Stellantis Sounds Alarm Over Structural Inflationary Pressures
Major automaker Stellantis NV has joined the growing list of companies sounding the alarm over inflationary pressures that are becoming increasingly persistent, despite policy makers’ and economists’ insistence otherwise. Stellantis CEO Carlos Tavares is warning of rising raw material costs from all sectors, and anticipates that the ongoing semiconductor shortages will eclipse into next year. […]
SPAC Portage Fintech Acquisition Upsizes IPO To US$240 Million
Special purpose acquisition company Portage Fintech Acquisition Corporation (Nasdaq: PFTAU) announced Tuesday that it is upsizing its initial public offering to US$240.0 million. The company, backed by venture capital platform Portage Ventures, went public on Nasdaq Stock Market today. The offering consists of 24.0 million units priced at US$10.00 per unit. Each unit is composed […]
Great-West Lifeco Looks To Acquire Prudential’s Retirement Business For $4.45 Billion
Great-West Lifeco Inc. (TSX: GWO) announced today that its US subsidiary Empower Retirement signed a definitive agreement to acquire Prudential Financial’s full-service retirement business. The transaction value is reported to be at $4.45 billion. The acquisition price includes $2.6 billion of capital to support the business. The company relayed that the transaction will be partly […]
BMO Reiterates $72 Price Target On Kirkland Lake Gold
Last week, Kirkland Lake Gold Ltd. (TSX: KL) announced their second quarter production figures. Results reflected a record quarter for the company at 379,195 ounces, a 15% increase from the second quarter and 25% higher year over year. The company also reiterated that they are on track to meet 2021 production guidance of 1,300,00 – […]
Malaysian Police Destroy Over 1,000 Bitcoin Mining Rigs With Steamroller Over Electricity Theft
Bitcoin just can’t seem to catch a break. Authorities in Malaysia have confiscated over 1,000 bitcoin mining rigs and destroyed them with a steamroller, after a police accused the operators of stealing electricity. According to Malaysian newspaper The Star, a total of 1,069 mining rigs valued at $1.26 million were confiscated and intentionally destroyed by […]
Ford Collaborates With Argo AI To Deploy Self-Driving Vehicles On Lyft By End Of 2021
Ford Motor Company (NYSE: F) and its autonomous vehicle tech platform partner Argo AI announced today its collaboration to launch self-driving vehicles on the Lyft (Nasdaq: LYFT) network. This industry collaboration is aiming to launch autonomous vehicles by the end of 2021. As part of their network access agreement, Ford self-driving vehicles will be deployed […]
Empower Clinics Eyes Selling Sun Valley Cannabis Assets Back To Founders For US$1 Million
Empower Clinics Inc. (CSE: CBDT) announced today that it has signed a non-binding term sheet to divest all its cannabis assets under the Sun Valley name. The acquisition is reported to be for consideration of US$1.0 million. The agreement stipulates that the Sun Valley founders Andrea Klein and Dustin Klein will acquire 100% of Sun […]
Grande Portage Contracts Second Drill For Herbert Gold Drill Program
Grande Portage Resources (TSXV: GPG) this morning announced that it is stepping up its drill program. The company this morning revealed that it has added a second drill to its ongoing operations. Drilling is currently ongoing at Grande Portage’s flagship Herbert Gold project, located in southeastern Alaska. Currently, the firm is drilling the eastern extension […]
EU Proposes Tighter Regulations on Cryptocurrency Transfers
Cryptocurrency transactions made in the European Union may soon be subject to tighter regulatory oversight, as the bloc’s policy makers propose a sweeping new set of rules targeted at mitigating dirty money. According to Reuters, the European Commission has proposed to outlaw cryptocurrency transactions that are anonymous, in an effort to crackdown on terrorism financing […]
Excellon Resources Produces 487,009 Silver Equivalent Ounces In Q2 2021
Excellon Resources Inc. (TSX: EXN) provided this morning the production results for Q2 2021 at its Platosa Mine in Durango, Mexico. The results highlighted producing 487,009 silver equivalent ounces for the quarter, down from Q1 2021’s production of 516,715 silver equivalent ounces. The quarterly production results breakdown consists of 296,013 silver ounces, 1.9 million lead […]