The Bank of England is concerned about the ways that private equity giants value their holdings and how that methodology could amplify any economic shocks in the UK, Bloomberg News reported. The central bank’s Financial Policy Committee is monitoring the risk as part of its ongoing probe into PE investment across the UK and the worry is that if the economy worsens, buyout funds might need to deleverage their investments in order to repay their debts. That could result in healthy portfolio companies being sold at steep discounts.

Germany’s BayWa AG scrapped a euro bond sale Monday, just weeks before one of its existing notes in the currency will mature, Bloomberg News reported. The issuer, which provides trading and logistics services in the agriculture, building and energy industries, had offered €250 million ($266 million) of five-year notes at a yield of around 6.75%, according to a person with knowledge of the matter, who asked not to be identified as the information is private.

The European Central Bank won’t be swayed from a first interest-rate cut in June by oil price uncertainty, Governing Council member Francois Villeroy de Galhau said, Bloomberg News reported. According to the Bank of France governor, even if conflict in the Middle East did push up oil costs, policymakers would have to first analyze if such a shock fueled underlying prices and inflation expectations. That means there’s no “mechanical” reaction, he said in an interview with Les Echos published Sunday.

Controversial tax rebate agent Brooksdale has entered liquidation, leaving customers of the firm questioning whether they will receive money claimed on their behalf,ThisIsMoney.com reported. The Manchester-based firm held a virtual meeting of creditors last week, where a creditors voluntary liquidation was approved and insolvency firm Fortis Insolvency appointed to manage it. A creditors voluntary liquidation happens when a company cannot pay its debts, and enough of the firm's shareholders agree that it should happen. It represents the start of the process of winding down the firm.

European Union leaders on Thursday agreed to align "relevant aspects" of their countries' insolvency laws for companies, as part of broader efforts to integrate capital markets and make the bloc more competitive, DPA International reported. EU leaders’ agreed to a declaration that commits to “harmonizing relevant aspects of national corporate insolvency frameworks,” among other measures to further integrate capital markets. The EU is struggling to compete with the United States and China, and commissioned former Italian prime minister Enrico Letta to come up with a plan.

The European Central Bank mustn’t rush into further interest rate cuts after a likely first step in June, Governing Council member Madis Muller said, Bloomberg News reported. “We should be careful not to move too quickly with the loosening of monetary policy and wait until the data gives us the necessary confidence that inflation is getting sustainably back to the target,” the Estonian central bank chief said in an interview.

Europe’s economy is nearing the end of a malaise that’s resulted in more than a year of near stagnation, according to European Central Bank President Christine Lagarde, Bloomberg News reported. Output in the 20-nation euro zone is “recovering and we are clearly seeing signs of recovery,” Lagarde told the Council on Foreign Relations in Washington on Wednesday. “We haven’t had a recession, but it’s been very, very slow and meager,” she said.

Bank of England Governor Andrew Bailey said that the U.K. and the rest of Europe are facing less of an inflation threat than the US, opening the prospect of a rate cut for Britain before the Federal Reserve moves, Bloomberg News reported. Inflation in the UK will fall near its 2% target next month and has declined roughly in step with the BOE’s forecast in February, Bailey said Wednesday at a meeting of the Institute of International Finance in Washington, D.C.

The administrators for Greensill Capital are still owed around $587.2m (£472m) from Sanjeev Gupta’s GFG Alliance, it has been revealed, CityAM.com reported. Grant Thornton, the administrators for Greensill, published a report on Sunday, where it outlined how the firm is still in ongoing discussions with a number of debtors, including GFG Alliance, regarding outstanding balances owed.

Pole Bicycles Company has appeared on a Finnish insolvency registry today, PinkBike.com reported. The filing appeared on Finnish legal case database maksukyvyttomyysrekisteri.om.fi on April 17, 2024. As of yet, there is no notice of it on Pole's website or social media, but founder Leo Kokkonen confirmed the news in a message to Rob Ride's eMTB's YouTube channel. Just three weeks ago, Pole announced their Factory Racing team of Dan Slack and Onni Rainio. Based in Finland, Pole Bicycles was created in 2015 by Leo Kokkonen, an out-of-the-box designer and passionate rider.