European travel is reviving and easyJet is increasing flights between now and December, the British airline said on Tuesday, after running up an annual loss of over 1 billion pounds during the pandemic, Reuters reported. For the autumn period, easyJet said that it would fly 70% of its pre-pandemic capacity, a jump from the 60% it had been aiming for only a month earlier, as demand for holidays surged, particularly in the UK where travel rules have been loosened.

British consumer morale has fallen to its lowest since February, when the country was under heavy COVID-19 restrictions, due to worries about the economic outlook and about rising prices, a Bank of America report showed on Friday, Reuters reported. The survey chimed with other gauges of consumer confidence in Britain that have suggested a growing cost-of-living squeeze has started to drag on the economy's recovery from the COVID-19 pandemic.

Surveying the rows of purple cabbage that stretch across one of her fields, Katharine Nundy says the outlook for her farm is gloomy. Like other farmers across the U.K., she used to rely on an influx of seasonal workers from the European Union to bring in the harvest, and is struggling without it this year, the Wall Street Journal reported. The U.K. left the 27-member bloc last year and brought an end this year to the free movement of EU citizens into the country in the midst of a pandemic that has created labor shortages in many major economies.

Credit Suisse Group AG said that it will front “as much as possible” of the legal and advisory costs to recover cash for investors in supply-chain finance funds it ran with the now-defunct Greensill Capital, Bloomberg News reported. The majority of expenses incurred in recovering the money has not been passed onto investors, Credit Suisse said in a statement published on Wednesday. It estimates it will spend around $145 million for the process in 2021.

Britain's government bond market is showing signs of strain from the country's energy crisis, with headlines about gas prices sparking heavy selling this week - a new development that points to growing unease over inflation expectations, Reuters reported. There was disarray in Britain in recent days as a deficit of truckers left fuel pumps dry across the land and a spike in European wholesale natural gas prices tipped energy companies into bankruptcy.

Britain's competition regulator has scrapped its action against Ryanair and British Airways over their failure to offer refunds to passengers prevented from flying by COVID-19 restrictions, saying the legal position was unclear, Reuters reported. During pandemic lockdowns, instead of offering refunds to those legally unable to fly, IAG-owned British Airways offered vouchers or rebooking and Ryanair providing the option to rebook.

The United Kingdom's 25-year-old model of importing cheap labour has been up-ended by Brexit and COVID-19, sowing the seeds for a 1970s-style winter of discontent complete with worker shortages, spiralling wage demands and price rises, Reuters reported. Leaving the European Union, followed by the chaos of the biggest public health crisis in a century, has plunged the world's fifth-largest economy into a sudden attempt to kick its addiction to cheap imported labour.

Ireland does not expect Britain to trigger a clause in Northern Ireland's fraught post-Brexit trading deal to unilaterally jettison some of its terms, Foreign Minister Simon Coveney said, Reuters reported. Prime Minister Boris Johnson said on Friday that it was possible the British government would trigger "Article 16" if the European Union did not make appropriate concessions to ease the burden of trading restrictions on Northern Ireland.

British Treasury chief Rishi Sunak promised Monday to deliver an economy based on “good work, better skills and higher wages,” as the governing Conservative Party tried to shrug off the U.K.’s economic turmoil as the growing pains of a thriving, self-reliant post-Brexit economy, the Associated Press reported. Sunak touted the U.K.’s low unemployment rate of under 5% as a sign it is putting pandemic disruptions behind it. He said now that Britain has left the European Union, it will embrace “the agility, flexibility and freedom provided by Brexit” to create a dynamic, high-tech economy.

Clayton, Dubilier & Rice (CD&R) has won the auction for Morrisons with a 7 billion pound ($9.5 billion) bid, paving the way for the U.S. private equity firm to take control of Britain's fourth-biggest supermarket group, Reuters reported. The board of Morrisons recommended CD&R's 287 pence per share bid on Saturday, hours after its bid beat a consortium led by Softbank owned Fortress Investment Group, which had made an offer worth just a penny less per share at 286 pence.