Direct Loan Canada Blog

The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly US$4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform.
Source: ctv business
Largest crypto exchange Binance fined US billion, CEO pleads guilty to not stopping money laundering

The inflation rate slowed to 3.1 per cent on a year-over-year basis, down from 3.8 per cent in September, as the price of gasoline fell, Statistics Canada said Tuesday.
Source: ctv business
Statistics Canada says annual inflation rate slowed to 3.1% in October

Canadians whose parents are property owners were twice as likely in 2021 to own a home than those whose parents are not, according to a new report by Statistics Canada.
Source: ctv business
Your parents don’t own a house? You’re less likely to own one yourself, according to StatCan

A ‘groundswell’ of advertising executives have urged X chief executive Linda Yaccarino to resign from her role at the embattled social media company in the wake of an advertiser exodus and scrutiny over owner Elon Musk’s antisemitic remarks on the platform, according to marketing industry veteran Lou Paskalis.
Source: ctv business
Ad execs encourage X CEO Linda Yaccarino to quit after Elon Musk’s antisemitic embrace

Concerns are rising over plans by NextStar Energy Inc. to bring in foreign workers to help build a battery plant in Windsor, Ont., that is being supported by an expected $15 billion in public funding.
Source: ctv business
Concerns emerge over NextStar’s plans to hire foreign workers for battery plant

This year Shopify expects the Black Friday and Cyber Monday sales period to be just as frenzied, but something will be different: shoppers’ moods.
Source: ctv business
Black Friday, Cyber Monday shoppers to focus on quality, timing this year: experts

A new report says the country’s two biggest airlines ranked last for on-time performance among large North American carriers last month.
Source: ctv business
Canadian airlines rank last for on-time arrivals in North America

U.S. auto safety regulators said Monday they had opened a probe into 16 separate recalls issued by Hyundai and Kia covering 6.4 million vehicles relating to brake fluid leaks that could result in fires.
Source: ctv business
U.S. opens investigation into Hyundai, Kia recalls of 6.4 million vehicles over fire risks

Canada’s economy is flirting with recession and the downturn could worsen now that a period of rapid growth in the United States is expected to end, raising bets on the Bank of Canada shifting to interest rate cuts sooner than previously thought.
Source: ctv business
Downturn in Canada’s economy seen deepening if U.S. growth fades

The Canada Revenue Agency has denied or adjusted $458 million in funds disbursed to employers through a pandemic-era wage subsidy program as a result of a partially completed auditing process.
Source: ctv business
CRA claws back 8 million in pandemic-era wage subsidies after partial audit