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
hello and welcome to bbc world news. 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. fears about the possible collapse of credit suisse sparked falls in stock markets around the world over recent days, and raised fears of another global financial crisis. the rescue deal follows a weekend of emergency talks between the two banks, after credit swiss saw its value plummet over the past week. the swiss national bank said the deal was the best way to restore the confidence of financial markets and to manage risks to the economy. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it s early days. but i don t think it s going to be easy. ubs is the bigger of the two, but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, more in a big city like bern
under your pillow, what are your thoughts? 50 under your pillow, what are your thoughts? under your pillow, what are our thou~hts? ., , your thoughts? so we have been on day two. your thoughts? so we have been on day two, today, your thoughts? so we have been on day two, today, thursday, . your thoughts? so we have been on day two, today, thursday, of| on day two, today, thursday, of the budget. the big picture thing is that some of the think tanks, westminster s brains beyond government have been crunching through it and they have concluded what many a newscaster will know as the kind of bleeding obvious really, but they presented in the spreadsheet and the rest of it, which is that times are really tough people, that wages are squeezed, living standards are squeezed, living standards are squeezed, living standards are squeezed, that household income is squeezed and will be for a while, that the tax burden is the highest it has beenin burden is the highest it has been i
westminsters s brains beyond government have been crunching through its, and they ve concluded what many a newscaster will know, it s the kind of the bleeding obvious, really. they present that times are really tough for people that wages and living standards and housing income are squeezed and will be for while. the tax burden for the highest it has been for a while and will be for a while as well. as we were discussing on the last edition of the podcast. a lot of the budget was quite nerdy and in the weeds. there was a discussion around childcare in england that we talked about. the arguments about pensions for very well. doctors and others to train and encourage them to work and not retire and spend time in the golf course. since then, the political discussion has moved on a bit with the announcement we were talking about with tiktok. what is hope for within government and some of the union resolution to some of the nhs disputes and strikes we ve seen in the last few month