The Bank of Mexico lowered its economic growth estimates for this year and next, citing uncertainty about the impact of U.S. import tariffs and weakness in domestic consumption and investment, the Wall Street Journal reported. In its quarterly report, the central bank said it expects Mexico’s gross domestic product to grow 0.1% this year, down from it’s previous estimate of 0.6%. The forecast ranges from a contraction of 0.5% to an expansion of 0.7%. For 2026, the bank cut its growth forecast to 0.9% from 1.8% previously.

Canada Post on Wednesday reported a $611 million pre-tax loss in 2024 and simultaneously presented a “best and final” contract offer to the Canadian Union of Postal Workers with operational reforms it says are needed to stabilize finances and improve mail service, Freight Waves reported. The annual report underscored the financial pressures weighing on Canada Post and the need for restructuring, but sharp union criticism of the latest counteroffer foreshadows a potential escalation of the current labor action that could further hurt the bottom line.

A Canadian aluminum trader that had been struggling to restructure its debt has filed bankruptcy in the US and Canada, saying the American trade war helped push the company over the edge, Bloomberg Law reported. Sinobec Group Inc. arranges deals between sellers and buyers of aluminum ingots, as well as finished items like building products, shower doors and fences, the company said in court papers filed in federal court in Illinois on Tuesday.

Canada's Hudson's Bay Company plans to lay off 8,347 employees, or 89% of its workforce, by Sunday when it will conclude its liquidation sale and shut all stores, according to documents published late on Monday. Hudson's Bay, Canada's oldest retail chain, has been part of the country's landscape and identity for 355 years, anchoring malls from coast to coast. Founded in 1670, the Bay's brick-and-mortar department stores are following similar retail businesses struggling with declining foot traffic and competing with online commerce. The layoffs follow rising joblessness in Canada.

A Quebec Superior Court judge has approved the sale of vehicle-maker Lion Electric Co. to a group of Quebec investors, giving the struggling manufacturer a new lease on life, the Canadian Press reported. During a hearing on Thursday, Justice Michel Pinsonnault said the deal is the only option that ensures the company can keep operating. “This is the only potential transaction that makes sense,” he said. “There are no others.” The decision comes five months after Lion Electric sought protection from its creditors in December.

President Donald Trump on Friday said that he is “recommending a straight 50% tariff on the European Union” after complaining that trade negotiations have stalled, CNBC.com reported. The steep new import duties would start on June 1, Trump wrote on Truth Social. The EU “has been very difficult to deal with,” Trump wrote of the 27-nation bloc.

South Korea will prepare support measures for agricultural and food exporters, while closely monitoring the impact of U.S. tariffs on the sector, the finance ministry said on Thursday, Reuters reported. The United States is the biggest export market for the sector, with more growth potential expected from a boom in demand for South Korean foods, the ministry said in a statement after a meeting to review government responses to U.S. tariffs. South Korean officials travelled to Washington, D.C.

The giants of corporate America from Pfizer Inc. (PFE) to Alphabet Inc. (GOOG, GOOGL) are borrowing in euros like never before as the anxiety triggered by President Donald Trump’s tariff threats pushes them to hunt for alternative funding avenues in case their home market freezes up, Bloomberg News reported. A record number of these so-called reverse Yankee deals have been sold this year at a total value of more than €83 billion ($94 billion), up 35% on 2024, according to data compiled by Bloomberg. That’s nearly 14% of overall euro corporate issuance, the data shows.

The European Union is set to delay new, global rules governing banks' trading again as it waits for more clarity about the U.S. administration's plans to deregulate its financial sector, sources told Reuters. The Fundamental Review of the Trading Book (FRTB) is a key part the Basel III package devised in the wake of the global financial crisis but not yet implemented by Britain or the United States, two of the world's key financial centres.

Brazilian airline Gol said on Tuesday its restructuring plan under Chapter 11 bankruptcy proceedings has been approved by a U.S. court, Reuters reported. The Brazilian carrier, which has been in bankruptcy proceedings since early 2024, told Reuters it expects to exit chapter 11 in June. Read more.