the temperature up here in the alps is rising by about twice the global average. it s already increased by 2 degrees celsius. and 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 rival swiss bank ubs in a deal brokered by the swiss government over the weekend. 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. because inflation has come back we have seen a major sea change in the interest rate backdrop, the federal reserve and others all raising rates and that has created a huge change in a backdrop in terms of the lending environment and that is part of the reason why we saw the collapse of silicon valley bank, that has caused quite a bit of nervousness, and some panic. there was a run on that bank and now the woes facing credit suisse have intensified in the last few days, saying it faced material weakness in its financial statements, its biggest backer saying it was not ready to provide financial support, rather unfortunate timing that we have had these two events around the same time and of course that can lead to emotions amongst investors, like you say, can be an element of panic selling by the blessing to do is keep calm and carry on. finally, what does is keep calm and carry on. finally, what does this is keep calm and carry on. finally, what does this mean is keep cal
Much bigger number. so anyone who thinks that there is a parallel universe what is actually going on, big meetings in paris and glasgow and so on is making a difference, has to explain why it has not made almost any difference for 30 years. wright i was at the kop in glasgow reporting on that. if wright i was at the kop in glasgow reporting on that. wright i was at the kop in glasgow reporting on that. if you could have bottled the reporting on that. if you could have bottled the atmosphere reporting on that. if you could have bottled the atmosphere that - reporting on that. if you could have bottled the atmosphere that was i bottled the atmosphere that was there, you would have thought something was going to happen cop. the other side of the brain, the parallel universe, to use your analogy, thanks it is all very well talking about this at an event like a cop, to something else to put the policies in place on a governmental level to make change. so how do you think, do you thi
Climate, you need to visit the alps. europe s highest railway takes you high into the mountains. the greenhouse gases emitted since the industrial revolution have already raised global temperatures by a little over one degree celsius, but up here, the effects have been much greater. the temperature up here in the alps is rising by about twice the global average it s already increased by two degrees celsius, and it is having a devastating impact on the snow and the ice up here. near the top of thejungfrau mountain in switzerland is an observatory and weather station. built almost 90 years ago, they ve been monitoring the changing alpine climate here for decades. it s even raining in summer up here now. 30 years ago, it was never raining up here just snow. and there was a humidity, but now it s raining several days. and that is a big change.
Precise themes in the peace plan proposed by china that will be under discussion, of course we don t know yet, but this is obviously an opportunity for president xi to hear first hand from vladimir putin. president xi arriving for a state visit to moscow. we will bring you much more coverage of that here on bbc news. we re just hours away from the release of the most comprehensive assessment yet on climate change. environmental scientists around the world spent the last eight years analysing evidence about the climate crisis. their work for the united nations will be revealed at a meeting in switzerland today. and as our climate editorjustin rowlatt has been discovering, in the alps there is already clear evidence of dramatic change. if you want to experience our future