let s start in the us where some of the worlds leading money managers are warning the collapse of another american bank could lead to a credit crunch and an economic slowdown. constrained lending as a result of stricter banking regulation could stifle credit to the us economy at a critical time. we ll get an expert view on this in a moment but first here s my colleague samira hussain on the collapse of first republic. as of monday, first republic customers turning up at their bank are in fact customers ofjp morgan chase. the signs above will soon change. first republic had been under pressure since the collapse of silicon valley bank and signature bank two months earlier. last week, first republic revealed deposited had removed $100 million in the space of a few months. customers feared their money was not safe. investors became convinced that it too was about to fail. riding to the rescue of america s distressed financial system, the boss of america s biggest bank, jamie dim
the united states and around the world, i m christine romans. we begin with breaking news on what s now the second biggest bank failure in u.s. history. most of first republic bank is now being bought by jpmorgan chase in a deal arranged by the federal deposit insurance corporation. the fdic. cnn s clare sebastian live in london for us. clare, this deal announced just a short time ago. all weekend, we ve been waiting for word what would happen to first republic. we knew it couldn t continue as a concern here. fdic would have to step in. and you went to bed thinkiing first republic is your bank, it s now jpmorgan chase, right? yeah, christine, all 84 branches of first republic will reopen this morning as branches of jpmorgan. this is different than silicon valley bank which was taken by regulators and stayed there for more than two weeks. this happenmuch more quickly over the weekend with that auction held on sunday. several banks bid it. it seems they reached that deal with
israel s security cabinet has approved measures in response to the killing of seven people outside a synagogue in eastjerusalem by a palestiniaun gunman. family members of attackers are set to lose their residency and health insurance rights. the former nato general, who will be the next czech president, has described the election outcome as a victory for the values of truth, dignity and respect. in a speech to cheering supporters in prague, petr pavel said it was time to return those values to politics. now on bbc news, our world: the hunt for the superyachts. for years, many russian billionaires enjoyed lavish lifestyles in the west. they bought the most sought after villas and holidayed on their beloved superyachts. but with russia s invasion of ukraine, theirfairytale came to an abrupt end. western sanctions sparked a game of cat and mouse between some of the world s most powerful nations and some of russia s richest men. there was a real frenzy around the world between d
attack from russian troops on the opposite side of the dnipro river. three people have been killed. president zelensky says russian forces are relentlessly trying to break through ukrainian defences in the east. scotland s prison service has announced an urgent review of all transgender cases in its prisons. it says it will pause the movement of all transgender inmates until the review is completed. at ten o clock we will be here with a full round up of the days news. first our world: the hunt for the superyachts. for years, many russian billionaires enjoyed lavish lifestyles in the west. they bought the most sought after villas and holidayed on their beloved superyachts. but with russia s invasion of ukraine, theirfairytale came to an abrupt end. western sanctions sparked a game of cat and mouse between some of the world s most powerful nations and some of russia s richest men. there was a real frenzy around the world between democracies to see who could sanction the most
an entire summer s worth of rain fell in just a few hours, and the deluge is set to continue. now on bbc news, our world: the hunt for the russian superyachts. for years, many russian billionaires enjoyed lavish lifestyles in the west. they bought the most sought after villas and holidayed on their beloved superyachts. but with russia s invasion of ukraine, theirfairytale came to an abrupt end. western sanctions sparked a game of cat and mouse between some of the world s most powerful nations and some of russia s richest men. there was a real frenzy around the world between democracies to see who could sanction the most people the most quickly, who could sanction the biggest yacht. we got stopped because this is a big, blue, easily visible, high profile target. for the first time, the head of the us kleptocapture task force reveals how they caught a superyacht. we saw it scrambling out of waters where we would normally be able to seize it. security, security, security. ..and