Large U.S. banks have managed their exposure to Credit Suisse in recent months and view risks from the lender as contained so far, according to three industry sources on Wednesday who declined to be identified because of the sensitivity of the situation.

European Central Bank policymakers are meeting on Thursday amidst turmoil in financial markets that could force it to divert from plans for another hefty interest rate hike even though inflation remains too high.

Short sellers had amassed bearish positions worth more than $15.7 billion against European banks by Tuesday, after the collapse of Silicon Valley Bank sparked contagion fears and sent shares plunging, according to S&P Global Market Intelligence.

Britain is trying to limit the burden on bond dealers as it prepares to sell the highest volume of government debt since the COVID-19 pandemic against a backdrop of turbulent markets, the head of the UK Debt Management Office (DMO) said on Wednesday.

Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday.

Europe's stock markets and the euro slumped Wednesday on renewed fears of contagion following the collapse of Silicon Valley Bank.

Credit Suisse lost almost a quarter of its value on Wednesday, dropping to a new record low after its largest investor said it could not provide the Swiss bank with more financial assistance.

Silicon Valley Bank's new Chief Executive Tim Mayopoulos on Tuesday urged the failed bank's top venture capital clients to move their deposits to its newly created bridge entity, people who attended a virtual meeting with him said.

Credit Suisse said in its 2022 annual report the bank has identified "material weaknesses" in internal controls over financial reporting and not yet stemmed customer outflows.

Emergency measures by the Fed and the U.S. government on Sunday to guarantee bank deposits have failed to reassure markets after Silicon Valley Bank and Signature Bank collapsed.

Credit Suisse has postponed publication of its annual report after a last-minute call from the United States Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements.

Credit Suisse has received regulatory green light from China after years of waiting to launch a full-fledged wealth management business in the world's second-biggest economy, according to a company memo reviewed by Reuters.

Swiss regulators have rebuked Credit Suisse for "serious" failings in its handling of a multi-billion business with now defunct financier Greensill, the third such public censure in two years.

HSBC HSBA.L> said it still expects to complete the sale of its Russia business in first-half 2023, in the most significant update on the progress of the deal since it said in July 2022 it had agreed to sell the unit to local lender Expobank.

Bao Fan is the CEO of China Renaissance Holdings, one of the country's top investment firms.

European banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they stop directly financing new oil and gas fields this year, investors managing assets worth more than $1.5 trillion said on Friday.

UK inflation slowed to 10.5 percent in December -- still around 40-year highs and more than five times the BoE's official target level of two percent.

The venture capital industry remains male-dominated, and female led start-ups face systemic biases as they struggle to rally enough funds for their ventures.

Novartis on Wednesday predicted that core operating income would grow in a "mid single digit" percentage range in 2023 following stagnation last year, as the Swiss drugmaker prepares to spin off its Sandoz generics business.

Private equity funds are rethinking how they pull off large deals after a 40.4% contraction in global buyout activity amid a shortage of debt financing caused by rising interest rates and banks' reluctance to open their money taps.

Corporate earnings growth is expected to slow in the year ahead in many countries as higher inflation and rising interest rates take an even bigger toll and companies brace for the likelihood of a global economic downturn.

European shares inched higher on Friday as gains in industrial and financial stocks on China-led optimism offset weakness in the energy sector, while Credit Suisse climbed on news of a capital raise.

Credit Suisse shares and bonds took another hit on Wednesday in a sign the embattled Swiss bank is struggling to regain investor confidence ahead of a planned $2.4 billion fundraising to help pay for a major overhaul.

Credit Suisse shares slid below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in a cash call aimed at raising $2.3 billion for the loss-making bank.

European stocks were subdued on Friday, with retail shares coming under pressure on fears of a bumpy holiday shopping season due to high inflation and slowing global economic growth.

Credit Suisse predicted a surprise fourth-quarter pre-tax loss of up to $1.6 billion as the beleaguered bank undertakes a radical overhaul, sending stocks tumbling again on Wednesday.

Credit Suisse has cut eight jobs in its Southeast Asia investment banking and capital markets team, two sources familiar with the matter said, just weeks after the Swiss bank announced a major global restructuring plan.

European stocks pared losses on Thursday after the European Central Bank raised interest rates by 75 basis points, matching market expectations, and signalled the need for more hikes to bring down record-high inflation.

Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges.

New Credit Suisse chief executive Ulrich Koerner, faced with trying to turn around the beleaguered bank following multiple scandals, is set to unveil his strategic road map on Thursday.