A day after being spurned by Kansas City Southern, Canadian National Railway is facing additional pressure from a major investor who wants CN to abandon its effort to buy the U.S. railroad, the Associated Press reported. The London-based investment firm TCI Fund — which owns about 5% of CN’s stock and about 8% of rival Canadian Pacific’s shares — said Monday that it is calling for a special CN shareholder meeting where it plans to nominate four new directors. TCI has said it thinks CN should overhaul its board, get a new CEO and refocus its efforts on improving its own operations.

The Canadian economy is moving closer to a point where the Bank of Canada will no longer need to continue adding stimulus through its quantitative easing (QE) program, but it is not there yet, Governor Tiff Macklem said on Thursday, Reuters reported. Macklem, in a speech the day after the central bank held its key rate at 0.25%, said it would eventually move to a reinvestment phase, where it bought only enough bonds to replace those that are maturing. This maintains stimulus but does not add new stimulus.

Just 160 Canadian businesses filed for insolvency in July, marking a 35-year low in new filings, according to new data from the Office for the Superintendent of Bankruptcy, the Financial Post reported.

A founder of Facedrive Inc., a Canadian ride-hailing startup whose shares have plunged 96% since early February, said in a statement that he received notice that the company is considering filing for bankruptcy protection as soon as this month, Bloomberg News reported.

Centerra Gold Inc. is claiming a Kyrgyz open-pit mine it once ran has flooded and poses safety and environmental risks, although the government-appointed administrator says the water has always been there, Bloomberg News reported. There may be at least 40 meters (131 feet) of water at the bottom of the Kumtor central pit, the Canadian mining company said on Tuesday in a statement, citing photos on Kumtor Gold Co.’s website and a company video posted mid August on Facebook.

Canadian courts have granted Laurentian University permission to extend its insolvency restructuring efforts into the new year, Sudbury.com reported. Laurentian asked that the stay of proceedings protecting it against its creditors be extended until Jan. 31, 2022, and that the maturity date for its bridge financing loans also be extended to the same date. In granting the motion presented by Laurentian in the brief court hearing on Friday, Chief Justice Geoffrey Morawetz said Laurentian has demonstrated significant progress in its restructuring efforts amid a difficult situation.

Centerra Gold Inc.’s units on Wednesday filed a motion in a U.S. Bankruptcy Court seeking penalties of $1 million a day against the Kyrgyzstan government, related to the seizure of the Canadian company’s Kumtor gold mine, Reuters reported. Centerra Gold said in May, its Kyrgyzstan units Kumtor Gold Co. (KGC) and Kumtor Operating Co. (KOC) commenced bankruptcy proceedings in a U.S. court following nationalization of the miner’s Kumtor gold mine by the former Soviet republic.

Laurentian University is asking for permission to extend its restructuring efforts into the new year, documents filed before the courts reveal, Sudbury.com reported. The university is in court once again Aug. 27, asking that the stay of proceedings protecting it against its creditors be extended until Jan. 31, 2022. At the same court date, Laurentian is also asking that the maturity date for more than $35 million in bridge financing loans also be extended until Jan. 31, 2022. The university announced Feb.

Prime Minister Justin Trudeau promised to introduce a two-year ban on foreign home buyers to tackle housing affordability in Canada if he’s re-elected, Bloomberg News reported. The proposed restriction is an attempt to cool a housing market that has soared during the Covid-19 pandemic. Surging prices have become a central issue in the campaign for the Sept. 20 vote, in which Trudeau hopes to regain a majority in parliament, with all three major parties promising crackdowns. “You shouldn’t lose a bidding war on your home to speculators.

Canadians are piling into mortgages at more than double the historical pace as the housing market appears to moderate after a pandemic boom, Bloomberg News reported. The total value of residential mortgages rose by 1.2% to C$1.73 trillion ($1.4 trillion) in June, according to data released Thursday by Statistics Canada. That’s the fastest monthly increase in loans borrowed for real-estate purchases since 2007. The spike in mortgages is evidence of Canadians’ demand for more living space during the Covid-19 pandemic, which sent sales and prices to record highs.