The liquidators of the former Anglo Irish Bank are “flouting the duties imposed on them” and have “harmed and continue to harm” developer Paddy McKillen and his company Clarendon Properties, new US court documents allege.

Cerberus Capital Management LP made a joint offer with Banca Ifis SpA to buy most of the 6 billion euros ($7 billion) of Italian bad loans being sold by Credit Agricole SA, according to people with knowledge of the matter. The pair submitted a bid for a package nominally valued at 4.3 billion euros, said the people, who asked not to be identified as the transaction isn’t public, Bloomberg News reported.

Even if he wins the battle for control of Ellaktor SA, Leonidas Bobolas plans to make way for new leadership at Greece’s biggest construction company, Bloomberg News reported. Bobolas hopes his move will help to end a bitter internal dispute over how to revive the firm that’s lost millions of euros in recent years and seen its share performance lag behind peers. Ellaktor’s chairman Anastasios Kallitsantsis quit last month to launch a campaign to replace top management, but Bobolas says the company had already hired consultants to reorganize its governance structure when that happened.

Europe still has to build up its war chest to keep failing banks from cratering the economy, Bloomberg News reported. Weeks after agreeing on steps to shore up the currency union, politicians received a reminder that the arsenal to handle banks in trouble remains incomplete without the power to provide hundreds of billions of euros in emergency cash. Elke Koenig, head of the euro area’s bank-failure agency, said that even a new arrangement that doubles the firepower of her institution’s crisis fund may not be enough to return a failed bank to the market.

European Affairs Minister Paolo Savona proposed on Monday that Italy should boost investments by about 50 billion euros (£43.79 billion) and called on the EU to back the plan instead of insisting on deficit reduction, the International New York Times reported on a Reuters story. In an interview with daily La Verita, Savona said Italy should be allowed to spend the equivalent of this year's estimated current account surplus, around 2.7 percent of gross domestic product, on new investments to raise economic growth.

The International Monetary Fund (IMF) has warned Eurozone growth could be derailed by escalating trade wars and the threat of more tariffs on goods from the US, Express reported. The fund said it had cut its 2018 growth forecasts for Eurozone countries, including Britain, because of softer-than-expected first quarter performance coupled with tighter financial conditions due to political uncertainty. It has now reduced the Eurozone’s growth forecast for this year from 2.4 percent to 2.2 percent, with Britain cut to 1.4 percent from 1.6 percent.

The liquidators of the former Anglo Irish Bank are “flouting the duties imposed on them” and have “harmed and continue to harm” developer Paddy McKillen and his company Clarendon Properties, new US court documents allege.

Over a quarter of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research, Business Matters reported. The research found the financial impact of the insolvency of another business was described as “very negative” by one in ten UK companies, and as “somewhat negative” by 16 per cent of respondents. The figures are evidence of the so-called ‘domino effect’, where one company’s insolvency will increase the insolvency risk for others.

Administrators for SCL Elections, an affiliate of Cambridge Analytica, attempted to sell the company but only received four proposals, including an offer for £1 for the scandal ridden data firm’s brand name, according to a corporate filing on Saturday. Cambridge Analytica, SCL Elections and several other related companies in May began Chapter 7 bankruptcy proceedings in the US and filed for insolvency in the UK after the fallout from revelations about Cambridge Analytica’s role in a massive leak of Facebook data, the Financial Times reported.

EU regulators have approved Irish airline Ryanair’s planned purchase of 75 per cent of Laudamotion, the Austrian carrier founded by triple Formula One champion, Niki Lauda. Ryanair pledged last February to invest €100 million in Laudamotion and took a 24.9 per cent stake in the business, which it said would increase to 75 per cent once it got European Commission approval, the Irish Times reported. Brussels unconditionally approved the deal on Thursday. “The commission concluded that the transaction would raise no competition concerns in the European Economic Area,” a statement said.