Health Minister Jens Spahn called on Tuesday for further restrictions as Germany's rate of coronavirus infections hit a record high and more politicians backed compulsory vaccinations, Reuters reported. The seven-day incidence rate jumped to 399.8 per 100,000 people on Tuesday, data from the Robert Koch Institute for infectious diseases showed, the 16th straight day it has hit a record level. As the number of COVID-19 deaths in Germany nears 100,000, the United States advised on Monday against travel there.

The U.K. government will temporarily run gas and electricity supplier Bulb as the energy crunch deepens, the first forced nationalization of a British company since the 2008 banking crisis, Bloomberg News reported. The government and energy regulator Ofgem will ensure uninterrupted supplies to Bulb’s 1.7 million customers by appointing a special administrator. Costs for running the seventh-largest retailer will be supported by Treasury. The process is being carried out “in the quickest possible timeframe,” a government spokesperson said in a statement.

The German economy is taking "a breather" as a lack of goods and labour as well as new restrictions designed to fight the coronavirus pandemic put an end to its recent boom, the country's central bank said on Monday, Reuters reported. The Bundesbank also warned that inflation in Europe's largest economy was likely to stay well above 3% for some time and upcoming wage negotiations should deliver large increases. Germany's economy boomed in the first half of the year as services reopened for business.

Telecom Italia (TIM) has received a 10.8 billion euro ($12 billion) approach from U.S. fund KKR aimed at taking Italy's biggest phone group private, the company said on Sunday, Reuters reported. KKR's move comes as TIM's CEO Luigi Gubitosi battles for survival after coming under fire from top investor Vivendi following two profit warnings in three months. TIM said KKR had set an indicative price of 0.505 euros for its possible buyout offer -- a 45.7% premium to the ordinary shares' closing price on Friday. KKR would also offer the same price for TIM's savings shares.

CSA, the Czech flag carrier, has lost 105 million Czech Crown ($4.6 million) in the first nine months of the year. However, it is making sufficient progress in paying off its debts, and so it will remain in the process of business restructuring and will not be declared bankrupt, SimpleFlying.com reported. The insolvency administrator of CSA announced that he was satisfied with the financial state of the Czech flag carrier in a report seen by Simple Flying. CSA will remain in the process of business restructuring and will not enter bankruptcy.

Auction houses and shoppers seeking new clothes for the Christmas holidays lifted British retail sales last month by more than expected, adding to recent signs that a slowdown in the economy might have abated slightly, Reuters reported. Retail sales volumes rose by 0.8% month-on-month in October, the Office for National Statistics said. A Reuters poll of economists had pointed to a 0.5% increase. Retail sales are now 5.8% above the level of February 2020, before the COVID-19 pandemic. Auction houses were an especially strong driver of retail sales growth in October, the ONS said.

Greece’s gross domestic product should return to its pre-pandemic level by the end of next year, according to its final budget for 2022, Bloomberg News reported. That outlook for the economy to shake off the slump in the fourth quarter reflects better-than-expected growth of 6.9% seen for this year, a projection that is still lower than that of the European Commission. For 2022, the forecasts envisage expansion of 4.5%. The country’s improved growth outlook will help reduce a budget deficit and debt burden which remains the highest in Europe, an ongoing scar from its decade-long crisis.

British and European Union negotiators highlighted significant gaps on Friday in their positions on trading arrangements for Northern Ireland despite a senior British minister expressing confidence of breaking the impasse, Reuters reported. Britain and the EU agreed to intensify efforts to resolve difficulties over trade from the UK mainland to the British province this week after Brussels cautiously welcomed a change in tone from London following weeks of verbal sparring.

The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won’t add to the squeeze by raising interest rates anytime soon, the Associated Press reported. Christine Lagarde’s message that it’s “highly unlikely” the bank will increase borrowing rates from record lows next year comes as other central banks around the world, including the U.S.

Business registrations in Hungary were up 1% in the third quarter of 2021 on a quarterly basis after falling by 2.2% in Q2, state news wire MTI reports, citing data by statistical agency Eurostat, the Budapest Business Journal reported. Bankruptcy declarations dropped by 8.5% in Q3 after they had risen by 2.7% in Q2. Business registrations in the EU in July-September were down 3.4% following a 5.6% growth in Q2.