welcome to our viewers on pbs in america and around the globe. the swiss central bank has agreed to provide a loan of more than $50 billion to the troubled banking giant, credit suisse, if needed. shares in the bank have plunged 24%, sparking a wider sell off in european stocks, which closed down more than 3%. it comes days after the failure of silicon valley bank in the us. our correspondent, michelle fleury, has more. hopes that the problems of us banks would stay in the us have not panned out. shares in switzerland second largest bank credit suisse dropped to record lows. we should point out that credit suisse is a bank that has been terminal for years. credit suisse is a bank that has been terminalfor years. as one analyst put it it has been a slow moving car crash. two new things have happened to spook investors. the bank said there was material weakness in its financial reporting and its top supporter ruled out lending it any more money. all this adds to concerns about
a very warm welcome to the programme. we begin here in the uk. it is the morning after that budget. the chancellor has insisted his first budget is transformational and will get people back into work. jeremy hunt set out major changes to pensions and benefits, as well as an expansion of free childcare in england, all designed to boost economic growth. the new pension tax rules will allow higher earners to save more into their pensions, tax free. the opposition labour party has said it s the wrong priority for the wrong people. emma simpson reports. at this nursery in south east london working parents like charlie love the idea of 30 hours of free childcare for those nine months and over in england. her daughter, dorothy, will hopefully qualify. will hopefully qualify. other to - line, will hopefully qualify. other topline, ecstatic, will hopefully qualify. other topline, ecstatic, i ve - will hopefully qualify. other topline, ecstatic, i vejust i topline, ecstatic, i v
hello and welcome. prime minister liz truss will try to save her leadership this week as three conservative mps publicly call for her resignation. it comes as all eyes are on the markets this morning after the appointment of new chancellorjeremy hunt on friday. our political correspondent ben wright reports. fighting for her political survival, today she will try and show she is listening. as the chancellor works in the new government budget the prime minister will hold a reception for her cabinet this evening to hear their views about what should go into it. tax rises and spending cuts are clearly in the mix, and the plan will be presented to parliament in a fortnight. the prime minister has very little time to convince financial markets and her party that she has a plan for restoring stability. but some tory mps are run out of patience and are calling for liz truss to go. can liz truss survive? no, i think the game is up and know it isjust no, i think the game is up and kno