Adler Group SA shares jumped as much as 64% after the landlord agreed an expensive deal with creditors to extend debt maturities and postpone publication of audited accounts, Bloomberg News reported. Despite Monday’s record gain, the company’s shares have still lost almost three quarters of their value this year after a damning short report published by Viceroy Research in October 2021 accused the company of being run for the benefit of tycoon Cevdet Caner.

German car supplier Ruester GmbH said that it has filed for restructuring in self-administration, a special form of insolvency proceedings that give the owners bigger say, citing liquidity problems partly caused by higher energy costs, Reuters reported. As part of the proceedings, Ruester, which makes annual sales of around 120 million euros ($125 million) and made two acquisitions in 2022, will look for a buyer as a way to keep the company afloat, it said.

Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday, Reuters reported. "We do not see the components or the direction that would lead me to believe that we've reached peak inflation and that it's going to decline in short order," Lagarde told the European Parliament. "Whenever I ask my top-notch economists at the ECB ...

Pemberton Asset Management is fast-tracking plans to triple the size of its private debt funds and plug a European lending gap being created by increasingly skittish banks, Bloomberg News reported. The $17 billion investment firm is in the process of raising capital for five credit strategies, which include lending on mid-market buyouts, Founder and Managing Partner Symon Drake-Brockman said in an interview. “We are aiming to become a $50 billion manager in the European marketplace over the next five years,” Drake-Brockman said.

More than two out of every five (41%) established small and medium businesses (those with between 10 and 100 employees) across the UK expect to shut their doors permanently, be forced to conduct mass redundancies or close locations within the next 12 months, the Business Leader reported. And more than one in three (39%) fear their business will be fatally or critically impacted by any forthcoming recession, while a similar number (43%) say they will have to borrow money just to keep their business afloat or refinance existing debt (37%).

Higher inflation and slower growth are the heavy price that the global economy is paying for Russia’s war in Ukraine, the Organization for Economic Cooperation and Development said on Tuesday, the New York Times reported. Record inflation, fueled by the largest energy crisis since the 1970s, is creating financial hardship for millions, the Paris-based organization said in a new report. Governments and policymakers must make it their top priority to bring inflation down, while shielding households and businesses with targeted spending, the O.E.C.D. added.

Korean consumers were misled by some of the nation’s biggest financial firms and should get back the money they lost when a German property fund collapsed, South Korea’s financial watchdog recommended Tuesday, Bloomberg News reported. The six firms -- Shinhan Securities Co., NH Investment & Securities Co., Hana Bank, Woori Bank, Hyundai Motor Securities Co. and SK Securities Co. -- should repay the 430 billion won ($317 million) clients lost, a panel at Financial Supervisory Service said.

Britain's 'highly concentrated' consumer credit ratings market used for obtaining loans is not working well, and a new industry body to help improve the quality of scores is needed, the Financial Conduct Authority said on Tuesday, Reuters reported. Experian, Equifax and TransUnion make up almost all of the Britain's 800 million pound ($946.32 million) credit reference agencies (CRAs) sector. Switching between them is difficult, the FCA said in an interim report, which found no competition concerns that require immediate action.

These should be great times to be in the wind energy business, especially in Europe. Governments here have long promoted offshore wind projects, and those efforts have accelerated since Russia started cutting natural gas shipments in its war against Ukraine, the New York Times reported. “We need clean, we need cheaper and we need homegrown power,” Ursula von der Leyen, the European Union president, said in August.

Some European Union lawmakers warned the bloc's executive Commission against unlocking billions of euros in funds for Hungary, saying Prime Minister Viktor Orban was trampling on democratic norms, Reuters reported. The Brussels-based European Commission is expected next week to endorse giving to Hungary funds worth as much as a tenth of the country's estimated 2022 GDP after Budapest moves to improve anti-graft safeguards and the independence of its judiciary.