British authorities are exploring the possibility of creating a new digital currency dubbed “Britcoin,” The Hill reported. The Bank of England and the Treasury on Monday said they were weighing the potential benefits of a central bank digital currency, The Associated Press reports. If the new currency is created, it would be a form meant to be used by households and businesses and would exist alongside cash and bank deposits instead of replacing them, the Bank of England said.

The number of people heading out to shops across Britain jumped 87.8% in the week to April 17 versus the previous week as non-essential stores in England reopened after three months of COVID-19 lockdown, market researcher Springboard said on Monday, Reuters reported. The number of people heading to shops across Britain jumped 87.8% last week as non-essential stores reopened after three months of COVID-19 lockdown, researcher Springboard said on Monday.

The European Union’s foreign policy chief said Monday that in the face of the big military buildup of Russian troops near Ukraine’s borders, it will only take “a spark” to set off a confrontation, the Associated Press reported. In a glum assessment of relations with Moscow, Josep Borrell also said that the condition of imprisoned Russian opposition leader Alexei Navalny was “critical” and that the 27-nation group would hold the Kremlin accountable for his health and safety.

Euro zone finance ministers are discussing on Friday how to improve and possibly unify insolvency laws across the 19-nation bloc, to better prepare for a wave of bankruptcies expected when companies are weaned off government emergency pandemic support, Reuters reported. The expected surge in EU corporate bankruptcies will have a knock-on effect on the number of bad loans banks have to handle as the post-pandemic economic recovery starts to take hold and governments begin withdrawing state schemes that are now keeping many non-viable companies on life support.

According to the latest data from Statbel, 599 enterprises were declared bankrupt in Belgium in March 2021, the Brussels Times reported. March’s bankruptcies resulted in 1,445 job losses, which includes 916 full-time positions, 296 part-time jobs and 233 salaried employers. The sectors with the highest numbers of bankruptcies were transportation and other service activities, plus 142 losses in construction, 114 in wholesale and retail trade and 89 in accommodation and food service activities.

More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic, Reuters reported. Britain’s economy shrank by almost 10% last year and millions of people have been unable to work due to lockdown restrictions, but state loan guarantees and wage subsidies have kept most companies and households financially afloat for now. Government figures on Thursday showed 992 companies in England and Wales were declared insolvent in March.

The sticky issue of affordable housing moved up Germany’s political agenda after the country’s top court overturned Berlin’s controversial rent freeze, Bloomberg News reported. The decision on Thursday by the Federal Constitutional Court to topple the aggressive clampdown on rents exposes thousands of voters to higher living expenses and highlights the housing squeeze in German cities. “The ruling is bitter, hitting tenants in 1.5 million Berlin flats hard,” said Lukas Siebenkotten, president of Germany’s tenant association.

The head of the U.K. watchdog scrutinizing politicians and top civil servants taking up private sector jobs called for urgent reform, warning there are no “boundaries at all” to prevent conflicts of interest, Bloomberg News reported. Eric Pickles, chairman of the Advisory Committee on Business Appointments, was responding in a parliamentary hearing Tuesday to the revelation that Bill Crothers -- then the government’s chief commercial officer -- was allowed to work for the now insolvent Greensill Capital while still in post in 2015.

The Biden administration on Thursday announced tough new sanctions on Russia and formally blamed the country’s premier intelligence agency for the sophisticated hacking operation that breached American government agencies and the nation’s largest companies, the New York Times reported. In the broadest effort yet by President Biden to give more teeth to financial sanctions — which in recent years have failed to deter Russian activity — the actions are aimed at choking off lending to the Russian government. In an executive order, Mr.

Norwegian Air now aims to raise up to 6 billion crowns ($711 million) in fresh capital, up from a planned 4.5 billion, to bolster its resources before emerging from bankruptcy protection next month as the pandemic continues to curb travel, Reuters reported. Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North and South America, Southeast Asia and the Middle East before the COVID-19 pandemic plunged the airline into crisis.