Direct Loan Canada Blog

Music streaming service Spotify said Monday it’s cutting 6 per cent of its global workforce, or about 600 jobs, becoming yet another tech company forced to rethink its pandemic-era expansion as the economic outlook weakens.
Source: ctv business
Spotify latest tech name to cut jobs, axes 6 per cent of workforce

Strength in the technology, industrial and energy sectors helped Canada’s main stock index post a triple-digit gain, while U.S. stock markets also pushed higher in late-morning trading.
Source: ctv business
S&P/TSX composite posts triple-digit advance, U.S. stock markets also higher

According to a Bank of Canada survey, more than a quarter of Canadians believe that current decades-high prices will drop five years from now.
Source: ctv business
A quarter of Canadians think prices will eventually fall. Here’s why that’s unlikely

Sunwing has cancelled a number of winter flights from Regina, Saskatoon and Winnipeg, causing chaos for one Regina couple’s wedding plans as flights for their destination wedding in Mexico were cancelled not once, but twice.
Source: ctv business
‘Why did you even let us rebook?’: Regina couple’s destination wedding disrupted twice by repeated Sunwing cancellations

The Bank of Canada will offer minutes from its policy-setting meeting this week for the first time in its history, a move some analysts say will help restore credibility lost last year amid soaring inflation and encourage out-of-the-box thinking.
Source: ctv business
‘PR job’ or antidote to ‘groupthink’? Bank of Canada to offer policy-meeting minutes

U.S. federal prosecutors have seized nearly US$700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a Friday court filing.
Source: ctv business
Nearly US0 million seized from FTX founder Bankman-Fried

The U.S. Justice Department is investigating the Abbott Laboratories infant formula plant in Michigan that was shut down for months last year due to contamination, the company confirmed.
Source: ctv business
U.S. Justice Department investigating Abbott baby formula plant

Elizabeth Holmes is a flight risk and shouldn’t be allowed to stay out of prison while she appeals her 11-year prison sentence for defrauding investors, federal prosecutors said in court documents.
Source: ctv business
Convicted CEO Elizabeth Holmes is a flight risk: prosecutors

Elon Musk took the witness stand Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening.
Source: ctv business
Elon Musk takes witness stand to defend Tesla buyout tweets

Members of Canada’s technology industry say another wave of layoffs the sector saw this week is tipping the power dynamic back in favour of employers.
Source: ctv business
Wave of tech layoffs tips power back in favour of employers in sector