Recession is strongly advancing in the Eurozone as ECB figures showed a slowing pace in corporate lending and financing, Reuters reported. The big story behind this phenomenon goes back to 2020. In the peak times of pandemic lots of European companies rushed to secure funds to offset the expected lowdown. The slowdown came and still goes on but the majority of firms have already reached their credit limits and can not afford more loans.

The popular carmaker Aston Martin announced expectations for a two-fold surge in sales this year that brings it back in comfortable profitability, Reuters reported. Aston Martin suffered a severe setback in 2020 due to a slump in demand for luxury cars amid the Covid-pandemic.

The German reinsurance group Munich Re announced prospects for a rebound in business later in 2021 as pandemic last year supported a surge in claims leading to a sharp fall of profits, Reuters reported.

By the end of March the global body of the airline industry (IATA) intends to introduce a travel pass related to Covid-19 vaccinated travelers, Reuters reported.

Spotify outlined its vision for "a new golden age of audio," presenting a new subscription tier called HiFi for high-quality audio, which will be available later this year, and a massive 80-countries expansion in the coming days. Podcast exclusives and a suite of new tools for artists and podcasters were also announced. 

The US enterpreneur and billionaire Elon Musk had to hand back the crown of world's wealthiest man back to Amazon's founder Jeff Bezos.

The chief of the British airport Heathrow John Holland-Kaye asked for the involvement of UK's minister of finance Rishi Sunak in granting a relief of property tax payments, BBC reported. Similar deductions of taxes have already been enforced for sectors that suffered worst from the Covid-19 lockdown.

The Spanish lender BBVA announced plans to reduce substantially its workforce by reducing some 3,000 jobs related to the bank's domestic operations, Reuters reported. That equals to around 10% of local staff. The intention is to adapt the bank's activities to the constantly growing online banking.

The German producer of sports products and sportswear Puma announced expected slump in sales and revenues due to pandemic-related lockdowns, but however it elaborated a very strong rebound sometimes thid sees a strong improvement after that, Reuters reported.

Federal Aviation Administration (FAA) chief Steve Dickson said Tuesday the agency is doing everything possible to finalise a new emergency airworthiness directive that will require stepped-up inspections of all Boeing 777-200 airplanes with Pratt & Whitney PW400 engines. This step is being taken after a massive engine failure on a United Airlines flight.