Russia’s Prison-Recruitment Scheme Descends Into Chaos
Russia’s recruitment of prison inmates to become soldiers in its war against Ukraine is becoming a crisis as military leaders lose control over the situation. The General Staff of the Armed Forces of Ukraine said last week that about 20 armed inmates recently fled from the frontline in occupied Donetsk. Russian forces are now hunting […]
CZ Accused SBF Of Depegging Tether Stablecoin Before FTX Bankruptcy
When one person believes another can just cause the collapse of the whole industry, the world of crypto may just be the group chat of these young moguls. A Signal group chat called “Exchange coordination,” Binance CEO Changpeng Zhao sent an alarming text accusing FTX founder Sam Bankman-Fried of destabilizing the industry the day before […]
No, ChatGPT Won’t Take Your Job — Not Yet — But Here’s How People Think It Will Change The World
Barely a fortnight into being released into the wild, ChatGPT, the “human-like” AI language model developed by OpenAI, has already generated millions of conversations. The typical user is at the same time astonished and afraid. Is humankind a step closer to being replaced by machines? Anyone who learned about artificial intelligence in the movies knows […]
TSMC Founder Morris Chang: “Globalization Is Almost Dead”
Morris Chang, founder of Taiwan Semiconductor Manufacturing Co., said that geopolitics have radically transformed the position confronting semiconductor companies, and “globalization and free trade are almost dead” and unlikely to return. The 91-year old businessman spoke on Tuesday at an event in Phoenix, Arizona, marking the symbolic first equipment installation at the company’s new plant. […]
Elon Musk Confirms Plans For 4,000-Character Tweets
Prepare your thumbs and eyes: Twitter is set to increase its character count to 4,000 from 280. Answering a query on Twitter on plans for longer tweets, Twitter CEO Elon Musk confirmed with a simple “yes” the change that could be considered fundamental to the platform’s differentiation. The billionaire has been teasing about the Twitter […]
China Makes Historic Economic Partnership With Saudi Arabia
Chinese president Xi Jinping is making a landmark visit to the Middle East— the first of its kind in almost seven years, making strategic partnerships on all things energy, defence, and investment. Ahead of a series of summits hosted by Saudi Arabia for Xi and other Gulf Arab leaders, the Chinese president met with King […]
BMO says Lundin Mining is Now Fair Valued; Downgrades the Stock
Lundin Mining Corporation (TSX: LUN) is having a strong rally into year-end, seeing its stock price rise 18% since the fourth quarter started, outperforming the general market. Lundin shareholders are probably very excited about the strength of the stock. BMO Capital Markets‘ analysts are saying that the stock is fully valued at the present time. […]
GameStop Reports 8.5% Drop in Revenue in Q3, with Substantial Adjusted EBITDA Loss; Valuation Remains Difficult to Understand
After the regular market close on December 7, GameStop Corp. (NYSE: GME) reported a second successive quarter in which its revenue declined versus the year-ago period. The company’s sales in 3Q FY 2023 ended October 29, 2022 were US$1.19 billion, down 8.5% from US$1.3 billion in 3Q FY 2022. GameStop reported an adjusted diluted EPS loss in 3Q FY23 […]
BMO Sees Higher Inflation Moving from Goods to Services
BMO Sees China with Historically Low Inventory Levels, as the World Shifts away from Reliance on China and Russia On December 5th, BMO Capital Markets released their key themes for metals and mining heading into 2023. They name several themes that they say will be “influential in 2023, over and above individual market dynamics.” Their […]
Federal Judge’s Comments Increase Skepticism That Lithium Americas’ Nevada Lithium Project Will Get Off the Ground
On December 2, Chief Judge Miranda Du of the U.S. District Court of the District of Nevada appeared to throw some additional cold water on Lithium Americas’ (TSX: LAC) Thacker Pass lithium project in the state. Various environmental groups have appealed the January 2021 decision by the U.S. Bureau of Land Management that had approved the project. […]