Headlines

SBI Shinsei Bank, a unit of SBI Holdings plans to file as early as next month for a relisting on the Tokyo Stock Exchange, Reuters reported. The bank, which aims to go public again by the end of the year, would follow a series of sizeable listings in Japan over the past year as companies look to capitalise on market momentum that has seen the Nikkei share average trade near record highs. Relisting the mid-sized lender has been a target for Yoshitaka Kitao, the CEO of SBI, a financial conglomerate whose businesses span banking, asset management, technology and cryptocurrency.

A UK car charging company is to be rescued by French energy giant EDF, after a downturn in demand for electric vehicles (EVs) left it struggling to survive. On Thursday, EDF said that it would buy Pod Point in a cut-price deal to save the British company, the Telegraph reported. The energy giant said a takeover was the “only realistic prospect” of allowing Pod Point to keep operating. Pod Point, which has chargers available at places such as Tesco and McDonald’s, is the third-largest charging group in the UK, operating 5,600 fuelling stations, according to Zapmap.

Neta Auto, once a rising star in China’s electric vehicle market, is reportedly set to commenced bankruptcy reorganization proceedings on June 12, CarNewsChina.com reported. This development follows a dramatic video circulating online on June 11, showing employees confronting Neta Auto Chairman Fang Yunzhou at the company’s new Shanghai office, demanding overdue wages. According to an employee present at the scene, over 100 individuals gathered, and the outcome was merely a directive to await bankruptcy liquidation.

Shares of Gensol Engineering slid 2% in Thursday's trading session to their day’s low of Rs 51.45 on the BSE, as the Ahmedabad bench of the National Company Law Tribunal (NCLT) reserved its order on two insolvency pleas filed by Indian Renewable Energy Development Agency (IREDA) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL) over a combined loan default of Rs 729 crore, the Economic Times of India reported.

Energy costs have pushed Active Nation into liquidation, despite the charity reporting the strongest trading period in years ,Health Club Management reported. Annette Reeve of Beesley Corporate Recovery was appointed by the company's creditors on 28 May. Former CEO, Stuart Martin, has told HCM the cost of energy became completely unmanageable and the support systems that should have helped – including Sport England’s Swimming Pool Support Fund – didn’t deliver. "It’s heartbreaking, because it wasn’t the quality of our work, our people, or our vision that failed," he says.

Joint provisional liquidators have been appointed by the Irish High Court to Dublin company Frank&Bear Limited, stated to be involved in a number of significant digital marketing campaigns in Ireland, the UK, Europe and the United States, the Irish Times reported. Barrister Eoin Coffey told Mr Justice David Holland that the company, which employs 12 people, was unable to meet its debts and that two of its three directors were engaged in promoting a petition through the courts for the winding up of the firm.

A key lesson from the latest skirmish in the U.S.-China trade war: The era of weaponized supply chains has arrived, the Wall Street Journal reported. Earlier this week, Washington and Beijing ended a standoff involving the most potent new tool in superpower statecraft—export controls. As part of a monthslong trade fight, the two sides choked off the supply of such exports as rare earths or semiconductor technology in a bid to gain an edge.

The European Commission on Thursday said it would delay the implementation of new, global rules governing banks' trading by a year, until Jan 1, 2027. Sources told Reuters last month that the EU would delay the implementation of the rules as it waits for more clarity about the U.S. administration's plans to deregulate its financial sector. The so-called Fundamental Review of the Trading Book is a key part of the Basel III package, devised in the wake of the global financial crisis, but not yet implemented by Britain or the United States, two of the world's key financial centres.

The U.K. economy contracted more than expected in April as President Trump’s evolving trade policy brought a halt to a surprising surge in activity, the Wall Street Journal reported. Gross domestic product was 0.3% lower than a month earlier, the country’s Office for National Statistics said Thursday, marking the deepest contraction in the British economy in 18 months.

The British government announced on Wednesday hundreds of billions of pounds in spending on defense, health care and investment in infrastructure and housing, as it laid out its economic priorities for the next few years, the New York Times reported. Rachel Reeves, the chancellor of the Exchequer, presented a breakdown of the public finances in Parliament, detailing how much money each government department will have to spend until 2029, around the time of the next general election. It brings to an end months of tense negotiations between Ms.