Ontario Raises Foreign Homebuyer Tax For The Second Time This Year
Ontario’s non-resident speculation tax on homes purchased by foreign nationals has been raised from 20% to 25% starting Tuesday. Applied to foreign individuals, corporations, or taxable trustees who buy homes in Ontario, the increase aims to discourage foreign speculation as the province seeks to address its housing shortage. “Young families, newcomers and those all over […]
Great Panther Mining Sells Off Peruvian Assets To Newrange Gold
Asset sales continue to occur for Great Panther Mining, whom announced this morning that it has reached a final agreement to sell certain Peruvian assets in exchange for much needed cash. The transaction will see the company sell Great Panther Peru Holdings Ltd, as well as Great Panther Silver Peru SAC to that of Newrange […]
NG Energy Upsizes Financing To $30.0 Million Due To Demand
Strong demand evidently exists for the convertible debenture offering announced by NG Energy (TSXV: GASX) recently. The firm last night revealed that it will be upsizing the offering as a result of the demand. The financing will now see the company sell up to $30.0 million senior secured convertible debenture units, with each debenture priced […]
Doug Ford Unveils New Housing Legislation Allowing up to Three Units Per Lot
The government of Ontario unveiled a series of sweeping changes to housing construction laws, in a bid to address a persistent housing shortage in some of the province’s most populated cities. The proposed adjustments were unveiled by Premier Doug Ford on Tuesday, and include changes to municipal zoning laws that will expedite the creation of […]
Raymond James: 7% Mortgage Rates Are The Breaking Point
It looks as if Raymond James is the first investment bank to throw in the towel on homebuilders and the housing market, as they downgraded every homebuilder in their coverage while also discontinuing their price targets on all but one single homebuilder. The companies in Raymond James coverage include D.R. Horton (NYSE: DHI), KB Home […]
Tory-Led UK About To Be “Sick Man Of Europe”, Headed For IMF Bailout — Guy Hands
Financier Guy Hands, co-founder and chair of Terra Firma Capital Partners and a long-time Conservative supporter, stated on Monday that the UK economy is “frankly doomed” unless the Conservatives choose a leader who “has the intellectual capability and the authority to renegotiate Brexit.” Hands added that the country risks IMF bailout if it fails to […]
Ontario Minister Touts Interest From “More Than Half A Dozen” Battery Makers After Trade Mission
Ontario is currently in talks with at least six EV battery manufacturers as a result of a trade mission to Germany and Austria led by provincial minister Vic Fedeli. “We have more than half a dozen battery makers looking at us right now,” says Fedeli. “Any manufacturer who is either making battery electric vehicles now […]
The Current Outlook For Gold, With Scott Walters
For the first time on the Daily Dive, we sit down with Scott Walters, President & CEO of Big Gold (CSE: BG). Scott sits down with our host, Cassandra Leah, to discuss the impact of geopolitical tensions on the gold sector, gold as a hedge for inflation, and his outlook on the precious metal. We […]
Canada’s Government Agrees to Finance $970 Million for SMR Nuclear Project
Feeling the pressure of a worsening and persistent energy crisis sparked by the conflict in Ukraine, Canada’s government has revived the significance of nuclear power, and is earmarking $970 million towards the development of next-generation small modular reactors (SMR) in the country. Jonathan Wilkinson, Canada’s Natural Resources Minister, on Tuesday is going to announce that […]
Bank of Canada Expected to Deliver Another Colossal Rate Hike as Recession Looms
The Bank of Canada is set to deliver yet another massive interest rate hike on Wednesday, even as economists increase their warning signal of a potential recession. Markets and economists are split between expectations of a 75 basis-point hike or a full percentage point jump, but one thing is clear: another increase in borrowing costs […]