A four-week jury trial in a historical Catholic sexual abuse case was supposed to begin yesterday at B.C. Supreme Court in Vancouver, but an “11th-hour” bankruptcy declaration by one of the defendants has delayed the proceeding, CBC.ca reported.

The Laurentian University Faculty Association is filing a challenge under the Canadian Charter of Rights and Freedoms against the Ontario government, CBC.ca reported. The union says a $35-million loan the province gave Laurentian in 2022, to help the university during its insolvency, came with too many strings attached. The loan agreement includes a clause which says Laurentian would need prior consent from the province to “establish, sponsor, administer or otherwise participate in any defined benefit pension plan” until the loan is fully repaid in 2038.

Canada’s latest insolvency data shows household financial strain continuing to climb, WealthProfessional.ca reported. New figures from the Office of the Superintendent of Bankruptcy report a 4.8% year-over-year increase in consumer insolvencies in Q3 2025, reaching 36,256 filings and marking the highest quarterly total since 2009 and the third-largest since tracking began in 1987. Filings also rose 3.3% from the previous quarter. Wesley Cowan, licensed insolvency trustee and vice chair of CAIRP says these numbers reflect real financial pain affecting Canadian households.

A proposed $3-million settlement has been reached against several former “directors and officers” at Laurentian University for the “alleged misuse and depletion” of the university’s retiree health benefit funds, leading to their cancellation during Laurentian’s insolvency, Sudbury.com reported. The directors and officers in question include several former presidents and senior administrators at Laurentian, including several who weren’t even around during Laurentian’s 2021-2022 insolvency restructuring, as well as some former board of governors members.

When Patrick O’Connell picks up the phone these days to help Prince Edward Islanders in financial distress, he’s hearing a familiar concern: the rising cost of living, which is driving people deeper into debt, CBC.ca reported. O'Connell, a licensed insolvency trustee for P.E.I. with Allan Marshall & Associates, said many of the Islanders he speaks with are struggling to make ends meet as everyday expenses continue to climb. He said last month was the busiest his firm has ever been on the Island, handling more insolvency files on P.E.I. than ever before.

President Trump’s tariffs are starting to take a big bite out of Canada’s economy, the Wall Street Journal reported. The U.S.’s second-largest trading partner is flirting with recession, unemployment has risen to its worst non-pandemic levels in almost a decade, and business investment has stalled. A country that sends three-quarters of its exports to the U.S., Canada has proven uniquely vulnerable to Trump’s tariffs on automobiles, steel, aluminum and lumber. Prime Minister Mark Carney has said the U.S.

Canada's services economy expanded in October for the first time in 11 months as businesses showed signs of adjusting to economic uncertainty, S&P Global's Canada services PMI data showed on Wednesday, Reuters reported. The headline Business Activity Index rose to 50.5 last month from 46.3 in September, posting its first move above the 50 threshold since November last year. A reading above 50 shows expansion in the sector. The new business index was in contraction for an 11th straight month even as it improved to 48.8 from 48.1 in September.

Canada will move to regulate fiat-backed stablecoins, the government announced Tuesday in its 2025 budget. The plan would create a legal framework for the issuance and use of stablecoins within Canada, aiming to bring oversight and clarity to a fast-growing corner of digital finance, Decrypt.com reported. “This legislation will require issuers to maintain and manage adequate asset reserves, establish redemption policies, implement risk management frameworks, and protect the sensitive and personal information of Canadians,” the budget said.

Laurentian University has sold the historic Bell Mansion to a local Sudbury developer for $1.25 million. The university listed the building, which previously served as home to the Art Gallery of Sudbury, following an insolvency in 2021. Earlier this year, Laurentian finalized a $53.5-million deal with the province to sell several buildings on campus, including the East Residence building, the Northern Ontario School of Medicine building, and a security and maintenance building (along with the adjacent parking lots).

Canada said Tuesday it intends to run wider deficits to finance spending and tax measures aimed at unleashing the massive private-sector investments the economy needs to rebuild amid a protectionist U.S., the Wall Street Journal reported. To offset some of the elevated costs, Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.