it signals concern about the health of the sector, following the collapse of first republic and its acquisition byjp morgan chase. the wall street giant said it would pay $10.6 billion dollars to the federal insurance deposit corp, after officials shut down the smaller bank. first republic had been under pressure since last month, when the collapse of two other us lenders sparked fears about the state of the banking system. meanwhile, the managing director of the international monetary fund kristalina georgieva says she expects more weaknesses to be exposed in the banking sector. so just how vulnerable is it? let s ask the chief global investment officer of oreana financial, isaac poole. i think there is a real risk of that. this is probably not the end of bank failures. we are seeing these problems in the smaller, regional, medium sized banks, really exposed to higher interest rates. we are going to see another interest hike from the fed which might add extra pressure on dep
i m karishma vaswani. we begin with the banking turmoil in the us. shares of several regional banks have closed in the red on monday. it signals concern about the health of the sector, following the collapse of first republic and its acquisition byjp morgan chase. the wall street giant said it would pay $10.6 billion dollars to the federal insurance deposit corp, after officials shut down the smaller bank. first republic had been under pressure since last month, when the collapse of two other us lenders sparked fears about the state of the banking system. meanwhile, the managing director of the international monetary fund kristalina georgieva says she expects more weaknesses to be exposed in the banking sector. so just how vulnerable is it? let s ask the chief global investment officer of oreana financial, isaac poole. i think there is a real risk of that. this is probably not the end of bank failures. we are seeing these problems in the smaller, regional, medium sized banks,
we begin with the turmoil on financial markets today, the pound sterling continues to languish against the us dollar and several other currencies. the slide in its value was triggered by last week s mini budget, with its controversial package of tax cuts. let s get historical for a moment. we have records for sterling against the dollar going back through history, and in the early hours of monday morning it reached an all time low that is since the creation of the us currency in 1792. let s take a closer look at the past few days the dollar has been strong but this further drop down is about sterling weakness, with a bit of a recovery and then falling back again. you can see this dramatic few days, sterling weakness with a little bit of recovery before it fell back again. on friday and monday there were massive moves within a day, which for a currency like sterling is rare. and one of the impacts of a low pound means that we import inflation, oil and gas is more expensi
through the south east during friday night. in two saturday, for much of saturday, high pressure will bring a fine day and it stays fine for the south east on sunday but the next batch of wet weather a lovely day on saturday, a lot of sunshine, sunday turns wet and windy across scotland, northern ireland but it stays fine for part two of the weekend across the south. thanks, stav. and that s bbc news at ten on the 6th of october. there s more analysis of the day s main stories on newsnight with kirsty wark, which isjust getting under way on bbc two. the news continues here on bbc one, as now it s time to join our colleagues across the nations and regions for the news where you are, but from the ten team it s goodnight. hello and welcome to our look ahead to what the the papers will be bringing us tomorrow. with me are the former trade minister, lord digbyjones, and rachel cunliffe, who s senior associate editor for the new statesman. and the energy theme is followed in the i
while europe swelters, the eu is looking ahead to winter, and what to do if russia cuts off gas supplies completely. we need to save gas to fill our gas storages. to do so, we have to reduce our gas consumption. find storages. to do so, we have to reduce our gas consumption. and we will look at sri reduce our gas consumption. and we will look at sri lanka, reduce our gas consumption. and we will look at sri lanka, with reduce our gas consumption. and we will look at sri lanka, with the - will look at sri lanka, with the country has chosen a new president who may be just as unpopular as his predecessor. the next uk prime minister will be either rishi sunak, the former chancellor, or liz truss, the foreign secretary. we reached these two names after several elimination rounds voted by conservative mps. this was the moment we got the result. the numbers of votes cast for each candidate is as followed. penny mordaunt, 105. rishi sunak, 137. liz truss, 113. therefore, rishi