Two top Bank of England officials suggested that the U.K. financial system’s rules may have to diverge from the European Union’s after Brexit -- a topic that’s becoming as a major point of contention between the two sides, Bloomberg News reported. Outgoing Governor Mark Carney told Parliament on Tuesday that Britain’s view of EU regulation may change over time, especially since it will no longer be able to help set the rules.

Air Italy’s investors agreed on Tuesday to place the struggling Italian carrier into liquidation, the airline said citing “persistent and structural market problems,” Reuters reported. The decision was taken “unanimously”, the carrier said, but in a separate statement Qatar Airways, which holds a 49% stake, said it would have been ready to support the relaunch and growth of the airline. “Qatar Airways was ready once again to play its part in supporting the growth of the airline, but this would only have been possible with the commitment of all shareholders,” Qatar said.

UniCredit confirmed plans to cut 6,000 jobs in Italy over the next four years as the country’s biggest bank began the negotiation process with unions on Monday over layoffs and branch closures, Reuters reported. In December UniCredit unveiled a new plan to 2023, under which it would cut 8,000 jobs and close 500 branches, angering Italian unions, which said then that they expected 5,500 layoffs in Italy and up to 450 branch closures.

Deal talks and a rally in defensive sectors supported European shares on Monday as investors grappled with the potential impact of the coronavirus, while Irish stocks were hit by a strong showing for the left-wing Sinn Fein in a national election, Reuters reported. The pan-European STOXX 600 index ended 0.07% higher, having marked its best week in three months as part of a broader rebound from an earlier virus-driven sell-off.

Italian bank Monte dei Paschi di Siena’s debt rating could be upgraded by Fitch if the lender manages to complete a planned sale of bad loans without eating into its capital base excessively, the ratings agency said on Monday, Reuters reported. Italy, which owns 68% of Monte dei Paschi after a 2017 bailout, has been in talks with EU competition authorities for months over a scheme to rid the bank of most its remaining impaired loans without subjecting it to heavy losses.

Europe needs clearer rules on how to deal with failing lenders to prevent the “perceived inequality” triggered by cases such as the €3.6bn rescue of Germany’s Nord LB, according to the head of the EU agency created to wind down banks, the Financial Times reported. The Single Resolution Board, headed by Elke König, was formed five years ago in the wake of the eurozone financial crisis to tackle a patchwork of national rules for bank bailouts and give investors more confidence.

Deutsche Bank AG and SSG Capital Management have made a joint bid for an Indian power producer’s debt of 60 billion rupees ($842 million), according to a person familiar with the matter, Bloomberg News reported. The consortium has submitted a binding bid of about 31 billion rupees for the delinquent debt of Chennai-based Coastal Energen Pvt., the person said, asking not to be named as the information isn’t public. The bid seeks a haircut of about 50% on the company’s debt, excluding outstanding accrued interest, the person said.

At the Whitchurch Care Home, emergency buzzers went unanswered, some medicines were not dispensed and many of its frail and elderly residents had not been given a bath, shower or a wash for a month, an official inspector’s report found, the Financial Times reported. A broken elevator meant residents on the second floor could not be taken to hospital appointments. The dismal conditions at the care home in Bristol, south-west England, found in January last year, were a sign of the financial pressures on its manager Four Seasons, Britain’s second-largest care home provider.

Banca Monte dei Paschi di Siena SpA, the state-rescued Italian bank, missed income targets set out in its restructuring plan, which may force the bank to cut an additional 100 million euros ($110 million) of costs, Bloomberg News reported. The Siena-based bank swung to a fourth-quarter loss after it wrote down 1.2 billion euros ($1.3 billion) of deferred tax assets to comply with changes in Italy’s 2020 budget law, it said in a statement on Friday. Net operating income, which excludes the writedowns, totaled 23 million euros on higher revenue and cost reductions.

European Central Bank head Christine Lagarde has warned that the world's central banks have less room to stimulate the economy in case there's a recession, the International New York Times reported on an Associated Press story. Lagarde said in an appearance Thursday before the European Parliament's economic and monetary affairs committee that interest rates and inflation are already low, meaning there is less room to reduce rates further and make credit cheaper to support business activity.