Swedbank on Saturday said that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into the bank without enforcement, Reuters reported. The investigation was initiated in 2019 and concerned Swedbank's historic disclosures of information, the company said. In 2019, Swedbank admitted to failings in combating money laundering and said it was under investigation by multiple U.S. authorities.

Workers at Thyssenkrupp Steel Europe voted to approve a sweeping restructuring plan, setting the stage for the revival of Germany's largest steelmaker, contingent on Thyssenkrupp AG's commitment to finance the initiative, Reuters reported. The IG Metall union said on Friday that 77% of participating members supported the plan, with 62% turnout in the vote held from July 21 to September 4. The restructuring programme includes cuts to jobs, working hours, and bonus payments, as well as site closures, but avoids forced redundancies until 2030.

The eurozone economy grew marginally over the three months through June, figures confirmed Friday, leaving the European Central Bank unlikely to cut its key interest rate next week, the Wall Street Journal reported. Across the 20 nations that share the euro, gross domestic product was 0.1% higher than the first quarter, in line with previous estimates. That marks a sharp slowdown from the 0.6% expansion recorded over the first three months of the year. The slowdown was driven by the currency area’s largest member, Germany.

Northvolt buyer Lyten said yesterday that it had appointed the last chief operating officer of the bankrupt Swedish battery maker as the new CEO of Lyten Sweden, and also recruited several other former executives of the failed company, Reuters reported. Silicon Valley-based startup Lyten, which develops lithium-sulfur batteries, unexpectedly announced last month that it was buying Northvolt's assets, offering a lifeline to future European battery production for electric vehicles.

Swiss annual inflation held at a low level in August, keeping the country’s central bank on guard as it considers cutting its key interest rate to below zero later this month, the Wall Street Journal reported. Consumer prices were 0.2% higher than the same month of last year, matching July’s rate, Switzerland’s statistics office said Thursday. That remains within the Swiss National Bank’s target of positive inflation lower than 2%. The SNB meets later in September, with most investors currently expecting it to hold its key rate at 0%.

The head of Russia's largest bank has said the country's economy has reached a stage of "technical stagnation," EuroNews reported. Speaking at the Eastern Economic Forum in the Russian city of Vladivostok, German Gref, who runs Sberbank, said that Russia would have to slash interest rates to avoid a recession. GDP data from July and August showed "quite clear symptoms that we are approaching zero," after figures from the second quarter of the year revealed signs of economic stagnation, Gref noted.

Ghislaine Maxwell’s brother is scrambling to stave off bankruptcy over debts owed to a collapsed “Ponzi scheme,” The Telegraph reported. Kevin Maxwell has launched a last-ditch legal claim to prevent administrators of Fortress Capital Partners chasing him for almost £600,000. The British businessman applied to the High Court last week to dismiss an ultimatum from the insolvency experts overseeing the collapsed fund. He is threatened with bankruptcy if he fails to repay the money.

The Quebec government is pulling the plug on a $7-billion electric-vehicle battery project near Montreal and trying to recoup some of its investment, BNN Bloomberg reported. Economy Minister Christine Fréchette announced Tuesday that the government is cutting its losses on the planned Northvolt battery factory after spending $510 million on the troubled venture, once touted as the largest private investment in the province’s history. The Quebec government pledged up to $2.9 billion in financing for the project, while Ottawa committed up to $4.4 billion.

The government will pursue "every option" to keep steel-making in South Yorkshire, an industry minister said after Speciality Steel UK went into insolvency last month, BBC.com reported. Sarah Jones said she "very much believes" that the steelworks have a future in South Yorkshire as well as the West Midlands. In a statement to the House of Commons, Jones said that the government "stands with" all those affected and that there would be no immediate changes to jobs.

The euro zone economy kept expanding at a snail's pace in August as weaker services growth offset improved manufacturing output, despite the first rise in overall new orders since May last year, a survey showed on Wednesday, Reuters reported. The HCOB Eurozone Composite Purchasing Managers' Index (PMI), compiled by S&P Global, inched up to 51.0 in August from 50.9 in July, marking a 12-month high but still indicating only modest growth. The 50.0 threshold separates growth from contraction.