Global Economy Loses $126 Billion as a Result of Coronavirus Pandemic
The coronavirus pandemic has brought on devastating consequences all over the world, as well as amplified pre-existing deficiencies. A recent survey conducted by the International Trade Center (ITC) reported that international trade fell throughout all quarters of 2019, only for the coronavirus pandemic to intensify the declines in 2020. According to the ITC report, exports […]
DraftKings Insiders Sell $596 Million Worth of Stock to Robinhood DayTraders
It appears that Robinhood daytraders have once again gotten the fuzzy end of the lollipop, except this time the embarrassment is centred around DraftKings (NASDAQ: DKNG), a fantasy sports betting provider. When DraftKings first went public on the Nasdaq in April, over 100,000 Ronbinhood retail investors flooded in to buy the company’s stock. the surge […]
Bank of Canada Governor Suggests Economy Has a Long Way To Go Before Reaching Pre-Pandemic Levels
The coronavirus pandemic has left the Canadian economy battered and damaged, and in such a state that has not been witnessed in our lifetimes. Although the peak of the pandemic is showing signs of subsiding as governments have approved the gradual lifting of restrictions, the downturn is far from over. According to Bank of Canada’s […]
Green Growth Brands Sees Florida Assets Secured By Creditors
Green Growth Brands (CSE: GGB) announced last night after the bell that it has essentially lost its Florida assets, which comprise of Seven Oaks Greenhouses. The loss of the asset is the result of the company failing to uphold its portion of a forbearance agreement between into place with certain creditors, referred to as Green […]
International Monetary Fund Issues Warning of Possible Repricing of Risk Assets
If the coronavirus infection rates do not subside soon, resulting in a reinstatement of economic lockdowns or even increased trade tensions, stock and risky asset markets could falter once again, warns the International Monetary Fund (IMF). When the severity of the coronavirus pandemic first became evident, it caused many countries to impose some forms of […]
Federal Government’s CERB Payments Have Led Increased Consumer Spending
It appears that the Canadian federal government’s stimulus spending has persevered the economy through the worst of the pandemic after all. According to recent data released by the Royal Bank of Canada (RBC), consumer spending has shown a significant rebound since April, when it was down approximately 30%. Within the first half of June however, […]
Initial Jobless Claims in the US Continue to Surpass Economists’ Forecasts
Although the US economy was beginning to show signs of a rebound, the positive sentiment is only short-lived. According to recent data released by the Labour Department, a total of 1.48 million initial jobless claims were made last week, while continuing claims reached 19.5 million. However, economists that were surveyed by Bloomberg had only predicted […]
Federal Reserve Set to Release Results of US Bank Pandemic Stress Tests
Thursday will be a big day for many US top banks, as the Federal Reserve plans to release the results of its financial stress tests. The stress tests will be comprised of a variety of data as well as commentary regarding various top US banks, and as such, could result in far-reaching implications for shareholders […]
Wirecard Files for Insolvency Following Accusations of Accounting Fraud
German-based payments provider Wirecard, which just a week ago was valued as one of the top 30 companies listed on the prestigious DAX stock index, has filed for insolvency. The move towards insolvency comes after an independent auditing firm discovered there was €1.9 billion missing from Wirecard’a cash. As a result, the company’s chief operating […]
Eve & Co Approves Share Consolidation, No Firm Date Set
Eve & Co Incorporated (TSXV: EVE) filed the results of its annual and special meeting of shareholders this morning. Key among the results was the approval of a special resolution by shareholders for the consolidation of the company’s shares. Commenting on the matter, Eve & Co indicated that it now has the ability, but not […]