protection in the united states, while it seeks buyers for its assets. that s hot on the heels of its subsidiary silicon valley bank being taken over by us regulators and the british arm of the same bank being bought by hsbc. separately, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic, a regional us bank based in san francisco. here s samira hussain in new york. good to have you with us. explained this bankruptcy protection, how significant is it for svb financial group? it significant is it for svb financial . rou . ? ., , significant is it for svb financial u-rou? ., significant is it for svb financial a-rou? ., .,., significant is it for svb financial u-rou? ., . , , , , group? it wasn t a total surprise that svs, group? it wasn t a total surprise that svs, the group? it wasn t a total surprise that svb, the parent group? it wasn t a total s
surged 10% last year to $150 billlion. they have moved to reduce reliance on the us dollar by setting up payment clearing in the chinese currency, the yuan. former brazilian president dilma rousseff is to be sworn in today as head of the new development bank a rival to the world bank and imf set by by the so called brics countries of brazil, russia, india, china and south africa. let s speak now to william jackson, who is emerging market economist at capital economics. xi has been signalling the post covid reopening of china by hosting a series of world leaders. what can we read into the fact that brazil s leader has been among the first? you are absolutely right. as china moves into its postcode environment it seems to be wanting to spread its international wings. we have seen talks between saudi arabia and iran recently, and now we have cordial words with president lula, hayes and china at the moment. there is a big political angle to this, to find a way to cement relatio
investigate the alleged war crimes. ukrainian police say they have already found the bodies of more than 1200 civilians in the kyiv region alone. and, a huge tunnel has been discovered running under the mexico us border, with its own rail track, electricity and ventilation system. authorities say it was being used to smuggle drugs. hello, and welcome if you re watching in the uk or around the world. the uk s rate of inflation the measure of the rise in the cost of living has hit its highest level for a0 yea rs. and the rate at which it is increasing is the fastest since records began. it reached 9% in april, up from 7% the month before. that means the prices we pay for goods and services are on average 9% higher than they were last year. most of the rise was due to the large increase in energy bills after the lifting of the price cap last month. the chancellor rishi sunak blamed higher global energy prices he said the government could not protect people completely from
following a slowdown in the rate of us inflation. the british pound is now worth over $1.25, the highest since june last year. this comes despite the latest gdp figures showing britain s economy flatlining. uk premier league football clubs have agreed to ban advertising by bookmakers and gambling organisations on the front of players shirts. however, the change won t come into force until 2026. eight top flight clubs currently have betting firms as their main shirt sponsors. our sport reporterjo currie has that story. gambling sponsors on the front of football shirts have become a familiar sight in the professional game. but in the premier league this will soon be a thing of the past. from the 2025 26 season, clubs in the top flight will not be able to feature betting companies in this way. currently, eight clubs in the premier league have these sponsors with deals estimated to be worth £60 million a year.