It’s only four months since the UK and Ireland operations of Claire’s was bought out of administration but the business was back there as of Monday, FashionNetwork.com reported. First reported by Sky News, it seems insolvency practitioners from Kroll are handling the process with over a thousand high street jobs at risk. That comes after a significant number of jobs had previously been cut on its insolvency filing last autumn.

German language teaching group Carl Duisberg Centren will cease trading and close all of its centres this week after a period of administration has failed to rescue the company, StudyTravel Magazine reported. Carl Duisberg Centren (CDC) was established in 1962 and operates as a non-profit organisation with six schools across Germany and a portfolio of adult programmes including intensive German, exam preparation and university preparation, as well as summer camps for juniors.

Europe's economy risks falling further behind other regions unless the European ‌Union overhauls regulation that is undermining banks' ability to lend, the European Banking Federation has warned, Reuters reported. The current situation was "neither satisfactory, nor sustainable," the industry group said in a letter addressed to European Commission officials including President Ursula von der Leyen.

India plans to slash tariffs on cars imported from the European Union to 40% from as high as 110%, sources said, in the biggest opening yet of the country's vast market as the two sides close in on a free trade pact that could come as early as Tuesday, Reuters reported. Prime Minister Narendra Modi's government has agreed to immediately reduce the tax on a limited number of cars from the 27-nation bloc with an import price of more than 15,000 euros ($17,739), two sources briefed on the talks told Reuters.

U.K. government borrowing costs have fallen after Sir Keir Starmer blocked leadership rival Andy Burnham from standing as an MP, The Telegraph reported. The yield on benchmark 10-year gilts, as U.K. government bonds are known, fell as low as 4.47pc early on Monday, compared to a high of 4.51pc on Friday in the wake of the Gorton and Denton by-election announcement. Labour’s ruling National Executive Committee (NEC) blocked Mr Burnham from standing in the by-election by eight votes to one on Sunday, quashing an imminent threat to the Prime Minister’s leadership.

Germany's net borrowing in 2025 came in well below the level set out in its budget plan, helped by lower-than-expected spending and higher-than-expected revenues, the finance ministry said on Friday, Reuters reported. This was the nation's first annual budget since sweeping reforms to loosen fiscal rules were passed in March last year, securing record investments to revive the economy while committing to an increase in defence spending.

Gravaa, the company behind an innovative on-board tire inflator, has declared bankruptcy, citing low sales during the current challenging market conditions for the bicycle industry, PinkBike reported. The Dutch company's product utilized a hub-based pump that can inflate or deflate the tires repeatedly via a tube connecting the pump to the valve.

A council has approved a decision to write off more than £100,000 of "unrecoverable" debt, BBC.com reported. Members of South Holland District Council's cabinet heard at a meeting on Tuesday there was a total of £114,957.44 uncollectable debt, made up of both council tax and business rates. Councillor Paul Regdate, the portfolio holder for finance, said there was "no realistic prospect of recovery" and the council had "exhausted" enforcement options. The councillor said over half of the debt related to insolvency cases.

Russia’s defense institute NIISSU is in severe financial distress even as it continues work on “Sword,” a sophisticated command-and-control system for China’s People’s Liberation Army, United24 Media reported. NIISSU is one of the key enterprises in Russia’s military-industrial complex, specializing in automated command-and-control systems. Its developments are used in several countries allied with Russia. The institute’s most well-known project is the so-called “Sword,” which drew widespread attention after a major leak of internal documents online last year.