Direct Loan Canada Blog

Canada’s inflation rate edged down to 3.8 per cent last month as price pressures eased across the economy, setting the stage for the Bank of Canada to hold its key interest rate steady next week, economists say.
Source: ctv business
Slowdown in inflation supports interest rate pause next week, economists say

A recent Catalyst study found that 66 per cent of marginalized racial and ethnic background employees face workplace racism in their careers.
Source: ctv business
Two-thirds of workers from marginalized backgrounds face racism at their jobs: survey

A former FTX executive and one-time billionaire testified against the cryptocurrency exchange’s founder, Sam Bankman-Fried, on Monday at his fraud trial, saying his admiration for him faded as he watched excessive spending on investments, property and celebrities precede a US$13 billion shortfall that left him feeling ‘blindsided and horrified.’
Source: ctv business
Ex-FTX exec was ‘horrified’ last year when he learned of US billion shortfall

Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits
Source: ctv business
Rite Aid seeks Chapter 11 bankruptcy protection as it deals with lawsuits and losses

After asking the federal telecommunications regulator to waive local news and Canadian programming requirements for its television stations, BCE Inc.’s media arm is seeking to appeal a CRTC decision that renewed its broadcast licences for three more years.
Source: ctv business
Bell Media seeks appeal to CRTC’s renewal of broadcast licences

LinkedIn said Monday it is laying off hundreds of employees amounting to about 3 per cent of the social media company’s workforce. The Microsoft-owned career network is cutting about 668 roles across its engineering, product, talent and finance teams.
Source: ctv business
LinkedIn cuts more than 600 workers, about 3 per cent of workforce

Ford Motor Co. Executive Chairman Bill Ford called on autoworkers to come together to end a monthlong strike that he says could cost the company the ability to invest in the future.
Source: ctv business
Ford Executive Chair Bill Ford calls on autoworkers to end strike, says company’s future is at stake

Canadian business sentiment continued to weaken in the third quarter, according to the Bank of Canada’s latest business outlook survey, as companies said they expect sales growth to slow over the coming year.
Source: ctv business
Business gloom deepens as sales moderate, Bank of Canada survey finds

Two key indicators of the economy climbed in August as Statistics Canada reported manufacturing sales rose 0.7 per cent to $72.4 billion that month, while wholesale trade sales excluding petroleum, petroleum products and other hydrocarbons, and excluding oilseed and grain, increased 2.3 per cent to $83 billion.
Source: ctv business
Manufacturing sales, wholesale trade climb in August: Statistics Canada

As more and more homeowners face mortgage renewals at surprisingly higher interest rates, some are facing the dreaded prospect of having to sell a home they can no longer afford.
Source: ctv business
Homeowners on the brink face tough choice of selling home as mortgage payments climb