Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged, FashionNetwork.com reported. Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating business.

The Esports Advocate has learned that Berlin-based esports data firm Bayes Esports Solutions GmbH was put under administration and filed for insolvency in late May (case no. 3602 IN 3585/25),ESportsAdvocate.net reported. On Aug. 1, the Charlottenburg district court in Berlin determined that Bayes is both illiquid and over-indebted, triggering a main insolvency proceeding (Hauptinsolvenzverfahren) in accordance with EU Regulation 2015/848. The court received the insolvency filing on May 26. Berlin-based attorney Dr.

German antenna technology company Kathrein Broadcast has emerged from a period of financial uncertainty with the backing of a new investor consortium, BroadbandTVNews.com reported. Lenbach Capital, a Munich-based investment firm, will secure the long-term continuation of operations, according to the company. Financial details of the transaction were not disclosed. The deal lays the groundwork for the conclusion of the insolvency proceedings that were initiated in March 2025.

German industrial orders unexpectedly fell in June, declining for a second straight month, due to falling demand from abroad, a trend that looks set to continue due to increased tariffs on exports to the United States, data showed on Wednesday, Reuters reported. Orders were down by 1% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said. Foreign orders fell 3.0% on the month, while domestic ones rose 2.2%. Those from outside the euro zone dropped 7.8%, while inside the euro zone, they grew by 5.2%.

Brazil's government has set aside for now plans for direct retaliation against steep U.S. tariffs taking effect this week, focusing instead on a relief package for industries hit hardest by the levies, Reuters reported. Wide-ranging exemptions granted in U.S. President Donald Trump's executive order last week spared some of the most vulnerable sectors of Latin America's largest economy, to the relief of many investors and business leaders.

The Swiss government announced on Monday that it is preparing a "more attractive offer" in its trade negotiations with the United States, in a bid to avoid high 39% US tariffs on its imports, which would severely damage the export-driven Swiss economy, EuroNews.com reported. In an official statement following an emergency government meeting, the Federal Council - the executive body of the Swiss government - confirmed its intention to continue talks with Washington, even after US President Donald Trump's 7 August deadline for the new tariffs to come into force.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil. He also said a "zero tariff" offer for imports of U.S. goods into India was not good enough, alleging that India was "fuelling the war" in Ukraine. Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.

Business activity in the euro zone grew at a slightly faster pace in July than in June but remained sluggish as demand dipped, a survey showed on Tuesday, Reuters reported. The HCOB Eurozone Composite Purchasing Managers' Index, compiled by S&P Global, edged up to 50.9 in July from 50.6 in June, just below a preliminary estimate of 51.0. July's reading marked a four-month high but was still below the survey's long-term average of 52.4, reflecting persistent weakness in the 20-country currency bloc.