Headlines

Brazilian airline Gol on Thursday announced that it has struck a new deal with key creditors, paving the way for the company to emerge from Chapter 11 bankruptcy protection likely by the end of June, Reuters reported. The agreement, which involves investors holding a portion of the airline's senior secured notes due in 2026, will provide $125 million in financing, according to a regulatory filing. With the new development, Gol has now secured at least $1.375 billion in financing to exit bankruptcy, the filing showed.

German battery pioneer CustomCells has filed for insolvency proceedings for the group’s key operating entities located in Itzehoe and Tübingen, BatteriesNews.com reported. The competent court in Kiel has appointed attorney Dr. Malte Köster, a partner at the law firm WILLMERKÖSTER, as the preliminary insolvency administrator of the operating companies. WILLMERKÖSTER is one of the leading insolvency law firms in Germany. The holding company of the CustomCells Group is not affected by the insolvency filing at this time.

Canadian electric bus and truck maker Lion Electric Co. is unlikely to survive as the Quebec government turned down an opportunity to put money into the firm along with local investors, Bloomberg News reported. “We believed in Lion’s potential, but the recovery plan submitted did not justify the re-injection of significant government sums,” provincial Economy Minister Christine Frechette said in a post on X.

The National Company Law Tribunal (NCLT) at Bengaluru on Thursday once again deferred its order in a petition seeking initiation of insolvency proceedings against hyperlocal delivery platform Dunzo, BarAndBench.com reported. This is the third time the tribunal has postponed pronouncing the order. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radha Krishna Sreepada cited time constraints, stating: “We have been sitting till 5:30 PM, we have not been able to finalise the order.

The end may very well be near for Li-Cycle Holdings Corp. and its stalled Rochester Hub, the Rochester Business Journal reported. The Toronto-based lithium-ion battery resource recovery firm announced this morning that the business and all assets are for sale, as a whole or any part, and bankruptcy may be necessary if a buyer isn’t found. “Li-Cycle requires additional financing to meet its obligations and repay its liabilities arising from the ordinary course of business operations when they become due in order to continue,” the company statement says.

The Bank of Japan kept interest rates steady and sharply cut its growth forecasts on Thursday, suggesting uncertainty surrounding U.S. tariffs and the hit to exports could keep policy in a holding pattern for some time, Reuters reported. But the central bank projected inflation would stay roughly on course to hit its 2% target in coming years, a sign that risks from U.S. tariffs could delay, but not derail, its rate hike plans.

South Korea’s exports unexpectedly expanded for a third consecutive month in April, even as President Trump’s sweeping tariffs have started to hurt international trade, the Wall Street Journal reported. Exports from Asia’s fourth-largest economy rose 3.7% to $58.21 billion from a year earlier, following a revised 3.0% gain in March, according to preliminary data released by the trade ministry on Thursday. Shipments of computer chips and smartphones remained strong, rising 17% and 61%, respectively, and offsetting the decline in auto exports, which took a hit from Trump’s levies.

Thailand's economy is expected to encounter temporary "air pockets" due to the impact of tariffs, the finance minister said on Thursday, and the country plans to negotiate to align its tariffs more closely with those of its trade competitors, Reuters reported. "No matter how much the tariff will end up, if it is at an equal level and equal to our competitors, it will not affect us," Pichai Chunhavajira said at a ministry event. "With our proposal, we should be at a point where we would get what we want," he added. Thailand is among Southeast Asian nations hardest hit by U.S.

The Bank of England is expected to lower interest rates by a quarter point on May 8 as U.S. President Donald Trump's tariffs darken the global growth outlook, and some economists think the BoE will soon need to speed up its gradual approach to rate cuts, Reuters reported. BoE Governor Andrew Bailey, speaking in Washington last week after the International Monetary Fund downgraded UK and global growth prospects, said he was taking "very seriously" the risks posed by Trump's tariffs.

European carmakers, including Mercedes-Benz, Stellantis and Volkswagen, said Wednesday that the chaos and upheaval caused by the tariffs introduced by President Trump had left them struggling to assess the impact and unable to plan for the future, the New York Times reported. After years of sluggish demand and high inflation, Europe’s carmakers headed into 2025 with a raft of new battery-powered models and high hopes that they would lure back customers. Instead, they are faced with global uncertainty surrounding supply chains and customer demand, set off by Mr.