Indian auto parts maker Samvardhana Motherson International (SMIL)said on Monday that it made a second acquisition this month, buying Germany's Dr. Schneider Group for 118.3 million euros ($131.6 million), Reuters reported. Dr. Schneider Group, a unit of Dr. Schneider Holding, manufactures interior components for vehicles such as panels and lighting. The German company had filed for insolvency in September 2022 due to "a failed operational and financial restructuring", Samvardhana Motherson said in a statement, referring to the acquisition, which was done through an insolvency process.

A millionaire 'magic circle' lawyer who sailed the seas on a £17 million superyacht is facing bankruptcy after failing to hand a £19 million investment fund back to a Saudi princess, the Daily Mail reported. Former lawyer Ronald Gibbs has been locked in a court fight with the Saudi Royal Family after he agreed to set up and manage the multi-million-pound investment fund for Princess Deema Bint Sultan Bin Abdulaziz Al Saud in 2011.

Aircraft manufacturers are stabilising production runs but problems will likely persist in the supply chain as they ramp up deliveries in the next two years, the head of the world's third-largest aircraft lessor said on Thursday, Reuters reported. A rapid post-pandemic recovery in air travel has left planemakers and smaller suppliers struggling to keep up with demand amid rising costs, parts shortages and a scarcity of skilled labour.

Consumer prices in Britain rose 7.9 percent in June from a year ago, the Office for National Statistics said on Wednesday, the slowest pace of inflation in more than a year, the New York Times reported. The slowdown, which was greater than economists had expected, will bring some relief to the government following months of inflation repeatedly turning out higher than forecast. The annual rate of price growth slowed from 8.7 percent in May. The decline was driven by a large drop in the price of motor fuels. Food prices rose 17.3 percent in June from the year before.

Public services are in crisis. The NHS is on its knees. The water industry – which is now largely privatised – has failed to invest in infrastructure, and as a result sewage pollution is damaging the environment at an unprecedented rate, the New Statesman reported. Thousands of pupils have been taken out of outdated and unsafe school buildings and are being educated remotely or in temporary classrooms.

Under Belgian law, criminal and civil judges can impose a prohibition on both individuals and corporate entities to prevent them from performing certain management functions in a company (management prohibition) upon conviction or in the context of insolvency, Linklaters reported. In practice, however, these management prohibitions often remain a dead letter, as persons who are prohibited from taking up a directorship are still appointed directors due to a lack of monitoring of compliance with these prohibitions.

Dutch bicycle maker VanMoof has been declared bankrupt, slamming the brakes on a company that won design awards for its stylish, minimalist electric bikes but struggled to meet soaring demand and fix glitches with the app powering its service, ABC News reported. The Amsterdam-based company, started in 2009 by brothers Taco and Ties Carlier, posted a statement on its website informing clients that an Amsterdam court declared VanMoof bankrupt on Monday. The company headquarters in Amsterdam was closed Tuesday.

Europeans are facing a new economic reality, one they haven’t experienced in decades: They are becoming poorer, the Wall Street Journal reported. Life on a continent long envied by outsiders for its art de vivre is rapidly losing its shine as Europeans see their purchasing power melt away. The French are eating less foie gras and drinking less red wine. Spaniards are stinting on olive oil. Finns are being urged to use saunas on windy days when energy is less expensive.