A small uptick in private sector activity in the eurozone in August was not enough to dispel fears of lacklustre growth in the third quarter as Germany’s export-led factory sector continued to suffer from global trade tensions and weakening growth, the Financial Times reported. A closely watched survey of executives found that the small pick-up in eurozone activity was the result of the resilience of the services sector in both France and Germany, which helped offset the woes of the German manufacturing sector. The IHS Markit purchasing managers’ composite index for the eur

European banks have been given more time to set aside funds to cover losses from loans that go bad, after the European Central Bank bowed to pressure from Brussels lawmakers to water down its plans for a tougher treatment of toxic debts, the Financial Times reported. The move, which follows two years of debate between the central bank and European lawmakers, will be a relief to Italian politicians and banking executives who had protested about the initial proposals from the ECB’s Single Supervisory Mechanism.

Jamie Oliver is looking to move on from the collapse of his 25-strong restaurant group in the UK, by recasting his business interests to focus on his campaigning efforts against junk food and child obesity, the Financial Times reported. Mr Oliver, who has said that he was “utterly devastated” about the bankruptcy of his Jamie’s Italian chain in May, will unveil a report on Friday that is the first step in an effort to achieve B Corp status for his media and book publishing business, Jamie Oliver Group.

Germany has sold 30-year debt at a negative yield for the first time, although demand at Wednesday’s auction was weak as some investors balked at the prospect of paying to tie up their cash for three decades, the Financial Times reported. The sale of a new bond maturing in 2050 priced with a yield of minus 0.11 per cent, roughly in line with yields in the secondary market. German 30-year bonds have sunk into negative territory in recent weeks as investors pile into safe assets in anticipation of a revival of the European Central Bank’s bond-buying quantitative easing programme.

Gold miner Avocet Mining Plc on Wednesday appointed Paul Williams and Geoffrey Bouchier from Duff & Phelps Ltd as joint administrators, as it started its insolvency process, Reuters reported. The appointments, effective Aug. 21, come a few months after the struggling gold miner said its board proposed voluntary liquidation of the company as it faced mounting debt. Last week, the West Africa-focussed miner said it would pursue a formal insolvency process by appointing administrators to the company, but also remained open to exploring “viable funded investment opportunities”.

A High Court judge has said he would approve a debt write-off of about €3 million for musical director Frank McNamara and his wife Theresa Lowe, the former RTÉ presenter, The Irish Times reported. However Mr Justice Denis McDonald has sought further clarification first around the true value of Mr McNamara’s inheritance of his parents’ home and rental income on the property, which will go towards repaying some of the couple’s debts, before he signs off on their proposed personal insolvency arrangements.

Italy's bond yields tumbled on Tuesday amid growing investor expectations that its political crisis could be short-lived, potentially paving the way for a new coalition government and reducing the uncertainty of snap elections, the International New York Times reported on a Reuters story. Prime Minister Giuseppe Conte announced his resignation as he made a blistering attack on his interior minister, Matteo Salvini, accusing him of sinking the ruling coalition for personal and political gain.

Germany has a new test of investors’ voracious appetite for bonds with very low or even negative yields: a 30-year bond that offers no interest payments at all, the Financial Times reported. Wednesday’s auction of a new €2bn bond maturing in 2050 marks the first time that Berlin has issued 30-year debt with a zero per cent coupon — a step it has already taken with 10-year bonds.

Casino has outlined plans to sell an additional €2bn in assets as the French retailer looks to slice its debt and focus on key markets, the Financial Times reported. The announcement on Tuesday comes as part of a broad restructuring led by chief executive Jean-Charles Naouri to shore up the company’s financial position. It had already sold €2.1bn in non-core assets as part of a previously-announced €2.5bn programme, the company said.

Germany’s central bank has warned that Europe’s largest economy is likely to tip into recession in the third quarter, dragged down by a sharp drop in German exports and a decline in industrial production, the Financial Times reported. The Bundesbank said in its monthly update that it expected Germany’s economy to remain “lacklustre” in the three months to September, adding that it “could continue to decline slightly” after it shrank by 0.1 per cent in the three months to June.