Across Europe, governments and businesses are maneuvering to try to stop a surge in coronavirus cases — driven by the rapid spread of the Delta variant — from hampering the continent’s recovery, the New York Times reported. For the past few months, the relaxation of pandemic restrictions and the growing ranks of the vaccinated have propelled the economy forward. The European Commission recently upgraded its forecasts for the region.

A company owned by the billionaire Barclay family is trying to refinance a $200 million loan it received from Greensill Capital, a move that would potentially offer some relief to Credit Suisse Group AG funds that invested in debt arranged by the now-defunct specialty lender, Bloomberg News reported. Shop Direct Holdings Ltd. is in advanced talks to refinance the debt from Greensill, which was then sold on to funds run by Credit Suisse. The loan was unpaid as of June 29, according to a Credit Suisse presentation seen by Bloomberg.

The new airline being created to replace the long financially ailing Alitalia will take off on Oct. 15 with its first flights, the Italian Economy Ministry announced on Thursday, the Associated Press reported. In a statement, the ministry said the new company, ITA, will be fully operating on that date, following the positive outcome of discussions with the European Union’s executive commission. Alitalia’s last flights apparently will operate on Oct. 14.

Measured by the number of fatalities, the current floods in Germany constitute the worst flooding catastrophe since the storm flood along the North Sea coast in 1962, the World Socialist Web Site reported. Officially, more than 180 people have died so far, with at least 156 in Germany and 31 in Belgium. Thousands of people remain unaccounted for. People around the world are horrified by the devastation wrought by the floods. Drone video and before-and-after pictures reveal the extent of the destruction. The high waters had an especially horrific impact in the Eifel region.