In the headlines
European banking stocks are down sharply this morning, after the takeover of troubled lender Credit Suisse by its rival UBS failed to ease fears of a wider crisis. Switzerland’s second-largest bank is “by far the biggest global financial institution to surrender its independence” since 2008, says John Authers in Bloomberg. Boris Johnson is publishing a 50-page defence of his conduct in the Partygate scandal this afternoon. The former PM will make what he calls a “compelling” case that he did not mislead parliament, ahead of a four-hour grilling by the Commons Privileges Committee on Wednesday. Food banks will stock venison under a pilot scheme to address both the cost-of-living crisis and deer overpopulation. The Country Food Trust will serve up a million portions of wild venison ragu this year; if it goes down well, the dish will be added to the menu in schools, hospitals and prisons.