Britain's financial regulator said on Friday it had launched an enforcement investigation into mortgage ​lender Market Financial Solutions, which collapsed in ‌February leaving creditors including major banks and private credit funds facing a shortfall in excess of 1.3 billion pounds ($1.74 billion), Reuters reported. The Financial ​Conduct Authority said in a statement that ​London-based MFS was only registered with it ⁠and supervised for compliance with money laundering, terrorist financing ​and transfer of funds regulations, and not for wider ​financial regulation.

Citi group provided a GBP 100M line of credit to Interbridge Mortgages, a fast-growing UK lender backed by Paresh Raja, just as his Market Financial Solutions was hurtling toward collapse, according to a Bloomberg report. Raja controls a 40% stake in the Interbridge holding company and around GBP 30M of the funding line has been drawn. There is no indication that Interbridge was affected by the collapse of MFS, which has been accused of fraud that could leave major lenders facing losses of around GBP 1.3B.

Spain's Prime Minister Pedro Sánchez said his government would mobilise €5 billion to shield the economy from the impact of the war in Iran, EuroNews.com reported. "The war will cost Spaniards €5 billion," he said, adding that additional resources could be deployed if necessary. The package is designed to support around 20 million households and 3 million companies. While it will not fully offset the effects of the conflict, the government hopes it will soften the economic blow. Sánchez also said that the measures will save up to €200 million for energy-intensive industries.

Russia’s central bank Friday cut its key interest rate for a seventh straight meeting, despite a surge in oil prices following the U.S.-Israel attack on Iran that promises to boost an economy that had been faltering, the Wall Street Journal reported. The Bank of Russia lowered borrowing costs to 15% from 15.5%, down from a 2025 peak of 21%.

The municipally-owned Belgian waste management and energy group Bionerga has confirmed the closure of its plastic recycling site Fromto in Houthalen, euwid-recycling.com reported. The group cited sustained losses and mounting pressure from low-cost primary plastics and imports. The operation had been "heavily loss-making for several years", Bionerga said. "We regret having to shut down operations, but unfortunately we see no alternative.

The European Central Bank left its key interest rates unchanged Thursday and warned that the Iran war would boost inflation in the short term through higher energy prices - but that the long-term impact on consumer prices and the economy was uncertain, the Associated Press reported. The bank's rate-setting committee left its benchmark deposit rate unchanged at 2%, where it has been since June 2025.

The Bank of England held its main interest rate at 3.75 per cent on Thursday as the sharp oil and gas price hikes following the start of the Iran war have stoked renewed concerns about inflation, BNNBloomberg reported. The decision was widely anticipated after the United States and Israel started bombing Iran less than three weeks ago. All nine members of the Monetary Policy Committee voted to keep borrowing costs on hold, the first unanimous decision for more than four years. Until the war erupted on Feb.

Swedish pro-audio microphone manufacturer Milab is back in business, having been brought back to life after filing for bankruptcy last August, MixOnline.com reported. The company was acquired in 2025, and now leading the brand are audio entrepreneurs David Stenmark (Epidemic Sound/IMRSV) and Andreas Liffgarden (chairman of Tracklib). “Reviving Milab is both a responsibility and a privilege,” said Stenmarck. “This is a brand deeply rooted in Swedish audio excellence, and also an important, largely untold part of the Swedish music wonder.

Officials overseeing the wind-down of Market Financial Solutions Ltd., the UK mortgage lender that borrowed more than £2 billion ($2.7 billion) from Wall Street backers, have obtained a worldwide asset-freezing order against owner Paresh Raja, Bloomberg reported. Courts in London and Dubai granted the order, according to a spokesperson for AlixPartners, the insolvency firm appointed by creditors to oversee the insolvency of MFS. MFS borrowed from Wall Street banks and investment firms including Barclays Plc and Apollo Global Management Inc.’s Atlas SP Partners unit.