Direct Loan Canada Blog

Oil giant Saudi Aramco reported Sunday earning US$161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists.
Source: ctv business
Oil giant Saudi Aramco makes a historic US1B profit in 2022

A federal lawsuit in California is pitting the Saudi-owned golf tour upstart LIV against the PGA Tour after a judge found that when it came to the new golf league, Saudi officials and the Saudi government aren’t shielded from U.S. courts the way sovereign nations usually are.
Source: ctv business
Saudi Arabia’s golf case threatens to spill kingdom secrets

China on Sunday reappointed Yi Gang as head of the central bank in an effort to reassure entrepreneurs and financial markets by showing continuity at the top while other economic officials change.
Source: ctv business
Favouring continuity, China reappoints central bank governor

Silicon Valley Bank, experienced one of the oldest problems in banking — a bank run — which led to its failure on Friday. Here’s what to know about why the bank failed, who was affected most, and what to know about how it may, and may not affect, the wider banking system in the U.S.
Source: ctv business
A major U.S. bank failed. Here’s why it’s not 2008 again

Passengers travelling with Flair Airlines were ‘impacted’ on Saturday after four of its leased aircraft were seized in Toronto, Edmonton and Waterloo, Ont., in what the company described as a ‘commercial dispute.’
Source: ctv business
Flair Airlines says four of its aircraft seized in a ‘commercial dispute’

Asia’s richest man, Mukesh Ambani, has announced plans to relaunch an iconic 1970s soda brand that once rivalled Coca-Cola and Pepsi, prompting a wave of nostalgia on social media among the millions of Indians who grew up drinking the beverage.
Source: ctv business
Asia’s richest man to relaunch iconic 1970s Indian soda that once rivaled Coca-Cola

This week, the go-to bank for U.S. tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.
Source: ctv business
How does a bank collapse in 48 hours? A timeline of the SVB fall

U.S. regulators rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago.
Source: ctv business
Silicon Valley Bank is seized by U.S. regulators after historic failure

U.S. regulators rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago.
Source: ctv business
One of Silicon Valley’s top banks fails; assets are seized

The federal government gave the thumbs-up Friday to WestJet Airlines’ takeover of Sunwing Airlines and Sunwing Vacations in a major consolidation of the Canadian aviation market following a tumultuous year for travel.
Source: ctv business
Ottawa greenlights WestJet’s takeover of Sunwing