Apple: Canaccord Lowers Price Target On Expected iPhone Demand Drop
As the economy comes to a halt, consumers become more cautious with their wallets. Analysts have started to note demand changes in a number of consumer staples by watching and checking the wait time on several items. In a Canaccord Genuity Capital Markets note, they take aim at Apple, Inc (Nasdaq: AAPL), slashing their price […]
Mercedes-Benz to Build Its Own EV Charging Network
Mercedes-Benz will soon match its growing range of electric vehicles with the full experience as it ventures into creating its own network of public EV chargers. The German carmaker said that it plans to build a network of 10,000 chargers across the globe by 2030, starting with the US and Canada, and then later into […]
Delivery Problems Are Growing For EV Manufacturers
Electric vehicle (EV) manufacturers are facing several daunting obstacles. Most prominently, demand for the high-priced cars seems to be waning, so much so that Tesla, Inc. (NASDAQ: TSLA) felt compelled earlier this month to slash the prices of its most popular models by up to 20% in the U.S. and Europe. In addition, some supply chain issues continue to […]
The End Of Crypto? Binance Reportedly Unable To Process Sub-$100k Fiat Transactions As Of February 1
It is currently being widely reported that Binance has been cut off from the SWIFT (USD) system for transactions valued at less than US$100,000. Customers of the firm are reporting that an email communication was sent out earlier today notifying them of the change. The expected limitation on SWIFT-related transactions is reportedly to be put […]
Robinhood: Judge Opens The Door To Class Action Lawsuit
The risks that Robinhood Markets, Inc. (NASDAQ: HOOD) faces from its use of a payment for order flow (PFOF) trading model appear to have risen significantly. On January 18, U.S. District Judge Yvonne Gonzalez Rogers of the District Court for the Northern District of California ruled that a class action lawsuit related to the practice can move forward. […]
Zoltan Pozsar Says Dollar As Reserve Currency Is Under Assault
In his latest article, published with the Financial Times, Credit Suisse strategist Zoltan Pozsar reemphasized the current factors that threat the hegemony of the United States and the global status of US dollar as a reserve currency. “The dollar-based monetary order is already being challenged in multiple ways, but two in particular stand out: the […]
OpenAI Exploited Low-Paid African Workers to Train ChatGPT’s AI System
ChatGPT, the AI chatbot garnering massive attention across the tech space as of late, has a dark history. According to explosive revelations made by Time magazine, OpenAI, the research lab behind the disruptive chatbot technology, used the labour of Kenyan workers to review sexually and violently explicit content in order to train the algorithm to […]
GM, LG Scrap Plans to Build Fourth EV Battery Plant
General Motors (NYSE: GM) and LG Energy Solution have halted plans for a battery-cell factory in the US, according to people cited by the Wall Street Journal. The facility would have been the fourth to be developed by the companies through their 50-50 joint venture, Ultium Cells LLC. Ultium Cells currently operates one factory in […]
Copper Prices Hit 7-Month High As Peru Protests Chokehold Supply
Copper futures have reached past the $4.20 per pound mark, the highest level in seven months, as the promise of a demand boost from recovering China meets supply chain disturbance arising from the growing unrest in Peru. Protests in the world’s second largest copper exporter is threatening to choke off access to almost $4 billion […]
Canadians Aren’t Shopping: Retail Sales Down by Most in 11 Months
Thanks to persistently high inflation rapidly eroding away at their wallets, Canadians are avoiding shopping, particularly for food. Consumers are forced to make some tough sacrifices in the current inflationary environment. So much so, they are cutting spending even on necessities such as groceries. Latest data from Statistics Canada shows retail sales slumped 0.1% to […]