there were sharp losses in early trading, although banking stocks have since rebounded slightly. ubs is currently up 3.5% let s take a look now at how the markets are performing more broadly. trading began in the us an hour ago. we can see the dow is up, the snp 500 also on 5.2%. in asia and in europe, there was some initial fright taken by investors, particularly because certain bondholders in credit suisse have lost all the value of their investment, but by the middle of the trading day most european indices were trading positively again. now, one aspect of the deal was that any investor holding additional tieri bonds, or ati bonds, in credit suisse will get nothing. that s more than 15 billion euros written off. it spooked the whole ati bond market which is worth more than 200 billion euros. let s discuss this in more details with dan kemp, global chief investment officer at morningstar investment management. why is the burning of these bondholders so controversial? that
it s revealed that almost 400 hotels across the uk are now being used to house asylum seekers at a cost of £6 million a day. and why something fishy has been going on after the body of a rare shark was discovered on a beach in hampshire. and coming up on the bbc news channel. facing a length ban aleksandar mitrovic s moment of madness means he could be out for a significant part of fulham s season. good afternoon and welcome to the bbc news at one. for the increasingly isolated russian leader vladimir putin, it is a hugely significant moment the chinese leader xijinping has travelled to moscow to meet him. president xi says today s state visit will give new momentum for relations between the two superpowers. mr xi will be the first foreign leader to shake vladimir putin s hand since an international arrest warrant was issued for the russian president on war crimes charges. 0ur russia editor, steve rosenberg, reports from moscow. when xi jinping arrived you could tell
fredricka reynolds used to do all the flowers for the weddings, but in an instant, that key part of her business was snatched away. they rang me on the thursday before the asylum seekers came on the monday, and cancelled all my weddings for the foreseeable. that s a huge amount of work and income to me. and she told me it s notjust the loss of thousands of pounds. me and my boys used to go swimming every saturday there. i ve got two little ones and every time we drive past there, they want to go swimming and, unfortunately, that s closed now. because of the small boats crossing the channel, the number of asylum seekers in hotels has gone from 3,000 to 51,000 in just three years. it s the government policy that almost no one is in favour of not even the government and it s costing the taxpayer £6 million a day. daniel sandford, bbc news, kegworth. more than 100 metropolitan police officers, who are being investigated for domestic abuse or sexual misconduct, are being allo
my dearfriend, says president putin as he welcomes china s president to moscow at the start of a and coming up on the bbc news channel. calls for fulham s aleksander mitrovic to face a lengthy ban, after his red card for pushing the referee during their fa cup exit at manchester united. the reappearing bubbling pools close to where hs to tunnelling good evening and welcome to the bbc news at six. the head of the united nations, antonio guterres, says humanity is on thin ice and that thin ice is melting quickly. he has called the un s major new report on climate change a survival guide for humanity . it sets out the deadly risk from a warming planet, heatwaves, flooding, rising sea levels. it warns that by the next decade the world is likely to miss a key target to keep global warming to 1.5 degrees celsius above pre industrial levels. but it says that rapid cuts to carbon emissions now could still make a difference. and it calls for the adoption of new technology to remove
forecast for europe. the chinese president xi visits moscow, his first visit since russia s invasion of ukraine. in 20 years since the us led coalition invaded iraq to topple dictator saddam hussein. we look at the legacy. the un secretary general antonio guterres has hailed a major new report on climate change as a survival guide for humanity . climate scientists from intergovernmental panel on climate change said clean energy and technology can be exploited to avoid the growing climate disaster. but they also warned a key global temperature goal will probably be missed. they say the world is expected to warm above 1.5 degrees centigrade by the early 2030s. rescue dogs try to sniff out the bodies of the more than 250 people who are reckoned to have died after a tropical storm ripped through malawi this week. storm freddy is likely to be the longest lasting tropical cyclone on record, say meteorologists. today s report says climate change is likely to intensify tropical stor