it signals concern about the health of the sector, following the collapse of first republic and its acquisition byjp morgan chase. the wall street giant said it would pay $10.6 billion dollars to the federal insurance deposit corp, after officials shut down the smaller bank. first republic had been under pressure since last month, when the collapse of two other us lenders sparked fears about the state of the banking system. meanwhile, the managing director of the international monetary fund kristalina georgieva says she expects more weaknesses to be exposed in the banking sector. so just how vulnerable is it? let s ask the chief global investment officer of oreana financial, isaac poole. i think there is a real risk of that. this is probably not the end of bank failures. we are seeing these problems in the smaller, regional, medium sized banks, really exposed to higher interest rates. we are going to see another interest hike from the fed which might add extra pressure on dep
i m karishma vaswani. we begin with the banking turmoil in the us. shares of several regional banks have closed in the red on monday. it signals concern about the health of the sector, following the collapse of first republic and its acquisition byjp morgan chase. the wall street giant said it would pay $10.6 billion dollars to the federal insurance deposit corp, after officials shut down the smaller bank. first republic had been under pressure since last month, when the collapse of two other us lenders sparked fears about the state of the banking system. meanwhile, the managing director of the international monetary fund kristalina georgieva says she expects more weaknesses to be exposed in the banking sector. so just how vulnerable is it? let s ask the chief global investment officer of oreana financial, isaac poole. i think there is a real risk of that. this is probably not the end of bank failures. we are seeing these problems in the smaller, regional, medium sized banks,
with overall demand. a say australia needs less gas because demand has fallen sharply but the energy sector insist that more gas supplies have acquired to smoothen the transition to renewables. the government has promised to cut carbon emissions by 43% from 2005 levels by 2030 and it aims to achieve net zero emissions by 2050. phil mercer has more. gas has ignited a fierce row over australia s energy future. the government says new gas field will give the power grid the reliability it needs during the reliability it needs during the transition to renewable sources. australia also wants
a say australia needs less gas because demand has fallen sharply but the energy sector insist that more gas supplies have acquired to smoothen the transition to renewables. the government has promised to cut carbon emissions by 43% from 2005 levels by 2030 and it aims to achieve net zero emissions by 2050. phil mercer has more. gas has ignited a fierce row over australia s energy future. the government says new gas field will give the power grid the reliability it needs during the transition to renewable sources. australia also wants to reassure its partners that it is a dependable supplier of liquefied natural gas. you make the practical reality is that we need to be investing
very fast coming out of the blocks. and stephen, i m just one company, but the enthusiasm is out there. i went net zero by 2030. you ve had rio tinto, one of the great companies here, come out and say they ll be 50% down. now, that is by 2030. big industry s starting to embrace this, stephen, they re starting to see the lead. they re starting to say, actually, we ve got to do this. so, i m. it could ve happened fast. stephen, bloody oath i m a big believer in what ijust said. let s make it happen. just one quick question about scott morrison in glasgow, and then i just want to move on to something else. but scott morrison has a choice to make. does he come to glasgow and say australia will go far beyond what it s already promised to do, which is to cut by 26 28% its emissions by 2030? the americans are now over 50% as a promise by 2030. has australia got to go much further? look, stephen, i can only say that we can. we absolutely can. iam big industry. you re a hugely influential voi