The government will pursue "every option" to keep steel-making in South Yorkshire, an industry minister said after Speciality Steel UK went into insolvency last month, BBC.com reported. Sarah Jones said she "very much believes" that the steelworks have a future in South Yorkshire as well as the West Midlands. In a statement to the House of Commons, Jones said that the government "stands with" all those affected and that there would be no immediate changes to jobs.

The euro zone economy kept expanding at a snail's pace in August as weaker services growth offset improved manufacturing output, despite the first rise in overall new orders since May last year, a survey showed on Wednesday, Reuters reported. The HCOB Eurozone Composite Purchasing Managers' Index (PMI), compiled by S&P Global, inched up to 51.0 in August from 50.9 in July, marking a 12-month high but still indicating only modest growth. The 50.0 threshold separates growth from contraction.

Chancellor Friedrich Merz offered Germany’s support for Switzerland in its bid to reduce the punishingly high trade levy US President Donald Trump imposed on the export-dependent nation last month, Bloomberg News reported. The 39% tariff Trump slapped on Switzerland is the highest for any developed country and officials in Bern are trying to persuade his administration to accept a new offer by October.

Poland’s central bank cut borrowing costs on Wednesday, lowering its benchmark rate by 25 basis points to 4.75%, matching forecasts, EuroNews.com reported. This came after inflation eased to 2.8% in August, marking the lowest level since summer 2024. The total is also dramatically lower than the peak of over 18% seen in 2023. The public sector deficit for this year has been revised up to 6.9% of GDP, from a previous 6.3%. In 2026, the budget creates a projected deficit of 6.5%, notably as Poland plans to spend more on defence.

European Union legislators should demand safeguards and robust equivalence regimes from foreign issuers of stablecoins to prevent the risk of runs on reserves held in the EU, European Central Bank President Christine Lagarde said on Wednesday, Reuters reported. The EU has put in place one of the world's strictest regimes on crypto assets, requiring that stablecoins, which are pegged to an official currency, be fully backed by reserves. But Lagarde said legislators should hold companies that issue stablecoins both in the EU and abroad to the same, high standards.

Britain’s borrowing costs have risen faster than any other G7 country in the wake of Sir Keir Starmer’s decision to reshuffle his team of economic advisers, The Telegraph reported. The yield on 30-year UK gilts – the return that investors demand from the Treasury to fund its debt – rose to a 27-year high of 5.64pc on Monday. The latest increase came after the Prime Minister appointed Darren Jones, who had been deputy to Rachel Reeves in the Treasury, as his Chief Secretary.

The U.K. exchequer is chasing about £90m in unpaid taxes after a temporary staffing business was rescued from insolvency proceedings in an £18m deal that reimbursed private funders in full, The Guardian reported. The main assets of Challenge Recruitment Group, which counted Tesco, Sainsbury’s and Co-op among its top customers, were acquired from administration in July by the US website swipejobs, in what appears to be the second time the British staffing business has emerged from insolvency while owing tens of millions of pounds to the exchequer.

U.S. risk advisory business Kroll has acquired Kirby Healy, a Dublin-based corporate insolvency practice, for an undisclosed sum, the Irish Times reported. The New York-headquartered company, which provides a range of services from valuation, compliance and regulation, said the move would deepen “Kroll’s footprint in Ireland” and was part of a broader growth strategy in Ireland, aimed at meeting increased demand. The acquisition increases the company’s Irish team to more than 70 employees and the number of restructuring experts it has in Dublin to 26.

Annual inflation picked up pace a little in the eurozone last month, cementing expectations that the European Central Bank will leave interest rates unchanged for a second-straight meeting next week, the Wall Street Journal reported. Consumer prices rose by 2.1% on year in August across the 20 nations that use the euro, European Union figures showed Tuesday. That marks an increase from the 2.0% rate of annual inflation booked in July. Core inflation, which strips out the more volatile shifts in the prices of energy and food, was unchanged at 2.3% on year last month.