Britain's Pensions Regulator is to prosecute Dominic Chappell for failing to provide information and documents requested during an investigation into the sale of department store chain BHS to him by retail tycoon Philip Green, it said on Tuesday. Green sold the loss-making 180-store chain to Chappell's Retail Acquisitions Ltd vehicle for 1 pound ($1.28) in 2015. Chappell was a serial bankrupt with no retail experience, Reuters reported.

Lufthansa has received more German government support in its bid to take over substantial assets of insolvent rival Air Berlin, with German Economy Minister Brigitte Zypries saying she would welcome such a move, Reuters reported. "Lufthansa is already an aviation champion - its position can be strengthened further though," she was quoted saying by German daily Handelsblatt on Monday. However, a spokesman for the ministry later attempted to play down the remarks, saying it had no preferred bidder. Industry rivals have voiced concerns at the way the insolvency process is being handled.

The Co-operative Bank cleared has cleared one of the last remaining hurdles in its latest attempt to get back on its feet, The Independent reported. In reality, the result of the EGM to approve its £700m recapitalisation (it achieved 96 per cent support) was never really in doubt. Such votes aren’t held in the City if there’s a chance that they will be lost. The question now is whether the bank will now be able to move on from here and successfully re-establish itself as a small, but still viable, niche player able to hold its own in a competitive market.

Employers’ group Ibec has warned of imminent business closures in the wake of another significant slide in the value of sterling, the Irish Times reported. The Brexit-related collapse in the British currency has accelerated in recent days on the back of lacklustre economic data, heaping further pain on exporters here. On Friday, it was trading at just over 91 pence against the euro, having been at 77pence prior to the UK’s referendum on EU membership last year.

A Russian lender that provided banking services to a subsidiary of State-controlled Irish Bank Resolution Corporation has been shut down by regulators there due to its “highly-risky credit policy”, the Irish Times reported. Until earlier this week, the website of the IBRC’s Moscow subsidiary, LLC Solids, listed Sovereign Bank as its “partner bank” in Russia. However, in April 2016 the bank had its licence revoked by the Russian Central Bank due to “the real threat to the interests of creditors and depositors”.

Air Berlin has spoken with more than 10 parties interested in parts of the insolvent carrier and expects its assets will be divided up amongst two or three buyers, its chief executive told a German paper, Reuters reported. Talks began on Friday on carving up Air Berlin, which said on Tuesday it was filing for insolvency. German flag carrier Lufthansa was first in the queue for meetings, ahead of other potential bidders.

The euro fell to its lowest level of the month on Thursday after European Central Bank policymakers showed concern that its further rise could derail the region’s recovery, a view that could make the bank tread more carefully when starting to pare back its crisis-era support, the Financial Times reported. The single currency, which had hit a two-and-a-half year high against the dollar, fell to a low of $1.1661 in afternoon trading after the concerns were revealed in the minutes of the ECB’s latest interest rate-setting meeting. It rose back to about $1.173 later in the day.

The European Central Bank's policymakers are still concerned that inflation in the 19-nation eurozone is too low despite an improving economy and seem worried about the strength of the shared euro currency, their last meeting shows. The account of the July 20 meeting, published Thursday, shows the rate-setters noted that market investors seemed overly aggressive in thinking the bank would wind down its stimulus program soon, the International New York Times reported on an Associated Press story.

A first round of formal talks for the sale of insolvent German airline Air Berlin's assets will be held with its bigger local rival Lufthansa on Friday, ahead of other prospective bidders, a senior labour union official said. "Only Lufthansa will initially be part of the talks ... As far as I know, the other bidders will be invited for talks afterward and then an overall package will be put together," said Lufthansa's deputy chair Christine Behle, who represents labour union Verdi on the company's supervisory board.

Solarworld, a former stock market darling that became one of the biggest casualties of Germany’s ill-fated solar boom, has been resurrected from insolvency with the help of investors from Qatar, the Financial Times reported. The company has agreed to sell its key assets — including its two manufacturing plants in Germany — for about €100m to a Qatari-German joint venture set up by Frank Asbeck, the founder of Solarworld, and Qatar Solar Technologies. The new company, Solarworld Industries, was formally unveiled in Berlin on Thursday.