Lion Electric Co., the Canadian maker of electric school buses, has failed to find new investor backing ahead of a deadline on the expiry of its credit agreements, the Globe and Mail. The manufacturer will therefore file for bankruptcy protection in a bid to restructure, it confirmed in a statement Tuesday. The Saint-Jérome, Que.-based company, one of the province’s big industrial hopes in the shift to electric vehicles, had been scrambling to secure new capital from new or existing investors and figure out a way to deal with a debt that’s ballooned to nearly US$300-million.

Sweden’s Intrum AB has struck an agreement with a noteholder group that could resolve a key obstacle in the debt collector’s bid to restructure in U.S. bankruptcy court, Bloomberg News reported. The company had “come to terms” with the group of debt holders ahead of a hearing in the US bankruptcy court, according to Andrew M. Leblanc, a company attorney. The agreement requires the consents of other parties, a process that’s currently underway, he said at a Monday hearing in Texas.

The Canadian government is weighing an export tax on certain commodities to the U.S. if President-elect Donald Trump fulfills his pledge of slapping a 25% tariff on all Canadian imports, the Wall Street Journal reported. Among the commodities that could be affected are energy products, most notably crude oil, potash and uranium, but no final decision has been made, the person said. Nearly all crude oil exported from Canada is bound for the U.S. Prime Minister Justin Trudeau said this week that Canada would retaliate against the U.S.

The Bank of Canada lowered its key interest rate by half a percentage point today but signalled a slower pace of rate cuts moving forward, the Canadian Press reported. The decision marked the fifth consecutive reduction since June and brings the central bank’s key rate down to 3.25 per cent. Forecasters were widely expecting the jumbo interest rate cut after the November labour force survey showed the unemployment rate rose to 6.8 percent.

The Biden administration transferred $20 billion to Ukraine on Tuesday, providing an urgently needed economic lifeline in the form of a loan that will be repaid using interest earned from Russia’s frozen central bank assets, the New York Times reported. The transfer of the funds comes as Ukraine is facing a period of grave uncertainty with President-elect Donald J. Trump poised to take office next month and Russia’s war continuing unabated. Mr.

GOL Linhas Aéreas Inteligentes S.A. and Abra Group Limited have announced a key step in GOL’s financial restructuring journey, AviationSourceNews.com reported. The airline will file an initial proposed chapter 11 reorganization plan with the U.S. Bankruptcy Court. The filing marks a critical step in addressing its financial challenges and positioning the airline for future growth. This strategic move follows a comprehensive Plan Support Agreement (PSA) signed on November 6, 2024, which involves GOL, Abra Group, their affiliated entities, and the unsecured creditors committee.

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%.