Direct Loan Canada Blog

Canadian National Railway Co. announced a new North American container shipping service Monday, upping its financial forecast for the year on the heels of record first-quarter revenues brought on by a bumper grain crop and higher oil prices.
Source: ctv business
CN Rail unveils new continental shipping service in bid to match rival’s vast network

David’s Bridal, the largest wedding gown store in North America, has filed for bankruptcy protection in the U.S. for the second time in five years.
Source: ctv business
David’s Bridal granted creditor protection in Canada amid bankruptcy hearings in U.S.

Transport Minister Omar Alghabra says airlines’ use of loopholes around traveller compensation ‘left government no choice’ but to strengthen passenger rights rules.
Source: ctv business
Airlines’ use of loopholes ‘left government no choice’ but to beef up passenger rights: Minister

Airlines say it goes too far. Advocates say not far enough. The proposed overhaul of Canada’s passenger rights charter earned mixed reviews Monday after Transport Minister Omar Alghabra laid out measures to tighten loopholes to traveller compensation and toughen penalties.
Source: ctv business
Passenger rights overhaul draws criticism from both sides — airlines and advocates

Employees at Berlin and Hamburg airports staged walkouts on Monday in an ongoing dispute over salary raises, leading to flight cancellations in both German cities.
Source: ctv business
Airport strikes lead to cancellations in Berlin, Hamburg

Ailing bank Credit Suisse on Monday reported over 61 billion Swiss francs (nearly US $69 billion) in outflows in the first three months of the year, when Switzerland’s government arranged for its takeover by rival UBS, and said clients are still withdrawing assets.
Source: ctv business
Credit Suisse saw US billion in outflows at start of 2023

Canada’s main stock index was down in late-morning trading as losses in technology stocks helped lead the way lower, while U.S. markets were mixed.
Source: ctv business
Technology stocks down as S&P/TSX composite falls, U.S. stock markets mixed

An American Airlines plane was forced to return to the airport Sunday morning in Columbus, Ohio, after a possible bird strike may have sparked an engine fire.
Source: ctv business
American Airlines plane engine reportedly catches fire after possible bird strike

Russia barred Canadian, American, British and European Union operators from its airspace more than a year ago in response to prohibitions against it by those states and others that support Ukraine. With Canadian planes forced to detour, this means longer trips and ultimately higher fares for passengers amid soaring inflation.
Source: ctv business
Russian airspace ban means pricier flights for Canadian travellers and airlines

Bed Bath & Beyond — one of the original big box retailers known for its seemingly endless offerings of sheets, towels and kitchen gadgets — filed for bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans.
Source: ctv business
Struggling Bed Bath & Beyond files for bankruptcy protection