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Hello and welcome to the progamme. switzerland's biggest bank ubs has agreed to take over its troubled rival credit suisse. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago of america's silicon valley bank. here's the swiss president speaking earlier. on friday, the liquidity outflows and market volatility showed it was no lon...

In singapore, this is bbc news. it's newsday. hello and welcome to bbc news, broadcasting to viewers in the uk, on pbs in the us, and around the world. a weekend of emergency talks has concluded with switzerland's biggest bank, ubs, agreeing to take over its troubled rival, credit suisse. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty, triggered by the collapse, nine days' ago, of america's silicon valley bank. here's the swiss president alain berset speaking earlier. on friday, the liquidity outflow...

Biden is asking Congress to give the Federal Depository Insurance Corp greater authority to claw back compensation.

Purposes and they all got in trouble at the same time and depositors needed money at the same time. we don't see that across the whole company. we have a tech start-up downturn and it caught these two banks up. going forward, there's less of a risk of seeing a lot of these. >> let's get your take on this exchange between secretary yellen and senator elizabeth warren. we're all waiting to see what the fed does on the -- we expect the back end of this turmoil within the banks. but we heard from, give that to me again. i will just read it. she said over the last few days we have heard a lot of re...

Florida republican senator marco rubio today suggested giving the unmanned drones wingmen. >> i think our response should be to fly more of these in that area and to potentially have them escorted by u.s. fighter jets, who are manned and have the capability to respond. >> reporter: but white house officials that that would bring great risk to american pilots and the potential to escalate the crisis. some of the drone wreckage found along the surface of the black sea was recovered today by russian ships, but they have since left the area because it is within mitchell range of ukrainian forces. ...