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you are in the cnn newsroom. i m paula reid in washington. jim acosta is off. a major move today in an attempt to halt a global banking crisis. switzerland s largest banking group ubs just agreed to buy its rival credit suisse in an emergency rescue bid. the purchase is aimed at halting investor panic brought on by two sudden u.s. bank failures this month. the deal comes after shares of the ailing bank lost 25% over the last week. even an emergency loan from the swiss national bank failed to stop the fallout. cnn reporter anna stewart will join us in just a moment, and cnn global economic analyst, rana foroohar joins us now. all right, rana, can you explain to us this deal? yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of crises. it s been considered weak in the marketplace. even late last year, it was having its own probl ....
five or ten years being really characterised by a lot of churn and push towards more statism. we remain quite sceptical of the ability to turn the economic fortunes. there have been good signs in the past, a few days that they are a bit more rational, realistic, setting the gross targeted 5% but the end of the day, the composition of the committee is reallyjust where xi jinping is, that shows that politics will be there for a little while longer so we take the news with a grain of salt. i longer so we take the news with a grain of salt- longer so we take the news with a grain of salt. i wonder some of the events matching grain of salt. i wonder some of the events matching away grain of salt. i wonder some of the events matching away from - grain of salt. i wonder some of the i events matching away from mainland china do weigh on the willingness of international companies to continue investing in increased investments investing in increased investments in china. we ....
message from democratic leaders to allies, stop piling on the vice president if they want the party to win next year. plus thank you to the academy. this is history in the making. actress michelle yeoh capping a night of triumph for everything everywhere all at once. big win there. see who else won the biggest awards of the night, ahead. all right, welcome to our viewers in the united states and around the world. i m rowchristine romans. just hours from now, president bide will be speak to the nation about his administration s plan to cool with the failure of two, two banking, silicon valley bank and signature bank, two commercial banks with more than $200 billion in total deposits. tvb a major startup of tech startups. federal officials are desperate to prevent contagion leading to runs on other banks. so far, they ve promised everyone with deposits in those two banks ininsured and uninsured will be able to get the money out and now with the bailout in ....
hello, everyone. collapse and recovery. the white house steps in after two banks collapse. at this hour, families are forced from their homes after a levee breaches and more rain on the way. and also, three women who have not been heard from in more than two weeks. and thank you for joining us, i m kate bolduan. the president is trying to reassure the american people and the financial markets to avoid a full blown financial crisis after the collapse of silicon valley bank. regulators are also abruptly shutting down a bank in new york, signature bank which is on the verge of collapse. that set off a fran ik 48 hours, and the president said this. look, the bottom line is this. americans can rest assured that the banking system is safe. the deposits are safe. much more to this. matt egan, what is next for the two banks? it is shock and awe response from washington, and officials are serious about putting this fire out before it spreads elsewhere. what are they doin ....
Remarks by Secretary of Defense Lloyd J. Austin III at U.S. Indo-Pacific Command's Change of Command Ceremony (As Delivered) globalsecurity.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalsecurity.org Daily Mail and Mail on Sunday newspapers.