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Transcripts For BBCNEWS BBC News 20240706



hello and welcome to bbc news. banks and governments around the world are nervously watching the european markets to see if the crisis surrounding credit suisse will develop into a global banking crisis. so far things seem reasonably calm with shares in credit suisse rising almost 30% after the swiss national bank gave it a lifeline. but there are concerns that a potential interest rate rise later on thursday by the european central bank could add further volatility to the situation. earlier our business presenter sally bundock explained why the situation at credit suisse was notjust important to the financial community but to all of us: a real worry about credit suisse. if that bank, which is 160 odd years old in switzerland, were to fail, it could have the same effect that the lehman brothers collapse had in 2008, which is it brings a huge amount of fear within markets about the stability of other banks. so people therefore act very quickly and remove their funds from ....

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Transcripts For BBCNEWS BBC News 20240706



the british prime minister has sacked the chairman of his party, nadhim zahawi, following an investigation into his tax affairs. mr zahawi says he ll continue to support the prime minister from the backbenches, and criticised journalists for the way they reported his tax affairs. here s our political correspondent david wallace lockhart he arrived in the uk as a young refugee before becoming a successful businessman. he served as the vaccines minister, rising to become chancellor, this morning he was chairman of the conservative party but his ministerial career now lies in tatters. he had faced questions for some time about his previous tax affairs and the fact he paid a penalty to hmrc while he was in charge of the treasury. he insisted he acted appropriately throughout. the prime minister had asked his ethics adviser to investigate. sir laurie magnus reported back this morning. his findings were highly critical. in a letter to rishi sunak he said from april 2021 nadhi ....

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