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hello and welcome to bbc world news. the government of switzerland says that the country s biggest bank, ubs, has taken over its troubled rival credit suisse in an emergency measure designed to protect the swiss economy. fears about the possible collapse of credit suisse sparked falls in stock markets around the world over recent days, and raised fears of another global financial crisis. the rescue deal follows a weekend of emergency talks between the two banks, after credit swiss saw its value plummet over the past week. the swiss national bank said the deal was the best way to restore the confidence of financial markets and to manage risks to the economy. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it s early days. but i don t think it s going to be easy. ubs is the bigger of the two, but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, more in a big city lik ....
What it has not done is produce strong government and stability, which is the kind of thing iraq desperately needs if it s to try to revise. this should be a rich country, it has massive deposits of oil. , , . ~ country, it has massive deposits of oil. , , ., ~ ,, country, it has massive deposits of oil. , ., ~ country, it has massive deposits of oil. , ., . ., oil. jeremy, thank you so much for our oil. jeremy, thank you so much for your insight- the historicjohn lewis chain of department stores is looking into selling a minority stake of the business for the first time. the high street retailer, which first opened in 186a, is currently jointly owned by its staff. but the bbc understands the company s chair, sharon white, is looking into changing the business model in order to attract new investment. it s believed the plan is in its very early stages and no agreeement has been made. john lewis says staff will be the first to hear about any changes. a little earlier, i spoke to pete ....