Direct Loan Canada Blog

The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve’s aggressive rate hikes intended to tame inflation not seen in some 40 years.
Source: ctv business
Average long-term U.S. mortgage rate jumps above 7 per cent this week

Credit Suisse will raise US$4 billion to step back from Wall Street and double down on managing the finances of the world’s wealthy, the scandal-plagued Swiss bank said on Thursday.
Source: ctv business
Credit Suisse announces ‘radical’ restructuring with Saudi backing

Source: ctv business
Samsung officially names third-generation heir Lee chairman

Mercedes-Benz said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country.
Source: ctv business
Mercedes-Benz to quit Russian market, sell shares to local investor

The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates Thursday at the fastest pace in the euro currency’s history and raising questions about how far the bank intends to go with a recession looming over the economy.
Source: ctv business
European Central Bank makes another large interest rate hike

A senior UN official said Wednesday he is ‘relatively optimistic’ the deal for returning Ukrainian grain and Russian grain and fertilizer to world markets will be extended beyond mid-November, but Russia’s UN ambassador said Moscow needs to see movement on its own exports first.
Source: ctv business
UN optimistic on Ukraine grain deal; Russia has reservations

Shopify Inc. reported a net loss of US$158.4 million in its latest quarter compared with a net profit of nearly US$1.15 billion a year ago.
Source: ctv business
Shopify reports third-quarter loss, revenue up 22 per cent from year ago

U.S. futures are mixed Thursday ahead of an update on the U.S. economy and another hefty slate of corporate earnings.
Source: ctv business
U.S. futures mixed ahead of U.S. economic data, corporate earns

The International Monetary Fund reached a preliminary agreement with the Egyptian government Thursday that paves the way for the economically troubled Arab nation to access a US$3 billion loan, officials said Thursday.
Source: ctv business
Egypt, IMF reach preliminary agreement for US billion loan

Another hike in interest rates marks one more step back in Montrealer Elyse Gamache-Belisle’s journey to home ownership. The single mother of two works as a project manager and has been collecting thousands of cans and cashing in her empties for a down payment on a property.
Source: ctv business
For one would-be property owner, the latest interest rate hike is a setback