Headlines

Nidec Corp will release a plan this week to get its business back on track, people familiar with the matter say, after an accounting scandal that has put the company at risk of delisting and caused its debt to be downgraded to junk status, Bloomberg News reported. The plan will be announced as soon as Wednesday and will include revisions to past financial results, more details on how the issues came to light and the steps that will be taken to prevent a repeat, said one of the people, who asked not to be identified because the information isn’t public.

XTL Biopharmaceuticals Ltd. reported on Friday that its wholly owned subsidiary, The Social Proxy Ltd., has filed a formal application for insolvency proceedings with an Israeli court, Investing.com reported. The announcement was made in a press release statement included in a filing with the U.S. Securities and Exchange Commission. The company stated that the application for an "Order for the Opening of Proceedings" was submitted in accordance with the Israeli Insolvency and Economic Rehabilitation Law, 2018.

Air Antilles officially requested to enter judicial administration at the Pointe-à-Pitre commercial court in Guadeloupe, following its inability to meet financial obligations. The court's decision comes after months of operational suspension and the failure of attempts to recapitalize the company under its current ownership structure, AviaciOnline.com reported. The company's economic situation became critical following the suspension of its operator's certificate by the French DSAC (Civil Aviation Safety Directorate).

Canada's Prime Minister Mark Carney will likely visit India the first week of March and sign deals on uranium, energy, minerals ​and artificial intelligence, Dinesh Patnaik, India's High Commissioner to Canada said in an interview, Reuters reported. Carney is making all-out efforts to diversify Canada's alliances beyond the U.S., its top ‌trade partner. In Davos last week, he earned a rare standing ovation for saying the old rules-based order is over and called on middle powers like Canada to build coalitions to shape a fairer, more resilient world.

The Bank of Canada is widely expected to keep its policy interest rate ​on hold at 2.25% on Wednesday but economists and money markets are divided over where Canada's monetary policy cycle ‌is headed for the rest of the year due to economic uncertainty, Reuters reported. From December, money markets have started betting on odds of a rate hike late this year after a long pause for most of the year. But some economists differ given the uncertainty around the upcoming renegotiations of the United States-Mexico-Canada (USMCA) free trade pact.

Canadians remain cautious with their spending, with retailers registering a pullback in sales for the final month 2025 that rounds out a year of choppy trade, the Wall Street Journal reported. Retail sales in November increased 1.3% from the month, only for sales to drop an estimated 0.5% in December, based on an advance tally of receipts by the national data agency. November’s increase, while the strongest in five months and modestly sharper than the 1.2% rise in sales that economists had expected, followed weakened sales the previous two months, including a 0.3% slide in October.

India plans to slash tariffs on cars imported from the European Union to 40% from as high as 110%, sources said, in the biggest opening yet of the country's vast market as the two sides close in on a free trade pact that could come as early as Tuesday, Reuters reported. Prime Minister Narendra Modi's government has agreed to immediately reduce the tax on a limited number of cars from the 27-nation bloc with an import price of more than 15,000 euros ($17,739), two sources briefed on the talks told Reuters.

Chief justice Geoffrey B. Morawetz of the Superior Court of Justice of Ontario is set to retire on May 15 after nearly seven years in the role, LawTimesNews.com reported. Morawetz has been a judge for over 21 years, having been appointed to the bench in 2005. For four years, he led the team on Toronto’s Commercial List, which handles complex commercial issues. He became Toronto’s regional senior justice on December 18, 2013. Read more.

Rocked by an avalanche of growth-sapping shocks, countries around the world are tearing up savings plans and rolling out large fiscal stimulus packages financed by bumper budget deficits, the Wall Street Journal reported. From slow-growing Europe to the U.S. and parts of Asia, where multitrillion-dollar investments in artificial intelligence are fueling demand, the spending spree is expected to boost economic growth and jobs in the near term. Global growth could accelerate to a 3% annual rate over the next six months as a result, according to JPMorgan.

U.K. government borrowing costs have fallen after Sir Keir Starmer blocked leadership rival Andy Burnham from standing as an MP, The Telegraph reported. The yield on benchmark 10-year gilts, as U.K. government bonds are known, fell as low as 4.47pc early on Monday, compared to a high of 4.51pc on Friday in the wake of the Gorton and Denton by-election announcement. Labour’s ruling National Executive Committee (NEC) blocked Mr Burnham from standing in the by-election by eight votes to one on Sunday, quashing an imminent threat to the Prime Minister’s leadership.