Audi to Cease Producing Combustion Engines by 2026
Audi has become the latest automaker to pledge a zero-emission future, announcing that it will stop manufacturing gas and diesel engines by 2026. According to a statement by Audi board chairman Markus Duesmann to the carmaker’s executives and labour representatives and later viewed by the The Drive, Audi has has revealed that it will phase […]
Investment Firm’s Bitcoin Regression Model Projects Huge Future Price Gains
Hedgeye Risk Management, an investment research firm based in the U.S. state of Connecticut, published a regression analysis model which forecasts an exponential increase in the price of Bitcoin over the next ten years, namely US$10 million per Bitcoin at some point next decade. While such a moonshot feels quite unlikely — some might say […]
Binance Receives Ban From Operating In The UK, Days After Ontario Ban
It appears the world is coming crashing down for Binance. Just two days after announcing that it will no longer be able to service those residing in Ontario, Canada, the company has been given the boot by the entirety of the United Kingdom, with the company banned from undertaking any regulated activity within the nations […]
Kyle Bass: Inflation is Everywhere!
With US markets seemingly shrugging off the latest PCE print and the Fed’s repeated phlegmatic stance on price pressures, US hedge fund manager Kyle Bass appears to have a significantly different interpretation of the current economic landscape. In a recent CNBC “Closing Bell” interview, Bass, the founder of Hayman Capital Management, reiterated his claim that […]
Embark Trucks, Developer of Autonomous Truck Driving Software, Reaches SPAC Merger Deal
On June 24, Embark Trucks, Inc., a company that develops autonomous vehicle (AV) driving software for the U.S. trucking industry, announced it is merging with special purpose acquisition company (SPAC) sponsor, Northern Genesis Acquisition Corp. II (NYSE: NGAB). Upon merger close, which is expected to be in 3Q 2021, Embark Trucks will be a publicly listed […]
Metalla: BMO Raises Price Target After Royalty Acquisition
This past week, Metalla Royalty & Streaming (TSXV: MTA) announced that they have acquired a 1.35% net smelter return royalty on the Côté Gold Project and all of the Gosselin project. These two projects are owned by IAMGOLD and Sumitomo Metals Mining. This comes at a total purchase price of $7.5 million in cash, which […]
New York To Replace 100 Parking Spots With Curbside Electric Vehicle Charging Stations
In a move to complement growing electric vehicle sales, New York City announced Thursday that it will remove 100 parking spots to replace with the city’s first-ever curbside electric vehicle charging ports. The city officials said the installation of the charging stations have started, and are expected to be completed by October. The city’s Department […]
BlackBerry: Canaccord Downgrades To Sell After 50% Run
On June 24th, BlackBerry (TSX: BB) reported its first quarter financial results. The company reported revenues of C$234 million, up from C$210 million last quarter. The company generated C$54 million in operating profits with earnings per share of ($0.05). The stock is closed the day down 4.5% yesterday following the financial results. Multiple analysts downgraded […]
Binance To No Longer Service Ontarians Following OSC Crackdown On Crypto Exchanges
It appears that the writing might finally be on the wall for the use of crypto as a “currency”. Yesterday, Binance quietly announced that as part of “compliance efforts” that they would be exiting from the province of Ontario, Canada. The changes were posted under a “Terms of Use Review” published by the firm on […]
Fitch Ratings: Bitcoin Legal Tender Status Poses Regulatory, AML Risks For El Salvador’s Financial Institutions
El Salvador has recently passed a new law that will give bitcoin legal tender status, making it the first country in the world to do so. The law is expected to take effect come September 7, with El Salvador’s president, Nayib Bukele, hailing the move as a significant milestone for the country, whose GDP heavily […]