trouble in the valley? financial stocks slump as investors move to withdraw their deposits from silicon valley bank, a key lender to start ups. and the uk grows more healthily than expected injanuary but the government warns there s still a long way to go to restore stability. welcome to world business report, i m tadhg enright. we start in the us with a story causing some worries on financial markets. silicon valley bank has been trying to reassure its clients their money is safe after a 60 per cent collapse in its share price since wednesday. svb has been a key lender to many tech start ups the likes of airbnb and linkedin but questions have been raised about its financial health after it launched a huge share sale to raise money. joao da silva has the details. svb dropped massively overnight as the bank revealed it lost $1.8 billion and the folio of securities valued at around $21 billion. as a result of those losses, the bank was forced to rage cash by a huge share sa
is lying in state at the vatican. a warning from the international monetary fund, it says a third of the world will be in recession this year. and a hearse carrying pele s coffin has made the journey from sao paulo to santos where the brazilian football legend will lie in state ahead of his funeral on tuesday. hello and welcome to the programme. ukraine says russia attacked kyiv with waves of explosive drones overnight, targeting critical infrastructure. the military said air defence forces shot down all 39 iranian made drones. but the mayor of kyiv, vitaly klitschko, said energy facilities were damaged, disrupting power and heating supplies. our correspondent hugo bachega is in the ukrainian capital kyiv and has the latest. so the mayor said one person was wounded when debris fell from a drone intercepted by the country s air defence forces. now, it was the second night in a row that the air raid alert sounded here in kyiv. people were told to go to shelters and obviously,
For more win win results. Hes expected to be making the case for the enabling of a self driving feature on tesla cars in china as the Electric Car Giant faces falling sales and increased local competition. For more on this, we can go live to our china correspondent Stephen Mcdonell in beijing. It was quite a few are when he arrived. He wasnt expected and he showed up in china. figs arrived. He wasnt expected and he showed up in china. 5 a arrived. He wasnt expected and he showed up in china. He showed up in china. As a bit of a mystery he showed up in china. As a bit of a mystery as he showed up in china. As a bit of a mystery as to he showed up in china. As a bit of a mystery as to what he showed up in china. As a bit of a mystery as to what this of a mystery as to what this trip is really all about. If you have a look at elon musk s feed on his own acts formally twitch our Social Media Site and just scroll through the last 2a hours, it is all the right wing conspiracy theories and v
Referee in a competitive match in england. Good evening, well have the latest on andy murrays hip surgery in melbourne in a moment, but we are going to start in australia. In sydney it wasnt a whitewash but england have lost the ashes series 4 0 after an innings defeat in the 5th and final test match in melbourne this morning. They lost the fifth test by an innings and 123 runs. The urn returning to australian hands after a comprehensive win for them. Patrick geary is in sydney. A storm has broken over sydney, but way too late to save england. They we re way too late to save england. They were done by mid afternoon. Coming to the ground today with only six wickets in hand, they knew this would be a tough day. For the captain in particular, it was sickening. England have had three weeks to prepare for these pictures but that will make them no easier to watch after a stomach churning series, queasiest of all, joe root who arrived at the ground having spent the morning in hospital with a