The first quarter of 2026 marks a major shift in the Romanian economy: financial distress is no longer predominantly affecting small companies, but is rapidly moving toward firms with significant economic weight, the Romanian Journal reported. According to an analysis conducted by CITR, the market leader in insolvency and restructuring in Romania, the number of large companies entering insolvency increased significantly in the first three months of the year, signaling a broader spread of economic pressure across supply chains, creditors, and jobs.
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Banks are going big on a product that’s drawing ever-closer regulatory scrutiny, Bloomberg News reported. Lenders have stepped up their reliance on so-called significant risk transfer (SRT) trades, complex deals in which banks offload some of the default risk from their loan books to hedge funds and other investors. SRTs are booming because they helps banks free up capital and boost measures of profitability.
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Germany's closely watched ifo Business Climate Index increased to 84.9 points in May from 84.5 in April, according to data released on Friday, EuroNews.com reported. The ifo Business Climate Index is a highly regarded early indicator of economic developments in Germany, published on a monthly basis by the Munich-based ifo Institute for Economic Research. Economists had expected sentiment to weaken slightly as higher energy prices and geopolitical uncertainty continue to weigh on Europe's industrial sector.
Europe's push to curb its dependence on U.S. payments giants Visa and Mastercard has driven a wedge between the European Central Bank and financial firms keen to shield revenues, hobbling efforts to build a home-grown system, several people involved said.
A surge in cashless payments since the COVID-19 pandemic has increased the euro zone's reliance on U.S. firms, which handle nearly two thirds of card payments in the bloc. Companies such as PayPal and Apple have also expanded.
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The U.K. government’s borrowings in April were higher than a year earlier, a sign that progress in narrowing its budget deficit might slow as the conflict in the Middle East pushes inflation higher and growth lower, the Wall Street Journal reported. In the fiscal year that ended in early April, the government reduced the gap between spending and revenues to its narrowest since the outbreak of the Covid-19 pandemic, and plans to further cut its budget deficit over coming years.
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Business activity in the U.S. grew at a steady pace in May while slowing in Europe and Asia as energy costs have risen, an indication that the global economy has been weakened by the fallout from the conflict in the Middle East, the Wall Street Journal reported. The war has led to a sharp decline in shipments through the Strait of Hormuz, through which a fifth of the world’s oil and natural gas supplies usually transit. As a result of reduced supplies, energy prices have jumped around the world.
As alarmist as it was, a press release from the United Nations General Assembly finance committee – saying the UN would face imminent financial collapse by August if membership dues are not paid — barely triggered a perceptible global reaction, Geneva Solutions News reported. It was as if the world had gotten used to the UN’s existential crisis.
Almost 350 construction businesses went under in March, marking a 14 per cent increase on the previous month, according to the latest official figures, ConstructionNews.co.uk reported. Data released on May 19 by the Insolvency Service shows the March total of 347 was the worst for monthly construction firm insolvencies since last October, when 367 companies collapsed. The figures include various forms of insolvency, such as compulsory liquidations, creditors’ voluntary liquidation and administrations.
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