the chairman of the bank has said he is truly sorry for taking the company to the brink of bankruptcy. credit suisse was taken over last month by its rival, ubs, in an emergency deal backed by the swiss government. shareholders were not consulted about the takeover. let s go live now to switzerland and speak to our correspondent, imogen foulkes. it is interesting if you eat so what has come out of this meeting, the boss they are apologising and also a collapse entirely would have been bad news for the country and therefore this was the least bad option. therefore this was the least bad 0 tion. . , , therefore this was the least bad otion. . , , ., option. that is right. it s a blustery option. that is right. it s a blustery day option. that is right. it s a blustery day in option. that is right. it s a| blustery day in switzerland option. that is right. it s a - blustery day in switzerland but there is a tornado of anger blowing through credit suisse s agm. it is tru
there was a launch failure in - there was a launch failure in january, trying to lodge, a horizontal launch rocket launcher out of uk in the uk. , newquay in the uk. that satellite group didn t get into the orbit, there was a fuel failure stop previously they had had four successful launches. the company is doing ok. satellite launching is very hard in its early stages for companies so it is not surprising that there have been technical glitches but it is of the sea disappointing, they cannot secure the funding to carry on in their present form. they will need a new buyer to take it on. we their present form. they will need a new buyer to take it on. new buyer to take it on. we know it is notoriously new buyer to take it on. we know it is notoriously expensive new buyer to take it on. we know it is notoriously expensive to - new buyer to take it on. we know it is notoriously expensive to do - new buyer to take it on. we know it is notoriously expensive to do this | is notoriously
private investors to put money in and get an immediate return. i am sure the government would not say it is bribing private investors, it will be trying to make the case that it will give them a good return for their money. unlike hinkley point c, where all of the cost and time overspend is being paid for by edf and cgn, its chinese partner, sizewell c, our energy bills will start to see a nuclear tax from the day construction starts, and we will be paying that tax throughout construction, for a decade or more before a single light bulb is lit, and that is on top of the taxpayers investment going on. in response to the professor, edf has got experience at building this reactor before, it has four other disastrously late builds which were overspent, and one of the only operating once in china was offline for 12 months because of fuel failure. so this is a huge amount of money to invest in a reactor technology that hasn t really proven itself. what is your reaction to that, professor?
before, experience at building this reactor before, it experience at building this reactor before, it has four other disastrously lighter builds which were disastrously lighter builds which were overspent, and one of the only operating were overspent, and one of the only operating once in china was offline for 12 operating once in china was offline for 12 months because of fuel failure for 12 months because of fuel failure. so this is a huge amount of money failure. so this is a huge amount of money to failure. so this is a huge amount of money to invest in a reactor technology that hasn t really proven itself technology that hasn t really proven itself. ~ . , , ., technology that hasn t really proven itself. ~ . , ., ., itself. what is your reaction to that, professor? itself. what is your reaction to that, professor? has - itself. what is your reaction to that, professor? has there - itself. what is your reaction to l that, professor? has there been enough evidence o
people including members of the a prominent brazilian soccer team. in failure. total electrical and fuel failure. reporter: the flight was minutes from its destination and rapidly descending when they received a call to land. reporter: seconds later the flight disappeared from radar. the controller still tried to direct the pilot in for landing. you are 8.2 miles to the runway. what is your altitude now? reporter: then silence, the plane crashed just five miles from the airport. investigators confirm it ran out of fuel. it is an extraordinary event and it really borders on negligence. in addition to fuel shortage, a question as to why this aircraft, a four-engine plane