Stay updated with breaking news from Banking stocks. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
let s now get down to business and the drama that let s now get down to business and the drama that has let s now get down to business and the drama that has been unfolding over the weekend in switzerland is dominating once again. they ve had fraught negotiations as the authorities, the central bank and leaders of two of its biggest banks tried to reach a deal to prevent another damaging financial crisis. late on sunday it was announced. the troubled bank credit suisse has been taken over by its rival ubs in a government backed rescue worth over $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and in the us. switzerland s central bank wanted to prioritise financial stability and protect the swiss economy. here s the chief executive of ubs. translation: it means we bring back stability translation: it means we bring back stability ....
paula. it s just a very scary time in our country. asking for trouble. team trump trying to fire up his base, as he faces possible indictment within days. and joining forces, the world s biggest central banks team up to keep the cash flowing and stave off a possible financial crisis. all right. welcome to our viewers in the united states and around the world, i m christine romans. good monday morning to you. in just 90 minutes, china s leader xi jinping arriving in moscow for a state visit including a one-on-one meeting with russian president vladimir putin. overnight, the two leaders published articles written for audiences in each country. the pieces highlight the trust in cooperation, and credit china for promoting peace in ukraine. cnn s salma abdelaziz following the story live from london for us. salma, what s the purpose of xi s visit? and what is putin looking for from china? reporter: well, for president xi who has, of course, secured that unprecedented ....
firefighter or any of you in this room. so my plan is to make sure that corporations begin to pay their fair share. president joe biden pitches his budget proposal that he says will lift the burden off families across america. we ll explain, though, why this plan is more about campaign messaging than the actual numbers. plus, there are significant new developments that signal that donald trump could soon face criminal charges in the state of new york. and also ahead we ll dig into the cia s latest assessment of vladimir putin and the future of the war in ukraine. good morning and will welcome to way too early on this friday, march 10th. we re going to begin with the strongest indication yet prosecutors are nearing an indictment of former president donald trump. the new york times reports that the manhattan district attorney s office has now signaled to attorneys for the former president that he could face criminal charges. the paper cites four people with know ....
turmoil is spreading. credit suisse will borrow almost $54 billion from swiss bank. the bank stock surging in the first few minutes of trading today in europe as shares plunged to a record low on wednesday after getting cut off by its biggest shareholder. anna stewart is live in london. markets are now open there. what is the latest? reporter: i think that we re seeing a bit of relief now on the european indices particularly with the banking stocks. let me show you how the european market opened. all the major indices are higher by around a percentage point led by the smi in switzerland. credit suisse closed down yesterday 24%. and today you will see share price is now up around 23%. i think some investors saw a little bit of value early this morning as a result of what the swiss central bank has decided which is that they would provide liquidity back stop and credit suisse have taken them up on that offer, $53 billion in terms of the loan. and they will be buying bac ....