Headlines

Global airlines are in talks with Gol to invest in the Brazilian airline, which is undergoing Chapter 11 bankruptcy proceedings in the U.S., local newspaper Valor Economico reported yesterday, according to Reuters. The report mentions U.S.-based companies United Airlines and American Airlines, as well as European firms Air France-KLM, International Airlines Group and Lufthansa Group among the groups in talks with Gol.

German shipbuilding group FSG-Nobiskrug has received offers from potential investors from industry-related companies after it applied for insolvency in December 2024, BairdMaritime.com reported. Hendrik Gittermann, one of two assigned provisional insolvency administrators, confirmed that discussions with interested parties have reached an advanced stage. However, Gittermann ruled out the complete and immediate resumption of production at the group's Rendsburg and Flensburg sites by the beginning of February even as the group comes under new management.

The National Company Law Tribunal's (NCLT) Delhi bench has dismissed Bollywood actor Akshay Kumar’s plea to initiate insolvency proceedings against ed-tech company Cue Learn Pvt. Ltd., LiveMint.com reported. Kumar had filed a plea against the edtech under Section 9 of the Insolvency and Bankruptcy Code (IBC) over the non-payment of ₹4.83 crore as part of a 2021 endorsement agreement, terming the dues operational debt. However, the tribunal, in its judgment delivered on 7 January, held that Kumar’s claims did not qualify as operational debt under the IBC.

Malaysia’s central bank kept its benchmark interest rate unchanged yet again, as solid growth and steady inflation gives it room to extend its policy hold, the Wall Street Journal reported. Bank Negara Malaysia on Wednesday maintained its overnight policy rate at 3.00%, the same level it has been at since May 2023. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” the central bank said.

Toronto-Dominion Bank is looking to sell about $9 billion of residential mortgage loans as the Canadian lender adjusts its balance sheet to comply with a new cap imposed by US regulators, part of a plea agreement reached last year for its role in failing to prevent money laundering, Bloomberg News reported. The portfolio for sale consists of so-called jumbo mortgages taken out by US homeowners with relatively high credit scores, according to people familiar with the matter. Bids on the pool are due next week, the people added, asking not to be named because the details are confidential.

President Trump said on Tuesday that he intended to impose a 10 percent tariff on Chinese imports into the United States on Feb. 1, the New York Times reported. Speaking at the White House, Mr. Trump said that the tariffs were in response to China’s role in America’s fentanyl crisis. Trump said that China was sending fentanyl to Canada and Mexico, from where it would be transported into the United States. The tariff threat comes after Mr.

China is set to impose a 1 million yuan ($137,309) cap on the annual income of staff at central government-owned financial institutions, three sources said, expanding a campaign against excess against a backdrop of economic slowdown, Reuters reported. Those whose income already exceeds 1 million yuan will have their payout cut, such as middle and senior managers whose income will as much as halve in an overhaul of the compensation structure at 27 financial giants including the "Big Five" banks, six leading insurers and four major bad debt managers.

Co-founder Peter Jansson confirmed the news Tuesday morning on Instagram following a Monday report from the Swedish outlet Ehandel on the company’s filing. According to another story from last week, Sneakersnstuff has made layoffs in addition to ceasing operations in the U.S. and Japan. During the 2023 financial year, operating profit fell in the negative to a tune of nearly $3 million. Sneakersnstuff’s stores in London, Berlin and Paris continue to be open, but Jansson said the original location in Stockholm is “temporarily” closed. The Swedish boutique’s two U.S.

The Dutch government is seeking to prevent the rollout of "buy now, pay later" services in physical retail outlets due to the financial risks they pose for consumers, according to a letter sent by Finance Minister Eelco Heinen to parliament on Tuesday, Reuters reported. "Buy now, pay later" (BNPL) schemes surged in popularity for online purchases since the COVID-19 pandemic and allows consumers to split payments over time into smaller, interest-free installments. These loans are often provided by digital lenders such as Sweden's Klarna.

The number of people going financially insolvent in England and Wales last year was 14% higher than in 2023, driven by debt relief orders, DROs, jumping to a record high, according to the Insolvency Service, Alliance News reported. Some 117,947 personal insolvencies were registered in 2024, 14% higher than the 103,434 recorded in 2023. Within the total, there were 43,249 DROs – the highest annual number on record and 36% higher than in 2023.