Direct Loan Canada Blog

Epic port congestion is easing. Shipping prices are falling from sky-high levels. Deliveries are speeding up a bit. There are growing signs that the supply chain mess is finally starting to get cleaned up.
Source: ctv business
Glimmers of hope emerge in the supply chain nightmare

Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group on Thursday, saying they had defaulted on offshore bonds, while a source said Kaisa had started work on restructuring its US$12 billion offshore debt.
Source: ctv business
Evergrande, Kaisa cut by Fitch to default after missed payment deadlines

Italy’s anti-trust authority on Thursday fined Amazon 1.13 billion euros (US$1.3 billion), accusing the company of exploiting its dominant position against independent sellers on its website in violation of European Union competition rules.
Source: ctv business
Italy fines Amazon US.3B, alleging harm to outside sellers

Gig workers in Ontario could one day have access to a portable benefits program, giving them continuous health and dental coverage even as they jump from job to job with platform-based employers.
Source: ctv business
Ontario considers new rule for thousands of workers that would provide them with benefits

Stocks edged lower in morning trading on Wall Street Thursday as investors tapped the brakes after three days of gains.
Source: ctv business
Stocks edge lower on Wall Street as rally momentum cools

The vast majority of Canadians between the ages of 18 and 28 worry they will not be able to afford a home in their city of choice thanks to soaring real-estate prices, with half already giving up on their dream of owning a single-family home, according to a new survey.
Source: ctv business
Half of Canadians under 30 have given up on owning a single-family home: survey

Canada’s telecommunications regulator says Gap Inc. has agreed to pay $200,000 for allegedly violating Canada’s anti-spam legislation.
Source: ctv business
Gap agrees to 0,000 fine for allegedly violating Canada’s anti-spam law: CRTC

The founder and CEO of Better.com has apologized for firing 900 employees over Zoom just before the holidays.
Source: ctv business
Better.com CEO apologizes for firing employees over Zoom, 3 execs resign

The United Arab Emirates and its international finance hub Dubai are switching to a four-and-a-half-day work week ending at midday Friday to make it easier to do business globally.
Source: ctv business
Dubai is switching its work week to align with global markets

A company once owned by ‘Pharma Bro’ Martin Shkreli will pay up to US$40 million to settle allegations that it jacked up the price of a life-saving medication by roughly 4,000 per cent after obtaining exclusive rights to the drug, the Federal Trade Commission announced Tuesday.
Source: ctv business
‘Pharma Bro’ firm reaches USM settlement in gouging case