New Home Orders Plummet 65% As Rising Rates Scare Buyers
A major homebuilding company in Canada is seeing orders drastically decline, in yet another sign that buyers are reluctant to enter the real estate market over fears of rapidly rising mortgage rates. Homebuilder Mattamy Group Corp reported that net orders fell a staggering 65% year-over-year to 605 homes in the fiscal first quarter ending on […]
Germany Looks To Be Second EU Country To Legalize Cannabis For Recreational Use
Germany announced plans to legalize cannabis on Wednesday, fulfilling Chancellor Olaf Scholz’s commitment to make the country one of the first in Europe to do so. Karl Lauterbach, Minister of Health, presented a foundational paper on proposed legislation to regulate the restricted distribution and consumption of cannabis for recreational reasons among adults. While Lauterbach did […]
Pelosi Says Democrats’ Narrative Shouldn’t Be About Inflation—‘It’s About the Cost of Living’
House Speaker Nancy Pelosi is urging Democrats to “change the subject” in their campaigns two weeks before the midterm elections, saying that inflation is a global phenomenon. “The EU, the European Union, the UK, the British, have higher inflation rates than we do here,” the California Democrat said on CBS News’ Face the Nation. “It’s […]
What’s Next for Uranium? — With John Ciampaglia
Joining us today on The Daily Dive is John Ciampaglia, CEO of Sprott Asset Management and Senior Managing Director of Sprott Inc. John sits down with us today to dive into the topic of uranium. We cover the recent transaction between Cameco and Brookfield Renewable Partners, the ability of the West to replace Russian-sourced uranium, […]
BASF Permanently Reduces Operations in Europe Due to Surging Energy Costs, Tighter Regulations
Global chemical producer BASF is quickly cutting back its European operations as surging energy costs and tightened regulations in the region make it increasingly difficult to remain competitive. BASF on Wednesday said it will slash costs in the EU “as quickly as possible and also permanently” as energy prices in the region become too high […]
First Phosphate Obtains Drill Permits For 32,600 Metres Of Drilling
First Phosphate has obtained permits to conduct drilling at two of its properties found in Quebec. The planned drill programs are set to be conducted by First Nations Drilling of Mashteuiatsh, Quebec, with the company looking to provide opportunities for local employment as part of its exploration strategy. “Today’s announcement is an important step in […]
More Venezuelan Migrants At US Border Open Talks On US$3-Billion UN Aid
Migrant arrivals at the US-Mexico border have prompted conversations about unfreezing Venezuelan assets stored in foreign banks, which would give much-needed food and medicine. According to nine sources familiar with the discussions who told Reuters, Venezuelan legislators are debating ideas for a fund that could transfer more than US$3 billion in humanitarian aid to Venezuela […]
Alphabet Misses Q3 2022 Estimates, Records First YouTube Ad Revenue Decline
Alphabet Inc (NASDAQ: GOOGL) reported its Q3 2022 financials on Tuesday, highlighted by a quarterly revenue of US$69.09 billion. This is a marginal decline from Q2 2022’s US$69.69 billion but an increase from Q3 2021’s US$65.12 billion. The topline figure also missed the street estimate of US$70.7 billion quarterly revenue. “We’re sharpening our focus on […]
Bye Wind, Hello Coal: German Windmills Will Be Taken Down To Give Way To A Coal Mine
Eight wind turbines are about to be dismantled to make way for a planned Garzweiler open-cast pit in Erkelenz to mine coal. The windmills began functioning in 2001, and their incentives under the Renewable Energy Sources Act have expired. When the wind turbines were installed then, it was understood that the opencast mine would follow, […]
Bank of Canada Hikes Rates 50 Basis-Points, Warns of Further Increases
As a surprise to markets, the Bank of Canada delivered a slightly smaller rate hike, this time raising borrowing costs 50 basis points whilst warning of a significant deceleration in GDP growth and further increases to the overnight rate as inflation remains persistently high. The central bank’s overnight rate now sits at 3.75%, marking a […]