Unemployment remained at historic lows in the eurozone at the end of the second quarter, adding to signs of economic resilience and cementing the likelihood that the European Central Bank will keep holding interest rates in place, the Wall Street Journal reported. The jobless rate stood at 6.2% in June in the 20-member currency area, unchanged from a revised May estimate and matching historically low levels, European Union statistics showed Thursday. Unemployment decreased by 62,000 people over the month.

Inflation stayed steady in France, likely keeping the European Central Bank cautious over any further cuts to interest rates ahead, the Wall Street Journal reported. Consumer prices rose 0.9% on year this month, according to EU-harmonized figures set out Thursday by the French statistics authority. That was the same rate of annual inflation as booked in June. Energy prices fell on year after a surge in July last year, while food inflation picked up a little pace, the figures showed.

One of Britain’s biggest vertical farming businesses has been put up for sale on an insolvency marketplace after reporting widening losses, City AM reported. London-based Vertical Future, which has raised more than £37m in capital since it was founded in 2016, saw its losses surpass £10m in 2024 after turnover tumbled from £6.7m to just £692,000. Vertical Future had hoped to raise as much as £60m in a fresh funding round in 2023 to help grow the business, according to the Standard.

Norwegian subsea services company Argeo has filed for bankruptcy after multiple processes failed to secure the funding needed for the company to continue operations, BairdMaritime.com reported. A Norwegian court officially opened bankruptcy proceedings for Argeo and its main Norwegian subsidiaries on July 24. The decision follows a period of uncertainty for the company. After initially resolving to file for bankruptcy in early July, the board postponed the filing after receiving indications of interest from several industrial players.

Irish financier Paul Coulson has agreed to cede entire control of Ardagh Group, the glass bottles and drink cans giant he built up over the past 25 years, to a group of its bondholders in exchange for a share of a $300 million (€257 million) pay-off, the Irish Times reported. The company at the top of Ardagh Group corporate tree has an estimated $12.5 billion of debt, which became unsustainable after its earnings were hit since the Covid-19 pandemic by inflation, soaring interest rates, and soft consumer demand on both sides of the Atlantic.

The eurozone economy slowed in the three months through June, but showed a resilience that suggests it could recover in the months ahead despite the higher tariffs its exports now face in the U.S., the Wall Street Journal reported. Gross domestic product in the 20-nation currency union grew 0.1% over the quarter, European Union figures showed Wednesday. That marks a slowdown from the 0.6% growth the eurozone booked in the first quarter of the year. On an annualized basis, the eurozone economy expanded by 0.4%, down from 2.3% in the first quarter.

California-based battery startup Lyten has raised $200 million from existing investors to acquire assets from the bankrupt Swedish manufacturer Northvolt AB, TechinAsia.com reported. This funding will facilitate the restart of production at Northvolt’s factory in Gdansk, Poland. The Gdansk facility, idled earlier this year, will initially resume operations using nickel-based battery cells previously developed by Northvolt. Lyten plans to begin customer deliveries from the plant by the fourth quarter of 2025.

Intrum AB, a Swedish debt collector, has announced the immediate departure of CEO Andres Rubio following the company's recapitalization and exit from U.S. chapter 11 bankruptcy proceedings, AIInvest.com reported. Rubio will be succeeded by CFO Johan Akerblom, who previously worked at Citadele Banka AS and SEB AB in Germany and the Baltics. Akerblom will now lead Intrum as it focuses on its commercial development strategy. Intrum AB provides payment solutions and credit and collection services in Europe and internationally, operating through the Servicing and Investing segments.

Growing numbers of Yorkshire business are experiencing financial strain as economic pressures mount, according to the UK’s biggest insolvency practitioner, YahooNews.com reported. Almost 46,000 firms across Yorkshire were experiencing ‘significant’ financial distress in the second quarter of this year, up 14.5 per cent on the previous quarter and 9.5 per cent on the same time last year, according to the latest Red Flag Alert research from Begbies Traynor.

The Leipzig-based tram manufacturer Heiterblick is currently grappling with significant challenges as it faces insolvency, The Munich Eye reported. Once aspiring to become the leading name in the streetcar manufacturing sector, the company now finds itself in a precarious situation. Earlier this year, the managing director of Heiterblick expressed optimism about the company's future, even seeking recognition as the Saxon Entrepreneur of the Year.