There were 1,175 Scottish corporate insolvencies in the year 2024-2025 - a slight increase of 0.6% from 2023-2024’s figure of 1,168 - and up 3.8% on 2022-2023’s figure of 1,132, Insider.co.uk reported. The latest Accountancy in Bankruptcy report showed that there were 294 corporate insolvencies in the fourth quarter, compared with 301 during the same period in 2023-24 - a decrease of 2.3%. There were 128 voluntary liquidations in in the fourth quarter, up by a third from 96 year-on-year.

Rachel Reeves is to follow Donald Trump in closing a tax loophole exploited by Chinese online giants Shein and Temu as she seeks a US trade deal, The Telegraph reported. The Chancellor is preparing to change a statute in the UK tax code, known as the de minimis rule, which means products worth less than £135 are exempt from UK import duties. The decision comes after the US and EU both moved to scrap it following a flood of cheap Chinese goods undercutting local businesses.

Reducing uncertainty is urgent for economies and businesses, German Finance Minister Joerg Kukies said on Wednesday, talking about negotiations on trade tariffs with the United States, Reuters reported. "The longer we wait for an agreement, the longer we let the uncertainty (in) both of our economies linger," he said at the Semafor World Economy Summit in Washington. Germany was the only member of the Group of Seven advanced economies that failed to grow for the last two years, and the tariffs announced by U.S.

European Central Bank President Christine Lagarde said on Wednesday U.S. tariffs could have a disinflationary impact in Europe if there are no European countermeasures but they prompt China to reroute exports to the region, Reuters reported. U.S. President Donald Trump ratcheted up tariffs on Chinese imports this month, raising them effectively to 145% when levies imposed earlier this year are taken into account.

Cryptocurrency campaigners have stepped up calls for the Swiss National Bank to buy bitcoin, saying that the global economic turmoil triggered by U.S. President Donald Trump's tariffs made it more important for the central bank to diversify its reserves, Reuters reported. Supporters launched a referendum campaign in December to change the Swiss constitution to require the SNB holds bitcoin in its reserves alongside gold.

CPU cooler maker Scythe may be in deep trouble, as reports suggest the company’s EU division is potentially on the verge of shutting down, TomsHardware.com reported. According to German tech portal Computer Base, CPU coolers from the manufacturer have been in short supply. The primary reason given is that the company's EU division has run out of money and filed for insolvency. As noted by the Consumer Protection Forum, on April 17, 2025, the district court in Reinbek, Germany, issued a "provisional insolvency administration" for Scythe EU GmbH.

Business activity in Germany's private sector has contracted this month, hurt by service sector woes and trade-related uncertainty, although manufacturers are showing some resilience, a survey showed on Wednesday, Reuters reported. The HCOB German flash composite Purchasing Managers' Index, compiled by S&P Global, fell to 49.7 in April from 51.3 in March, its lowest point since December and back below the 50.0 threshold that separates growth from contraction.

Laszlo Bige, the owner of Hungarian fertilizer maker Nitrogenmuvek Zrt, ruled out using tangible assets as collateral in a standoff with creditors over extending a looming maturity date for its bonds, Bloomberg News reported. Talks between Nitrogenmuvek and holders of around 70% of the €200 million ($228 million) of bonds due in mid-May concluded last week with no deal. The creditor group had asked for tangible assets to be posted as collateral, as well as some sort of contribution from shareholders as part of the refinancing, Bloomberg reported.

A leading care association in the west is warning some residential homes may go under due to rising costs such as National Insurance (NI) and the national living wage, BBC.com reported. David Smallacombe, chief executive of not-for-profit organisation Care and Support West, says many care home operators will be forced to raise prices for vulnerable residents. He is calling on the government to exempt social care providers from the NI hike, as it already has for the public sector and NHS.