he committed for several months. it s been 20 years since the us led coalition began its war in iraq to topple the dictator saddam hussein we ll assess the legacy. and valencia s streets come to life for a five day festival, celebrating the spanish city s culture, history and people. hello and welcome to the programme. switzerland s biggest bank, ubs, has agreed to take over its troubled rival, credit swiss. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty
the deal will restore confidence to the financial markets. 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 speaking at a press conference. on friday, the liquidity outflows and market volatility showed it was no longer possible to restore the necessary confidence, and that the swift and stabilising solution was absolutely necessary. this solution is a 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 this takeover, and support it, by guaranteeing the framework conditions necessary for its success. the federal council is therefore confident that in this difficult situation, the takeover of credit suisse by ubs is the best solution for restoring the confidence
of sedan omar basheer visited south africa when jacob of sedan omar basheer visited south africa whenjacob zuma was president and there was a lot of controversy over that visit president of sudan. there was some criticism of him for not arresting basheer who was subject to an icc warrant. worth pointing out that now president this year is no longer in power and as if my memory serves me correct actually in custody awaiting a trial for breaches of international law because of the war there. but we will bring you any more developments on presidents putin and indeed where is president putin now on the course of the next hour bbc news. now to the financial crisis affecting one of. some financial news and talks are taking place in switzerland about a possible takeover of the troubled bank credit suisse. the financial times is reporting that the country s biggest bank, ubs, has offered to buy credit suisse for up to $1 billion. credit suisse had been caught up in the market uncertainty
guy, think very much. guide alani, our balkans correspond theirjoining us from ljubljana. you can read more on the back another story on the website. and also the bbc news app. more analysis of the situation for you there. so the sour. the financial times is reporting that the country s biggest bank, ubs, has offered to buy credit suisse for up to $1 billion. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. that s a price tag that the bank has refused to confirm and the bloomberg news has reported that they are pushing back against this figure as the closing stock price for the bank on friday was 8 billion dollars. the swiss government could change the law to fast track this deal and it could be announced by 6pm swiss time this evening
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