Direct Loan Canada Blog

The Internal Revenue Service says Microsoft owes the U.S. Treasury US$28.9 billion in back taxes, plus penalties and interest, the company revealed Wednesday in a securities filing.
Source: ctv business
The IRS says Microsoft may owe about US billion in back taxes. Microsoft disagrees

Law enforcement seized over 45,000 marijuana plants and over 700 pounds of processed marijuana during a raid earlier this week at a Love County farm.
Source: ctv business
Over 45,000 marijuana plants, 700 pounds of processed marijuana seized during raid at Love County farm

Canada’s main stock index posted a triple-digit decline in late-morning trading, weighed down by losses in the base metal, telecommunication and utility sectors, while U.S. stock markets were mixed.
Source: ctv business
S&P/TSX composite down 100 points, U.S. stock markets mixed

Uber Canada said it is “reviewing all legal options” after the City of Toronto approved a motion to cap the number of rideshare drivers at current levels.
Source: ctv business
Uber reviewing legal options after Toronto freezes licences for ride-share drivers

Gas prices saw a sudden spike in Vancouver Thursday and an expert says volatility at the pumps is expected to last at least another month.
Source: ctv business
Vancouver gas prices jump 10 cents overnight

A British judge ruled in favor of Richard Branson’s Virgin group on Thursday in its lawsuit against a U.S. train company that terminated a licensing agreement and claimed the Virgin brand was no longer one of “high repute.”
Source: ctv business
Branson’s Virgin wins a lawsuit against a Florida train firm that said it was a tarnished brand

The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap.
Source: ctv business
The U.S. government sanctions two shipping companies for violating the Russian oil price cap

An environmental group has lodged a formal complaint with the Alberta Securities Commission over Suncor Energy Inc.’s climate risk disclosures.
Source: ctv business
Greenpeace files securities complaint against Suncor over climate risk disclosures

Representatives of the B.C. government committed “misfeasance” when they denied permits for a hydroelectric project near Squamish in 2008, leaving the province liable for more than $10 million in damages to the project’s would-be developer, the B.C. Supreme Court has ruled.
Source: ctv business
Province of B.C. liable for M in damages for ‘misfeasance’ in hydroelectric approval process

Major grocers in Canada are not yet confirming whether they have committed to special promotions to stabilize grocery prices, as was recently promised by the federal government.
Source: ctv business
Major Canadian grocers won’t confirm discounts, price freezes feds promised last week