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bbc news. studio in singapore, this is bbc new- welcome to bbc news. our top story today: the us defence secretary says he had a rare phone call with his russian counterpart in the aftermath of a collision between a russian fighterjet and a us drone. the race is now on to recover the wreckage of the drone which is thought to be 1,200 metres deep in the black sea. russia has also said it will try to find the wreckage. meanwhile, america s top general said the whole incident was a result of russia s increasingly aggressive behaviour in the area. us defence secretary lloyd austin gave this update earlier. asi as i have said repeatedly, it is important that great powers be models of transparency and communication. the united states will continue to fly and to operate wherever international law allows. and it is incumbent upon russia to operate as military aircraft in a safe and professional manner. our diplomatic correspondent, james landale, has this report from kyiv. thi ....
Picked up at the breakdown, more downbeat picture. So the acceleration really driven by net exports. It tends to a bigger decline it relative to exports. We look at domestically indicates this, private consumption, government spending, investment, all of this indicates it actually to curated so that sick new rules weakening. Signals weakening. Is the slowdown on china likely to reflect on the numbers here . If you look at exports thats contracted in the fact that china accounts for 20 of korean exports that suddenly imposing a track on the overall Export Sector. If you look at Customs Trade Data today, total korean export revenues have only about 12 year to year. But if you isolate exports to china, that has fallen by 25 . So that is the key driver of the Export Sector will be missed. In the months ahead, what are some ....
And shares are down across the board. ., ,., board. theo leggett reporting on that story. earlier i spoke to fariborz moshirian, professor of finance and banking at the university of new south wales and the director at the institute for global finance. i asked him what has led to the concerns at credit suisse. the reporter has a well covered theissue the reporter has a well covered the issue here is that credit suisse was always on the watch, if you like, for a number of years, for different reasons. last year they made significant loss. we also know that obviously there are signals for liquidity risks were saudi national bank is not willing for instance to contribute more and the bank is looking for more sources of liquidity. people have been very nervous and what is happening with silicon valley bank and other regional banks in the united ....
In banking. in other words, there are issues of interconnectedness, there are issues of which other backs, for instance in europe, would be exposed to credit suisse, and that s where the european banks in general including eurozone banks come into question, not mentioning even asian banks. the market is very nervous for risk contagion and that s the issue that we need to wait and see if another 2a hours, 48 hours to see what emerges. hours, 48 hours to see what emerges- emerges. that was fariborz moshirian, emerges. that was fariborz moshirian, professor - emerges. that was fariborz moshirian, professor of - emerges. that was fariborz . moshirian, professor of finance and banking at the university of new south wales, speaking to me a little earlier. the british chancellor, jeremy hunt, has pledged to build for the future in his first budget, promising it will deliver economic growth. he told mps that the country s financial forecast has improved, and the economy will avoid going i ....
States, so there is a bit of sensitivity in the market and everyone is on the lookout as to whether which other bank would have some other liquidity issue or business models which are not going to be sustainable in a high interest rate environment. i5 in a high interest rate environment.- in a high interest rate environment. , , ., environment. is it possible to sa at environment. is it possible to say at this environment. is it possible to say at this point, environment. is it possible to say at this point, professor, i say at this point, professor, whether this situation can be contained below are looking at a domino effect, where you point out, because of the nervous sentiment, consistently sell of banks they are worried about which leads to more nervousness on markets? the fact that the nervousness on markets? the fact that the swiss nervousness on markets? tue: fact that the swiss central bank has signalled now that they are there to support credit suisse is a very signifi ....