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HSBC Digitizes SMB Lending In Canada With Biz2Credit Partnership

“HSBC Bank Canada is collaborating with alternative lending firm Biz2Credit to streamline and digitize small business lending in the country” reports pymnts.com. The small business lending market in the country began the year with a slow start, after research published last December from PayNet found a decline in borrowing among Canadian small business owners.Biz2Credit has previously collaborated with FinTechs, including Tradeshift last year, to expand small businesses’ access to financing.A press release issued Monday (Nov. 19) said HSBC Bank Canada is launching its eCredit solution, providing small business loan applicants…

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Business warns steel tariffs could hurt USMCA passage

“The countries have argued that since those talks are now complete, there is no need to maintain the tariffs, which are technically a separate matter from the trade deal” reports washingtonexaminer.com. The groups said they backed the USMCA deal itself, calling it “a chance for all sectors of the U.S. economy” to benefit.Business groups have been pressuring the administration to retire the exemptions as well, saying they’re doing more harm than good.The U.S. has so far balked at restoring the exemptions, fearing that that would allow China, the tariffs’ main…

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Trump’s landmark trade deal with Canada and Mexico is suddenly in trouble

“The biggest success of President Donald Trump’s prolonged trade battles has come in the form of a revised trade deal with Canada and Mexico” writes Bob Bryan for businessinsider.com. “This is language that is going to cause a lot of people to reconsider their support of the trade agreement, and to the point that it may endanger the passage of the trade agreement unless something is done,” GOP Rep.Read more: A top Republican senator just made it clear that Trump’s new trade deal with Mexico and Canada could still fall…

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Distributed Ledger Technology is an Option for Cross-border Payments According to Canada, UK and Singapore

“Three international financial institutions are looking into the benefits of using distributed ledger technology (DLT) to improve cross-border payment processes” writes Nikita Blows for livebitcoinnews.com. Do you believe that more banks will be using DLT for cross-border payments come 2019?. The aim of this model, of course, would be to improve “access, speed, and transparency of cross-border payments”.Their views are expressed in a promisingly titled report, ‘Cross-border interbank payments and settlements: Emerging opportunities for digital transformation’.Traditional cross-border payments can be expensive. Source: livebitcoinnews.com Share This:

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Tilray revenue doubled but losses widened ahead of legal pot sales in Canada

“Tilray Inc. nearly doubled revenue as losses mounted ahead of Canadian legalization of recreational cannabis, the pot producer revealed Tuesday in an earnings report” writes Tech Reporter for marketwatch.com. The company doubled the amount of weed it sold to 1,613 kilograms from 684 kilograms in the year-earlier period.Tilray is the third bellwether cannabis company to report earnings this week, after Aurora Cannabis Inc.Medical cannabis demand, as well as markets outside Canada and sales to other licensed producers within Canada, accounted for most of the revenue growth.Don’t miss: Pot companies to…

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News Oil 

Oil pucks and pellets; Canada eyes new ways to move stranded crude

“The railroad argues that solid crude, never before commercially shipped in the world, can be transported more cheaply, efficiently and with less environmental risk than liquid crude in tank cars” writes Midwest Communications Inc for 95kqds.com. Success of either product also hinges on convincing oil refineries to make changes needed to convert solid crude back to liquid for processing.But the idea of shipping crude in solid form is compelling, said Alex Pourbaix, chief executive of Cenovus Energy, a major Canadian shipper of crude by rail.Canadian heavy crude traded on Friday…

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Officials urge action to keep edible marijuana away from children

“Following a sharp increase in cannabis poisoning among young people, Canadian health professionals are calling for tighter controls to keep edible marijuana products away from minors” writes Leyland Cecco for theguardian.com. Because edibles cannot be legally purchased, there is no prescribed dosage of THC – the main psychoactive element of marijuana – in each unit. Source: theguardian.com Share This:

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‘Bachelorette’ Kaitlyn Bristowe Is Taking a Breakup Vacay Far Away from Shawn Booth

“It’s been a week, and Kaitlyn is taking the breakup in stride by heading 2,500 miles away from their Nashville home for a breakup vacation in Vancouver, Canada, her hometown” writes Shannon Barbour for cosmopolitan.com. That said, by the looks of her Instagram, Kaitlyn is recovering from the breakup and a crazy cyst-popping nightmare that she now needs surgery for. Source: cosmopolitan.com Share This:

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Canada at odds with U.S. changes to text of trade deal: source

“Although the source said Ottawa did not feel the problem would wreck the new U.S.-Mexico-Canada (USMCA) deal, the affair shows that tensions remain after a stressful 13-month negotiation” reports businessinsider.com. The United States and Canada reached a last-gasp deal on USMCA at the end of September, guaranteeing that free trade between the three nations would continue.Officials are now fine-tuning the wording on the deal intended to replace the North American Free Trade Agreement (NAFTA). Source: businessinsider.com Share This:

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