Distress among UK companies has risen for a third consecutive year, to its highest level since the onset of the Covid-19 pandemic, according to a report by consulting firm Alvarez & Marsal, Bloomberg News reported. The consultancy found that 11.2% of UK corporates suffered from some combination of weak profitability, insufficient liquidity and inadequate capital structure last year. The figure stood at 9.8% in 2023 that and 8.5% the year before that. Surging costs and a rapid rise in interest rates in recent years has put significant strain on businesses.

The China Shipowners' Association opposes a U.S. proposal to slap hefty port entry fees on ocean cargo carriers that own or have ordered vessels from China, saying it violates international rules and U.S. laws, according to a statement seen by Reuters on Thursday. U.S. President Donald Trump's administration aims to partially pay for an American shipbuilding comeback with those fees, according to a draft executive order seen by Reuters. The CSA's members include China's COSCO Shipping, which is expected to be among the hardest hit by the fees proposed by the U.S.

President Donald Trump on Thursday threatened a 200% tariff on European wine, champagne and spirits if the European Union goes forward with a planned tariff on American whiskey, the Associated Press reported. The European tariff, which was unveiled in response to steel and aluminum tariffs by the U.S. administration, was expected to go into effect on April 1. But Trump, in a morning social media post, vowed a new escalation in his trade war if the EU pushes ahead with the planned 50% tariff on American whiskey. “If this Tariff is not removed immediately, the U.S.

The commerce ministry of India on Thursday assured domestic exporters, particularly those in labour-intensive sectors like leather and textiles, to protect their interests amid the US tariff threats, industry officials said, the Economic Times of India reported. The issues related to the country's exports were discussed during a virtual meeting chaired by Commerce and Industry Minister Piyush Goyal. Sectors like steel flagged concerns over the possible impact of US tariffs on exports.

It is important that Northern Ireland does not become “collateral damage” in any trade war between the US and EU, its deputy First Minister said, the Irish News reported. Emma Little-Pengelly said the north was in “a tricky situation” over trade, that she intended to highlight with ambassadors. Post-Brexit rules, set out in the Windsor Framework, aligns Northern Ireland trade processes with EU customs arrangements, while remaining part of the UK’s customs union.

A Thai business group on Thursday urged Prime Minister Paetongtarn Shinawatra to negotiate with the United States and consider lowering import taxes on U.S. goods, as the government met with the private sector to discuss U.S. trade policy, Reuters reported. The meeting comes ahead of a deadline U.S. President Donald Trump has set next month for federal agencies to complete comprehensive reviews of a range of trade issues, including analyses of persistent U.S. trade deficits.

Northvolt, the Swedish electric vehicle battery startup, has filed for bankruptcy in Sweden, marking the end of a company once seen as Europe’s best hope of challenging the dominant Asian battery industry, The Guardian reported. The company said in a statement that it had been unable to “secure the necessary financial conditions to continue in its current form” in Sweden. After the bankruptcy filing, a court-appointed trustee will oversee the sale of Northvolt’s business and assets while settling its outstanding debts.

President Donald Trump's increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. and drawing swift retaliation from Europe, Reuters reported. Trump's action to bulk up protections for American steel and aluminum producers restores effective global tariffs of 25% on all imports of the metals and extends the duties to hundreds of downstream products made from the metals, from nuts and bolts to bulldozer blades and soda cans.

Brazil's Finance Minister said on Wednesday that the country would not immediately retaliate against tariffs imposed by the United States on steel and aluminum imports, instead seeking talks, with the government noting it will consider all actions, Reuters reported. U.S. President Donald Trump's increased tariffs on all steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. and drawing swift retaliation from Canada and Europe.

Telecommunications company Mitel Networks Corp filed for Chapter 11 bankruptcy protection in Texas late Sunday, seeking to complete a restructuring that will eliminate $1.15 billion in debt, Reuters reported. Mitel entered bankruptcy with $1.3 billion in debt. The company's debt has hampered its ability to quickly adjust to changing demands as businesses shifted to remote and hybrid work in the wake of the COVID-19 pandemic, according to court documents filed on Monday.