A software company controlled by Indian entrepreneur Byju Raveendran drained cash from U.S. affiliates in violation of US bankruptcy rules, according to a lawsuit filed Tuesday in federal court in Delaware, Bloomberg News reported. Money that should be used to repay creditors was instead siphoned off to Whitehat Education Technology, a court-approved trustee for the affiliates said in court papers. The trustee, bankruptcy attorney Claudia Springer, sued to get back nearly $700,000 that was moved from entities under her control.

Mexico wants to reduce its dependence on imports from China and is asking some of the world’s biggest manufacturers and tech firms operating in the country to identify Chinese products and parts that could be made locally, the Wall Street Journal reported. The administration of leftist President Claudia Sheinbaum, who took office last week, wants U.S.

Program talks between the International Monetary Fund and El Salvador focus on strengthening reforms, while addressing risks arising from the use of bitcoin remains a key element of the discussions, the IMF said on Thursday, Reuters reported. "What we have recommended is a narrowing of the scope of the bitcoin law, strengthening the regulatory framework and oversight of the bitcoin ecosystem, and limiting public sector exposure to bitcoin," IMF spokesperson Julie Kozack said in a scheduled press conference.

Governor Tiff Macklem announced plans to reorganize the Bank of Canada’s governance structure by adding a second outsider to its main policy-making body, expanding the number of officials involved in setting interest rates, Bloomberg News reported. The Ottawa-based central bank plans to increase the size of its governing council to seven from six by creating another external deputy governor position. Nicolas Vincent — who was the first to take one of these part-time, shorter-duration contracts — will also have his term extended to March 2026.

U.S. East Coast and Gulf Coast ports were reopened on Friday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time, Reuters reported. The strike ended sooner than investors had expected, weakening shipping stocks as freight rates were no longer expected to surge. "The port strike ended fairly quickly, removing any significant downside risk to the economy this quarter," said Ryan Sweet, chief U.S. economist at Oxford Economics.

The United States is raising new concerns about China’s practice of making emergency loans to debt-ridden countries, warning that a lack of transparency surrounding such financing can mask the fiscal predicaments facing fragile economies that have turned to China for help, the New York Times reported. A senior Treasury official, Brent Neiman, will publicly air concerns about the practice on Tuesday during a speech in which he will urge the International Monetary Fund to push China for greater clarity about its lending terms.

The Bank of Mexico's governing board may consider larger cuts to its benchmark interest rate going forward as inflation in Latin America's second largest economy cools, bank governor Victoria Rodriguez told Reuters in an interview late on Monday. Banxico, as the Mexican central bank is known, lowered its key rate by 25 basis points to 10.50% on Thursday, the second straight cut as price pressures ease. It previously cut rates by a quarter of a percentage point in March.

Elliott Investment Management and other U.S. investors have been named as the winning bidder in a court-ordered auction for control of Venezuela’s oil refiner Citgo Petroleum designed to pay down the bankrupt country’s debts, WSJ Pro Bankruptcy reported. A special master appointed to sell Venezuela’s shares in Citgo’s parent company is expected to designate a bid backed by Elliott as the best offer following a monthslong auction process overseen by a federal judge, they said.

Bank of Canada Governor Tiff Macklem said he’s pleased inflation is back to the central bank’s 2% target but he wants to see more easing in core measures and shelter prices, Bloomberg News reported.