Euro zone business activity accelerated faster than forecast this month, supported by a solid improvement in the bloc's dominant services industry and with manufacturing showing further signs of recovery, a survey showed on Thursday, Reuters reported. HCOB's preliminary composite euro zone Purchasing Managers' Index, compiled by S&P Global and seen as a good guide to growth, rose to an 11-month high of 51.0 points from 50.6 in June. For the first time in over a year, overall demand did not decline, though there was no expansion.

Hungary's populist prime minister has spent years building a close political relationship with U.S. President Donald Trump and aligning himself with the MAGA movement, the Associated Press reported. But despite Viktor Orbán's success in gaining favor with the culturally conservative and nationalist wing of Trump's administration, his country is poised to be among those hard hit by Trump's tariffs against the European Union. Trump earlier this month announced he would levy tariffs of 30% against Mexico and the EU beginning Aug.

Corporate liquidations and receiverships in Scotland during the first quarter increased by 17.3% year-on-year, to a total of 332, Insider.co.uk reported. The new figures from Scotland's insolvency service Accountant in Bankruptcy also showed that this first quarter figure was up by 12.9%, compared with the previous quarter’s total of 294.

Mike Lynch’s estate looks likely to be wiped out after a High Court judge ordered it to pay more than £700 million in damages to Hewlett Packard Enterprise in one of the UK’s biggest corporate fraud cases, The Times reported. Mr Justice Hildyard ruled in 2022 that Lynch had defrauded Hewlett Packard Enterprise (HPE) over the US tech giant’s $11.7 billion (£8.7 billion) acquisition of his business software company, Autonomy, in 2011.

Balmanno House, a registered charity located in the West End of Glasgow which had been providing residential care for over 200 years, was placed in administration in April 2023, Scottish Financial News reported. The joint administrators continued to trade the business for a short period to ensure an orderly relocation of residents to alternative care. Following a considerable level of interest the property was sold to RSD Property Holdings Limited for residential development for an undisclosed sum.

The insolvency of Ardian-backed mountain biking company YT Industries highlights the escalating challenges facing the global biking industry, driven by a confluence of tariffs, post-pandemic market shifts, and overreliance on private equity-driven growth, according to a CoinWorld analysis. Founded in Germany, YT Industries had emerged as a standout brand during the 2020–2022 outdoor gear boom, leveraging high-profile partnerships, free beer-laden showrooms, and aggressive marketing to capture market share.

Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments, according to a press release. The figures form part of the agency’s Annual Report and Accounts 2024-25: Insolvency Service Annual Report and Accounts 2024-2025 - GOV.UK.

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.