Direct Loan Canada Blog

Cash-short banks have borrowed about US$300 billion from the Federal Reserve in the past week, the central bank announced Thursday.
Source: ctv business
Fed lent US0B in emergency funds to banks in the past week

Health Canada is warning anyone in possession of a specific Sunbeam brand heated blanket to ‘Immediately stop using and unplug’ it, according to a new recall notice.
Source: ctv business
‘Immediately stop using’ these heated blankets due to fire hazard, Health Canada warns

Empire Company Ltd. said its net earnings hit $125.7 million in its latest quarter as its Sobeys supermarket chain rebounded from a November cyberattack.
Source: ctv business
Empire reports 5.7M net earnings as it rebounds from Sobeys cyberattack

Credit Suisse shares surged Thursday after the Swiss central bank agreed to loan the bank up to 50 billion francs (US$54 billion) to bolster confidence in the country’s second-biggest lender and blunt concerns about the international financial system following the collapse of two U.S. banks.
Source: ctv business
Credit Suisse shares soar after central bank offers lifeline

Stocks flipped to gains Thursday amid hopes for help for a bank at the center of Wall Street’s hunt for what’s next to crack in the struggling industry.
Source: ctv business
Wall Street steadies, though smaller banks continue to slide

Most Canadian businesses that answered federal and provincial calls during the pandemic to build up a domestic sector for personal protective equipment have collapsed.
Source: ctv business
The rise and fall of Canada’s domestic PPE market

A former Wells Fargo Bank executive accused of overseeing a ruse that created millions of bogus customer accounts has agreed to plead guilty to criminal charges likely to send her prison for her role in the scandal.
Source: ctv business
Ex-Wells Fargo exec to plead guilty for role in bank scandal

Kellogg has picked a name for its new spinoff companies. They sound a lot like their old names, but with a new spin. The unit that houses its snacks, including Cheez-It and Pringles, plus its international cereal brands and plant-based foods will be called ‘Kellanova.’
Source: ctv business
Cheez-It and Pringles company gets a new name

The SAQ is drastically scaling back its supply of cold drinks. The crown corporation says it plans to remove the majority of refrigerators from stores across the province to reduce greenhouse gas emissions.
Source: ctv business
No more cold drinks: Most of Quebec’s liquor stores are getting rid of their fridges

Following the collapse of Silicon Valley Bank (SVB), experts say the prospect of a bank failure in Canada remains low and highlight the process by which depositors could get their money back.
Source: ctv business
After Silicon Valley Bank’s collapse, what would happen if a Canadian bank failed?