Direct Loan Canada Blog

The richest person in the world just hit an even higher milestone. Elon Musk’s net worth has reached US$400 billion, according to Bloomberg, making him the first person ever to cross that mark.
Source: ctv business
Elon Musk becomes the first person to reach a net worth of US0 billion

Canadian financial institutions are lowering their prime lending rates to match the decrease announced by the Bank of Canada.
Source: ctv business
Banks lower prime rates following Bank of Canada move

A former TD Bank employee based in Florida was arrested and charged with facilitating money laundering to Colombia, New Jersey’s attorney general said on Wednesday, in the first such arrest since the Canadian lender paid a US$3 billion fine.
Source: ctv business
U.S. charges ex-TD Bank employee with helping to launder money to Colombia

Meta users are experiencing a widespread outage, including applications like WhatsApp, Instagram, Facebook and Facebook Messenger, according to third-party website Downdetector.com.
Source: ctv business
Meta working on resolving Facebook, Instagram outage

Canada’s financial intelligence agency says it has imposed an administrative penalty of $2.46 million against Exchange Bank of Canada for non-compliance with money-laundering rules.
Source: ctv business
Exchange Bank of Canada fined .46M by Fintrac for anti-money laundering failures

The Superior Court of Quebec has approved a $2.5 million settlement in a class action targeting Dollarama Inc.’s use of eco fees.
Source: ctv business
Quebec court approves .5M settlement in Dollarama eco fees class action

Albertsons is giving up on its merger with Kroger and it is suing the grocery chain, saying it didn’t do enough to secure regulatory approval for the US$24.6 billion agreement.
Source: ctv business
Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal

OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group’s fifth consecutive downward revision.
Source: ctv business
OPEC again cuts 2024, 2025 oil demand growth forecasts

Clothing retailer Roots Corp. reported a third-quarter profit of $2.4 million, up from a profit of $519,000 in the same quarter last year.
Source: ctv business
Retailer Roots reports .4-million third-quarter profit, up from 9,000 a year ago

Canada’s central bank has cut its key rate for the fifth consecutive time – now sitting at 3.25 per cent – as the country’s economy grows at a slower rate than projected.
Source: ctv business
Bank of Canada drops key interest rate to 3.25%, Trump tariff threat ‘new source of uncertainty’