Bel Fuse said it will record an impairment charge of up to about $14 million because Innolectric, a company in which it owns a stake, is initiating insolvency proceedings, MarketWatch.com reported. Innolectic, a German charging technology company, began insolvency proceedings in November as it has recorded several years of losses and its majority owner will not be able to provide future funding, Bel Fuse said on Wednesday.

A group of Swiss and German law enforcement agencies ​said on Monday they shut down cryptomixer.io, ‌one of the largest platforms to cover up the tracks of bitcoin transfers ‌from illegal activities, Reuters reported. Germany's federal investigation agency BKA said in a statement it worked with regional prosecutors in Frankfurt as well as authorities in Zurich to shut down the cryptomixer.io site on Wednesday last ⁠week.

Nodwin Gaming International Pte. Ltd., a leading player in youth entertainment, gaming, and esports, has announced that it will discontinue further funding to its majority-owned subsidiary Freaks 4U Gaming GmbH, AdGully.com reported. The decision follows extensive legal and financial consultations, after multiple rounds of support failed to deliver the expected turnaround. According to the company, Nodwin has backed Freaks 4U for several years under its limited recourse investment strategy.

Since 2017, the German company Govecs has produced the ‘E-Schwalbe’, an electric scooter inspired by the iconic East German original. The various models, offering different options in terms of battery capacity, power output, and top speed, are manufactured by a subsidiary in Poland. However, the future of the E-Schwalbe is now in doubt, as Govecs has filed for insolvency at the Munich District Court, Electrive.com reported.

A German high court rejected a claim from shareholders in defunct payments company Wirecard who were seeking a bigger share of the firm's remaining assets, Reuters reported. The company collapsed in 2022 in the country's biggest post-war fraud after conceding that 1.9 billion euros ($2.22 billion) it had booked in its accounts likely never existed.

Kadewe renewed its top management with talent from PVH Corporation as Sandra Swiderski will take over as the managing director of the Berlin-based company, Modaes.com reported. The appointment comes a year after the group went into court after declaring insolvency. The German-based Kadewe Group owns the department store of the same name, and its portfolio also includes the Oberpollinger shopping center in Munich and the Alsterhaus complex in Hamburg. The Kadewe Group went to court in January last year after declaring insolvency.

The German company IDAGIO, which runs a specialist classical music streaming service, has completed its insolvency proceedings in self-administration, theViolinChannel.com reported. The whole process took about four months, and the creditors have unanimously agreed to the insolvency plan proposed by the company. The proceedings will soon be approved by the Charlottenberg District Court. The new shareholders are the Berlin-based music entrepreneur Ki Soo Lee and Jim Chang from Singapore.

Germany’s economic sentiment remained broadly unchanged in November, as financial experts continued to express cautious optimism about the country's medium-term outlook. However, persistent doubts over economic policy effectiveness and sector-specific weakness tempered enthusiasm, EuroNews.com reported. The ZEW Indicator of Economic Sentiment dipped slightly to 38.5 points in November from 39.3 in October, suggesting that optimism among experts is plateauing. The assessment of current conditions rose marginally by 1.3 points to minus 78.7, reflecting little improvement in the real economy.

For three years, a crack team of detectives gathered each weekday morning around a whiteboard at the German Federal Police headquarters in Potsdam, near Berlin. Now their investigation into who was behind the greatest act of sabotage in modern history—the bombing of the Nord Stream pipelines—is threatening to splinter support for Ukraine, the country they hold responsible, the Wall Street Journal reported. Poland already has refused to extradite one of the suspects to stand trial in Germany.