London Heathrow airport’s losses from two years of coronavirus disruption swelled to 3.8 billion pounds ($5.2 billion), leaving its finances hanging on a summer travel rebound and the go-ahead from regulators to raise prices, Bloomberg News reported. The U.K. hub had a loss of 1.8 billion pounds last year -- narrowing slightly from 2020 -- after passenger numbers slumped to the lowest since 1972, Heathrow said in an earnings statement on Wednesday.

The International Monetary Fund told the Bank of England on Wednesday to be clear about its plans to withdraw stimulus for Britain's economy, following criticism of the central bank's communications in recent months, Reuters reported. In an annual review, the IMF said high inflation and Brexit could hurt growth in Britain in the years ahead. While IMF directors backed the BoE's decision to raise interest rates in December and February and start winding down its 895 billion pounds ($1.22 trillion) quantitative easing programme, they had some communications advice for the BoE.

Slovenia’s premier moved to block a controversial deal that would hand a large chunk of the country’s biggest tourism group to a buyer with ties to the family of Hungarian Prime Minister Viktor Orban, Bloomberg News reported. Prime Minister Janez Jansa’s cabinet on Monday approved a 41.6 million-euro ($47.2 million) boost to the capital of the country’s Sovereign Holding, allowing it to exercise an option to buy the 43.2% stake in Sava d.d., which controls hotels spanning the Adriatic coast to the shore of picturesque Lake Bled in the Alps.

U.S. President Joe Biden unleashed sanctions targeting Russia’s sale of sovereign debt abroad and the country’s elites, responding to what he described as the start of Vladimir Putin’s invasion of neighboring Ukraine, Bloomberg News reported. “He’s setting up a rationale to take more territory by force,” Biden said Tuesday at the White House. “This is the beginning of a Russian invasion of Ukraine.” Biden said that he’s sending an unspecified number of additional U.S. troops to the Baltics in a defensive move to defend NATO countries.

Germany and the European Union are in a position to decide on further sanctions against Russia in the event of a complete Russian invasion of Ukraine, which cannot be ruled out, Chancellor Olaf Scholz said on Tuesday, Reuters reported. Scholz said Russia's recognition of the two breakaway regions of Luhansk and Donetsk in eastern Ukraine was not compatible with international law and endangered the sovereignty of Ukraine. "We cannot accept this," Scholz was quoted as saying by broadcaster RTL, adding that respecting borders was important for peace in Europe.

London’s transport authority could declare bankruptcy in a matter of days if the government fails to provide continued financial support, The Guardian reported. Transport for London (TfL) saw its income severely reduced during the Covid-19 pandemic because of the sudden lack of passengers traveling on the network. The government bolstered the public body, which relies on fare revenue to fund its operations, with a series of short-term funding deals. However, the latest ran out at midnight on Friday, and an extension is yet to be agreed.

The Commercial Court in Zagreb has opened the pre-bankruptcy proceedings of Marijo Mendek's company Selection MM, known as the most famous Croatian luxury food importer and premium wines, Total-Croatia-News.com reported. The move was initiated at Mendek's own request due to "threats of insolvency" as well as blocked accounts and an established debt of about 219,000 kuna. In his own proposal, Mendek also listed the assets owned by MM Selection, which also includes the MM building in Ilica in Zagreb's Kustosija, three Citroen delivery vehicles and a mini cooper one.

Pressure is piling up on Riksbank Governor Stefan Ingves to unwind the central bank’s ultra-loose policy as Sweden’s tight labor market and rising energy prices starts to translate into broader inflation, Bloomberg News reported. The Nordic nation has recovered briskly from the pandemic and its economy is showing signs of overheating, prompting critics within the bank as well as externally to push for withdrawing stimulus.

Italy’s government approved almost 8 billion euros ($9 billion) in aid to shield consumers and companies from soaring energy prices that are weighing on the economic outlook, Bloomberg News reported. Some 6 billion euros were allocated for energy aid, while other funds will support industries including the automotive sector, Prime Minister Mario Draghi told reporters on Friday. Draghi’s administration had already allotted more than 10 billion euros to offset the energy price spike for consumers.

A former employee of investment bank Lazard was sentenced on Friday to an 18-month suspended jail term by a German court after being found guilty of insider trading, a court spokesperson said, Reuters reported. The ruling by the Frankfurt regional court came after the ex-employee was charged in 2021 for passing on tips about upcoming takeovers of listed firms to the former head of an insurance company for almost two years.