Direct Loan Canada Blog

The U.S. Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But the Fed announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing.
Source: ctv business
U.S. Federal Reserve raises key rate by half-point and signals more to come

Sam Bankman-Fried, founder and former CEO of the failed cryptocurrency exchange FTX, helped 1,500 Bahamian investors remove $100 million from their accounts while other customers around the world were locked out of the exchange, according to the company’s new CEO, who testified before a House committee Tuesday.
Source: ctv business
New FTX CEO says lax oversight, bad decisions caused failure

Closing arguments are expected to continue before the Competition Tribunal today, as the organization weighs whether the $26-billion merger of Rogers Communications Inc. and Shaw Communications Inc. should be blocked.
Source: ctv business
Closing arguments to continue in Rogers-Shaw case before Competition Tribunal

Taxpayers’ Ombudsperson Francois Boileau says the Canada Revenue Agency should warn Canadians applying for benefits about the risk of potential clawbacks to other income supports.
Source: ctv business
CRA should warn benefits applicants about risk of clawbacks: Taxpayers’ watchdog

The number of complaints about the Canada Revenue Agency (CRA) filed with the taxpayers’ watchdog more than doubled in the last fiscal year compared to pre-pandemic numbers, according to Taxpayers’ Ombudsperson Francois Boileau.
Source: ctv business
Complaints about CRA up 70 per cent from pre-pandemic year: taxpayers’ watchdog

Job search company Indeed says postings on its site for Canadian tech roles have dropped 32 per cent since May and are showing no signs of stabilizing as the sector grapples with layoffs.
Source: ctv business
Tech job postings down 32 per cent since May, nearing pre-pandemic levels: Indeed

TC Energy Corp. says it has recovered nearly 2,600 barrels of oil and water from a creek following a leak in its Keystone pipeline last week.
Source: ctv business
TC Energy recovers nearly 2,600 barrels of oil and water from Keystone leak

Do Kwon, a disgraced tycoon behind the collapse of the TerraUSD and Luna coins that roiled the crypto assets market in May, is hiding in Serbia, according to South Korean prosecutors who are seeking to take him into custody.
Source: ctv business
South Korea says crypto fugitive Do Kwon is hiding in Serbia

The European Union’s parliament was reeling Tuesday, it’s credibility under threat, as a corruption and bribery scandal damaged lawmakers’ careers and as fingers pointed at Qatari officials accused of seeking to play down labour rights concerns ahead of the soccer World Cup.
Source: ctv business
EU reels as scandal tarnishes parliament’s credibility

U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations on Tuesday, alleging he played a central role in the rapid collapse of FTX and hid its problems from the public and investors.
Source: ctv business
FTX’s Bankman-Fried charged by U.S. for ‘scheme’ to defraud