The Suez Canal is now free for all transport ships but the financial consequences of the blockage are yet to be calculated, Reuters said. Insurers and reinsurers anticipate a pile of claims related to delayed traffic and deliveries of goods.

Deutsche Bank CEO Christian Sewing will hand over oversight of the investment and corporate bank to board member Fabrizio Campelli, the German bank said on Monday, as part of an overhaul of the management board, Reuters reported. The move is likely to reassure regulators, who worried that Sewing had too much on his plate, potentially leaving the investment bank open to operational hazards.

The year 2020 was critical for the whole mankind in terms of health fears, as well as concerns over personal wealth, Reuters reported. However, the world crisis was not equally bad for everyone. The world’s wealthiest have managed to explore the opportunity caused by the Covid-19 turmoil and added new billions to their bank accounts. The world is stuck in the worst recession since WWII, but even that was explored as an opportunity.

The economic activity of the Еurozone has recovered at a faster than expected pace in March, Reuters reported. Official data showed that production orders spiked at its fastest speed for the last 23 years. The growth rate has offset the influence of on-going lockdowns in most European states affected the bloc’s leading service sector.

The crypto currency company Blockchain.com announced it had raised a further amount of $300 million in its latest round of funding, putting the firm’s market valuation at $5.2bn. The round of financing was led by DST Global, Reuters reported.

The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Fed’s efforts to shore up the financial system during the early days of the pandemic.

Securities settlement for Irish assets worth more than 100 billion euros ($119 billion) has left London for the European Union in the latest adjustment in markets to Brexit.

The large-scale government intervention in airlines triggered by the coronavirus crisis will hold back sector consolidation for up to five years, the head of global industry body IATA predicted on Wednesday.

Britain’s financial regulator has launched criminal action against NatWest over allegations it failed to detect suspicious activity by a customer depositing nearly 400 million pounds ($553 million) over five years, mostly in cash.

The first wave of the COVID-19 pandemic wiped out some 6 million jobs in the European Union, according to a study released on Thursday, with temporary contractors, young and female workers at times hit harder than in the 2008-09 financial crisis.