Credit Suisse Group AG said it made a $400 million payment to investors in its supply-chain finance funds that invested in Greensill products, its fourth such disbursement to clients hit by the liquidation, Bloomberg News reported. The Aug. 6 payment takes the total paid to investors in the funds to about $5.9 billion, according to an updated Q&A on the bank’s website on Tuesday. The funds’ total cash position is about $7 billion, or about 70% of assets under management when they were suspended, it said. The Aug.

August saw the lowest figure for proposed job cuts for seven years, despite the imminent end of the government's furlough scheme, BBC.com reported. Figures published by the Insolvency Service show that British employers planned 12,687 job cuts in August, a fall of 11% since July. The data suggests that the predicted surge in unemployment this autumn may be smaller than expected. At the height of the pandemic, firms proposed over 150,000 job cuts a month. Employers planning to make 20 or more staff redundant have to notify the Insolvency Service when they start the process.

EY auditors in Switzerland failed to raise the alarm over multimillion-dollar jewelery purchases and approved huge payments to opaque offshore companies in the years before one of the country’s biggest ever corporate collapses, the Irish Times reported. Zeromax, a conglomerate based in the Swiss canton of Zug, had a business empire in Uzbekistan with interests ranging from textile processing to natural gas extraction that made it the Asian country’s largest employer, accounting for as much as 10 per cent of GDP.

Serbia's Bankruptcy Supervision Agency said it is offering for sale the assets of insolvent gold refiner Majdanpek at an auction on October 5, SeeNews.com reported. The starting price is set at 129.8 million dinars ($1.3 million/1.1 million euro), the Bankruptcy Supervision Agency said in a notice on Tuesday. A deposit of 51.9 million dinars which should be paid by September 28 is required in order to participate in the auction. The list of assets put up for sale includes foundries, jewelry production facilities, a chemistry and metallurgy workshop, a warehouse and office premises.

German regulators have launched an investigation into the country's biggest financial company, Allianz, after the demise of some of its U.S. investment funds last year, people with direct knowledge of the matter told Reuters. The move heightens the pressure on the insurer, which is already facing a slew of investor lawsuits over its Structured Alpha Funds and related investigations by the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC).

UK music tech startup Roli has filed for bankruptcy and will reform, Digital Music News reported. The company says its niche target market and the coronavirus pandemic forced a reset. Both Pharrell and Grimes backed the British music startup. some Roli products will live on through Luminary, which is rising from the ashes of the Roli bankruptcy. CEO and Founder Roland Lamb raised £5 million to launch the rebooted company, Luminary. Roli’s 70 employees will shift to the new business, which closed $6.85 million in initial funding from Hoxton Ventures.

Two furloughed jumbo jet pilots and a burnt-out finance worker have been among the more unusual candidates to learn how to drive 44-tonne trucks at Laurence Bolton's school in south London during the pandemic, Reuters reported. "You get people from all industries, and think: 'Blimey, I never saw you here before 2020'," Bolton said. "There are more people that have been displaced from retail, with the high street closing or certainly running down, and from hospitality." Business is brisk for truck driving schools as Britain emerges from its COVID-19 crisis.

French dairy giant Lactalis is in talks to buy Kwality Dairy (now Kwality) in a fire sale as the company’s creditors have failed to reach a timely agreement on its debt resolution, forcing the National Company Law Tribunal (NCLT) to send it to liquidation, the Economic Times of India reported. Talks between Lactalis and Kwality Dairy’s creditors have gathered steam over the past few weeks and could result in the former making a formal proposal for Kwality Dairy in the next 8-10 days. This could be Lactalis’s fourth acquisition in India, if the creditors agree to its proposal.

Credit Suisse Group AG’s London legal battle with Sanjeev Gupta was delayed by another six months, as the metals tycoon continues to seek funding for his empire, Bloomberg News reported. An initial hearing over the bank’s attempt to push some of Gupta’s companies into insolvency has been rescheduled to March by consent between the parties, a court official said by email. Earlier this year, the Swiss lender, through Citibank, filed “winding-up petitions” against a number of companies in Gupta’s GFG Alliance Group, including Liberty Commodities Ltd.

The government of Italian Prime Minister Mario Draghi is preparing its first full annual budget with a view to keeping up extra spending even with the economy rebounding faster than expected, Bloomberg News reported. Finance Minister Daniele Franco’s staff are working on a new fiscal law worth about 20 billion euros ($24 billion) to sustain measures supporting families and businesses during the pandemic, according to officials familiar with the matter who declined to be identified discussing confidential plans.