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A very good morning for you both. Virus continuing to strengthen. Why no cure . We will be talking about where there are positive moves to be made. We expect litigation costs to fall. Number should occur. We are going to focus on it in just a moment. Now isu need to k portugals central bank has taken control. Israel has announced the seven hour ceasefire with gaza. This follows yesterday which included chilling of the United Nations shelter. The ceasefire would occur from 10 00 until 5 00. Portugals central bank has taken over. Amounting tos 5 billion euros. It is still a costly venture for the country. Essentiallyit works. The Portuguese Central Bank is taking control. This was financed by its biggest bank. Then when they are ready they the juniort. Bondholders have those parts. It is an empire a compass thing encompassing so many things. Positive is that it has bee ....
From bloomberg here in london. The banks are a big theme in europe. What me assure you of that. Is gettingito santo a bailout from portugal. Profits fell by 12 . That missed analysts asked him its estimates. Lets figure out what is going on. Jonathan ferro and manus cranny are with me. Bes, it looks so simple. I dont think it is that simple. You have a bailout. You have some money left over from the bailout support to recapitalize the banker in that goes to read capitalize the bank. Are going toeople bear the brunt like the shareholders. A lot of analysts are saying. My take away is within two share price has dropped 70 . You have seen a bailout. This has played out in almost no time at all. This is just before those stress tests later this year. Despite the fact that there is a clear sovereign link, this money is coming from the lens of resolution fund. How is the fund being funded . By the government. Offhis bank will get spun and people will get shares again. It will get sold off. L ....
Survivors in after the earthquake. Plus on the program, aaron joining us. The bank bailout is back aaron. Portugals biggest bank taps into funds to the tune of 6. 5 billion. It will be split into a good and bad bank. Its the first time european bailout rules is tested. The idea is to make sure investors are not just taxpayers feeling the brunt when the bank fails. Its midday in london, 7 00 a. M. Washington, 2 00 p. M. Gaza where a seven hour lull in military operation is underway. We have reports its been breached already. Health officials tell us an 8yearold girl died in gaza city in an air strike that took place minutes after the so called truce came in effect. It happened in a part of the gaza strip that was supposed to be safe in the lull in fighting. This pause of hostility doesnt apply in rafah where israeli troops are present. Its not recognized by hamas who accused israel of trying to divert attention away from what they call israeli massacres. It comes a day after ten palesti ....