European Central Bank President Christine Lagarde said inflation pressures remain powerful and borrowing costs will be raised further to tackle them — cementing expectations for another interest-rate hike at next week’s meeting, Bloomberg News reported. With the full effects of the ECB’s already historic monetary-tightening campaign still materializing, Lagarde reiterated that there’s no clear evidence that underlying inflation has peaked. Food inflation, for one, remains elevated, she said Monday. “Price pressures remain strong,” Lagarde told European Union lawmakers in Brussels.

Switzerland's UBS said Monday that it expects to complete its takeover of longtime rival Credit Suisse as early as next week, the Associated Press reported. The two Zurich-based banks are uniting in a 3 billion-franc ($3.3 billion) deal that was arranged hastily in March by the Swiss government and regulators after Credit Suisse’s stock plunged and jittery depositors quickly pulled out their money. The merger was aimed at stemming upheaval in the global financial system after the collapse of two U.S. banks shook confidence in the sector.

Ilija Batljan, the founder and dominant shareholder of embattled Swedish landlord SBB, stepped down as chief executive officer in a dramatic move that highlights the uphill battle he faces to save his $13 billion empire, Bloomberg News reported. Batljan, who founded Samhallsbyggnadsbolaget i Norden AB in 2017, will hand off executive responsibility as of June 5, the Stockholm-based company said Friday in a statement. He will be replaced by Leiv Synnes, who has served as chief financial officer of Akelius Residential Property AB since 2014.

Valencia-based entrepreneurship-for-all startup Jeff has voluntarily filed for bankruptcy, Tech.eu reported.

NeXR Technologies SE informed that Prof. Dr. Torsten Martini, attorney-at-law specializing in insolvency and reorganization law, GÖRG Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB, has been appointed as provisional insolvency administrator for the company after filing for the opening of insolvency proceedings and has commenced his work, according to a press release. The Berlin-Charlottenburg Local Court (Amtsgericht Berlin-Charlottenburg), as the competent insolvency court, has appointed Prof. Dr. Torsten Martini to safeguard the insolvency assets.

Wejo, a Manchester, England-based company that deals in connected vehicle data, has filed a notice of intention to enter administration to save it from liquidation, InsideRadio.com reported. The company, whose largest shareholder is General Motors Ventures, says it does not expect the move to impact its operations or business, according to BusinessLive. Wejo has been supplying connected car data to at least one U.S. broadcaster and has been working on signing others as clients.

Ireland's High Court on Wednesday ordered the winding up of two sanctions-hit state-owned Russian leasing firms based in Ireland after a group of creditors said the companies had no prospect of clawing back an almost $1.6 billion net deficit, Reuters reported. GTLK Europe DAC and GTLK Europe Capital DAC, whose main business is aircraft leasing, had sought to prevent the appointment of liquidators by applying for court protection from creditors, citing a decree by Russian President Vladimir Putin to relieve $1.5 billion of debt.

Inflation in the eurozone declined to a 15-month low in May, opening a window for the European Central Bank to pause its aggressive interest-rate increases, the Wall Street Journal reported. The data is unlikely to deter the ECB from increasing rates by another quarter percentage point at its June 15 policy meeting, but it could tee up a pause over the summer. Major central banks including the Federal Reserve are trying to judge if and when to halt rate increases as inflation declines and economic growth slows.

The Irish High Court will decide on Wednesday to either wind up or appoint an examiner to two Russian State-owned aircraft and shipping leasing firms – GTLK Europe DAC and GTLK Europe Captial DAC – which are registered in Ireland, the Independent reported. Mr Justice Conor Dignam said that he would give his decision after considering petitions from several creditors of the company to have the two firms wound up, in what would be among the largest liquidations in the history of the State.

German inflation eased to 6.1% in May following several months of declines, even as Europe's biggest economy registered another painful increase in food prices of nearly 15%, the Associated Press reported. Preliminary figures show that the annual inflation rate was lower than the 7.2% registered in April, the Federal Statistical Office said Wednesday. In February, it stood at 8.7%.