Direct Loan Canada Blog

Tesla chief executive Elon Musk said he had a “super bad feeling” about the economy and that the electric carmaker needed to cut staff by around 10 per cent, according to an internal email seen by Reuters.
Source: ctv business
Musk says Tesla needs to cut staff by 10 per cent, pauses all hiring

U.S. stocks are falling Friday as Wall Street focuses on the downside of the still-strong U.S. jobs market.
Source: ctv business
Stocks sink as Wall Street eyes downside of solid jobs data

Canadians looking to get away in the coming months may have a hard time getting around, as for the second summer in a row, rental car operators are facing a severe shortage of stock.
Source: ctv business
High prices, lack of inventory as rental car operators face vehicle shortage

One day after raising the key interest rate by 50 basis points to 1.5 per cent, the Bank of Canada is warning Canadians that rates could rise above previously targeted levels in order to deal with what the bank calls ‘entrenched inflation.’
Source: ctv business
Deputy Bank of Canada governor warns key interest rate could rise above previous target of 3 per cent

The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices and the resulting inflation.
Source: ctv business
OPEC+ alliance boosts oil production as energy prices soar

China’s government on Thursday accused Washington of jeopardizing peace after U.S. envoys began trade talks with Taiwan aimed at deepening relations with the self-ruled island democracy claimed by Beijing.
Source: ctv business
China demands U.S. stop trade talks with Taiwan

The Canadian dollar will gain ground over the coming year as high commodity prices bolster Canada’s economic outlook and the Bank of Canada likely continues to raise interest rates aggressively, a Reuters poll showed..
Source: ctv business
Canadian dollar to strengthen as BoC moves ‘aggressively’ on rate hikes: poll

Canada’s main stock index was up in late-morning trading on broad rally led by materials and technology.
Source: ctv business
S&P/TSX composite up over 200 points in late-morning trading

Elon Musk is demanding that Tesla office workers return to in-person work or leave the company, according to leaked emails he sent to Tesla’s executive staff Tuesday.
Source: ctv business
Elon Musk tells Tesla employees: Return to the office, or else

The administration of U.S. President Joe Biden on Wednesday revoked a series of restrictions on flights to Cuba imposed by his predecessor, including ending a prohibition on U.S. airline flights to Cuban airports other than Havana.
Source: ctv business
U.S. lifts Cuba flight restrictions imposed under Trump