Klöckner Pentaplast announced yesterday that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed its reorganization plan, PlasticsToday.com reported. The plan, according to the company, was developed and financed with the support of an ad hoc group of its first-lien lenders and noteholders. Upon completion of the restructuring, Klöckner Pentaplast said it will reduce approximately €1.3B ($1.5B) of funded debt.

Russia’s central bank laid out a proposed framework that would legalize and regulate cryptocurrency trading for both individuals and institutions, continuing its softening stance toward cryptocurrencies. However, it continues to caution that investing in crypto carries risks, including potential losses, CoinDesk.com reported. “They are not issued or guaranteed by any jurisdiction and are subject to increased volatility and sanctions risks,” the central bank’s press release said.

A renowned German distillery in Mecklenburg-Vorpommern, recognized internationally for its premium spirits, has initiated insolvency proceedings due to severe economic challenges, The Munich Eye reported. The distillery, known for producing high-quality gin, rum, and liqueurs, has faced mounting financial difficulties despite accumulating over 180 international awards since its establishment in 2014.

Grupo Celsa, a Spanish steel producer, has completed the refinancing of its debt for approximately €2.2 billion, an operation that brings to an end the restructuring process that began in 2023, the Iberian Lawyer reported. This process included the approval of the first restructuring plan in Spain following the insolvency reform, laying the foundations for ensuring the group’s viability and guaranteeing the continuity of its activity.

The Governor of the Bank of England warned people feel Britain’s economy is “stuck” after long periods of low growth, The Telegraph reported. Andrew Bailey said that he understood that people “feel the economy has got stuck” a day after the Bank cut interest rates from 4pc to 3.75pc. Britain’s economy shrank for the second month in a row in October as households were rocked by fears of Budget tax rises.

The U.K.’s long-promised crypto regulatory regime edged closer to reality this week, as the Financial Conduct Authority (FCA) unveiled its consultation that will ultimately define how crypto firms operate in Britain, CoinDesk.com reported. Together with legislation from HM Treasury, the proposals form the backbone of a framework scheduled to take effect in October 2027. For policymakers, the objective is to balance growth and innovation with market integrity and consumer protection.

German car exports to the United States slumped by almost 14% in the first three quarters of 2025, making it the hardest-hit branch of German industry in U.S. President Donald Trump's trade war, according to a study seen by Reuters on Monday. Under an agreement between Washington and Brussels, the U.S. set a 15% baseline tariff on cars from Europe from August 1 - significantly less than Trump's initial rate of 25% on top of a 2.5% existing levy. German engineering companies have also struggled under the tariff regime, with the study showing exports in that sector to the U.S.

Russia’s central bank Friday lowered its key interest rate for a fifth straight meeting, but said it will continue to keep borrowing costs at a level that restrains activity, the Wall Street Journal reported. The Bank of Russia cut its key rate to 16% from 16.5% on Friday, having begun to lower borrowing costs from a recent peak of 21% in June. Further rate cuts are possible, but the central bank said it won’t move quickly to reach a neutral level, where borrowing costs are neither stimulating nor holding back the economy.