Morning brief: SVB crisis spills over to Credit Suisse, New Zealand hit by earthquake, and more
WION's morning brief
The aftershocks of Silicon Valley Bank's collapse continue to hurt global economy, with Switzerland-based Credit Suisse becoming the latest to be hurt by its aftershocks. After losing a fourth of its value during March 15 trade,Credit Suissesaid that it will borrow up to $54 billionfrom the Swiss central bank to shore up its finances. Across the Pacific,New Zealand's Kermadec Islands region were hit by an earthquake of 7.1 magnitude on Thursday, prompting Tsunami warnings. Towards the Atlantic, the United States Defence Secretary Lloyd Austin on Wednesday vowed that they will fly the US aircraft "wherever international law allows", in relation to March 14 downing of a US drone by a Russian aircraft over the Black Sea.
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Global banking crisis | Credit Suisse to borrow from Swiss central bank
Switzerland's second-largest bank Credit Suisse on Wednesday said it will borrow up to $54 billionfrom the Swiss central bank to shore up its finances. The decision has been taken to strengthen the bank, said the officials.
"My team and I are resolved to move forward rapidly to deliver a simpler and more focused bank built around client needs," saidUlrich Koerner, Credit Suisse's CEO.
New Zealand: 7.1-magnitude earthquake prompts tsunami warning in Kermadec Islands
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New Zealand's Kermadec Islands region has been hit by an earthquake of 7.1 magnitude on Thursday, prompting Tsunami warnings.
The The US Geological Survey (USGS) said that the quake was estimated at a depth of 10 km (6.21 miles). A corresponding tsunami warning has been issued after the earthquake, it added.
US says will fly 'wherever international law allows' after talks with Russia
United States Defence Secretary Lloyd Austin on Wednesday vowed that they will fly the US aircraft "wherever international law allows" and warned Russia that it must operate with caution after an American drone was allegedly crashed by one of the Russian jets.
North Korea fires ballistic missile hours before South Korea-Japan summit
A ballistic missile was fired by North Korea into the sea between Japan and the Korean peninsula, said South Korea's military on Thursday, hours before South Korean President Yoon Suk Yeol is scheduled to fly to Tokyo to attend a rare summit.
At least 2.5 tonnes of natural uranium missing from Libyan site, says IAEA
The United Nations nuclear agency said on Wednesday that approximately 2.5 tonnesof natural uranium was missing from a site in Libya. International Atomic Energy Agency (IAEA) chief Rafael Grossi told the organisation's member states that upon inspection of the site, it was found Tuesday that 10 drums containing uranium ore concentrate "were not present as previously declared" at the location in Libya.
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President Joe Biden's nomination of Eric Garcetti as ambassador to India was confirmed by the Senate on Wednesday, when the chamber voted 52 to 42 to break a filibuster on the former Los Angeles mayor’s nomination.
Following her Oscar win, Guneet Monga to back a documentary on Honey Singh
Following the historical win at the Oscars earlier this week, Indian producer Guneet Monga along with Netflix is set to launch a bare-it-all documentary film based on the life of hip-hop artist & rapper Yo Yo Honey Singh.No stranger to controversies, he will now deep-dive into his life and sudden disappearance at the peak of his career that startled the industry and fans. Produced by the Oscar-winning Sikhya Entertainment and directed by Mozez Singh, Honey Singh will take his fans through the unseen and unheard chapters of his life with his raw and candid revelations that capture his highs and lows.
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