Investor sentiment in Germany dropped sharply in February as the effects of the coronavirus outbreak weighed on exporters, a survey revealed, adding to an increasingly gloomy picture for Europe’s biggest economy, the Financial Times reported. The Zew survey of financial market experts found that sentiment about the outlook for the German economy fell 18 points this month to a reading of 8.7. This is well below January’s score of 26.7 and significantly worse than the 21.5 economists in a Reuters poll had been expecting.

UK steel magnate Sanjeev Gupta has completed the acquisition of a bankrupt Indian steelmaker after a long court battle, the first foray by his GFG Alliance into the country’s fast-growing market following previous failed attempts, the Financial Times reported.

More than 7m Britons are struggling with debt and are at risk of being exploited by some lenders’ business models, according to a new assessment of potential harm to consumers by the UK financial watchdog, the Financial Times reported. The Financial Conduct Authority on Tuesday listed the treatment of over-indebted borrowers, unsuitable pension transfers, and the marketing of high risk investment products as among the greatest risks posed by the financial services industry in 2020.

Renault has been punished for its weak full-year results last week with a downgrade of its credit rating into junk territory by Moody’s, the rating agency, the Financial Times reported. The downgrade of the French carmaker’s debt to Ba1, just below investment grade, “was triggered by Renault’s substantially weakened operating performance reported for the year 2019”, said Moody’s in a statement on Tuesday evening.

Sirius Minerals said on Friday talks with a consortium of financial investors on an alternate debt financing proposal to raise $680 million has fallen through, putting the company at the risk of going under administration or liquidation, Reuters reported. “The board confirms that the company has not been able to secure an institutional anchor investor willing to provide sufficient support for the alternative proposal which was part of the consortium’s requirements,” Sirius said in a statement.

Profits at British utility Centrica slumped 35% last year, hit by a government price cap on some energy bills and the impact of lower natural gas prices on its production business, sending its shares down as much as 17% on Thursday, Reuters reported. The company, whose British Gas unit is Britain’s largest energy supplier, said adjusted operating profit fell to 901 million pounds from 1.39 billion pounds in 2018.

An investigation into how the son of a Co Donegal bankrupt came to own property that had formerly been owned by his father, is being conducted by the official assignee, Chris Lehane. In December last, Ms Justice Teresa Pilkington extended the bankruptcy of PJ Sweeney, of High Cairn, Ramelton, Co Donegal, to July 2025, The Irish Times reported. Mr Lehane told the judge that Mr Sweeney, who was adjudicated a bankrupt in July 2017 because of his debts to the Bank of Ireland, was not engaging with his office and had failed to produce a statement of affairs.

Greek lawmakers approved a restructuring plan for Larco late on Wednesday which Greece called a last attempt to save Europe’s biggest nickel producer, Reuters reported. The European Commission said in November it was taking Greece to the European Court of Justice (ECJ) over its failure to recover 135.8 million euros ($147.63 million) of illegal state aid to Larco which is struggling under heavy debt.

Ryanair’s chief commercial officer on Thursday denied any interest in buying Air Italy after press reports linking his group to the loss-making airline, which was put into liquidation by its owners earlier this week, Reuters reported. Air Italy’s owners Qatar Airways and regional carrier Alisarda blamed “persistent and structural market problems” for the decision to pull the plug on Tuesday. Asked about Italian press reports that Ryanair was preparing an offer, chief commercial officer David O’Brien said his group was not interested and had not been approached. “Let’s clear the room ...

Babcock International nudged down its guidance for annual underlying operating profit and wrote down the value of its oil and gas transportation business in the latest blow to the British engineer, Reuters reported. One week after the company announced the retirement of Chief Executive Archie Bethel, Babcock said it would also embark on an improvement and restructuring programme to ensure it remains on track for medium term targets.