US Retail Sales Drop to Record Levels Amid Nationwide Lockdowns
Not only did US industrial production suffer a detrimental blow amid nationwide shutdowns, but retail sales also endured historical declines in March. According to data released by the Commerce Department, retail sales in the US decreased by 8.7% in March, which was the biggest drop since 1992. Bars and restaurants saw sales fall by 26.5%, […]
US Production and Manufacturing Drop to Record Levels Not Seen Since 1946
The Federal Reserve released new figures regarding industrial production in the US, and the numbers are grim: the US economy has not suffered such a production decline since the Second World War. As a result of the global pandemic, US manufacturing output, which is the secondary state in an economy, fell by an overall 6.3% […]
Where’s The Beef? Meat Processors Hammered By Coronavirus
It appears that the forewarning offered previously by the United Nations in regards to food security is coming true. As of late, several of North America’s largest meat processors have been forced to either reduce or halt operations altogether as a result of the ongoing coronavirus pandemic. Meat processors across Canada and the US are […]
Visualizing the Aurora Cannabis Rollback
It’s times like this that The Dive‘s West Coast office is thankful or the under-rated reporting of our very own Deep Dive Jay. Our Founder and Editor in Chief had a summary of the Aurora Cannabis (TSX: ACB) (NYSE: ACB) rollback news up Monday minutes after the official release. It was everything we needed, nothing […]
Bank Of Canada To Purchase Provincial, Corporate Bonds
The Bank of Canada maintained its overnight target rate of 0.25% this morning in its market update, refusing to go near negative interest rates for the time being and meeting many analyst expectations. However, surprising many, Canada’s central bank announced that they would be conducting quantitative easing by purchasing both corporate and provincial bonds. With […]
Molson Coors, Hexo Enter Joint Venture For US CBD Beverages
It appears that Molson Coors (TSX: TPX) (NYSE: TAP) is still interested in working with Hexo Corp (TSX: HEXO) (NYSE: HEXO) despite the current failure of the duo to get CBD and THC beverage products to market in Canada. Molson and Hexo announced this morning that they will be entering into a second joint venture […]
US Oil Storage Expected to Reach Full Capacity in Coming Months
Even with the recent OPEC+ deal to scale back oil production, the US is still facing a substantial over supply: forecasts predict that the US’s oil storage reserves soon reach full capacity within the next two months. OPEC+ members have recently come to an agreement regarding oil production cuts of up to 9.7 million barrels […]
US Shale Oil Production Reduced by Record Drop Amid Global Oversupply
The Energy Information Association (EIA) recently issued a crude oil production forecast, citing a forthcoming oversupply of oil amid a substantial decrease in demand for fossil fuels. Subsequently, the EIA is projecting that shale oil production in the US will be reduced by 8.526 million barrels per day within the next month. This is predominantly […]
Aphria Sees Revenues Increase 20% Quarter Over Quarter To $144.4 Million
Aphria Inc (TSX: APHA) (NYSE: APHA) reported its fiscal third quarter 2020 results last night after the bell, revealing significant quarterly net revenues of $144.4 million and a net income of $5.6 million. Revenues as a whole grew 20% quarter over quarter, and were largely comprised of distribution revenues, which accounted for $88.3 million in […]
IATA Updates Projected Revenue Loss to $314 Billion for Global Airlines
The International Air Transport Association (IATA) has issued a statement, addressing the current aircraft grounding worldwide and the resulting financial losses. Due to maximized efforts to stop the spread of the coronavirus, aircraft around the world have been grounded, with only a small number of flights still going to limited destinations. As a result, heavy […]