Creditors in U.S. chipmaker Wolfspeed offered roughly $600M to refinance a large convertible bond coming due in 2026, to pre-empt a potential bankruptcy filing, The Financial Times reported. The offer comes after Wolfspeed announced last week that it was considering a bankruptcy filing after negotiations to restructure the bond reached an impasse.

UK wage growth slowed down in the three months to March 2025, as businesses braced for national insurance increases which came into effect at the beginning of April, EuroNews.com reported. Regular pay excluding bonuses in the UK grew by 5.6% on an annual basis to £671 (€798.3) a week in the three months to March 2025, according to the Office for National Statistics (ONS). This was below the 5.9% seen in the previous period, while being less than analyst estimates of 5.7% as well.

Amigo Holdings PLC on Monday said it needs funding by early July to avoid insolvency as Chief Executive Officer Kerry Penfold steps down, Alliance News reported. Amigo is a Bournemouth, England-based former mid-cost credit provider now in an orderly solvent wind-down. The company said Kerry Penfold will immediately step down as CEO of the public limited company, but will remain CEO of the firm's subsidiaries until the end of May. Chief Restructuring Officer Nicholas Beal will join the board as an executive director and will take on Penfold's responsibilities alongside his existing role.

Britain’s £60bn textile industry faces a wave of insolvencies because of the Government’s new trade deal with India, an insurer has warned, The Telegraph reported. A free trade agreement unveiled last week means factories will be forced to compete with imports from Indian businesses who have cheaper labour costs and can undercut domestic UK manufacturers, trade insurance company Coface warned. Textile imports from India currently face 10pc to 20pc tariffs – meaning that British firms with tight margins will struggle to keep up once these are slashed to zero.

Australian hospital operator Healthscope Ltd., owned by a unit of Brookfield Corp., is trying to avoid company receivership by asking lenders to support a plan that will give them board control, after struggling to pay interest on an outstanding A$1.6 billion ($1 billion) loan. Under the plan, lenders have the ability to appoint their own board nominees as soon as they’re in a position to do so, Healthscope said in a Monday statement, adding that it has sent all financiers a letter detailing and committing to the transition of control.

A company with two London art galleries which marketed itself as selling works by famous artists such as Banksy, Andy Warhol and Tracey Emin has been shut down, MirageNews.com reported. Artwork Holdings Ltd traded under the banner of Yield Gallery, which described itself as an internationally established "reputable and respected" contemporary and modern art gallery with two locations in London.

Sanjeev Gupta is set to call in administrators to place his main commodities trading business into insolvency, marking the final chapter for one of the controversial metals magnate’s oldest companies, the Financial Times reported. Liberty Commodities, which last month renamed itself to 3349135 Limited, on Thursday filed a “notice of intention to appoint an administrator”, according to UK court records. Liberty Commodities once claimed to trade billions of dollars in metals a year and is one of the oldest companies in Gupta’s GFG Alliance conglomerate.

A group representing General Motors, Ford and Stellantis blasted President Donald Trump's trade deal announced with the United Kingdom, saying it would harm the U.S. auto sector, Reuters reported. British carmakers will be given a quota of 100,000 cars a year that can be sent to the United States at a 10% tariff rate, almost the total Britain exported last year, compared to 25% for Mexico and Canada and nearly all other countries. "Under this deal, it will now be cheaper to import a UK vehicle with very little U.S.

President Trump announced an agreement on trade with the U.K. on Thursday, the first in what the White House hopes is a series of such developments since it imposed tariffs against allies and adversaries, the Wall Street Journal reported. Trump teased the announcement on Truth Social earlier, calling the agreement “full and comprehensive,” and added: “Many other deals, which are in serious stages of negotiation, to follow!” U.K. officials said the pact isn’t a comprehensive trade agreement and will instead focus on reducing tariffs in specific sectors.