Direct Loan Canada Blog

Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S.
Source: ctv business
First Republic Bank seized, sold to JPMorgan Chase

The latest historic U.S. banking failure is making few waves in markets, and stocks are drifting Monday as Wall Street braces for what it hopes will be the last hike to interest rates for a long time.
Source: ctv business
Stock market today: Markets steady after latest bank failure

While the company’s legacy as an office supply store in the mall remains in the minds of some Canadian consumers, Grand & Toy has spent nearly a decade returning to its 141-year-old roots as a business-to-business supplier of office products and services.
Source: ctv business
Grand & Toy launches ‘brand refresh’ as it narrows focus to business customers

More than a year after OxyContin maker Purdue Pharma reached a tentative settlement over the toll of opioids that was accepted nearly universally by the groups suing the company, including thousands of people injured by the drug, money is still not rolling out.
Source: ctv business
Frustration grows over wait on OxyContin maker’s settlement

India’s market regulator has asked for a six-month extension to complete its probe into possible lapses in securities market laws and regulatory disclosures by billionaire Gautam Adani’s Adani group, according to a court document seen by Reuters.
Source: ctv business
India market regulator seeks 6-month extension to complete Adani probe: document

A federal judge on Friday rejected a motion from Google to toss out the government’s antitrust case against it.
Source: ctv business
Judge rules against Google, allows antitrust case to proceed

Ukraine on Saturday welcomed the European Union’s hard-fought deal to keep farm exports flowing into and through the bloc to world markets, saying that the Middle East and Africa would specifically stand to benefit from it.
Source: ctv business
Ukraine welcomes EU deal on continued farm exports

The U.S. Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and said the industry needs stricter policing on multiple fronts to prevent future bank failures.
Source: ctv business
U.S. Fed faults Silicon Valley Bank execs, itself in bank failure

Imperial Oil Ltd. is raising its quarterly dividend as it reported it earned $1.25 billion in its first quarter, up from $1.17 billion in the same quarter a year earlier.
Source: ctv business
Imperial Oil reports Q1 profit up from year ago, raises quarterly dividend

The Canadian economy’s strong bounce back at the start of the year appears to have been short-lived, as new data suggests growth is on a downward trajectory.
Source: ctv business
After economy posts strong start to 2023, new data suggests slowdown has begun