The clock is ticking for Switzerland's banking sector as one rival hopes to save another.

The country's largest bank UBS has offered to buy all or parts of Credit Suisse.

The Swiss Government is looking to change laws to bypass a shareholder vote.

Regulators have been racing to save the 167-year-old bank, hoping to secure a deal before the markets reopen tonight at 6pm New Zealand time.

Europe correspondent Gavin Grey told Kate Hawkesby that UBS is offering to pay around 1.8-billion dollars.

He says although parts of Credit Suisse are still viable, the plummeting share prices make it a risk for both UBS and the Government.

LISTEN ABOVE

The clock is ticking for Switzerland's banking sector as one rival hopes to save another.
The country's largest bank UBS has offered to buy all or parts of Credit Suisse.
The Swiss Government is looking to change laws to bypass a shareholder vote.
Regulators have been racing to save the 167-year-old bank, hoping to secure a deal before the markets reopen tonight at 6pm New Zealand time.
Europe correspondent Gavin Grey told Kate Hawkesby that UBS is offering to pay around 1.8-billion dollars.
He says although parts of Credit Suisse are still viable, the plummeting share prices make it a risk for both UBS and the Government.
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Gavin Grey: European Correspondent on Switzerland's situation with Credit Suisse and UBS

Conferences on our shores are driving up international delegation numbers, which have surged more than 50% annually.  

According to Stats NZ, arrivals are near pre-Covid levels, with more than 16 thousand people coming in the first quarter.  

International delegates contributed more than $54 million to the economy, with visitors spending an average $500 per day.  

Business Canterbury CEO Leeann Watson told Ryan Bridge with last week's Air New Zealand expansion in Christchurch, there are more options. 

She says having direct flights between Christchurch and Singapore, Perth and Tokyo, will make a big difference. 

LISTEN ABOVE 

Conferences on our shores are driving up international delegation numbers, which have surged more than 50% annually. &nbsp;
According to Stats NZ, arrivals are near pre-Covid levels, with more than 16 thousand people coming in the first quarter. &nbsp;
International delegates contributed more than $54 million to the economy, with visitors spending an average $500 per day. &nbsp;
Business Canterbury CEO Leeann Watson told Ryan Bridge with last week's Air New Zealand expansion in Christchurch, there are more options.&nbsp;
She says having direct flights between Christchurch and Singapore, Perth and Tokyo, will make a big difference.&nbsp;
LISTEN ABOVE&nbsp;

Leeann Watson: Business Canterbury CEO on the number of international business delegates visiting New Zealand rising by 50%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7625960f-23f7-4de8-8365-b45600007b2a/transcript

Business NZ says a new loan scheme to help businesses ditch gas is a necessary step.   

This year's Budget funds up to $1.2 billion in guaranteed bank loans to help businesses transition to renewables. 

Potential losses are accounted for with $48 million set aside. 

Business NZ Advocacy Director Catherine Beard told Ryan Bridge it's still a loan business will need to pay back, but it will help. 

She says the barrier for businesses trying to move away from gas is often capital expenditure, so they're in favour of lowering that hurdle. 

LISTEN ABOVE 

Business NZ says a new loan scheme to help businesses ditch gas is a necessary step. &nbsp;&nbsp;
This year's Budget funds up to $1.2 billion in guaranteed bank loans to help businesses transition to renewables.&nbsp;
Potential losses are accounted for with $48 million set aside.&nbsp;
Business NZ Advocacy Director Catherine Beard told Ryan Bridge it's still a loan business will need to pay back, but it will help.&nbsp;
She says the barrier for businesses trying to move away from gas is often capital expenditure, so they're in favour of lowering that hurdle.&nbsp;
LISTEN ABOVE&nbsp;

Catherine Beard: Business NZ Advocacy Director on the Government's loan scheme to help businesses transition from natural gas

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ee6a7949-2bd2-499f-9c42-b455018960af/transcript

Glimmers of hope for Wellington despite another drop in cruise visits. 

Preliminary data released to Newstalk ZB shows a 3% drop in port visits compared to last season.

The North Island fell 41, and the South Island gained 23. 

The capital was the worst hit, losing 24% of port calls. 

WellingtonNZ General Manager Destination and Marketing Todd Barberel told Ryan Bridge visitor numbers and spend is increasing, though they're not at pre-Covid levels yet.

He says there's positive momentum and the challenges from cruise lines need to be balanced with their long-term objectives. 

LISTEN ABOVE

Glimmers of hope for Wellington despite another drop in cruise visits.&nbsp;
Preliminary data released to Newstalk ZB shows a 3% drop in port visits compared to last season.
The North Island fell 41, and the South Island gained 23.&nbsp;
The capital was the worst hit, losing 24% of port calls.&nbsp;
WellingtonNZ General Manager Destination and Marketing Todd Barberel told Ryan Bridge visitor numbers and spend is increasing, though they're not at pre-Covid levels yet.
He says there's positive momentum and the challenges from cruise lines need to be balanced with their long-term objectives.&nbsp;
LISTEN ABOVE

Todd Barberel: WellingtonNZ General Manager Destination and Marketing on a drop in cruise visits

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/512527eb-81bc-4241-bf97-b455012dce62/transcript

Gavin Grey: European Correspondent on Switzerland's situation with Credit Suisse and UBS

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