Argentex Group PLC announced Tuesday that Interim Chief Executive Officer Tim Rudman resigned and left the board on Monday, Investing.com reported. The foreign exchange services provider confirmed that its board has resolved to appoint administrators to the Company and certain other subsidiaries in the group. Argentex stated it will make further announcements regarding the administration process in due course. Read more.

Bank of England Governor Andrew Bailey said on Tuesday he did not agree with finance minister Rachel Reeves' description of regulation as a "boot on the neck of businesses" and he defended rules for the banking sector which are overseen by the BoE, Reuters reported. Bailey told lawmakers that the central bank was open to making changes to the detail of post-financial crisis financial regulation - such as income thresholds for approving mortgages - to help the government's economic growth push.

Britain's insolvent Lindsey oil refinery will close down after no buyers were found for the site, Energy Minister Michael Shanks said in a statement on Monday, Reuters reported. The refinery was placed into the hands of an official receiver after its owner Prax fell into insolvency at the end of last month. "After a thorough process to determine whether a sale was possible, no credible offers have been made to purchase the entire refinery, and it will be winding down operations," Shanks said.

Bank of England officials are mulling whether to set aside plans to create a digital pound for households amid growing skepticism about the project’s benefits, the latest sign of dwindling support for state-backed digital currencies globally, Bloomberg News reported. The BOE has been privately urging the banking industry to instead accelerate payment innovations that could result in similar benefits without the creation of a central bank digital currency — or CBDC — for consumers. Sources said that the central bank wants to be in a position to launch a CBDC if it is eventually warranted.

Russia’s construction sector faces a wave of bankruptcies by the end of next year as sky-high interest rates squeeze companies across the industry, the head of Russia’s largest construction holding warned Monday, the Moscow Times reported. Alexei Krapivin, CEO of the construction giant Natsproektstroy, told the RBC news website that the Central Bank’s 20% key interest rate is choking access to capital, leaving many firms unable to service debts or fund ongoing projects. “Every company, without exception, is feeling the impact of expensive capital,” Krapivin said.

The Bank of England has asked some lenders to test their resilience to potential U.S. dollar shocks, three sources said, the latest sign of how the Trump administration's policies are eroding trust in the U.S. as a bedrock of financial stability, Reuters reported. As the leading currency for global trade and capital flows, the U.S. dollar is the lifeblood of global finance. However, President Donald Trump's break from long-standing U.S.

A liquidator has been appointed over Killarney Brewing and Distilling (KBD) company in another blow to the Irish drinks sector, the Irish Times reported. James Anderson of Deloitte was appointed as the liquidator by the High Court on Monday. The move came after a disagreement between the Revenue Commissioners and the KBD about who would be appointed. KBD had sought for Mr Anderson, who was already the existing examiner for the business to be appointed as the liquidator over the company in a High Court hearing on Friday.

A group of dozens of companies pledged Monday to invest at least 631 billion euros ($733 billion) in Germany over the next three years, sending a signal of confidence in Europe's biggest economy as the new government tries to breathe new life into it, the Associated Press reported. The economy has shrunk for the past two years and is expected to stagnate this year. Chancellor Friedrich Merz's administration has made revitalizing it a top priority since it took office May 6.

The European Union agreed to impose its toughest sanctions on Russia since its large-scale invasion of Ukraine, blocking attempts to revive the Nord Stream gas pipelines, lowering a price cap for Russian oil sales and hitting banks from third countries in a move that could exacerbate tensions with China, the Wall Street Journal reported. The sanctions package comes as President Trump has started increasing pressure on the Kremlin after months of seeking a peace deal between Ukraine and Russia. The White House now appears closer to the European view that the Kremlin won’t end the war.