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.

The U.S.’s new sanctions hit at the core of Russia’s faltering war economy, bringing Washington and Europe into alignment in their pressure on Moscow for the first time since the start of the Trump administration, the Wall Street Journal reported. Analysts say the impact of blacklisting Rosneft and Lukoil—Russia’s biggest oil producers—will hinge on three things: how well they are enforced, the reaction of major markets in India and China, and whether Moscow can circumvent the measures. The new U.S. sanctions “mark the most material move to date by the U.S.

The Second District Court for Commercial Bankruptcy has reported progress in the bankruptcy proceedings of Altos Hornos de México (Ahmsa) and its subsidiary Minera del Norte ( Minosa ), focusing on the review of labor lists that will allow for determining payment to workers as preferred creditors, BNamericas.com reported. In a court ruling dated October 1, the court detailed that the Federal Attorney for Labor Defense (Profedet) already has the necessary material to review the lists submitted by the trustee, as well as the information provided by the Mexican Social Security Institute (IMSS).

Some former Hudson’s Bay employees have filed a class-action lawsuit seeking a share of the defunct retailer’s pension surplus, BNNBloomberg reported. The court filing was made on behalf of workers who were enrolled in a pension plan offered by Simpsons, a rival department store HBC bought in the 1970s. The takeover made HBC the administrator of the Simpsons pension plan, which had a surplus at the time. The court filing does not say how big the surplus was when the acquisition happened, but says annual pension statement reports HBC sent Simpsons workers showed that as of Jan.

Inflation in Canada quickened more than anticipated last month, touching a seven-month high as price pressures continue to simmer in the country, the Wall Street Journal reported. The consumer-price index rose 0.1% in September from the prior month and 2.4% from a year earlier, Statistics Canada said Tuesday. That was hotter than the 2.2% annual inflation economists had expected and marked the second straight month that inflation has accelerated, after picking up to 1.9% in August.

Canada offered tariff relief on some steel and aluminum products imported from the U.S. and China, a government document showed, in efforts to help domestic businesses battered by a trade war on two fronts, Reuters reported. Prime Minister Mark Carney is negotiating with U.S. President Donald Trump, who imposed tariffs on Canadian steel and aluminum. His team also met with Chinese counterparts last week in an effort to secure relief on Chinese tariffs on Canadian agricultural goods. Canada's economy has come under strain as the impact of tariffs on Canadian exports to the U.S.

A group of banks including JPMorgan Chase, Bank of America and Goldman Sachs is struggling to put together a $20 billion loan to Argentina without leaving themselves too exposed to the financially distressed South American country, the Wall Street Journal reported. The bank loans would be part of the Trump administration’s plan to backstop the finances of libertarian President Javier Milei’s government with a $40 billion package, including a $20 billion currency swap with the U.S. Treasury Department and the separate $20 billion bank-led debt facility.