Apple Pulls Back On Planned iPhone 14 Production Increase As Demand Fails To Materialize
Apple Inc (NASDAQ: AAPL) has reportedly told its suppliers not to proceed with efforts to increase production of the new iPhone models as the projected surge in demand failed to materialize, according to Bloomberg. The California-based tech giant had upgraded its sales projections by 7% a few weeks before the release of the iPhone 14, and […]
Cuba Starts Restoring Power After Hurricane Ian Collapsed Country’s Entire Electrical Grid
Cuba’s entire electric system completely collapsed on Tuesday, after Hurricane Ian devastated the island with flooding and strong winds. Over 11 million people were left without electricity late Tuesday, after Cuba’s fragile power grid failed to withstand the powerful winds and rain brought on by Hurricane Ian. The Soviet-era oil-fired generators were already succumbing to […]
Biogen Trades At 12-Month High Following Alzheimer’s Drug Success, US$900-Million Settlement On Kickback Lawsuit
Fresh off a US$900 million settlement agreement, Biogen, Inc (Nasdaq: BIIB) announced positive topline results from the phase 3 study of its investigational antibody lecanemab to treat mild cognitive impairment due to Alzheimer’s disease. The study, conducted in partnership with Tokyo-based pharmaceutical firm Eisai, involved 1,795 patients with early Alzheimer’s Disease. Based on a numeric […]
Iranian Protests Against Dictatorship: State Police Say 41 Dead But Human Rights Group Claims 76
The massive protests in Iran calling for the fall of the country’s dictator is on its 11th day. Along with the growing participation of demonstrators is the rising death toll brought by the crackdown of the state government as well as violent resistance from protestors. Iran is facing a wave of unrest that was sparked […]
Hot Takes & The Current Macroenvironment With Jim Lewis
Joining SmallCapSteve today is Jim Lewis, co-founder of r/WallStreetSilver. Today, Steve and Jim sit down to talk about Twitter bots and crypto scams, and the success of the Wall Street Silver Twitter feed. We then shift to current events and play a bit of whodunnit over the Nord Stream leaks, and discuss Jim’s take on […]
UK’s Mockery of Economics: Central Bank Simultaneously Embarks on QE, Rate Hikes After Kwarteng’s Fiscal Policy Blunder
It’s official: the Bank of England takes the cake for becoming the first bank to capitulate under the pressure of a severe oncoming economic downturn and the government’s raging incompetence on anything fiscal policy. The pound was sent into free-fall after UK chancellor Kwasi Kwarteng unveiled new fiscal policies of widespread tax cuts and unprecedented […]
United Lithium Sees 508 Claims Staked In South Dakota Validated By BLM
United Lithium (CSE: ULTH) this morning received positive news from the US Bureau of Land Management. The firm has seen its 508 unpatented claims staked in Custer, South Dakota confirmed as being valid, with the claims referred to as the Liberty Lithium Project. The claims were staked in a region known for historically mining lithium-cesium-tantalum […]
Canopy Growth To Sell Canadian Retail Ops
Canopy Growth (TSX: WEED) announced on Tuesday that it has entered into agreements to divest its retail business across Canada. While no cost consideration was disclosed, the divesture involves the firms stores operating under the Tweed and Tokyo Smoke retail banners. The cannabis firm is selling 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, […]
Hertz And BP Team Up To Build Network Of Charging Stations Across The US
Hertz (NASDAQ: HTZ) and BP (NYSE: BP) announced a deal to build a nationwide network of electric vehicle charging stations in the United States on Tuesday. Under the agreement, BP Pulse, the oil giant’s EV-charging arm, will build the chargers and manage the software infrastructure to service Hertz’s growing fleet of rental EVs. The deal […]
Wall Street Firms Charged By SEC With Record-Breaking US$1.1 Billion Penalty For Recordkeeping Failures
The US Securities and Exchange Commission announced on Tuesday that it is charging 15 broker-dealers and one affiliated investment adviser for failing to adhere to record-keeping standards. The firms agreed to pay combined penalties of more than US$1.1 billion–a record for the government. Each of the following eight Wall Street banks agreed to pay US$125 […]