The governments of Britain and the United States will set up a body to reduce red tape for firms seeking to access capital markets on both sides of the Atlantic and improve cooperation on crypto assets, Britain's finance ministry said on Monday, Reuters reported. The Transatlantic Taskforce for Markets of the Future will report back within 180 days on ways to enhance collaboration in the short term and on longer-term options, including in wholesale digital markets, the Treasury said. Creation of the taskforce was approved by British finance minister Rachel Reeves and U.S.
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The UK’s Financial Conduct Authority has reduced the time it takes to approve crypto registration applications by 69% since 2023, although data from the regulator also show that there has been a 43.5% decline in applications over the past two years, Decrypt.com reported.
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Euro zone economic growth continues to hold up as Germany's budget largesse props up sentiment and offsets turmoil in France, but more weakness may be ahead as U.S. tariffs start to exert their full effect, key data showed on Tuesday, Reuters reported. The euro zone has been expanding quicker than economists had expected this year, sparking debate over whether the bloc is simply more resilient than thought and how much damage French political turmoil will do across the 20 nations.
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Carpetright has filed for bankruptcy in the Netherlands. Its 75 stores have closed, while 350 jobs are at risk, RetailDetail.eu reported. It is the latest in a long series of troubles for the former retail giant. On Friday morning, the chain applied for protection against creditors, but that was already converted into bankruptcy by the afternoon. Management blames a new software system, which caused problems during start-up, but claims the company is “fundamentally sound”.
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A judge has further extended protection under the Personal Insolvency Acts for a Co Galway man with debts of about €8.5 million, the Irish Times reported. A personal insolvency practitioner for Gerry Connolly of Kilternan, Kilcolgan, Co Galway, had previously obtained a 40-day extension of a protective certificate under the Acts. This was sought to allow more time to deal with Mr Connolly’s creditors and prepare a proposal for a personal insolvency arrangement. The bulk of Mr Connolly’s €8.5 million debt is to Ulster Bank Ireland DAC.
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More German companies in Japan see the country as a manufacturing hub for Asia — and not just as a sales market — with stability, affordability and proximity to major markets cited as top draws, according to a survey by the German Chamber of Commerce and Industry in Japan (AHK Japan), the Japan Times reported. Regulatory robustness and relative affordability of operation, due to the weakness of the yen against the euro, contribute to Japan being an attractive choice for manufacturers.
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