German industrial production fell more than expected in March, partly due to a weak performance by the automotive sector, spurring again recession fears in Europe's largest economy, Reuters reported. Production decreased by 3.4% on the previous month following a slightly revised increase of 2.1% in February, the federal statistical office said on Monday. In a Reuters poll, analysts had pointed to a 1.3% fall. "After a buoyant performance by industrial production at the beginning of the year, there was an unexpectedly sharp decline in March," the economics ministry said.

Investors shouldn’t count on the European Central Bank’s unprecedented bout of interest-rate increases ending in July, as the majority of economists currently predicts, according to Governing Council member Martins Kazaks, Bloomberg News reported. “I don’t think it is that clear yet,” the hawkish Latvian official told Bloomberg on Monday by phone.

According to data collected by Dun & Bradstreet, bankruptcy rates have been on the rise in Finland. However, there are signs of stabilization in some regions, such as Pohjanmaa, Lappi, and Etelä-Savo, where the number of bankruptcies decreased compared to the previous year, the Helsinki Times reported. The cumulative number of bankruptcies in Finland began to deviate from previous years in June 2022, with a 26% increase from the previous year.

A judge is hearing submissions at the Irish High Court on whether it is the appropriate court to hear an application by a company whose shareholders include rugby star Ronan O'Gara and businessman Michael O'Flynn relating to the Personal Insolvency Arrangement made in favour of fellow shareholder John O'Driscoll, the Irish Examiner reported. The company Ezeon Entertainment Ltd now want the High Court to set aside its order made in July 2022 where an appeal brought by businessman Michael O’Flynn against a Circuit Court order approving Mr O’Driscoll’s PIA was dismissed.

The funding squeeze gripping Sweden’s leveraged property sector worsened on Monday after one of the country’s biggest commercial landlords saw its credit rating cut to junk with a warning that a further downgrade is possible, Bloomberg News reported. SBB — as Samhallsbyggnadsbolaget i Norden AB is more commonly known — was lowered to BB+ and placed on negative outlook by S&P Global Ratings. The rating firm said it no longer believed the landlord could meet its thresholds for investment-grade debt metrics.

An aircraft lessor, Aircastle, has filed insolvency resolution proceedings against cash-strapped SpiceJet, the Economic Times of India reported. The National Company Law Tribunal (NCLT) will hear this case next week. The NCLT website shows that two more petitions for insolvency resolution proceedings against SpiceJet are pending. Engine supplier Willis Lease Finance Corporation filed its plea on April 12 and infra company Acres Buildwell on February 4.

A potential dispute over the wipeout of Credit Suisse Group AG’s riskiest bonds in Asia has drawn the attention of several funds experienced in financing lawsuits for retail investors, Bloomberg News reported. Burford Capital Ltd., which says it is the world’s biggest provider of commercial legal finance, is tracking the development as law firms rally aggrieved bondholders. Last week, a group of more than 60 holders in Asia filed a claim against Switzerland’s banking regulator over the decision to write down about 16 billion Swiss francs ($18.1 billion) of additional tier-one notes.

Italy's Treasury is open to reducing its 64% stake in Monte dei Paschi di Siena (MPS) through one or more share sales on the market, three people briefed on the matter told Reuters. Such an option, however, would only be considered if financially advantageous and as long as any significant new investor would manage the holding in line with the national interest.

India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, Reuters reported. This would be a major setback for Indian importers of cheap oil and coal from Russia who were awaiting a permanent rupee payment mechanism to help lower currency conversion costs.

Six weeks since the deal to rescue Credit Suisse Group AG was rushed through, at least 120 claims have been filed against the Swiss banking watchdog’s decision to wipe out about $18 billion worth of its high-risk bonds as part of the deal, Bloomberg News reported. As of May 2, the claims represent around 1,300 individual bondholders, according to a spokesman for the Swiss Federal Administrative Court. Claimants focused on a notional deadline to file of May 3.