Direct Loan Canada Blog

The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
Source: ctv business
‘Canadians can breathe a sigh of relief’: Bank of Canada Governor on interest rate cut

Canada’s labour tribunal says the federal government’s directive to end the countrywide rail shutdown in August marked an ‘unprecedented’ move.
Source: ctv business
Feds’ order to end rail shutdown ‘unprecedented,’ labour tribunal says

The Asian American boba milk tea brand, Twrl, have a chance to pitch a pretty well-known investor — actor Simu Liu. The irony is that it came about after the owners posted a video on TikTok in support of Liu calling out the white owners of a boba drink brand for cultural appropriation on “Dragons’ Den,” the Canadian version of “Shark Tank.”
Source: ctv business
Asian American boba brand finds opportunity after Simu Liu sparks cultural appropriation debate

Small businesses on Prince Edward Island are calling for the removal of the $50.25 Confederation Bridge toll.
Source: ctv business
Campaign launched to eliminate Confederation Bridge toll

A film production company that helped make “Blade Runner 2049” has sued Tesla and its CEO Elon Musk for using an AI-generated image resembling a scene from the science fiction movie to market Tesla’s new robotaxis.
Source: ctv business
‘Blade Runner 2049’ producers sue Elon Musk and Tesla over AI image at robotaxi event

A seasoned Quebec television executive has been appointed as the next president and CEO of CBC/Radio-Canada.
Source: ctv business
Veteran Quebec TV exec Marie-Philippe Bouchard named new CEO of CBC/Radio-Canada

Quebec television executive Marie-Philippe Bouchard’s appointment as the next president and CEO of CBC/Radio-Canada comes with big challenges at the beleaguered public broadcaster, say observers who emphasized the need for renewed trust and a revamped funding model.
Source: ctv business
Bouchard must build trust as next CEO of CBC/Radio-Canada CEO, say observers

Former Abercrombie & Fitch CEO Michael Jeffries, his romantic partner and a third man were arrested Tuesday on sex trafficking and interstate prostitution charges, a spokesperson for federal prosecutors said.
Source: ctv business
Former Abercrombie & Fitch chief Mike Jeffries arrested on federal sex trafficking charges

Some businesses paid a ransom of more than $500,000 after a cyberattack last year, new Statistics Canada data revealed.
Source: ctv business
Huge ransoms paid out by some Canadian businesses: StatCan

A Waterloo, Ont. tech company says it’s been removed from the U.S. Department of Commerce’s entity list, after previously supplying technology allegedly used for mass surveillance and censorship.
Source: ctv business
Waterloo, Ont. company removed from U.S. entity list after supplying tech used for surveillance, spyware