Mexico's antitrust watchdog COFECE has found that 21 banks and financial institutions operating in the country are likely responsible for fixing fees related to deferred credit card payments, according to a document produced by the government agency that was seen by Reuters. The 649-page document outlining the findings and listing the institutions and individuals allegedly involved includes the Mexican subsidiaries of HSBC (HSBC), Santander (SAN) and Scotiabank (SCOTIABKCL.SN).

President Trump’s trade agreement with Japan, announced this week, has intensified pressure on South Korea to cut a deal that doesn’t leave it at a disadvantage relative to its biggest rival in East Asia, the New York Times reported. Kim Jung-Kwan, South Korea’s industry minister, who arrived in Washington on Wednesday for negotiations, pledged an “all-out effort” to strike a deal by the Aug. 1 deadline to stave off a 25 percent tariff that the White House threatened in April and again this month. Moving forward, Mr.

Mexico's headline inflation slowed in the first half of July, falling back within the central bank's target range and fueling expectations that the bank should continue to bring down interest rates in Latin America's second-largest economy, Reuters reported. Consumer prices rose 3.55% in the 12 months through mid-July, data from the national statistics agency showed on Thursday, slowing down from the 4.51% reported a month earlier.

The U.S. Public Company Accounting Oversight Board said on Tuesday it had revoked the license of a Hong Kong firm and barred its owner for violating audit rules related to companies operating in China, including Luckin Coffee Inc., Reuters reported. The PCAOB said in a statement it had sanctioned Centurion ZD CPA & Co and its owner Chan Kam Fuk and hit them with a civil penalty of $75,000 for violating the board's rules and standards in connection with its audit work for three firms.

The U.S. and Japan have reached a trade agreement, President Trump wrote in a social-media post Tuesday evening, saying he would set his so-called reciprocal tariffs at 15% for the country, the Wall Street Journal reported. Under the deal, Japan will invest $550 billion in the U.S., Trump said in his post on Truth Social. The U.S. will receive 90% of the profits from the investments, he added, without providing further details. Japan will also open to trade, Trump said, listing goods including cars and trucks, rice and other agricultural products.

The European Commission plans to submit counter-tariffs on 93 billion euros ($109 billion) of U.S. goods for approval to EU members, while its trade chief will hold talks with U.S. Commerce Secretary Howard Lutnick, Reuters reported. The Commission said on Wednesday that its primary focus was to achieve a negotiated outcome with the United States to avert 30% U.S. tariffs that U.S. President Donald Trump has said he will impose on the 27-nation bloc on August 1.

U.S. President Donald Trump announced a new 19% tariff rate for goods from the Philippines on Tuesday after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House, and said U.S. goods would pay zero tariffs, Reuters reported. The new tariff rate is just below the 20% threatened by Trump earlier this month, but still above the 17% rate set in April when Trump announced what he called reciprocal tariff rates for dozens of countries. It matches the 19% rate announced for Indonesia and bests Vietnam's slightly higher rate of 20%.

Canadian companies face higher costs to purchase goods and services but are limited in raising consumer prices due to competitive pressures and weaker demand, according to quarterly surveys published Monday by the Bank of Canada, the Wall Street Journal reported. Overall, near-term inflation expectations among firms have eased after a sharp escalation in the previous quarter. More firms report a deteriorating sales outlook as the repercussions from chaotic U.S. trade policy continues to reverberate.

A small township in northern Ontario says it will suspend all municipal services next month, after years of financial instability and pleas for provincial help, GlobalNews.ca reported. The Township of Fauquier-Strickland announced the decision last Tuesday, citing over $2.5 million in accumulated operating deficits and the complete depletion of reserve funds. In a release issued July 9, municipal officials say they’ve exhausted all other options, including layoffs and significant service cuts.

The U.S. Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a key battery component, after concluding the materials had been unfairly subsidized, Bloomberg News reported. A trade association representing US graphite producers in December filed petitions with two federal agencies, asking for investigations into whether Chinese companies were violating anti-dumping laws. The new duties will add to existing rates making the effective tariff 160%, according to American Active Anode Material Producers, the trade group that filed the complaint.