today a war criminal, whose name is vladimir putin, visited the scene of a crime he committed for several months. it s been 20 years since the us led coalition began its war in iraq to topple the dictator saddam hussein. we ll assess the legacy. and valencia s streets come to life for a five day festival celebrating the spanish city s culture, history, and people. switzerland s biggest bank ubs has agreed to take over its troubled rival, credit suisse. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. 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 speaking at a press conference. on friday, the liquidity outflows and market volatility showed it was no longer possible to restore the necessary conf
the financial times is reporting that the country s biggest bank, ubs, has offered to buy credit suisse for up to one billion dollars, although bloomberg reports that credit suisse sees that as vastly undervaluing the bank. the swiss banking giant 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 dollars by switzerland s central bank but that had not prevented a sharp fall in its share price. more now on one of our main stories this hour a potential takeover of the struggling credit suisse bank by another swiss based bank, ubs. let s get the latest now from our correspondent in switzerland imogen foulkes. what is the latest on these stories to try and shore up we hearing a lot of things but i can tell you the crisis talks taking just on the road from me in berne financial authority of the banks, people are being very tight lip
to $1 billion, although bloomberg reports that credit suisse sees that as vastly undervaluing the bank. the swiss banking giant 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. our business correspondent marc ashdownjoins me now. an urgency around these talks in switzerland to try and facilitate this takeover by ubs. this takeover by ubs. yes, the shares were this takeover by ubs. yes, the shares were sliding this takeover by ubs. yes, the shares were sliding all- this takeover by ubs. yes, the shares were sliding all last - this takeover by ubs. yes, the i shares were sliding all last week and there was a period of a pause for a couple of days when markets have been shut till tomorrow morning, so this has given them time to sort this out
hello and welcome to the programme. the financial times is reporting that ubs has offered to buy credit suisse for up to $1 billion dollars, although bloomberg reports that credit suisse sees that as vastly undervaluing the bank. the swiss banking giant 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 dollars by switzerland s central bank, but that had not prevented a sharp fall in its share price. our business correspondent marc ashdownjoins me now. where are we up to with these negotiations? fist where are we up to with these negotiations? where are we up to with these negotiations? where are we up to with these ne . otiations? ., ., negotiations? at the moment we have not heard anything negotiations? at the moment we have not heard anything new negotiations? at the moment we have not heard anything new for negotiations?
we ll have a special report. hello, very warm welcome to the programme. the financial times is reporting that ubs switzerland s biggest bank has agreed to buy credit suisse for more than two billion dollars. there s been no confirmation yet of whether the offer has been accepted. it s thought an earlier offer of $1 billion was considered too low. the swiss banking giant 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. our business correspondent marc ashdownjoins me. we spoke a little earlier. it s not offering to billion. offering to billion. they have aareed offering to billion. they have agreed that offering to billion. they have agreed that figure. offering to billion. they have agreed that figure. it s - offering to billion. they