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On October 30, the Moscow Arbitration Court extended the bankruptcy procedure of Radio Liberty (RFE/RL, the media corporation is recognized in Russia as a foreign agent and an undesirable organization, LLC is its Russian legal entity) until June 30, 2025, Oreanda News reported. In the definition on the court's website, the specific date of the next report of the bankruptcy trustee of RCE/RS LLC, Yulia Aga-Kulieva, is not indicated.
One of the most popular electric bicycle manufacturing companies in the Netherlands, Stella, has requested protection from its creditors as the business is struggling financially, the Financeele Dagblad reported on Tuesday, according to the NL Times. The fate of the company’s 440 employees and 50 retail outlets is now up in the air. The move to defer payments can often lead to a Dutch company declaring bankruptcy. Stella’s parent, investment firm DMEP, has said that they think it would be irresponsible to invest more money into the company.
Rachel Reeves’ big fiscal feast risks giving the Bank of England indigestion, Reuters reported. The new Labour finance minister’s decision to hike spending, taxes and borrowing in the budget will provide a short-lived boost to growth next year. But it will also reduce BoE Governor Andrew Bailey’s ability to cut rates and keep pace with his European and U.S. counterparts. Reeves’ plan to reduce economic slack but may leave Bailey without any of his own. Her budget will raise spending by 70 billion pounds a year until 2030, according to the independent Office for Budget Responsibility.
French investigators raided offices of the French soccer league and private equity firm CVC Capital Partners on Tuesday as part of an investigation into possible corruption and embezzlement related to an investment deal, a judicial official said, the Associated Press reported. The searches took place amid an investigation that opened in July into charges of misappropriation of public funds, active and passive corruption of a public official and illegal taking of interest, the judicial official told the Associated Press.
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