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Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.
Just three years ago, Bowling Green, Ky., was celebrating the largest industrial investment ever made in the city, a new sprawling electric-vehicle battery factory that would create 2,000 jobs. Today, the building is there. The jobs aren’t, according to a Wall Street Journal analysis. The Chinese-owned company behind the factory quietly stopped working on the $2 billion plant last September, according to current and former employees. Now there is just a massive metal shell of a building with no interior equipment.
A consortium led by U.S. investment firm RedBird Capital Partners has agreed to buy the publisher of Britain’s 170-year-old Daily Telegraph newspaper for about 500 million pounds ($674 million), the two sides said Friday, the Associated Press reported. Redbird said it has reached an agreement in principle to become controlling owner of the Telegraph Media Group, ending a lengthy takeover saga for the conservative-leaning newspaper.
A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation, Bloomberg reported. In a survey of 72 monetary authorities, 43% said they expected their gold reserves to increase, up from 29% a year earlier and the highest figure in eight years of data collected by the World Gold Council and YouGov. None anticipated a decline. Central banks have been one of the most important drivers of a long-running gold rally that has seen prices double since late-2022.
Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.
Canada recorded a 10% increase in insolvency filings in April compared to the previous month, reversing a trend of easing that began earlier in the year, MPAMag.com reported. The latest data from Innovation, Science and Economic Development Canada show that both consumer and business insolvencies contributed to the rise, with total filings reaching 11,950, up from 10,864 in March. The increase occurred during a period of economic uncertainty tied to slowing growth, trade policy concerns, and persistent cost-of-living pressures.
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The U.S. and China agreed to a preliminary plan to ease trade tensions, which could revive the flow of sensitive goods between the world’s two largest economies, Bloomberg News reported. American and Chinese negotiators in London said both sides agreed on a framework on how to implement the consensus the two sides reached in the prior round of talks in Geneva. The U.S. and Chinese delegations will now take the proposal back to their respective leaders, according to China’s chief trade negotiator Li Chenggang. While full details of the pact weren’t immediately available, U.S.
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Mexico's central bank may pause cuts to its benchmark interest rate in the face of an inflationary rebound, deputy governor Jonathan Heath said in an interview with local newspaper El Economista published on Wednesday, Reuters reported. Mexico's annual inflation rate accelerated in May and exceeded the upper-end of the central bank's target range of 3% plus or minus one percentage point. "We expect this small rebound to be temporary and inflation to resume its downward trajectory in the coming months", Heath said.
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4Front Ventures Corp., a vertically integrated cannabis operator, announces that, following its previously announced U.S. bankruptcy petition, that it has made an assignment into bankruptcy pursuant to the Canadian Bankruptcy and Insolvency Act, according to a company press release. B. Riley Farber has been appointed as the trustee in the Canadian Bankruptcy Proceedings. Further information may be obtained from the trustee at [email protected] or on the case webpage www.brileyfarber.com/engagements/4frontventures/.
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