British authorities are exploring the possibility of creating a new digital currency dubbed “Britcoin,” The Hill reported. The Bank of England and the Treasury on Monday said they were weighing the potential benefits of a central bank digital currency, The Associated Press reports. If the new currency is created, it would be a form meant to be used by households and businesses and would exist alongside cash and bank deposits instead of replacing them, the Bank of England said.

The number of people heading out to shops across Britain jumped 87.8% in the week to April 17 versus the previous week as non-essential stores in England reopened after three months of COVID-19 lockdown, market researcher Springboard said on Monday, Reuters reported. The number of people heading to shops across Britain jumped 87.8% last week as non-essential stores reopened after three months of COVID-19 lockdown, researcher Springboard said on Monday.

More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic, Reuters reported. Britain’s economy shrank by almost 10% last year and millions of people have been unable to work due to lockdown restrictions, but state loan guarantees and wage subsidies have kept most companies and households financially afloat for now. Government figures on Thursday showed 992 companies in England and Wales were declared insolvent in March.

The head of the U.K. watchdog scrutinizing politicians and top civil servants taking up private sector jobs called for urgent reform, warning there are no “boundaries at all” to prevent conflicts of interest, Bloomberg News reported. Eric Pickles, chairman of the Advisory Committee on Business Appointments, was responding in a parliamentary hearing Tuesday to the revelation that Bill Crothers -- then the government’s chief commercial officer -- was allowed to work for the now insolvent Greensill Capital while still in post in 2015.

Leaders from Britain’s aviation industry joined forces Wednesday to urge the British government to ensure that popular European destinations face the least onerous coronavirus travel restrictions when holidays are allowed again, the Associated Press reported. Under the government’s new traffic light system for England, travel to countries in the lowest green category could be opened up to quarantine-free travel from May 17. Arrivals would be required to take a pre-departure test as well as the gold standard PCR test on or before day two of their return to England.

BNP Paribas SA is seeking to sell its stake in a loan to GFG Alliance’s Dunkirk unit, a sale that could loosen Sanjeev Gupta’s grip over a key asset as other lenders consider seizing control of the aluminum smelter, Bloomberg News reported. The bank is offloading its $20 million portion of the loan raised by Gupta in 2018. Although a small amount, the sale could pave the way to actions by other lenders, led by Trafigura Group, to threaten Gupta’s control over the smelter.

Britain’s government has opened an independent investigation into failed finance company Greensill Capital after lobbying by former Prime Minister David Cameron raised questions over its access to ministers, Reuters reported. Australian banker Lex Greensill was brought in as an adviser to the government while Cameron was British prime minister from 2010 to 2016. After leaving office, Cameron in turn became an adviser to Greensill’s now-insolvent company.

The U.K. government told Britons to hold off on planning foreign holidays this summer, deflating the hopes of an airline industry desperate to get flying again before another high season slips by, Bloomberg News reported. While confirming that restaurants, pubs and shops in England will reopen next week, Prime Minister Boris Johnson said it’s not yet clear that non-essential international travel can resume safely as planned on May 17.

British Prime Minister Boris Johnson said on Thursday he was very hopeful the government could find a solution for Liberty Steel which is scrambling to secure capital after the collapse of its biggest lender Greensill Capital, Reuters reported. The steelmaker, which employs 3,000 people in Britain and is part of the GFG Alliance conglomerate, has been rocked by the failure of Greensill, which had extended many billions of dollars in loans.