Struggling flooring retailer Carpetright has posted a £71m annual loss and warned that trading continues to be difficult, prompting further falls in its share price, the Financial Times reported. The company on Tuesday said that “adverse publicity” about its restructuring had affected both suppliers, which had responded by tightening the terms on which they would extend credit for purchases, and customers.

Eurogroup President Mario Centeno will seek a mandate to define the process of sovereign public debt restructuring, New Europe reported. His announcement came after the publication of a letter addressed to European Council President Donald Tusk ahead of the EU Summit on June 28-29. In making the announcement, Centeno proposed a restructuring process based on new issuance of single-limb Collective Action Clauses to prevent holdouts, Reuters reported. The two most indebted governments in the Eurozone are Greece, with a 178% debt to GDP ratio, followed by Italy with a 130% debt to GDP.

Vodafone's Ghana business plans to list on the local stock market after restructuring its loans, the head of the local unit told Reuters on Tuesday. Yolanda Zoleka Cuba said Vodafone was in talks with the West African country, which owns a 30 percent stake, to restructure its debt, the International New York Times reported on a Reuters story. The world's largest mobile group by revenue paid $900 million for a 70 percent stake in state-run Ghana telecom in 2008 while the government retained the remaining 30 percent with an enterprise value of around $1.3 billion at the time.

Moody’s has given its cautious blessing to the historic Greek debt relief deal hammered out in Luxembourg last week, the Financial Times reported. The eurozone agreement gave the southern European country “significant further debt relief that ensures the Greek government has very moderate refinancing needs for the next 10 years”, the rating agency said, marking a shift in position from the more sceptical stance taken on previous plans to cut Greece’s debt burden.

The French financial regulator has said it will not seek changes to “delegation” rules — a move that could have restricted UK fund managers serving overseas clients after Brexit, the Financial Times reported. Current rules permit asset management companies to operate in multiple locations, including London, and the City has become a global centre of portfolio management. It had been feared, however, that UK managers could be cut off from European clients if national regulators sought stricter regulation.

The head of the Eurogroup of euro zone finance ministers said on Monday that he would seek guidance from European Union leaders on Friday on measures to facilitate euro zone public debt restructuring, a possibility one economist dubbed a "bombshell,” the International New York Times reported on a Reuters story. The move is based on a joint proposal put forward last week by Germany and France, aimed at making it easier to restructure debt. The two most indebted governments in the euro zone are now Greece and Italy -- both above 130 percent of GDP.

Countrywide, the UK’s largest estate agency group, plans to tap investors for fresh funds to reduce debt after issuing a fresh profit warning as it struggles with a lacklustre property market and a botched 2015 restructuring, the Financial Times reported. Shares in the company plunged as much as 28 per cent to 57.5p in response to the fundraising plans and profit warning. Countrywide has struggled as nervous sellers have held off on listing properties amid stalling price growth in the housing market. Wider political and economic uncertainties have also undermined the market.

The International Monetary Fund (IMF) chief Christine Lagarde used her meeting today in Ireland with Taoiseach Leo Varadkar to warn that although “the sun is shining on the Irish economy” it is time for the eurozone to “fix the roof" as the IMF prepares for a climbdown on growth forecasts, Express.co.uk reported. Mrs Lagarde, visiting Dublin to mark 20 years since the adoption of the euro currency, was eager to champion the manner by which Ireland came out of the EU-IMF bailout in December 2013 following the eurozone’s sovereign debt crisis.

Former Carillion directors could be forced to contribute to the collapsed contractor’s pension scheme after the pensions watchdog confirmed it is investigating whether it has the power to do so, the Financial Times reported. The move by the Pensions Regulator came after MPs on the work and pensions committee on Monday urged the watchdog to go after Carillion’s former directors “for everything they’ve got”.

Deutsche Bank AG had the outlook for its credit rating lowered to negative from stable by Fitch Ratings, which cited risks tied to the German lender’s turnaround plan, Bloomberg News reported. The move “reflects the substantial execution risk Deutsche Bank faces in implementing its restructuring and Fitch’s view that failure to strengthen its business model would result in the bank’s downgrade,” the rating company said in a statement late Thursday. It confirmed the lender’s BBB+ long-term issuer default rating and all other debt ratings.