Episode Details

Credit Suisse sets aside CHF3bn to launch a public tender off with the aim of buying back its debt securities. The IMF warns of an upcoming global growth downgrade. Managing Director Kristalina Georgieva tells CNBC that “multiple shocks” are to blame and that drastic central bank moves are required to rein in inflation. The Dow is down but Wall Street is still set for a large weekly gain ahead of the non-farm payrolls. We are live in Prague at the inaugural summit of the European Political Community where Polish PM Mateusz Morawiecki tells us Germany’s addiction to cheap Russian gas and its “disastrous” energy policy have left the rest of Europe in a vulnerable position. And in tech news, Samsung posts its first quarterly decline for 3 years as it wrestles with a global slowdown and reduced memory chip demand.

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