Bermudian-domiciled artificial intelligence firm Afiniti Ltd, which once said it would bring 1,000 jobs to the island, filed for Chapter 15 bankruptcy recognition in the U.S., the Royal Gazette reported. “We are continuing to make progress on our balance sheet restructuring, which will strengthen our financial foundation and position us well for future growth and success,” said Hassan Afzal, Afiniti’s chief executive.

Sweden’s Northvolt AB is likely to complete an expected funding round of about $300 million next week, as the troubled battery-cell maker races to get its finances on a more stable footing, Bloomberg News reported. The final steps are being drawn out because of the complex documentation needed for the deal involving customers, investors and lenders, said the person, who asked not to be identified discussing a private matter. While the bailout is progressing, the timeline to complete the new package may yet move, the person added.

Thames Water Utilities Ltd. has started a process to raise at least £3.3 billion ($4.3 billion) in equity that it needs to stay afloat, Bloomberg News reported. The UK’s largest water and sewage operator began the procedure in the past week, meaning potential investors now have access to a data room that provides sensitive information about the company. Thames and its adviser, Rothschild & Co., have approached numerous potential investors, including Brookfield Asset Management and Carlyle Group Inc.

Light has filed for bankruptcy protection in the U.S., a step by the Brazilian electric utility company to complete a restructuring deal that creditors approved in May in its home country, WSJ Pro Bankruptcy reported. Light on Tuesday filed for chapter 15 in the U.S. Bankruptcy Court in Houston. Light, which provides energy for most of Rio de Janeiro, began a reorganization in Brazil in 2023, as well as in England in July. The company has assets of $582.1 million and carries more than $2.1 billion in debt, including two issuances of U.S. notes totaling $600 million.

The National Company Law Tribunal (NCLT) faces significant operational challenges due to vacant positions, a Times of India report highlighted on October 15. Out of the 63 sanctioned seats, including the president, 19 are vacant. At the end of September, 11 members retired, adding to the existing eight vacancies, the report (by Sidhartha) said. Currently, only 13 out of 30 courts are operational full-day while 12 function for half-day because of the shortage of members.

A subsidiary of corpdSweden's Northvolt filed for bankruptcy on Tuesday after the project it was developing was cancelled, court filings showed, while the rest of the cash-strapped battery making group continued to consolidate operations, Reuters reported. The Northvolt Ett Expansion AB unit had debts estimated at between 2 billion and 3 billion Swedish crowns ($194 million and $290 million), a court-appointed bankruptcy trustee told business daily Dagens Industri.

Germany’s government has selected banks to arrange a potential selldown of power company Uniper SE, which could rank among the country’s biggest share sales in recent years, Bloomberg News reported. Citigroup Inc., Deutsche Bank AG and UBS Group AG have been appointed as joint global coordinators on the potential offering, the people said, declining to be identified because the information is private. More banks could be added to the lineup ahead of the share sale in the first quarter of next year.

Mexico wants to reduce its dependence on imports from China and is asking some of the world’s biggest manufacturers and tech firms operating in the country to identify Chinese products and parts that could be made locally, the Wall Street Journal reported. The administration of leftist President Claudia Sheinbaum, who took office last week, wants U.S.

Colombia’s central bank cut borrowing costs to a two-year low while ignoring President Gustavo Petro’s calls for an even bigger reduction. The board also elected Governor Leonardo Villar for a second four-year term, Bloomberg News reported. The board split once more as it lowered its benchmark rate by half a percentage point to 10.25%, Villar told reporters on Monday. The move was correctly forecast by 20 of 27 economists in a Bloomberg survey, while the others expected a deeper cut, to 10%.

Chile’s economic activity unexpectedly contracted in August on a decline in services, corroborating the central bank’s message that more interest rate cuts are on the way, Bloomberg News reported. The Imacec index, a proxy for gross domestic product, fell 0.2% on the month, matching the worst estimate in a Bloomberg survey of analysts that had a median forecast of 0.3% growth. From the year earlier, activity gained 2.3%, the central bank reported on Tuesday.