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Credit Suisse tumbles as shares face rout

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The Bank has faced a series of scandals, and large capital outflows

Shares in European lenders tumbled again, dashing hopes that the storm had passed.

Credit Suisse was leading the way lower.

The embattled Swiss bank saw its shares fall over 20%.

It’s faced a long series of scandals, and seen huge outflows of capital.

This week it admitted to finding “material weaknesses” in its past financial reporting.

Its top investor, Saudi National Bank, said it couldn’t put in any more money.

The turmoil for the sector comes after the collapse of tech-focused lender Silicon Valley Bank.

U.S. regulators have tried to assure depositors that any cash held there, or in other banks, remains safe.

There’s now also talk of tighter regulation for lenders.

But contagion fears have pummelled stocks for the whole sector.

They also pose a dilemma for central bankers.

The U.S. Federal Reserve had been expected to hike rates again to tackle stubbornly high inflation.

But some market watchers think those plans may now have to be revised for fear of sparking deeper trouble for banks.

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The possibility of a U.S. recession

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There’s been a lot going on in markets…

It’s been a turbulent time in financial markets, to say the least.

From seeing a banking crisis sweep around the world, to a new global reserve currency start to emerge – there hasn’t been a quiet day on the market.

And there’s also a little bit of Marty McFly meets Bog Iger from Disney, as UBS appoint a former Credit Suisse CEO to help with the merger of the two banks.

AND, the possibility of a U.S. recession…

Chris Uhl from 10minutestocktrader.com joins us to discuss.

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Disney trumps DeSantis with legal loophole

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Disney has outplayed Ron DeSantis by leaning on a decades-old royal clause

In February, Florida Governor Ron DeSantis moved to take over Disney World’s governing body.

It was all in retaliation to the company’s public stance against the state’s “Don’t Say Gay” bill.

But now, new reports suggest this whole plan may have backfired.

Members of the new governor-appointed board argue the previous members stripped the board of its power before they left.

It was all part of an agreement, which was approved a day before DeSantis assumed more control of the land around Disney’s theme park.

Disney is leaning on a property law which essentially makes the company the government of the area.

New board member Ron Peri says the board has lost the majority of its ability to do anything beyond maintain the roads and basic infrastructure.

For just under six decades, Disney has operated its expansive theme park and resort in Florida under a specially designated district.

A board oversaw the area and had free reign of development processes.

Disney also had the authority to appoint district board members.

But this special status came under threat when Disney clashed with DeSantis and his “Don’t Say Gay” law.

Florida lawmakers the passed a bill in February to end Disney’s self-governing status and give the governor the authority to appoint new board members to the district.

DeSantis appointed five supervisors, including a parents’ rights activist and three Republican donors.

But the new supervisors say previous board members entered an agreement before they left their positions – effectively stripping them of any powers. #trending #featured

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The Power of Play

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Let’s take a look at the history of video games and the exciting future of the gaming industry.

From classic arcade games to the latest consoles and online multiplayer experiences, gamers have been lining up for decades to get their hands on the hottest games.

But what goes on behind the scenes to create these immersive worlds? The Power of Play takes you behind the curtain to explore the hard work and dedication of game developers as they bring these virtual experiences to life.

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