Newcrest Takes Newmont’s “Best And Final” $19.2 Billion Acquisition Bid
Australian gold miner Newcrest Mining (TSX: NCM) said on Monday it would back Newmont Corp’s (NYSE: NEM) takeover offer in one of the world’s largest buyouts so far this year. The two mining giants entered into a binding scheme implementation deed that pegged Newcrest at an enterprise value of A$28.8 billion ($19.2 billion), solidifying Newmont’s […]
Natural Gas Rigs Fall At Fastest Pace In Seven Years
In its weekly rundown of oil and natural gas drilling rigs operating in North America, Baker Hughes Company (NASDAQ: BKR) announced that the number of natural gas rigs running on May 12 declined to 141, down 10% from 157 on May 5. The 16-rig week-over-week decline was sharper than any week during the dark days of the COVID […]
The Rise & Fall of VICE Media: A Cautionary Tale of Bold Journalism
This is a story about how a few curious punk rock kids from Montreal changed the media world with edgy, unapologetic content, as the internet disrupted the way we consume media. Building a company to a $5.8 billion valuation and now staring bankruptcy in the face owing creditors over a billion dollars. Starting out as […]
Bill C-18: The Online News Act (…of sabotage!)
Lots of hand wringing in the corporate media as bill C-18, The Online News Act, freshly passed by the House of Commons, does a likely final circuit around the Standing Senate Committee on Transport and Communications, who will likely sand off the edges and make it a law that defines the Canadian media landscape for […]
California Defaults on Billions in Federal Debt, Forcing Business Owners to Split the Bill
Businesses in California are now financially responsible for the state’s nearly $20 billion federal loan default, which was taken out to address California’s unemployment fund deficit during the Covid pandemic. The state ceased making payments on the loan, and as per federal law, when a state defaults on a federal unemployment insurance loan, its businesses […]
Peloton Recalls Over 2 Million Bikes In The US, Offers Free Part Replacement
Peloton (NASDAQ: PTON) has issued a voluntary recall for 2.16 million bikes in the US due to the risk of injury after a number of reports of the seat post breaking “unexpectedly” while in use. The US Consumer Product Safety Commission (CPSC), which on Thursday advised Peloton Bike owners to immediately stop using their bikes, […]
FDIC Announces that Big Banks Will Bear the Brunt of Paying Back Deposit Insurance Fund
The Federal Deposit Insurance Corporation (FDIC) on Thursday announced that large United States lenders will bear most of the cost of replenishing the government’s foundational deposit insurance fund. The fund was recently drained of $15.8 billion after the collapse of Silicon Valley Bank and Signature Bank in March. FDIC will apply what it calls a […]
Bluesky: The New Twitter? | Exploring Jack Dorsey’s New Venture
Remember “Big Head” from the show “Silicon Valley”? You know, the lucky and lazy tech guy who always seemed to stumble into success as a direct result of his lazyness? Well, picture him as the real-life Jack Dorsey, aka, the founder of Twitter. Just like Big Head, Jack’s complacency and laissez-faire approach to monitoring speech […]
WGA Strike: the plot thickens
As the Writers’ Guild of America, which represents television and film writers in the United States, nears the third week of its first strike in fifteen years, there’s no end in sight. At issue in the WGA strike: royalties and residuals from streaming shows, and the future of screenwriting in an AI-equipped world. Traditionally, screenwriters […]
Binance Officially Withdraws Its Services Out Of Canada
Binance, the cryptocurrency exchange that has been at the heart of numerous controversies including the FTX implosion and subsequent cancelled Voyager Digital buyout, has officially pulled the plug on servicing its Canadian customers. On Friday, Binance announced it will be withdrawing from the Canadian market, citing stringent regulatory hurdles. “Unfortunately, new guidance related to stablecoins […]