Two research reports showed on Tuesday that еconomic fallout from the coronavirus outbreak will cause a sharp rise in loan losses at European banks, with more than €400bn ($458bn) of losses estimated in the next three years.

Apple won a landmark court case on Wednesday against the European Commission over a dispute concerning €13bn ($14.9bn) in Irish taxes, news wires reported. The Luxembourg-based General Court decided that the European Commission did not prove that the Irish government had given the US tech giant a tax advantage.

Britain is preparing to spend £705m ($890m) on border infrastructure to help keep trade flowing after its transition deal with the European Union expires at the end of the year, Cabinet Secretary Michael Gove announced on Sunday.

A group of 16 Eurozone banks said on Thursday a “truly European” unified payments system is expected to be up and running in 2022, Reuters reported. European policymakers have long sought a “home grown” rival to take on Mastercard and Visa.

A Malta-based bank, Satabank, has had its licence withdrawn by the European Central Bank, Finance Minister Edward Scicluna and the Malta Financial Services Authority said on Wednesday cited by Reuters. The decision was taken on the recommendation of the authority.

With each week, more data emerges to show how the Covid-19 pandemic is permanently reshaping the restaurant industry. The world is currently on track for a radical overhaul of its food-service landscape: Hundreds have filed for bankruptcy over the last three months, according to consulting firm Aaron Allen & Associates, and the situation is poised to keep worsening. 

The Saudi central bank announced on Monday it provided 50bn riyals ($13.3bn) to support liquidity in the banking sector, after consumer spending collapsed in April because of the COVID-19 pandemic.

The Norwegian government proposes spending 3.6bn Norwegian crowns ($369m) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on Friday.

European Central Bank President Christine Lagarde on Wednesday warned that the eurozone economy will likely shrink by between 8% and 12% this year, a deeper downturn than previously anticipated, as governments battle the coronavirus pandemic.

Polish prosecutors have started an investigation into suspected money laundering at a small state-controlled lender BOS Bank, Dziennik Gazeta Prawna daily said on Tuesday, quoting an unnamed source. A spokesman for Poland’s financial sector regulator KNF asked on the matter by Reuters declined to comment.