Switzerland is close to securing a 15% tariff on its exports to the US, in what would be a relief for the country after it was hit with a punishing 39% levy in August, Bloomberg News reported. A deal may be concluded within the next two weeks, said the people, who declined to be identified discussing ongoing negotiations. They also warned that nothing is finalized and the talks could still come undone, as happened during discussions between US and Swiss trade negotiators in late July.

Germany’s economic sentiment remained broadly unchanged in November, as financial experts continued to express cautious optimism about the country's medium-term outlook. However, persistent doubts over economic policy effectiveness and sector-specific weakness tempered enthusiasm, EuroNews.com reported. The ZEW Indicator of Economic Sentiment dipped slightly to 38.5 points in November from 39.3 in October, suggesting that optimism among experts is plateauing. The assessment of current conditions rose marginally by 1.3 points to minus 78.7, reflecting little improvement in the real economy.

Two Ukrainian oligarchs have been told to pay $3bn (£2.3bn) in damages to the country’s largest bank following an eight-year fraud battle at London’s High Court, the Telegraph reported. On Monday, Ihor Kolomoisky and Gennadiy Bogolyubov were ordered to repay the funds to state-owned lender PrivatBank after a judge ruled they took part in a “fraud of Byzantine complexity”. The case saw the two former billionaires extract $1.8bn from PrivatBank through a series of fraudulent loans between 2013 and 2014 while they controlled the lender as the bank’s two largest shareholders.

Mainland businessman Li Yonghong’s company, Rossoneri Sport Investment Co., Ltd., which previously owned Italian football club AC Milan, is facing a liquidation petition filed by creditor General Fantasy Limited, with a hearing set for next January, TheStandard.com.hk reported. Li acquired AC Milan through his Chinese-led consortium in 2017. However, the company later failed to repay debts after signing a bond subscription agreement with five investment fund firms.

European business sees a far greater impact in 2026 from U.S. tariffs and other trade tensions than in 2025, when front-loading mitigated the consequences, a survey by BusinessEurope showed on Monday, Reuters reported. The survey found that trade tensions were likely to pull 2025 gross domestic product down by 0.03 percentage points for the euro zone, the EU and a broader group of European countries. For 2026, the negative impact was likely to be 0.5 to 0.6 percentage points, with the euro zone faring worst.

The Bank of England has dropped demands for strict rules governing cryptocurrencies following pressure from Donald Trump’s administration to soften its stance, the Telegraph reported. Threadneedle Street unveiled proposals on Monday aimed at helping the UK to grab a slice of the $300bn (£230bn) market. While officials confirmed plans to cap the amount of so-called stablecoins that people can own at £20,000 for individuals and £10m for businesses, it said retailers and cryptocurrency exchanges would be exempt from the “temporary” limits.

Bilateral trade between Spain and Russia has shrunk in value, signaling a clear decision to decouple from the sanction-ridden nation, EuroNews.com reported. The Kremlin's decision to launch a full-scale invasion of Ukraine almost four years ago has had an undeniable effect on Spanish companies that aspired to open up markets in Russia, with the result that the volume of their exports has plummeted sharply since the beginning of the conflict.

For three years, a crack team of detectives gathered each weekday morning around a whiteboard at the German Federal Police headquarters in Potsdam, near Berlin. Now their investigation into who was behind the greatest act of sabotage in modern history—the bombing of the Nord Stream pipelines—is threatening to splinter support for Ukraine, the country they hold responsible, the Wall Street Journal reported. Poland already has refused to extradite one of the suspects to stand trial in Germany.