In the last year, 7,361 construction companies in the UK were identified as being in ‘critical’ distress – a more than 70 per cent rise on the previous year, ConstructionWave.co.uk reported. Meanwhile, firms experiencing ‘significant’ distress increased year-on-year to 103,551, up 14.6 per cent in Q3 of this year, rising 1.2 per cent since the last quarter. Perhaps unsurprisingly, most businesses in ‘significant’ distress were specialist firms – smaller sub-contractors and SMEs – whose numbers rose 23.5 per cent in Q3 to 6,799.

A union is urging the government to furlough workers at an oil refinery ahead of their final day, BBC.com reported. Staff at Lindsey Oil Refinery in North East Lincolnshire will say goodbye to 124 of their colleagues later, who have been made redundant after owner Prax Group went into administration and the site was taken over by the Official Receiver.

A bus operator providing services across Nottingham and Nottinghamshire has will continue trading after confirming it has entered a company voluntary arrangement (CVA), BBC.com reported. Community Transport for Nottingham (CT4N) announced last week it was looking to enter an insolvency process due to "challenging trading conditions". The decision was unanimously approved by voting creditors, and means 75 staff members will keep their jobs and services for commercial clients and local transport authorities will carry on.

The European Central Bank has been told to “accelerate” the process of developing the digital euro—a central bank digital currency, or CBDC—by the European Council, Decrypt.com reported. If the European Parliament passes the necessary regulations in 2026, then the digital euro will be piloted in 2027 and, if successful, formally rolled out across Europe in 2029. Christine Lagarde, president of the European Central Bank, announced via social media on Friday that the Governing Council is moving into the “next and final phase” of developing its CBDC.

The number of U.K. businesses in critical financial distress soared in the third quarter, reflecting tax increases, inflation and a challenging economic backdrop, according to a new study, the Wall Street Journal reported. The number of businesses in critical financial distress surged by 78% on year and by 13% on quarter to 55,530 companies, consultancy Begbies Traynor BEG 0.91%increase; green up pointing triangle said in its latest Red Flag Alert report on Thursday.

Polish battery manufacturer BMZ has announced the insolvency of two German subsidiaries: BMZ Germany GmbH and BMZ Holding GmbH, both headquartered in Karlstein am Main. As reported by the trade agency electrive, citing an official release by the company, both insolvency proceedings have been initiated under self-administration and were approved by the Aschaffenburg local court on October 24, Sustainable-Bus.com reported. In the bus business, BMZ is mainly know as the provider of NMC4 modules adopted by Daimler Buses on its eCitaro range (starting in 2026), as announced already in 2024.

The Frankfurt-based European Central Bank held its deposit facility rate at 2% on Thursday for the third consecutive meeting, EuroNews reported. The bank’s deposit rate remained unchanged for the third meeting in a row. Keeping rates in a steady holding pattern for a third meeting suggests the ECB believes inflation is largely under control after having fallen from double-digit highs triggered by post-pandemic supply shocks and the energy crisis following Russia’s invasion of Ukraine.

The eurozone economy grew more than expected in the three months through September as it adjusted to higher U.S. tariffs, and recent surveys show tentative signs of a German-led recovery as a tumultuous year draws to a close, the Wall Street Journal reported. Gross domestic product in the 20-nation eurozone increased 0.2% in the third quarter, compared with a 0.1% rise in the second, and a 0.6% jump in the first, European Union data agency Eurostat said Thursday. Annualized eurozone growth was 0.9%, from 0.5% in second quarter.

U.S. sanctions on Russian oil producer Rosneft have rekindled discussions in Germany about nationalising the company's business there, including a refinery that Berlin depends on for most of its fuel, two sources familiar with the talks told Reuters. The situation highlights the complex web linking Germany with Russia, which supplied Europe's industrial powerhouse with energy in the decades leading up to the war in Ukraine. The U.S. Treasury said on Wednesday it had issued a licence exempting Rosneft's German arm from the U.S.

The latest study conducted by Coface Romania shows that in the first 8 months of this year, 4,561 new insolvency proceedings were opened compared to 4,657 in the same period from 2024, RomaniaJournal.ro reported. Refused payment instruments continued to increase in the first eight months of 2025 by 10% in number and 21% in value compared to to 2024. The wholesale and retail trade/repair of motor vehicles and motorcycles sector reported the highest number of insolvencies, namely 1,131.