California based Silicon Valley Bank collapsed on Friday, March 10, 2023, thanks to risen interest rates. Silicon Valley Bank was founded by former Bank of America managers Bill Biggerstaff, Robert Medearis, and Roger Smith, who came up with the idea over a game of poker. It launched on October 17, 1983, as a wholly-owned subsidiary of Silicon Valley Bancshares (now SVB Financial Group) with 100 …

A sudden jump in Tesla stock’s price made Elon Must enjoy the top cadre. His net worth touched 187 billion dollars. Though Tesla stocks are still lower than what they were a year ago but slowly it traveled upward and made the stockholders happier. In the meantime, adapting Milton Friedman’s Stockholders theory, Elon fired another 200 Twitter employees to cut …

First time in a century old history, Bank of Canada have faced losses of about half a billion Dollars. The institution used to give about a billion dollars per year to the government but 2022 had been the worst for them. However, government has signaled that they would do some amendments in the Act that would cover the losses the …

Bank of Canada has reconfirmed that there would be 3 more meetings this year to set the interest rates. The meetings would take place on September 07, October 26 and December 07. There would be no meeting in November. Bank of Canada has signaled that there would be more rate hikes till the inflation rate becomes around 3.5%.

Bank of Canada Governor reaffirmed that there is a 6% inflation in this quarter and that he is taking precautionary actions to slow it down. He also said that the inflation hits everyone specially those who has low income. Every house hold however is paying more that they had been paying before the pandemic hit. The hike in the interest …

After spending C$ 95,000,000,000 Canada Wage Subsidy (CEWS) and Canada Rent Subsidy (CERS) comes to end. Deputy Prime Minister and Finance Minister Chrystia Freeland says. Government will still help some businesses and workers hit by COVID-19 and this program would cost C$7,000,000,000. “Today, our support needs to be more narrow, more targeted and less expensive and we need to look …

Budget 2021: 20 ways it could affect your wallet 1. Extension of Canada Recovery Benefit and Canada Recovery Caregiving Benefit Earlier this year, the government announced that both the Canada Recovery Benefit (CRB) and Canada Recovery Caregiving Benefit (CRCB) would be extended by 12 weeks to a maximum of 38 weeks. Budget 2021 proposes adding up to 12 more to …

Newest US President Joe Biden, through a Presidential order, revoked a critical presidential permit for the 300 miles long, Keystone XL oil pipeline, a big blow to Western Canadian economy. Earlier Democrats did stop construction of the pipeline, which would have carried crude oil from Alberta, Canada to the Gulf Coast of the US, in 2015. Environmentalists strongly objected to …

The Government of Canada is taking immediate, significant, and decisive action to support Canadians and businesses facing hardship because of the COVID-19 outbreak. The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI). …

A string of US companies has been cautioning investors that first quarter sales could take a hit from the spread of coronavirus. Apple (AAPL) just made it all more real. The $1.4 trillion company put out a surprise investor update on Monday, warning that it no longer expects to meet the revenue guidance provided last month. Notably, the company isn’t …