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73 Killed In Johannesburg Building Fire, Dozens Injured; Coup Leaders Name General Nguema As Transitional Leader; U.S.: Russia And N. Korea Working On Arms Deal; UEFA Pres. Ceferin: Rubiales' Behavior "Inappropriate"; Rubiales' Mother Hospitalized After Hunger Strike; Two Years Since The U.S. Military's Withdrawal From Afghanistan; Mitch McConnell Freezes Again While Talking With Reporters In Kentucky; Tropical Storm Idalia Moving Over South Carolina; Chinese Developer Country Garden Faces Crunch Vote On Debt Repayment; UBS Will Cut 3,000 Jobs In Switzerland As It Absorbs Credit Suisse. Aired 10-11a ET

Aired August 31, 2023 - 10:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

UBS expects to shed around 3,000 jobs in Switzerland to help it cut $10 billion in costs as it undertakes a sweeping overhaul following its

emergency rescue of Credit Suisse earlier this year. The job cuts amount to around 8 percent of staff employed by the combined Swiss operations of the

global banking giant, which on Thursday reported net profit of $29 billion for the second quarter. That is the largest ever quarterly profit for a

bank and it arose almost entirely from an accounting technicality related to the takeover, analysts said.>

(COMMERCIAL BREAK)

[10:00:17]

BECKY ANDERSON, CNN ANCHOR: I'm Becky Anderson live from Abu Dhabi, where the time is 06:00 in the evening. This is CONNECT THE WORLD. You are very

welcome.

Coming up this hour, more than 70 people killed in a fire that ripped through a Johannesburg building. The U.S. says Russia and North Korea are

actively advancing an arms deal.

UEFA's president finally speaks out about embattled Spanish Football Chief Luis Rubiales. And Swiss Bank UBS posts a huge profit, but challenges lie

ahead.

Officials in Johannesburg say there is no indication a fire that killed at least 73 people inside a residential building was deliberately set. The

fire broke out inside a so-called hijacked building, a structure that was abandoned by landlords and taken over by gangs who rent space inside to

migrants and others in need of housing. Those buildings have become increasingly common in Johannesburg, despite efforts to regulate them.

David McKenzie is in Johannesburg at the scene of the tragedy. We know what didn't cause this. We're told this wasn't deliberate. Do we know what the

cause was?

DAVID MCKENZIE, CNN SENIOR INTERNATIONAL Well, Becky, I have to just adjust that slightly, because over the last few hours, there have been less talk

about this not being deliberate. Now, I'm not saying that it was deliberate, but those earlier statements have been walked back a little bit

and I think an investigation has to ensue.

But if you look at this area behind me, there have been frantic efforts to try and save people. In the very early hours of this morning, as this

raging inferno pushed through this building, many people struggled to get out, even if they were potentially able to get out, because at least one

exit, it appears, was locked.

I spoke to one man who was still in a very bad way, physically, who managed to escape. Here's his story.

(BEGIN VIDEO CLIP)

WISEMAN MPEPA, BUILDING RESIDENT: People were making noise, yelling, "Fire! Fire! Fire! And when I woke up, I actually see the gate, I saw the fire.

The space when you're going to enter, nothing. After that, I come back to my room, then I broke the window.

When I broke the window, my head entered, but the body has not entered. So I come back in the gate, the fire is full, full. After that, I don't have

any plan. I just sit. Then something come to me.

UNIDENTIFIED MALE: The smoke.

MPEPA: Yes, the smoke is coming to me. Yes. After that, I just fell down. Then from there, I don't know anything until now.

(END VIDEO CLIP)

MCKENZIE: Well, Becky, that man is trying to find family members who I think are still missing. Many others around this neighborhood shocked by

what happened, but many not surprised by what happened. This building was hijacked by gangsters, like several buildings in downtown Johannesburg.

They then lease it out to migrants, mostly, who are crammed into very squalid circumstances. Many multiple people to a room, partitioning

apartments within the building behind me, which really could mean a disaster, and that is exactly what happens.

Finger pointing now going on amongst officials as to who's to blame, but really a horrible day for South Africa. Many feel this could have been

avoided if more was done to fix this very difficult situation. Becky?

ANDERSON: Yes, absolutely, David. Thank you.

I want to talk more about the fire and the ramifications of this tragedy with Robert Mulaudzi, he's the spokesperson for the City of Johannesburg

Emergency Management Services. Sir, what do we know about how this fire broke out in the first instance? David there saying that the suggestions of

this not being deliberate are being rode back slightly. What do you know at this point?

ROBERT MULAUDZI, SPOKESPERSON, JOHANNESBURG EMERGENCY MANAGEMENT SERVICES: Yes. Yes, at this stage, we don't know what might be the cause of the fire

incident. Our fire investigating teams are still investigating as to what might be the cause of the fire incident. But we know that in most of our

hijacked buildings or abandoned buildings in the city, most of those buildings are illegally connected. So the electricity is illegally

connected, which makes those people vulnerable to fires.

[10:05:10]

And also, they are using our heating devices, which makes them vulnerable to fires like paraffin stove, and also they're using candles or liquid

petroleum gas, which they normally use it for cooking purposes. So we think that one of those might be the cause of the fire incident. But our fire

investigations will tell us as to what is the cause of this fire incident.

ANDERSON: Understood. Meantime, how are recovery efforts going? We know some 73 already have perished. Are you concerned that that death toll may

rise?

MULAUDZI: Yes, we are concerned because normally in hijacked buildings like this, the number of people who you find who are residing in those areas

will be more. You find out that in one sheikh or one dwelling you might find about 10 people who are residing in that building.

So the number of people who we might -- bodies which we might still recover here, there might still be more, but we will behave if we don't get more,

because it also -- it is also a traumatic experience for us as emergency services workers. Because I think in my 23 years of service in the fire

service, I've never come across something like this.

So I don't think that we will have something like this maybe in many years to come. So we will be happy if we don't really get even more bodies

because it's also traumatic to us as emergency services workers and also to the family members who are on the ground who are waiting to see their loved

ones.

So we have activated our chaplaincy service, who normally conducts some trauma counseling -- debriefing counseling as and when we have incidents

like this one. Even though the scale is much more bigger, this is something which has never been heard of in the city of Johannesburg. It has never

happened.

So all of us, I think it's a -- we are really devastated, us, being emerging services workers and also, you know, the people who are affected.

So we're hoping that we will work together with other city stakeholders, so that firstly, we bring up to speed in terms of recovery of any other bodies

which might still be outstanding, and also to make sure that our affected families are assisted to find closure.

And also maybe this incident will also trigger, you know, or speedup the process of making sure that we get rid of some of these buildings, if not

maybe refurbishing them and making sure that they are habitable. Because we cannot really afford to have a situation where people will be continuing to

lose their lives in buildings like this ones.

ANDERSON: No, absolutely, Robert. And you're making an awful lot of sense, as you suggest. Traumatic -- so traumatic for those who are involved. I'm

sure many have lost friends and possibly family, and traumatic for the emergency services who are involved. And you bring up the issue of how to

prevent this in the future. What needs to be done about these so-called hijacked buildings, sir?

Unfortunately, we've lost Robert Mulaudzi, but, I mean, you know, important to get his perspective on what is going on on the ground there.

Well, the term hijacked building is not one that many of us are familiar with, but a building to be hijacked. This is what it means. First, a

building must be abandoned by its owner. Then it is taken over by a gang or another group. And finally, it is leased to people who can't afford other

forms of housing.

What you end up with is a building that is unregulated, unsafe, and unlivable. For obvious reasons, there is no recent formal tally of hijacked

buildings in Johannesburg, but the spokesperson for the former city mayor, Herman Mashaba, said in 2018, there were 432 buildings that they were aware

of then. Despite attempts to regulate hijacked buildings, today's tragedy proves that more needs to be done.

And that former mayor Johannesburg Mayor Herman Mashaba will be my guest next hour as we try to understand how these living conditions persist

across major cities in South Africa and why officials like the mayor can't solve the problem.

[10:10:00]

Well, in Gabon, the military junta says it is named a general as the country's transitional leader in the wake of its coup. On Wednesday,

military leaders placed President Ali Bongo under house arrest and said they were dissolving the government and closing the country's borders until

further notice. The African Union, several western nations and the U.N. all denouncing the coup.

(BEGIN VIDEO CLIP)

STEPHANE DUJARRIC, SPOKESMAN FOR U.N. SECRETARY-GENERAL ANTONIO GUTERRES: The Secretary General calls on all actors involved to exercise restraint,

engage in an inclusive and meaningful dialogue and ensure that the rule of law and human rights are fully respected. He also calls on the National

Army and security forces to guarantee the physical integrity of the president of the Republic and his family.

(END VIDEO CLIP)

ANDERSON: The power grabbing Gabon follows a series of recent military coups, of course, in Africa. The White House says it is concerned that a

possible weapons deal between two of the most warily watched countries in the planet is actively advancing.

According to newly released U.S. intelligence, Russia negotiating a major arms deal with North Korea. The U.S. says this shows Moscow's desperation

for ammunition for its ongoing invasion of Ukraine. The White House also revealed that two Russian delegations have travelled to North Korea since

July.

Let's get you bang up to date on what is a developing story. Paula Hancocks tracking this from Seoul. Paula?

PAULA HANCOCKS, CNN CORRESPONDENT: Well, Becky, this has been something that has concerned the U.S. and other countries for some time. The fact

that Russia looking to rearm itself may well be looking to North Korea and North Korea may be willing to sell those weapons.

Now, what this newly released U.S. Intel report tells us is that they believe that they are actively advancing this potential arms deal. And they

believe that it went a long way back in July when the Defense Minister of Russia went to Pyongyang. He met with Kim Jon-un, the North Korean leader.

He was at a military parade with him.

He was attending an arms exhibition as well, surrounded by different weapons technology that Pyongyang owns. And it is believed, according to

this U.S. intelligence report, that that is where some of this negotiation took place. It's something we heard earlier this month as well from the

South Korean side.

The intelligence agency here saying that believed that also they were talking about possibly military exercises between the two countries. Also

saying that they believe at the beginning of this month there was a Russian plane which left Pyongyang and appeared to have transferred unknown

military supplies.

Now, CNN has no way of knowing what those supplies may have been, what in fact was on that plane. But this is something that South Korean

intelligence has been tracking. Now, of course, anybody that does an arms deal with North Korea will be violating U.N. Security Council resolutions,

resolutions that Russia itself signed on to.

(BEGIN VIDEO CLIP)

LINDA THOMAS-GREENFIELD, U.S. AMBASSADOR TO THE U.N.: The United States is now able to share that Shoigu's visit was more than just the photo op.

Russia used this visit to the DPRK to try to convince Pyongyang to sell artillery ammunition to Russia.

(END VIDEO CLIP)

HANCOCKS: Now, there have been reactions from both North Korea and Russia. North Korea has denied that there is any deal. We've heard also from the

Kremlin Dmitry Peskov, the spokesperson, on a phone call with reporters saying that the two countries, quote, "maintain mutually respectful

relations", pointing out that North Korea is an important neighbor to Russia, but deflecting the question as to whether or not there is a

potential arms deal.

This is something that has concerned the Biden administration and others for some time. This report coming out showing that they believe they could

be further ahead in an arms deal than previously thought. Becky?

ANDERSON: Paula Hancocks is in Seoul. Thank you, Paula.

Coming up, UEFA finally breaks its silence over the embattled Spanish Football Chief, Luis Rubiales. What was said is coming up.

Plus, we're live from Washington with new concerns about the most powerful Republican in the U.S. Senate after he appears to freeze at the podium once

again.

(COMMERCIAL BREAK)

[10:16:39]

ANDERSON: UEFA's president has condemned the conduct of the disgraced president of the Spanish football federation as inappropriate. Luis

Rubiales refuses to resign 11 days after he forcibly kissed player Jennifer Hermoso during the team's World Cup victory.

In an interview with the French magazine L'Equipe, the UEFA president said, "I'm sad that such an event should overshadow the victory of the Spanish

national team".

World Sport Anchor Amanda Davies standing by in London for you. Atika Shubert is covering this story out of Madrid for you today. Amanda, let's

get to you first. I mean, some will say, you know, there was no option but to finally speak out as far as UEFA was concerned. I wonder whether you've

got any perspective as to, you know, why it's taken so long and what you make of what was said.

AMANDA DAVIES, CNN ANCHOR, WORLD SPORT: Yes, I mean, I think the timing is very clear, Becky. After 11 days of saying nothing, why do it now? Well,

that is because in just a couple of hours time, the European Champions League draw for the group stages is taking place in Monaco. The eyes of the

world watching on European football's flagship competition.

Five Spanish clubs involved. It's very difficult for the president of European football's governing body to promote and sell and speak glowingly

of what's to come without having addressed what has played out. And I'm sure we at CNN are not the only media organization to have been trying to

get President Ceferin and UEFA to make some kind of a comment over the last 11 days.

And this is how they have decided to do it. With one interview with the French magazine L'Equipe. They hope to make their comments and move on. But

you strongly suspect that that will not be the case. I think it's fair to say it's a cursory comment, isn't it? President Ceferin did yes say the

actions of Luis Rubiales were inappropriate.

He did go on to say, "We should change things". That was the final line of the statement. "I'm sad such an event should overshadow the victory of the

Spanish national team. We should change things." But he didn't say what we should be changing and how.

And UEFA's stance has been, well, world football's governing body, FIFA, are the body who we were in charge of the Women's World Cup final when

these incidents took place. They are the body that has handed down the 90- day suspension of Louis Rubiales and their disciplinary committee has opened proceedings.

So UEFA have said, we are going to leave it to them. That isn't what a lot of people were hoping for and it really hasn't placated a lot of people who

feel that this has happened on UEFA's watch. The World Cup final, of course, was two European nations, England and Spain.

President Ceferin didn't go. The feeling is that he is a longtime friend and ally of Luis Rubiales. And that is where the politics of this issue

very much comes into play, Becky?

ANDERSON: Yes. And you've been reporting on that politics and pointing it out now for the 11 days that this saga has been ongoing. Good for you.

Thank you for that.

[10:20:04]

Atika, let's bring you in at this point, because Luis Rubiales' mother feels that this is a witch hunt against her son, and she has refused until

now to leave a church where she has been on a hunger strike. As we understand it, her health is deteriorating. What's the status at this

point?

ATIKA SHUBERT, CNN CORRESPONDENT: Yes, she locked herself into this church in the hometown of the Rubiales family in Montreal, and she went on hunger

strike, she said, until there was justice for her son. Those were her words.

And we understand that she was briefly hospitalized. Take a listen to what the priest at the church had to say.

(BEGIN VIDEO CLIP)

FATHER ANTONIO RODRIGUEZ, PRIEST, DIVINA PASTORA (through translation): She was doing very bad. She was anguished and dizzy, saying she was noticing

weird things on her heartbeat, so they decided to take her out.

(END VIDEO CLIP)

SHUBERT: Now, the national television station here has also reported that she is now out of hospital. We're still waiting for word from the family,

but it's interesting to note that the family itself is not united about Rubiales.

While his mother may be on hunger strike, his uncle, Juan Rubiales has been speaking to the media, El Mundo in particular speaking out against him,

saying that he supports Jenni Hermoso, the player who he planted the kiss on. But also saying that Rubiales is -- says he's abused his power many

times and has resurfaced a number of corruption allegations that his uncle apparently witnessed when he was Rubiales' chief of staff.

So there could be more coming out of this still, Becky?

ANDERSON: Yes, absolutely. Good to have you. Always a pleasure. Thank you.

Look, we have pointed out several times on this show that controversy, as it drags on, is just taking away from what was the well-deserved attention

of the Spanish women's team after their historic World Cup win. Their star keeper Catalina Coll speaking out, telling BBC Sport, quote, "What

disappoints me is that now everyone who stops you on the street talks about this and doesn't say, 'Congratulations on the World Cup'".

So we just once again want to tip our hats to their incredible performance just a few weeks ago. I mean, it was a superb tournament, two fantastic

teams making it to the final and an amazing Spanish team who lifted the trophy.

Let's get you up to speed on some of the other stories that are on our radar right now. And it has been two years since the U.S. military's

withdrawal from Afghanistan that led to the deaths of 13 American service members and more than 170 Afghan civilians.

In a statement Wednesday, President Joe Biden marked the occasion by honoring those he said sacrificed their own safety and security for that of

their fellow Americans. The President and his administration have, of course, been widely criticized for what was the chaotic withdrawal.

China's new map has its neighbors crying foul. The Philippines, the latest country to object to this most recent version, accusing Beijing of claiming

its territory around the South China Sea. India and Malaysia have voiced similar concerns about their borders. China says other maps are, quote,

problematic and misrepresent its territorial borders.

Iran has been cracking down on dissidents across the country ahead of the one-year anniversary of Mahsa Amini's death. On Wednesday, the trial for

Amini's lawyer begins. He is being charged with propaganda against the system.

Well, for the second time in a matter of weeks, there are serious questions about the health of Mitch McConnell. He is, of course, the U.S. Republican

Senate leader, and he has struggled to answer a question on Wednesday, appearing to freeze while speaking to reporters.

(BEGIN VIDEO CLIP)

SEN. MITCH MCCONNELL (R), MAJORITY LEADER OF THE UNITED STATES SENATE: What are my thoughts about what?

UNIDENTIFIED MALE: Running for reelection in 2026.

MCCONNELL: That's --

UNIDENTIFIED FEMALE: Did you hear the question, Senator, running for reelection in 2026?

MCCONNELL: Yes.

UNIDENTIFIED FEMALE: All right. I'm sorry, you all we're going to need a minute. Senator? Benny?

UNIDENTIFIED MALE: Yes.

(OFF-MIC CONVERSATION)

MCCONNELL: OK.

(END VIDEO CLIP)

ANDERSON: Well, a spokesperson for McConnell told CNN that the senator is fine, saying he simply felt lightheaded and paused for a moment.

[10:25:04]

Well, the last time the 81-year-old senator appeared to shut down on camera was in late July. So what, if anything, does this mean for Mitch

McConnell's future as Senate Republican leader? This is the upper chamber, of course, of the U.S. Congress.

CNN Congressional Reporter Melanie Zanona is with now from Washington. It's a simple question, may not have a simple answer at this point. You know,

what happens next?

MELANIE ZANONA, CNN CAPITOL HILL REPORTER: Well, that is a great question and one that Mitch McConnell's team is currently wondering. And that is why

you have seen Mitch McConnell take steps behind the scenes to try to tamp down speculation about both his health and his political future.

We are told that yesterday, after this freezing episode, McConnell spent some time calling up some of his allies in and around leadership and

reassuring them about his ability to serve. He was also reaching out to donors and reassuring them as well, according to our colleague Manu Raju.

And he also made it a point to carry on with his schedule. Last night, he was at a fundraiser for Congressman Jim Banks, who is running for Senate.

So they're clearly trying to put on a business as usual front. But we still don't know what caused these freezing episodes. There have been other

health scares, including early this year when Mitch McConnell fell. He had a concussion, hit his head, broke some ribs, and was out of the Senate for

six weeks.

And his office has been very tight lipped about his health. They've been very reluctant to disclose information. And because of that, the

speculation and questions about his health and future continue to grow. And I think one of the big questions going forward is how much longer is Mitch

McConnell going to lead Republicans?

He is the longest serving leader in the Senate history, and as of right now, he has until the end of next year. That's how long his current term

is. He has vowed to continue serving as leader until the end of next year. But it's a different question about whether he will run after that and if

he would have the support of his conference to do so.

But so far, most Republicans standing by him and wishing him well. Also should note, President Biden wishing him well as well yesterday. Becky?

ANDERSON: Yes, and a reminder for our viewers, there are no term limits, correct?

ZANONA: That's exactly right. There are no term limits either in the House of Representatives or in the Senate about how long you can serve as a

member or in leadership. And because of these recent health cares, not involving just Mitch McConnell, but also other senators as well, like

Democratic Senator Dianne Feinstein, who is 90 years old, we have seen a renewed push for term limits.

We often see this, not surprisingly, fall along generational lines. A lot of the more younger members calling for term limits, but at the same time,

it is still a really sensitive issue, even though it is being talked about more and more in our political dialogue, Becky.

ANDERSON: Fascinating. Thank you.

Tropical Storm Idalia is moving up the U.S. East Coast after hitting western Florida as a powerful Category 3 hurricane. Currently, bringing

strong winds and heavy rain to North Carolina. The storm weakened, but still caused flooding as it moved up into Georgia.

Here's a look at some of the damage along Florida's Big Bend region as it's known, where as a, Hurricane Idalia, brought record storm surge. Two people

died in crashes blamed on the weather in Florida, and a Georgia man was killed by a falling tree.

Well, as the hurricane approached the southeastern United States, another rare weather event caught on video. Look at this. St. Elmo's fire seen from

the cockpit of a military plane evacuating a Florida Air Force base. It looks like purple lightning, but it's actually luminous plasma in the air.

It can happen when friction inside a storm cloud produces an electric field.

Well, sailors have reported seeing it for hundreds of years. So it's named after St. Elmo, the patron saint of sailors. It's not dangerous on its own,

but it often signals that lightning is coming. Amazing, huh.

You're watching CONNECT THE WORLD with me, Becky Anderson. Time here just before 06:30, live from our Middle East broadcasting headquarters in Abu

Dhabi.

Still ahead, fallout from UBS's emergency takeover from Credit Suisse Bank. What the bank's president says must be done to save billions of dollars and

how investors are reacting. And a real estate giant in China with billions of dollars in losses could leave its creditors holding the bag.

(COMMERCIAL BREAK)

[10:32:32]

ANDERSON: Welcome back. I'm Becky Anderson in Abu Dhabi watching CONNECT THE WORLD. Time here 6:30 in the evening or just after.

Your headlines this hour, at least 73 people were killed when a fire broke out inside a residential building in Johannesburg. Officials say the

building housed migrants and others living in settlements inside. One survivor tells CNN a gate used to enter and exit the building was closed,

preventing people from escaping.

The military coup in Gabon has been widely criticized by the international community. On Wednesday, military leaders placed President Ali Bongo under

house arrest and named a top general as the country's transitional leader. The power grabbing Gabon follows a series of recent military coups in

Africa.

The U.S. says Russia is so desperate for ammunition to use in Ukraine that it's negotiating a major arms deal with North Korea. Washington says it's

concerned that talks are, quote, actively advancing and that two Russian delegations have traveled to North Korea since July.

Well, at this hour, bondholders for one of China's biggest builders are taking a crucial vote on whether to extend repayment on a more than $500

million note. Country Garden, the organization says it's struggling to stay in business and is on the brink of default after reporting what was a

record loss.

Now, if this extension is voted down, Country Garden could become the biggest Chinese real estate company to default since Evergrande, which was

a default, of course, back in 2021. Country Garden lists more than 3,000 active construction sites, including a handful in Australia, Indonesia and

in the United States.

CNN's Kristie Lu Stout has more for you from Hong Kong.

KRISTIE LU STOUT, CNN CORRESPONDENT: Last year was China's largest residential developer. Now Country Garden is battling a liquidity crisis.

On Wednesday that warned it could default on its vast debts as it reported a loss of $7 billion for the first half of the year.

In a filing to the Hong Kong Stock Exchange, Country Garden said this, quote, "The company felt deeply remorseful for the unsatisfactory

performance," unquote. Now Country Garden has nearly $200 billion in total liabilities and is facing mounting pressure to pay off its debts. Instead,

it was caught off guard by the depth and persistence of China's property slump especially in smaller Chinese.

[10:35:00]

For the past two years, China has been mired in a historic property slowdown, resulting in uncompleted homes and unpaid suppliers and

creditors. And the slump has been deepening, with new home sales falling more than 34% year-on-year in July. Chinese officials have introduced

measures to shore up the market.

On Wednesday, the Chinese megacity Guangzhou relaxed mortgage rules for home buyers. Analysts say such measures have not been enough. Consumers are

reluctant to buy new homes because of falling home prices and rising unemployment. And with Country Garden now warning of default, some fear the

liquidity crisis could spread to China's wider economy and even abroad.

Kristie Lu Stout, CNN, Hong Kong.

ANDERSON: Well, UBS feeling the fallout from its emergency rescue of Credit Suisse Bank earlier this year. The combined bank now expects to cut about

3,000 jobs in Switzerland as it tries to save about $10 billion over the next few years. The CEO calls the planned job cuts unavoidable.

The announcement bad news for employers, but good news for investors, with outlooked cost savings coming in ahead of schedule. The bank also posted a

huge second quarter profit and all that sending the share price higher. As you can see, there more than 5 percent up on the close.

Anna Stewart connecting us from London. It's interesting what makes an investor happy, certainly not always what makes an employee happy, and that

happens time and time again. But I think it was really important to see just where this combined bank was at and certainly get a sense of where

it's going, because this was, after all this emergency merger just earlier on this year of two huge organizations.

ANNA STEWART, CNN REPORTER: Yes, an emergency takeover, a shotgun marriage, if you like. Everyone wants to see what happens as a result of that. And

we've had to actually wait a little while. These results were delayed while in their very difficult honeymoon period, they integrated the two

businesses and, of course, the balance books as well.

And it's really interesting just to see what a good deal that actually was for UBS in the so-called negative goodwill charge. It's $29 billion. It's

pretty much the entire profit for this quarter. It's certainly a record for UBS. Essentially, that means all Credit Suite's assets minus what UBS paid

for it, which wasn't very much, Becky, I have to say.

Other standouts from this was the controversial, I think, news that they are going to absorb the Credit Suite domestic bank into UBS. There were

lots of discussions about whether or not they would have to spin that off. There were some protests when the acquisition was first announced,

essentially because this reduces the number of banks domestically that people can use.

So about one in three people in Switzerland will now be using this one bank once the entire integration has happened. As you mentioned, jobs. That was

the moment in this results where you could not pause. I mean, we already saw 8,000 jobs disappear from Credit Suisse. Those were voluntary.

They earmarked another 3,000 today as a result of this merger. But they haven't put a figure on the total number of jobs that will be lost. They

did put a figure, as you said, though, on what the cost savings will be by the end of 2026, a number that, of course, investors like $10 billion. And

to achieve that, you would imagine they will have to cut many more jobs.

And actually, looking at some analysts' comments today, they're expecting perhaps between 30,000 and 35,000 jobs to be cut overall as a result of

this. So certainly plenty of good news for investors. Less good news if you work for Credit Suisse and UBS, particularly in Switzerland.

ANDERSON: Yes, absolutely.

Thank you, Anna. Always good to have you.

Coming up, a volleyball game that broke all records, but it wasn't the players or the score that did it. Stay tuned to find out why this showdown

in Nebraska is being celebrated by female athletes everywhere.

(COMMERCIAL BREAK)

[10:41:08]

ANDERSON: History was made at a U.S. college football game. It wasn't a football game at all, it was a volleyball game. Apologies. Memorial Stadium

in Lincoln, Nebraska hosted the University of Nebraska showdown against in state opponent Omaha. Now, a record breaking 92,000 fans were there to

watch. That's the most ever at a women's sporting event.

Amanda Davies joins me now. Listen, 92,000 at any sporting event in house is a huge number. This is remarkable, Amanda.

DAVIES: It is. And you know what, Becky? After all the negativity and the hurt so, many people have felt across women's sport and as what have played

out over the last 10 days, this is such an antidote. The pictures are epic. And it had been dubbed Volleyball Day. A real chance for this college to

celebrate their women's volleyball team.

And boy, did they do it. It's actually a city in Nebraska with only a population of 2 million people, and 92,003 turned up to celebrate this

moment. The previous best record for women's sport had been set, you might remember, in the Spanish women's football, Barcelona playing against

Wolfsburg in the Champions League at the camp now, just last year. This is another step up.

And from what we're seeing, we're going to have to build some bigger stadiums. Are we?

ANDERSON: I'm just thinking if you were like in seat 91,480 right at the back, how much you actually see, because that volleyball court is quite

small compared to, for example, a soccer pitch. Anyway, it's brilliant, and you're absolutely right. What an antidote to the, you know, the story,

let's call it that we've been covering for the last 11 days.

Amanda, thank you. Amanda is back with "WORLD SPORT" after this short break. I'm back top of the hour for you.

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(WORLD SPORT)

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