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
quarter of this year the bank s last quarter before it had to be rescued by swiss rival ubs. and they illustrate the scale of the crisis which was around the corner. between january and march, credit suisse made a pre tax loss of nearly $1.5 billion. to add to its woes, a massive amount of deposits were withdrawn in the three month period. total outflow was nearly $69 billion. and to remind you what happened next, when there were fresh doubts about the stability of the banking industry a few weeks ago, investors became increasingly fearful for the future of credit suisse. it was eventually bought by its swiss rival, ubs, in what was described as an emergency rescue. the $3 billion price tag was a mere fraction of what the bank would have previously been valued. let s get more now from russ mould, investment director at aj bell. worryingly for the bank, desposits are still being withdrawn. how significant is that? hello, yes, they did say they feel that the outflows are st
last little while we have heard that israel has proposed hosting the rival sudanese leaders for talks. so the israeli foreign ministry are just saying that any last little while, just that one sentence, a whole flurry of international efforts to get a truce. all of them have failed so far, but israel now proposing hosting rival sudanese leaders for talks, so we will keep an eye on that development. whilst we were hearing from andrew mitchell in the house of commons, we were also getting the latest views from us secretary of state. worth going through the key conclusions he has been talking about because he says the state department continues to be, in close communication with us citizens to provide information on possible departure routes, including americans travelling overland in the un convoy to port sudan. dozens of american nationals, he says, have expressed interest in leaving sudan. he also has said that the sudanese people are not giving up on the democratic future an
there was a time, before the war in ukraine, when europe thought about its place in the world, and how it could become less dependent on the united states. as washington turned inwards, and administrations refocused us foreign policy towards asia, france and germany talked about the need for strategic autonomy . but today in warsaw, at a meeting of the bucharest 9, it was the american president sat at the head of the table. all nine members of this group were part of the former soviet union or the defunct warsaw pact. the commitment of the united states to nato, i ve said it too many times, i ll say it again, is absolutely clear. article five is a sacred commitment the united states has made. we will defend literally every inch of nato, every inch of nato. and this is an important moment. i look forward to the discussion, the next steps we can take together and to keep our alliance strong and to further deter aggression. because what literally is at stake is notjust ukraine,