a weekend of fraught negotiations in switzerland, as the authorities there, its central bank and leaders of its two biggest banks tried to prevent another damaging financial crisis. late on sunday, it was announced the troubled bank credit suisse was being taken over by its rival ubs in a government backed rescue worth more than $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and by the us federal reserve. but not everyone s happy. credit suisse bondholders have lost $17 billion, shares in both banks have slumped, and there has been a sell off of banking shares across the markets today. 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 mea
the financial times is reporting that the country s biggest bank, ubs, has offered to buy credit suisse for up to one billion dollars, although bloomberg reports that credit suisse sees that as vastly undervaluing the bank. the swiss banking giant had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. it had been offered an emergency credit facility of more than 50 billion dollars by switzerland s central bank but that had not prevented a sharp fall in its share price. more now on one of our main stories this hour a potential takeover of the struggling credit suisse bank by another swiss based bank, ubs. let s get the latest now from our correspondent in switzerland imogen foulkes. what is the latest on these stories to try and shore up we hearing a lot of things but i can tell you the crisis talks taking just on the road from me in berne financial authority of the banks, people are being very tight lip
vladimir putin, has visited the ukrainian city of mariupol. it s the first time he s ventured inside territory seized by russian forces since last years invasion. his visit, under cover of darkness, has been fiercely criticised by the exiled council of the southern port city, which has seen some of the fiercest battles of the war. i m joined now by the ukranian mp for kharkiv, maria mezentseva. thank you for being with us. what you make of this visit by president putin? well, nothing spectacular really. it is one of the first visit to the occupied territories that president putin has conducted. this is the scene of a brutal invasion. and i am looking at the footage of him sitting all alone in the filler monarch building, and russian authorities are claiming that they have restored the building etc, we are asking, what has been done regarding the cleaning of the green seeds over their quest but this is not a joke for us at all. apart from criticising that visit, i am linking i
we ll have a special report. hello, very warm welcome to the programme. the financial times is reporting that ubs switzerland s biggest bank has agreed to buy credit suisse for more than two billion dollars. there s been no confirmation yet of whether the offer has been accepted. it s thought an earlier offer of $1 billion was considered too low. the swiss banking giant had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. it had been offered an emergency credit facility of more than $50 billion by switzerland s central bank, but that had not prevented a sharp fall in its share price. our business correspondent marc ashdownjoins me. we spoke a little earlier. it s not offering to billion. offering to billion. they have aareed offering to billion. they have agreed that offering to billion. they have agreed that figure. offering to billion. they have agreed that figure. it s - offering to billion. they
but adidas had said it was too similar to its famous three stripe mark which has featured on its products for more than 70 years. adidas has declined to make any further comment on its about turn. let s bring in our north america business correspondent michelle fleury. adidas have buckled under some sort of pressure. any idea why? this is a logo we are familiar with any idea why? this is a logo we are familiar with and any idea why? this is a logo we are familiar with and it any idea why? this is a logo we are familiar with and it has any idea why? this is a logo we are familiar with and it has enjoyed - any idea why? this is a logo we are familiar with and it has enjoyed a i familiar with and it has enjoyed a resurgence within trainers and now here we are a couple of days after they opposed a new trademark application from black lives matter, they have reversed course on their objection, the company did not give a reason, but apparently a source told reuters that adi