Canadian Prime Minister Mark Carney says he’ll announce Thursday the first wave of major projects to be fast-tracked under a new law passed by his government, Bloomberg News reported. The law aims to speed up regulatory reviews for projects deemed to be in the national interest, with the goal of permitting them within two years. Carney wants to expand Canada’s infrastructure, such as ports and rail lines, to allow exporters to reach new trading partners and reduce their reliance on the US.

Canada will pause its electric-vehicle sales mandate that was set to take effect next year to ease the financial squeeze the domestic auto sector faces from hefty Trump administration tariffs, the Wall Street Journal reported. Prime Minister Mark Carney added Friday that officials would review the EV sales policy, implemented by his predecessor Justin Trudeau, alongside a broader review of how the Canadian economy can remain competitive while reducing greenhouse gases.

A Quebec Superior Court judge has declared the North American branch of battery manufacturer Northvolt insolvent as the provincial government seeks to recover $260 million owed to it, CBC.ca reported. Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the province.

The last group of people, companies and others owed money by Laurentian University when it declared insolvency four-and-a-half years ago are finally getting at least some of what they're owed, CBC.ca. The plan to pay back Laurentian's final creditors is in the works with last week's completion of a real estate deal between Infrastructure Ontario and Laurentian University. Back in September of 2022, a plan was put before the unsecured creditors for a vote.

Prime Minister Mark Carney rolled out billions of dollars in relief for Canadian businesses and workers battered by tariff wars with the country’s two largest trading partners, Bloomberg News reported. Carney unveiled the aid package on Friday, hours after jobs data revealed that Canada’s unemployment rate jumped to a four-year high. The plan targets companies hit by US and Chinese levies, and its centerpieces are a C$5 billion ($3.6 billion) fund for businesses to adapt and a “Buy Canadian” federal procurement program.

Canada unexpectedly shed jobs for a second month running in August, extending a soggy summer for a labor market that is showing signs of weakness broadening beyond areas directly hit by tariffs and trade worries, the Wall Street Journal reported. Employers in the country cut a net 65,500 jobs last month, the steepest decline since the start of 2022 when another Covid-19 variant forced widespread lockdowns, Statistics Canada said Friday. That builds on the 40,800 jobs shed in July to leave the unemployment rate 0.2 percentage point higher, at 7.1%.

The Quebec government is pulling the plug on a $7-billion electric-vehicle battery project near Montreal and trying to recoup some of its investment, BNN Bloomberg reported. Economy Minister Christine Fréchette announced Tuesday that the government is cutting its losses on the planned Northvolt battery factory after spending $510 million on the troubled venture, once touted as the largest private investment in the province’s history. The Quebec government pledged up to $2.9 billion in financing for the project, while Ottawa committed up to $4.4 billion.

Montreal-based online fashion retailer Ssense plans to file for bankruptcy protection as its primary lender attempts to force a sale of the company, a Ssense spokesperson told CBC News in an email. According to the company, its primary lender has placed Ssense under Companies' Creditors Arrangement Act (CCAA) protection in order to launch a sale. Ssense says that its lender made the move without the company's consent. Lenders include Bank of Montreal, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia (Scotiabank) and JPMorgan Chase & Co.

Laurentian University has confirmed it is finalizing a deal on Aug. 28 to sell several properties to the province for $53.5 million, CBC.ca reported. Laurentian will use proceeds from the sale to pay creditors, following an insolvency in 2021. "The completion of the sale of real estate assets to the Province is a critical step in enabling Laurentian University to complete the requirements of the CCAA [Companies' Creditors Arrangement Act] process," Laurentian president and vice-chancellor Lynn Wells said in a statement.