Direct Loan Canada Blog

A majority of the U.S.’s business economists expect a recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.
Source: ctv business
U.S. recession now expected to begin later than was predicted

The U.K. and the European Union ended years of wrangling on Monday, sealing a deal to resolve their thorny post-Brexit trade dispute over Northern Ireland.
Source: ctv business
U.K., EU hail ‘new chapter’ with deal to fix Brexit trade spat over Northern Ireland

Strength in the base metal and energy sectors helped lead Canada’s main stock index higher in late-morning trading, while U.S. stock markets also moved up.
Source: ctv business
Base metals and energy stocks help lift S&P/TSX composite, U.S. stocks also higher

China on Monday accused the U.S. of ‘outright bullying and double standards’ in levelling what it called ‘illegal’ sanctions on Chinese companies as part of U.S. actions against Russia’s Wagner Group and related companies and individuals.
Source: ctv business
China accuses U.S. of ‘bullying’ with new ‘illegal’ sanctions

New research suggests that a company’s market value is positively linked to climate change initiatives, but the actual outcome of sustainability measures is less important than the optics they create, blurring the line between environmental improvements and corporate greenwashing.
Source: ctv business
Corporate ‘greenwashing’ can satisfy stakeholders without environmental results, study finds

The Quebec Court of Appeal has rejected an Epic Games request to toss the December decision authorizing a class action that argues the company’s video game Fortnite Battle Royale is too ‘addictive.’
Source: ctv business
Quebec court rejects Epic Games appeal, Fortnite lawsuit to proceed

Ajay Banga, U.S. President Joe Biden’s pick to run the World Bank, will face a tough slate of issues around the institution’s finances before he reshapes the bank into a force for combating climate change.
Source: ctv business
Incoming World Bank chief faces tests before he gets to climate

A Florida man has been sentenced to seven years and three months in federal prison for stealing more than US$2.6 million in COVID-19 relief funds.
Source: ctv business
Florida man gets 7 years for US.6M COVID-19 relief fraud

Netflix is cutting its prices in several of its smaller markets in the latest twist on the video streaming service’s efforts to keep its recently revived subscriber growth rolling amid stiffer competition and inflation pressures that are pushing more households to curb their discretionary spending.
Source: ctv business
Netflix cuts prices in some markets to lure more subscribers

Market volatility helped lead to a surge in trading activity for CIBC that boosted first quarter revenue, while a lawsuit settlement pushed earnings down. The bank, the first among the Big Six to report first-quarter results this year, said Friday that its non-trading margins on earnings income also rose in the quarter thanks to rising central bank interest rates, while the same trend is leading to a slowing of loan growth.
Source: ctv business
CIBC sees Q1 trading revenue jump while earnings hit by lawsuit settlement