German inflation rose slightly more than forecast to 2.8% in May, although economists said an increase had been expected and should not alarm European Central Bank policymakers ahead of their interest rate decision next week, Reuters reported. Economists are paying close attention to the data from Germany - Europe's biggest economy - ahead of the release of inflation figures from the wider euro zone on Friday. The ECB looks set to lower interest rates next week after its biggest ever streak of hikes brought down inflation to just above its 2% target but also choked off credit.

Italy's Benetton family is readying plans to address mounting losses at its eponymous clothing retailer, including parting ways with CEO Massimo Renon after four years, two people close to the group said on Monday, Reuters reported. The board of the clothing group is expected to meet on Tuesday to discuss a net loss of around 230 million euros ($250 million) for 2023 which includes impairments, a source with knowledge of the matter told Reuters. That compares with a net loss of 81 million euros in 2022, when revenues totalled 1 billion euros.

By many measures, London is still a crucial financial hub, where prices are fixed each day for precious metals, trillions of dollars of foreign currency are traded and global insurance contracts are written. But the global competition for investors — among cities like New York, Hong Kong, Dubai and Singapore — is intense.

Superdry has urged its shareholders to approve its new restructure plan during its General Meeting, which will take place on 14 June, GlobalData.com reported. The company explained that its restructuring plan combined with an equity raise and delisting constitute a key package of measures that it believes are needed to avoid it entering into insolvency.

Since its chaotic handling of the alleged cheating scandal in 2022, the reputation of An Coimisiún Le Rincí­ Gaelacha (CLRG) has hinged on it trying to bring the cases of the 44 people accused of so-called feis fixing to a satisfactory conclusion. That will now never happen. And in the midst of the latest scandal, it has also emerged the CLRG is facing insolvency, the Irish Independent reported. Those who had been accused are furious: many maintain that had they had the benefit of a hearing, they would have been cleared of gross misconduct.

Confidence among U.K. consumers rose a little in May, with easing inflation and the expectation of falling Bank of England interest rates set to boost Britons’ spending power, WSJ Pro Bankruptcy reported. Research group GfK’s consumer-confidence barometer climbed for a second-straight month to minus 17 in May, from minus 19 in April, in line with economists’ expectations in a Wall Street Journal poll.

The European Central Bank should probably wait until September for any subsequent interest-rate cut after it begins reducing borrowing costs in June, Bundesbank President Joachim Nagel said, Bloomberg News reported. The hawkish German monetary chief cautioned against following up next month’s prospective easing too quickly. “If there’s a rate cut in June, we have to wait, and I believe we have to wait till maybe September,” he said in an interview on Friday at a meeting of Group of Seven counterparts in Stresa, northern Italy.

A woman accused of converting bitcoin into cash and property to help hide the proceeds of a 5 billion pound ($6.4 billion) fraud was jailed for nearly seven years on Friday for money laundering after a trial in a London court, Reuters reported. Prosecutors said Wen Jian helped hide the source of money allegedly stolen from nearly 130,000 Chinese investors in fraudulent wealth schemes between 2014 and 2017. She was not alleged to have been involved in the underlying fraud, which prosecutors said was masterminded by another woman who Wen believed was independently wealthy.

A director of Indian tech firm Think & Learn Pvt faces financial penalties for defying a US judge’s order to find out where the troubled company stashed $533 million that jilted lenders say should go to them, Bloomberg News reported. Riju Ravindran, the brother of company founder Byju Raveendran, not only failed to make a serious effort to find out what happened to the cash, but deceived the court, U.S. Bankruptcy Judge John Dorsey said during a hearing yesterday in Wilmington, Del. “I conclude Mr. Ravindran’s testimony is not truthful,” Dorsey said.