Direct Loan Canada Blog

Top executives from six cryptocurrency firms told Congress on Wednesday to tread lightly in imposing new rules on digital assets – or risk sending activity underground or outside the United States.
Source: ctv business
U.S. risks ‘chilling’ regulations on crypto, industry warns Congress

Toymaker Lego said on Wednesday it plans to build a new factory in Vietnam to keep up with rapidly growing demand for its coloured plastic bricks among children across Asia.
Source: ctv business
Lego building new brick factory in Vietnam as Asian market clicks

China Evergrande did not make payments on some U.S. dollar bonds at the end of a month-long grace period, sources familiar with the situation told Reuters on Tuesday, setting the stage for a massive default by the world’s most indebted property developer.
Source: ctv business
China’s Evergrande edges closer to default after missing debt deadline

Canada’s central bank has sent a warning that increases in the cost of living would continue into next year, but signalled it wasn’t yet prepared to pull its key lever to rein in inflation.
Source: ctv business
Bank of Canada keeps key interest rate on hold

Stocks turned choppy on Wall Street Wednesday following a two-day rally.
Source: ctv business
Stocks turn choppy on Wall Street after a two-day rally

Forty-eight dairy farms in Sumas Prairie, B.C. remain under evacuation order because of historic floods that have washed away most of their feed. However, dairy farmers in Ontario are stepping up to help by donating milk replacer.
Source: ctv business
‘It’s farmers helping farmers’: B.C. farmers get aid from Ontario counterparts

The share of household wealth owned by billionaires has risen by a record amount during the pandemic, with millionaires also coming out of COVID-19 ahead, a study found on Tuesday.
Source: ctv business
Pandemic boosts super-rich share of global wealth

Amazon.com Inc’s services including Amazon Web Services (AWS), Prime Video and its namesake e-commerce website were down for thousands of users on Tuesday, according to outage tracking website Downdetector.com.
Source: ctv business
Amazon services down for thousands of users

CIBC has agreed to pay $125 million to settle a class-action lawsuit that had accused the bank of misrepresenting its exposure to U.S. residential mortgage-backed securities ahead of the financial crisis.
Source: ctv business
CIBC to pay 5 million to settle class-action lawsuit in wake of financial crisis

Canada’s merchandise trade surplus increased to $2.1 billion in October as exports of motor vehicles and parts and energy products rose higher, Statistics Canada said Tuesday.
Source: ctv business
Statistics Canada says the merchandise trade surplus in October grew to .1B