by about twice the global average. it s already increased by 2 degrees celsius. 20 years since the us led coalition invaded iraq to topple dictator saddam hussein, we look at the legacy. hello and welcome to bbc news. the world s financial markets have reacted with unease following last night s emergency takeover of the troubled swiss bank credit suisse. shares in credit suisse fell by more than 60% this morning after european markets opened and the value of banking shares across europe have dropped sharply. credit suisse was bought by fellow swiss bank ubs after a deal brokered by the swiss government. here s the chief executive of ubs explaining the rationale behind the deal. translation: it means we bring back stability and security for credit suisse clients, but also that we keep the reputation of the swiss financial centre high. and finally it means we are stemming the turmoil in the international financial markets. these three goals are very, very important to us. we
people. that is one possible effect that could filter through given the right amount of time. that could filter through given the right amount of time. taking a look at this purely right amount of time. taking a look at this purely from right amount of time. taking a look at this purely from the right amount of time. taking a look at this purely from the banking - at this purely from the banking perspective, if people think back to 2008, the financial crash, banks were criticised for irresponsible lending and excessive risk taking and so forth. have enough lessons being learned from that and changes instituted to make sure that sort of crash doesn t happen again? that’s crash doesn t happen again? that s the million-dollar crash doesn t happen again? that s the million-dollar question - crash doesn t happen again? that s the million-dollar question here i the million dollar question here because whilst changes were absolutely made across the financial system as a result of t
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Steel, cement and construction are the industries that are doing very well. At this time, there is a great push. These industries are doing very well and we are seeing very good results for us, said
Rajkiran Rai G, MD & CEO,
Where do you see the credit cost for banks in Q2? Do you feel it will be much lower overall, and do you see things getting better?
Yes, the credit cost for the full year will be cumulative numbers because the last two-three quarters we have not recognised the NPAs even though we declared pro forma NPA and most of the expected provision is on the standard book as of now. So, the credit cost for the full year can be anything between 2% to 3% for the system.
the mortgage industry was rushing through foreclosures without really checking properly the paperwork from the banking perspective they re saying that they have a time-out on many sales. just doubling and triple checking the work to make sure thing everything is okay. attorneys general want an investigation and make sure people weren t kicked out of the houses for the wrong reasons. i want to tell you how big the scope is of the foreclosure problem. last month according to realty track more than 100,000 homes seized by the sheriff and repossessed by the bangs. we have never seen that many homes turned back over to the bank ever. that s about two homes every single minute. many cases, kyra, people belong gone out of the houses. stopped paying the bills months or years before and the banks repossessing. many people think the numbers do down because the banks aren t