Direct Loan Canada Blog

Canada is headed for a ‘severe’ and ‘almost inevitable’ recession in early 2023, according to the head of economics at Macquarie Group, which states Canada will face an approximately three per cent contraction in gross domestic product and a five per cent rise in its unemployment rate during the predicted recession.
Source: ctv business
Canada headed for ‘severe’ and ‘inevitable’ recession in 2023: economist

While many businesses encourage staff to don orange shirts — a tradition started by residential school survivor Phyllis Webstad in 2013 — or to sell wares in the bright hue on Sept. 30, those efforts quickly fade. Companies often don’t do much more to elevate Indigenous voices and causes, Indigenous leaders say.
Source: ctv business
Indigenous leaders want corporate reconciliation efforts to extend beyond Sept. 30

Newly disclosed text messages between Elon Musk and Twitter CEO Parag Agrawal showed that the two men briefly bonded in the spring over their love of engineering – at least until Musk publicly tweeted this message early on April 9: ‘Is Twitter dying?’
Source: ctv business
Musk and Twitter CEO Agrawal were briefly pals, texts show

European Union energy ministers on Friday adopted a package of measures to soothe the energy crisis, including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table.
Source: ctv business
EU ministers adopt windfall levy, no deal on gas price cap

Canada is facing a wave of retirements driven by workers in high-pressure sectors, with an increasing number retiring before they turn 65.
Source: ctv business
Wave of retirement hits Canadian workforce as healthcare, education lose workers

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.
Source: ctv business
Inflation hits record 10 per cent in 19 EU countries using euro

Gains in the technology sector helped lead the way higher as Canada’s main stock index rose more than 200 points in late-morning trading, while U.S. stock markets also gained ground.
Source: ctv business
S&P/TSX composite up more than 200 points, U.S. stock markets also rise

CIBC says it aims to cut the emissions intensity of its power generation portfolio by 32 per cent by 2030 in the latest climate target released by a Canadian bank.
Source: ctv business
CIBC aims to reduce emission intensity from power portfolio by 32 per cent by 2030

As the cost of living continues to rise and pay gaps persist, there is a growing desire for more open discussions around earnings, something experts argue could help ensure everyone is being compensated fairly.
Source: ctv business
Salary transparency is on the rise. Here’s how to navigate the topic

Statistics Canada says the number of job vacancies in the country moved lower to slip below one million in July, but remained well above where they were a year earlier.
Source: ctv business
Statistics Canada says job vacancies dropped below one million in July