Direct Loan Canada Blog

Statistics Canada says November saw the lowest number of employment insurance beneficiaries on record in 25 years. The federal agency says November marked the lowest number of people receiving EI since comparable data became available in 1997, with the exception of the summer of 2020 when the Canadian Emergency Response Benefit was in place.
Source: ctv business
Statistics Canada says November saw lowest number of people on EI in 25 years

Source: ctv business
Tech industry job cuts come rapidly and in big numbers

Elites from politics, business, academia and the arts on Friday wrapped up the World Economic Forum ‘s annual conclave in the Swiss town of Davos — where worries about the war in Ukraine, a warming planet and a cooling global economy dominated discussions about the world’s ills.
Source: ctv business
Ukraine, climate, economy: Takeaways from glitzy Davos event

A British judge on Friday rejected a lawsuit that accused the U.K. government of allowing the import of cotton products associated with forced labor in China’s Xinjiang region.
Source: ctv business
U.K. judge rejects Uyghur bid to halt Xinjiang cotton imports

Statistics Canada says retail sales dropped 0.1 per cent to $61.8 billion in November. The federal agency says its preliminary estimate for December suggests retail sales edged back up 0.5 per cent for that month, though it cautioned the figure would be revised.
Source: ctv business
Canadian retail sales fell 0.1 per cent to .8 billion in November

The net worth of Hui Ka Yan, chairman of real estate developer China Evergrande, has plunged nearly 93 per cent, according to the Bloomberg Billionaires Index. Once the second-richest person in Asia, Hui’s wealth has fallen from $42 billion at its peak in 2017 to about $3 billion, Bloomberg said.
Source: ctv business
This Chinese billionaire has lost over 90 per cent of his fortune

Japan’s consumer inflation rate hit a 41-year high of 4% in December, as prices for everything from burgers to gas surged.
Source: ctv business
Japan reports inflation hit 4 per cent, 41-year high in December

The lending unit of crypto firm Genesis filed on Thursday for U.S. bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi.
Source: ctv business
Crypto lending unit of Genesis files for U.S. bankruptcy

Google is laying off 12,000 workers, or about 6 per cent of its workforce, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs.
Source: ctv business
Google axes 12,000 jobs as layoffs spread across tech sector

Canada’s main stock index was up in early morning trading amid broad-based gains led by the battery metals and industrial sectors, while U.S. stock markets also climbed.
Source: ctv business
Battery metals and industrials help lead S&P/TSX composite up in late-morning trading