China's central bank said Friday that financial risks from China Evergrande Group's debt problems are "controllable" and unlikely to spill over, amid growing investor concerns that the crisis could ripple through other developers.

Evergrande is the world's most indebted developer, with over $300 billion in liabilities. The company has missed a third round of interest payments on its offshore bonds this week, spooking investors globally and sparking concern that other companies in the sector may also default on payments.

Italy's new national airline, ITA, flew its inaugural flights Friday and unveiled its brand and logo, recycling the red, white and green of its Alitalia origins as it tries to chart a new future for the troubled sector.

ITA, or Italy Air Transport, officially launched after the bankrupt Alitalia landed its final flights Thursday night, ending a 74-year business history that has been marred in recent years by a series of financial crises.

Nippon Steel Corp. is suing Toyota Motor Corp. over a patent for a technology used in electric motors in a rare case of legal wrangling between Japan's top steelmaker and top automaker over intellectual property.

Tokyo-based Nippon Steel filed the lawsuit Thursday in Tokyo District Court, demanding compensation for damages totaling 20 billion yen ($177 million). Also named in the lawsuit is Baoshan Iron & Steel Co., or Baosteel, a Chinese steelmaker that produces and supplies the steel that allegedly violates the patent.

Shares were mostly higher in Europe and Asia on Friday after technology companies powered the biggest rally on Wall Street since March.

Investors have been encouraged by strong earnings reports, as every S&P 500 company that has reported earnings this week has beaten forecasts.

Hong Kong and mainland authorities have seized about $540,000 worth of smuggled Australian lobsters believed to be bound for the mainland, after China restricted imports of the crustacean amid escalating tensions with Australia.

Hong Kong authorities said at a news conference Friday that its customs and Chinese law enforcement agencies confiscated about 5,300 kilograms (11,650 pounds) of lobsters and arrested 13 people.

The Turkish lira hit record lows against the dollar Thursday after President Recep Tayyip Erdogan fired senior central bank officials, heightening concerns over the Turkish leader's interference in the bank's activities.

Erdogan dismissed deputy central bank governors Semih Tumen and Ugur Namik Kucuk as well as Abdullah Yavas, a member of the bank's monetary policy committee, according to the Official Gazette. He appointed Taha Cakmak as a deputy governor and Yusuf Tuna as a member of the monetary policy committee.

Drilling by ExxonMobil set for late next month to confirm how much natural gas is contained in a sizable deposit off Cyprus' southwestern coast will map out how the fuel will reach potential markets in Europe and Asia, the island nation's energy minister said on Wednesday.

Minister Natasa Pilides says the "significant" drilling at the 'Glaucus-1' well inside block 10 of Cyprus' exclusive zone scheduled to start in 6-8 weeks will determine if the deposit is at the higher or lower end of its estimated size of 5-8 trillion cubic feet (142-227 billion cubic meters) of natural gas.

U.S. safety investigators want to know why Tesla didn't file recall documents when it updated Autopilot software to better identify parked emergency vehicles, escalating a simmering clash between the automaker and regulators.

In a letter to Tesla, the National Highway Traffic Safety Administration told the electric car maker Tuesday that it must recall vehicles if an over-the-internet update mitigates a safety defect.

A logjam at the U.K.'s busiest commercial port ratcheted up concerns Wednesday that the country could see an array of shortages in the crucial Christmas trading period, including of toys and food.

Worries have mounted over recent weeks that the U.K.'s economic recovery is being hobbled by widespread shortages, which have been most clearly seen in long lines at gas stations and some empty shelves at supermarkets.

The European Union's executive branch advised the 27 EU member countries Wednesday to adopt tax cuts, state aid and other measures to help households and businesses weather the impact of high energy prices that have fueled a renewed debate on the use of nuclear power.

After months of economic instability linked to the coronavirus pandemic, the European Commission wants a rapid and joint response to mitigate the effects of the price hikes, especially for people living in poverty or on low incomes.