Eurozone Retail Sales Soften as Shoppers Feel Energy Pinch

Eurozone retail sales slipped in March as the war in Iran drove fuel prices higher, while falling consumer sentiment points to a broader weakening of demand in the sector over coming months, the Wall Street Journal reported. Volumes were down 0.1% on month compared with a 0.3% decline in February, the European Union’s statistics agency said Thursday. The unexpected decline was driven by the largest fall in automotive-fuel sales since August 2023, as the outbreak of war in Iran sent petrol and diesel prices sky-rocketing across the eurozone.
Europe
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German Industry Slumped in March on Outbreak of Iran War

German industrial production retreated in March, as the start of the conflict in the Middle East sent energy prices climbing, a setback for any recovery for manufacturing in Europe’s largest economy this year, the Wall Street Journal reported. Germany’s industrial sector had been expected to rebound in 2026, after a downturn that stretches back into the last decade. Pandemic-era supply issues were exacerbated by the pivot away from cheap Russian gas, increased competition from China for German goods, and an expensive green-energy transition.
Germany
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Morrow Batteries Pushed into Bankruptcy as Financing Efforts Fail

Norwegian industrial battery technology company Morrow Batteries ASA has decided to file for bankruptcy proceedings after failing to secure fresh funding and a new industrial investor in time, RenewablesNow.com reported. The company’s board, along with those of subsidiaries Morrow Technologies AS and Morrow Industrialization Center AS, have resolved to file for bankruptcy as the group’s liquidity situation worsened despite ongoing financing talks. Several investor discussions and financing efforts had reached an advanced stage but could not be completed within the limited timeframe.
Norway
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Irish Aircraft Lessors Caught Up in Fallout from the Collapse of Spirit Airlines in U.S.

Irish aircraft lessors could be caught in the fallout from the failure of Spirit Airlines, the troubled US carrier forced out of business last weekend by soaring fuel prices, the Irish Times reported. Spirit had no option but to halt operations after it learned on Thursday that the federal government had decided not to proceed with a proposed $500 million bailout of the airline, lawyers told a U.S. bankruptcy court on Monday.
Ireland
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Fuel and Wage Costs Push 76-Year German Haulier to the Brink

Operating costs are tightening the squeeze on European logistics once again. In Germany, Euba Logistic — a carrier with a history spanning more than 76 years — has been placed under temporary court supervision, Trans.info reported. According to the administrator, the deterioration in Euba Logistic’s finances is primarily due to rising fuel and labour costs, which have weighed heavily on the company’s budget in recent years. Employees are expected to be covered by a protective mechanism in the form of insolvency benefit for the period from April to June 2026.
Germany
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HSBC Takes $400 Million Hit From Private-Credit Alleged Fraud

HSBC set aside $400 million relating to an alleged fraud in private markets in the U.K., marring its quarterly results, the Wall Street Journal reported. HSBC gave few details beyond saying that the provision reflected a “fraud-related, secondary, securitization exposure with a financial sponsor in the U.K.” People familiar with the charge said that it was connected to Market Financial Solutions, a British mortgage lender that collapsed this year. MFS gave short-term loans for quick property purchases, and attracted funding from private-credit funds and banks.
United Kingdom
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