Apollo-backed Grupo Aeromexico's shares rose in their New York Stock Exchange debut on Thursday, valuing the Mexican airline at nearly $2.8 billion almost four years after emerging from bankruptcy, Reuters reported. The company's stock opened at $19.16 apiece, just above the $19 issue price. Aeromexico and some of its existing shareholders sold 11.7 million American Depositary Shares (ADS) in an initial public offering on Thursday at the midpoint of its marketed range of $18 to $20, raising $222.8 million.

Klöckner Pentaplast (kp), a German producer of rigid and flexible packaging and specialty films, has entered a Restructuring Support Agreement (RSA) with a majority of its financial shareholders to implement a broad financial restructuring plan, GlobalData.com reported. The plan is expected to trim approximately €1.3bn ($1.49bn) from the company’s funded debt, with the objective of reinforcing its balance sheet and increasing financial flexibility. Following the completion of the plan, ownership of the company will shift to certain financial partners.

Azul S.A. announced that the U.S. Bankruptcy Court for the Southern District of New York approved its disclosure statement, allowing the company to solicit votes on its chapter 11 reorganization plan, TipRanks.com reported. Additionally, the court approved Azul’s backstop commitment agreement, which secures $650 million to support the company’s planned capitalization. Read more.

Canada's services economy expanded in October for the first time in 11 months as businesses showed signs of adjusting to economic uncertainty, S&P Global's Canada services PMI data showed on Wednesday, Reuters reported. The headline Business Activity Index rose to 50.5 last month from 46.3 in September, posting its first move above the 50 threshold since November last year. A reading above 50 shows expansion in the sector. The new business index was in contraction for an 11th straight month even as it improved to 48.8 from 48.1 in September.

Canada will move to regulate fiat-backed stablecoins, the government announced Tuesday in its 2025 budget. The plan would create a legal framework for the issuance and use of stablecoins within Canada, aiming to bring oversight and clarity to a fast-growing corner of digital finance, Decrypt.com reported. “This legislation will require issuers to maintain and manage adequate asset reserves, establish redemption policies, implement risk management frameworks, and protect the sensitive and personal information of Canadians,” the budget said.

Several German subsidiaries of First Brands Group have filed for insolvency, in a sign that the fallout from the US car parts supplier’s September bankruptcy is rippling through to its foreign operations, Bloomberg News reported. The insolvencies affected entities of automotive supplier Plastic Manufacturing Group, which is owned by First Brands, according to a statement from Schultze & Braun, whose lawyer has been appointed provisional administrator.

Laurentian University has sold the historic Bell Mansion to a local Sudbury developer for $1.25 million. The university listed the building, which previously served as home to the Art Gallery of Sudbury, following an insolvency in 2021. Earlier this year, Laurentian finalized a $53.5-million deal with the province to sell several buildings on campus, including the East Residence building, the Northern Ontario School of Medicine building, and a security and maintenance building (along with the adjacent parking lots).

Canada said Tuesday it intends to run wider deficits to finance spending and tax measures aimed at unleashing the massive private-sector investments the economy needs to rebuild amid a protectionist U.S., the Wall Street Journal reported. To offset some of the elevated costs, Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.