care of an enormous opportunities. he spoke called that u. b. s will remain rock solid. now, the importance of that is to try and reassure investors. a russian president vladimir putin has welcomed what he calls china's constructive role in trying to end the war in ukraine. chinese president shooting thing will had the russia later on monday for today visit. she called his country's friendship with russia an all encompassing partnership. katrina, you reports from vision. she didn't being has visited russia any time since becoming chinese president. his most recent trip was in june 2019 during an economic forum. c will travel there again this week in what's expected to be a major show of chinese support from oscar as it continues its invasion of ukraine towards utah with china and russia working together.

ah, swiss banking john's, u. b. s as buying troubles rival credit suisse in the states bag deal to avoid market turmoil. the federal council is convinced that u. b. s. take cover of credit's face has laid the foundations for greatest stability, both in switzerland and international. ah, i'm told mccrae the sel 0 live from our ha also coming up. president potent welcomes, what he calls china's constructive role and trying to in the ukraine war ahead of shing ping's visit to moscow. roms president accepts an invitation by the king of saudi arabia to visit riyadh after years of hostility and gone. his government is undefined running out of vaccines as it struggles to contain a measles outbreak. ah, the swiss government has persuaded you yes to buy a struggling rival credit suisse for just over $3000000000.00. in the latest effort to stim market turmoil there began a week ago with the collapse of silicon valley bank and the us, the source national bank says it will ensure both banks have access to the necessary liquidity

and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration, as opposed to take care of enormous opportunities. he spoke off that u. b. s will remain rock solid. now, the importance of that is to try and reassure investors. well, going to racism. just one of switzerland's largest banks is also classified as a globally systemically important bank, but the financial stability board managers around $1.00 trillion dollars around the world. it's profit dropped significate in 2022, falling nearly $8000000000.00 after losing $2000000000.00 in 2021. it shares have in his shop decline since 2021. they've now lost or was 90 percent of the value in the past 5 years. investors took the money elsewhere last week when the banks mean shareholder refused to offer financial help. and after that, even a $54000000000.00 lifeline from switzerland central bank couldn't stem pessimism that has left the

the rescue of credit suisse has given way to new worries about big banks, debt. swiss banking giant u. b. s group is buying a struggling rival for $3200000000.00 and the state broker deal. it's the latest crisis to head global financial markets since the collapse of silicon valley bank in the u. s. 10 days ago, the government says the deals the best solution to restore confidence. so the sector, the bankruptcy of a global, systematically important bank would have caused irreparable economic term, oil in switzerland and throughout the world. for this reason, switzerland had to take the responsibilities beyond its own borders. these efforts have paid off the federal councillors convinced that u b. s. takeover of credit suisse has laid the foundations for greater stability, both in switzerland and internationally. ball brandon's following the story from london. it's been a really tumultuous and frantic few days in the international banking sector. pretty much, ever since weapons day when credit suisse was extended, a $54000000000.00 credit line, which it was hoped would keep the bank going. in

is operating at the fundamental problem that credit suisse had versus u. b. s. is that u b s was really badly hit in the financial crisis and it learn the lessons. it learn the lessons around. you can't go for making money at any cost. you have to have integrity, you have to have good risk management. credit suisse did not learn those lessons, and that's why since the financial crisis, credit suisse has got itself into this position. so the challenge for you, yes, is to ensure that any parts of credit suisse, which effectively enter the u. b. s. system have to be brought up to the u. the s standard for the customer. it's all about confidence in the bank and confidence for the bank customer be corporate, or the general public. i mean, do you think this buy out in general terms will settle the markets in switzerland because at the moment the market saw a tanking a little bit when it comes to this that the news is emerging now. yeah, i think, you know, fundamentally, markets have a tendency to get very, very jumpy wayne things like this are happening any form of ins

the federal counselors convinced that u b. s. takeover of credit suisse has laid the foundations for greatest stability, both in switzerland and internationally. switzerland, 2nd largest bank had been in trouble for some time, suffering scandals, public legal battles and mounting losses. these longstanding vulnerabilities were brought to the surface by the collapse of silicon valley bank anne's signature bank in the u. s. highlighting just high panicked investors are. there is hope that the financial problems were unique to credit suisse and could therefore be contained in this deal. but experts warn this may not be the case. once a large and highly connected institution, such as this runs into trouble. there is always a risk of contagion. and it may be a good idea for regulators and central bankers to try to get ahead of the problem. central banks across the globe, i faced with a potential crisis of confidence in the stability of a financial system as investors and depositors a like fear, a looming credit crunch reserve. freder

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

ready swiss bank u b. s. is buying troubled rival cities, recent estate back deal to avoid turmoil markets in asia. reacting cautiously ah, and cyril then yes, great to have you. this is l 0. live from door are also coming up today. vladimir putin welcomes what he calls shine is constructive role and trying to end of the ukraine war this ahead of shooting things visit to moscow. iran's president receives an invitation by the king of saudi arabia to visit re add after years of hostility and climate change. red alert, you and climate report do in the coming hours is set to warn the world the time is running out to the curb emissions. ah, the swiss government has persuaded u. b. s. bank to buy struggling rival kitty streets for just over $3000000000.00. this is the latest attempt to stem market turmoil. the began a week ago with the collapse of silicon valley bank in the us. the swiss national bank says it will ensure both banks have access to enough cash to make this work. finance minister of karen keller, sutt

and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration as opposed to a take care of a enormous opportunities. he spoke off on that u. b. s will remain rock solid. now, the importance of that is to try and reassure investors. ah, just a day of the international criminal court issue, an arrest warrant for him. russia's present redeemer prisoners made a surprise visit to the russian occupied city of mary paul and ukraine. since the city in the dunny, as creature was annexed by moscow last may, after being reduced to ruins in the 1st months of russia's invasion, state television and footage of fusion driving himself around several districts of the devastated city. late on saturday, though no damage was shown, visited a playground where he was briefed on reconstruction efforts by his deputy prime minister. lucian was also seen leasing, re housed residence and asking them if they li

global hon. actual system. switzerland is preparing, emergency matches to fast track approval, and u. b. s. will receive liquidity assistance from the swift state. the tomo was unleashed by the collapse of 2 u. s. banks. the humbling end of the banking icon. the swiss government hastily forced through the takeover of credit suisse by rival u. v. s. at well below market value. switzerland is fearful that a failure to protect depositors could lead to a global banking crisis. the bankruptcy of a global systematically important bank would have cost irreparable economic term oil in switzerland and throughout the world. the federal counselors convinced that u b. s. takeover of credit suisse has laid the foundations for greater stability, both in switzerland and internationally. switzerland 2nd largest bank had been in trouble for some time, suffering scoundrels, public legal battles, and mounting losses. these longstanding vulnerabilities were brought to the surface by the collapse of silicon valley bank and signature bank in the u. s. highlighting just how panicked investors are. there is hope

good to have you with us. switzerland's biggest bank u. b. s has reached the deal to take over some baffled rival credit suisse for just over $3000000000.00. the takeover. com submit fears that an ongoing banking crisis could these stabilize the global financial system, which is preparing emergency measures to fast track to take over and u. b. s. will receive liquidity, assistance from the state of turmoil, was unleashed by the class of 2 bags in the us. here's the swiss president, alamba say speaking as the deal was announced, the liquid at the 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 a takeover of credit histories by u. b. s. it is supported by the for the rights on sil following several meetings with the c national bank. we've our regulator, the fema with crazy stories, and you'll be us and pretty much can't see, welcomes the stakeholder and is supporting it by guaranteeing the framework c

the last few days, even as you just said, i mean u b. s has taken over credit suisse signature bank in the u. s. has also been taken over. i mean analysts in the space also decision makers have been saying to bank customers to investors that these were just instances of singular weak links try to convince them that this is not a greater systemic problem. and i mean, yes, what you do see, if you take a look at the docs index behind me, of course, germany's blue chip stock index is a lot of optimism since the morning bell rang this morning about building on a day of growth that we saw yesterday so, i mean, what we are seeing here, or what i should say is the fact that we're even talking about this problem with this, with bank, with these american banks, talking about it here from the german stock exchange, shows the global nature of this story. i mean, credit suisse is considered to be significant to the global financial system. so with this optimism that we're seeing in the markets today, it shows that the fire does seem to be contained, at

my rival u b. s. european indexes, continuing their gaines early tuesday, led by recovering bank stocks. questions remain, however, with some investors bothered by the details of the credits. we steal, which we'll see, bond and shareholders take big losses. the crisis began just 2 weeks ago in the u. s. of a sudden collapses of silicon valley bank and signature bank. it's christy plots, and frank for christy investor seems to have rediscovered the confidence in banks. can we say that the worst is over while there's been a lot of shuffling around going on the last few days, even as you just said, i mean u. b. s has taken over credit suisse signature bank in the u. s. has also been taken over. i mean analysts in the space also decision makers have been saying to bank customers to investors that these words are instances of singular weak links try to convince them that this is not a greater systemic problem. and i mean, yes, what you do see, if you take a look at the docs index behind me, of course, ger

yeah, off some merger between her, her credit suisse and a u. b. s. a is a kinder offer, hugged, and marriage between 2 lame dogs, of course, ah, to situation with a kid decrease, i was going badly, but u b. s. as now a longstanding aisd traits are also bad records are in banking and i'm, i don't believe that it's east kind of marriage a clue. so, in the long term, that crises for ordinary workers and communities, it essentially means that regardless of what your economy actually produces, be the cars, energy medicines are high tech services and all accounts for nothing. if a major bank fails, leaving ordinary citizens to face the catastrophic consequences of that failure, this leaves us to ask ourselves what the actual value of these vast financial institutions is to the societies they've so badly failed. while these institutions provide some payment and transaction services to their wealthy depositors and borrowers, the rest is essentially investment banking, which focuses exclusively on making money for guess who. that's right, the investment bank a

so after u. b. s seems to have doubled its offer for credit suisse from the $1000000000.00 that it was reported to have offered earlier in the week now to $2000000000.00. we have a news conference that's been cold about 1830 g m t. and we're expecting to hear the full details now, as you say, concerns about credit suisse have been going on since the middle of last week. there was a lifeline of $54000000000.00 lifeline that they asked for that didn't stop the outflow of funds. deposit says we're taking out the money at the rate of, i think in the region of a $10000000000.00 swiss francs a day. at one stage you can see how that would topple unless the bank credit suisse a big bank there. and therefore, rescuing or salvaging it is a big ask. the other thing that we know is that the 2 sites have been locked into consideration since wednesday. they want us be essentially want to get for a knock down price and also offering an all share deal. so the credit 3 shares closed on friday at about $186.00 swiss fr

first bank u. b. s. acquire its driver credit 3 in a digger supported by the country central bank and designed to over to potentially banking prices. also coming up with moscow prepared to breach. shoot in thing. lesson leaders, hope vision will put fresh owen put into and the innovation which i as president has a piece plan, but it falls short of breath on expectations. and and goodness, legal, football, liverpool, some have dev, buyer munich, that 3rd loss of the season, knocking them out of place. ah, i'm no massage as well. welcome to the program, switzerland biggest bank u. b. s. has reached a deal to take a while. it's in battle drive, we'll credit suisse for 3 and a quarter $1000000000.00. that's just for 3000000000 euros. the people will consummate, feels that an ongoing banking crisis could destabilize the global financial system . so the linda's preparing emergency measures to fast track the big over and you will be, as will receive liquidity assistance from the state. the turmoil was unleashe

and the fall in the u. b. s shares was largely down to concerns about how all of this is going to pan out in the near future. but of course, going forward, there are big concerns about what's gonna happen all the stuff for these 2 banks to some like 5000 credits, which stopped just based here in london, alone along with other banking desks across europe. 6200 stuff at u. b. s, we know we're when these banks merge, they'll be a degree of streamlining what that means for people's jobs, though is still unclear on this monday morning. the thank you very much indeed. neeve barker, bringing us up to date from london in activation is expected to restore warning on the need to tackle the climate crisis. on monday, the u. n. reports described as a textbook for addressing climate change. our environment editor nick clock explains you know, it seems almost every day we're reporting on the growing tragedy and unpredictability of climate change. this is mila away. hundreds dead. hundreds of thousands displaced. the cause. a

and we won't have that anymore off some merger between her, her credit suisse and a u. b. s or a. is it kind of off a hug? good marriage between 2 lame decks, of course, ah, to situation with sir eric decrease was going badly. but u b s, as now, a longstanding is trade off bad records in banking. and i don't believe that he's kind of marriage cool souls in the long term, the crises for ordinary workers and communities. it essentially means that regardless of what your economy actually produces, be the cars, energy, medicine or high tech services. it all counts for nothing. if a major bank fails, leaving ordinary citizens to face the catastrophic consequences of failure. this leaves us to ask ourselves what the actual value of these vast financial institutions is to the societies they've so by the failed. while these institutions provide some payment and transaction services to their wealthy depositors and borrowers, the rest is essentially investment banking, which focuses exclusively on making money for us to. that's right. the investment bank and it's shareholders who's dispropor

the federal counselors can winced that u. b. s. takeover of credit suisse has laid the foundations for greatest stability, both in switzerland and internationally. chinese prison choosing ping is said to travel to moscow on monday for a 2 day visit, rushes, president vladimir putin as welcomed what he calls china's constructive role and trying to in the ukraine war and says he has high expectations for their talks. just one day out to the international criminal court issued an arrest warrant for him, put in, made a visit to the russian occupied city of mary poland ukraine. he drove around several districts on saturday and was show and restoration work at a theatre and a university. maria pole was the focus of one of the bloodiest battles of the war. after years of hostility officials and to run say, president abraham bracy has welcomed an invitation by king solomon to visit read. earlier this month, the countries reached an agreement broken by china to reopen embassies. palestinians have been protesting in hebron and gauss, or aga

welcome to the program, switzerland's biggest bank u. b. s. has reached a deal to take over its embattled rival, credit suisse or 3 and a quarter $1000000000.00, or just about $3000000000.00 euros. a takeover comes i made fears that an ongoing bank in crisis called the stabilize the global financial system. with the land is preparing emergency measures to fast track to take over and u. b as will receive liquidity assistance from the state. the turmoil was on the east by the collapse of 2 banks in the us as a swiss press dance, allenby set, speaking as the deal was announced, the liquidity outflows, and market 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 on following several meetings with the seats national bank. we've our regulator or the fema with crazy stories and you'll be us and the pretty wide account sheet welcomes the stake over and is s

so it's allowed vegas bag u. b. s. is to take over at them bottled rival credits with the price of more than $2000000000.00. the move aims to calm the sector. i'm it vs that an ongoing banking crisis quote to stabilize the global financial assistance. and you are up to date next up. don't fall for those 3 men risking arrested to seek vailable stones in the south africa. does mon use at a tow for the odd to stay with them or flying rivers formed by hey waterfalls. perspiring trees or c evaporation during forest fires.

and the u. b. s. chairman, who is the person who is going to be helping the new entity coming out with some very strong, very reassuring quotes. saying that this was an integration as opposed to take care of enormous opportunities. he spoke off that u. b. s will remain rock solid. now the importance of that is to try and reassure investors over making price as an economist and for the u. k. government economic visor as she joined us now via skype. will this emergency deal stem a global crisis of confidence? do you think? i think it suddenly is going to pacify some of the concerns of the markets. have fed a window to see how the market's open tomorrow morning, of course. and he was really important for the space to do this deal as quickly as possible to day before and or the markets can react really. and we'll see whether they're satisfied with that deal. and it does seem to be a good solution or because certainly at the end of the week that just passed, it looked pretty unlikely that we were going to

ah, watching al jazeera, your headlines swiss banking giant u b. s. is buying troubled rival could histories for just over $3000000000.00. an estate back deal. it's hope the deal will shore up confidence in the global banking system after the collapse of 2 u. s. lenders, this was finance minister, says the agreement was necessary to provide financial stability. the bankruptcy of a global systematically important bank would have close irreparable economic term oil in switzerland and throughout the world. for this reason, switzerland had to take the responsibilities beyond its own borders. these efforts have paid off the federal counselors convinced that u b. s. takeover of credit suisse has laid the foundations for greater stability, both in switzerland and internationally. chinese president, choosing ping is said to travel to moscow on monday for a 2 day visit. russia's president vladimir putin has welcomed what he calls china's constructive role in trying to end of the ukraine war. he says he has high expectations for their talks. just one day after t

last global markets react as swiss bank u. b. s. acquires it's rival credits with switzerland central bank, fast tracks the deal, but it's designed to avert a banking crisis. and protest script the canyon capital nairobi will demonstrate, is taken to the streets over the country's cost of living price. ah, i'm glad elf is welcome to the progress chinese president. she can ping has arrived in moscow. the trip is widely seen as a show of support for russian president vladimir putin, president. she is the 1st national leader to the welcome to moscow. since the international criminal court issued an arrest warrant for vladimir putin over russia, alleged war crimes in ukraine. china has not condemn russia's full scale invasion. and with his forces struggling to make gainesville people, mister putin hopes to signal that he has a powerful ally. russia's front mining ukraine has advanced, retreated, and inched forward since it's invasion a year ago. but one thing has stayed constant european hopes that russia's biggest ally could push it t

that 6200 workers at u . b. s 5000 at credit suisse. we know that the takeover will mean some degree of a merger of that workforce, but also we gather from the chair men of e. b. s. that i will also be a degree of streamlining in swell, meaning that the future for some of these workers is up at the n me parker al jazeera london international donors have pledged more than 7500000000 dollars to help took here and syria recover from last month's devastating ask wakes european commission and sweden hosted a donor conference to help the victims rebuild their lives. the turkish presidents as the damage in his country alone has risen to more than a $104000000000.00. the quakes flattened entire cities and killed 150000 people into here and parts assyria. israel's alternation is finance minister, his sparked face backlash off the thing is no such thing as palestinian people. but the conference in paris on sunday visit a small trip claimed that palestinian people, quote, invention of the past century is comments came as talks were on the way in eg