Orsted, the Danish renewable energy developer, said on Thursday that it would cut about 2,000 jobs, or around 25 percent of its work force, over the next two years, the New York Times reported. The move was the latest sign of the diminished prospects for offshore wind, a low-emissions technology that Orsted helped pioneer. “We’ll be saying goodbye to many skilled and valued colleagues,” Rasmus Errboe, Orsted’s chief executive, said in a statement.

A bankruptcy judge in New York said Oi S.A. can’t withdraw from the chapter 15 proceeding that recognized its Brazilian bankruptcy in the U.S., upending the Brazilian telecommunications company’s plan to pursue a chapter 11 case instead, WSJ Pro Bankruptcy reported. Judge Lisa Beckerman of the U.S. Bankruptcy Court in New York on Wednesday denied the company’s requests to terminate her March 2023 order recognizing its Brazilian bankruptcy in the U.S. and to dismiss the chapter 15 petition that led to that recognition order.

Complaints about debt advisers have soared more than 170 per cent, according to the Superintendent of Bankruptcy, which cites more awareness efforts alongside rising insolvencies for the increase, the Globe and Mail reported. Data from the Office of the Superintendent of Bankruptcy provided showed that as of March 31, the number of complaints it received involving debt advisers has grown roughly 174 per cent, from 42 complaints in the fiscal year 2023-2024 to 115 in 2024-2025.

The United States has officially lowered its tariff on Japanese automobiles to 15% from 27.5%, finally addressing some unfinished business that had added extra uncertainty to an already unpredictable and protracted trade war, the Japan Times reported. Japan and the United States first agreed to the reduced rate on July 22 as part of a broader deal in which "reciprocal" tariffs, which cover most other exports, were taken from 10% to 15% — but less than the 25% threatened. Reciprocal duties were formally raised to 15% on Aug. 7.

Turkish inflation continued to ease as the third quarter progressed, clearing the way for the country’s central bank to keep trimming interest rates despite still-hot growth in the economy, the Wall Street Journal reported. Consumer prices were 33% higher on year in August, a rate of annual inflation that eased from 33.5% in July, figures from statistics office Turkstat showed Wednesday. Turkey’s central bank at its last meeting renewed cutting interest rates as inflation eases, having earlier in the year been forced to lift rates in response to market concerns over Turkish politics.

Pulp and paper manufacturer Celulosa Argentina SA filed for bankruptcy protection Monday, blaming the government of President Javier Milei for creating a bad business environment for local industry, the Buenos Aires Times reported. After missing bond payments, Celulosa, based in agricultural export hub Rosario, is now seeking protection from creditors in Argentina’s equivalent of a Chapter 11 process, according to an investor filing. Its locally traded shares slumped by as much as 17 percent on Monday and are down nearly 80 percent so far this year.

China Evergrande, a real estate developer that once represented the pinnacle of China’s economic prowess, was formally removed from the Hong Kong Stock Exchange on Monday, the New York Times reported. Evergrande, which made its financial debut in Hong Kong 16 years ago, had once been the fastest growing property developer in a country brimming with promise of profits for investors. It will be remembered as one of the world’s most indebted companies whose collapse brought China’s financial system to the brink.

The global economy appears to have taken a sharp rise in U.S. tariffs and increased uncertainty about the future of the international trading system in its stride, but faces stronger headwinds as tax rates continue to climb, the Wall Street Journal reported. As more countries release figures for economic growth that cover the second quarter of this year, a clear pattern has emerged. Those that grew rapidly in the first quarter as U.S. businesses raced to build up inventories ahead of higher tariffs slowed in the second quarter as those duties were imposed.

Crypto users might be tempted to cash in on near-peak prices in the Land of Smiles as early as this month, as regulators plot out a new payments sandbox, DLNews reported. Thailand’s government is reportedly preparing to unveil the TouristDigiPay initiative that would allow foreign visitors to convert digital assets into Thai baht for use at local merchants. Crypto users might be tempted to cash in on near-peak prices in the Land of Smiles as early as this month, as regulators plot out a new payments sandbox.

In a key development under Jet Airways’ ongoing insolvency proceedings, global alternative investment major Brookfield Asset Management has acquired an additional office floor in commercial tower Godrej BKC in Mumbai's business district Bandra-Kurla Complex for Rs 370.25 crore, the Economic Times of India reported. The sale was conducted under the Insolvency and Bankruptcy Code (IBC) and overseen by the National Company Law Tribunal (NCLT).