devastated in the early months of the war. # i ll take the world apart to find a place for a peaceful heart. and we hear from yusuf cat stevens about music, faith and performing at glastonbury. it s 7am in singapore, and midnight in switzerland where the government has reached an emergency deal with the country s biggest bank, ubs, to take over its troubled rival credit suisse. the annoucement comes just before global financal markets open on monday, in an attempt to settle nerves in the global financial sector. credit suisse has seen its value plummet over the last week due to fears about the company s financial health. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. here s the swiss president alain berset speaking at a press conference earlier. on friday the liquidity and volatility showed it was no longer possible to restore the necessary confident and that the swift and stabilising solu
the government of switzerland says that the country s biggest bank, ubs, has taken over its troubled rival credit suisse in an emergency measure designed to protect the swiss economy. credit suisse has seen its value plummet over the last week due to fears about the company s financial health. regulators in switzerland had spent the day trying to pave the way for a deal to be struck before the financial markets open tomorrow. here s the swiss president alain berset speaking at a press conference earlier. on friday, the liquidity outflows and market volatility showed that it was no longer possible to restore the necessary confidence, and that a swift and stabilising solution was absolutely necessary. this solution is the takeover of credit suisse by ubs. it is supported by the federal council following several meetings with the swiss national bank, with our regulator, with credit suisse and ubs. the federal council welcomes the takeover and is supporting it by guaranteeing
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a liquidity assistance loan of up to $110 billion. environmental scientists are preparing to unveil eight years of work showing the scale of the climate crisis. exactly 20 years ago, us forces, with the uk and other allies, invaded iraq in order to oust the dictator saddam hussein. it was part of the us s war on terror, begun by president george w bush in the wake of the terrorist attacks of september 11th 2001. the first raids were on the capital baghdad it took the us just over a month to overwhelm iraqi forces, and for saddam s baathist government to collapse. but the effects of the war have been hugely controversial. our international editor jeremy bowen gives his assessment of the war s legacy on iraq. iraq went through a catastrophe. hundreds of thousands of people were killed, no one knows exactly how many. the consequences spread violence
measure designed to protect the swiss economy. both banks will be given a liquidity assistance loan of up to $110 billion. ukraine condemns president putin after he visits the devastated city of mariupol captured during the russian invasion. an aide to president zelensky called him a criminal returning to the scene of his crime. environmental scientists prepare to unveil eight years work showing the global scale of the climate change. this report is expected to become the benchmark for world governments on how to respond to the growing crisis. serbia s president, aleksandar vucic, says he has declined to sign a proposal by the european union intended to normalise relations with kosovo. the eu has been trying to broker a deal, 15 years after kosovo declared independence. you re watching bbc news. coming up click but first