Ukraine has incurred a sovereign credit default after electing not to make payments owed Monday to holders of $2.6 billion of its debt securities, WSJ Pro Bankruptcy reported.

The number of bankruptcies filed in Finland rose for the fourth consecutive year, with 333 filings recorded in April 2025, according to data from Statistics Finland. The figure is 38 higher than in April 2024, the Helsinki Times reported. The construction industry recorded the sharpest rise, with 87 companies filed for bankruptcy. Those firms accounted for 299 full-time equivalent jobs now under threat. The second most affected sector was services, which includes areas such as finance, real estate, education, and entertainment.

The number of bankruptcies in Sweden continues to tick higher as the uncertainty surrounding tariffs weighs on consumers’ willingness to spend, Bloomberg News reported. In May, 906 limited liability companies were declared bankrupt, up 3% from the same month a year ago, according to data compiled by credit reference agency Creditsafe i Sverige AB. The year-to-date figure of 4,616 bankruptcies is on par with last year’s tally. Read more.

Swiss solar panel maker Meyer Burger filed for insolvency for its German subsidiaries, the company said in a statement on Saturday, Reuters reported. Meyer Burger's German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, have initiated insolvency proceedings, the company said. Efforts to keep the German sites open will be continued as part of the proceedings together with a provisional insolvency administrator to be appointed by the court.

Three community centres are to be handed back to a city council after the charity running them announced it was folding, BBC.com reported. The Newcastle Community Asset Trust (NCAT) managed community hubs in Fawdon, Cowgate, and Blakelaw, with the latter also housing a post office which had to temporarily close. The charity blamed rising costs, reduced funding and the long-term impacts of the Covid-19 pandemic for its "painful" decision. Newcastle City Council confirmed all three centres would remain open and "accessible to tenants and residents as normal".

The downturn in euro zone manufacturing eased further in May, coming close to stabilisation as production increased for the third consecutive month and supported by a near-stabilisation in demand, a survey showed on Monday, Reuters reported. The HCOB Eurozone Manufacturing Purchasing Managers' Index rose to 49.4 in May from 49.0 in April, marking a 33-month high and in line with a preliminary estimate but remaining below the 50.0 threshold separating growth from contraction.

One of Microsoft Corp's subsidiaries in Russia plans to file for bankruptcy, according to a note published on the official Fedresurs registry on Friday, Reuters reported. President Vladimir Putin said this week that foreign service providers like Microsoft and Zoom should be "throttled" in Russia to make way for domestic software solutions. Microsoft continued providing key services in Russia after Moscow's February 2022 invasion of Ukraine, but in June 2022 it said it was significantly scaling down its operations due to changes to the economic outlook and the impact on its business there.

Price rises in the eurozone’s top economies cooled this month, putting the European Central Bank on course to reach its inflation target and cementing expectations that it will deliver an eighth rate cut at its meeting next week, the Wall Street Journal reported. Consumer prices in Germany, the eurozone’s largest economy, were 2.1% higher in May than a year earlier, down from the 2.2% rate of inflation recorded in April, according to EU-harmonized data published by its statistics agency Destatis on Friday.

Slovenia, Romania, and Croatia were among the countries in Central and Eastern Europe (CEE) to face rising insolvency rates in 2024, despite the economic recovery in the region, global credit insurer Coface said, SeeNews.com reported. In Slovenia, the total number of insolvency proceedings rose by 32.4% year-on-year in 2024, reaching 769 cases. The largest share came from the construction sector (29.26%), followed by business and personal services (22.63%), while the financial sector accounted for the smallest portion (0.91%).

Techtex, a company specializing in the production of technical textiles, mainly personal protective equipment (face masks, Dr. Albert brand), part of the IKEA supplier Taparo Group (also in dire financial conditions), has entered insolvency, according to Ziarul Financiar, Romania-Insider.com reported. The face mask factory was developed by the Taparo Group during the 2020 pandemic, with EUR 20 million in funding from state bank Eximbank and guidance from banker Dan Pascariu.