Pride Group Holdings has sought creditor protection under the Companies’ Creditors Arrangement Act (CCAA), after lender Mitsubishi HC Capital America filed a claim this week seeking damages of approximately US$100 million, trucknews.com reported. Three lawsuits on behalf of the Mitsubishi HC Capital named Sulakhan ‘Sam’ Johal and Jasvir Johal, accuse them of taking out credit lines to build inventories for Pride Truck Sales and Tpine Leasing. It accused them of defaulting on payments they had personally guaranteed. The claims have not been proven in court.

Steelworker union Local 1005 says the recent court filings by U.S. Steel is “bankruptcy fraud” and a path to abandoning Hamilton altogether — not only ditching the liability of its pensioners, but the cleanup costs of leaving the city, too, the CBC reported. Union head Rolf Gerstenberger made the statement at Local 1005’s headquarters at Barton and Kenilworth, questioning the company’s motives, repeatedly recalling a $58-million settlement U.S. Steel was has agreed to pay for price-fixing case in July for actions dating back a decade, and calling the process of bankruptcy protection theft.

Canada’s economy made a solid start to the new year with growth in the first two months tracking well ahead of the Bank of Canada’s forecast, reinforcing expectations the central bank will once again stick to the sidelines at its coming policy meeting, the Wall Street Journal reported. The expansion in January was the strongest in a year, bolstered by a recovery with public sector strikes ending in Quebec and backed by increased activity across many segments of the economy.

The collapse of Baltimore's Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of commercial insurance market Lloyd's of London said on Thursday, Reuters reported. The massive Singapore-flagged container ship Dali sailing out of Baltimore Harbor bound for Sri Lanka reported losing power and the ability to maneuver before plowing into a support pylon of the bridge on Tuesday.

Treasury Secretary Janet Yellen called out China’s ramped-up production in solar energy, electric vehicles and lithium-ion batteries, calling it unfair competition that “distorts global prices” and “hurts American firms and workers, as well as firms and workers around the world,” the Associated Press reported.

Following the collapse of Baltimore's Francis Scott Key Bridge, automakers must navigate a possible disruption to their supply chain, Yahoo Finance reported. Baltimore is a key U.S. port for automotive imports and exports. Alliance for Automotive Innovation CEO and President John Bozzella joins Market Domination Overtime to discuss how the industry will be impacted. Bozella claims Baltimore is the top port for automotive imports and exports of parts and vehicles. There is "no question there's gonna be some impact on the industry, what we don't know is the extent of the impact," he says.

Mexico’s economy will expand 2% to 3% in 2025 with a fiscal deficit equivalent to 2.5% of gross domestic product, according to a government estimate published Wednesday, Bloomberg reported. Inflation will slow to 3.8% by the end of 2024 and 3.3% by year-end 2025, from the current 4.4%, according to the preliminary numbers for the draft budget from Mexico’s Finance Ministry. Growth is forecast at 2.5% to 3.5% this year, above the average estimate by economists.

The Bank of Canada (BoC) on Tuesday said businesses urgently needed to boost investment to increase productivity, saying this would help insulate the economy against the threat of inflation, Reuters reported. “I'm saying that it's an emergency — it's time to break the glass," Senior Deputy Governor Carolyn Rogers told a business audience in the Atlantic province of Nova Scotia.

The Canadian province of Ontario on Tuesday forecast its budget deficit would more than triple in the upcoming fiscal year as economic growth stalls and it spends more on housing and roads, as well as measures to ease the cost of living, Reuters reported. Ontario, Canada's most populous province and home to Toronto, its largest city, said its deficit would widen to C$9.8 billion ($7.2 billion), or 0.9% of gross domestic product, in 2024-25, from an estimated C$3 billion in the current fiscal year, which ends on March 31.