by about twice the global average. it s already increased by 2 degrees celsius. 20 years since the us led coalition invaded iraq to topple dictator saddam hussein, we look at the legacy. hello and welcome to bbc news. the world s financial markets have reacted with unease following last night s emergency takeover of the troubled swiss bank credit suisse. shares in credit suisse fell by more than 60% this morning after european markets opened and the value of banking shares across europe have dropped sharply. credit suisse was bought by fellow swiss bank ubs after a deal brokered by the swiss government. here s the chief executive of ubs explaining the rationale behind the deal. translation: it means we bring back stability and security for credit suisse clients, but also that we keep the reputation of the swiss financial centre high. and finally it means we are stemming the turmoil in the international financial markets. these three goals are very, very important to us. we
the financial times is reporting that the country s biggest bank, ubs, has offered to buy credit suisse for up to one billion dollars, although bloomberg reports that credit suisse sees that as vastly undervaluing the bank. the swiss banking giant had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. it had been offered an emergency credit facility of more than 50 billion dollars by switzerland s central bank but that had not prevented a sharp fall in its share price. more now on one of our main stories this hour a potential takeover of the struggling credit suisse bank by another swiss based bank, ubs. let s get the latest now from our correspondent in switzerland imogen foulkes. what is the latest on these stories to try and shore up we hearing a lot of things but i can tell you the crisis talks taking just on the road from me in berne financial authority of the banks, people are being very tight lip
vladimir putin, has visited the ukrainian city of mariupol. it s the first time he s ventured inside territory seized by russian forces since last years invasion. his visit, under cover of darkness, has been fiercely criticised by the exiled council of the southern port city, which has seen some of the fiercest battles of the war. i m joined now by the ukranian mp for kharkiv, maria mezentseva. thank you for being with us. what you make of this visit by president putin? well, nothing spectacular really. it is one of the first visit to the occupied territories that president putin has conducted. this is the scene of a brutal invasion. and i am looking at the footage of him sitting all alone in the filler monarch building, and russian authorities are claiming that they have restored the building etc, we are asking, what has been done regarding the cleaning of the green seeds over their quest but this is not a joke for us at all. apart from criticising that visit, i am linking i
russian fighter jet crashed into an american drone forcing the military to ditch it in the black sea. john: it marks the first direct encounter between the two countries since putin s war began a year ago. a whole lot of questions that demand answer as america reports rolls into its second hour. i m john roberts in washington. here we go again. sandra: john, here we go again. lot of live events expected this hour. we ll be watching for them. we re gonna bring you that news conference live right away. attorney general kellogg is standing by. he said he is fired up. he will be here to react to what we hear from that news conference. first this fox news alert. john: massive selloff continuing on wall street as investors get more skit tisch about the banking industry. painful inflation showing no signs of letting up. there could be more trouble for the banking industry on the way. right now fear is growing that switzerland s second largest bank, credit suisse, could be on t