EU Court Rules Meta Can’t Harvest Data Without Explicit User Consent
Meta Platforms (NASDAQ: META) faces a setback as the European Union’s highest court upheld the ruling by German antitrust regulators that the company had engaged in data harvesting and abused its dominance in the social media realm. This ruling paves the way for Germany’s leading antitrust enforcer, the Bundeskartellamt, to restrict Meta from combining user […]
China’s Decision to Control Export of Key Metals Risks Backfiring in Trade War With G7
China has unveiled a new export licensing system for gallium and germanium, two key metals used in the production of chips, electric cars, and telecommunications equipment. The move highlights China’s dominant position in the global production of these metals, but it also carries the risk of backfiring on China’s efforts to maintain its technological development. […]
Zoltan Pozsar Is Back… “Behind A Paywall”
Zoltan Pozsar, renowned for his insightful analysis of global money markets, has resurfaced after months since his last piece and leaving Credit Suisse. But the economist might be appearing publicly for the last time as he intends to move forward with his career behind a paywall. Pozsar seems to be leveraging his fame by launching […]
Glencore Offers To Buy PolyMet Mining For US$2.11 A Share
Switzerland-based Glencore appears to be doing what it can to get closer with Teck Resources (TSX: TECK.B) following its failed bid earlier this year. Yesterday, it was revealed that PolyMet Mining (TSX: POM), whom operates a 50% joint venture with Teck, has received a non-binding proposal to be acquired by the Swiss mining giant. PolyMet’s […]
CloudMD Sells Off Remaining EMR Assets For US$6.3 Million
CloudMD Software & Services (TSXV: DOC) continues to shed assets as it looks to achieve profitability. The company has sold its electric medical records operation in the US, along with its practice management and revenue cycle management assets. The assets were sold to N. Harris Computer Corporation in what is believed to be an all-cash […]
Bird Global Chairman Steps Down, Replaced By Toronto Raptors Founder
In a significant development for Bird Global (NYSE: BRDS), John Bitove, the founder of the renowned Toronto Raptors basketball team, has been appointed as the new chairman of the company. Bitove’s appointment comes after Bird Global founder Travis VanderZanden resigned from his position as chairman of the board of directors at the e-scooter company, as […]
BC Dockworkers Strike, Costing Canada Upwards Of US$750 Million A Day
On July 1, about 7,400 British Columbia port workers at 30 locations, including the busy ports of Vancouver and Prince Rupert, walked off their jobs after union leaders’ talks with the British Columbia Maritime Employers Association (BCMEA) broke down. The collective contract for workers belonging to the International Longshore and Warehouse Union (ILWU) Canada had […]
Nigel Farage Claims Bank Accounts Closed Without Explanation, Fears Forced Exit from UK
Nigel Farage, the former leader of the UK Independence Party (UKIP) and prominent Leave campaigner in the Brexit referendum, has alleged that his bank accounts have been closed without any explanation. Farage, 59, stated that he had been a customer of a “prestigious” banking group for over 40 years but recently received a letter informing […]
The Irony Of Gemini Vs. SEC, According To Former Enforcement Chief
In a recent tweet by John Reed Stark, the former Chief of the SEC Office of Internet Enforcement, he highlighted the ongoing dispute between cryptocurrency company Gemini and the Securities and Exchange Commission (SEC). The SEC has accused Gemini of swindling $900 million from 340,000 investors through its EARN product. However, in an unexpected twist, […]
“Shock” In Higher Payments: OSFI Warns of Overreliance on Extended Mortgage Amortizations
The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, has issued a cautionary statement highlighting the excessive reliance of both lenders and borrowers on extending mortgage amortization periods. According to Peter Routledge, the head of OSFI, individuals with mortgages that have insufficient payments to cover the interest portion of the loan could […]