Bankrupt Brazilian airline Gol Linhas Aereas Inteligentes SA won court permission to investigate whether its rival Latam Airlines Group SA sought to take unfair advantage of its recent chapter 11 filing by improperly soliciting major Boeing Co. aircraft suppliers, Bloomberg News reported. Judge Martin Glenn said Monday there is merit in investigating allegations Latam tried to either poach or interfere with Boeing 737 aircraft lessors doing business with Gol after the Brazilian budget airline filed bankruptcy last month.

An acrimonious legal battle over the fate of the insolvent Harbour Grace shipyard ended in a St. John's courtroom Monday morning after a judge approved the sale of the yard to fishing industry executive Blaine Sullivan, CBC.ca reported. The deal is expected to close later this month. Sullivan has committed to making investments into the yard and protecting the workforce as he tries to return the business to profitability.

Bonds of Petroleos Mexicanos declined on Monday after Moody’s Investors Service downgraded the firm’s credit score further into junk territory, saying the state oil company would be near default without support from the Mexican government, Bloomberg News reported. Pemex’s notes due in 2030 fell as much as 2.9 cents on the dollar to 84.6 cents, according to Trace data compiled by Bloomberg. The extra yield investors demand to hold Pemex’s debt due in about six years over the Mexican sovereign widened more than 60 basis points to 4.93 percentage points.

Members of the Bank of Canada's (BoC) governing council were concerned about cutting borrowing costs too soon amid persistent inflation when they decided to keep the key overnight rate on hold on Jan. 24, minutes published on Wednesday showed, Reuters reported. The policy-setting governing council was "particularly concerned about the persistence of inflation and did not want to lower interest rates prematurely," the minutes said. The Bank of Canada (BoC) aims to keep inflation at 2% and has increased its key overnight rate 10 times in 17 months to a 22-year high of 5% to tame inflation.

A company owned by Blaine Sullivan, a well-known leader in Newfoundland and Labrador's fishing industry, has emerged as the preferred bidder for the insolvent shipyard in Harbour Grace, CBC.ca reported. The advisory firm that's monitoring the court-supervised restructuring and sales process, PricewaterhouseCoopers, revealed in documents published this week on its website that it supports a sale of the yard to Green Skiff Investments.

A group of local landlords with hundreds of rental buildings in Ontario owe more than $144 million as they grapple with a “severe liquidity crisis” that has prompted them to seek creditor protection, the Hamilton Spectator reported. Between them, Aruba Butt, Dylan Suitor and Ryan Molony have 11 related corporations drowning in debt and less than $100,000 in cash as they make their bid under the Companies' Creditors Arrangement Act (CCAA), according to court filings.

Bank of Canada Governor Tiff Macklem said monetary policy can’t solve housing shortages that are driving up costs, suggesting that policymakers may consider looking beyond shelter inflation as they weigh how long to keep interest rates at current levels, Bloomberg News reported. In his first speech since holding the policy rate at 5% for a fourth consecutive meeting, Macklem said high shelter inflation — now the biggest contributor to above-target price gains — partly reflects the impact of rate increases on mortgage interest costs.

Business insolvencies jumped by more than 41 per cent in 2023, according to data released on Friday by Canada's top financial regulator, CBC.ca reported. The report from the Office of the Superintendent of Bankruptcy showed that the total number of insolvencies — meaning those filed by both businesses and consumers — was up by 23.6 per cent last year.

Bank of Canada Governor Tiff Macklem said that heightened demand for bonds is a cause of ongoing liquidity issues in the country’s funding markets, Bloomberg News reported. The Canadian Overnight Repo Rate Average, or Corra, has been stuck above the Bank of Canada’s overnight-rate target for weeks, spurring the central bank to intervene with a series of repo operations. On Wednesday, that spread widened to 7 basis points.

James and Nicki Malcolm moved to El Salvador from New Zealand to be part of a bitcoin dream sold by President Nayib Bukele in 2021 when he made the Central American nation the first in the world to accept the cryptocurrency as legal tender, Reuters reported. Months later Bukele sketched his plans for Bitcoin City, a tax-free crypto haven powered by geothermal energy from a volcano, to a sea of enthusiasts at a beach club presentation that included an avatar of himself on a spaceship.