Headlines

The number of U.K. businesses in critical financial distress soared in the third quarter, reflecting tax increases, inflation and a challenging economic backdrop, according to a new study, the Wall Street Journal reported. The number of businesses in critical financial distress surged by 78% on year and by 13% on quarter to 55,530 companies, consultancy Begbies Traynor BEG 0.91%increase; green up pointing triangle said in its latest Red Flag Alert report on Thursday.

Polish battery manufacturer BMZ has announced the insolvency of two German subsidiaries: BMZ Germany GmbH and BMZ Holding GmbH, both headquartered in Karlstein am Main. As reported by the trade agency electrive, citing an official release by the company, both insolvency proceedings have been initiated under self-administration and were approved by the Aschaffenburg local court on October 24, Sustainable-Bus.com reported. In the bus business, BMZ is mainly know as the provider of NMC4 modules adopted by Daimler Buses on its eCitaro range (starting in 2026), as announced already in 2024.

The Principal Bench of the National Company Law Appellate Tribunal (NCLAT), Delhi, has restrained Raheja Developers from creating third-party rights by selling units or land, the Economic Times of India reported. “It is clarified that, insolvency having commenced, we have no doubt that the management of the corporate debtor shall not create any third-party rights in the immovable properties,” the NCLAT said in its order. Earlier, the homebuyers had raised concerns that the assets of the company were being sold and transferred without the instructions of the IRP.

The Bank of Canada signaled it has emptied its toolbox to help an economy hurting from the trade row with the U.S., the Wall Street Journal reported. Canada’s central bank cut its main interest rate on Wednesday, to 2.25%, and said the rate is “at about the right level” to keep inflation intact at its 2% target. It’s taking this approach even though its own economic outlook is bleak over the next two years. Gov. Tiff Macklem said that President Trump’s shift on trade has scarred the economy.

The Frankfurt-based European Central Bank held its deposit facility rate at 2% on Thursday for the third consecutive meeting, EuroNews reported. The bank’s deposit rate remained unchanged for the third meeting in a row. Keeping rates in a steady holding pattern for a third meeting suggests the ECB believes inflation is largely under control after having fallen from double-digit highs triggered by post-pandemic supply shocks and the energy crisis following Russia’s invasion of Ukraine.

The eurozone economy grew more than expected in the three months through September as it adjusted to higher U.S. tariffs, and recent surveys show tentative signs of a German-led recovery as a tumultuous year draws to a close, the Wall Street Journal reported. Gross domestic product in the 20-nation eurozone increased 0.2% in the third quarter, compared with a 0.1% rise in the second, and a 0.6% jump in the first, European Union data agency Eurostat said Thursday. Annualized eurozone growth was 0.9%, from 0.5% in second quarter.

Job seekers face an increasingly difficult market as new Statistics Canada data reports vacancies were the lowest in almost a decade, BNNBloomberg reported. The Statistics Canada report states vacancies across Canada were 457,400 in August. Vacancies were 435,500 in August 2017. The numbers of this year coincide with a rise in the unemployment rate. The job vacancy rate, which corresponds to the number of vacant positions as a proportion of total labour demand, was 2.6 per cent in August. On a year-over-year basis, the unemployment-to-job vacancy ratio was up by 0.7 in August 2025.

U.S. President Donald Trump said on Thursday he had agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing, Reuters reported. Trump's face-to-face talks with Xi in the South Korean city of Busan, their first since 2019, marked the finale of a whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.

Creditors of STARK demand repayment of 130 billion Baht from Vonnarat Tangkaravakoon, as bankruptcy proceedings continue. The Thai Investors Association updates affected shareholders on the ongoing case, The Nation reported. Mr. Vonnarat Tangkaravakoon ("Mr. Vonnarat") is one of the defendants in the case filed in the South Bangkok Civil Court under case number P.1061/2567. The Central Bankruptcy Court issued an order for the absolute preservation of his assets in the bankruptcy case under case number L.9679/2567.

U.S. sanctions on Russian oil producer Rosneft have rekindled discussions in Germany about nationalising the company's business there, including a refinery that Berlin depends on for most of its fuel, two sources familiar with the talks told Reuters. The situation highlights the complex web linking Germany with Russia, which supplied Europe's industrial powerhouse with energy in the decades leading up to the war in Ukraine. The U.S. Treasury said on Wednesday it had issued a licence exempting Rosneft's German arm from the U.S.