Canadian regulators are stepping up the fight against online fraud and scams by shutting down thousands of fake crypto platforms and websites that are believed to be orchestrating investment scams, InvestmentExecutive.com reported. In a joint release Thursday, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) reported that between June 5 and Nov. 23 they’ve taken down more than 3,900 fake platforms and scam websites that utilized upwards of 6,900 web addresses.

A fund run by life sciences venture firm Apple Tree Partners filed for bankruptcy months after alleging that its Russian billionaire backer, Dmitry Rybolovlev, hasn’t met financing commitments because of liquidity problems at his family office, WSJ Pro Bankruptcy reported. New York-based Apple Tree Life Sciences filed for chapter 11 reorganization Tuesday in the U.S. Bankruptcy Court in Wilmington, Del., with assets of more than $1 billion and liabilities of less than $500,000.

Do Kwon, a crypto entrepreneur who created two virtual currencies that spectacularly melted down, prompting a market crisis in 2022, was sentenced to 15 years in prison yesterday, the New York Times reported. Kwon became a cautionary tale of crypto hubris when the digital currencies he designed — TerraUSD and Luna — lost all their value practically overnight. The crash caused a chain reaction that led to the collapse of a string of major crypto companies. Mr.

Canada logged its first trade surplus in eight months in September as exports rebounded and domestic demand showed signs of softening, the Wall Street Journal reported. The country recorded a small merchandise-trade surplus of 153 million Canadian dollars, the equivalent of about $110.9 million, Statistics Canada said Thursday. That was essentially a balanced trade position, as exports jumped even as imports pulled back. The shift in the balance from a revised C$6.43 billion deficit in August was considerably stronger that the C$4.5 billion shortfall that economists expected.

Mexico’s automotive industry posted sharp declines across cars, light trucks and heavy-duty commercial vehicles in November, as road blockades, labor stoppages and softer global demand disrupted factory operations and slowed exports, Freight Waves reported. The country’s heavy-vehicle manufacturers — tractor-trailers, trucks and buses — recorded significant declines in November, according to data from Mexico’s National Association of Bus, Truck and Tractor Producers (Anpact).

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, is set to be sentenced in New York federal court on Thursday for fraud and conspiracy, Reuters reported. Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.

Mexico's decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Mexican President Claudia Sheinbaum's government approved on Wednesday raising import tariffs next year on hundreds of items from countries it does not have trade agreements with, including China and India, to protect local jobs and manufacturing. But the move also comes amid U.S.

Bank of Canada Gov. Tiff Macklem is trying to throw some cold water on signs showing that the country’s economy is suddenly heating up, the Wall Street Journal reported. The latest readings on the labor market show a steep drop in the unemployment rate and after three months of strong job growth. Revised data also now indicate the economy was healthier than previously believed before the U.S. trade conflict. Also, third-quarter growth blew past tepid expectations.

Newfoundland and Labrador's consumer insolvency rate saw slowed growth in the latest updates published by the Office of the Superintendent of Bankruptcy on Tuesday, but still far outpaced the national average, CBC.ca reported. The province saw a 5.9 per cent increase in bankruptcies and proposals for the 12-month period ending on Oct. 31. That's down from 8.9 per cent the month before, but a far cry from the national average of 0.7 per cent in the latest update. Sean Stack, a licensed insolvency trustee in St.

President Donald Trump threatened to impose an additional 5% tariff on imports from Mexico if the country did not release water that his administration says must be allowed to flow under a treaty, escalating a fight with a major trading partner, Bloomberg News reported. “I have authorized documentation to impose a 5% Tariff on Mexico if this water isn’t released, IMMEDIATELY,” Trump posted Monday on social media. “The longer Mexico takes to release the water, the more our Farmers are hurt.