Swiss software company LzLabs GmbH sought US bankruptcy court recognition of its foreign insolvency case to halt patent infringement litigation brought by tech giant IBM and preserve its stateside intellectual property, Bloomberg Law reported. LzLabs faces severe financial distress following a 20 million pound ($26.7 million) UK judgment issued in IBM’s favor in March as well as IBM’s parallel US suit, the company said in a Chapter 15 bankruptcy petition filed on Oct.

Canadian artificial intelligence company 3MotionAI Inc. is seeking U.S. bankruptcy court recognition of its Ontario insolvency case and aims to halt a competitor’s noncompete litigation in Delaware, Bloomberg Law reported. 3MotionAI is looking to pause a suit brought by VelocityEHS Holdings Inc. as it prepares to sell its assets, according to a chapter 15 petition filed on Thursday in the U.S. Bankruptcy Court for the District of Delaware.

Donald Trump has said he is adding 10% to US tariffs on goods imported from Canada, after the province of Ontario aired an anti-tariff advertisement featuring Ronald Reagan, BBC.com reported. Calling the advert a "fraud", the US president lashed out at Canadian officials for not removing it ahead of the World Series baseball championship. Prime Minister Mark Carney said in response that Canada was ready "to continue to build on the progress we had been making" in trade talks, but added that it was developing trade relationships with other countries.

Mexican President Claudia Sheinbaum said on Monday she spoke with U.S. President Donald Trump on Saturday and that the two countries will extend a trade deadline for "a few more weeks" to discuss pending issues with Washington, Reuters reported. The U.S. agreed in July to pause for 90 days an increase in tariffs on some Mexican goods to 30% pause to continue talks over that period with the goal of signing a new trade deal.

Global public debt is rising faster than at any point in modern history, and this time, it is not just the historically large spenders driving it, EuroNews.com reported. The International Monetary Fund’s latest Fiscal Monitor warns that the public finances of major powers, led by the United States, have become a systemic global risk. "Although the number of countries with debt above 100% will be steadily declining in the next five years, their share in world GDP is projected to rise," the report stated.

President Donald Trump said he would immediately halt all trade negotiations with Canada, citing a Canadian advertisement against his signature tariffs plan featuring the voice of former President Ronald Reagan, Bloomberg News reported. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A.,” Trump wrote on his Truth Social platform.

Prime Minister Mark Carney said on Friday that Canada stands ready to resume trade talks with the United States that President Donald Trump halted over an anti-tariff advertisement issued by Ontario's provincial government, Reuters reported. Trump terminated the talks on Thursday over the video which used Republican icon, former President Ronald Reagan, saying tariffs cause trade wars and economic disaster. In a late-night social media post, Trump called the ad fraudulent.

Bermuda-based captive insurer Northeastern Insurance Co. Ltd. has filed for Chapter 15 bankruptcy protection in the US District Court for the Southern District of New York, citing financial strain caused by the state's extension of the statute of limitations on sex abuse cases, InsuranceBusinessMag.com reported. According to court filings, Northeastern decided, in 2017, to stop underwriting new business and enter a runoff process. At the time, the company said it maintained adequate reserves.

China's Communist Party elite vowed on Thursday to build a modern industrial system and make more efforts to achieve technological self-reliance, moves it sees as key to bolstering its position in its intensifying rivalry with the United States, Reuters reported. As expected, the Party's Central Committee also promised more efforts to expand domestic demand and improve people's livelihoods - long-standing goals that in recent years have been little more than an afterthought as China prioritised manufacturing and investment - without giving many details.

Motor vehicles and parts led retail sales increases for the month of August, according to new data from Statistics Canada, BNNBloomberg reported. For a third consecutive month, motor vehicle and parts dealerships showed an increase of 1.8 per cent. It was led by higher sales at new car dealers at a 2.3 per cent bump, followed by used car dealerships, which saw sales grow by 1.5 per cent. While auto sellers pressed the acceleration pedal in August, sales at gas stations and fuel vendors continued downhill with a decrease of two per cent.