Brazil's government has set aside for now plans for direct retaliation against steep U.S. tariffs taking effect this week, focusing instead on a relief package for industries hit hardest by the levies, Reuters reported. Wide-ranging exemptions granted in U.S. President Donald Trump's executive order last week spared some of the most vulnerable sectors of Latin America's largest economy, to the relief of many investors and business leaders.

The Swiss government announced on Monday that it is preparing a "more attractive offer" in its trade negotiations with the United States, in a bid to avoid high 39% US tariffs on its imports, which would severely damage the export-driven Swiss economy, EuroNews.com reported. In an official statement following an emergency government meeting, the Federal Council - the executive body of the Swiss government - confirmed its intention to continue talks with Washington, even after US President Donald Trump's 7 August deadline for the new tariffs to come into force.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil. He also said a "zero tariff" offer for imports of U.S. goods into India was not good enough, alleging that India was "fuelling the war" in Ukraine. Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.

Business activity in the euro zone grew at a slightly faster pace in July than in June but remained sluggish as demand dipped, a survey showed on Tuesday, Reuters reported. The HCOB Eurozone Composite Purchasing Managers' Index, compiled by S&P Global, edged up to 50.9 in July from 50.6 in June, just below a preliminary estimate of 51.0. July's reading marked a four-month high but was still below the survey's long-term average of 52.4, reflecting persistent weakness in the 20-country currency bloc.

Fast food chain Taco Bell may still get a new lease on life in the Netherlands. Curator Maarten Jansen is currently in talks with several potential buyers interested in taking over the bankrupt franchise operator of burritos, tacos, and quesadillas. “I hope to conclude these discussions by the end of next week,” Jansen told ANP on Friday. The ten Dutch Taco Bell locations, including in cities like Eindhoven, Rotterdam, and Utrecht, were operated by franchisee T Bello Netherlands. Two years ago, the company reported being profitable and announced plans to expand within the country.

The solar energy firm De Groene Energie Corridor (DGEC) is reportedly facing financial ruin and escalating legal pressure after a Dutch court ordered the removal of more than 78,000 solar panels near Schiphol Airport, citing a serious risk to flight safety caused by glare. DGEC has warned that full dismantling of the park, which includes nearly 230,000 panels, would force the company into bankruptcy, while Schiphol continues to push for complete removal and has asked the government to intervene, De Telegraaf reports.

Swiss annual inflation inched higher last month, though remained close to negative territory, suggesting the Swiss National Bank is still on course to push interest rates below zero later this year, the Wall Street Journal reported. Consumer prices were 0.2% higher in July than the same month of last year, compared with annual inflation of 0.1% in June, Switzerland’s statistics office said Monday. July’s data came after the U.S. last week slapped a shock 39% tariff on most imports of Swiss goods, a higher rate than had been signaled earlier by the Trump administration.

Germany’s “oldest and biggest” gay dance club has declared itself bankrupt after nearly half a century in business, falling victim to inflation and an evolving party culture threatening Berlin’s nightlife, The Guardian reported. Management troubles and dating apps were among the factors putting SchwuZ on the ropes last year and in May the club shortened its opening hours, laid off staff and asked regulars for help to plug a growing shortfall, to little avail. On Thursday, the management team posted on Instagram: “SchwuZ has filed for insolvency.