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 that there should be much contagion or any u. b. s. one's help

u. b. s. credit suisse agreement was necessary to provide financial stability across the globe. the bankruptcy of a global systematically important bank would have cross 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 shing pang is said to travel to moscow on monday for to day visit rushes president, let him in. person has welcomed what he calls china's constructive role and trying to in the ukraine war and says he has high expectations for the talks. which is one day after the international criminal court issued an arrest warrant for him to have made a visit to the russian occupied city of maria, poland ukraine. he drove around several districts on saturday and was shown restoration work at a theatre and the university maria pole was the focus of one of the bloodiest

however, 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.

u. b. s credits versus one of fairbanks around the world. consider that too big to fail. how worried should we be about another global financial crisis like what happened in 2008? i don't think we have to be worried about that at the moment. it is unclear to me as a situation i credit you have anything to do with the tro mornings or your where i think it was just an a timing issue, allow me but this report budget of you see the orders of chris was not trigger it on the face of it by some problems that come valley bank, answer us banking sector. so it was 2 separate problem occurring at the same time. mike, i was under us problem. i'd be not you resort we can discuss if it has been resolved well, but it's not going to figure more contagion. and this was problem. i don't think you put a trigger contagion either. ok, good to know friends economists, nikolai there on. thank you. thanks for having the powerful escalate. head south in ecuador and northern to ruin saturday, killing at least 15 people and leave in about 350 injured though. destroyed buildings crossed vehicles tha

i dare say the credit suisse shareholders think it's a very, very bad deal. and on the u. b. s side looks like a pretty good deal. they've 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 be scratching the head saying wouldn't, we've been better office if they still have not gone through. it's not possible criticisms any 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 going to 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 cheap price here, but they are being punished in the way because, you know, the bank has been years of discipline to work on trying to sustain and strengthen its financial health. and now shareholders having this failed competitor foisted upon them. well, c

u. b. s. credit suisse agreement was necessary for global financial stability. the bankruptcy of a global systematically important bank would have cost irreparable economic term oil in switzerland and throughout the world. for this reason, switzerland, how to take the responsibilities beyond its own borders. these efforts have paid off. the federal council is convinced that u b. s. takeover of credit suisse has laid the foundations for greater stability, both in switzerland and internationally. chinese presidents using being is traveling to moscow for a 2 day visit. russian president vladimir putin has welcomed what he calls china's constructive role in trying to end of the ukraine war and says he has high expectations for their talks. just one day after the international criminal court issued an arrest warrant for him, put in, made a visit to the russian occupied city of mario pole in ukraine. he drove around several districts and was shown restoration work at a theatre. and a university mario pole was the focus of one of the bloodiest battles of the war. so fa

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 to underpin the deal. soon after the swiss announcement, the u. s. federal reserve europ

u b. s. acquires it's rival credit suisse, switzerland central bank, fast tracks of deal designed to avert potential banking crisis. will hear from a finance expert in this hour as the format can also on the program. chinese president gigi and paying as in moscow for talks with russian president vladimir putin, china wants to be seen as a peacemaker in ukraine, as russia hopes or support for its war. i'm fil gale. welcome to the program. switzerland's biggest back u. b. s. has reached a deal to take over its embattled rival, credit suisse of takeover was arranged quickly over the weekend. i made fears that the banking crisis could div stabilized the global financial system. so it's linda is preparing emergency measures to fast track approvals. and you be asked will receive liquidity assistance from the swiss state. the turbo was unleashed by the collapse of 2 u. s. backs. the humbling end of the banking icon. the swiss government hastily forced through the takeover of credit suisse by rival ye, the s at well below market value of switzerland is fearful that a failure to protect depositors

u. s. federal reserve, another central banks have launched a coordinated effort to keep dollars flowing through the global banking system as follows. a swiss government by takeover of credit suisse bytes main wyvil, u b. s. credit suisse managers around $1.00 trillion dollars around the world. it's profit dropped significantly in 2022, falling nearly $8000000000.00 after losing $2000000000.00 in 2021. it's chairs have been in shop decline since 2021. they've now lost more than 95 percent of their value in the past 5 years. investors took their money elsewhere last week when the banks mean shareholder refuse to offer a financial help. after that even a $54000000000.00 lifeline from sicily and central bank couldn't stand pessimism. and that left the buyout solution one c b s. acquires credit suisse. it will have access to more than 5 trillion dollars in assets. well, chris grabber kit is a bank leadership expert. he explains what the major means for swiss and international customers. obviously, uvs credit suisse. they have investment banking arms across the world, wealth management for ultra reach individuals across the world asset management across the world. so in those areas, there isn't a monopoly

u b. s. and that is not good, it's good to have competition and we won't have that anymore. 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

u b. s, and credit suisse, or allegedly helping russian oligarchs. evade sanctions? the 2 lenders fe significant binds if the justice department finds evidence against them. us authorities began investigations before the beginning of the recent banking crisis, which saw u. b. s agree to take over credit suisse. germany is bracing for severe transport delays and disruptions on monday. the country's 2 major trade unions verde and e v g have announced a nationwide public transport strike. verde is now demanding a more than 10 percent pay raise for public sector workers. a chat, g p t being bar, just some of the most prominent consumer facing ai applications out there. but how do they get so advance? well, there's a learning process and that takes constant feeding of the information. and that work often tedious, is done far away from silicon valley, and it's created a small industry of its own. take a look. rashni is one of some, 200 women who work at this data center in southern india. the 25 year olds job as a data worker and bob's feeding algorithms with new informati

u. b. s. and credit suisse for allegedly helping russian oligarchy. evade sanctions to lenders a significant finds if the justice department finds evidence against them, you are so authorities began investigations before the beginning of the banking crisis or u. b. s. agreed to take over credits or staying in the war to finance the world's biggest crypto exchange binds, paused trading on friday due to a technical glitch. teddy australia has got more on this for us from wall street. teddy. what were wrong? that's right. by nance, the world's largest crypto currency exchange appears to have suffered a glitch. so finance halted all trading for 2 hours. that also includes deposits and withdrawals. now you may be thinking, well, there's a lot of phone key business in the crypt overs right. we see a lot of glitches, but finance is a really important institution in the crypt overs. it's huge and it's even larger after the collapse of f t x last year. that is the crypto currency exchange of the now disgrace sam

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

u b. s credit suisse managers around $1.00 trillion dollars around the world. as profits dropped significantly in 2022, falling nearly $8000000000.00 after losing $2000000000.00 in 2021. it shares has been in shock, declined since 2021. they've now lost more than 95 percent of their value in the past 5 years. now vodka is in london, he explains the market reaction in europe. the fading here in the british capital that we may have averted the worst of a financial crisis of the like, not seen in 2008 as a result of what's happened to credit suisse. but at the same time, although the markets seem to have come slightly, there have been some changes across europe as reflected in a turbulent share price for the european central bank. also, unsurprisingly, the shap prices of bush as a credit suisse fell by 62 percent. the biggest in its history, although many financial experts believe the markets was simply adjusting to what they believe was u. b. s. is real valuation of the shares, never less you be. i suffered a tank in it shares as well of 12 percent. the problem i

. $2000000000.00 take over a swiss banking giant credit suisse by 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. the u. s . of the sudden collapses of silicon valley bank and signature bank go to christy plots, and frank for christy. investors seem to have rediscovered their confidence in banks. can we say that the worst is over? well, 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 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

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 will ensure both banks have access to the necessary liquidity to underpin the deal.

u. b. s reached a deal to take over its battled rival credit suisse. the swiss government is preparing emergency measures to fast track the approval. there have been fears that the crisis could destabilize the global financial system after the collapse of 2 banks in the us. the humbling end of the banking icon. this, we've gotten it hastily forced through the takeover at 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 thing would have cross irreparable economic term oil in fritz island and throughout the world. the federal council is convinced that u b. s. take cover of credits with has lay the foundation for greater stability, both in switzerland and internationally, switzerland. second 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 b

u. b. s is in talks to take over its embattled rival credit suisse. the negotiate negotiations come meet fee is an ongoing banking crisis, could de stabilize the global financial system. switzerland is preparing emergency measures to fast track the tank over u. b. s. is reportedly asking the state for $6000000000.00 to cover the cost of purchasing credit suisse, which was founded in $1856.00. the turmoil was unleashed by the collapse of 2 banks in the united states. well seasoned bids lay from dw business is here to break this all down for me. hi, steven. now, media report say u b. s is offered to buy credits with rapture $1000000000.00. what's the likelihood of a deal today, and would this help com markets tomorrow? it's hard to know what the likelihood of a deal is today without being inside the negotiations are very, very close to them. we know that the swiss government is likely to want a deal today. however, it's probably going to be putting pressure on regulators and on u. b. s. to make this deal happen. and that's because it doesn't want an unce

and the solution is a takeover of credit histories by u. b. s. it is supported by the for the rights on still following several meetings with the 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 conditions necessary for its success. joining us in the studio is steve bears les from d. w. business save up, forced 3000000000 euro takeover of which one the 2nd largest banks with regulators wanted to have this deal in place before markets open. how are investors responding to tell you what we can say so far? looking at asian markets, which have been open for a while now that they're still sort of unsure, they're still trying to find their footing and figure out what's going on. in the case of hong kong, we've seen a definite slide because there's a fear that there is exposure to some of these bonds that were wiped out completely in the steel. other markets in asia, like i said, still trying to find their footing. euro

u b. s. is buying out troubled credit suisse in a $3000000000.00 deal. the combined groups can manage more than 5 trillion dollars worth of assets. chinese president, she's in things on his way to moscow for to day visits. russian president vladimir putin as welcome what he called beijing's constructive role in trying to end the war in ukraine officials and her grand se iranian presidents abraham races, welcomed an invitation to visit via by saudi arabia. as king salma regional rivals have also announced plans for a meeting between our foreign ministers. one of south africa's opposition parties, the economic freedom fighters is calling for the national shut down and mass protests. it says it wants the president to be removed on rolling power outages to end the board, who's warning businesses to close. all risk being looted security's been tightened . the government buildings on the armies being deployed, or from honest, we're going to bring in ha, tomato, from portfolio. how. what did the organizers of the march hope to achieve this? well, this is why sh

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 tur

now to us that are linds largest banks, credit suisse, and u. b. s. are reportedly considering a merger that could be a catalyst for an overhaul of the global financial system. a sharp drop in credits with shares this week raised further concerns across european financial markets with a slump and major indexes. the banking sector was down by 13 percent. this week, as spiraling fears dragged down, the biggest banks across the board strategist at goldman sachs, predicted the sector would remain under pressure unless a more forceful policy response is administered. yes, mark is are also power in through the crisis with banks being propped up with another $100000000000.00 bail out by the federal reserve, the treasury and other financial institutions. he recent study said that more than $180.00 us banks are in danger of collapse due to uninsured deposits, while the government's cash has helped prevent a complete meltdown. the fed failure to disclose all the banks receiving the aid has caused rumors to several many market watchers have express fears of a pos

credit suisse up to the standard that u. b. s. 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 tend

u. b. s. is buying a troubled credit suisse and $3000000000.00 deal. the combined groups can manage more than $5000000.00, both of assets, chinese president, changing things on his way to moscow for to day visit. russian president vladimir putin is welcomed, what he called beijing's constructive role and trying to end the war in ukraine. officials in toronto say you're running a president abraham of icing as welcome to an invitation to visit 3 out by saudi arabia's. can salma sanctions have long been hired during the original bible? so ron broke off ties in 2016, one of south africa's opposition parties that economic freedom fighters is calling for a national shutdown and mass protests. it says it wants the president to be removed on bowling power outages to end the parties, warning businesses to close or risk be looted securities be tied into government buildings in the army has been deployed mo, from on this, we're going to bring in hot in the tulsa from pretoria, what are the organizers of the march hoping to achieve high? oh, we cannot just a count

u b. s has offered to buy credits with rupture $1000000000.00. what's the likelihood of a deal today? and would this help com markets tomorrow? it's hard to know what the likelihood of a deal is to do without being inside the negotiations are very, very close to them. we know that the swiss government is likely to want a deal today. however, it's probably going to be putting pressure on regulators and on u. b. s. to make this deal happen. and that's because it doesn't want an certain situation to be there as markets reopen again. and the preferred method to unwind these kind of situations is for a take over from another bank. otherwise, the regulators would have to step in and take over the bank themselves. it creates a much more clear picture when that's the case, and that's what they want come monday. when markets are reopen, you know, in terms of what it means for markets, it's really hard to say because there is such a psychological aspect. what we've seen going on, credit suisse has better fundamentals than s v be than signature bank. i did make some of the mistakes at the same t

u b. s has reached a deal to take over its embattled rival, credit suisse. takeover was arranged quickly over the weekend. i made fears that the banking crisis could destabilize the global financial system, switzerland as preparing emergency measures to fast track approval, and u. b. s will receive liquidity assistance from the swiss state. the turmoil was on least by the collapse of to you ass 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 council is 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 scandalous, public legal battles and mounting losses. these longstan

u. b. s. has a balance sheet of one trillion. it's taking over g, a credits with a gun sheet of about half the size. so together it's gonna be one very substantive logically, and i think it's a, it's meant to be a strong sign of for building trust. now, there is, was authorities not a big way to stabilize the situation in critical. ok, so we have 2 banks in the u. s, which go down and cause this problem in switzerland. central banks now are scrambling to com fears that this could ripple around the world. that is, that risk now contained no, it's not to her pity contained her. but i think her, what you really notice is that authorities have to learn from the great financial crisis in 2008, 2009. so they are acting much faster than they did in the past. they're acting strongly and sending out signs of trust, building and weren't sure. so i want you to recognize that fundamentals are much stronger today than they were in 2009 capital or is higher in the banks. regulation is stronger than tighter. it was disappointing. that to the con valley bank a collapse and t

u b. s. acquires it's rival credit suisse, switzerland central bank, fast tracks. the deal designed to avert that banking crisis. ah, i'm good. how else as well come to the program? china's presidents, each in thing has arrived in moscow. the trip is widely seen as a show support for russian president vladimir putin, president. she is the 1st national leader to be welcome to moscow since the international criminal court issued an arrest warrant for vladimir putin over russia's alleged war crimes in ukraine. china has not condemn thrushes, full scale invasion, and with his forces struggling to make gains, mister putin hopes to signal that he has a very powerful ally. rushes from 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 to end the destruction for our beaker. she ship kit that is important for us that china does not choose russia side a little. we expect china to fully use its influence on russia, your ring, russia, to respect int

now to us citizens largest banks, credit sways and u. b. s. are reportedly considering a merger that could be a catalyst for an overhaul of the financial system throughout the world. that's after a sharp drop in credits with shares this week, raised further concerns across financial markets where the slumping major indexes. a recent study said that more than 90 percent of the deposits at the silicon valley bank were uninsured and a run on the bank for clients to hastily withdraw their funds caused it to collapse . more than $180.00 us banks are believed to face similar risk. archie contributor rachel mars, and here's her insight on the matter. the failure of silicon valley bank in the united states is sending shock waves through europe's financial system. and it's also sending its bank stocks into free fall on wednesday with the european press, making the link between the u. s. crisis and new trouble for europe's banking sector. credit suisse had dropped on zurich, stock market by mid day. it's top investor, the saudi national bank said that th