The head of Mexico's central bank said Tuesday that he supports the dramatic measures that central bankers in advanced economies have taken to stabilize their economies, but emerging markets must be mindful of the spillover effects these policies may have, The Wall Street Journal reported. "The unconventional monetary policies have…established the ground for a recovery in economic activity," said Agustin Carstens, governor of Mexico's central bank, at a conference in Portugal sponsored by the European Central Bank. "I'd rather have them than not," he said.

Former Anglo Irish Bank Corp. Chief Executive Officer David K. Drumm, sued by the defunct lender over an unpaid personal loan, conceded to a U.S. judge he made “a lot of errors” in his bankruptcy filing and wasn’t aware he needed to reveal $1.2 million in cash transfers to his wife, Bloomberg News reported. Drumm, 47, filed for personal bankruptcy protection from creditors in 2010 in Boston, two years after he began moving money to a new account set up for his wife. Anglo Irish argues Drumm can’t use U.S.

Telus Corp. has served notice that it’s dropping a $350-million takeover bid for Mobilicity, ending a drawn-out effort to scoop up the struggling small player and its valuable wireless spectrum, The Globe and Mail reported. This turn of events leaves Mobilicity, now in bankruptcy protection, without a solid bidder to take over its business, recent reports from its bankruptcy monitor would suggest. It also leaves bondholders, who are owed hundreds of millions of dollars, at risk of significant losses.

The clouds of the global financial crisis may have lifted, but six years later, the world economy is not creating nearly as many jobs as it was before 2008, a United Nations report on Wednesday concluded, nor is it expected to in the near term. That is a particularly worrisome fact at a time when more young people are entering the job market than ever before, the International New York Times reported. The economies of developed countries are likely to grow at 2 percent this year and 2.4 percent in 2015, a faster clip than in the two previous years, the report said.

The Barbados High Court has been asked to help settle an international legal battle over $5.2 million believed to be in a local commercial bank account. According to Daily Nation investigations, for the last few months Canadian real estate and investment company Homburg Invest Inc. (HII), represented by Barbadian law firm Elliott D. Mottley & Co., has been engaged in court action here after tracking what it called “diverted funds” that originated in Colorado, United States, were transferred to Nova Scotia, Canada, and ended up in Bridgetown, Barbados.

Chief Executive Officer of the Jamaica Public Service Company (JPS) Kelly Tomblin says that the pressure from stolen electricity across the island is driving the power company into insolvency, the Jamaica Observer reported. Tomblin, speaking at a press conference at JPS’s New Kingston headquarters Thursday, said that in the two-year period 2012/2013 the power company lost US$73 million to stolen electricity. “The ship is going to sink under this weight. If this continues it might mean insolvency,” Tomblin declared at the company’s Knutsford Boulevard headquarters.

A U.S. bankruptcy judge signed off on the sale of some €15 billion ($20.6 billion) of soured loans on the books of what was once one of Ireland's largest banks as the country digs out from the wreckage of its collapsed property market, The Wall Street Journal reported. Judge Christopher Sontchi on Tuesday approved Irish Bank Resolution Corp.'s sale of the loan portfolios at a hearing in U.S. Bankruptcy Court in Wilmington, Del.

The fugitive businessman who controlled Mexicana airlines before it went bankrupt and was recently charged with illegal use of the airline's funds has asked for asylum in the United States, a federal official said Wednesday, the Associated Press reported. Assistant Attorney General Mariana Benitez said that Gaston Azcarraga is in the United States and has applied for asylum following the expiration of his visa. U.S. officials notified Mexico that Azcarraga is in their country a few days ago, Benitez said. She added that Mexico requested that he be extradited but U.S.

With $7.3 billion up for grabs, Nortel's Canadian, U.S. and European divisions began staking out their claims to the cash that is all that's left of the former telecommunications giant, Dow Jones Daily Bankruptcy Review reported. Courtrooms in Toronto and Wilmington were twinned with some $1 million worth of technology to allow judges in each city to jointly make the call on who gets the money from the going-out-of-business sale of a company that operated in more than 100 countries and left unpaid bills in all of them.

Canadians are being bombarded with mixed messages on how much debt they should take on, The Wall Street Journal Canada Real Time blog reported. Stimulated by rock-bottom interest rates in place since the financial crisis, Canadians have strapped on a lot of debt in the last few years, and that’s been a big concern for policy makers. Household borrowing was at record highs in the fourth quarter, with the oft-quoted debt-to-disposable-income ratio hitting a record 164.2% in that period.