When Climate Goals Backfire: NYC Electric Garbage Trucks Aren’t Powerful Enough to Double as Snowplows
Electrifying everything in the name of going carbon neutral sometimes just doesn’t work: as it turns out, NYC’s all-electric garbage trucks can’t double as snowplows because they just aren’t powerful enough. That is what New York City’s Department of Sanitation is learning, as the shortcomings of electricity-powered vehicles are hindering the city’s zero carbon goals. […]
House of Representatives Bans TikTok On All Official Devices
TikTok, the popular Chinese-owned video-streaming app, has now been banned on United States House of Representatives-issued devices. The House’s Chief Administrative Officer Catherine Szpindor sent a memo to all lawmakers and staff on Tuesday, declaring the app “high risk due to a number of security issues,” and instructing all involved to delete it from all […]
Adidas Is Stuck With $530 Million Worth Of Yeezy Sneakers After Cutting Ties With Kanye West In October
Adidas (ETR: ADS) has a US$530 million Yeezy problem. Two months after severing ties with Kanye West, who now goes by Ye, Adidas is left with more than half a billion dollars worth of unsold Yeezy sneakers, according to the Financial Times. People familiar with the matter told FT that the German sportswear giant is […]
The New York Times Slammed For Writing Another Sam Bankman-Fried “Puff” Piece
In a recent article titled “In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried,” New York Times journalist Rob Copeland quotes local Bahamians who appear to be mainly positive about the cryptocurrency exchange founder. According to the story, Bankman-Fried’s positive assessments from residents originate from his millions of dollars in gifts to local charities, churches, […]
First Phosphate Raises $2.3 Million Via Oversubscribed Offering
First Phosphate has closed its most recent round of financing, raising gross proceeds of $2.3 million via an over-subscribed non-brokered private placement. The financing consisted of both hard and flow through units being sold. Under the terms of the offering, 4.3 million hard dollar units were sold, at a price of $0.35 per unit, with […]
Tesla Trades Like a Falling Knife, Yet It’s P/E Multiple Is Much Higher Than Its Comps
Tesla, Inc. (NASDAQ: TSLA) shares are down 68% YTD and 43% just during December 2022. Furthermore, the stock of the world’s biggest electric vehicle maker continues to be the focus of many investor conversations regarding its (horrible) price performance and valuation — and its implications for future stock market performance and valuation. Tesla shares have been rocked […]
Taiwan Extends Compulsory Military Service Amid Growing Tensions With China
With tensions between China escalating rapidly, Taiwan is looking to beef up its military in the event of an invasion, starting by extending the country’s mandatory conscription service. Taiwan’s president Tsai Ing-wen on Tuesday announced a series of upgrades to the country’s military, including extending compulsory basic training for men over 18 from five weeks […]
MicroStrategy Adds 2,500 Net Bitcoin To Its Portfolio – But Not Without Selling Some First
It may have taken awhile amid the downturn in current crypto markets, but MicroStrategy (NASDAQ: MSTR) has finally made another bitcoin purchase. The latest addition saw a total of $42.8 million worth of bitcoin added to the firms holdings. The purchase, which as per SEC filings occurred between November 1 and December 21, 2022, saw […]
Galaxy Digital To Buy Bitcoin Mining Facility From Argo Blockchain
Bitcoin miners might be losing money under current market conditions, but that’s not stopping Galaxy Digital (TSX: GLXY) from continuing to push to enter the fray. The firm this morning revealed it has acquired a mining facility from that of Argo Blockchain (NASDAQ: ARBK). Galaxy will pay US$65 million for the Dickens County, Texas-based Helios […]
Vladimir Putin Bans Oil Exports to Countries With Price Caps
Russian President Vladimir Putin is taking retaliatory measures against the West’s price cap on its crude exports. On Tuesday, Putin signed a presidential decree banning all oil shipments into countries preparing to exercise the EU’s agreed-upon $60 price cap on Russian crude. The move also bans petroleum product deliveries even if the contracts don’t directly […]