Is The Real Estate Slowdown Over? Housing Supply Tightens Amid Decline in New Listings
It appears that the US housing market slowdown may have been temporary, as reduced demand for home-buying prompts would-be sellers from listing their property, thus limiting housing supply. What was beginning to look like a major slowdown in the housing market may soon be no more: according to new data from Redfin. The number of […]
Holy Crop! Record Drought Pushes Produce Shortages
The United States is currently experiencing one of the worst droughts in known history, forcing what could be a wave of crop shortages and higher prices on the shelves for produce and its derivative commodities due to lack of supply. According to the US government’s drought monitoring agency, around 41.23% of the country is in […]
TerraPower, Bill Gates’ Nuclear Innovation Company, Raises $750 Million
TerraPower, the nuclear innovation company founded by business magnate Bill Gates, announced on Monday that they have completed an equity raise, yielding at least $750 million. The fundraising was co-led by SK Group and Gates, who’s chairman of the board. SK is one of South Korea’s largest energy providers, the company invested $250 million. According […]
SEC Charges Three individuals With Insider Trading Related to 2017 Equifax Data Breach
The SEC has laid charges against three individuals for illegally trading Equifax (NYSE: EFX) shares prior to the company publicly revealing it suffered an extensive data breach. Back in September 2017, Equifax announced that hackers gained access to the personal information of over 143 million Americans sometime between May and July, making it one of […]
Robinhood Posts Weak July 2022 Operating Metrics, Yet Betting Against the Stock Seems Wrong
Robinhood Markets, Inc. (NASDAQ: HOOD) on Thursday reported several key operating statistics comparing the month of July to prior months. Given the far better tone of equity and cryptocurrency markets in July versus the second quarter, the data has to be considered disappointing. Monthly active users at the end of July fell to 13.2 million from 14.0 […]
FDIC Sends Cease-and-Desist Letter to Crypto Companies Over Misleading Claims About Deposit Protection
Several cryptocurrency platforms received cease and desist letters from the Federal Insurance Deposit Corporation over allegedly making misleading claims to investors about their funds being protected by federal insurance. The FDIC on Friday sent letters to five crypto companies, including Cryptonews.com, Cryptosec.info, SmartAsset.com, FDICCrypto.com and US-based exchange FTX US, accusing them of falsely telling customers […]
Trevali Mining Files For Creditor Protection After Missing Debt Payment
True to their word, Trevali Mining (TSX: TV) has failed to make a scheduled interest payment that was due August 17, as it broadcasted the day before in connection with its second quarter earnings release. As a result of the failure to make payment, in a move surprising no one, the firm has now officially […]
K92 Mining Sees Canaccord Lift Target To $12.50 After Strong Second Quarter
Earlier this week, K92 Mining Inc. (TSX: KNT) reported its second quarter financial results. The company announced that it produced 26,085 ounces of gold equivalent ounces, or 22,934 ounces of gold, 1,229,961 lbs of copper, and 25,224 ounces of silver. The quarter reportedly saw record plant and mine throughput of 108,853 tonnes and 114,471 tonnes, respectively, […]
Bank of Canada Likely to Keep Delivering Major Rate Hikes Despite Inflation Slowdown
Despite last month’s slowdown in headline inflation, many Bay Street economists still think the Bank of Canada will continue with its course of delivering another colossal rate hike come September. Canadians sighed a breath of relief when they saw last month’s CPI reading, which showed a slowdown in headline inflation from an annualized 8.1% in […]
Quebec-Based Pension Manager Writes Off $150 Million Celsius Network Investment
Quebec pension manager Caisse de depot et placement du Québec (CDPQ) has written off its investment in now-bankrupt cryptocurrency lending company Celsius network, conceding that it was too soon to venture into the sector. CDPQ CEO Charles Emond finally broke silence on his fund’s $150 million investment in the Celsius Network, which filed for Chapter […]