Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.

Canada, Mexico sign ‘strategic’ pact in face of U.S. trade warOpen this photo in gallery:

Prime Minister Mark Carney and Mexican President Claudia Sheinbaum, seen arriving at a press conference in Mexico City Thursday, have announced a pact to deepen their countries’ economic ties.Manuel Velasquez/Getty Images

During a one-day official visit to Mexico focused on trade and security, Prime Minister Mark Carney and Mexican President Claudia Sheinbaum signed what they call a “strategic comprehensive partnership” pact aimed at deepening two-way trade and investment. The document is also intended to signal the era of indifference in the Canada-Mexico relationship is over, Steven Chase reports. The leaders said they would prioritize the development of trade infrastructure including ports, rail and energy corridors and invest and trade more in areas including energy, critical minerals and agriculture.

The leaders also made a show of unity when asked about the coming USCMA negotiations. “Of course, we are going to co-operate directly, as we always have,” Mr. Carney said at a news conference after the meeting. Ms. Sheinbaum replied that a “trade agreement for all three countries is the best thing for all three countries.” It’s been nearly eight years since a Canadian prime minister visited Mexico outside of a trilateral meeting with the United States.

Anglo American CEO rules out redomiciling to Canada as Ottawa pushes for more concessions in Teck dealOpen this photo in gallery:

Anglo American will not redomicile to Canada as it seeks approval from the federal government for its acquisition of Teck, CEO Duncan Wanblad says.Jennifer Roberts/The Globe and Mail

Earlier this week, The Globe learned that Prime Minister Mark Carney told Anglo American that it had to move its headquarters to Canada or its proposed acquisition of Teck Resources Ltd. would not be allowed to proceed. The London-based company announced last week its all-stock takeover of Vancouver-based Teck worth about US$20-billion, including a slew of promises such as moving its global headquarters to Canada and changing its name to Anglo Teck – but Ottawa must first approve the deal.

But, as Niall McGee reports, the head of Anglo says the mining company isn’t willing to redomicile to Canada. Chief executive officer Duncan Wanblad said that moving the primary stock listing from The London Stock Exchange to the Toronto Stock Exchange is also off the table.

Decoder: Canadian jobless claims are rising fast this year. It’s not all Trump’s fault

The number of unemployed Canadians receiving government benefits has reached the highest level outside of the pandemic period since 2017. The number of Canadians collecting Employment Insurance benefits climbed by 6,600 in July to 552,000, according to Statistics Canada. The agency said that it continues an upward trend that began at the start of the year, adding jobless claims have jumped 13.2 per cent since the end of last year.

While the fallout from the trade war with the United States has contributed to the rise, Canada’s labour woes can’t all be blamed on President Trump. In Ontario, home to many of Canada’s largest manufacturing exporters, the number of EI recipients has been climbing steadily for two years. Jason Kirby takes a closer look at the numbers in this week’s Decoder series.

Bank of Canada, U.S. Federal Reserve resume rate cutsOpen this photo in gallery:

Bank of Canada Governor Tiff Macklem leaves after announcing the central bank’s first rate cut since March.Adrian Wyld/The Canadian Press

The Bank of Canada and the U.S. Federal Reserve resumed interest rate cuts on Wednesday after a long pause. The BoC lowered its policy rate by a quarter-point to 2.5 per cent but offered few hints about where interest rates will go from here. The Fed also had its own quarter-point rate cut – the target range for the federal funds rate was lowered to 4 per cent to 4.25 per cent –and signalled that two more rate cuts are expected this year. Both central banks said they were resuming rate cuts in response to weakening employment and signs that inflation is becoming less of a concern.

Financial markets now put the odds of another quarter-point rate cut from the Bank of Canada in October at around 40 per cent, according to LSEG data. Only one more rate cut is fully priced in over the next year. But a lot will depend on what happens on the trade front.

A summer camp for grown-ups trying to escape the work force foreverOpen this photo in gallery:

CMTO Firescape is a summer camp for financially responsible grown-ups trying to escape the work force forever.Bryan Dickie/The Globe and Mail

At a four-day retreat north of Toronto, followers of a movement called FIRE – financial independence, retire early – are bonded by their shared goal: attaining financial freedom and escaping the work force forever. About 65 people, ranging from their 20s to their 60s, make the pilgrimage to the camp hosted by Belleville, Ont.–based husband and wife Chris and Leslie Potvin. Many are newcomers, while others have been attending for years. The weekend promises a full schedule with guest speakers preaching on topics such as estate planning and Excel shortcuts. But the real draw of the weekend is being surrounded by people who speak the same lingo about money.

Meera Raman visited this year’s camp to understand the roots of the FIRE movement, and speak to its attendees about their financial goals and reasons for pursuing financial independence.

What did the Bank of Canada do this week?

a. It cut interest rates by a quarter-point

b. It cut interest rates by a half-point

c. It held interest rates steady

d. It increased interest rates by a quarter-point

a. It cut interest rates by a quarter-point. The Bank of Canada cut its benchmark rate from 2.75 to 2.5 per cent, lowering borrowing costs for the first time since March as U.S. tariffs continued to batter the Canadian economy.

Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe’s investing calendar.