this is and tear gas on the streets. this is bbc news. us banking in the spotlight. there republic is rescued byjp morgan after customers withdraw billions over the concern about its future, and a seismic shift in the way that we work, technology will radically change a quarter of alljobs around the world but will it mean a surge of unemployment? a warm welcome to world business report. we will keep a close eye on the protest in paris
and tear gas on the streets. this is bbc news. us banking in the spotlight. there republic is rescued byjp morgan after customers withdraw billions over the concern about its future, and a seismic shift in the way that we work, technology will radically change a quarter of alljobs around the world but will it mean a surge of unemployment? a warm welcome to world business report. we will keep a close eye on the protest in paris
and we will try to watch those throughout the programme but we will also look at some of the top business stories because they are developments in banking. first republic has failed in the us but it has been rescued and of course there are concerns about the wider banking industry and another us bank has collapsed and that has caused shock around the world. first republic will be taken over byjp morgan in a deal orchestrated by regulators and it has been under pressure for weeks as customers withdrew cash over worries about its future amid a rapid increase in interest rates. these coming just after the collapse of silicon valley bank. first republic has seen the deposits it held full sharply by more than $100 billion of the lost confidence in the bank and the rescue deal now meansjp morgan will take over $203
working? impact is that having? is that workin: ? ,. impact is that having? is that workint? ,. a, , working? between the rescue efforts b jp working? between the rescue efforts by jp morgan working? between the rescue efforts byjp morgan and working? between the rescue efforts by jp morgan and the working? between the rescue efforts by jp morgan and the reassurances i byjp morgan and the reassurances that we have heard just now from janet yellen, we are seeing that shares a first republic have jumped up shares a first republic have jumped up by shares a first republic have jumped up by more than 25% in trading today. rememberthat up by more than 25% in trading today. remember that the bank shares had created by more than 75% over the last week and a half as investors were very concerned that it could possibly be the next bank to fail, but these kind of reassurances coming from the banking sector and from the treasury secretary have lifted confidence. how much of this new fou
not only is she reassuring everyone that the american banking system is safe but that they are prepared to go in and help any other banks that are struggling. and that has given a lot of people much more confidence that the extraordinary measures that we saw take place a few weeks ago when it came to the silicon valley bank that the regulators here in america are prepared to step in to offer support to other banks as well. so that has really reassured a lot of people in terms of the health and safety of the banking system here in the us. here in the us. first republic is another us here in the us. first republic is another us bank here in the us. first republic is another us bank that here in the us. first republic is another us bank that is - here in the us. first republic is another us bank that is in - here in the us. first republic is i another us bank that is in trouble, there are efforts going on to rescue it led byjp morgan, one of the biggest banks on wall street. what im