The company that operates retailers Ted Baker, Lucky Brand and Brooks Brothers plans to close a number of stores in Canada and the U.S. after months of declining sales pushed the operations into insolvency proceedings, the Globe and Mail reported. Ted Baker Canada announced the launch of liquidation sales on Friday, covering nine out of 25 Ted Baker stores in Canada and all of the brand’s locations in the U.S. The sales also affect all Brooks Brothers and Lucky Brand stores in Canada. The company has shut down its e-commerce operations for the time being.

China strongly opposed the United States' tariff hikes, its commerce ministry said on Tuesday, vowing it will take resolute measures to defend its rights and interests, Reuters reported. "U.S. raising Section 301 tariffs violates President Biden's commitment to 'not seek to suppress and contain China's development' and 'not to seek to decouple and break links with China'," said a statement by the ministry, adding the move will "seriously affect the atmosphere of bilateral cooperation." U.S.

Canada should take steps to introduce more mortgages with longer renewal terms, according to the country’s largest financial co-operative, Bloomberg News reported. More mortgage options, specifically those with 10-year terms, would help contain “payment shocks” faced by households when they renew their debt obligations after interest rates have increased, according to a report released Monday by Desjardins.

Grupo Aeromexico SAB is seeking a return to equity markets, filing for a US initial public offering two years after delisting from the Mexican stock exchange, Bloomberg News reported. The company intends to list American Depositary shares or ADS on the NYSE under the symbol AERO and there will be no public offering of the shares in Mexico, Aeromexico said in the prospectus. The company didn’t disclose the size or price range of the offering. Barclays, Morgan Stanley, JP Morgan, Evercore ISI and Apollo Global Securities will be underwriters for the deal.

The Bank of Mexico's five-member board will discuss the possibility of resuming interest rate cuts at the upcoming June 27 monetary policy meeting, following a rate hold last week, Governor Victoria Rodriguez told Reuters. Banxico, as the Mexican central bank is known, held its benchmark interest rate steady at 11.00% on Thursday in a unanimous decision by its governing board, coming after a March cut of 25 basis points, the first rate reduction since it embarked on a tightening cycle in 2021.

777 Partners, the U.S. investment firm trying to buy English Premier League football club Everton, has hired restructuring experts to overcome “various operational challenges,” according to an email sent to the group’s employees Thursday, Bloomberg News reported. Miami-based 777’s proposed takeover of Everton has been held up as the Premier League is yet to grant clearance, while 777 has asked for deadlines to be extended to complete the deal. Last week the company was accused of fraud by lenders in a New York court filing.

Mexico is studying options to absorb as much as $40 billion in Pemex debt, the equivalent of what will come due in the next presidential term, one of its top finance officials told investors in New York, Bloomberg News reported. The government is considering options that could include repurchasing bonds issued by the heavily indebted state oil firm Petroleos Mexicanos or issuing sovereign debt to fund buyouts, Deputy Finance Minister Gabriel Yorio told investors, according to people who participated in the meeting.

The Bank of Canada says households can weather higher borrowing costs, but flagged rising asset valuations and financial stress among renters as risks to the outlook, Bloomberg News reported. Canadians are “proactively” adjusting to higher interest rates, and the financial system “remains resilient,” the central bank said in its annual review of the system published Thursday. And while payments have risen for about half of the country’s mortgages, households have higher wages and savings, officials said, and they’re adjusting their spending patterns.

Mexico’s headline inflation sped up more than expected last month, likely cementing a rate hold at the central bank’s monetary policy meeting later on Thursday, Bloomberg News reported. Consumer prices rose 4.65% in April from a year earlier, up from 4.42% in March, the National Statistics Institute reported Thursday. The reading was slightly above the 4.63% median estimate from analysts in a Bloomberg survey.

Orea Mining Corp., has been permanently delisted from trading on the Toronto Stock Exchange and the OTCQB; transfer agent, clearing, CDS and DTC services are inactive or have terminated, according to a company press release. Orea was assigned into bankruptcy on April 17, 2024. Crowe MacKay & Company Ltd., has been appointed as Licensed Insolvency Trustee (the "Trustee") of Orea's bankrupt estate, and affirmed by Orea's creditors at a meeting held on May 7, 2024.