While the war in Ukraine’s east continues to rage four years on, the battle between Russia and Ukraine is returning to the calm and order of a London courtroom. There, British judges, unwilling to play diplomat, are this week set to rule on an appeal by Ukraine that it must repay part of a $3 billion bond in default, Bloomberg News reported. The Court of Appeal will rule on the case after Russia won an early verdict last spring in a lower court. The dispute “has multiple venues, and courtrooms are one of them," said Orysia Lutsevych, a research fellow at the Chatham House thinktank in London.

Bolton Wanderers have avoided administration after agreeing a deal to pay off their main creditor BluMarble Capital Ltd, club owner Ken Anderson said on Wednesday. Anderson had warned on Monday that the Championship outfit was facing the prospect of insolvency and a points penalty after an initial offer to repay the financial company was turned down, the International New York Times reported on a Reuters story. However, Anderson confirmed an agreement was reached and the club now has one of the lowest debt positions in the second division.

Italy’s industrial sector hit a rough patch in July with total industrial output decreasing 1.3 per cent on the year, the first decline since June 2016, according to new data released on Wednesday, the Financial Times reported. Economists polled by Reuters had expected output growth to remain stable, rising at 1.4 per cent. Monthly figures — which are often volatile — showed a 1.8 per cent decrease in output, far more than the 0.4 per cent dip forecast in a Thomson Reuters poll. Italy is not the only eurozone economy suffering a production slump.

It is said that generals often plan to fight the last war. Ten years on from the collapse of Lehman Brothers, many experts fear a new financial crisis, the Financial Times reported. In fact, the global financial system is much more robust than before 2008, but the global economy is still threatened by excessive debt. The financial crisis began because of dangerous features within the financial system itself. Massively leveraged investment banks engaged in socially useless trading of huge volumes of complex credit securities and derivatives.

Britain's aerospace trade body ADS has written to the European Commission for the second time in four months to urge it once again to allow British and European airline regulators to begin technical planning for Brexit. Aviation is one sector that could be most severely impacted by Brexit, as there is no default fallback option for the industry if there is no agreement on future relations after Britain leaves the EU in March 2019, the International New York Times reported on a Reuters story.

British department store retailer Debenhams said on Tuesday that while major store closures were an option, the company was not actively pursuing this route, the International New York Times reported on a Reuters story. Shares in Debenhams slumped on Monday after news that the remit of adviser KPMG had been widened to include consideration of a Company Voluntary Arrangement (CVA), which allows retailers to avoid insolvency or administration by offloading unwanted stores and securing reduced rents on others.

ING‘s chief financial officer has resigned after being singled out as responsible for the compliance failings that allowed companies to launder hundreds of millions of euros and pay bribes. Koos Timmermans, a 22-year veteran of ING, is the most senior executive to leave the Dutch bank over the money laundering affair, for which it has agreed to pay a record €775m in penalties to the country’s public prosecutor, the Financial Times reported.

Greece will meet primary surplus targets of 3.5 percent of GDP until 2022 as required by its creditors, but the policies to achieve that will be determined by the Greek government, Prime Minister Alexis Tsipras told the European Parliament on Tuesday. Greece exited the euro zone's bailout programme, under which it received cheap loans in exchange for reforms, in August after eight years of economic restructuring that was necessary when Athens lost market access in 2010 because of its huge debts, the International New York Times reported on a Reuters story.

Two of the most storied names in German department stores are combining in a deal orchestrated by an Austrian real estate billionaire, highlighting the pressures facing traditional retailers amid the rise of Amazon.com Inc. Karstadt, controlled by Rene Benko’s Signa Holding GmbH, agreed to take over Galeria Kaufhof, owned by Saks Fifth Avenue parent Hudson’s Bay Co., creating a retail company with 5.4 billion euros ($6.3 billion) in revenue, Bloomberg News reported. Benko has long wanted to merge the brands, having had an overture rejected as recently as February.

Troubled Debenhams has called in advisers to help save the chain, and is considering its options which include store closures and insolvency, The Sun reported. The embattled department store chain is fighting to keep its 240 stores open following a sharp fall in profits and tumbling share prices as consumers turn to online shopping. After issuing three profit warnings this year, the chain had already announced plans to cut up to 90 jobs at its headquarters and 320 store management jobs.