Canada’s latest insolvency data shows household financial strain continuing to climb, WealthProfessional.ca reported. New figures from the Office of the Superintendent of Bankruptcy report a 4.8% year-over-year increase in consumer insolvencies in Q3 2025, reaching 36,256 filings and marking the highest quarterly total since 2009 and the third-largest since tracking began in 1987. Filings also rose 3.3% from the previous quarter. Wesley Cowan, licensed insolvency trustee and vice chair of CAIRP says these numbers reflect real financial pain affecting Canadian households.

A proposed $3-million settlement has been reached against several former “directors and officers” at Laurentian University for the “alleged misuse and depletion” of the university’s retiree health benefit funds, leading to their cancellation during Laurentian’s insolvency, Sudbury.com reported. The directors and officers in question include several former presidents and senior administrators at Laurentian, including several who weren’t even around during Laurentian’s 2021-2022 insolvency restructuring, as well as some former board of governors members.

Two weeks after U.S. President Donald Trump and South Korea's Lee Jae Myung met and announced they had resolved months of negotiations over tariffs and security issues, the two sides have yet to release any agreement on paper, Reuters reported. South Korean officials say the delay appears to centre on discussions over their request for Washington's blessing to build a nuclear-powered submarine, which Lee raised publicly when he met Trump on the sidelines of an Asia-Pacific forum in South Korea last month.

When Patrick O’Connell picks up the phone these days to help Prince Edward Islanders in financial distress, he’s hearing a familiar concern: the rising cost of living, which is driving people deeper into debt, CBC.ca reported. O'Connell, a licensed insolvency trustee for P.E.I. with Allan Marshall & Associates, said many of the Islanders he speaks with are struggling to make ends meet as everyday expenses continue to climb. He said last month was the busiest his firm has ever been on the Island, handling more insolvency files on P.E.I. than ever before.

European business sees a far greater impact in 2026 from U.S. tariffs and other trade tensions than in 2025, when front-loading mitigated the consequences, a survey by BusinessEurope showed on Monday, Reuters reported. The survey found that trade tensions were likely to pull 2025 gross domestic product down by 0.03 percentage points for the euro zone, the EU and a broader group of European countries. For 2026, the negative impact was likely to be 0.5 to 0.6 percentage points, with the euro zone faring worst.

President Trump’s tariffs are starting to take a big bite out of Canada’s economy, the Wall Street Journal reported. The U.S.’s second-largest trading partner is flirting with recession, unemployment has risen to its worst non-pandemic levels in almost a decade, and business investment has stalled. A country that sends three-quarters of its exports to the U.S., Canada has proven uniquely vulnerable to Trump’s tariffs on automobiles, steel, aluminum and lumber. Prime Minister Mark Carney has said the U.S.

Apollo-backed Grupo Aeromexico's shares rose in their New York Stock Exchange debut on Thursday, valuing the Mexican airline at nearly $2.8 billion almost four years after emerging from bankruptcy, Reuters reported. The company's stock opened at $19.16 apiece, just above the $19 issue price. Aeromexico and some of its existing shareholders sold 11.7 million American Depositary Shares (ADS) in an initial public offering on Thursday at the midpoint of its marketed range of $18 to $20, raising $222.8 million.

Klöckner Pentaplast (kp), a German producer of rigid and flexible packaging and specialty films, has entered a Restructuring Support Agreement (RSA) with a majority of its financial shareholders to implement a broad financial restructuring plan, GlobalData.com reported. The plan is expected to trim approximately €1.3bn ($1.49bn) from the company’s funded debt, with the objective of reinforcing its balance sheet and increasing financial flexibility. Following the completion of the plan, ownership of the company will shift to certain financial partners.

Azul S.A. announced that the U.S. Bankruptcy Court for the Southern District of New York approved its disclosure statement, allowing the company to solicit votes on its chapter 11 reorganization plan, TipRanks.com reported. Additionally, the court approved Azul’s backstop commitment agreement, which secures $650 million to support the company’s planned capitalization. Read more.

Canada's services economy expanded in October for the first time in 11 months as businesses showed signs of adjusting to economic uncertainty, S&P Global's Canada services PMI data showed on Wednesday, Reuters reported. The headline Business Activity Index rose to 50.5 last month from 46.3 in September, posting its first move above the 50 threshold since November last year. A reading above 50 shows expansion in the sector. The new business index was in contraction for an 11th straight month even as it improved to 48.8 from 48.1 in September.