Headlines

More than a year after the parent company of New Brunswick nuclear technology developer Moltex Energy Canada Inc. entered into a British insolvency proceeding, “advanced” negotiations with a potential buyer are progressing, according to an insolvency practitioner supervising the sale, The Globe and Mail reported. The parent company, Manchester-based Moltex Energy Ltd., began the proceedings in March, 2025, with the objective of rescuing itself as a going concern.

All Claire's standalone stores in the UK and Ireland have stopped trading after the accessories chain's financial woes saw it fall into administration twice in a year, BBC.com reported. Administrators Kroll said that 154 stores have shut and more than 1,300 staff have been "notified of redundancy", though its 350 concessions will remain open. Changing consumer tastes also spelled the death knell for the retailer, which has struggled like many High Street firms. Kroll said: "As of 27 April, all Claire's standalone stores in UK and Ireland have ceased trading.

The Mayfair financiers running what used to be WH Smith’s high street empire are gearing up for a make-or-break restructuring that will result in a swathe of store closures, The Times reported. Modella Capital, a private equity fund that specialises in distressed investments, bought the high street arm of WH Smith in a cut-price £40 million deal last year, taking over almost 500 shops from the retail stalwart and renaming it TG Jones.

Customers who bought products from a Carlow-based homes and garden centre that were never delivered have expressed concern they may never see promised refunds after the company entered a process aimed at restructuring its debts, the Irish Times reported. Rathwood claimed in a statement posted on its website over the weekend that it had gone into examinership and would not be issuing any refunds owed to customers over undelivered orders until the process is complete.

Spanish steel pipe maker Tubos Reunidos may file for insolvency as soon as early May, Spanish newspaper El Confidencial reported – and the shares fell about 35% on April 27, Finimize.com reported. Tubos Reunidos makes “seamless” steel tubes (pipes without a welded seam) for energy and industrial customers, but it’s been squeezed by weak pricing, competition, and a stronger euro versus the US dollar. The company reported net debt of €263 million and a €118 million net loss for 2025, and it pointed to tariff policy and cheaper imports as key headwinds.

The month ahead is shaping up to be one of the most consequential periods for Allianz in recent memory, as the insurer's shareholders prepare for a whirlwind of corporate events that will test the company's narrative of resilience against a stark warning from its own credit insurance arm, AktienCheck.de. reported. On one side of the equation sits an impressive run of financial strength.

Apollo Global Management Inc. agreed to buy Forvia SE’s auto interiors business for an enterprise value of €1.82 billion ($2.1 billion), helping the French supplier cut debt and streamline its business, Bloomberg News reported. The carve-out transaction, which is subject to closing conditions including regulatory approvals, is expected to be completed in the second half of this year, Apollo said Monday in a statement on its website. Bloomberg reported last week that the asset manager was close to a deal for the business. Forvia shares climbed as much as 4.2% in early trading in Paris.

Gulf Cooperation Council (GCC) economies are sliding into their worst economic crisis since the pandemic, with several expected to contract this year on ​spillovers from the U.S.-Israel war with Iran right on its doorstep, Reuters reported. The war's knock-on effects have ripped through the energy market – the ‌Gulf economies' lifeline – driving oil prices sharply higher and triggering a historic supply shock, drawing comparisons to the 1970s.

Brazil's planned critical ‌minerals rules do not involve fresh tax breaks, Finance Minister Dario Durigan said on Friday, adding that their aim was to secure national sovereignty and add value through domestic processing, Reuters reported. Durigan, who took charge of the ministry last month, told Reuters from his new office ​that critical minerals would be a priority in a May or June auction for the Eco Invest program, ​which offers blended finance to lure foreign investment. Although a small producer, Brazil holds vast reserves ⁠of critical minerals that are key for high-tech industries.

India and New Zealand signed ‌a free trade agreement (FTA) on Monday, lowering tariffs on key fruit imports such as kiwifruit and apples, expanding opportunities for Indian exports and easing visa access as the nations deepen economic ties, Reuters reported. Concluded in December after about nine months of talks, the pact is one of the South Asian nation's fastest trade deals, ​and will cut or remove tariffs on 95% of New Zealand's exports to India, including seafood, iron, steel and scrap ​aluminium.