Afiniti is set to exit chapter 15 bankruptcy following court approvals of a recapitalization transaction, CXToday.com reported. The company secured the transaction by working with lenders led by Vista Credit Partners and The Resource Group International Ltd., a significant shareholder. By doing so, Afiniti has bounced back from bankruptcy quickly, which it filed with the Delaware courts on November 3, 2024. That filing ensured protection from the U.S. courts as the contact center AI vendor evaluated how to pay back the money it owed, inside and outside the country.

As crypto and DeFi both accelerate, the immediate need for adequate regulations is becoming more apparent, and more challenging. For innovative financial technologies, often the best solution is to find jurisdictions that offer sophisticated and forward-thinking regulatory frameworks, TheStreet.com reported. This concept has worked wonders for Singapore, Hong Kong, and Dubai, but now it’s the Bermuda Monetary Authority (GMA) that is attracting cutting-edge blockchain businesses.

Canadian Prime Minister Justin Trudeau said Ottawa would retaliate with its own set of tariffs should President-elect Donald Trump follow through on his pledge to slap a 25% levy on imports from Canada, the Wall Street Journal reported. “We will, of course, as we did eight years ago, respond to unfair tariffs in a number of ways, and we’re still looking at the right ways to respond,” Trudeau said Monday at an event organized by the local chamber of commerce in Halifax, Nova Scotia.

Mexico’s headline inflation slowed slightly more than expected in November, boosting the odds of a fourth straight interest rate cut at the central bank’s meeting next week, Bloomberg News reported. Official data released Monday showed consumer prices rose 4.55% from a year prior, under both the 4.6% median estimate of economists surveyed by Bloomberg and the 4.76% reading in October. Monthly inflation stood at 0.44%.

Vancouver may try to integrate Bitcoin into city finances just as the digital token’s value is surging, a rally fueled by US President-elect Donald Trump’s support for crypto, Bloomberg News reported. City council will consider a motion on Dec. 11 from Mayor Ken Sim titled “Preserving of the city’s purchasing power through diversification of financial reserves – becoming a Bitcoin friendly city.” Sim’s ABC Vancouver party has a majority of the 11 votes on council.

Northvolt has held talks with a big industrial company on selling the business that makes electric battery packs for heavy industry, as a lack of funds forces it to try to divest one of its few profitable operations by the year-end, an internal memo shows, Reuters reported. The rush to sell is the Swedish company's latest effort to strengthen its finances and shrink the business to focus on battery cell production, rather than being an all-in-one-shop for making and recycling electric vehicle (EV) batteries. Last month, Europe's biggest hope for an EV battery champion filed for U.S.

The chief content officer of troubled Indian tech firm Byju’s and an ally of the company’s founder face financial sanctions in the US for their roles in stripping software, cash and other assets from businesses under court supervision, Bloomberg News reported. A federal judge is considering imposing millions of dollars in sanctions on Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology. At a court hearing yesterday, U.S. Bankruptcy Judge John T.

The Canadian government rolled out C$49 billion ($34.8 billion) in loans to businesses during the Covid-19 pandemic without “due regard for value for money,” the country’s auditor general said, Bloomberg News reported. About C$3.5 billion was paid out to more than 77,000 ineligible businesses that applied to the Canada Emergency Business Account (CEBA), Karen Hogan concluded in a report on Monday. That’s 9% of the nearly 900,000 Canadian businesses that received loans through the program, which was introduced by Prime Minister Justin Trudeau’s government in 2020.

Electric bus manufacturer Lion Electric Co. is temporarily laying off about 400 workers and halting operations at its Illinois factory to save cash after receiving a short-term lifeline from its lenders, Bloomberg News reported. The Saint-Jerome, Quebec-based company made the announcement after a Saturday deadline to meet its obligations to key creditors passed. The extensions until Dec. 16 apply to a credit agreement with a syndicate of lenders and a loan provided by the Caisse de Depot et Placement du Quebec and Finalta Capital Inc., Lion said in a statement Sunday.

Glas Trust, which represents a group of US entities that lent $1.2 billion to Byju's, on Monday questioned the maintainability of the Indian cricket board’s application to withdraw its insolvency petition against the cash-strapped edtech firm, the Economic Times of India reported. At the National Company Law Tribunal (NCLT), Glas Trust cited procedural lapses for seeking rejection of the application filed by the Board of Control for Cricket in India.