Direct Loan Canada Blog

Suncor Energy Inc. is getting out of the wind and solar business, even as a new UN report on climate change says wind and solar technologies are the two best avenues to reduce global greenhouse gas emissions and limit the planet’s warming to a critical 1.5C.
Source: ctv business
Suncor’s decision to get out of wind and solar criticized by Greenpeace

The European Union’s executive branch proposed Tuesday a ban on coal imports from Russia in what would be the first EU sanctions targeting the country’s lucrative energy industry over its war in Ukraine.
Source: ctv business
European Union proposes Russian coal ban in new sanctions

Statistics Canada says the country’s merchandise trade surplus narrowed in February as imports rose at a faster pace than exports and some border crossings between Canada and the U.S. were blocked by protests.
Source: ctv business
Canada posted smaller merchandise trade surplus in February, StatCan reports

Ontario said it would join Alberta in temporarily slashing gas and fuel taxes in an effort to curb runaway gas prices. While these tax reductions may provide some relief to motorists, experts say these measures don’t address the root of the problem, which exist outside of provincial jurisdiction.
Source: ctv business
Gas tax cuts may provide some relief, but high fuel prices are here to stay: experts

Stocks fell in afternoon trading on Wall Street and bond yields jumped Tuesday as investors monitor the latest developments around Russia’s war against Ukraine and prepare for the next round of corporate report cards.
Source: ctv business
Stocks fall on Wall Street as tech slips, bond yields jump

Shares in a company planning to buy Donald Trump’s new social media business plunged Monday on a news report that two key staff members left, deepening losses from last week when it said it would miss a deadline to file its annual financial statements.
Source: ctv business
Stock tied to Trump social firm drops on report of turmoil

Canada’s federal budget will include an investment of at least $2 billion for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain, two senior government sources said.
Source: ctv business
Canada to invest B on mineral strategy for EV battery supply chain

Unifor says more than 900 full-time workers at Metro Inc.’s Toronto-area distribution centre are on strike after voting to reject a tentative agreement with the grocer.
Source: ctv business
Workers at Metro distribution centre reject tentative deal, go on strike, union says

For more than a year, the global auto industry has struggled with a disastrous shortage of computer chips and other vital parts that has shrunk production. Now, a new factor — Russia’s war against Ukraine — has thrown up yet another obstacle.
Source: ctv business
Russia war could further escalate auto prices and shortages

The Bank of Canada says businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term.
Source: ctv business
Businesses brace for high inflation to stick around over next two years: BoC survey