US Retail Sales Growth Slumps in February as Surging Inflation Stifles Spending
Americans are beginning to curb their spending as out-of-control inflation increasingly erodes away at their purchasing power. Fresh data released by the Commerce Department on Wednesday showed that retail sales only grew 0.3% in February, down from a revised gain of 4.9% in the month prior. The majority of the increase was due to a […]
Chinese Firms Rally After Beijing Promises Market Support
Major Chinese names rallied today after the Chinese government vowed to “actively release policies favourable to markets.” This follows after heightened government regulatory crackdown on tech firms and fears of delisting from US exchanges drove down the stocks of the Chinese companies. In a meeting of Beijing’s Financial Stability and Development Committee, Vice Premier Liu […]
Can The Nickel Squeeze Happen To Gold? – The Daily Dive
Returning to the Daily Dive for a second time today is Collin Kettell, the founder and executive chairman of New Found Gold Corp (TSXV: NFG). Collin returns to the Dive this afternoon to discuss the recent stake taken in Hycroft Mining by AMC Entertainment, the impact of the nickel squeeze, and his concerns related to […]
Russia Retaliates: Joe Biden, Justin Trudeau Officially Banned From Entering Russia
Moscow has turned up its tit-for-tat measures against the US and Canada, this time by sanctioning numerous White House officials and top Canadian leadership members in response to crippling restrictions imposed by western nations critical of Russian President Vladimir Putin’s military operation in Ukraine. Russia decided to retaliate against Western sanctions, this time by banning […]
Mind Cure Gives Up On Psychedelics, Fires C-Suite, And Reverts To Shell After Strategic Review
In a sign of what’s to come for most psychedelic-related names, Mind Cure Health (CSE: MCUR) this morning effectively announced it will be turning itself into a shell. The move follows a strategic review conducted by the company. The strategic review is said to be done just its initial phases of the process, which included […]
Canadian Inflation Blows Past 5%… Again
The month of February brings us to yet another set of record-breaking runaway prices, and the second consecutive month that headline inflation surpasses 5%. The pocketbooks of Canadians continued to be eroded away in February, with the transitory aspect of inflation long gone and replaced with persistent, broad-based price pressures gripping every aspect of the […]
Starbucks Shares Jump As CEO Kevin Johnson Retires, Howard Schultz Returns For The Interim
Starbucks (Nasdaq: SBUX) announced the retirement of its CEO Kevin Johnson, to be replaced by former chief executive Howard Schultz as the company begins its process of finding a permanent replacement. Following the announcement, the coffee chain’s shares rose by 5% pre-market. “A year ago, I signaled to the Board that as the global pandemic […]
Energy Fuels Records Net Income In 2021 Thanks To Uranium Asset Sale
Energy Fuels Inc. (TSX: EFR) released on Tuesday its 2021 financial results, which saw the company post US$3.2 million in revenue. This is an increase from 2020’s revenue of US$1.7 million. The increase is mainly attributable to the revenue contribution by rare earth concentrates which the company commenced in 2021. RRE contributed US$1.4 million while […]
London Metal Exchange Halts Nickel Trading Again, Points To “IT System Error”
The London Metal Exchange saw itself caught in a bind again after it halted nickel trading the same day it reopened the market for the resource today. The exchange initially suspended the nickel market on March 8 after the price skyrocketed beyond US$100,000/tonne in just a few hours, after Chinese nickel producer Tsingshan Holdings Group […]
QYOU Media Identifies Pepsi As Being Amongst Founding Sponsors For New Channel
Success is being seen in the early stages of QYOU Media’s (TSXV: QYOU) newest channel launch. The firm this morning has indicated that it has signed four founding sponsors for The Q Marathi, the firms new channel focused on the Marathi language within India. With distribution to over 84 million Marathi-speaking Indians, the company is […]