Germany is set to dodge a widely expected recession this year, a source told Reuters on Wednesday, adding to a chorus of voices predicting a brighter outlook for Europe's biggest economy as energy prices fall. Facing soaring gas prices due to the war in Ukraine and supply bottlenecks, consumer prices exploded last year, and the government and economists saw no way around recession. However, a 200-billion-euro relief package to shield consumers from surging energy prices, a mild winter and a readiness to save energy have changed the picture.

Romanian aluminium car parts manufacturer Altur Slatina said that its board decided to waive insolvency proceedings initiated earlier this month, SeeNews.com reported. The company submitted the waiver to an Olt County court, which acknowledged the filing on Thursday, Altur said in a statement filed with the Bucharest Stock Exchange on Friday. On January 4, Altur announced its submission of the application for the launch of insolvency proceedings with the same court.

Britain's lenders are tightening eligibility criteria amid rising interest rates and a cost of living crisis, but demand for borrowing remains elevated, credit data firm Experian said on Tuesday, Reuters reported. Experian's key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms.

The owner of Byron Burger has said it will shut nine restaurants after falling into administration, YahooFinance.com reported. Famously Proper, which owns Byron and fried chicken brand Mother Clucker, said it will cut 218 jobs as a result of the closures. The company was set up after private equity firm Calveton rescued Byron from a previous administration in 2020 following the impact of the pandemic. The company was set up after private equity firm Calveton rescued Byron from a previous administration in 2020 following the impact of the pandemic.

Struggling to remain financially viable, Eat Local Grey Bruce has asked Grey County council to provide $25,000 in direct funding to help the group continue to operate, YahooFinance.com reported. The local non-profit food cooperative that promotes healthy eating and locally grown and produced food recently announced that it is insolvent and may have to file for bankruptcy. In an effort to continue operating, the organization has launched a crowdfunding campaign, is trying to reorganize the business into a more sustainable model and is seeking new volunteers to revitalize the group.

Poland's Rafako said on Thursday that it was planning to file for bankruptcy, a day after Tauron demanded 1.3 billion zloty ($298 million) from a Rafako consortium that built a power plant the state-controlled utility says is faulty, Reuters reported. Rafako, which makes a wide range of boilers, disputes Tauron's claims for damages and fees, but is concerned they could impact its ability to conduct business operations and find an investor it is seeking, the company said in a statement.

Scandinavian airline SAS said on Friday that it had agreed with another two of its aircraft lessors to amend the terms of existing lease contracts as part of its cost cutting efforts, Reuters reported. Crisis-hit SAS, which has been under chapter 11 protection in the U.S. since last year, said in a statement it had now amended contracts with in total 15 lessors representing 59 aircraft. "With these agreements, SAS concludes its lessor negotiations as part of the chapter 11 process," it said.

The UK and European Union are nearing an agreement on customs aimed at reducing trade friction between Great Britain and Northern Ireland as they prepare to intensify wider post-Brexit negotiations, Bloomberg News reported. Officials hope to announce significant progress toward a solution for customs arrangements if discussions go well over the coming days, according to people familiar with the matter. Talks are ongoing and a successful outcome is not guaranteed, the people said.

The German government's net borrowing amounted to 115.4 billion euros ($124.48 billion) in 2022, finance ministry sources said on Thursday, as the COVID-19 pandemic and the war in Ukraine led to a rise in debt, Reuters reported. Last year, government borrowing was at its third-highest level in the history of Germany, following a record figure of 215.4 billion euros in 2021 and 130.5 billion in 2020, according to the sources. The German government had envisaged net borrowing of 138.9 billion euros in 2022.

More than half Germany's companies are struggling to fill vacancies due to a lack of skilled workers, the German Chambers of Commerce and Industry (DIHK) said on Thursday, in the latest sign of growth headwinds belabouring Europe's largest economy, Reuters reported. The proportion of companies facing difficulties hiring was at its highest ever level, the DIHK found in its survey of 22,000 companies, with 53% reporting shortages.