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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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Tariff Tensions Rattle Wall Street Ahead of Earnings and Inflation Data

Wall Street futures dipped Monday morning as investors braced for a volatile week marked by fresh tariff threats and a flood of economic data. President Donald Trump’s announcement of a 30% tariff on imports from the European Union and Mexico, set to begin August 1, sent ripples through global markets.

Major U.S. index futures—Dow, S&P 500, and Nasdaq—were all down roughly 0.3% in premarket trading. While the EU signaled a willingness to negotiate, the looming deadline has heightened uncertainty. Analysts suggest the market’s muted reaction reflects a growing belief that such threats are part of Trump’s negotiation strategy.

This week’s economic calendar is packed, with June’s Consumer Price Index (CPI) report due Tuesday, followed by wholesale inflation, retail sales, and industrial production data. These figures will be closely watched for signs of how tariffs may be influencing inflation and consumer behavior.

Meanwhile, second-quarter earnings season kicks off, with major banks like JPMorgan Chase, Wells Fargo, and Citigroup reporting Tuesday, followed by tech and consumer giants later in the week. Investors are eager to see how companies are navigating trade tensions and inflationary pressures.

Adding to the drama, tensions between the White House and the Federal Reserve are escalating. Trump’s economic adviser hinted at possible action against Fed Chair Jerome Powell, citing cost overruns on the Fed’s headquarters renovation.

Despite the turbulence, some bright spots emerged: Bitcoin surged past $120,000, and Boeing rose 2% in premarket trading after a favorable safety report.

With trade threats, inflation data, and earnings all converging, Wall Street is entering a week that could reshape investor sentiment heading into the second half of the year.

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