This week as small businesses across Italy reopened after nearly two months of lockdown, Franco Magliocchetti, a 32-year-old restaurateur in Rome, spent most of his day sat glancing at rows of empty tables. Mr Magliocchetti and his business partner, Fabio Trovato, are crossing their fingers that the lifting of restrictions will see the country bounce back from what is forecast to be the sharpest recession in its modern history.

Norwegian Air Shuttle ASA dropped as much as 60% after completing a recapitalization that hands control of the company to aircraft lessors and bondholders, Bloomberg News reported. Investors had in recent days stubbornly traded Norwegian’s shares far above the price of a discounted equity issue that came on top of an $830 million debt conversion.

The U.K. government has introduced new insolvency legislation to help businesses that are struggling from the economic impacts of coronavirus, Bloomberg News reported. The new Corporate Insolvency and Governance Bill will create more opportunities to save companies in difficulty and offer better protection from creditors during the pandemic, according to a statement Wednesday. Under the bill, U.K. companies will have access to new tools to restructure their debt in order to keep operating through the crisis.

Airline Lufthansa said on Thursday it is in advanced talks with the German government’s economic stabilisation fund over a rescue deal worth up to 9 billion euros ($9.9 billion), including the state taking a 20% stake in the company, Reuters reported. Lufthansa said in a statement that the deal would involve the government taking two seats on its supervisory board, but it would only exercise its voting rights as a whole in exceptional cases such as protection against a takeover.

Sweden’s highly contested response to Covid-19 left much of the economy open. Even so, the country is now headed for its worst recession since World War II, Bloomberg News reported. Scandinavia’s biggest economy will shrink 7% this year, Finance Minister Magdalena Andersson said on Tuesday. Shortly after she spoke, the debt office revealed an historic 30-fold spike in borrowing to cover emergency spending amid record job losses. A separate survey showed 40% of businesses in Sweden’s service sector now fear bankruptcy.

Casual Dining Group, a KKR-owned company that runs continental-themed mass market restaurants brands in the U.K., is weighing cutting costs with its landlords and filing for administration, according to a person familiar with the matter, Bloomberg News reported. The owner of Cafe Rouge and Bella Italia, and employer to 6,000 people, said on Monday it hired advisers AlixPartners and law firm Kirkland & Ellis as it mulls alternatives to address liabilities that were last reported at near $300 million one year ago.

Boris Johnson’s chief Brexit negotiator accused the European Union of offering the U.K. only a “low-quality” trade deal as talks between the two sides descended into acrimony, Bloomberg News reported. In a dramatic intervention in the increasingly fractious negotiations over the future U.K.-EU relationship, David Frost complained the bloc is treating Britain as “unworthy” of a fair deal. He told his EU counterpart Michel Barnier to “think again.” The EU is demanding that the U.K.

British luggage brand Antler has collapsed into administration, becoming the latest victim of the coronavirus crisis and its devastating impact on international travel, Reuters reported. Restructuring firm KPMG said on Tuesday it had been appointed administrator to the 106-year old brand, which operates 18 retail stores and one concession outlet. It also sells via its own website, through Amazon and wholesales to several large retail chains across the United Kingdom. It also has third party licence deals in Australia and Asia.

Tech start-ups across Europe are struggling to access coronavirus support schemes because of EU state aid rules, industry groups from several countries say, threatening to undermine Brussels’ attempts to stimulate local rivals to Silicon Valley, the Financial Times reported. More than a dozen tech trade groups, including industry associations in France, Germany, the UK and Ireland, have together written to EU commissioner Margrethe Vestager calling for “more flexibility” in member states’ ability to provide “vital” support to lossmaking but innovative small businesse

Thyssenkrupp AG is considering the sale of units that make steel and submarines as the conglomerate fights for survival in the aftermath of the coronavirus pandemic, Bloomberg News reported. The company said on Monday it will explore “consolidation options” for the two businesses in the latest plank in management’s strategy to downsize the firm and concentrate on higher-margin business areas after years of struggles. “We have taken some difficult decisions that were long overdue,” Chief Executive Officer Martina Merz said in a statement.