The Mexican government is likely to continue supporting heavily indebted state oil firm Pemex with about $15 billion per year, Fitch ratings agency said in an a report on Wednesday, adding these will at least cover international bond debt amortizations, Reuters reported. However, should the government substantively increase its support for Pemex, this would have a negative credit effect on the sovereign, Fitch added.

Canada's annual inflation rate surged more than expected to 3.3% in July as core measures eyed by the central bank remained stubbornly high, data showed on Tuesday, increasing the likelihood of another interest rate increase, Reuters reported. Analysts polled by Reuters had forecast inflation would rise to 3.0% from the 27-month low of 2.8% recorded in June. The consumer price index was up 0.6% on a month-over-month basis, Statistics Canada said, also higher than a forecast of a 0.3% gain.

A Burnaby-based company that designs and builds electric bikes and scooters has added Veemo’s covered electric tricycle to its catalogue, the Vancouver Sun reported. According to Envo Drive Systems CEO Ali Kazemkhani, his company is taking over the 122 orders for the electric trike that Veemo had in place before the business folded in January. Kazemkhani said all Veemo customers had been refunded their $250 deposits and would soon be asked whether they want to continue their order under the Envo banner.

Global regulators spent more than a decade trying to ensure that a large bank could fail without any government support. Despite this year’s bank failures, they are still working on it, the Wall Street Journal reported. Global regulators are reviewing the March failures, including Credit Suisse’s collapse and Swiss officials’ decision to push UBS to acquire its rival in a deal with billions of public money, people familiar with the probe said.

Mexican payroll lender Credito Real is extending a deadline to secure a majority of investors to back a prepackaged bankruptcy filing in local courts it sees as the resolution to one of the country’s biggest corporate blow-ups, Bloomberg News reported. The non-bank lender and a group of creditors are planning to take another 30 days to recruit more bondholders in the $1.9 billion of defaulted debt to sign on to the offer originally set to expire Thursday, people familiar with the talks said, requesting anonymity since the discussions are private.

A Scottish renewables company, backed by Scottish Enterprise, has been placed into administration as a result of problems with its Canadian subsidiary, Daily Business reported. Edinburgh-based Sustainable Marine Energy (SME), developed tidal energy systems and last year its Canadian business was successful in harnessing tidal currents in the country’s Bay of Fundy, in Nova Scotia, using its innovative, floating platform.

The Bank of Mexico maintained its benchmark interest rate at 11.25% on Thursday, in line with analysts' forecasts, underscoring that the inflationary outlook remains "very complex" and suggesting the rate could hold steady for a while, Reuters reported. The unanimous decision by the central bank's five-member board is the third consecutive rate hold since Banxico, as the Bank of Mexico is known, halted a two-year hiking cycle in May amid easing inflation.

WeWork's warning of a bankruptcy risk would not have an impact on its India unit, regional CEO Karan Virwani said on Wednesday, Reuters reported. New York-based WeWork, which was valued at $47 billion in 2019, on Tuesday raised "substantial" doubt around the continuance of its operations and warned of a possible bankruptcy. WeWork India, which is backed and owned in majority by Indian real estate firm Embassy Group, said it was focused on growth with sustained profitability and the fundamentals of its business remain strong.

The United States, United Kingdom, and Canada slapped sanctions Thursday on Lebanon's embattled former central bank governor and a handful of close relatives and associates over allegations of corruption, the U.S. Treasury Department said, the Associated Press reported. Riad Salameh, 73, ended his 30-year tenure on July 31 under a cloud of investigation and blame for his country's historic economic crisis. France, Germany, and Luxembourg are investigating Salameh and close associates over alleged financial crimes, including illicit enrichment and the laundering of $330 million.