Headlines

AdEnterprises has filed a caveat before the Supreme Court, anticipating a challenge by Vedanta against the National Company Law Appellate Tribunal's (NCLAT) verdict upholding Adani Group's resolution plan for debt-ridden Jaiprakash Associates Ltd (JAL), the Economic Times of India reported. A caveat is an application filed before a court by a party requesting that no order be passed in a matter without first hearing it.

Norwegian industrial battery technology company Morrow Batteries ASA has decided to file for bankruptcy proceedings after failing to secure fresh funding and a new industrial investor in time, RenewablesNow.com reported. The company’s board, along with those of subsidiaries Morrow Technologies AS and Morrow Industrialization Center AS, have resolved to file for bankruptcy as the group’s liquidity situation worsened despite ongoing financing talks. Several investor discussions and financing efforts had reached an advanced stage but could not be completed within the limited timeframe.

Recent airline collapses are exposing gaps in insurance cover, with disputes emerging across multiple lines rather than a single point of loss, InsuranceBusinessMag.com reported. While each failure may be driven by different immediate pressures, the underlying vulnerabilities are familiar. Thin margins, rising fuel costs, heavy debt and reliance on external funding continue to define the sector. John Samiotis, partner and head of the UK liability practice at Clyde & Co, said recent events reflect structural strain across both major and regional carriers.

The European Union’s General Court has upheld a €3.5 million antitrust fine against German clothing manufacturer Ahlers, rejecting the company’s appeal over its role in restricting cross-border sales of Pierre Cardin-branded apparel across Europe. In a judgment issued on Wednesday, the Luxembourg-based court backed the European Commission’s calculation of the penalty and upheld the Commission’s finding that Ahlers participated in anti-competitive agreements that violated EU competition law, TheFashionLaw.com reported.

The U.S. and ‌more than a dozen other countries including Japan, South Korea, Singapore and Australia on Thursday launched their own pact to not impose duties on e-commerce after no agreement was reached to end deadlock with Brazil, a document showed, Reuters reported. Brazil upheld its opposition to a four-year extension of a global deal at World Trade Organization talks ​in Geneva which concluded on Thursday. However, Turkey, which had previously been against it, dropped its opposition, a WTO spokesperson said.

Malaysia’s central bank once again left interest rates unchanged as inflation remains contained and the economy shows resilience amid disruptions caused by the Middle East conflict, the Wall Street Journal reported. Bank Negara Malaysia kept its overnight policy rate at 2.75% on Thursday, holding steady since it delivered a 25-basis-point cut in July last year.

Australia's top wagering and gaming firm ‌Tabcorp has come under regulatory scrutiny over its anti-money laundering and counter-terrorism financing processes, triggering a 28% drop in its shares on Thursday in their worst intraday trade to date, Reuters reported. Tabcorp said ​that the Australian Transaction Reports and Analysis Centre (AUSTRAC) had identified "serious concerns" over its ​ability to identify, mitigate and manage money-laundering and terrorism-financing risks effectively.

China's financial regulator advised the country’s largest lenders to temporarily suspend new loans to five refineries recently sanctioned by the US over their ties to Iranian oil, Bloomberg News reported. The National Financial Regulatory Administration (NFRA) asked banks to review their exposure and business dealings with firms, including Hengli Petrochemical (Dalian) Refinery, one of China’s largest private refiners, while awaiting further guidance. For now, banks have been guided not to extend new yuan-denominated credit, though they have also been told not to call in existing loans.

Japan faces no constraints on how often it can ​intervene in currency markets and is in daily contact with U.S. authorities, its top currency diplomat said on Thursday, reinforcing Tokyo's resolve to defend the embattled yen, Reuters reported. The remarks ‌by Atsushi Mimura come ahead of a visit to Japan next week by U.S. Treasury Secretary Scott Bessent, placing the yen, possible intervention and the Bank of Japan's rate path firmly under the spotlight as investors weigh whether Tokyo can shore up its currency on its own, or will need U.S. backing to do so.

Last year saw the highest-ever number of Japanese hair salons filing for bankruptcy at 235, breaking the record set in 2024 with 215 bankrupt hair stylists, JapanToday.com reported. This also had an effect on the average lifespan of salons, which could expect to survive for 13 years in 2025, down from 14.1 years in 2024. Also, of the currently active salons, 49 percent are less than 10 years old. To make matters much worse, many salons can’t even find enough staff to operate.