B.C.’s financial markets regulator on Wednesday called on Ottawa to make changes to federal laws so that fraudsters hit with steep fines still have to pay up even after declaring bankruptcy, the Vancouver Sun reported. Brenda Leong, chairwoman and CEO of the B.C. Securities Commission, said she would work with other provincial regulators to make the plea to Ottawa after Canada’s high court ruled administrative penalties, or fines, don’t survive bankruptcy while orders to pay back ill-gotten gains do.

Canadian federal government's target for a bump in its controversial capital gains tax over the next five years will fall short by a tenth, according to an analysis released on Thursday by the parliamentary budget officer, Reuters reported. Finance Minister Chrystia Freeland revealed a new tax on wealthy individuals in her budget in April which would bring in C$19.4 billion ($13.99 billion) over four years.

Postmedia Network Inc. has announced plans to buy “certain businesses” belonging to SaltWire Network Inc. and The Halifax Herald Ltd., the two insolvent media companies behind Atlantic Canada’s largest newspaper chain, the Canadian Press reported. The Toronto-based company, which owns the National Post, Vancouver Sun, Calgary Herald, Ottawa Citizen and dozens of other publications, issued a statement Friday saying the deal is subject to conditions, including approval from the Nova Scotia Supreme Court and “satisfactory outcomes” with unionized workers.

A group of Latam Airlines Group SA shareholders raised $456 million in an initial public offering of American depositary shares, Bloomberg News reported. The shareholders in the Santiago-based airline sold 19 million ADS on Tuesday for $24 each, according to a statement. Each ADS represents 2,000 of Latam’s common shares, which trade on the Chilean Stock Exchange. The sellers are Sixth Street Partners, Strategic Value Partners, Olympus Peak, Monarch Funds, Värde Funds and Marathon Fund, the statement shows.

The Bank of Canada cut interest rates by a quarter percentage point for a second consecutive meeting and signaled further easing ahead as inflation worries wane, Bloomberg News reported. Policymakers led by Governor Tiff Macklem lowered the benchmark overnight rate to 4.5% on Wednesday, as widely expected by markets and economists in a Bloomberg survey. Officials see below-potential growth continuing to cool inflation, and said they’re spending more time discussing economic headwinds.

Mexico’s headline inflation accelerated much more than expected early this month, complicating investor bets that Banco de Mexico will resume interest rate cuts in August, Bloomberg News reported. Official data published Wednesday showed consumer prices rose 5.61% in the first two weeks of July from the same period a year earlier, above all forecasts in a Bloomberg survey of economists that had a 5.38% median estimate.

U.S. lawyers for units of the troubled Indian tech firm Byju’s want to quit defending their clients in a bankruptcy dispute, blaming “an irreparable breakdown” with the companies and a board member accused of lying in court to help hide $533 million from disgruntled lenders, Bloomberg News reported. In an unusual move, two law firms representing Riju Ravindran, brother of Byju’s founder, filed papers Friday in federal court in Wilmington, Delaware, claiming their clients have failed to cooperate in their own defense. Lawyers representing Byju’s ally William C.

Canada’s retailers faced a further pullback in sales in recent months, yet another sign of the stresses consumers are under that argues for additional rate relief from the central bank, the Wall Street Journal reported. Retail sales dropped by the most in more than a year in May and an early tally of receipts points to further belt-tightening by Canadians in June, data released Friday by Statistics Canada showed.

Trans Mountain Corp. plans to borrow in the bond market to refinance some of its outstanding debt ahead of the Canadian government’s eventual sale of the oil pipeline operator, Bloomberg News reported. The debt deal may still be months away from coming to the market, with size and structure yet to be set, said the people, who asked not to be identified discussing a private matter. The company hasn’t issued debt previously and does not currently have a credit rating. The company reported that it had C$25.3 billion ($18.4 billion) debt as of March 31.

Ontario's self-described Crypto King will likely remain bankrupt until criminal fraud and money laundering charges are resolved against the 25-year-old, CBC.ca reported. Justice William Black dismissed Aiden Pleterski's application for a discharge from his nearly two-year-long bankruptcy in a ruling released on Thursday. "Mr. Pleterski's conduct warrants an emphasis on public protection and accountability," wrote the Ontario Superior Court judge.