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Hudson’s Bay Battles Lender Over Ruby Liu Lease Deal in Ontario Court

Hudson’s Bay Co. is pushing back against a motion filed by its senior lender, Restore Capital LLC, which seeks to terminate a controversial lease sale to billionaire Ruby Liu. The retailer has asked the Ontario Superior Court to dismiss the motion, arguing that the deal represents its best chance to recover funds for creditors amid its ongoing liquidation. The dispute centers on Hudson’s Bay’s plan to sell up to 28 store leases—25 of which remain pending court and landlord approval—to Liu’s company, Central Walk. While three leases have already been approved for $6 million, Restore claims the remaining transaction is draining resources, citing over $18 million in rent and professional fees with no clear path to completion. Hudson’s Bay CFO Michael Culhane defended the deal, stating that Restore was fully aware of the risks and had previously supported the transaction. He emphasized that Liu has already made a $9.4 million deposit and that the sale could generate significant recoveries ...
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Escalating Tensions: EU Strikes Back in Brewing Transatlantic Trade War

Brussels vs. Washington: The Economic Crossfire  

In a dramatic turn that could reshape global trade dynamics, the European Union is poised to hit back with €21 billion in retaliatory tariffs following former U.S. President Donald Trump's implementation of a sweeping 30% import tax. The tariffs, which target American goods across multiple sectors—ranging from technology and agriculture to automobiles—signal a significant escalation in transatlantic tensions.

Officials in Brussels argue that Trump's measures are protectionist and threaten the principles of free and fair trade. By levying high duties on EU exports, the U.S. has sparked fears of a domino effect that could reverberate through global markets, stifling growth and destabilizing supply chains.

 “Europe cannot sit idly by while its industries are unfairly targeted,” said one senior EU official involved in the negotiations. “This is about defending our economic interests and restoring balance.”

Economists warn that the standoff could strain relationships within the World Trade Organization and push other trading blocs to adopt more defensive postures. With diplomatic talks stalling and both sides firm in their positions, companies are bracing for increased costs and shifting trade routes.

The coming weeks will be critical in determining whether cooler heads prevail or whether the spiral into a full-blown trade war becomes inevitable.


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