Direct Loan Canada Blog

Loblaw Companies Ltd.’s sales growth is softening as inflation continues to grip the economy and shape consumer shopping habits, the company’s president and chairman said Wednesday.
Source: ctv business
Non-food sales down at Loblaw as inflation-weary customers rein in spending

Canada’s main stock index increased in late-morning trading amid strength in the energy and industrial sectors while U.S. stock markets were also up.
Source: ctv business
S&P/TSX composite up in late-morning trading, U.S. stock markets also post gains

The Biden administration on Tuesday said it will sell an additional 20 million barrels of oil from the Strategic Petroleum Reserve as part of a previous plan to tap the facility to calm oil prices boosted by Russia’s invasion of Ukraine and as demand recovers from the pandemic.
Source: ctv business
U.S. to sell additional 20M barrels of oil from strategic reserve

Elon Musk asked a judge to schedule a five-day trial beginning Oct. 17, not Oct. 10 as requested by Twitter, to resolve his bid to walk away from his US$44 billion deal to acquire the social media platform, according to a court filing on Tuesday.
Source: ctv business
Elon Musk asks judge to start Twitter trial on Oct. 17

The U.S. economy is caught in an awkward, painful place. A confusing one, too. Here’s a look at the factors at play, and what it all means.
Source: ctv business
U.S. economy sending mixed signals: Here’s what it all means

The global economy is already in trouble, yet risks keep piling up.
Source: ctv business
‘Edge of a global recession’: IMF slashes world economic forecast again

McDonald’s has been raising menu prices and customers are eating it up. Sales at McDonald’s U.S. restaurants open at least 13 months jumped 3.7 per cent in the second quarter, the company said Tuesday.
Source: ctv business
McDonald’s customers shrug off higher menu prices as revenue jumps

Statistics Canada says sales in the food service and drinking places subsector increased three per cent to $7.4 billion in May, the highest monthly gain since the onset of the pandemic.
Source: ctv business
Food service and drinking places sales rose 3 per cent in May: StatCan

Business leaders and officials from eight developing nations meeting in Bangladesh on Tuesday said more cooperation was needed among them to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions.
Source: ctv business
Developing nations seek to overcome energy, currency crises

Lufthansa says it will have to cancel almost all flights at its main Frankfurt and Munich hubs on Wednesday because of a strike by its German ground staff, affecting tens of thousands of passengers in the latest travel turmoil to hit Europe.
Source: ctv business
German strike forces Lufthansa to cancel hundreds of flights