A German company that is developing a lunar lander has filed for insolvency, citing a shortfall in funding, but vows to continue development of its spacecraft. Berlin-based PTScientists announced July 8 that it had filed for “preliminary insolvency” under the German Insolvency Code in a local court July 5, Spacenews reported. That court has appointed an insolvency manager, Sascha Feies, to oversee the company.

Deutsche Bank AG credit investors showed their approval of the German lender’s plans to overhaul its business on Monday with risk gauges falling to fresh lows and its euro subordinated bonds initially rising, Bloomberg News reported. The cost of credit protection on the bank’s riskiest debt fell 15 basis points to its lowest level since March, according to ICE Data Services. Deutsche Bank’s riskiest bonds, that stand first in line for losses if the lender runs into trouble, rose as much as 0.5 cents on the euro in early trading to the highest level since April. The bonds later pared gains.

Deutsche Bank's capital-boosting Additional Tier I (AT1) debt issues fell on Monday on worries over future challenges Germany's biggest lender may face in a planned overhaul, the International New York Times reported on a Reuters story. Concerns centered on Deutsche Bank's decision to lower minimum capital buffers, a pool of assets designed to absorb losses, after it launched one of the biggest overhauls of its investment bank since the 2008 financial crisis on Sunday. The debt had earlier risen after Deutsche Bank said it will pay coupons on its bank capital debt.

German engine block and cylinder head maker Weber Automotive has filed for insolvency, following a spat between its family owners and French private equity group Ardian about the right restructuring strategy, Reuters reported. Finances have deteriorated despite solid orders, Weber Automotive said in a statement on Monday as it announced the filing, adding that the owners lacked unity about future financing of the maker of drivetrain components.

A key gauge of the health of Germany’s manufacturing industry sank by far more than expected in May, adding to concerns about the health of the global economy ahead of the release of key US economic data. A steep drop-off in foreign demand is hitting factories across the eurozone and raising expectations that the European Central Bank will revive its crisis-era stimulus, the Financial Times reported. Manufacturing orders in Germany dropped 2.2 per cent month-on-month in May, and were down 8.6 per cent from the same month in 2018.

Germany’s benchmark Bund yield touched a fresh record low on Thursday, as fears about a global economic slowdown and the prospect of renewed eurozone economic stimulus drew investors into government bonds, the Financial Times reported. Demand for the debt sent its yield down to as low as minus 0.403 per cent, taking it deeper into negative territory, meaning any investor holding the paper until maturity faces a loss.

Deutsche Bank AG’s efforts to turn around its struggling investment bank are gaining traction with investors, Bloomberg News reported. The cost of credit insurance on the bank’s riskiest debt fell for an 11th session on Monday, the longest streak of declines in more than two years, according to ICE Data Services. Swaps covering the bank’s safer bonds have also fallen to the lowest in months, the data show.

German luxury TV manufacturer Loewe will cease business operations on 1st July due to insufficient funds, according to reports. Yesterday, German publication Spiegel Online reported that Loewe was bankrupt and planning to shut down operations this weekend, What Hi-Fi? reported. "For reasons of insolvency law, we are therefore obligated to protect our creditors to provisionally suspend operations on 1 July 2019 with the least possible cost burden," said Loewe managing director Ralf Vogt.

Falling morale among Germany’s business leaders has added to the gloom surrounding the eurozone’s biggest economy, as a leading index showed that the mood among managers has weakened to its lowest level in nearly five years, the Financial Times reported. “The German economy is heading for the doldrums,” said the Ifo institute, which recorded a decline in its business climate reading this month to 97.4. That compares with 97.9 a month earlier and in line with economists’ predictions. June’s reading was the fourth decline and the lowest since November 2014 when it touched 96.1.

Earlier this month, following the collapse of merger talks with Commerzbank in April, Deutsche Bank’s share price hit the lowest point of its 149-year history. Fitch, a credit-rating agency, cut the bank’s rating to two notches above junk. In May Christian Sewing, its chief executive, promised “tough cutbacks” in the ailing investment-banking business, with plans to be laid out alongside half-year results on July 24th. But on June 16th a leak in the Financial Times revealed the outlines. The cuts (which Deutsche has not confirmed) go well beyond its investment-banking arm.