Spanish black olive exporters have called on the EU to hit back at steep tariffs imposed under U.S. President Donald Trump, using powers authorised last week by the World Trade Organization, Reuters reported. On Wednesday, a WTO arbitrator issued a decision that allowed the EU to take countermeasures worth up to $13.64 million a year in the long-running dispute over ripe olives. It also opened the way for the EU to get WTO clearance to retaliate further if Washington imposes countervailing duties in the future.

The number of corporate bankruptcies in Switzerland has reached a record level, Blue News reported. According to a recent analysis by Dun & Bradstreet, 6,274 insolvency proceedings have been opened since the beginning of the year, an increase of 40 percent compared to the previous year. Parallel to the bankruptcies, the number of newly founded companies rose by 4 percent. In addition to the challenging macroeconomic environment, the increase in insolvencies is related to a change in the Debt Enforcement and Bankruptcy Act (SchKG), which came into force on Jan. 1, 2025.

Amid challenging conditions in the local food industry, Utrecht-based startup Lokalist has been declared bankrupt, ceasing its operations after a five-year journey, Cointurk Finance reported. Known for its innovative approach in directly linking farmers and producers to consumers, Lokalist had initially gained traction for promoting a shorter food supply chain. Despite its efforts to create a fairer system for farmers and a closer connection to customers, the company faced insurmountable hurdles, culminating in Tuesday’s bankruptcy declaration by the Midden Nederland District Court.