Russian metals giant Rusal will overhaul its board and management in hopes of persuading the United States to lift sanctions but it may be forced to halt aluminium exports for good if the plan fails, sources close to the company said. Washington this month imposed sanctions on billionaire Oleg Deripaska and several companies in which he is a large shareholder, including Rusal, in response to what the United States called Russia’s “malign activities,” Reuters reported.

As the European Union braces for political battles over its post-Brexit budget, a farm in the poorest member country shows what’s at stake. AJD Agro Ltd., a Bulgarian grain producer and exporter, owes its existence to European agricultural aid, Bloomberg News reported. That support now faces the threat of cuts as the EU seeks to fill a Brexit-induced budget hole and ramp up spending on security in a much-anticipated proposal due on May 2. The company was losing money until the first EU payment arrived in 2008, a year after Bulgaria joined the bloc.

Europe may be about to let Greece out of the financial doghouse, yet the wrangling is set to escalate over the terms and conditions. Finance ministers from the euro region meet in Sofia on Friday for talks on easing repayment terms on Greek bailout loans, Bloomberg News reported. While Germany is indicating it may take less of a hard line, there are persistent differences among nations and the International Monetary Fund over how much leeway to give and how much supervision should continue.

The euro touched a three-month low against the dollar and eurozone government bonds rose as the latest European Central Bank policy meeting offered few reasons to turn bullish on the region’s economy. Mario Draghi, ECB president, acknowledged that the pace of the eurozone recovery had moderated, but announced no changes to monetary policy or guidance, the Financial Times reported. “Mr Draghi repeatedly used ‘caution’ to describe the ECB’s attitude to monetary policy at the April press conference,” noted Luigi Speranza, head of European economics at BNP Paribas.

Polish debt collector GetBack has so far failed to redeem bonds worth $25 million (18 million pounds), it said on Thursday, augmenting worries about the remaining $719 million worth of bonds of a firm that only last year used to be a darling of capital markets, the International New York Times reported on a Reuters story. The sudden crash of the bonds and shares of GetBack has taken investors, analysts and regulators by surprise, weighing on share prices of other listed firms. The ratings agency Fitch cut its rating for GetBack's debt to 'restricted default' on Thursday.

The sale of Italy's struggling carrier Alitalia has been further delayed because of continued political uncertainty following March's inconclusive elections, the industry minister said on Thursday. The out-going centre-left government had hoped to complete a sale by the end of this month, but Carlo Calenda told reporters Rome now expected to finish the process by the end of October, the International New York Times reported on a Reuters story. The government also put back the deadline for repayment of a 900-million-euro (784 million pounds) bridge loan to Dec. 15.

Businessman Seán Dunne “misled” his Irish bankruptcy official and was “as obstructive as he could possibly be” in response to questions about dealings with a Dublin 4 property, the High Court has been told. Mark Sanfey SC, for official assignee Chris Lehane, who is administering his bankruptcy here, said Mr Dunne gave certain answers to questions during a June 2016 interview with Mr Lehane which amounted to “clear” non-co-operation, the Irish Times reported.

The eurozone economy has been a puzzle lately. Some indicators are pointing up, some down and some sideways. It’s hard to know whether growth is losing momentum or just pausing for breath, the International New York Times reported. Some clarity could come Thursday from the eurozone’s most influential economist: Mario Draghi, the president of the European Central Bank. Mr. Draghi’s view of the economy — and what that means for monetary policy — will be one of the main themes when he holds a news conference after a meeting of the bank’s Governing Council. If Mr.

Administrators for collapsed UK brokerage Beaufort Securities have defended their plans to use customer funds to cover the cost of the insolvency proceedings, in the face of an angry backlash, the Financial Times reported. Beaufort was shut by UK regulators in March, just hours before the US Department of Justice brought criminal charges against the company for its alleged involvement in securities fraud and money laundering.

The wife of former Anglo Irish Bank chairman Sean Fitzpatrick is claiming some € 40 million investments he had were mostly funded from loan accounts in their joint names before he was declared bankrupt in 2010, the High Court heard. Catriona Fitzpatrick, Whitshed Road, Greystones, Co Wicklow, says that under family law she has a beneficial interest in these investments regardless of the bankruptcy, the Irish Times reported. The court heard some € 45million was realised from the sale of those assets.