After securing a majority government in Canada last week, Prime Minister Mark Carney faces his biggest challenge: redefining trade with the U.S. under President Donald Trump, Reuters reported. Canada, the U.S. and Mexico must agree by July 1 ​to keep the deal as is, insulating most Canadian goods from U.S. tariffs, renegotiate it, or hold annual reviews until its 2036 expiry. Carney, under U.S. pressure for concessions, will push ‌for a revised deal this year that addresses tariffs against Canadian steel, aluminum and autos.

Canada’s inflation rate surged to 2.4% in March as the Iran war triggered a record increase in gasoline prices, though it came in slightly lower than economists expected, Bloomberg News reported. Headline inflation was projected to quicken to 2.6% last month, up from 1.8% in February. Excluding gasoline, the consumer price index was up 2.2% from a year earlier. Monday’s inflation data provides the first glimpse into the impact on prices in Canada of the conflict in the Middle East. The Bank of Canada has signaled that it plans to look through the short-term impact of the oil shock.

Canadian housing starts ​posted a surprise ‌decline in March, falling 6% ​from the ​previous month, data ⁠from the ​national housing agency ​showed on Friday, Reuters reported. The seasonally adjusted annualized ​rate of ​housing starts decreased to ‌235,852 ⁠units from a revised 250,961 units in ​February, ​the ⁠Canada Mortgage and Housing ​Corporation (CMHC) said. ​Economists ⁠had expected starts to rise ⁠to ​255,000. Read more.

Five years after Laurentian University declared insolvency in February 2021, some of the university’s creditors were paid what they were legally owed this winter, Sudbury.com reported. However, former LU employees fired during the insolvency restructuring owed severance pay still haven’t been paid, according to Laurentian’s faculty association. Laurentian sold property to the province last August for $53.5 million to fund a pool of money for its creditors stemming from its 2021-2022 insolvency restructuring under the Companies’ Creditors Arrangement Act (CCAA). On Jan.

The federal government is set to temporarily suspend the federal fuel excise tax on gas and diesel starting next week, Bloomberg News reported. Prime Minister Mark Carney made the announcement in Ottawa on Tuesday, just hours after his government secured a majority through three byelection wins. The suspension will come into effect on April 20 and last until Sept. 7, and it comes as global oil prices remain volatile amid U.S.-Iran tensions.

Reliance Logistics’ restructuring effort fell apart in its final weeks as cash flow dried up, a key customer disappeared, and lenders began pulling back equipment, TruckNews.com reported. Court filings show the B.C.-based carrier entered creditor protection on Jan. 2 but was deemed bankrupt on March 19 after failing to file a proposal. A report from the proposal trustee shows the company missed its cash flow projections by about $885,000 — roughly 90% of expected collections — leaving it with about $200 in cash and unable to meet basic obligations.

Huntington, Thorneloe University and the University of Sudbury were part of the founding federation of Laurentian in the early 1960s. For decades they offered classes taken by Laurentian students. But that ended abruptly after Laurentian became the first university in the country to declare insolvency, which also ended the main source of revenue for the formerly federated universities, CBC.ca.

MyndTec Inc., a Canadian-listed medtech firm specializing in neurostimulation-based rehabilitation devices for paralysis, has built its business around the FDA-cleared and Health Canada-licensed MyndMove system. The company’s model has relied heavily on proprietary technology and exclusive academic licenses to serve stroke and spinal cord injury patients. The company has announced it was unable to secure additional financing after its principal shareholder ceased funding, leaving it without liquidity to continue operations or meet obligations, TipRanks.com reported.

The Trump administration will try to resolve as many problems with the ​U.S.-Mexico-Canada trade agreement as it can before July 1, ‌but negotiations to rebalance the trade pact are likely to continue past that deadline, U.S. Trade Representative Jamieson Greer said on Tuesday, Reuters reported. Greer told an event ​at the Hudson Institute that the U.S. may need to ​take steps to exit the North American trade pact in ⁠order to continue the talks.

Canada’s services economy contracted for a fifth straight month in March as uncertainty related to the war in the Middle East contributed to a decline in new business and after higher fuel costs raised operating expenses, S&P Global’s Canada services PMI data showed on Monday, BNNBloomberg reported. The headline Business Activity Index rose to 47.2 last month from 46.5 in February. That marked the index’s highest reading in five months but it remained below the 50 no-change mark - a reading below 50 shows deterioration in activity.