Iron Ore Pricing Weakness Does Not Suggest Economic Recovery
A concern for the global economy is the plummeting price of iron ore. After initially rallying after Russia’s invasion of Ukraine, the benchmark price of the steelmaking material with 63.5% iron content has lost about a third of its value over the last five months. Trading at about US$97 per tonne, iron ore delivered to Tianjin, a […]
MAGA Is Back: Donald Trump Announces 2024 Presidential Bid, And Biden Is [Kinda] Prepared
Opposing term limits in Congress, abolishing Joe Biden’s COVID policies, and paper ballot-only elections–a preview of the third Trump presidency. Former US President Donald Trump won’t take no for an answer. After losing his reelection bid in 2020, trying to overturn the results that led to US Capitol insurrection, and losing steam in some of […]
Chinese Banks’ Valuations on Par With US Counterparts During 2008 Financial Crisis
China’s banking sector is not faring too well amid the broader global economic slump, with investor pessimism surging to the same level US banks traded at during the height of the 2008 financial crash. Some of China’s biggest lenders, including Chanson & Co., and Industrial & Commercial Bank of China Ltd., are now trading at […]
Union Leader Accuses Bank Of Canada Governor Tiff Macklem Of Waging A Class War
“The medicine that the Bank has, with respect to inflation, is causing a lot of pain out there.” Lana Payne, president of Unifor, Canada’s largest private-sector union, accused central bank governor Tiff Macklem of class warfare amid Bank of Canada’s aggressive interest-rate hikes to tame inflation. “Rather than developing a tailored response intended to slow […]
Tech News Site Protocol Goes Bust, Lays off Staff As Tech Industry Faces Tough Economic Conditions
Technology news website Protocol is shutting down and laying off its staff, after failing to secure adequate advertising levels amid a broader tech sector slump. Protocol, which was first created by former Politico owner Robert Allbritton in 2020, is expected to cease operations by the end of the week and let go at least 60 […]
Ontario To Extend Gas And Fuel Tax Cut For Another Year
Ontario Premier Doug Ford said on Sunday that the government’s 2022 Fall Economic Statement will propose legislation that extends current gas and fuel tax rate cuts to December 31, 2023. The proposed extension follows legislation passed last spring that reduced gas tax by 5.7 cents per liter, and fuel tax by 5.3 cents per liter […]
Russia Bans Jim Carrey And 99 Other Canadians In Response To New Sanctions, Military Aid
Russia’s Foreign Ministry on Monday announced that 100 Canadians have been added to the list of people it has banned from entering the country. The announcement was made shortly after Canada sanctioned 23 Russians and pledged $500 million in additional military assistance for Ukraine, as Russia’s unprovoked invasion nears its ninth month. The additional sanctioned […]
DWAC Briefly Rallies Amid Trump 2024 Possibility
Never mind the failure to solidify a Republican base with some of his endorsed bets losing and former allies turning about, but former US President Donald Trump is slated to announce his intention to run again in 2024. Trump is set to make a “very important statement” Tuesday at 9 p.m. (New York time), after […]
First Phosphate Reports Mineral Estimate for Lac a l’Orignal Project
First Phosphate Corp has released a mineral resource estimate for its flagship property, the Lac a l’Orignal project, found north of Saguenay, Quebec. The estimate is said to mark the completion of the firms six stage plan to development plan as part of the North American lithium iron phosphate battery industry. “This MRE is key […]
Biden, Xi Signal Openness To Repair US-China Relations
The US president is resolute in believing his Chinese counterpart would not make an attempt to invade Taiwan in the near future, contrary to what his Secretary of State and US Navy said before. In their first meet up as respective heads of state of their countries, US President Joe Biden and Chinese President Xi […]