plenty more team coverage throughout the day from zurich. tom: really excellent coverage from our experts on ubs and credit suisse in zurich on this momentous moment of course for the banking sector. billions of dollars worth of credit suisse bonds are rated worthless after ubs agrees to buy the swiss rival. we will discuss those bonds next and the broader implications from the world of finance as they are written down. a deep dive into this credit suisse deal in our banking breakdown special edition of surveillance: early edition anchored by francine in zurich. this is bloomberg. ♪ tom: welcome back to the losses across the benchmark of around 1.5%. futures in the u.s. lower. banks and the banking sector in europe down more than 5% on the back of this deal and a significant risk off move, oil under pressure on the impacts for the broader economy. among the biggest losers in the shotgun sale are the investors in the firm's riskiest bonds, at1s. potentially sending that market into a tailspin. for more were joined by gilda, a partner at acxio

tom: thank you for the latest out of zurich.ng us for more is bloomberg's marion halftermeyer. what has the ubs ceo ralph hamers and saying to his staff? >> first it was a broad reassurance that they would be continuing business as usual, and the first steps are that they are still competitors, oddly enough, until the deal is fully closed, so he has communicated to staff, let's be professional, but until we have announced full closure, you are still competitors with credit suisse. moving forward, he said we will be communicating as and when we can how this integration is going to work, and importantly, people are worried about their jobs, so whether or not they will still have a job at the end of this merger. tom: 125,000 jobs between the two banks. what are the key priorities now for ubs before and beyond reassuring their staff and what the key priorities for the swiss authorities are? >> the key priority for ubs will be going over the details of this deal. this came together so quickly that they themselves admitted they have n

francine: claudia, thanks so much, our bureau chief in zurich. some of the questions we're figuring out is what does leave at credit suisse. we spoke to another of shareholders, one of the ones we got a hold of this morning saying he was pretty pleased with the change at the top. wealth management probably staying mostly intact. the big question is what they do with the investment bank. and questions surrounding the swiss universal bank. in less than half an hour, we will cost to zurich for a press conference and we will bring you that live on bloomberg tv and the terminal. tom: a risk on day across the broader equity space, gains of .5%. u.s. pointing to outside of .7%, the banking sector in focus given the news around ermotti. ubs rallying to .2%, some optimism in terms of change at the top will come through on april the fifth. deutsche bank also up close to 2%, we are hearing from supervisory officials around concerns around the cds market and the need for additional scrutiny. unicredit up .8% given the backing for their share buyback, and the

we are live from zÜrich. that is next.this is bloomberg. ♪ dani: if you did not getting up from the fed yesterday, it is another big day of central banks across europe monetary policy day. we have with us bloomberg's francine lacqua in zÜrich and lizzy burden here in london covering two of the big decisions. first let's focus on switzerland where the swiss national bank has to decide whether to deliver a long-awaited interest rate hike for an economy at the epicenter of the recent global banking turmoil. she is back in zÜrich another day, it's francine lacqua. i know you are basically making yourself a home there, a second home in zÜrich. let's talk about that snb. how do they balance this? the right path with the recent global banking turmoil? francine: this is the same dilemma as the fed had yesterday. it is widely expected that they will hike in this has been in the cards for a couple of months. the snb meets every quarter so this is the first meeting of 2023. they are at the epicenter of this financial turmoil so it is

ok, this story will get more details live from zurich in the coming hours.et the bloomberg business flash. >> thanks, tom. neither billionaire jim radcliffe nor the qatari consortium interstate in manchester united have submitted bids for the british football club. both were granted extensions to last nights deadline to increase those initial offers. groups are competing to acquire the club from the american glazer family. china evergrande group has announced its long-awaited multibillion dollar reconstruction plan. they say they will give creditors the option to swap debt into new bonds and equity linked notes. returning to normal operations will mean financing of at least $36 billion. the world bank president says that global recession still not off the table. the lender is reviewing its global growth forecast following china's lifting of its covid lockdown. they say the lack of investment in developing economies is of particular cause for concern. >> in the latest what we have seen as advanced economy growth expectations have gone up some late last year.

let's bring in oliver crook in zÜrich and tom metcalf from our finance team.let's start with credit suisse. oliver, where do we stand this morning? >> it's a quieter day in the markets for credit suisse and in general apart from the trucks that just arrived, one of which is a florist who works here and he told me he pulled all the money out of credit suisse back in october. this is an ongoing saga credit suisse and the s&p has earned stability in the market. is it enduring stability, the kind that will allow credit suisse to have a turnaround plan executed without any other outside influences? this is still an open question. tangibly, what we are looking for, our clients holding on? we had reporting out about some clients departing and we don't know how big that is so it's hard to speculate on that. our current two parties sticking -- or counterparty sticking around? that adds up to what the story will look like for the next couple of dates for credit suisse. up 1% in the market this morning for the saga. tom: we will watch across the stock and how the bonds a

let stuart in zurich is through. i'm going to show you how to make a proper swiss rec, let is no from. the recollect stoopa has been open in europe since 1996 cheese take santa fe chair and cheese wheels are consumed at the rate of about 10 a day. a rec that also includes pickles, onions, baby, corn, and potatoes. look like this in this, in switzerland reckless as a tradition that you experience even as a small child. i christmas and new years. you have recollect together with family and friends. let's examine the dish has a long history in switzerland. as early as the 16th century farmers and herders were melting, cheese over an open fire. the patented reconnect grills 1st made their appearance in the mid 19 fifties. they also standard equipment in the reckless tuba rivers. that's that article here. there were klett cheese is heated from above at a high temperature to you. it's important for it to form a crossed because we need this roasted flavor of quite often. that's the problem with these little table top grills

so cookie can come in that sense there, i can't do that in the heart of zurich. so town is no exception, but the cheese specialities are served here all year round. but our places workload is a part of every swiss household in a way. and it's something that's handed down from generation to generation. swiss rack unit is a delicacy that will be melting hearts well into the future. ah, a younger and woman was on her way to becoming a professional dancer when the unexpected happened. an abscess on her spine left her disabled and unable to walk. but this life changing experience hasn't stopped sophie howard, ham from dancing ah issue for sophie. how in ham dance has been a lifelong pursuit. ah, she's partially paralyzed below the waist. but that hasn't stopped her from chasing her dream. ah, hanford, dancing to me is something that comes from deep within fun in thus it's a passion that i live with and a language which i speak for, which i need no wound. exactly what a doctor. oh, so she completed her studies and dance in the east in germany, city of dresden at the ag

let's bring in oliver in zÜrich. oli, you are in zÜrich.agine this is what people are really talking about. what is the mood like? oliver: absolutely, france incurred you have people coming by. we have a big set up -- absolutely, francine. you have people coming by, we have a big set up with lights and cameras. we talked about the systemically important factor this bank has. in switzerland, they have retail banking, commercial banking. a lot of the capital that flows through this country goes through credit suisse. you speak to some of the people, they sort of shake their heads, they say they feel bad for the thousands of employees that the bank has. there is a joke that you could buy a coffee for a couple of credit suisse shares. you have people that are quite bullish on the bank paired we spoke to one person who said he bought 50,000 shares yesterday. if that's true, asked, do you happen to work for credit suisse? he's a wealth manager, and he did it out of his own pocket. i spoke to somebody else who also said that they have withdrawn al

>>> welcome back you are watching "squawk box" live in zurich and london. so the deal is done, but the markets are unhappy. shares in credit suisse fall 60%. we also see ubs trading in the head this hour this coming as, of course, we see the emergency deal to try to prop up the swiss banking system a deal that has stunned global markets. it is not going well in the rest of the european banks either the impact on a-t-1 bondholders wiped out raising fears about other banks trying to assure the market this morning that they don't own those particular debt instruments in credit suisse at the moment, the banking stocks, as a whole across europe, are weaker >>> the bruising day for longs in the sector. shorts doing well. bruising day for long continues as u.s. banks listed in frankfurt fall goldman sachs, wells fargo bearing the brunt of the losses. >>> the central banks announcing fresh liquidity measures to stem further fallout. u.s. futures look set to follow asia and europe sharply lower. >>> european stock markets have been trading for just over half an hour

we are live in zurich. backstopping sentiment. european and u.s. futures climbed after credit suisse taps the swiss national bank for funds and looks to buy back debt. treasury yields rise. plus it is ecb day. the recent banking chaos drove the rate hike down, but with the snb rescue, markets are on the fence on predicting a half-point hike from christine lagarde. in an attempt to stymie a crisis of confidence, credit suisse is set to borrow up to 15 billion francs from the swiss national bank. they have also promised to repurchase debt, can a buyback of up to 3 billion francs of dollar and euro denominated debt. the crisis has sent shockwaves across the global financial system with banks and traders looking to cut counterparty risk. then humans -- ben emons says credit suisse for now is on life support. shares are in full force after the saudi national bank chairman made these comments to bloomberg. >> the answer is absolutely not for many reasons outside the simplest reason, which is regulatory and statutory. we know nine point -- we own 9.8% of

, from zurich we came to the university in switzerland, yes, yes, no, at first it was in a chattel erhe shopping center, yes, you told me once that you lived or not, no, not in a chattel , it’s a refugee center, er, in another town for two, two or three days. compared to the two days we traveled in trains directly yes, bozhenka led, well, in simple words, everything was so smooth. everything turned out like a train, a train, graphics, everything turned out like a jigsaw puzzle , and we arrived quickly. the main permi s document, but not plastic , only for a piece of paper, but already from the second day, uh. how did we get it? we could already use insurance and even transport, and mobile communication was organized right away, which is very important in our time . that is, we got it all what did you remember about mobile connection, i also have many friends who now have temporary shelter in switzerland, refugees from ukraine, and they told me that switzerland even provided this card for free, and there are free minutes paid for up to a year, calls to ukraine, yes, sms, that is, that'

north was zurich getting up to rep 18 degrees celsius. you can see how the winds are coming in from that mile. southwest, the directions, so a lot of rain in place and heavy burst of rain they're pushing into, we're france. it'll make its way through zurich watching the temperature back down to around 10 degrees celsius. here on that shoes day, just some more wintry weather, sleet and snow, perhaps coming through the snow more expensive across parts of scandinavia. i think it'll remain the rain there. to be honest, across a good part of england wells and pushing across into northern olive and republic. of arden to some, some snow there, some when she, whether they're in 2 were germany, try to make us way for the race was clear, weather does come back in behind. eventually, we have got to clear whether across north western parts of africa area, whether a bit towards the north east, $29.00 celsius in karen, those temperatures will fall further. as we go through the next couple days. rain sweeping through a top temperature on tuesday of 22 a

refuse to take their hands off the sport, after all, somewhere in the world, and specifically in swiss zurichan international ice hockey federation on the eve of the soviets and hf. determined that the return of the national teams of belarus and russia to the competition is unsafe and extended the ban for one more chi in 2024. this decision was made by the council, and the council consists of a little more than 10 people and mainly consists of e, balkan scandinavian representatives. this decision was to be made by congress. congress is more than 80 countries that had to vote. but in my understanding. they just didn't want to bring it to this. our federation is not isolated. we continue to communicate with others. they say to the federations, well, how can we support you when we receive funding from our state. i am sure that if the congress had voted, then this decision would have been completely against the youth team of juniors and youths. what exactly functionaries see insecurity. the return of 16-year-old belarusian hockey players is a mystery, but sooner or later everything has a way to e

not want to remove their hands from sports, after all, somewhere in the world, but specifically in zurichitzerland there is an international hockey federation on the eve of the council and hf determined that the return of the national teams of belarus and russia to the competition is unsafe and extended ban for one more season. this means that we will miss such a decision made by the council, and the council consists of uh, a little over 10 people and mainly consists of uh, scandinavian representatives from the balkans. this decision was to be made by congress. congress is more than 80 countries that had to vote in my understanding. they just didn't want to bring it up. before. our federation is not isolated. we continue to communicate with other federations. they say, well, how can we support you when we receive funding from our states. i'm sure if congress voted. that this decision would be completely opposite and the saddest thing is that not only the main teams are common, but also all teams of absolutely all ages . youth juniors and youths. what exactly functions insecurity and the r

let's get to geoff joining us from zurich. geoff, this market is moving quickly with the action from regulators and central banks and help from the bank itself. >> reporter: absolutely, karen interesting to see where that early quote is settling. obviously, the snb has put a line under the concerns and rumors, but will this just be a short-term fix what does it ultimately mean for the viability of the the restructuring plan put in place by the management at credit suisse let's also talk about the interest that there is in bank stocks more broadly now with mattias hein thank you for joining us let's talk about credit suisse here first come out of the gate strong this morning after the reassurance and guarantees we had from the snb. i think to help us understand what comes next for credit suisse is worth dwelling on why the market was so nervous about this business and why we saw what we saw over the last 48 hours. what do you think is going on? >> i think it was a combination of negative news coming out from the s.e.c. putting

and the swiss authorities and now thinking about its future. zurich is credit 3 says home base and on the streets, it's business. as usual. people here appear to be largely unaffected, but the recent turmoil surrounding one of switzerland's biggest banks. most people here welcome the central banks move to lend more than 50000000000 dollars to the ailing bank. thanks to this, i think that's the right step at the moment. and now they have to show that they can do it well and are careful so that people have real confidence. again, it's a systematically important bank and it has to catch itself. and i think it will catch itself. many believe credit suisse may not have to use all the liquidity provided by the central bank, but they're glad the move calmed investors as the stock bounced back. after all, banks are more important to the swiss economy than chocolate and watches. it's not likely that they're gonna use it, but the fact that it gives them market confidence sat, you know, the government will not let the bank to fail or they will intervene in the matter in masters panic. our assist

it is not funny in zÜrich.too town with a lot of private banks but there is a heritage few in the air. the majority share is including saudi arabia central bank money. they want to come in and acquire that air and that is what they thought they did with profitability. jonathan: we are at the stage when this is part of the conversation. do they really want to go to one month of the bank in switzerland or want to beef it up and have a combination? but this is all highly speculative stuff right now. christie's does not even want us to discuss it because -- credit suisse does not even want to discuss it but they want to get through this. tom: you spend a lot more time there than i have. the new zÜrich is different, as lisa mentioned, from the stereotype of years ago. yet, americans particularly, have a baggage. jonathan: i often tell a story about going over to see rate in duke when i visited. the same questions were asked about the investment bank then. here we are. tom: it has been a decade plus train wreck. as w

geoff cutmore is here with more on this story from zurich. good morning, geoff. >> reporter: good morning to you. effectively, the central bank here, snb has stepped in and drawn a line under the pressure we saw on credit suisse yesterday. they provided a $54 billion lifeline to credit suisse. the question is really does credit suisse need the money possibly not when you look at the liquidity capital ratio at 150% with the fourth quarter earnings just a month or so back they reported a ct capital 1 ratio of 14% here. this is not, perhaps, about the numbers, but more about the fragility in markets and, i guess, the fact that while markets are worried about ripples emanating from the svb episode, they are looking for weak hands and credit suisse looks like one of the weak hands, as it has been in constant restructuring in recent years and still questions as to its profitability over the near term given the bank told us it expect a loss over full year 2023 so, quite understandable, i think, that we have seen the risks around owning credit suisse

and san francisco along with geneva and zurich, switzerland. >>> and google giving early pixel usersess to bard chatbot. google employees testing out the bot. "worldwide exchange" back in a moment stay with us helping them achieve financial freedom. we're proud to serve people everywhere, in investing for the retirement they envision. from the plains to the coasts, we help americans invest for their future. and help communities thrive. >>> welcome back we get a glimpse inside the housing market with the release of home sales data as we continue our look at the spring housing market and if it is set for reset. today we focus on affordability. a critical factor now with the wild ride in mortgage rates and now fresh stress in the banking system diana olick is back here with a closer look. good morning, diana. >> reporter: good morning, frank. home prices shot up around 40% in the first two years of the pandemic partly because mortgage rates dropped to historic lows and that gave buyers more power. rates are higher now and prices are stubborn let's go to cleveland, ohio. this three-bedro

bloomberg's marriott helfer meyer, in zurich.ubs shakes up their ranks, analysts at kbw are shaking up their calls. in a out from earlier this week before the ermotti decision was announced, they said they were placing their underperformance call with a ubs underperform. they wrote ubs may well have made an incredible deal in the long run, but we see a near-term disruption to the investment days, with disgruntlement from other stakeholders over the deal as likely to continue. let's talk to the man behind the note, that is andrew stimpson, kbw head of european banks research. no one would rather talk to you today. does that view still hold now that ermotti is coming back, does your opinion about that disgruntlement change? andy: there is a lot of work for mr. ermotti to get through. he is the right man for the job. he did a great job at ubs. i think you will make a success of it. it is more about the timing of that, and the long list of things to do that he is got to get to in the near term that we're more concerned about. dani: w

this is bloomberg. ♪ >> it should be contained to zÜrich.t like the fed was, the ecb has to acknowledge they have two arrange things and make sure they put enough firewalls in place, but more importantly, to ensure there is no chance of this attracting the attention of other banks and people pushing on them. >> i don't think it is a lehman moment. i think this is really bad, but it can get out of control, i don't think that central banks or anyone else can sit and watch this. >> the experience of silicon valley bank and credit suisse, they have a much better understanding of that liquidity place -- liquidity plays a really critical role. >> the effects of monetary policy tightening, the strong will get stronger and the week suffer. >> credit suisse by some standards may be too big to fail , but also too big to be saved. >>'s stock has been in a huge downfall for two years there are clearly problems within this particular institution that predated what happened with svb. >> will be challenging i think in the short term, because we don't know

switzerland crisis for a century and a half, it was considered the standard of reliability headquartered in zurich managing assets, which in the twentieth year exceeded a trillion dollars, everything collapsed in one moment the annual report showed losses shares depreciated investors, turned away further panic and the outflow of customers on the eve of the declared crisis will be absorbed by switzerland's largest bank ubies. he will gain the ruined a competitor for just over three billion dollars, management of the crisis called it a black day, noting that the crisis arose from a loss of confidence in the history of switzerland - this is the largest bankruptcy in terms of assets after and the largest collapse of banks in europe but occurred after the same the very crisis of confidence flooded three large banks at once, the united states in a matter of days. there, the new york strong forces went bankrupt in the gabe bank, which worked with cryptocurrency and, most importantly, silicone. weiling from which it all began silicon wallet valley funded start-ups. mikhail mishustin urged to minimize the

francine, i will come to you in zurich. ubs is trading higher. it was lower this morning and tracking higher since then. is the credit suisse crisis now over? francine: it seems it is certainly not as over as many would have liked this morning, but it is a lot better. couple of questions, guy -- good afternoon to you -- that we need to answer. why did the stock dropped this morning by so much? we don't have answer questions. did they see something with credit suisse that freaked them out? that is an unanswered question. the market i guess take solace with now seeing blockbuster in terms of affecting ubs. what does this bank become? what happens to the credit suisse first boston bank? we don't 100% know where this ends up. there was panic reaction this morning. maybe we found a floor. the next couple of days as we have more details about the deal , as we have more details about the banking system as a whole, and what ubs intends to do with this bank, we will see whether the banking crisis is behind us. alix: and i've been reading a lot about how t

peter's cathedral in geneva, the international airport in zurich, visit the helicopter base of the rescuece and the cable car in grindelwald. all this can be done in just one walk in the park, switzerland in miniature in the city of meledi from little switzerland our correspondent dmitry chudov absolute accuracy and impeccable execution these truly swiss qualities distinguish large-scale copies of castle buildings , temples of leather railways and much more in the park of miniatures of the city, they were measured, to make them it took a lot of effort and painstaking work, and today the park of switzerland in miniature is the pride of not only canton tichina and the whole country. in order to take a look at the whole of switzerland at once, the inhabitants of the small town of melida on the shores of lake lugano in the canton, tichina do not need to go anywhere more than half a century ago. a park has appeared here, switzerland in miniature, which presents natural and historical monuments and outstanding creations of swiss engineers and road builders luxury houses magnificent temples, tin

>> it should be contained to zurich. but just like the fed was, the ecb has to acknowledge they need refinance things and put enough firewalls in place to help cs but more importantly to ensure there is no chance of this attracted attention of other banks and people pushing on them. that happened in the u.s. in the past. i like what regulators did in the u.s.. i think they were very aggressive on sunday night. they need to address the core problem which is huge unrealized losses but a step in the right direction. making sure people understand there is time for these to work out. lisa a: the core problem is regulators missed some red flags, not only with respect to credit suisse, but having to go back and rethink some statements as the ftc raised flags. also in the u.s. where there was not even a chief risk officer at svb. at what point does the market lose faith in the ability for regulators to flagged risks that may emerge next? >> one of the problems we face is regulators often get caught fighting the last battle in th

let's get to zurich now and bring in manus cranny. lifeline was possibly averted at this point in time but still lots of uncertainty. what are we looking for now? manus: good morning. it is a huge amount of uncertainty in the bond market. what we heard yesterday morning from dubai was a $1 billion deal on the table. by lunchtime, it closed after the press conference at 3 billion. if this was about stability over antitrust issues, it is about liquidity, and the chairman of the ubs during the press conference said this was an extraordinary government support. there is a lifeline, 100 billion swiss francs of additional liquidity and a lifeline, and a government backstop, so the lifeline comes from s&p, and the backstop on losses, they will deconstruct the investment bank at credit suisse and backstop from the government. rishaad: at the end of the day, it is a bailout and a bail in, and it is also one where stability has been the watchword and the primary concern. they got it done and had to get it done over the week. manus: absolutely.

swiss officials are now on watch for what's happening at credit suisse, a zurich-based bank that's 1 of the 50 biggest in the world the bank's been bleeding deposits, and the swiss national bank said today it could step in to help if necessary here in the united states, the focus is on california-based first republic two agencies that rate corporate finances downgraded the bank today saying they worry about depositors pulling money too. first republic had said over the weekend it was in very strong shape, but the stories here and broad underscore the concern, lester, that the drama in the banking sector are far from over. >> all right, brain, thanks for covering that for us tonight. >>> in texas a federal judge heard arguments in a lawsuit aimed at banning the most prescribed pill for abortions. it's been fda approved for more than two decades. as dasha burns explains, the outcome could have consequences nationwide [ crowd chanting ] >> reporter: anticipation in amarillo building for weeks as a case in this texas courthouse could restrict access nationwide to the abortion pill, the m

from the swiss national bank we take you live to zurich moments. >>> the white house looking to ban tiktok if they don't difficdivest >>> virgin orbit looking to furlough most of the staff and looking for a lifeline. >>> it is thursday, march 16th "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc live from the nasdaq market site in sometimes square i'm kelly evans alongside andrew ross sorkin. joe and becky are both off >> welcome to the show. >> welcome to the -- >> the early alarm how did it go? >> i thought you were talking about the banking system >> that's the other early alarm. >> how did it go i was going to ask you >> we have a couple of alarms. >> let's check on u.s. equity futures. dow under pressure by 100 points after that and the s&p closed off session lows you remember the dow down 720 points nasdaq finished higher here we have the set up this morning. here is the look across the treasury volatility ha been 2-year treasury at 4.007 rebound above the 4% level still below 5% from last week. the 10-year treasury below 3.5%. just going green on

together with the urban-think tank from eth zurich, the ngo has replaced an entire informal settlementhomes. the empower shack pilot project has already built more than 70 units. the last ones will be handed over to their new owners today. cape town's deputy mayor has arrived. the city council wants to officially honor the new homes and their owners. eddie: these small features are really important. it makes the home. it makes the home, it really does. it makes people taking pride in their asset. currently we have a population sitting at about 4.8 million people. the data suggests that we will surpass or come close to six million people by the end of this decade. we need to plan differently, we need to de-densify, and we need to secure partnerships to respond to the housing need. i think that's a good place to start. reporter: in an emergency, this street provides access for fire trucks and ambulances. where corrugated iron huts once stood cramped together, there are now children playing. the project also plans to provide solar power for the neighborhood. alexander: we're looking at th

in zurich, a 31% decline in quotes led to a fall in the european banking index by 7%, meanwhile, the bank of england held negotiations with international partners, on the loan situation, this was economic news in a nutshell. entrepreneurs see prospects, and uralsib offers an advantageous solution for half a year of free maintenance of a business account and other profitable promotions for experienced entrepreneurs book profitably. crimea is celebrating the ninth anniversary of the referendum on joining russia correspondent olga kurvaeva. olga we greet with what mood the crimeans celebrate this anniversary and what events are taking place today? daria hello well, as you can see, the mood here is spring festive, the sun is shining. and uh, it is traditional to celebrate the day of the reunification of the peninsula with russia. here they begin to pay tribute to the military forces of a special military operation. here in the morning they bring flowers. this has been done every year for 9 years, and actually the expression polite people came from here. and this is done from the heart, c

in zurich , a 31% decline in quotes led to a fall in the european

when the line of reason between helping refugees and the interests of its citizens is erased, as in zurich were evicted from municipal apartments. however, any words about the migration crisis in switzerland, which last year received more than 90,000 ukrainian refugees, are subject to harsh criticism. so the statement of the head of the health department of one of the count of the swiss districts, who only spoke about the fact that ukrainians often want a lot, but was accused in russia . residents of ukraine are in some cases much more demanding than other migrants. and our population is already experiencing strong dissatisfaction when refugees drive expensive suvs, go to restaurants and at the same time receive social assistance, while 70,000 residents of ukraine entered switzerland on the basis of a special status that gives them the right to housing , medical insurance benefits. and allowing you to work, but mostly ukrainian refugees do not learn languages ​​do not integrate into the local environment. of all the holders of special status, less than 15% wanted to find a job. we are all

and one academic in zurich has even bigger ideas — whole buildings, as l] rich has been finding out. was recycled was way back in seventh century japan. then, alongside disco, the 1970s gave us the idea of sustainability for environmental reasons, and the birth of this iconic logo. since then, in our individual efforts to help the planet, we've been recycling our glass bottles and paper waste, one piece at a time. but one academic and entrepreneur believes we should be thinking bigger, a lot bigger — recycling entire buildings. urban mining is really about mining the city for building materials rather than mining the earth. # you'll see me getting back up, up, up # even when i fall down, down, down...# professor de wolf is working on a project to document and reuse parts of buildings for the construction industry. in the construction industry, we have a lot of waste, a lot of greenhouse gas emissions and a lot of resource depletion. so we use a lot of raw materials to build our buildings. we also use a lot of energy and greenhouse gases to produce our building materials. we also wast

and it's warmer surge of air is infiltrating central europe already signs of a 12 degrees in zurich on thursday. it says wind shift to south southwesterly that 18 degrees on friday. now by next week, everyone's going to be in on this. so tuesday, march the 21st especially around the balkans. any places closing in on 20 degrees back to the here. and now though for the southeast of turkey a, there has been some flooding in the earthquake zone, still showers across the country. more steady and persistent rain in on tale off to africa, we go, it's a windy pitcher through the coast of libya, the northwest of egypt, and will keep this theme of when going for south africa. the coastline got fear of about 70 kilometers per hour. now this is scooping up moisture off the indian ocean and dumping it into the province. of course you don't tell so showers in durban, but the height of 26 degrees on thursday. ok, i'm out of fun. i'll see you soon. ah . the coveted beyond well taken without hesitation, fought and died for power. defines how well we live here. we make the rule, not them, they find an e

credit suisse had dropped on zurich, so stock market by mid day. it's top investor, the saudi national bank said that they won't help cushion the blow by buying any more than the 9.8 percent of the shares that they already own, since they want to avoid any new regulatory regimes. they kick in above 10 percent investment economists, new rail rubini said in an interview that they could histories crisis is a quote, lehmann moment for european and global markets referring to the lehman brothers collapse. that sparked the 2008 economic crisis in the united states. which then spread to europe. french banks were especially hit hard on wednesday with trading of frances b and b about he bass stocks temporarily halted earlier in the day as its value plunged. as did that of associates asian. it, i'm could, yeah, they could. and germany's chorus bank, the ceo of global investment giant black rock, larry think, suggest that silicon valley bank was just the 1st domino to fall, calling it a quote, slow rolling prices with quote, more seizures and shut down is com

taxation system, four bankers in switzerland were convicted of helping putin with millions , the zurich district court recognized three russians and one swiss person is guilty of helping serhii rolokhin, a volontelo who is called putin's wallet, according to the reuters agency, according to the indictment, the bankers were criminally negligent by allowing the accounts to be opened and not questioning the origin of the funds. we are talking about 50 million swiss francs in two gazprombank accounts . the men received suspended prison terms. for 7 months each needed help 12 diesel trains will be presented to ukraine by norway , the minister of transport of ukraine ion and zhurygor said about this, he mentioned four trains will be handed over before the summer, and the remaining eight during the year, in a state of war, transport is especially necessary for the transportation of various food materials and civilian aid. norwegian trains are designed for the european kolya. therefore, before the start of operation in ukraine, they will need to change the carriages for a wider railway. meanwhi