Saudi Arabia Mulls Building Gold Refineries to Cut Down on Foreign Processing Costs
Saudi Arabia is considering building its own gold refineries in an effort to reduce costs associated with sending the precious metal abroad for refining. In an interview with CNBC Arabia TV, head of Precious Metals & Gemstones National Committee at the Saudi Council of Chambers Karim Al Enezi said that the kingdom is looking into […]
European Central Bank Significantly Raises Inflation Forecast, Signals More Aggressive Rate Hikes
The European Central Bank has found itself in a very tough spot: with entrenched price pressures sitting at jaw-dropping levels and economic output slowing, Europe’s inflation problem— which was already unravelling long before Russia invaded Ukraine— has backed policy makers into the corner, as they must raise rates a lot more rapidly while risking slowing […]
Eye-Popping 2021 Pay Packages Awarded To CEOs Of Start-Up EV Makers Is Tough To Swallow
The stocks of many start-up electric vehicle (EV) companies are difficult to analyze, value and trade. Indeed, many EV OEMs exploded higher in the early fall of 2021 and have fallen just as hard since. It appears that their Board compensation committees are even tougher to understand — and indifferent to the goals and interests of their […]
North Carolina Senators Propose $200 Gasoline Rebate to Ease Inflation Woes
Defying the laws of economics, a group of lawmakers from North Carolina are proposing to fight energy inflation by… handing out more cash to consumers? Yes, you read that right: as reported by Wral.com, senators from North Carolina are looking to hand out one-time $200 payments to all adult drivers in the state to help […]
Former NATO Chief: Ukraine War Lays Ground for ‘New World Order’
The ongoing conflict in Ukraine is laying down the groundwork for a “new world order” that polarizes two superpowers led by the US and China. According to ex-NATO secretary-general and former Danish prime minister Anders Fogh Rasmussen, Russia’s war in Ukraine is accelerating a new paradigm where Western powers become even more polarized against the […]
BMO: Suncor To Produce $60 Billion In Free Cash Flow Over The Next Five Years
Last week, BMO Capital Markets’ hosted Suncor Energy (TSX: SU)‘s President and CEO Mark Little for in-person meetings in Toronto with investors. Subsequentially, they reiterated their outperform rating and raised their 12-month price target to C$60 from C$54. The stock is currently up almost 60% year to date to C$52.78 and has 20 analysts covering […]
What Did Do Kwon Do? CEO Allegedly Cashed Out US$80 Million Each Month Before Terra Crash
Terraform Labs employees have reportedly confirmed to the US Securities and Exchange Commission that its co-founder and CEO Do Kwon was sending off ₩100 billion won or about US$80 million to secret wallets every month as operating expenses. JTBC News reports that the SEC has received statements from Terraform employees that say “the funds flowed […]
Low Airflow: Travel Rosters Not Yet Ready For Demand
Air Canada (TSX:AC) has been unable to keep up with a resurgence of demand for air travel, and are blaming the government. The Globe and Mail reports Thursday that Canada’s largest airline cancelled 350 of its flights in and out of Toronto’s Pearson Airport (YYZ) in the first week of June – 10% of its […]
Tesla Reveals Plans for a 3-for-1 Stock Split
In its annual proxy statement filed with the SEC, Tesla (NASDAQ: TSLA) CEO Elon Musk unveiled plans for a 3-for-1 stock split, as well as the forthcoming departure of board member Larry Ellison. The 2022 proxy filing cited efforts to make Tesla shares more affordable for ordinary investors as the reasoning behind the stock split, […]
UN: Ukraine Conflict is Exacerbating Global Food Crisis as Food Inflation Soars
Millions of more people risk slipping into famine as the conflict in Ukraine severely impedes global supply chains and sends food prices soaring even higher. A recent UN report highlights the dire attention that needs to be directed towards the global food supply, as geopolitical events in eastern Europe unravel historically-high inflation that is causing […]