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by about twice the global average. it s already increased by 2 degrees celsius. 20 years since the us led coalition invaded iraq to topple dictator saddam hussein, we look at the legacy. hello and welcome to bbc news. the world s financial markets have reacted with unease following last night s emergency takeover of the troubled swiss bank credit suisse. shares in credit suisse fell by more than 60% this morning after european markets opened and the value of banking shares across europe have dropped sharply. credit suisse was bought by fellow swiss bank ubs after a deal brokered by the swiss government. here s the chief executive of ubs explaining the rationale behind the deal. translation: it means we bring back stability and security for credit suisse clients, but also that we keep the reputation of the swiss financial centre high. and finally it means we are stemming the turmoil in the international financial markets. these three goals are very, very important to u ....
Newsnight s Nicholas Watt reports from tees valley. An icon of a vibrant industrial past, now out of action, symbolising an area struggling to find its feet. Tees valley, an infant hercules in its days as a World Capital of iron and steel making, is now clearing sites of past glories and looking for new ventures. A painful process with economic decline, alongside pockets of affluence. That has placed this area on the National Political map, and now a mayoral contest with high stakes for the two main parties. A Rumbustious Conservative mayor became the first poster boy of the redwall, after his narrow win here in 2017. Re elected in a landslide in 2021, ben houchen is now hoping to buck the national trend. A local labour stalwart hopes to win back what wa ....