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Greece's shock referendum spells at least 10 more weeks of deep freeze for global investment and that hiatus may be enough to tip the world economy back into recession this winter.

Call it putting a gloss on some bad news, but Credit Suisse chief Brady Dougan reckons the bank is ahead of the pack with Tuesday's announcement of an overhaul of its investment banking operations.

French banks and lenders exposed to Greece and other weak euro zone countries slumped on Tuesday after Greece's leader said he would put a bailout plan to a referendum, raising the risk of a disorderly default.

French President Nicolas Sarkozy will discuss Greece's decision to hold a referendum on its bailout deal with German Chancellor Angela Merkel on Tuesday afternoon and then hold an urgent ministerial meeting, Sarkozy's office said.

French banks Credit Agricole, Societe Generale and BNP Paribas --all of which are believed to be heavily exposed to Greek debt-- are down more than 10 percent.

French banks and other lenders exposed to Greece and other weak euro zone countries slumped on Tuesday after Greece's leader said he would put a bailout plan to a referendum, raising the risk of a disorderly default.

Prime Minister George Papandreou's shock decision to call a referendum on Greece's bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis.

Prime Minister George Papandreou's shock decision to call a referendum on Greece's bailout drew veiled threats from Germany on Tuesday and hammered markets edgy over the euro zone crisis.

Greece's shock decision to hold a referendum on its euro zone bail-out package sent investors scurrying for safer investments on Tuesday, hammering stocks and punishing the euro.

Renewed worries about the slow progress in resolving the euro zone's debt crisis dampened investor appetite for risk, sending Asian shares and commodities lower Tuesday while keeping pressure on the euro.

Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.

Banks led European shares lower on Monday, giving up some of last week's hefty gains as demand for detail on the recent euro zone debt deal teed up a weak end to a bumper month, with the broader market on course to snap a five-month losing streak.

European shares extended the previous session's rally Friday, with investors still buoyant over a deal struck by euro zone leaders early Thursday to help end the bloc's two-year-old debt crisis.

Asian stocks headed for their best week in nearly three years after a long-awaited plan to resolve the European debt crisis sparked a huge relief rally in riskier assets, while the euro took a breather after jumping to a seven-week high.

The late-night rescue package agreed by euro zone leaders to cool their dangerous debt crisis will at least allow investors to look at other things for a while.

Europe's banks were told to cut dividends and bonuses to help them find 106 billion euros ($146 billion) to shore up their capital, and agreed to halve the value of their Greek government debt.

World stocks and the euro rose to their highest levels in nearly two months on Thursday after European leaders struck a deal to resolve a two-year-old sovereign debt crisis, which threatens the survival of the single currency.

European stock index futures fell on Wednesday, after Asian shares traded lower for most part on growing concerns that the outcome from a key meeting of European policymakers to contain the debt crisis may fall short of expectations.

Asian shares declined on Wednesday ahead of a key meeting of European policymakers later in the session, with concerns heightening that the outcome to contain Europe's sovereign debt crisis could fall short of expectations.

Asian shares declined Wednesday ahead of a key meeting of European policymakers later in the session, as investors feared the effort to contain Europe's sovereign debt crisis could fall short.

The Bank of Canada will keep rates on hold until the third quarter of next year amid slow global growth and the risk that Europe's debt crisis will linger on, according to a Reuters survey released on Tuesday.

U.S. wholesale prices rose at their fastest pace in five months in September as the cost of gasoline surged, but a small gain in core prices suggested the price pressure was unlikely to be sustained.

Stock index futures pointed to a higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.6-0.7 percent.

Hyundai Oilbank, South Korea's smallest crude oil refiner, has narrowed down a group of banks to handle its up to $2 billion IPO planned for early next year, with Goldman Sachs, Credit Suisse, and Citigroup among the firms selected, sources with direct knowledge of the matter said on Friday.

Gold fell nearly one percent and silver dropped three percent as precious metals followed the stocks down in a generally gloomy outlook for U.S. and European economies.

Stagnation is probably the best many of the world's biggest developed economies can hope for over the next year, with several facing a significant chance of recession, Reuters polls of around 350 economists showed on Thursday.

BNP Paribas cut its gold price forecasts for 2011 through 2013, following the recent pullback in the precious metal's prices and said a further correction may be possible in the near term.

The euro rose to its highest in more than a week versus the dollar Monday, supported by a renewed German and French pledge to unveil a comprehensive plan by the end of the month to rescue the region from a sovereign debt crisis.

Franco-Belgian bank Dexia agreed early on Monday to the nationalization of its Belgian banking division and secured 90 billion euros ($121 billion) in state guarantees in a rescue that could pressure other euro zone governments to strengthen their banks.