Headlines

The Second District Court for Commercial Bankruptcy has reported progress in the bankruptcy proceedings of Altos Hornos de México (Ahmsa) and its subsidiary Minera del Norte ( Minosa ), focusing on the review of labor lists that will allow for determining payment to workers as preferred creditors, BNamericas.com reported. In a court ruling dated October 1, the court detailed that the Federal Attorney for Labor Defense (Profedet) already has the necessary material to review the lists submitted by the trustee, as well as the information provided by the Mexican Social Security Institute (IMSS).

Land-based salmon farmer Gaia Salmon has filed for bankruptcy following a court-ordered compensation payment and heavy financial losses in 2024, SalmonBusiness.com reported. Chief executive Trine Sæther Romuld confirmed to the publication that the company was unable to secure further financing. “Despite great efforts from our employees and strong support from the local community, we have unfortunately not succeeded in reaching a financing solution,” she said.

The National Company Law Tribunal (NCLT) has directed for initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-ridden group Jaiprakash Associates Limited, for a default of Rs 45 crore, the Economic Times of India reported. The direction of Cuttack bench of NCLT came after it admitted a plea filed by the company's operational creditor Sidhgiri Holdings Pvt Ltd, to which Bhilai Jaypee Cement owed Rs 45 crore against supply of coal.

Some former Hudson’s Bay employees have filed a class-action lawsuit seeking a share of the defunct retailer’s pension surplus, BNNBloomberg reported. The court filing was made on behalf of workers who were enrolled in a pension plan offered by Simpsons, a rival department store HBC bought in the 1970s. The takeover made HBC the administrator of the Simpsons pension plan, which had a surplus at the time. The court filing does not say how big the surplus was when the acquisition happened, but says annual pension statement reports HBC sent Simpsons workers showed that as of Jan.

Indonesia’s central bank surprised markets by leaving interest rates on hold at its October meeting, pausing after three consecutive cuts as it keeps an eye on the rupiah, the Wall Street Journal reported. Bank Indonesia held its benchmark seven-day reverse repo rate at 4.75% on Wednesday. The rupiah strengthened slightly after the decision, which Gov. Perry Warjiyo said is consistent with the central bank’s expectations of low inflation within the 1.5%-3.5% target range and its mandate to maintain currency stability amid global uncertainty.

With trade hostilities between the world’s two economic superpowers back on, China has sent the unmistakable message that it is ready to fight. A week ago, it invoked its grip over virtually the entire global supply of critical materials, breaking a delicate trade détente between the two countries. Beijing feels it has another ace card: its booming factories. Even in the face of sky-high tariffs by President Trump, China’s manufacturing sector is helping to maintain growth and give the country’s top leader, Xi Jinping, a stronger hand to face down the United States.

Japan’s exports rebounded in September, snapping a four-month run of declines despite U.S. tariffs in a positive sign for the economy, but one that is unlikely to dispel concerns about the longer-term impact of trade policy, the Wall Street Journal reported. Outbound shipments rose 4.2% from a year earlier last month, bouncing back from August’s 0.1% decline, finance ministry data showed Wednesday. Still, the September print undershot the 5.7% rise expected in a poll of economists by data provider FactSet.

A plan to cull the smallest listings on the Tokyo Stock Exchange is spurring a record number of buyouts of young companies in Japan, reflecting Tokyo’s push to create more billion-dollar startups to better match the country’s global standing in scientific research, the Japan Times reported. Regulators are ratcheting up pressure on startups to gain more scale before debuting on the stock market, warning that the TSE will seek to delist companies that fail to reach a market value of at least ¥10 billion ($66 million) within five years of going public, starting 2030.

Inflation in Canada quickened more than anticipated last month, touching a seven-month high as price pressures continue to simmer in the country, the Wall Street Journal reported. The consumer-price index rose 0.1% in September from the prior month and 2.4% from a year earlier, Statistics Canada said Tuesday. That was hotter than the 2.2% annual inflation economists had expected and marked the second straight month that inflation has accelerated, after picking up to 1.9% in August.

Bank of Ireland chief executive Myles O’Grady will hope the lender is a step closer to putting the fallout from the UK motor finance debacle behind it, after sharply increasing the amount of money it has set aside for payouts arising from the issue, the Irish Times reported. The issue, which is close to industry wide in the UK, stems from whether motor finance customers were being overcharged because of historical use of discretionary commission arrangements between car dealers and lenders.