Sundial Growers Shareholders Approve Share Consolidation
Sundial Growers (NASDAQ: SNDL) announced the results of its annual shareholder meeting this morning, reporting that all the proposed directors have been accepted for appointment. More interesting however, is that the shareholders approved a proposed share consolidation for the company. The share consolidation itself does not have a set ratio, with the text describing a […]
Internet of Things Inc Launches Alert Fleet Weather Based System
Internet of Things Inc (TSXV: ITT) this morning announced the launch of a new product, referred to as Alert Fleet, which utilizes artificial intelligence technology to alert drivers to “down road” weather conditions and mitigate risk in real time. The technology is built upon the same platform that is integral to the firms ThermalPass fever […]
US Home Construction Suffers Significant Decline in April
Not only are there significantly fewer houses being sold in the US during the financial ruin of the coronavirus pandemic, but new homebuilding has also come to a near stand still. According to the latest data released by the Commerce Department, new housing starts have dropped by 30.2%, which translates to only 891,000 units for […]
Canada Mortgage and Housing Corp: House Prices To Decline 9 – 18%
The Canadian Mortgage and Housing Corporation (CMHC) has recently issued an update regarding its ongoing efforts in the Canadian housing market as well as Canada’s overall financial system. Prior to the onset of the economic crisis stemming from the coronavirus pandemic, the CMHC has decided to bring back the Insured Mortgage Purchase Program as a […]
California Governor Calls on Congress to Issue Additional $1 Trillion for Local Governments
As if the Democrat’s $3 trillion coronavirus relief bill isn’t enough to make the Republican senate fall over, California Governor Gavin Newsom’s $1 trillion request will surely do it. On Friday, California Governor Gavin Newsom, along with his specially appointed task force consisting of some of Hollywood’s top execs including Netflix Chief Content Officer Ted […]
European Car Sales Drop by 76% in April Amid Coronavirus Lockdown
It appears that vehicle sales are not only struggling in the US amid the coronavirus pandemic, but in Europe as well. Back in March, new vehicle sales decreased by 55% in the EU: but April’s data is proving to be much worse. Many car dealerships were forced to close their doors to customers in mid-March, […]
Aurora Cannabis Acquires US Based CBD Company Reliva
In its latest “cost-cutting” move, Aurora Cannabis (TSX: ACB) (NYSE: ACB) announced after today’s closing bell that it will be acquiring US based hemp operator Reliva, LLC. The transaction is to take the form of an all-share payout, with Aurora paying US$40 million for the firm. Details on the transaction were slim, aside from knowing […]
Number of US Mortgages Entering Forbearance Programs Beginning to Show Signs of Decrease
It looks as if the housing industry is slowly beginning to rebound from the financial ruin caused by the coronavirus pandemic. According to data compiled by the Mortgage Banker’s Association, there has been a decrease of the number of Americans making forbearance requests. As of late, there are 4.1 million homeowners in some sort of […]
Uber Announces it will be Further Reducing its Workforce by 3,000 Employees
It appears that the coronavirus pandemic has been hitting the travel industry exceptionally hard. Earlier in May, Uber (NYSE: UBER) laid off a total of 3,700 employees, which accounted for approximately 14% of the company’s workforce. But Uber continues to struggle with lack of demand for ride-hailing services, and as a result is issuing further […]
US Fed Is Running Into Significant Hurdles With Main Street Lending Program
The Federal Reserve had previously announced it will be providing loans for middle-sized businesses via its Main Street Lending Program, however, it is shaping up to be a much more difficult task than initially anticipated. The goal of the $600 billion Main Street Lending Program is to provide relief loans for those businesses and companies […]