Headlines

Brazil's Voepass, a privately held airline, filed for bankruptcy protection late on Tuesday according to court documents, citing the actions of Chile-based LATAM Airlines as a major reason for its financial crisis, Reuters reported. Voepass, which claims a total debt of about 209.2 million reais ($36.78 million), has been facing difficulties since one of its planes crashed near Sao Paulo in August 2024, killing all 62 people on board.

CPU cooler maker Scythe may be in deep trouble, as reports suggest the company’s EU division is potentially on the verge of shutting down, TomsHardware.com reported. According to German tech portal Computer Base, CPU coolers from the manufacturer have been in short supply. The primary reason given is that the company's EU division has run out of money and filed for insolvency. As noted by the Consumer Protection Forum, on April 17, 2025, the district court in Reinbek, Germany, issued a "provisional insolvency administration" for Scythe EU GmbH.

Hudson's Bay Co. has stopped paying commission to hundreds of cosmeticians and fragrance advisers during liquidation sales, effectively reducing their salaries, CBC.ca reported. These workers, also known as beauty advisers, earn commission on products sold, on top of their base salary. Hudson's Bay notified the beauty advisers 12 days in advance that, starting on April 20, they would only receive base pay, according to a company-issued letter seen by CBC News. "Please note that this is a decision we have not taken lightly," the retailer stated in the letter.

Indonesia’s central bank kept rates on hold even as slowing growth backs the case for a cut, opting to lend support to the rupiah as it watches to see how U.S. tariffs develop, the Wall Street Journal reported. Bank Indonesia’s decision to keep its benchmark seven-day reverse repo rate at 5.75% on Wednesday was widely expected. The central bank also maintained its overnight deposit facility rate at 5.00% and its lending facility rate at 6.50%.

Japanese banks must monitor various risks associated with high levels of uncertainty over global trade policies, the Bank of Japan said on Wednesday, as U.S. President Donald Trump's tariffs have rocked financial markets in recent weeks, Reuters reported. "Japan's financial system has been maintaining stability on the whole," the BOJ said in a semi-annual report. But since the beginning of April, "uncertainty has heightened regarding the formulation of trade and other economic policies in each jurisdiction, geopolitical risks, and developments in global financial markets," the BOJ said.

Business activity in Germany's private sector has contracted this month, hurt by service sector woes and trade-related uncertainty, although manufacturers are showing some resilience, a survey showed on Wednesday, Reuters reported. The HCOB German flash composite Purchasing Managers' Index, compiled by S&P Global, fell to 49.7 in April from 51.3 in March, its lowest point since December and back below the 50.0 threshold that separates growth from contraction.

Laszlo Bige, the owner of Hungarian fertilizer maker Nitrogenmuvek Zrt, ruled out using tangible assets as collateral in a standoff with creditors over extending a looming maturity date for its bonds, Bloomberg News reported. Talks between Nitrogenmuvek and holders of around 70% of the €200 million ($228 million) of bonds due in mid-May concluded last week with no deal. The creditor group had asked for tangible assets to be posted as collateral, as well as some sort of contribution from shareholders as part of the refinancing, Bloomberg reported.

The U.S. is moving forward with a plan to charge fees on Chinese ships calling at American ports, part of the Trump administration’s effort to counter China’s dominance in ocean shipping and revive the domestic maritime industry, the Wall Street Journal reported. The U.S. Trade Representative’s office on Thursday released the plan to charge steep fees on Chinese-owned and operated ships, and lower fees on Chinese-built vessels operated by non-Chinese carriers. Ships will be charged for each voyage to the U.S. and not for each call at a U.S.

Chinese authorities have asked e-commerce platform operators to stop insisting on merchants refunding customers without requiring the return of goods, to alleviate financial pressure on merchants, Reuters reported. The government met operators including PDD Holdings and concluded the practice must end by July, from which point only merchants will be able to initiate a refund.

Adani Group is in talks with a group of international lenders for an offshore loan for as much as $750 million for its airport unit, Business-Standard.com reported. Lenders include Barclays Plc, First Abu Dhabi Bank PJSC and Standard Chartered Bank Plc. The proceeds would fund capital expenditure and refinance dollar debt due in September. The unit aims to conclude the debt raise by early May, they added. Adani Airport Holdings Ltd. manages seven major airports across India and is nearing the launch of a new $2 billion international hub on the outskirts of Mumbai.