Several German subsidiaries of First Brands Group have filed for insolvency, in a sign that the fallout from the US car parts supplier’s September bankruptcy is rippling through to its foreign operations, Bloomberg News reported. The insolvencies affected entities of automotive supplier Plastic Manufacturing Group, which is owned by First Brands, according to a statement from Schultze & Braun, whose lawyer has been appointed provisional administrator.

Laurentian University has sold the historic Bell Mansion to a local Sudbury developer for $1.25 million. The university listed the building, which previously served as home to the Art Gallery of Sudbury, following an insolvency in 2021. Earlier this year, Laurentian finalized a $53.5-million deal with the province to sell several buildings on campus, including the East Residence building, the Northern Ontario School of Medicine building, and a security and maintenance building (along with the adjacent parking lots).

Canada said Tuesday it intends to run wider deficits to finance spending and tax measures aimed at unleashing the massive private-sector investments the economy needs to rebuild amid a protectionist U.S., the Wall Street Journal reported. To offset some of the elevated costs, Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.

U.S. President Donald Trump said on Friday the United States and Canada will not restart trade talks but Canadian Prime Minister Mark Carney apologized to him for an Ontario political ad using former President Ronald Reagan saying that tariffs spell disaster, Reuters reported. "I like him a lot but what they did was wrong," he said. "He apologized for what they did with the commercial because it was a false commercial." Carney did not immediately respond to requests for comment.

The Bank of Canada signaled it has emptied its toolbox to help an economy hurting from the trade row with the U.S., the Wall Street Journal reported. Canada’s central bank cut its main interest rate on Wednesday, to 2.25%, and said the rate is “at about the right level” to keep inflation intact at its 2% target. It’s taking this approach even though its own economic outlook is bleak over the next two years. Gov. Tiff Macklem said that President Trump’s shift on trade has scarred the economy.

Job seekers face an increasingly difficult market as new Statistics Canada data reports vacancies were the lowest in almost a decade, BNNBloomberg reported. The Statistics Canada report states vacancies across Canada were 457,400 in August. Vacancies were 435,500 in August 2017. The numbers of this year coincide with a rise in the unemployment rate. The job vacancy rate, which corresponds to the number of vacant positions as a proportion of total labour demand, was 2.6 per cent in August. On a year-over-year basis, the unemployment-to-job vacancy ratio was up by 0.7 in August 2025.

U.S. President Donald Trump said on Thursday he had agreed with President Xi Jinping to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing, Reuters reported. Trump's face-to-face talks with Xi in the South Korean city of Busan, their first since 2019, marked the finale of a whirlwind Asia trip on which he also touted trade breakthroughs with South Korea, Japan and Southeast Asian nations.

New Fortress Energy, a U.S. liquid natural gas (LNG) infrastructure firm, is considering restructuring its $9 billion debt via a U.K. “scheme of arrangement” rather than filing for chapter 11 bankruptcy in the U.S., according to Bloomberg News. This court-supervised U.K. process could be cheaper and less disruptive to the company’s contracts than a typical U.S. bankruptcy proceeding.