Nasdaq Stops Chinese Firms’ IPOs While Probe On Stock Rallies Ensues
The Nasdaq has halted the preparations for at least four small Chinese companies’ initial public offerings (IPOs) while it probes short-lived stock rallies of such firms following their debuts. According to attorneys and bankers that work on such stock launches, the big board decided to stay the pending IPOs amid a boom in the shares […]
Facebook Could Axe Canadian News Content Over Liberals’ New Revenue-Sharing Bill
Facebook is threatening to axe news content sharing on its platform as Canada’s federal government gets one step closer to imposing a new law forcing social media companies to share profits with news publishers. The Online News Act, which was first unveiled back in April, will force major social media platforms such as Meta Platforms […]
Activist Investor To Meta: “Limit The Metaverse”
“Time to get fit”–this is how the chief of one of Meta Platforms Inc (Nasdaq: META) investors called out the tech platform in its letter to the company board, addressed to CEO Mark Zuckerberg himself. Brad Gerstner, Founder and CEO of Altimeter Capital, wrote to the firms leadership, calling out the company’s “lack of focus […]
Commodities Trader Says The World Is Running Low On Copper
Trafigura, one of the world’s largest commodities traders, has a grim warning: copper stocks are running dangerously low. If inventories used to be counted in weeks of global consumption, they’re now being counted in days — with the forecast seeing it drop to just 2.7 days by the end of the year. Limited supplies signal […]
Rishi Sunak Appointed Conservative Party Leader, Becomes UK’s New PM
Boris Johnson’s former finance minister Rishi Sunak was appointed the Conservative Party leader, replacing embattled Liz Truss and becoming Britain’s newest prime minister. The 1922 Committee of Conservative lawmakers selected millionaire former Goldman Sachs analyst Sunak as the party’s next leader, after Johnson withdrew from the leadership race and centrist politician Penny Mordaunt was unable […]
Louis Vuitton CEO Sells Private Jet To Get Away From Trackers On Twitter
Bernard Arnault, the world’s third-richest man has found a way to go under the Twitterverse’s radar. Tired of having his flights tracked all the time, the French billionaire’s luxury goods company LVMH sold its US$73 million Bombardier Global 7500, Arnault said recently on Radio Classique. Twitter accounts like I Fly Bernard and Bernard’s Airplane have […]
Shanghai’s Strict Lockdown Proponent Is Xi Jinping’s Newest Premier
Chinese President Xi Jinping has been elected for an unprecedented third term–and while he forecasts a “positive trajectory” on one of the world’s biggest economies, his unveiling of the new makeup of the country’s highest decision-making body offers deeper insights to the future of his governance. The elite seven-member Politburo Standing Committee has been introduced […]
InsuraGuest Technologies Anticipates Continued Growth In Fiscal 2023
InsuraGuest Technologies (TSXV: ISGI) this morning released a business outlook for 2023 in conjunction with the filing of their fiscal year financing results for the period ended June 30, 2022. The company highlighted the announcement by pointing to revenues that grew 235% on a year over year basis. Filed on Friday evening, the company reported […]
Spey Resources Sees Exploration Get Underway At Quebec Lithium Properties
Exploration has begun on properties recently acquired by Spey Resources (CSE: SPEY) in Quebec within the James Bay region. The four properties were recently obtained by the company via the purchase of Lithium Energy Metal Corp. Spey has wasted no time in terms of getting exploration underway, with the purchase of the properties closing just […]
Pure Gold Mining Suspends Operations At Flagship Mine Due To Cash Constraints
Pure Gold Mining (TSXV: PGM) appears to have hit a wall in terms of turning around its operations as a result of the current financial market conditions. The firm this morning revealed that due to a lack of funding, the PureGold Mine is in the process of being placed into care and maintenance immediately. As […]