A Sault-area aerospace firm hopes to emerge from insolvency under the Companies’ Creditors Arrangement Act through the sale of the company by April, CTVNorthernOntario.ca reported. Springer, an aircraft maintenance company in Echo Bay, has been open since 1972 and employs 100 people. It occupies about 210 acres and includes three hangers and an airport that includes a main runway that is large enough to accommodate Boeing 737s for landing and takeoff, according to court documents filed under the CCAA process. Like a lot of businesses, it was hard hit by the COVID-19 pandemic.

Canada’s inflation rate decelerated in November, but key gauges of underlying price pressures trended higher, increasing the likelihood of the central bank raising interest rates again, Bloomberg News reported. The consumer price index rose 6.8% from a year ago, higher than economist expectations of 6.7% and down from 6.9% in October, Statistics Canada reported Wednesday in Ottawa. On a monthly basis, the index gained 0.1% in November, exceeding forecasts for no change.

Mexico's economy likely contracted by 0.1% in November compared with the previous month, a preliminary estimate from national statistics agency INEGI showed on Monday, Reuters reported. The probable drop in activity follows months of aggressive monetary policy tightening in Mexico, rising core inflation and signs of an economic slowdown in the United States. Compared with the same month a year earlier, the economy was estimated to have grown by 4.2% in November. Mexico's economy expanded by 0.9% in the third quarter from the previous three-month period.

The number of vacant jobs in Canada fell for the first time since the pandemic, easing from record highs in a possible turning point for the country’s labor market, Bloomberg News reported. Openings fell 3.3% on a seasonally adjusted basis to 959,615 in the third quarter, Statistics Canada reported Monday. That’s probably the first quarterly decline in vacancies in more than two years, though the agency didn’t collect figures in the depths of the Covid-19 pandemic.

FTX’s U.S. managers are negotiating with Bahamian authorities to resolve a dispute over access to the failed crypto exchange’s electronic records, lawyers said in a court hearing Friday, following weeks of publicly criticizing each other over the handling of FTX’s collapse, WSJ Pro Bankruptcy reported. FTX Chief Executive John J.

A dual citizen of Sweden and the United Kingdom pleaded guilty to U.S. fraud and money laundering charges on Friday for selling a fake cryptocurrency alongside one of the United States' most-wanted fugitives, a woman referred to as the 'Cryptoqueen,' Reuters reported. Karl Greenwood, 45, was arrested in Thailand and extradited to the United States in 2018 for his role in selling the purported cryptocurrency OneCoin, which federal prosecutors in Manhattan call a pyramid scheme that defrauded investors out of $4 billion. He has been detained since his arrest.

A U.S. court of appeals determined this week that cases against Lebanese commercial banks can be tried outside Lebanon, according to a decision seen by Reuters, paving the way for more cases by depositors seeking to unlock their frozen funds, Reuters reported. The court decision, issued on Dec. 15 in a case brought by Lebanese depositors against leading lender Bank Audi, overturned a lower district court's decision that said Beirut courts had "exclusive jurisdiction" to try cases against Lebanese banks.

Mexico’s central bank will likely decouple from the Federal Reserve early next year by raising interest rates less than the US, after it matches the Fed during its meeting this week, according to Barclays Plc, Bloomberg News reported. Banxico will raise its key rate by 50 basis points to 10.50% on Thursday, mirroring what’s expected by the Federal Open Market Committee, before delivering a last hike of 25 basis points in February, less than the 50 basis-point increase by the Fed in January, Barclays’s analysts wrote in a report.

The European Commission plans to seek feedback on whether the 27-country bloc needs to loosen state aid rules to allow governments to support companies affected by the U.S. Inflation Reduction Act, Reuters reported. The $430 billion act, which grants consumers tax credits for U.S.-produced electric vehicles (EV) and other green products, has triggered fears it could disadvantage European Union companies and tempt businesses to relocate to the United States.

The Bank of Canada's rapid-fire rate hikes are starting to slow the economy, the governor said on Monday, but while the bank wants to avoid a recession, there is a risk sticky inflation will require "much higher" rates, Reuters reported. Speaking to business leaders in Vancouver, Governor Tiff Macklem said the tightening had "begun to work" but would take time to feed through the economy. The bank lifted rates at a record pace of 400 basis points in nine months to 4.25% - a level last seen in January 2008 - to tame inflation that was 6.9% in October.