CMHC: Housing Starts On The Rise in February
With home sales on the rise, housing starts are also undergoing notable increases, even despite high interest rates. On Wednesday, the Canada Mortgage and Housing Corporation (CMHC) reported that national housing starts rose 13% between January and February, from 216,514 units to 243,959 units. Urban starts increased 16% to a total of 222,663 units, multi-unit […]
New California Legislation Seeks to Ban Selling Tobacco Products to Those Born After 2006
California lawmakers will soon tackle Assembly Bill 935, the legislation prohibiting selling cigarettes and other tobacco products to anyone born after January 1, 2007. The proposed legislation is a phased tobacco ban that adds to the existing ban on selling tobacco products to anyone under 21 and the ban on all flavored tobacco products including […]
Is Credit Suisse Next? Swiss National Bank Ready To Provide Liquidity “If Necessary”
While asserting calm that Credit Suisse (NYSE: CS) “meets the capital and liquidity requirements imposed on systemically important banks” amid the series of bank collapses in recent days, the Swiss National Bank (SNB) said it is ready to provide the bank with liquidity “if necessary.” The statement comes after Credit Suisse became the latest bank […]
Robinhood Reports Gains In Trading Volume, But Payment for Order Flow Issue Hangs Over the Stock
On March 13, Robinhood Markets, Inc. (NASDAQ: HOOD) reported generally constructive monthly operating data for February 2023. Helped by much friendlier markets than seen throughout most of 2022, trading activity in key areas during the month rose to the highest levels in about a year. Robinhood’s equity trading volume reached US$57.3 billion in February 2023, up from US$46.0 […]
Canadian Home Sales on the Rise Despite High Interest Rates
High interest rates aren’t sending potential homebuyers to the sidelines. Latest data from the Canadian Real Estate Association shows that national home sales were up 2.3% between January and February, largely led by transactions in the Greater Toronto and Greater Vancouver areas. However, sales were 40% lower compared to February 2022, and are rather now […]
Is Russia Preparing to Issue ‘Patriotic’ Bonds?
It was reported on Tuesday on Interfax, which cited a source familiar with the matter, that Russia is preparing to launch so-called patriotic bonds to help fund its protracted invasion of Ukraine. The Russian Finance Ministry later denied the report and said that the idea was brought up but there are no plans on the […]
The Next Big Catalyst for Gold — With Doug Casey
Returning to the Daily Dive is Doug Casey, a world-renowned resource speaker, New York Times best-selling author, and founder of Casey Research. Doug joins us today to share his point of view on some of the biggest headlines this week, including the Fed’s recent moves, China, CBDCs, and of course, gold. Casey Research, LLC, publishes […]
Meta Platforms Will Lay Off Another 10,000 Employees as Zuckerberg Embarks on ‘Year of Efficiency’
Meta Platforms (NASDAQ: META) confirmed rumours of further impending layoffs on Tuesday, unveiling plans to let go upwards of 10,000 employees to keep in line with CEO Mark Zuckerberg’s mission to make 2023 the “year of efficiency.” In a memo on Meta’s website, Zuckerberg announced the latest round of layoffs will eliminate about 10,000 staff. […]
TikTok Mulls Split From Chinese Parent, But Users Hardly Care
TikTok’s executives are considering splitting off from ByteDance Ltd., their Chinese parent organization, as a way of addressing worries about potential safety threats. If the existing plan submitted to the national security authorities is not accepted, the only solution left would be to divest, either through a sale or an initial public offering, people aware […]
Credit Suisse Tumbles As Largest Investor Refuses To Provide Further Support
Credit Suisse (NYSE: CS) is currently attempting to recover from an over 20% tumble at the market open, following reports that its largest shareholder is unwilling to further support the bank as it continues to struggle. Saudi National Bank Chairman Ammar Al Khudairy in speaking with Bloomberg this morning commented “The answer is absolutely not, […]