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US and European bank shares tumbled yesterday again. Credit Swiss was hit so badly that Switzerland's central bank stepped in with a safety net. UK Chancellor Jeremy Hunt plans to expand free childcare. Volkswagen is investing even more in electric cars, just in time to cash in on Washington's green tech subsidies.

The Swiss central bank said it would provide a liquidity backstop to Credit Suisse, UK chancellor Jeremy Hunt unveiled a Budget that includes a £4bn expansion of free childcare, and Volkswagen is increasing its investments in electric vehicles.

Mentioned in this podcast:

Swiss central bank offers Credit Suisse liquidity backstop after share plunge

Jeremy Hunt’s “Budget for growth” boosts UK childcare

VW ramps up investments in electric car transition with €180bn injection

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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