Headlines

Gaucho Group Holdings announced its emergence from chapter 11 on June 16, having resolved litigation with 3i Parties and secured a settlement, TipRanks reported. The company is now poised to leverage Argentina’s improving economic conditions, including reduced inflation and renewed mortgage financing, to advance its business strategy and capitalize on new investment opportunities. Gaucho Group Holdings Inc. is a company focused on luxury real estate, fine wines, and leather goods, primarily operating in Argentina.

Three interest-rate cuts in just over 24 hours by central banks in Europe highlighted a shift as monetary officials seek to manage the fallout from Donald Trump’s unpredictable trade policies, Bloomberg reported. Central bankers in Switzerland and Sweden had suggested as recently as March that they were most likely done loosening, but the Swiss National Bank instead trimmed borrowing costs by 25 basis points on Thursday, following a similar move by Sweden’s Riksbank a day earlier.

Russia’s economy is “on the brink of going into a recession,” the country’s economy minister said Thursday, according to Russian media reports, the Associated Press reported. Economy Minister Maxim Reshetnikov delivered the warning at the St. Petersburg International Economic Forum, the annual event in Russia’s second largest city designed to highlight the country’s economic prowess and court foreign investors. Russian business news outlet RBC quoted the official as saying “the numbers indicate cooling, but all our numbers are (like) a rearview mirror.

Zhejiang Hozon New Energy Automobile, the owner of Chinese electric vehicle brand Neta, officially entered bankruptcy proceedings on Thursday, China's state broadcaster CCTV reported on Friday, Reuters reported. Multiple Neta stores in Shanghai have been closed, the report said. According to China's national corporate bankruptcy disclosure platform, a creditor last month filed a bankruptcy petition against the firm. Read more.

A regulatory disgorgement order will survive a fraudster’s bankruptcy, a court in British Columbia confirmed — a ruling that comes in the wake of a recent Supreme Court of Canada decision which found that regulatory penalties can be wiped out by bankruptcy proceedings, the Advisor reported. Back in 2016, the B.C. Securities Commission (BCSC) ordered sanctions against a former mutual fund rep, Thomas Arthur Williams, after finding that he defrauded investors in an alleged Ponzi scheme, which took in $11.7 million from investors between 2007 and 2010.

Hong Kong recorded 949 bankruptcy petitions in May, up 17 percent from the previous month, marking the first time since 2022 that monthly filings exceeded 900, data from the Official Receiver's Office shows, The Standard reported. The figure is also 9 percent from a year ago. However, the number of bankruptcy or receiving orders issued by the court dropped to 712 last month, down over 24 percent from April, though still up around 14 percent year-on-year.

Somerset Council will have to declare effective bankruptcy in April 2026 unless the government can change how special needs education is funded, Glastonbury and Street reported. Demand for specialist education for children and young people with special educational needs and disabilities (SEND) has soared in recent years, with rising demand and climbing costs putting huge pressure on council budgets.

A court on Friday approved a request to allow discount store chain Homeplus Co. to pursue a merger and acquisition (M&A) deal before a court decision on whether to approve its rehabilitation plan, the Korea Times reported. The Seoul Bankruptcy Court approved Homeplus' pursuit of the M&A deal and the selection of an M&A adviser prior to its rehabilitation plan-related court ruling.

Former England footballer Trevor Sinclair has been declared bankrupt after a judge accused him of “burying his head in the sand” for failing to pay a five-figure amount related to his media work in 2021 and 2022, Sportstar reported. Sinclair, a 2002 World Cupper with the Three Lions, joined the Indian men’s team as part of its coaching staff during the AFC Asian Cup in Doha, Qatar, in January 2024. However, the team failed to score any goals and exited in the group stage after losses to Australia, Uzbekistan, and Syria.

The Philippine central bank delivered a widely expected interest-rate cut to support the economy, warning about slowing global growth and geopolitical risks, the Wall Street Journal reported. Bangko Sentral ng Pilipinas cut its benchmark overnight reverse repurchase rate by 25 basis points to 5.25%, its second reduction so far this year. It lowered its benchmark lending rate to 5.75% from 6.00%. The central bank has now cut rates by 125 basis points since the beginning of the easing cycle in August last year. Thursday’s decision comes after the U.S.