Yager, the German developer that was dropped from working on Dead Island 2, has filed for insolvency for the team that was working on the game, Breitbart News reported. Timo Ullmann, Yager CEO, said, “The insolvency filing is a direct result from the early termination of the project and helps protecting our staff. In the course of the proceedings, we gain time to sort out the best options for reorganizing this entity.” Ullmann did say that the Dead Island 2 team’s wages are safe for at least several months.

Investors issued a vote of no confidence in Greece’s economy on Monday, dumping stocks as trading on the Athens exchange resumed for the first time in five weeks, the International New York Times reported. A plunge of more than 16 percent for the main Greek index and a 30 percent sell-off for bank stocks were the latest signs of Greece’s shattered economy. But the resumption of trading was a necessary step as Greece tries to emerge from controls on financial activity that the government, confronted with a bank run, imposed at the end of June.

Bondholders of Ukraine’s third-biggest bank voted in favor of changing terms on $1.3 billion of debt as negotiations continue on restructuring a further $19 billion of sovereign securities, Bloomberg News reported. Creditors of the State Savings Bank of Ukraine, known as AT Oschadbank, agreed to push back maturity dates by seven years and increase coupons on two bonds and a subordinated loan, Chief Executive Officer Andriy Pyshnyi told reporters in Kiev on Monday. More than 90 percent of bondholders were in favor of the new terms.

Hundreds of thousands of mortgage holders are set to lose a key tax relief on their monthly repayments, the Irish Times reported. According to figures provided by Minister for Finance Michael Noonan, some 325,000 mortgage holders will lose the relief, which is €850 per annum on average, when it is phased out by the end of 2017. The relief on mortgage interest expired in 2009 for people who started paying their mortgage in 2003 or earlier, while those who took out a mortage between January 2004 and the end of december 2012 the entitlement for relief ends on December 31st, 2017.

Attention will be focused on Greece's embattled banks on Monday when the Athens stock exchange reopens after an absence of nearly a month because of the country's debt crisis, The Telegraph reported. The banks are in a vulnerable position owing to outflows of billions of euros (dollars) from deposits over the past six months. Some €40bn (£28bn) has been withdrawn from Greek banks since December according to the bank association.

Bankia will look to fortify its balance sheet in 2016 through the issuance of subordinated debt instruments including Additional Tier 1, signalling another step forward for the bailed-out Spanish lender, Reuters reported. "There is no urgency and I don't foresee issuing capital this year, but we could issue an Additional Tier 1 and further Tier 2 next year," said Lennart de Jong, funding director at the bank. While Bankia has already tapped the Tier 2 market as part of its comprehensive overhaul, it has not yet sold an AT1 bond - the riskiest type of bank debt.

British regulators said on Thursday that they had barred a former trader at the Dutch lender Rabobank from the securities industry after he pleaded guilty in the United States in March in connection with rigging a global benchmark interest rate, the International New York Times reported. The Financial Conduct Authority of Britain said the former trader, Lee Stewart, 52, had been barred from working in the British financial services industry for lacking “honesty and integrity.” The ban was put in place on July 21, the regulator said. In March, Mr.

The International Monetary Fund’s board has been told Athens’ high debt levels and poor record of implementing reforms disqualify Greece from a third IMF bailout of the country, raising new questions over whether the fund will join the EU’s latest financial rescue, the Financial Times reported. The determination, presented by IMF staff at a two-hour board meeting on Wednesday, means that while IMF staff will participate in bailout negotiations currently under way in Athens, the fund will not decide whether to agree a new programme for months — potentially into next year.

Long drawn-out negotiations between Ukraine and the major investors who own its debt are finally starting to thaw, The Wall Street Journal reported. After months of relative stalemate, a group of the conflict-torn country’s creditors has indicated it is willing to take a small reduction in the face value of Ukrainian bonds to speed up a debt restructuring process, according to two people close to the negotiations.

Major banks and brokers have failed to make sufficient internal changes following the Libor and foreign exchange rigging scandals, according to the City regulator, The Guardian reported. The Financial Conduct Authority also warned that more action was needed to restore trust in the financial markets after visiting 12 firms and brokers as a follow-up exercise to the fines imposed for rigging Libor, the benchmark exchange rate. The FCA found that none of them had made all the changes required to comply with guidelines for setting prices.