Prime Minister Mark Carney said on Friday that Canada stands ready to resume trade talks with the United States that President Donald Trump halted over an anti-tariff advertisement issued by Ontario's provincial government, Reuters reported. Trump terminated the talks on Thursday over the video which used Republican icon, former President Ronald Reagan, saying tariffs cause trade wars and economic disaster. In a late-night social media post, Trump called the ad fraudulent.

Bermuda-based captive insurer Northeastern Insurance Co. Ltd. has filed for Chapter 15 bankruptcy protection in the US District Court for the Southern District of New York, citing financial strain caused by the state's extension of the statute of limitations on sex abuse cases, InsuranceBusinessMag.com reported. According to court filings, Northeastern decided, in 2017, to stop underwriting new business and enter a runoff process. At the time, the company said it maintained adequate reserves.

China's Communist Party elite vowed on Thursday to build a modern industrial system and make more efforts to achieve technological self-reliance, moves it sees as key to bolstering its position in its intensifying rivalry with the United States, Reuters reported. As expected, the Party's Central Committee also promised more efforts to expand domestic demand and improve people's livelihoods - long-standing goals that in recent years have been little more than an afterthought as China prioritised manufacturing and investment - without giving many details.

The U.S.’s new sanctions hit at the core of Russia’s faltering war economy, bringing Washington and Europe into alignment in their pressure on Moscow for the first time since the start of the Trump administration, the Wall Street Journal reported. Analysts say the impact of blacklisting Rosneft and Lukoil—Russia’s biggest oil producers—will hinge on three things: how well they are enforced, the reaction of major markets in India and China, and whether Moscow can circumvent the measures. The new U.S. sanctions “mark the most material move to date by the U.S.

Canada offered tariff relief on some steel and aluminum products imported from the U.S. and China, a government document showed, in efforts to help domestic businesses battered by a trade war on two fronts, Reuters reported. Prime Minister Mark Carney is negotiating with U.S. President Donald Trump, who imposed tariffs on Canadian steel and aluminum. His team also met with Chinese counterparts last week in an effort to secure relief on Chinese tariffs on Canadian agricultural goods. Canada's economy has come under strain as the impact of tariffs on Canadian exports to the U.S.

A group of banks including JPMorgan Chase, Bank of America and Goldman Sachs is struggling to put together a $20 billion loan to Argentina without leaving themselves too exposed to the financially distressed South American country, the Wall Street Journal reported. The bank loans would be part of the Trump administration’s plan to backstop the finances of libertarian President Javier Milei’s government with a $40 billion package, including a $20 billion currency swap with the U.S. Treasury Department and the separate $20 billion bank-led debt facility.

The United States has been at the nexus of a data center boom, as OpenAI, Amazon, Google, Microsoft and others invest hundreds of billions to build the giant computing sites in the name of advancing artificial intelligence. But the companies have also exported the construction frenzy abroad, with less scrutiny, the New York Times reported. Nearly 60 percent of the 1,244 largest data centers in the world were outside the United States as of the end of June, according to an analysis by Synergy Research Group, which studies the industry.

Company insolvencies in Scotland saw a sharp increase in September 2025, rising 41% compared to the same month last year, Scottish Financial News reported. Official figures show 103 companies became insolvent. This total was comprised of 50 creditors’ voluntary liquidations (CVLs), 48 compulsory liquidations, and five administrations. Despite the monthly surge, the overall insolvency rate for the year to September 2025 showed a slight improvement.

Thousands of people in Britain are suing the health care giant Johnson & Johnson over claims that the company’s baby powder caused cancer, mirroring a long-running litigation battle in the United States over the talc-based product, the New York Times reported. More than 3,000 people have joined the lawsuit, which was filed in Britain’s High Court on Tuesday. The initial value of the claim is 1 billion pounds ($1.3 billion), said KP Law, which filed the case on behalf of the individuals. It is the first group claim against the company in Britain.

A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA), the Insurance Journal reported. Northeast Insurance Co. has filed for “winding-up” of its business in Bermuda Supreme Court and has submitted a Chapter 15 filing in federal bankruptcy court in New York asking it to recognize those Bermuda liquidation proceedings.