there were sharp losses in early trading, although banking stocks have since rebounded slightly. ubs is currently up 3.5% let s take a look now at how the markets are performing more broadly. trading began in the us an hour ago. we can see the dow is up, the snp 500 also on 5.2%. in asia and in europe, there was some initial fright taken by investors, particularly because certain bondholders in credit suisse have lost all the value of their investment, but by the middle of the trading day most european indices were trading positively again. now, one aspect of the deal was that any investor holding additional tieri bonds, or ati bonds, in credit suisse will get nothing. that s more than 15 billion euros written off. it spooked the whole ati bond market which is worth more than 200 billion euros. let s discuss this in more details with dan kemp, global chief investment officer at morningstar investment management. why is the burning of these bondholders so controversial? that
fredricka reynolds used to do all the flowers for the weddings, but in an instant, that key part of her business was snatched away. they rang me on the thursday before the asylum seekers came on the monday, and cancelled all my weddings for the foreseeable. that s a huge amount of work and income to me. and she told me it s notjust the loss of thousands of pounds. me and my boys used to go swimming every saturday there. i ve got two little ones and every time we drive past there, they want to go swimming and, unfortunately, that s closed now. because of the small boats crossing the channel, the number of asylum seekers in hotels has gone from 3,000 to 51,000 in just three years. it s the government policy that almost no one is in favour of not even the government and it s costing the taxpayer £6 million a day. daniel sandford, bbc news, kegworth. more than 100 metropolitan police officers, who are being investigated for domestic abuse or sexual misconduct, are being allo
Bank shares are pulling down that market. Battle of the bands well speak to the boss of a Company Bringing the likes of hozier and bastille straight to your living room. Today we want to know, as more car brands consolidate, does it matter which badges on the back of your car . Is there enough choice in the car . Is there enough choice in the car market . Let us know. Just use the hashtag bbcbizlive. Welcome to the programme. Do get in touch with your thoughts on this story. Our top story today. General motors, as was widely expected is selling opel and vauxhall General Motors will sell opel to psa group the French Company that owns peugeot and citroen. The price . 2. 33 billion. As we speak, both companies are hosting a Press Conference in paris. Buying gms Loss Making European Operations will make psa the continents second biggest car maker after volkswagen and ahead of french rival renault. And it will be a giant. Last year, psa and gm europe sold a combined 4. 3 million vehicles an
the economy is a major issue despite low inflation, spain has the highest jobless rate in the eu, at almost i3%. let s speak to javier diaz gimenez, professor of economics at the iese business school in madrid. thank you so much forjoining me. let s talk about the economy. how much are concerns over the economy playing a part in voting intentions? how important is it? well, i think this how important is it? well, i think this time how important is it? well, i think this time around - how important is it? well, i think this time around it - how important is it? well, i think this time around it is i think this time around it is more about the politics and the economy. both parties are going to be facing a similar 2024 and following years will be times of physical restraint and tight military policy and the continuing fight against inflation and the need to consolidate the deficit, the budget deficit to the tune of between 10 15 billion euros.
or ati bonds, in credit suisse will get nothing. that s more than 15 billion euros written off. it spooked the whole ati bond market which is worth more than 200 billion euros. let s discuss this in more details with dan kemp, global chief investment officer at morningstar investment management. why is the burning of these bondholders so controversial? that is the key question. that s been driving all this that we ve seen over the last few hours on the back of what is very good news. these ati are bombs that are low, just above equities. equity holders