Headlines

The largest aquatic theme park operator in Latin America, The Dolphin Company, has filed bankruptcy in the US to restructure its debt and address what it described as financial challenges, Bloomberg News reported. The Cancun, Mexico-based company, whose properties include Dolphin Discovery habitats and the Selva Magica theme park in Guadalajara, Mexico, sought court protection on Monday in Delaware, listing assets and liabilities each of more than $100 million.

Israeli tech entrepreneur Moshe Yanai denied insolvency claims on Sunday, asserting that he holds significant assets through his investment firm, MII, YNetNews.com reported. According to a U.S. court ruling, MII’s portfolio is valued at approximately $1.1 billion — or several hundred million dollars at a minimum. Tech mogul Moshe Yanai denies insolvency, cites $1.1B MII portfolio in Tel Aviv court battle. Yanai made the argument in a request to halt legal proceedings, filed Sunday with the Tel Aviv Magistrate’s Court, in response to a bankruptcy petition by the investment fund Scintilla.

U.K. retailer Select Fashion has reportedly collapsed after closing 35 stores last month and left staff without redundancy pay or owed wages, PA Media reported. It is understood that insolvency firm Moorfields has launched a wind down of the womenswear chain after a creditors’ meeting was held last Friday to approve a voluntary liquidation. The group had already shut 35 shops in mid-March having quietly trimmed down its estate since the start of the year.

Australia's central bank on Tuesday left its cash rate steady as widely expected but took a small step towards further easing in a policy meeting dominated by risks of a global trade war, Reuters reported. Wrapping up its April policy meeting, the Reserve Bank of Australia (RBA) held interest rates steady at 4.1%, having just cut them by a quarter point in February for the first time in over four years. "Monetary policy is well placed to respond to international developments if they were to have material implications for Australian activity and inflation," the board said in a statement.

Australian retail sales rose modestly for a second straight month in February as a long-awaited cut in interest rates combined with slower inflation to boost consumer sentiment and spending power, Reuters reported. However, the recovery in consumer spending is still tepid, suggesting consumers remain cautious and would not be a bar to more policy easing. The Australian dollar was steady at $0.6241 and three-year bond futures were little changed at 96.31.

U.S. President Donald Trump's push for sweeping tariffs is creating great uncertainty and denting confidence but is not likely to trigger a near-term recession, International Monetary Fund Managing Director Kristalina Georgieva said on Monday, Reuters. Georgieva, in her first major interview since Trump took office, underscored the challenges facing a global economy that is still posting underwhelming growth after scarring from the COVID pandemic, but cautioned against being overly alarmed.

The annual rate of inflation in the eurozone edged closer to the European Central Bank’s target last month as the currency area’s unemployment rate fell to a fresh record low, the Wall Street Journal reported. Consumer prices were 2.2% higher in March than in the same month last year, an inflation rate that was down from 2.3% in February, the European Union’s statistics body said Tuesday. Services inflation fell markedly to 3.4% over the month, from 3.7% in February, pointing to cooling in an area where prices had previously continued to rise rapidly.

China is willing to buy more Indian products to balance trade, Beijing’s Ambassador Xu Feihong said just ahead of a US tariff announcement expected to hit the south Asian neighbors, Bloomberg News reported. “We are willing to work with the Indian side to strengthen practical cooperation in trade and other areas, and to import more Indian products that are well-suited to the Chinese market,” the ambassador to India was quoted as saying by China’s state-run Global Times, in a story posted Monday.

Argentina and the International Monetary Fund may be on the home stretch over a $20 billion new program, but the deal has so far failed to dispel traders' anxiety and a haze of uncertainty around the outlook for the country's peso currency, Reuters reported. The South American nation, under libertarian President Javier Milei, is trying to rebuild investor confidence and bolster depleted foreign currency reserves after years of overspending that left the grains producer locked out of global markets and battling to stabilize its finances.

Hydrogen-powered truck manufacturer Quantron has relaunched following insolvency, after a period of “critical reflection, process optimisation and strategic realignment,” H-2View.com reported. Last October, the German OEM filed for insolvency, due to growing debts and delays in paying employee wages. Workers feared that the company was headed for bankruptcy. During insolvency, Quantron maintained core operations with a reduced team of 40, ensured wage payments through pre-financing, and launched a structured sales process to attract investors and secure long-term stability.