Direct Loan Canada Blog

While Canada’s largest banks are charging more to lend money due to high interest rates, experts say they are failing to increase savings account rates in a similar way. Aimed at taming inflation, the Bank of Canada began implementing a series of interest rate hikes in March 2022.
Source: ctv business
Why are Canadian banks quick to charge more for borrowing, but slow to increase savings account rates?

With tax season underway, a survey conducted by H&R Block Canada reveals that 44 per cent of Canadian gig workers are willing to risk the consequences of not claiming all their income.
Source: ctv business
Almost half of Canadian gig workers not willing to declare all income at tax time, survey finds

The use of a flip phone, or some non-smartphone, is one of several restrictions that prosecutors and Sam Bankman-Fried’s attorneys are jointly asking the judge to approve.
Source: ctv business
Prosecutors want Sam Bankman-Fried to use a flip phone as part of a more restrictive bail package

The Biden administration is close to tightening rules on some overseas investments by U.S. companies in an effort to limit China’s ability to acquire technologies that could improve its military prowess, according to a U.S. official familiar with the deliberations.
Source: ctv business
Biden expected to tighten rules on U.S. investment in China

Russia’s ruptured undersea Nord Stream gas pipelines are set to be sealed up and mothballed as there are no immediate plans to repair or reactivate them, sources familiar with the plans have told Reuters.
Source: ctv business
Russia set to mothball damaged Nord Stream gas pipelines: Reuters sources

Nordstrom’s departure from Canada’s retail landscape will leave significant holes in shopping malls, and some analysts say landlords will need to get creative to fill the space.
Source: ctv business
Mall landlords likely to get ‘creative’ to fill Nordstrom vacancies: experts

The World Bank said Friday that Syria sustained an estimated US$5.1 billion in damages in last month’s massive earthquake that struck southeast Turkey and northern parts of the war-torn country.
Source: ctv business
World Bank: Quake caused damage worth US.1 billion in Syria

In another hit to Canada’s retail sector, Nordstrom announced it would close all 13 of its Canadian stores. Here’s what you need to know about the closures, plus what retail experts say about the company’s exit from Canada.
Source: ctv business
Why industry observers were not surprised by Nordstrom’s move to close stores in Canada

Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and shifting landscape of remote work.
Source: ctv business
Amazon pauses construction on 2nd headquarters in Virginia

If young people are spending so much time on social media, it stands to reason that’s a good place to reach them with news. Operators of the News Movement are betting their business on that hunch.
Source: ctv business
Betting on social media as a news destination for the young