Direct Loan Canada Blog

Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is ‘sound’ but additional rescue arrangements ‘could be warranted’ if any new failures at smaller institutions pose a risk to financial stability.
Source: ctv business
Yellen says bank situation stabilizing, different from 2008

The man responsible for running Venezuela’s oil industry — the one that pays for virtually everything in the troubled country, from subsidized food to ridiculously cheap gas — has quit amid investigations into alleged corruption among officials in various parts of the government.
Source: ctv business
Venezuela oil czar in surprise resignation amid graft probes

Nordstrom is expected to begin liquidating its stores across Canada today.
Source: ctv business
Nordstrom Canada liquidation sales expected to begin today as store prepares for exit

Strength in energy stocks as well as the financial and technology sectors helped Canada’s main stock index gain more than 150 points in late-morning trading, while U.S. stock markets also pushed higher.
Source: ctv business
S&P/TSX composite up more than 150 points, U.S. stock markets also higher

The French government survived a no-confidence vote Monday in the lower chamber of parliament and was expected to survive a second, after its push last week to raise the retirement age from 62 to 64.
Source: ctv business
French government survives 1st no-confidence vote

The Alberta government says it’s moving to force oilpatch companies to make good on their unpaid municipal taxes.
Source: ctv business
Alberta moves to force oilpatch to pay owed taxes above ‘threshold’ amount

Amazon plans to eliminate 9,000 more jobs in the next few weeks, CEO Andy Jassy said in a memo to staff on Monday.
Source: ctv business
Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000

The liquidation sales at Nordstrom stores across Canada will begin Tuesday.
Source: ctv business
Nordstrom Canada to begin liquidation Tuesday after receiving court’s permission

Some of the world’s largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal.
Source: ctv business
Canada’s central bank joins others in effort to calm markets after UBS deal to buy Credit Suisse

Most of Wall Street is rising Monday after regulators pushed together two huge banks over the weekend and made other moves to build confidence in the struggling industry.
Source: ctv business
Wall Street strengthens after big bank deal, regulator moves