Poland is close to overcoming inflation pressures and has done so without overreacting in a way that could have damaged the economy for years, said ruling party leader Jaroslaw Kaczynski, Bloomberg News reported. Polish policy has been aimed at protecting the nation’s labor market, Kaczynski said in Janow Lubelski in the nation’s east on Saturday. An overresponse to the sudden price increases following Russia’s invasion of Ukraine in 2022 could have suppressed the nation’s growth for as long as six years, he added.

Boy George is reportedly facing bankruptcy after a £1.75million damages claim brought by a former Culture Club bandmate, the Mirror reported. The "I'm a Celebrity...Get Me Out of Here! 2022" star, 61, reached an out-of-court settlement with ex-drummer Jon Moss in March this year after being sued for a loss of earnings. Mr Moss, 65, had previously brought legal action against Boy George (real name George O'Dowd), guitarist Roy Hay and bassist Michael Craig, after allegedly being 'expelled' by their manager in September 2018 after 37 years playing together.

Richard Branson's Virgin Orbit Holdings Inc and its subsidiaries in the United States filed a chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday, Reuters reported. Earlier this month, Virgin Orbit filed for chapter 11 bankruptcy protection after the satellite launch company struggled to secure long-term funding following a failed launch in January.

Credit Suisse has lodged a $440 million claim against Japan's SoftBank Group Corp in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm, Reuters reported. The Swiss lender is trying to recover client funds that Greensill had lent to Katerra, a SoftBank-backed U.S. construction group that filed for bankruptcy in 2021. SoftBank has vowed to vigorously fight the claim. The collapse of Greensill, along with a string of scandals, helped dent confidence in the 167-year-old Swiss bank.

Fifty-nine jobs at a historic Dundee business have been saved after a U.S. synthetic sports turf specialist stepped in, Herald Scotland reported. Joint administrators Michelle Elliot and Callum Carmichael, partners of FRP Advisory, have sold Dundee-based carpet yarns specialist Bonar Yarns to Newman Yarns, a new business created for the purposes of the acquisition. Newman Yarns was founded by John Newman, owner of Elite Turf USA, a distributor and installer of synthetic sports turf.

Swiss inflation may be low compared to other countries but is still too high, Swiss National Bank Vice Chairman Martin Schlegel said on Wednesday, hinting at possible further interest rates ahead, Reuters reported. "It is clearly above the level we associate with price stability," Schlegel told an event in Winterthur. "We cannot rule out further interest rate increases." Swiss inflation dipped to 2.9% in March from 3.4% in February, high by Swiss standards and above the SNB's target for inflation at 0-2% - which it defines as price stability.

Hungary’s capital Budapest adopted a “survival package” of cuts to avoid bankruptcy as the opposition-led city’s mayor blamed Prime Minister Viktor Orban’s government for squeezing revenue for political gain, Bloomberg News reported. In the latest clash between Orban’s nationalist government and cities led by Hungary’s fractured opposition, Budapest Mayor Gergely Karacsony said his office would stop paying taxes to the country’s Finance Ministry in an effort to keep providing services including public transport and paychecks for the city’s 27,000 employees.

A $1.2 trillion liquidity crunch looms for Europe’s lenders, testing their ability to stand on their own after more than a decade of easy money from the European Central Bank, the Wall Street Journal reported. The biggest hurdle will come in late June, when banks will have to pay back about 478 billion euros, equivalent to some $525 billion, of ultracheap loans to the central bank. Those loans were handed out at the height of the pandemic to ensure banks kept lending as lockdowns brought business to a halt.

Britain’s inflation rate slowed last month, but is likely to bring only limited relief to households as it stubbornly held in the double digits because of rapidly rising food prices, the New York Times reported. Consumer prices rose 10.1 percent in March from a year earlier, the Office for National Statistics said on Wednesday, a slightly slower pace than the 10.4 percent in February. But economists had expected the country’s inflation rate to drop below 10 percent for the first time since the summer.

Spain’s leftist coalition government on Tuesday approved a plan to make available around 50,000 houses for rent at affordable prices as part of measures aimed at curbing soaring rents and house prices, the Associated Press. The apartments will come from the state-controlled SAREB “bad bank” that was set up in 2012 to manage and sell off troubled banks most toxic assets during the international financial crisis. The SAREB plan follows a much-hailed agreement last week between the coalition parties and their parliamentary supporters for what would be democratic Spain’s first-ever housing law.