Intrum AB, a Swedish debt collector, has announced the immediate departure of CEO Andres Rubio following the company's recapitalization and exit from U.S. chapter 11 bankruptcy proceedings, AIInvest.com reported. Rubio will be succeeded by CFO Johan Akerblom, who previously worked at Citadele Banka AS and SEB AB in Germany and the Baltics. Akerblom will now lead Intrum as it focuses on its commercial development strategy. Intrum AB provides payment solutions and credit and collection services in Europe and internationally, operating through the Servicing and Investing segments.

Growing numbers of Yorkshire business are experiencing financial strain as economic pressures mount, according to the UK’s biggest insolvency practitioner, YahooNews.com reported. Almost 46,000 firms across Yorkshire were experiencing ‘significant’ financial distress in the second quarter of this year, up 14.5 per cent on the previous quarter and 9.5 per cent on the same time last year, according to the latest Red Flag Alert research from Begbies Traynor.

The Leipzig-based tram manufacturer Heiterblick is currently grappling with significant challenges as it faces insolvency, The Munich Eye reported. Once aspiring to become the leading name in the streetcar manufacturing sector, the company now finds itself in a precarious situation. Earlier this year, the managing director of Heiterblick expressed optimism about the company's future, even seeking recognition as the Saxon Entrepreneur of the Year.

The Spanish economy gained a little pace in the three months through June, a sign of resilience for a eurozone facing a slowdown as higher U.S. tariffs bite, the Wall Street Journal reported. Gross domestic product grew 0.7% in the second quarter, accelerating a little from 0.6% in the first months of the year, the country’s statistics office said Tuesday. Spain was the wealthy world’s fastest-growing economy last year, and the International Monetary Fund expects it to keep leading the pack over 2025.

The European Central Bank is not in any hurry to lower borrowing costs again and it would take a major unexpected economic shift to make a case for action in September, Slovak policymaker Peter Kazimir said on Monday, Reuters reported. The ECB kept rates unchanged last week as widely expected and offered a moderately upbeat assessment on the bloc's economy, prompting investors to scale back their bets on further policy easing. "When it comes to incoming data, I don't expect anything significant to happen that would force my hand to act as soon as September," Kazimir said in a blog post.

Romania said on Monday a 15% U.S. import tariff on European goods would mean a small hit to central Europe's second-largest economy, while export-reliant Slovakia hailed the U.S. trade deal as a "good result," Reuters reported. Sunday's framework trade agreement between the United States and the European Union staved off the threat of a trade war, which has loomed over the region's economies, among the EU's most dependent on trade.

Ireland’s economy contracted in the three months through June following a first-quarter surge, and faces an uncertain future as U.S. tariffs rise, while the government plans to ramp up its investment spending, the Wall Street Journal reported. A surge in exports of pharmaceuticals to the U.S. led Ireland to far outstrip the growth rates of other rich economies in the three months through March, with gross domestic product expanding by 7.4%, the equivalent of an annualized rate of 33%. By contrast, the U.S. economy contracted over the same period.

Joseph Dresselhaus GmbH & Co KG has filed for self administration proceedings with the competent district court in Bielefeld to reorganise itself using the instruments of the Insolvency Code, Fastener & Fixing Magazine reported. The court granted the application and confirmed the provisional self administration, paving the way for a comprehensive restructuring of the Herford-based group of companies. Verlag INDat GmbH reports that this decision is based on the ongoing economic challenges facing Dresselhaus.

The Dutch arm of Taco Bell has been declared bankrupt, marking the fast food chain's second collapse in the Netherlands in less than a decade, RTL reports. Ten restaurants across the country, including in Amsterdam, Rotterdam, and The Hague, have been forced to close. However, the company said it remains committed to keeping the restaurants open. On Wednesday, the Rotterdam district court officially declared T Bello Nederland bankrupt. The company operated all Dutch Taco Bell locations under a franchise agreement with a British operator.

Rachel Reeves is considering overruling the Supreme Court if judges side with consumers over the £44bn car finance scandal, the Telegraph reported. Under plans being considered by the Chancellor, the Government could retrospectively alter the law to reduce the liabilities paid by lenders if the Supreme Court upholds a decision made by the Court of Appeal last October. Britain’s biggest banks could be forced to pay out £44bn in compensation to drivers after customers said they were unlawfully sold car loans.