The scene looked hopeful at first glance. A social media post by President Karin Keller-Sutter of Switzerland showed her smiling and shaking hands with Secretary of State Marco Rubio in Washington on Wednesday, at a hastily arranged meeting after President Trump had blindsided Switzerland with a punishingly high tariff, the New York Times reported. “We discussed bilateral cooperation, the tariff situation and international issues,” Ms. Keller-Sutter said of the meeting with Mr. Rubio. But what she didn’t have was a trade deal.

Germany’s goods exports to the U.S. slid further in June, as the impact of tariffs on the country’s export-oriented economy continued to bite, while industrial production also took an unexpectedly strong hit, the Wall Street Journal reported. Exports from Europe’s largest economy to the U.S. slid 2.1% to 11.8 billion euros ($13.76 billion), the third consecutive monthly decrease to the lowest value since February 2022, according to adjusted figures published by Germany’s statistics agency Destatis on Thursday. They were 8.4% lower than the same month last year.

Ireland’s factory output fell sharply in June as exports to the U.S. halved, helping to push the economy into contraction after a first-quarter boom, the Wall Street Journal reported. The country’s Central Statistics Office on Friday said manufacturing output was 12.0% lower than in May, having risen sharply in that earlier month. Over the three months through June, output was 2.1% lower than in the first quarter. Ireland’s manufacturing output surged in the first three months of the year as exports of pharmaceuticals to the U.S. jumped. That jump was driven by U.S.

U.S. battery startup Lyten has agreed to buy most of bankrupt Swedish battery maker Northvolt, it said on Thursday, potentially offering a way back for the European company that was once seen as the region's answer to rivals in Asia, Reuters reported. Lyten, a Silicon Valley battery startup developing lithium-sulphur cells as a cleaner alternative to lithium-ion, is backed by Jeep-owner Stellantis and U.S. delivery services provider FedEx.

As its American parent files for bankruptcy, there are concerns that the UK arm of budget jewellery and accessories retailer Claire’s may struggle to find a buyer, raising the prospect of further job losses in a British retail sector already under pressure, FashionNetwork.com reported. A report by Sky News said the news organisation “has learnt that advisers to Claire's Inc… are not expected to land a solvent bid for its UK chain”. The British operation trades from around 300 British stores and the Europe-wide workforce (including the UK) numbers around 5,000.

Britain's Financial Conduct Authority (FCA) said on Thursday it would roll out stricter rules for electronic payment firms from May 2026 to better safeguard customers' money, Reuters reported. The regulator, which first laid out proposed reforms for payment firms in September, said companies would be required to keep customer money separate from their own funds, so that it could be returned if the firm fails. The payments sector has come under greater scrutiny as more consumers have become exposed to the risk of poor safeguarding.

Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged, FashionNetwork.com reported. Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating business.

The Esports Advocate has learned that Berlin-based esports data firm Bayes Esports Solutions GmbH was put under administration and filed for insolvency in late May (case no. 3602 IN 3585/25),ESportsAdvocate.net reported. On Aug. 1, the Charlottenburg district court in Berlin determined that Bayes is both illiquid and over-indebted, triggering a main insolvency proceeding (Hauptinsolvenzverfahren) in accordance with EU Regulation 2015/848. The court received the insolvency filing on May 26. Berlin-based attorney Dr.

German antenna technology company Kathrein Broadcast has emerged from a period of financial uncertainty with the backing of a new investor consortium, BroadbandTVNews.com reported. Lenbach Capital, a Munich-based investment firm, will secure the long-term continuation of operations, according to the company. Financial details of the transaction were not disclosed. The deal lays the groundwork for the conclusion of the insolvency proceedings that were initiated in March 2025.

German industrial orders unexpectedly fell in June, declining for a second straight month, due to falling demand from abroad, a trend that looks set to continue due to increased tariffs on exports to the United States, data showed on Wednesday, Reuters reported. Orders were down by 1% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said. Foreign orders fell 3.0% on the month, while domestic ones rose 2.2%. Those from outside the euro zone dropped 7.8%, while inside the euro zone, they grew by 5.2%.