Headlines

Insolvencies among retail businesses jumped in the third quarter as business advisory giant PwC warned of a fresh spike in both retail and hospitality insolvencies in early 2025 amid ongoing stresses in the two sectors, the Irish Times reported. The retail sector now accounts for one in four of all insolvencies so far this year, PwC’s quarterly insolvency barometer found, with 76 retail businesses becoming insolvent in the three months to the end of September on top of 43 in each of the first two quarters.
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The Bombay High Court on Friday directed the Slum Rehabilitation Authority (SRA) to release the transit rent of a cancer patient who vacated his premises in 2013, but had not been paid the transit rent for the last seven years as insolvency proceedings were initiated against the builder, Darshan Developer, the Free Press Journal reported.
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China’s top economic planner will hold a press briefing on Tuesday to discuss a package of policies aimed at boosting economic growth, as investors look for more stimulus measures from President Xi Jinping’s government, Bloomberg News reported. The briefing, which is scheduled to start at 10 a.m., will include five senior officials from the National Development and Reform Commission, including Chairman Zheng Shanjie, according to a notice from the government on Sunday.
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The Bank of Japan indicated it remains on track to consider more interest rate hikes by upgrading its assessments for two regional economies, while also offering little evidence of any need for immediate action, Bloomberg News reported. The BOJ raised it economic assessments for the Hokuriku and Tokai regions in its quarterly regional report Monday. In a separate release summarizing the views of branch managers who met to discuss the report, the bank said many reported widening perceptions among business leaders that wages need to keep rising next year.
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Thailand’s Finance Ministry plans to propose a higher inflation target of 1.5%-3.5% for next year, adding pressure on the central bank to cut its key interest rate, Bloomberg News reported. The ministry is due to hold talks with the Bank of Thailand to finalize the price band later this month, the people said, asking not to be named as they aren’t authorized to discuss the information. The central bank and the Finance Ministry need to agree on the target before it’s sent to the Cabinet for approval.
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German manufacturing orders plunged more than expected in August, adding further gloom to the struggling sector that offers little sign of a recovery, the Wall Street Journal reported. Orders fell 5.8% on month in August, according to data published Monday by Germany’s statistics agency Destatis. That was weaker than economists’ expectations for a 2.0% drop, according to a Wall Street Journal poll, and contrasts with an upwardly revised 3.9% increase in July orders.
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Root Capital, a Rio de Janeiro-based firm specializing in credit, is launching a distressed-debt fund as filings for bankruptcy protection reach record highs in Brazil, Bloomberg News reported. “We continue to see stress in Brazil’s credit markets, the companies continue to go broke, the agribusiness sector is horrible, and the interest rates that people thought would start to fall now are going up again,” said Rafael Fritsch, partner and chief investment officer at Root Capital.
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Commerzbank AG has accelerated strategic planning as it seeks to prepare for a potential takeover offer from rival UniCredit SpA, Bloomberg News reported. “Normally, we would not have started this until next year,” Chief Executive Officer Bettina Orlopp told German business daily Handelsblatt in an interview published Monday, referring to internal discussions about the lender’s strategy beyond 2027.
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Swedish landlord SBB plans to sell as much as 4 billion Swedish kronor ($390 million) worth of stock in its residential unit in an effort to shore up its balance sheet, Bloomberg News reported. The company plans to offer a maximum of 88 million shares in Sveafastigheter AB in a contemplated initial public offering, with pricing estimated in the range of 39.5 kronor to 45.5 kronor each, according to a statement on Monday. That corresponds to 44% of the total number of shares in the residential unit, which is slightly less than its previous guidance.
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The European Union’s decision to impose tariffs on Chinese electric vehicles has moved the focus to how and when Beijing will retaliate for the escalation in its biggest trade dispute with the bloc in years, Bloomberg News reported. While talks continue, crucial clues may lie in the votes cast by individual EU member states on the EV measures last week. Beijing has previously threatened tariffs on EU brandy imports and launched investigations into pork and dairy products in response to the tariffs — offering a range of options that affect different parts of Europe.
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