after major concerns over the bank s finances. its shares fell by almost a third on wednesday at one point, forcing the swiss central bank to take action. it issued a statement saying credit suisse can borrow up to $54 billion us to boost its bottom line. today the shares have rebounded and are currently up just over 20%. the selling has continued in asia today, with japan s topix banks index falling more than 4%, after recording its worst day in three years earlier this week. we re nowjoined by craig erlam, who s senior market analyst at oanda. for the story to come out was unfortunate timing. it has the backing of the central bank. covering short positions? it keeps investors that they are holding onto something that is not going to become more innocuous. we will see more volatility over the coming days and now investors are going to be looking at more financial institutions to see if there are material weaknesses there as well. i don t think this is over at this point, i t
by the opportunity to join one of the biggest clubs in the world. the 44 year old is chelsea s sixth managerial appointment in five years. leicester have said they re disappointed maresca has decided to leave given that he d steered them back to the top flight. spanish football journalist guillem balague has been explaining why chelsea went for their new man. somebody that s got the energy to actually keep improving chelsea and take them to the top four again. all of that comes on the basis of two things. what they saw that he done at leicester city and number two, the interview was very impressive. i think some people walk into the interview feeling that, yeah, we will see, a championship manager, not a lot of experience, came out of it thinking he has to be him. england are among the teams in internationalfriendly action on monday ahead of this month s european championship in germany. it s approaching half time in their match in newcastle against bosnia & herzegovina. engl
In sport more pressure on Arsene Wenger, as arsenal are humiliated in the Champions League. They are thrashed 5 1 by Bayern Munich in the last 16, 10 2 on aggregate. The last of the dambusters. We return to germany with the only surviving member of the air crews that carried out one of the Second World Wars most daring raids. And carol has the weather. Thank you, good morning. The weather has a 3 way split across the country. Windy conditions and showers in the north, dry and bright in the central swathes of the uk and in the central swathes of the uk and in the south, mild, cloudy and damp. I will have more details about 15 minutes. Good morning. First, our main story an upbeat assessment of the economy, but a warning that more austerity lies ahead they are expected to be the key messages when the chancellor, Philip Hammond, delivers first budget later today. He will stress that the government wont shirk difficult decisions to deal with the deficit. But he is expected to find extra mo