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CNN Early Start With Christine Romans July 6, 2024

turmoil is spreading. credit suisse will borrow almost $54 billion from swiss bank. the bank stock surging in the first few minutes of trading today in europe as shares plunged to a record low on wednesday after getting cut off by its biggest shareholder. anna stewart is live in london. markets are now open there. what is the latest? reporter: i think that we re seeing a bit of relief now on the european indices particularly with the banking stocks. let me show you how the european market opened. all the major indices are higher by around a percentage point led by the smi in switzerland. credit suisse closed down yesterday 24%. and today you will see share price is now up around 23%. i think some investors saw a little bit of value early this morning as a result of what the swiss central bank has decided which is that they would provide liquidity back stop and credit suisse have taken them up on that offer, $53 billion in terms of the loan. and they will be buying bac ....

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CNN CNN Newsroom July 6, 2024

any moment now, president biden will address the nation from that podium right there amid concerning questions about potential contagion in the u.s. banking sector. what does that mean for your money? a very good monday morning to you. i m jim sciutto. and i m erica hill. president biden expected to try to calm fears in a matter of moments when he does make his way to that podium, this amid the failure of two u.s. banks. we re talking about silicon valley bank, which you ve heard a lot of this weekend, as well as signature bank. the biden administration is taking emergency action here and there is the president. let s listen in. for california. i want to briefly speak about what s happening to silicon valley bank and signature bank. today, thanks to the quick action of my administration over the past few days, americans can have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that depo ....

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BBCNEWS BBC World News July 7, 2024

From Northern France. With prices of 3000 4000 euros per person and 40 people in the boat, do the maths, it is more lucrative than Drug Trafficking, with lighter charges. And from supermans costume to superstar guitars, millions of pounds worth of items from the worlds of film, television, and music are up for sale at a Memorabilia Auction in london. A very warm welcome to the programme. North korea has launched a missile overjapan, sparking anger in tokyo. It defies a Un Security Council resolution ban on missile launches. The rocket came down in the Pacific Ocean and there are no reports of damage. Stephanie prentice reports its a familiar side, north korea testing its missiles. But mondays launch ....

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BBCNEWS World Business Report July 7, 2024

Another day and another announcement is expected from the chancellor, this time about the timing of his Medium Term Plan for the economy. As Kwasi Kwarteng says, he is listening and the much awaited detail on his radical measures to boost Economic Growth will now come sooner, possibly this month. The government had previously insisted the fiscal plan would still be published on November The 23rd despite the market chaos that came with the announcement of the chancellors mini budget. On monday, he revealed a plan to drop the uks highest rate of tax for top earners would no longer go ahead and addressing his party conference, he acknowledged shortcomings in the initial presentation of his economic plans. Ifi if i can be frank, i know the plan put forward only te ....

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BBCNEWS World Business Report July 6, 2024

we begin in china where as you ve been hearing there were hugs and tears as international travellers arrived in china yesterday without the need to quarantine for the first time since the early stages of the covid pandemic. the strict quarantine rules had been in place for nearly three years. their lifting marks the end of beijing s zero covid policy, which had caused growing public anger. in hong kong, 400,000 people are expected to travel into mainland china in the coming weeks with long queues for flights into cities including beijing and xiamen. so what impact will the reopening of china have on the country s economy? let s go live to hong kong and talk to iris pang chief greater china economist at ing. lovely to see you. for many people this is what they have been waiting for for so long where they have not seen family or been able to return home. give us your take on the impact this is happening. i give us your take on the impact this is happening. this is happ ....

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