Jeff Bezos’ Wealth Surges to New Record After Pentagon Cancels JEDI Contract With Microsoft
Jeff Bezos has now anchored his position as the world’s wealthiest person in modern history, after the Pentagon cancelled a cloud-computing contract with Microsoft, sending rival Amazon shares soaring. Shares of Amazon rose nearly 5% following the Pentagon’s announcement, causing Bezos’ wealth to skyrocket by 48.4 billion on Tuesday. Although Bezos had officially abdicated his […]
Haywood Slashes Pieridae Energy Price Target After LNG Project Goes Bust, CFO Leaves
On July 2, Pieridae Energy (TSX: PEA) announced that they would be effectively suspending their LNG project. This comes after the company could not meet all of the key conditions necessary to make the final investment. The stock dropped more than 24% following the news. Then, on July 5th, the company announced that their CFO, […]
Elizabeth Warren Calls on SEC to Determine its Role in Crypto Regulation by July 28
With volatility across crypto markets continuously surging, lawmakers from Washington and other regulatory bodies continue to call for the establishment of new laws that would regulate virtual currency trading. The latest call comes from Democrat senator Elizabeth Warren, who has recently penned a letter to SEC Chairman Gary Gensler, demanding that the SEC determines its […]
Value of Building Permits Plummet by Record 14.8% in May
Following what were four straight months of record-breaking gains, the value of building permits suddenly plummeted 14.8% in May, as every component reported some form of decline. According to Statistics Canada, the value of building permits fell by a record $1.6 billion to a total $9.5 billion in May, as a decline in multi-family dwellings […]
The Skeptical Investor’s Guide to Reading a Corporate Press Release
“I just read it, right? Why do I need a guide?” – You, likely, after seeing the title of this article. One of the caveats to being a publicly traded company is the legal obligation to disclose material information about your company in a timely manner. Whether that news is good or bad, such as […]
Stellantis Invests Over $35 Billion Towards EV Lineup
Stellantis, the consolidated automaker behind brands Fiat Chrysler and French-based PSA Groupe, has decided to allocate tens of billions of dollars towards the electrification of its vehicles and other supporting technologies through to 2025. On Thursday, the world’s fourth largest carmaker announced plans to invest a minimum of $35.5 billion towards new electric vehicles for […]
US Senators Urge SEC to Open Probe into Didi IPO
Two US senators have urged the Securities and Exchange Commission to open an investigation into Chinese ride-sharing company Didi Chuxing (NYSE: DIDI), to determine whether it deceived US investors prior to its IPO debut. The two senior Congress members, Republican senator Bill Hagerty and Democratic senator Chris Van Hollen, have called on the SEC to […]
The US Economy is FLOODED With Excess Cash: What Does This Mean For The Reverse Repo Market?
America’s debt ceiling is slated to return come the end of July, spelling potential ramifications for the Treasury, as well as the entire financial system which is bursting with excess liquidity. With the debt ceiling coming into effect within a matter of weeks, the US Treasury faces a difficult task: it must lower its cash […]
New Brunswick Offers Rebates To Achieve 20,000 Electric Cars By 2030
After falling short of its 2020 target to put 2,500 electric cars on the road, New Brunswick is amping up its electrification plan with a rebate program for its citizens. The three-year program, called Plug-In NB, aims to entice New Brunswickers to switch to electric cars for up to $10,000 in rebates. The province announced […]
SPAC Acropolis Infrastructure Aims To Conduct A US$300 Million IPO
Blank check company Acropolis Infrastructure Acquisition Corp. is looking to raise US$300 million for its initial public offering. The company goes public today on the New York Stock Exchange. The offering consists of 30.0 million company units selling at US$10.00 per unit. Each unit consists of one Class A share and one-third of a purchase […]