Norway's $1.5 trillion sovereign wealth fund, the world's largest, said on Friday it has been appointed by a U.S. court to co-lead an ongoing U.S. securities class action relating to the now-bankrupt Silicon Valley Bank (SVB), Reuters reported. SVB's collapse in March was the trigger for the worst banking shock since the 2008 global financial crisis, sending bank stocks globally on a wild ride.

A Chilean wind farm operator backed by Latin American Power has filed for bankruptcy in the U.S. with a restructuring deal that would provide financial relief from a debt default due to increased competition and severe drought, WSJ Pro Bankruptcy reported. Santiago-based Inversiones Latin America Power filed for chapter 11 Thursday in the U.S. Bankruptcy Court in Manhattan, with more than $400 million of debt.

Binance Holdings Ltd.’s attempt to turn the page on costly regulatory violations faces a test in Thailand, where the world’s largest crypto exchange will soon start a new trading venue with one of Asia’s richest men, Bloomberg News reported. The venture with Sarath Ratanavadi’s Gulf Energy Development Pcl recently received the required licenses, but Binance’s guilty plea last week and $4.3 billion in penalties for US anti-money laundering and sanctions contraventions have cast a shadow over the planned domestic digital-asset platform.

The Bank of England's decision to hold its policy interest rate steady on Thursday puts the world's three major central banks in a "higher-for-longer" holding pattern the length of which will hinge on how inflation behaves, the strength of U.S. growth and the depth of developing slowdowns in Europe and the UK, and whether bond markets sustain the higher borrowing costs that have attracted notice on both sides of the Atlantic, Reuters reported.

Canadian Finance Minister Chrystia Freeland said on Tuesday that she was cautiously optimistic about settling a dispute with the United States about Ottawa's planned digital services tax (DST) on large technology companies, Reuters reported. The digital services plan aims to address the challenge of taxing digital giants like Alphabet and Amazon.com that can book their profits in low-tax countries. The U.S. government has repeatedly objected to the planned Canadian tax. Washington says it unfairly singles out U.S. firms, and urged Ottawa to scrap the plan.

A senior U.S. Treasury official on Monday said there were signs of "potential improvement" in sovereign debt restructuring cases and more vulnerable countries were expected to seek help, but further work was needed to accelerate the process, Reuters reported. Treasury Assistant Secretary for International Finance Brent Neiman noted advances in the cases of Zambia, Ghana and Sri Lanka over the past year, along with development of new technical approaches, adding his hope that Ghana would reach agreement on its external restructuring in the coming weeks.

Throughout the Covid-19 pandemic and then Russia’s invasion of Ukraine, both the U.S. and Europe borrowed heavily. Now with those emergencies in the rearview mirror, a divergence has emerged: Even as the U.S. continues to let deficits rip, Europe’s are on track to narrow significantly, the Wall Street Journal reported. This is in contrast to a decade ago, when deficits in the wake of the global financial crisis pushed some members of the euro area to the brink of default.

Signa Sports United has closed its U.S. offices, which included operations for the Vitus and Nukeproof bike brands and the Hotlines wholesale distribution business, all based in Park City. Signa, headquartered in Berlin, announced earlier this week that it had lost access to a 150 million euro ($159 million) equity commitment from its parent company, BicycleRetailer.com reported. The company has reported serious liquidity challenges and had begun the process of delisting from the New York Stock Exchange.

Dabur India said on Wednesday its subsidiaries were among companies sued in the U.S. and Canada by customers alleging that the use of hair relaxer products had caused ovarian cancer, uterine cancer and other health issues, Reuters reported. "Currently, the cases are in the pleadings and early discovery phases of litigation," it said in an exchange filing, adding the allegations are based on "unsubstantiated and incomplete" study.