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 to add to its woes, a massive amount of deposits were withdrawn in the three month period.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 worryingly for the bank, desposits are still being withdrawn.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
Also this hour, how Climate Change is transforming the british garden. They will be looking at new techniques because of rising temperatures. And looking for love online one rhinos search for a partner on the dating app tinder. Good morning. Welcome to bbc Newsroom Live. The labour party has switched its Election Campaigning to the nhs today pledging to give a bigger pay rise to nhs staff in england if it wins The General Election. Labour says it would scrap tuition fees and Restore Bursaries for Student Nurses and midwives which are due to end in august. The party says it would end the current 1 cap on Wage Increases, in part because nhs staff had been undervalued, Overworked And Underpaid by the government. Labour says. And it says its policies would be paid for by reversing Corporation Tax cuts. The party says a Labour Government would also introduce tougher rules to ensure that Staffing Levels in hospitals are safe. The Shadow Health secretary, jon ashworth, said the money was ther
worryingly for the bank, desposits are still being withdrawn. how significant is that? hello, yes, they did say they feel that the outflows are stabilising, but not stopping. you are quite correct. after that $69 billion outflow in the first quarter, money is still seeping out. to look at the money in swiss francs, the deposit peaked at 4 billion swiss francs two years ago, they are 166 billion now, so clearly it wasn tjust investors losing faith in the bag, it was its customers and that was the most important reason why it eventually fell into the hands of its bitter rival, ubs. fell into the hands of its bitter rival, ubs. ., , rival, ubs. and for the time being, althou:h rival, ubs. and for the time being, although ubs rival, ubs. and for the time being, although ubs has rival, ubs. and for the time being, although ubs has bought - rival, ubs. and for the time being, although ubs has bought credit - although ubs has bought credit suisse, they are still functionally separate.