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 to add to its woes, a massive amount of deposits were withdrawn in the three month period.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 worryingly for the bank, desposits are still being withdrawn.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
Business and government voting is under way in south korea, but will new leadership make a difference this time . And, the wasteland. American Shopping Mauls are deserted and retailers are suffering, so what is President Trump planning to do about it . Welcome to World Business report. Im sally bundock. Also in the programme, Rico Willjoin us from singapore hes seen the latest International Monetary fund report on asian economies. But first, today, the people of south korea are voting for a new president. The election comes after the former head of state Park Geun Hye was removed from office as part of an Ongoing Investigation into corruption. The south korean economy bounced back strongly following the 2008 financial crisis, but in recent years, quarterly growth has struggled to break above 1 . The current frontrunner, moonjae in, has vowed to boost Government Spending and create over 800,000 newjobs in the public sector. His main rival Ahn Cheol Soo feels the government should be mor
Re elected. Now all the latest Business News live from singapore. Apec Trade Ministers gear up for a busy weekend in vietnam, as it faces restructuring of major trade agreements. And who knew what you could do with used Coffee Grounds . Good morning, asia, hello, world. Glad you could join us for this edition of Asia Business report. Im rico hizon. Trade ministers are gathering in vietnam this weekend and the person they will be wanting face time with, americas new trade representative, who is in charge of president trumps America First policy. Earlier i spoke to the Executive Director of a segment of apec and he told me what ministers are keen to find out. We are pretty interested to talk to the United States trade representatives and have him come and elaborate for us some details of us trade and other related policies. We are pushing ahead with a lot of initiatives in apec. It is a pretty important time. We have to have more clarity on what the us will be supporting, where their sen
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