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CNN CNN This Morning June 4, 2024 10:12:00

It agreed to buy credit suisse in a bid to slow the banking crisis. ubs is paying $3.25 billion for its ailing rival, 60% less than what the bank was worth when the markets closed on friday. credit suisse has face add crisis in confidence. it came to a head when we saw shares collapse some 30%. that in turn prompted authorities to have a backstop for the second largest bank. fears of the collapse gripped the global markets which brings us to the news conference yesterday when the suisse finance manager said this. the bankruptcy of an important bank will have irreparable turmoil in switzerland and throughout the world. the federal council, ubs take cover of credit suisse has laid the foundations for greater ....

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BBCNEWS World Business Report June 4, 2024 14:36:00

Meeting on wednesday, now the expectation is maybe it will be a quarter percentage point hike or may be nothing at all, given what is going on and the fact that we ve seen the federal reserve deploying some of its toolkit over the weekend, providing more liquidity to other european central banks to make sure they have access to us dollars, suggest that i don t think this problem is contained and therefore it might be a bit perverse to continue to raise rates at the same time that you are rolling out other backstop measures. time that you are rolling out other backstop measures. thank you very much, michelle. let s shift gears and talk about the environment now: a major new report today has again warned that the world must act now to avoid a climate change catastrophe. climate scientists from the intergovernmental panel on climate change or ipcc have warned that a key global temperature goal will probably be missed; that s the target to restrict global warming to 1.5 celsius by t ....

Michelle Fleury , Intergovernmental Panel On Climate Change , Backstop Measures , Shift Gears , Climate Change Catastrophe , Carbon Cuts , Global Warming , 1 5 ,

BBCNEWS BBC News June 4, 2024 12:10:00

Normal circumstances if an offer came, even a distressed bank would have to be put to shareholders and have to be put to shareholders and have a vote on it and that is in the constitution. presumably notjust constitution. presumably not just credit constitution. presumably notjust credit suisse shareholders that ubs shareholders. do we want shares at risk by taking on this problem by? absolutely and as we were hearing earlier two main banks here that some will be queasy or covered with prospects of creating a super uber bank with liabilities. some of the stumbling blocks here we were discussing were potential liabilities because credit suisse has had this for many years. rich history, abound in the past four years beset by problems of reporting its issues with the financial reporting last week which triggered the whole domino effect so there will be potentially some nasties lurking about they have to deal with so they were seeking some kind of backstop from the government and they woul ....

Credit Suisse , Central Bank , Notjust Constitution , Super Uber Bank , Domino Effect , 1 Billion ,

FOXNEWS The Ingraham Angle June 4, 2024 07:27:00

Bailout. and to all of his friends, and all of these tech companies, green energy companies, democrat donors,l thm they go bail them out to the o tune of millions of dollars, billions of dollars. and then you have no backstop because you re not holding you the banks responsible. you re basically saying you keep going with dgi and esgd wev and helpe us with this and we i got you covered . so i don t think if this were a community bank and i don t know, let s say montana, they would have gotten the same treatment. thank you very much, senator . they would not have now, they would not say, well, is there any institutiony that americans can still trust to act on their behalf and not on behalf of powerful special interests? that s the question. joining me now, tulssii gabbard, former hawaii congresswoman,or 2020 presidential candidate and fox news contributor.at is it hello, tulsi. welcome . hif , kelly . guy thank you. you you know that it seems as if ....

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FOXNEWS Fox News Live June 4, 2024 17:33:00

Run on their own bank so i think stemming the flood waters and trying to calm things down was in their interest. but speaking of big banks jamie diamond famously said after the financial crisis when dodd-frank was rolled out he said this is potentially for smaller banks because owner restrictions for compliance and regulations that is put on banks it make it is virtually impossible for smaller banks to comply because they couldn t afford infrastructure to comply. and i think that s a precursor to where we are today. which is we re going to have haves and have notes and really, really big banks and virtually impossible for small banks to compete. yeah. you know former ftic chair, sheila bair said with the government shawf done here is put a full blanket backstop assuring all deposits at all banks that congress should have done that instead of just deciding to assure that deposits ....

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