the financial times is reporting that the swiss bank ubs has offered to buy its rival, credit suisse, for more than $2 billion. the swiss government is due to hold a press conference in about half an hour s time in bern. credit suisse 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 by switzerland s central bank, but that had not prevented a sharp fall in its share price. let s get more on this with our business correspondent, marc ashdown. mark, what you make of the announcement, the possible announcement? the possibility that ubs might be buying? fix, announcement? the possibility that ubs might be buying? announcement? the possibility that ubs might be buying? a deal has been aareed u- ubs might be buying? a deal has been agreed up and ubs might be buying? a deal has been agreed up and it ubs might be buying? a deal has bee
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 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 by switzerland s central bank, but that had not prevented a sharp fall in its share price. here s the swiss president, alain berset, speaking at a press conference a short time ago. on conference a short time a-o. on conference a short time am. friday, on conference a short time a-o. friday, the liquidity s it on friday, the liquidity showed that it was on friday, the liquidity showed that it was no on friday, the liquidity showed that it was no longer possible to restore the necessary confidence, and the swift the necessary confidence, and the swift and the necessary confidence, an
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
over the black sea. britain becomes the latest country to ban the chinese owned video sharing app tiktok from government mobile phones. the uk government has reached an agreement with health unions over a new pay dealfor nhs staff in england. the deal aims to bring to an end a winter of industrial action which has seen nurses, ambulance staff and physiotherapists all go on strike. the offer includes a rise of 5% for the next financial year starting in april and covers all nhs staff except doctors, who are on a different contract. for this year staff have been also offered a one off payment. members will now be consulted over the coming weeks and strike action paused. the uk health secretary steve barclay has been speaking in the last few minutes, here s what he had to say. the government has made a formal offer, just come at a meeting, i m pleased they ve agreed to recommend to their members, it will be for a 5% pay rise next year, 2023 24, but also an additional lump sum