Austria has arrested Rene Benko, the founder of fallen property group Signa, on suspicion of trying to hide assets from insolvency administrators and creditors, prosecutors said on Thursday. Benko, 47, was arrested at his villa in Innsbruck early on Thursday, Austrian media reported. His lawyer, Norbert Wess, said that a court would need to decide within 48 hours whether his client should remain in custody. Benko has previously denied allegations made against him.

Sweden’s Prime Minister Ulf Kristersson said there needs to be a rethink of how governments and private enterprise in Europe work together in the wake of the collapse of battery maker Northvolt AB, Bloomberg News reported.

Norway’s central bank held its key policy rate at 4.5% and reaffirmed that it will likely begin monetary policy easing in March, but noted concern over potential trade tariffs from the U.S., the Wall Street Journal reported. The policy rate has been at 4.5% since December 2023 and has helped to significantly dampen inflation from its peak, but a rapid rise in business costs will likely stoke inflation ahead, Norges Bank said.

Investment firm CIM Capital has agreed to a relaunch of the Lunch Garden restaurant chain. Of the 62 locations, 41 can reopen and roughly half of the employees can return to work, Lunch Garden announced on Wednesday, according to the Brussels Times. The exact date for the reopening is still unknown. The restaurant chain will continue with a more agile structure and will be free of its historical debts, according to a press release. Out of the 41 restaurants, 24 will be company-operated, while 17 will be managed by independent operators.

Northvolt AB has yet to line up investors willing to commit funds to allow the Swedish battery maker to emerge from chapter 11 protection, Bloomberg News reported. The electric vehicle supplier’s cash position is dwindling as investors wait for others to step forward first in the ongoing funding talks. “Numerous parties have submitted indications of interest in Northvolt’s financing process,” a spokesperson for Northvolt said.

German shipbuilding group FSG-Nobiskrug has received offers from potential investors from industry-related companies after it applied for insolvency in December 2024, BairdMaritime.com reported. Hendrik Gittermann, one of two assigned provisional insolvency administrators, confirmed that discussions with interested parties have reached an advanced stage. However, Gittermann ruled out the complete and immediate resumption of production at the group's Rendsburg and Flensburg sites by the beginning of February even as the group comes under new management.

Co-founder Peter Jansson confirmed the news Tuesday morning on Instagram following a Monday report from the Swedish outlet Ehandel on the company’s filing. According to another story from last week, Sneakersnstuff has made layoffs in addition to ceasing operations in the U.S. and Japan. During the 2023 financial year, operating profit fell in the negative to a tune of nearly $3 million. Sneakersnstuff’s stores in London, Berlin and Paris continue to be open, but Jansson said the original location in Stockholm is “temporarily” closed. The Swedish boutique’s two U.S.

The Dutch government is seeking to prevent the rollout of "buy now, pay later" services in physical retail outlets due to the financial risks they pose for consumers, according to a letter sent by Finance Minister Eelco Heinen to parliament on Tuesday, Reuters reported. "Buy now, pay later" (BNPL) schemes surged in popularity for online purchases since the COVID-19 pandemic and allows consumers to split payments over time into smaller, interest-free installments. These loans are often provided by digital lenders such as Sweden's Klarna.