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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 ....
this week s actions demonstrate our resolute commitment to insure that our financial system remains strong and that depositors savings remain safe. paul: let s bring in jason trender, chairman and ceo of an investment strategy firm. jason, quite a week in financial markets. you know, the treasury secretary says all is well, safe and sound, but the markets aren t acting like it. just how big a question a problem is this in the banking system? well, paul, we don t know yet, but i think that, you know, history has taught us that, generally speaking, when there are problems like this in the banking system, they re not they generally don t tend to be isolated. i feel very strongly that in many ways the precursor for this has been 12 the years of i would say borderline irresponsible monoair the policy and fiscal policy paul: right. and so in some ways, it s not surprising that when inflation moves higher as a result of those policies, that people get caught offside ....
extraordinary effort to reassure americans that the u.s. banking system is safe plus, poland is set to become the first country to send fighter jets to ukraine. it comes amid new reporting that china s leader will visit russia next week. those new developments are also straight ahead. and donald trump goes off on a frenzied defense amid a series of investigations. we will have the latest on the probes involving the former president. good morning and welcome to way too early on this friday, march 17th happy st. patrick s day. i m jonathan lemire. thanks for starting your day with us. in the words of cnbc, wall street rides to the rescue 11 of the country s largest banks are depositing a total of $30 billion to first republic bank to avoid a third collapse of the u.s. bank in less than a week first republic serves a similar clientele as silicon valley bank and signature bank, both of which failed in recent days. those banks had a high number of uninsured deposit ....
senegal celebrates the rich traditions of the continent s fabrics and textiles with some of africa s leading contemporary designers. welcome to world news america, in the uk, on pbs, and around the globe. we start in france, where hundreds of protesters have filled the vast square opposite the parliament building in central paris. they started fires and chanted their opposition to the government s move to push through unpopular pension reforms without a parliamentary vote. president emmanuel macron opted to invoke a controversial article in the french constitution, after a frantic series of meetings with close aides and ministers revealed he d lose a potential vote. the french prime minister elisabeth borne was booed as she arrived in the national assembly to announce that the government would trigger article 49.3 of the french constitution. a short while ago our correspondent hugh schofield joined us from outside the parliament building. hugh schofield, the use of ....
international rival is being tied to a number of major stories this evening. china is pushing back on a threat by u.s. officials that the social media site tiktok could be banned country wide if chinese investors do not sell their interest. there is also word american banks may have to reimburse companies in china for losses from the collapse of a major u.s. financial institution. allegations that several members of president biden s family received payments from a chinese energy company. we will take you to capitol hill. and new information about what china may be doing inside ukraine. we have fox team coverage tonight. jacqui heinrich at the white house with the tiktok story and the ukraine angle. chad pergram on capitol hill tells us about the chinese ties to silicon valley bank but we begin with senior national correspondent rich edson who has new information coming out of the hunter biden investigation. good evening, rich. rich: good evening, bret. the chairman j ....