The financial restructuring process of Azul under Chapter 11 of the United States Bankruptcy Code reached its conclusion on February 20. Following the full repayment of the DIP (Debtor-in-Possession) financing and the settlement of its share offering, the company emerges with a reduction in debt and lease obligations of approximately $2.5 billion, AviaciOnline.com reported. The airline successfully repaired its balance sheet through strategic agreements with key creditors, including the lessor AerCap and U.S. carriers United Airlines and American Airlines.

The European Commission demanded on Sunday that the United States stick to the terms of an EU-U.S. trade deal reached last year, after the U.S. Supreme Court struck down Donald Trump's global tariffs and he responded with new levies across the board, Reuters reported. The Commission, which negotiates trade policy on behalf of the 27 EU member states, said Washington must provide "full clarity" on the steps it intends to take following the court ruling. After the court struck down Trump's global tariffs on Friday, the U.S.

After the Supreme Court struck down the legal basis for President Trump’s sweeping tariffs on Friday, many U.S. trading partners saw the tariff rate on their goods lowered from what they faced before the ruling. But for others, like Britain and Australia, the math went the other way, the New York Times reported. Britain became the first country to reach a trade deal during Mr. Trump’s second term, and both governments emphasized the “special relationship” between the two countries.

The Supreme Court struck down President Donald Trump’s far-reaching global tariffs on Friday, handing him a significant loss on an issue crucial to his economic agenda, the Associated Press reported. The 6-3 decision centers on tariffs imposed under an emergency powers law, including the sweeping “reciprocal” tariffs he levied on nearly every other country. The majority found that the Constitution “very clearly” gives Congress the power to impose taxes, which include tariffs. “The Framers did not vest any part of the taxing power in the Executive Branch,” Chief Justice John Roberts wrote.

Thousands of companies and importers are set to launch what could be a prolonged battle to try to recoup as much as $170 billion in tariffs they’ve already paid to the U.S. government after the Supreme Court struck down a key tool in President Donald Trump trade policy, Bloomberg News reported. The top court was silent on the topic of refunds when it ruled on Friday that Trump didn’t have legal authority to impose the duties under an emergency law. The administration’s loss is poised to reverberate across the global economy. The scale and reach of any refund process would be unprecedented.

Private-sector activity in the U.S. slowed in February as tariffs drove costs higher for firms, while Europe expanded at a stronger pace than anticipated as a rebound in industry signaled resilience against lingering headwinds, the Wall Street Journal reported. The S&P Global Flash U.S. Composite PMI—based on a survey of around 650 manufacturers and 500 service providers—fell to 52.3 this month from 53.0 in January. A reading above 50 indicates activity continued to grow.

An Ontario court has agreed to recognize a U.S. bankruptcy filing from the operator of Eddie Bauer’s Canadian stores, the Canadian Press reported. The Ontario Superior Court’s recognition of the case paves the way for any outcomes in the U.S. proceedings to more easily be applied in Canada. When apparel firm Eddie Bauer LLC filed for bankruptcy protection earlier this month, it said it would look to sell its stores while it liquidates its Canadian and American shops. The Ontario court filings show 24 of the company’s 175 North American stores are in Canada.

The United States and Indonesia announced they have signed a trade deal, with Indonesia agreeing to open its borders wider to American goods, the New York Times reported. The deal, announced on Thursday, includes zero tariffs on virtually all U.S. exports to Indonesia and a 19 percent tariff on Indonesian goods. It formalizes an agreement the two countries made last July, making Indonesia the third country in Southeast Asia to lock in lower tariffs after Malaysia and Cambodia. Mr. Trump had threatened Indonesia with a 32 percent tariff at one point last year.

Indonesian and U.S. companies on Wednesday signed deals worth $38.4 billion ahead of Indonesian President Prabowo Subianto's meeting with U.S. President Donald Trump to sign a final trade pact, the Indonesian government said in a statement, Reuters reported. The 11 deals, signed at a dinner for Prabowo hosted by the U.S. Chamber of Commerce, were for partnerships in mining, energy, agribusiness, textiles, furniture and technology sectors, according to the statement.

Earlier this month, President Trump found the latest pressure point to extend his leverage over Canada: a new bridge connecting the country to the United States that is expected to open this year, the New York Times reported. Trump threatened to block the opening, just hours after the billionaire owner of a competing U.S.-Canada bridge met with Howard Lutnick, Trump’s commerce secretary. It wasn’t that the president was particularly passionate about the new bridge.