German auto supplier Eisenmann, which supplied Tesla in 2015 with a new paint shop at its Freemont plant in California, filed for insolvency late on Monday, in a sign of the growing economic problems crushing profits in the auto sector, Reuters reported. Eisenmann, which has 3,000 employees and generated annual revenues of 723 million euros ($806 million) in 2017, filed for insolvency at the Stuttgart District Court. The Boeblingern, Germany-based company said it was now looking for a strategic partner for its Paint & Assembly, as well as its Application Technology businesses.

Factory gates shutting for the last time; a vast steelworks teetering on bankruptcy; for sale signs hoisted over some of the grandest names in British industry, the Financial Times reported. Scenes like these that scarred communities in decades past are now coming back to haunt the UK, following a run of troubling developments at some of the country’s largest manufacturers that have left thousands of jobs on the line.

When ArcelorMittal temporarily laid off about 1,400 Italian workers at its Taranto plant last month, it was just the latest sign that the eurozone’s economic weakness was feeding into the labour market in the bloc’s third-largest economy, the Financial Times reported. The lay-offs — which will last for 13 weeks and are part of a broader cutback in the steelmaker’s European production volumes — came as a result of “really critical” market conditions, ArcelorMittal Italia chief executive Matthieu Jehl said at the time.

UK company insolvencies rose to a five-year high in the second quarter of this year, in a possible sign of Brexit-related political uncertainty weighing on businesses, the Financial Times reported. Underlying corporate insolvencies rose 2.6 per cent from the first to the second quarter of the year, and are 12 per cent higher than the same period last year, according to the Insolvency Service, a government agency. The figures relate to the second quarter, when Brexit was delayed and Boris Johnson emerged as the frontrunner to replace prime minister Theresa May.

The number of insolvent companies in England and Wales hit its highest in more than five years in the second quarter of 2019, according to data on Tuesday that showed businesses under rising financial pressure as Brexit nears, Reuters reported. The Insolvency Service, a government agency, said 4,321 companies entered insolvency in the April-June period on an underlying basis, excluding bulk closures of personal service companies. This was up from 4,213 in the first quarter and marked the largest total since early 2014.

Bankrupt German wind turbine manufacturer Senvion has sufficient financing to stay afloat until the end of August, Chief Executive Yves Rannou said at a townhall meeting, according to a person who attended the meeting, Reuters reported. The company is hoping to strike a deal to sell some of its assets but not the whole company by then, Rannou said at the meeting on Tuesday, adding that talks with staff would now start regarding units for which no buyer can be found, the source said.

A consortium of lenders, led by Syndicate Bank, is set to agree to a restructuring scheme for Reliance Infrastructure Ltd.’s Mumbai Metro project, two people in the know told BloombergQuint on condition of anonymity, BloombergQuint reported. The restructuring plan involves extending the tenure of the Rs 2,200 crore in outstanding loans by two years, the people quoted above said. In addition, lenders will likely agree to a cut in interest rates to around 9 percent from over 11 percent currently, which will help the metro project repay its dues on time, the people said.

Bolton Wanderers and Bury's opening League One (third-tier) fixtures could be suspended if they do not furnish evidence of their financial viability by 1600 GMT on Monday, the English Football League (EFL) has said, the International New York Times reported on a Reuters story. Bolton, who were relegated from the second-tier Championship last season, have been in administration since May while promoted Bury must provide the EFL with a viable plan to settle their debts after entering an "insolvency event".

The Bank of England is poised to become the outlier among big central banks, with UK policymakers favouring a “wait and see” approach as their US and European counterparts prepare fresh stimulus, the Financial Times reported. The US Federal Reserve is poised to cut interest rates this week, and the European Central Bank last week paved the way to cut rates and relaunch asset purchases in the face of persistently low inflation. But the UK’s monetary policy committee (MPC) is in an anomalous position.

Sterling plunged to 28-month lows on Monday and headed for its biggest daily fall against the dollar since November as investors scrambled to factor in the risk of a no-deal Brexit and the possibility of a snap election, the International New York Times reported on a Reuters story. A still-deeper fall in sterling remains on the cards; all metrics show that a disorderly British exit from the European Union is far from being fully priced in.