1. Trump sues the news
Donald Trump has sued cable TV network CNN, claiming defamation and seeking punitive damages of $US475 million, according to a Florida court filing on Monday. (The Guardian)

The US cable news station has attempted to smear the former US president “with a series of ever-more scandalous, false, and defamatory labels of ‘racist,’ ‘Russian lackey,’ ‘insurrectionist,’ and ultimately ‘Hitler’,” Trump’s lawyers claimed. The lawsuit has been filed in federal court in Fort Lauderdale.

“Beyond simply highlighting any negative information about the plaintiff and ignoring all positive information about him, CNN has sought to use its massive influence, purportedly as a ‘trusted’ news source, to defame the plaintiff in the minds of its viewers and readers for the purpose of defeating him politically,” the filing states.

2. Credit Suisse considers scaling back investment bank, shares slide 11%
Credit Suisse shares slid by as much as 11.5% and its bonds hit record lows on Monday before clawing back some of the losses amid concerns about the lender’s ability to restructure its business without asking for more money.

The situation prompted Swiss regulator FINMA and the Bank of England in London, where the lender has a major hub, to monitor what was happening and work closely together, one source familiar with the matter said. (AFR)

3. Elon Musk receives Ukraine backlash after Twitter poll
American tech billionaire Elon Musk drew the public ire of Ukraine’s top officials on Monday after the Tesla CEO tweeted what he claimed was the most likely outcome of Russia’s invasion of Ukraine. (CNBC)

“F-- off is my very diplomatic reply to you,” Ukraine’s ambassador to Germany, Andrij Melnyk, wrote in response to Musk’s tweet. “The only outcome is that now no Ukrainian will EVER buy your f…ing tesla crap. So good luck to you.”

Musk posted a Twitter poll gauging support for what he claimed was a likely outcome of the seven-month conflict. Specifically:

1. That the Ukrainian territory of Crimea, which Russia annexed by force in 2014, be permanently given to Russia and guaranteed a permanent water supply.
2. That the four regions of eastern Ukraine where Russia held sham referendums last month before illegally annexing the land be put to new referendums, this time organized by the United Nations.
3. That Ukraine should be forced to remain “neutral,” accomplishing the long-term Kremlin goal of barring Ukraine from joining the NATO defensive alliance.

Ukrainian President Volodymr Zelenskyy responded with a Twitter poll of his own.

“Which Elon Musk do you like more,” Zelenskyy asked. “The one who supports Ukraine” or “The one who supports Russia.”

4. Japanese banks take on Carsales’ debt
Japanese lenders Mizuho and SMBC have joined Carsales.Com’s now 10-strong bank syndicate and helped fuel its newly acquired trucks and recreational vehicle platforms owner Trader Interactive.

Following months of talks with existing and new banks, Carsales has ruled off a record $1.6 billion debt package, split into 18-month, three- and five-year credit facilities. (AFR)

5. ASX takes a hike
ASX futures were up 112 points or 1.74% to 6564 at 7am AEDT, with the AUD +1.8% at US65.18¢.

On Wall St: Dow +2.66% S&P 500 +2.9% Nasdaq +2.27%.

Brent oil +4.5% at $US88.93 a barrel.

Iron ore -0.7% to $US95.30 a tonne.

10-year yield: US 3.64% Aus 3.80% UK 4.00%