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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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Trump’s Strategic Shift: Arms for Ukraine, Sanctions for Russia’s Oil Trade

In a dramatic pivot from previous policy, U.S. President Donald Trump announced a sweeping new initiative to arm Ukraine with advanced weaponry while threatening sanctions on nations that continue purchasing Russian oil. The announcement, made during a press conference with NATO Secretary General Mark Rutte, marks a significant escalation in Washington’s stance toward Moscow amid ongoing conflict in Eastern Europe.

Trump revealed that billions of dollars in U.S.-made weapons—including Patriot air defense missile systems—would be supplied to Ukraine via NATO allies, who would foot the bill. “We’re going to make top-of-the-line weapons, and they’ll be sent to NATO,” Trump said, emphasizing that the delivery would begin within days.

The president also issued a 50-day ultimatum to Russia: agree to a peace deal or face “secondary tariffs” and sanctions targeting countries that buy Russian exports. These measures could include up to 100% tariffs on Russian goods and penalties for nations such as China and India, which have continued energy trade with Moscow despite Western pressure.

The move comes after months of diplomatic overtures from Trump to Russian President Vladimir Putin, which have failed to yield a ceasefire. Frustrated by continued drone and missile attacks on Ukrainian cities, Trump’s tone has hardened. “I don’t want to say he’s an assassin, but he’s a tough guy,” Trump said of Putin, adding that peace talks had repeatedly collapsed due to renewed Russian aggression.

Ukrainian President Volodymyr Zelenskyy welcomed the announcement, noting discussions with Trump’s envoy focused on strengthening air defenses and joint weapons production with Europe. However, some in Kyiv remain cautious, questioning whether Trump’s shift will translate into sustained support.

With bipartisan backing in Congress for even harsher sanctions, including a proposed 500% tariff on nations aiding Russia, Trump’s next steps could reshape global energy markets and redefine the West’s approach to ending the war.

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