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in the united states where the central bank, the us federal reserve, has raised the cost of borrowing for the tenth time. the quarter percent rise puts the fed s main interest rate at between 5 and 5. 25% the highest it s been in 16 years. but has it done enough to tame inflation? or with banks struggling and recession looming, has the fed gone too far? our north america business correspondent samira hussain reports from new york. inflation remained stubbornly high, to try to get the cost of living back down to more normal levels the federal reserve has raised interest rates ten times in a little over a year, now it seems it may be ready to perhaps take a pause. the committee perhaps take a pause. the committee will perhaps take a pause. the committee will take - perhaps take a pause. the committee will take into account the cumulative tightening of monetary policy, le-s tightening of monetary policy, legs with which policy affects economic activity and inflation ....
the united states and around the world, i m christine romans. we begin with breaking news on what s now the second biggest bank failure in u.s. history. most of first republic bank is now being bought by jpmorgan chase in a deal arranged by the federal deposit insurance corporation. the fdic. cnn s clare sebastian live in london for us. clare, this deal announced just a short time ago. all weekend, we ve been waiting for word what would happen to first republic. we knew it couldn t continue as a concern here. fdic would have to step in. and you went to bed thinkiing first republic is your bank, it s now jpmorgan chase, right? yeah, christine, all 84 branches of first republic will reopen this morning as branches of jpmorgan. this is different than silicon valley bank which was taken by regulators and stayed there for more than two weeks. this happenmuch more quickly over the weekend with that auction held on sunday. several banks bid it. it seems they reached that dea ....
attacks on u.s. citizens are unacceptable. we think our mexican and u.s. law enforcement efforts to find these innocent victims, the task force is to ensure justice is done. do you know how many people currently working going about their lives will lose their jobs some. inflation is extremely high and it is hurting the working people of this country badly. he is constantly pointing to china as a critical competitor to the u.s. why w we need a more comprehensive approach to mitigate these threats. live from london, this is cnn newsroom with max foster and bianca nobilo. it is wednesday, march 8. 9 3:00 a.m. in eastern texas and matamoros where authorities are working to learn more about the deaths of two of the four americans kidnapped last week. all four were found tuesday. a man is in custody in connection with the kidnappings, but officials vice president said if he is tied to a criminal group. the white house condemned the kidnappings. attacks ....
we start here in the uk, where more shops are limiting the sale of some fruit and vegetables because of a shortage of fresh produce. the uk s biggest supermarket chain tesco is the latest to bring in rationing, a cap of three items per customer on tomatoes, peppers and cucumbers. it follows similar moves by rivals asda, aldi and morrison s. extreme weather has affected harvests in spain and north africa. but some are also pointing to specific problems within the uk s food industry, as emma simpson reports. if you ve been to the supermarket, chances are you ll have seen this. a shortage of tomatoes, cucumbers and some other fresh vegetables and now britain s biggest retailer has joined in with placing a limit on how much shoppers can buy. here is the problem. at this time of year we rely on imports from overseas. we get a lot of tomatoes here from morocco but it is a whiteout with harvest disrupted. extreme weather is playing havoc food production. this huge business is ....
welcome to our viewers in the united states and around the world. this is early start. we begin with global markets in turmoil in the wake of the failure of two major commercial banks, svb and signature bank in the united states. global markets, asian shares closed down sharply as investors fear further bank collapses to come. european stocks have been climbing though in the last few hours, a mixed performance now, but trying to find some footing this europe. and look at u.s. futures, they are up slightly. we ll try to make sense of all of this for you in a moment. one place you don t want your investment dollars right now, regional bank stocks. first republic shares first more than 60%. western alliance bank corp down 47%. driving the u.s. market overall, extreme fear. according to cnn business fear and groeed index. clare sebastian is joining us now. explain why u.s. futures are up again. yes, and there has been five straight down sessions, basically a week of los ....