Direct Loan Canada Blog

The value proposition for Serve Robotics — a spinoff of Uber’s 2020 food delivery acquisition Postmates that created a fleet of zero-emission robots — is simple: with slim restaurant margins, a labour crunch and climate change worries ‘why move a two-pound burrito in a two-ton car?’ But the company faces several roadblocks the path to ubiquity.
Source: ctv business
Food delivery robots hit Canadian sidewalks, but many challenges delay mass adoption

As the Bank of Canada considers ditching oversized interest rate hikes, it is dealing with an economy likely more overheated than previously thought but also the bond market’s clearest signal yet that recession and lower inflation lie ahead.
Source: ctv business
Canada’s inverted yield curve adds to BoC rate hike dilemma

A new report shows house prices need to drop by more than $500,000 for millennials to be able to afford a home in Ontario.
Source: ctv business
Ontario millennials need to save for over 20 years for down payment on a home: report

Russian authorities rejected a price cap on the country’s oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it.
Source: ctv business
Russia rejects US-a-barrel cap on its oil, warns of cutoffs

Two watchdog groups published research that indicated new Twitter owner Elon Musk’s claim that “hate speech impressions” had dramatically fallen on the platform since he took over simply did not hold water.
Source: ctv business
Hate speech dramatically surges on Twitter following Elon Musk takeover, new research shows

The Group of Seven nations and Australia agreed Friday to adopt a $60-per-barrel price cap on Russian oil, acting shortly after the European Union reached unanimous agreement on the same price earlier in the day.
Source: ctv business
G7 joins EU on -per-barrel price cap on Russian oil

The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday.
Source: ctv business
BoC expected to end year off with one more rate increase, likely to pause hikes soon

A report by DesRosiers Automotive Consultants says light vehicle sales in November rose 4.1 per cent compared with last year. The firm estimates 114,966 light vehicle were sold last month.
Source: ctv business
November auto sales in Canada up from year ago: DesRosiers report

U.S. prosecutors on Thursday asked a judge to dismiss bank fraud and other charges against Meng Wanzhou, the chief financial officer of China’s Huawei Technologies whose 2018 arrest strained relations between the U.S. and China.
Source: ctv business
U.S. to dismiss charges against Huawei’s Meng Wanzhou

U.S. prosecutors on Thursday asked a judge to dismiss bank fraud and other charges against Meng Wanzhou, the chief financial officer of China’s Huawei Technologies whose 2018 arrest strained relations between the U.S. and China.
Source: ctv business
Four years after Meng Wanzhou’s arrest, U.S. drops last remaining indictment