A union representing pilots at Lufthansa on Tuesday called off a planned two-day strike after a last-minute agreement with Germany’s biggest airline in a pay dispute, the Associated Press reported. The Vereinigung Cockpit union had announced plans for a walkout on Wednesday and Thursday, calling on the company to make a “serious” offer in talks over pay increases. It would have been the second strike in a week after pilots staged a walkout Friday that led to hundreds of flights being canceled.

Pilots at Lufthansa went on strike on Friday, forcing the German airline to cancel hundreds of flights, stranding holidaymakers, Reuters reported. The airline said that it had cancelled about 800 flights at its main bases in Frankfurt and Munich on Friday, affecting 130,000 passengers, and said it was working flat out to minimise the impact of the strike. Labour union Vereinigung Cockpit (VC) had called on more than 5,000 Lufthansa pilots to stage a 24-hour walkout, saying the latest round of wage talks had failed.

German inflation accelerated to the most since the euro was introduced on soaring energy prices, bolstering calls for a jumbo interest-rate increase when the European Central Bank meets next week, Bloomberg News reported. Consumer prices in Europe’s biggest economy, calculated under European Union harmonized standards, jumped 8.8% from a year ago in August, matching the median estimate in a Bloomberg survey of analysts.

German energy giant Uniper SE is seeking to extend a government credit line to 13 billion euros ($13 billion) in the latest sign of how Europe’s energy crisis is getting worse, Bloomberg News reported. The utility has requested an additional 4 billion euros from Germany’s state-owned lender KfW after fully using its existing 9 billion-euro credit line, Uniper said in a statement on Monday. The additional funding request is about double the Dusseldorf-based company’s current market value.

Germany will keep exporting electricity to neighboring France despite calling on people to help fend off winter shortages by saving energy at home, officials said on Wednesday, the Associated Press reported. Problems at French nuclear plants have driven up electricity prices there in recent months, prompting power companies in neighboring countries to sell excess energy to France. “Only half of France’s nuclear power plants are operating,” said Patrick Graichen, Germany’s deputy economy and energy minister.

Pilots at Lufthansa have rejected a wage offer by Germany's flagship carrier and could go on strike anytime, union VC said on Thursday, as a dispute over pay continues, Reuters reported. They had voted in favour of industrial action last month, threatening further disruption during the busy summer travel season. VC said that Lufthansa's most recent offer had been a step in the right direction but remained short of the union's demands, which include a 5.5% pay rise this year for its pilots and automatic inflation compensation thereafter.

Germany wants to create a new financial crime authority that would bundle several fragmented competencies, including sanctions enforcement, said a finance ministry paper on Tuesday, Reuters reported. There are currently more than 300 supervisory bodies across Germany, a figure the finance ministry would like to reduce. With the new authority, the finance ministry hopes to make it easier to tackle complex international money laundering cases, which have long been a weak spot for the country.

Prime Minister Justin Trudeau said Canada would be willing to consider easing the regulatory burden on new gas export facilities to Europe, while indicating the business case for investments may be a difficult one, Bloomberg News reported. Speaking to reporters in Montreal at a joint press conference with German Chancellor Olaf Scholz, Trudeau said the challenge is that any new liquefied natural gas terminal on Canada’s eastern shore would be far from country’s western gas fields.

Uniper, Germany’s largest importer of natural gas, reported on Wednesday a loss of more than 12 billion euros (or $12.2 billion) for the first half of the year as the company coped with dwindling supplies of natural gas provided by Russia, the New York Times reported. Uniper said that the losses were a direct result of having to pay inflated prices for gas on the open market in order to make up for the Russian shortfall.

Germany’s RWE AG has turned to the debt market for funding, as Europe faces its worst energy crunch in decades, Bloomberg News reported. The company saw over 2 billion euros ($2 billion) of investor demand for at least 500 million euros of three-year bonds on Wednesday, according to a person familiar with the matter, who asked not to be identified as they aren’t authorized to speak publicly. It’s RWE’s first venture into Europe’s debt market since May and adds to the region’s busiest day for new deals in two months.