Direct Loan Canada Blog

A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but rejected other provisions, saying in a ruling Friday that the organization has ‘decisions to make’ regarding the plan.
Source: ctv business
Ruling leaves questions about Boy Scouts bankruptcy plan

Transat AT Inc. has secured another emergency loan from Ottawa as the tour operator struggles to shore up its balance sheet.
Source: ctv business
Transat gets 0M bailout as debt load mounts despite travel rebound

Michele Romanow’s startup Clearco is laying off 25 per cent of its workforce and says it is considering ‘strategic options’ for its international operations.
Source: ctv business
‘We grew our headcount too quickly’: Michele Romanow’s Clearco lays off 25 per cent of staff

China’s leaders effectively acknowledged the struggling economy won’t hit its official 5.5 per cent growth target this year and said Thursday they will try to prop up sagging consumer demand but will stick to strict anti-COVID-19 tactics that disrupted manufacturing and trade.
Source: ctv business
China backs away from growth goal, sticks to virus controls

Tim Hortons has reached a proposed settlement in multiple class action lawsuits alleging the restaurant’s mobile app violated customer privacy, which would see the restaurant offer a free coffee and doughnut to affected users.
Source: ctv business
Tim Hortons offers coffee and doughnut as proposed settlement in class action lawsuit

A string of consumer companies, from spirits group Diageo to Birkin bag maker Hermes, have this week reported they’re making money from their most expensive products and expect to continue to do so, despite a cost of living crisis that shows no signs of abating.
Source: ctv business
How the other half lives: luxury companies thrive

Imperial Oil has recorded a meteoric rise in profit in its latest quarter amid soaring energy prices and higher production.
Source: ctv business
Imperial Oil second quarter profit soars amid higher production and energy prices

Imperial Oil CEO Brad Corson said Friday the federal government’s strategy to reduce emissions and reach net-zero amounts to overreach from Ottawa.
Source: ctv business
Imperial Oil CEO says feds’ approach to emissions getting ‘very aggressive’

Ukrainian President Volodymyr Zelenskyy visited a Black Sea port Friday as crews prepared terminals to export grain trapped by Russia’s five-month-old war, work that was inching forward a week after a deal was struck to allow critical food supplies to flow to millions of impoverished people facing hunger worldwide.
Source: ctv business
Zelenskyy visits port as Ukraine prepares to ship out grain

The Canadian economy stayed flat in May, with growth slowing down as businesses continue to face supply constraints and rising interest rates, though economists say the current cycle of interest rate increases is expected to continue into the fall.
Source: ctv business
Canadian economy avoids contraction in May, economists expect continued slowdown