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 a short time ago. on friday, the liquidity showed that it was no longer possible to restore the necessary confidence, and the 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 a regulator, credit suisse and by ubs. the federal council has every confidence that in this difficult situation, the takeover of credit suisse ubs is to restore the confidence that
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
and the rise of china. and, climate advocates bless the president for approving a huge drilling project in alaska. we will sit down democratic senator chris van hollen let what it says about progressive s wish list ahead of 2024. plus, the bite administration says the worst is over, after a high-profile bank failure spoils markets appear. our banking system is sound. but while makers, business leaders and consumers are still bracing ahead of a fed interest rate decision just days away. we will bring in mohamed el-erian one of the world s most respected investors on what this means for your economy and your money. then, former president donald trump says he expects to be arrested in manhattan on tuesday per bless the sunday panel of the looming charges could up and the 2024 campaign all right now on fox news sunday . gate hello from doctors in washington. global powers are flexing this week russian president putin is prepared to welcome his chinese counterpart judging p
the editorial board. alexandria hoff joins us live. alexandria: u.s. regulators are applauding the deal saying the lifeline given to first republic bank demonstrates the resilience of the american banking system. all of this to pull first republic bank from the spiral met by silicon valley, signature and silver gate. join statement reads action of the largest banks reflect confidence in the banking system, we are deploying strength and liquidity to the largest system where it is needed most. the banks are supporting the economy and those around us. secretary yellen was among the architects of the deal. her testimony game days after emergency action to contain collapse of silicon valley bank. listen. i can reassure the members of the committee that our banking system is sound. americans can feel confident that their deposits will be there when they need them. this week s actions demonstrate resolute commitment to ensure that our financial system remains strong and that dep
we begin in the us in what could become the largest product liability settlement in history. the pharmaceutical s giant, johnson &johnson has proposed paying almost $9 billion to settle tens of thousands of lawsuits that allege the company s talcum powders causes cancer. the new move seeks to resolve all current and future claims and follows a decade long legal battle between plaintiffs lawyers and johnson & johnson. my colleague samira hussain with the details. johnson &johnson johnson & johnson has johnson &johnson has been dogged for use by claims that its talcum powder causes cancer. in 2021 it settle a lawsuit in newjersey brought by 21 women who blame the company for that very cancer and is set aside another 2 billion to try to settle all future claims in what could add up future claims in what could add up to thousands of lawsuits. now the company says it will increase the potential size of all settlement to 8 $.9 billion. the company stopped selling it talcum product