Thursday, March 16, 2023

European Central Bank raises interest rates amid banking turmoil

The European Central Bank has raised interest rates despite the turmoil in the European banking sector caused by Swiss financial giant, Credit Suisse.

The ECB is trying to control inflation in the eurozone, which is currently at 8 per cent.

Ross Cullen reports.

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US Treasury Secretary reassures public following SVB collapse

US Treasury Secretary Janet Yellen is reassuring Americans that the US
banking system is sound - and that their deposits are safe.

She's testifying before the Senate Banking committee - in the wake of
the collapse of Silicon Valley Bank and Signature Bank - the worst US
banking failures since the financial crisis of 2008.

Yellen reiterated that no taxpayer money was used to shore up the banks.

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ECB vows to respond with market turmoil, pressing ahead with interest rate hike

The European Central Bank has announced a 0.5 point increase in eurozone interest rates, and says it stands ready to respond to market turmoil.


It’s not what markets were expecting, amid concern a significant increase in borrowing cost would fuel further market anxiety.


Laura Makin Isherwood reports from London


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UN: Massive rise in cocaine trafficking

The United Nations office on Drugs and Crime says the surge in global
cocaine supply should put everyone on high alert.
In its latest Global Report on Cocaine the office reports record
levels of cocaine production worldwide post-pandemic.
Jody Jacobs has more from the UN.

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Nigeria To Hold First Census in 17 Years


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Nigeria will hold its first census in 17 years in May.


Authorities say the census is to capture changes in the population that would influence public policy and investment decisions.


Correspondent Ajeck Mangut reports from Abuja.


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Indian startups rush to deposit money domestically after SVB crash

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Indian startups are quickly moving their money from the crisis-hit Silicon Valley Bank to India's first financial service center.

GIFT city in the West Indian state of Gujarat is inviting entrepreneurs to move their funds to domestic banks.

Ishan Garg has more from New Delhi.

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India's Maharashtra on high alert after two suspected H3N2 influenza deaths

India's richest state - Maharashtra - is issuing a public alert after reporting two suspected H3N2 influenza deaths.

Our correspondent Sreoshi Mukherjee reports...

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Credit Suisse secures lifeline from Swiss central bank

 Credit Suisse has secured a lifeline from the Swiss central bank.

It will borrow up to 54 billion dollars to boost liquidity and investor confidence, after a slump in its shares sparked fears about a global financial crisis.

Richard Kimber reports from Hong Kong.


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N Korea fires missiles as Japan and South Korean leaders meet

North Korea has fired more rockets ahead of a meeting between the leaders of Japan and South Korea. 

It launched two Intercontinental Ballistic Missiles into the Sea of Japan as the two leaders prepared to meet in Tokyo to discuss how to respond to North Korea's nuclear threats. 


Chris Gilbert reports from Tokyo. 

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Wednesday, March 15, 2023

US stocks fall amid Credit Suisse crisis

US stocks fell Wednesday as investors contemplated the future of Credit Suisse.


Shares of the bank plunged after its biggest backer, Saudi National Bank, said it won't provide further financial help.


Sally Patterson reports from New York.


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Trump Media being investigated for alleged money laundering

Federal investigators are reportedly expanding their Trump investigation.
According to reports Federal prosecutors in New York are now looking
at the former president's social media company examining whether it
violated money laundering statutes.
Our correspondent, Jody Jacobs has more from New York...

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Guo Wengui - exiled Chinese billionaire and associate of Trump adviser Steve Bannon - arrested on charges of orchestrating billion dollar fraud

Exiled Chinese billionaire Guo Wengui, who is an associate of former President Trump adviser Steve Bannon, has been arrested on charges of orchestrating a one billion dollar fraud.


The indictment alleges Mr Guo duped his online followers with promises of "outsized" investment returns.


Our US correspondent Kate Fisher reports


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US won’t stop conducting surveillance flights, despite drone collision in Black Sea

US Defense Secretary Lloyd Austin says the United States will keep conducting surveillance flights even after an unarmed American drone was struck and downed by a Russian warplane over the Black Sea.


Tuesday's incident, the first known physical contact between US and Russian militaries since the start of war in Ukraine, has once again raised tensions between the two superpowers. 


Benji Hyer has the latest. 


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The fate of abortion pills in the hands of one conservative judge in Texas

The fate of abortion pills in America is in the hands of one federal judge in Texas. Judge Matthew Kacsmaryk - who is a former Christian activist - is hearing arguments in Amarillo on Wednesday in the high-stakes case which could threaten access to the medication - even in states where abortions are still legal. Toni Waterman has more.

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Russia US tensions rise over drone incident

The US has summoned the Russian ambassador to protest what it describes as the “reckless” actions of Russian pilots over the Black Sea.


Washington alleges that on Tuesday two Russian fighter jets attempted to intercept an American surveillance drone in international airspace, causing the drone to crash into the sea.


The Russian Defense Ministry rejects America's version of events- as Trent Murray reports from Berlin:


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GERMANY: TWO CHILDREN CONFESS TO MURDER OF 12-YEAR OLD GIRL

A community in Western Germany has been left reeling after a brutal murder of a 12 year girl.

Police in the town of Freudenberg say they have been left "speechless" over the crime - which involved two of the child's classmates. 

Trent Murray has more from Berlin. 

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Blinken in Africa

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US Secretary of State Antony Blinken has arrived in Ethiopia, as part of a wider push by the US administration to step up engagement with Africa.

 

Blinken is expected to renew ties with the Addis Ababa Administration and support the peace process following a violent two-year civil war.

 

Michael Baleke reports from Kampala

 

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Nigeria Withholds 744 Million Dollars Belonging to Foreign Airlines

International airline operators say trapped funds belonging to foreign airlines in Nigeria have risen to 744 million dollars this year.

The International Air Transport Association, IATA says it's a 12.4 percent rise, up from 662 million dollars last year.

Correspondent Tesem Akende reports from Jos.

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Protests break out in Pakistan ahead of Former PM's arrest

Protests broke out in several parts of Pakistan ahead of former prime minister Imran Khan's expected arrest.

Clashes between police officials and protestors took place outside Khan's residence in Lahore.

Sreoshi Mukherjee has more on this story...

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Mass strikes disrupt schools and travel on UK budget day

Mass strikes are disrupting life across the UK, but more specifically in London where commuters are largely staying home amid widespread travel chaos, after underground and train staff walked out.

The strikes- which are also impacting schools and health services- coincide with budget day, as

Nina-Maria Potts reports:


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