Headlines

Fewer Canadians are shopping for U.S. homes, new data shows, amid anecdotes that President Trump’s tariff and immigration policies have put off home buyers from across the border, Mansion Global reported. The number of Canadians house hunting in the U.S. via Redfin plunged more than 26% in May compared to a year ago. Overall searches on the listing site took a very slight dip that month, but the decline was nowhere near enough to explain the large dropoff in Canadian shoppers, according to a report from Redfin on Monday.

Hundreds of millions of dollars of FTX customer claims are at risk of being held up or potentially not being paid because the account holders live in China, Afghanistan or 47 other areas that restrict cryptocurrency activity, WSJ Pro Bankruptcy reported. A creditor trust set up by the defunct crypto exchange said last week that it shouldn’t make distributions to customers in those “potentially restricted” markets until it determines that it can do so without breaking foreign laws.

Due to a challenging financial position, with limited liquidity and limited resources to satisfy its short-term and long-term obligations, Norwegian surveyor Argeo has decided to file for bankruptcy, Splash247.com reported. The company said on Monday that the formal filing will take place today. Its Norwegian subsidiaries, Argeo Survey, Argeo Robotics and Argeo Multiclient, will also file for bankruptcy. It is also expected that the company’s subsidiaries in Scotland, Singapore, and the U.S. will file for bankruptcy as well.

Landa Digital Printing, the Israel-based developer of Nanographic digital printing technology, has filed for court protection as it grapples with significant financial challenges, Label & Narrow Web reported. According to reports in Israeli media, including tech news outlet Ctech, the company is burdened with approximately $516 million in debt and has encountered a critical cash flow shortfall following the abrupt withdrawal of shareholder funding. The move comes after years of heavy investment and limited commercial return.

Holders of a defaulted Venezuelan bond, some creditors and bidders that participated in a U.S. auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum filed objections to the auction's recommended outcome, court documents released on Monday showed, Reuters reported. The challenge to the $7.4 billion offer by a group led by a unit of miner Gold Reserve could again derail the sale. Citgo, Venezuela's priced foreign asset, has been put on the auction block to pay creditors who lost billions to the South American country's expropriations and defaults.

A private Russian space company is facing bankruptcy amid a broader pattern of industry failures, underscoring the mounting challenges facing Russia’s once-ambitious commercial space sector, The Moscow Times reported. SR Space, founded in 2020 by aerospace entrepreneur Oleg Mansurov, is the latest in a string of private ventures on the verge of collapse. Russia’s Federal Tax Service has initiated bankruptcy proceedings against the firm after freezing its accounts at four banks earlier this year over unpaid tax obligations, the Kommersant business daily reported.

China has long been Taiwan’s most important trading partner, the main buyer of its exports and the place where many of its companies make their products, the Wall Street Journal reported. China is also Taiwan’s greatest threat and claims that the island democracy is part of its territory. Now, Taiwan’s ruling political party says it wants to do more to dismantle the commercial ties that for decades have propelled Taiwan’s economic growth. President Lai Ching-te is calling for companies that make semiconductors — Taiwan’s main industry — to stop buying from and selling to China.

Specialised life insurance group Athora has agreed to buy U.K. insurer Pension Insurance Corporation (PIC) for about 5.7 billion pounds ($7.78 billion), both companies said on Thursday, Reuters reported. Athora Holding, which has 76 billion euros ($89.70 billion) of assets under administration (AuM), is backed by U.S. alternative asset manager Apollo. Reinet Investments, which holds 49.5% of PIC, had said earlier in the day it was in advanced talks with Athora to sell its stake in PIC.

U.S. President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other nations that would go into effect on Aug. 1, the Associated Press reported. Trump provided notice by posting letters on Truth Social that were addressed to the leaders of the various countries. The letters warned them to not retaliate by increasing their own import taxes, or else the Trump administration would further increase tariffs.

One of Germany’s largest banking groups is changing its stance on cryptocurrencies, Benzinga reported. The Sparkassen, also known as the Savings Banks Finance Group, is preparing to launch cryptocurrency trading services for its customers, according to a Bloomberg report released on Monday. “The Savings Banks Finance Group will provide reliable access to a regulated crypto offering,” the group reportedly said. The Sparkassen intends to offer its cryptocurrency trading services through DekaBank, the group’s asset management and capital markets subsidiary, according to Bloomberg.