Direct Loan Canada Blog

A federal judge on Tuesday rejected a proposal to modify Sam Bankman-Fried’s bail conditions, despite an agreement between the FTX cryptocurrency exchange founder and prosecutors to address potential witness tampering concerns.
Source: ctv business
U.S. judge rejects new bail conditions for FTX founder Bankman-Fried

The number of insolvencies filed by Canadian businesses in 2022 was up 37.2 per cent compared with 2021. The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021.
Source: ctv business
Canadian business insolvencies up 37.2 per cent in 2022, consumer insolvencies up 11.2 per cent

Luxury outerwear maker Canada Goose Holdings Inc. has charted a new five-year growth path it says could nearly triple its annual revenue by 2028.
Source: ctv business
Luxury parka maker Canada Goose to expand into eyewear, luggage and home categories

Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey. The eye-watering figure is the largest sum since BMO first started surveying Canadians about their retirement expectations 13 years ago.
Source: ctv business
Canadians now expect to need .7M in order to retire: BMO survey

British energy company BP reported record annual earnings on Tuesday amid growing calls for the U.K. government to boost taxes on companies profiting from the high price of oil and natural gas after Russia’s invasion of Ukraine.
Source: ctv business
U.K. energy company BP’s profits double to US.7 billion

Stocks are drifting on Wall Street Tuesday amid uncertainty in the market about where interest rates and inflation are heading.
Source: ctv business
Wall Street drifts as stocks take a pause after choppy ride

New nationwide strikes disrupted public transport and schools, as well as power, oil and gas supplies in France Tuesday, while tens of thousands of demonstrators marched in a third round of protests against planned pension reforms.
Source: ctv business
French pension reform plan triggers new strikes, protests

A federal judge has sided with Facebook parent Meta and cleared the way for the company to buy virtual reality startup Within Unlimited, the maker of the popular fitness app Supernatural.
Source: ctv business
Meta to buy VR startup Within after favourable court ruling

The tech industry started the year with a wave of job cuts, around 50,000 in January alone, and there doesn’t appear to be any let up this month. Here’s a look at some of the companies that have announced layoffs so far.
Source: ctv business
Big tech job cuts keep coming; Dell latest to trim headcount

A U.S. bankruptcy judge is considering at a Monday court hearing in Delaware whether to greenlight a court-supervised investigation into the collapse of FTX, a course of action that the crypto exchange opposes as redundant and wasteful.
Source: ctv business
FTX judge weighs demand for independent bankruptcy investigation