Australia’s Inflation Soars to 30 Year-High as Food and Energy Costs Skyrocket
Australian consumer prices soared by the most in over three decades as food and energy costs skyrocket. Latest data from the Australian Bureau of Statistics showed consumer prices jumped 1.8% in the last quarter, and were up 7.3% year-over-year in September, marking the largest annual increase since 1990. The surge in CPI exceeded forecasts calling […]
Russia Alleges British Navy Was Behind Nord Steam Pipeline Sabotage
The Russian military is alleging that the UK Navy was behind the “terrorist attack” on the two Nord Stream pipelines. The Russian Ministry of Defence on Saturday announced that personnel from the Royal Navy “took part in planning, supporting and implementing” the sabotage attack that blew up the Nord Stream 1 and Nord Stream 2 […]
UN Says ‘Time Is Running Out’ As Greenhouse Gas Levels Hit New Highs
The World Meteorological Organization (WMO) on Wednesday reported that greenhouse gas concentrations surged at above-average rates, breaking records in 2021. The weather agency warns that “time is running out” for humans to make the necessary changes. The Greenhouse Gas Bulletin, an annual report by the WMO, showed that three main greenhouse gases — carbon dioxide, […]
Biden’s Diesel Problem: US Fuel Shortages are Dangerously Low Thanks to Ban on Russian Imports
US President Joe Biden is facing a very ugly dilemma ahead of next month’s midterm elections. Despite allocating all resources towards bringing down gasoline prices just long enough to get Democrats elected into Congress, stockpiles of diesel— the fuel that powers America’s workhorse— are still exceptionally low thanks to the ban on Russian energy imports. […]
Chile Proposes Changes To Mining Royalty Bill, Sets Flat 1% Ad Valorem Tax Rate
Chile’s finance ministry has proposed changes to the mining royalty bill that drew flak from miners, removing provisions that assessed higher rates for larger miners and based payments on copper prices. The amended proposal, presented by finance minister Mario Marcel on Wednesday, includes a flat rate ad valorem tax rate of 1% on large-scale miners […]
The Tinfoil Lady – Liz Truss Lost The Room QUICKLY
When former UK Prime Minister Liz Truss announced her intention to resign, it made her the shortest serving Prime Minister in British history, with 45 days in office. The prior record was held by George Canning, who served 119 days in 1827, before dying of tuberculosis. Truss’ resignation comes amid an ongoing assault from the […]
Meta Expects More Losses From Metaverse As Q3 2022 Financials Record Declines
Meta Platforms (Nasdaq: META) reported its Q3 2022 financials which continued the trend of year-on-year revenue decline first seen last quarter. The tech giant recorded US$27.71 billion in quarterly revenue, down from Q2 2022’s US$28.82 billion and Q3 2021’s US$29.01 billion. This, however, lands within the projected US$26 – US$28.5 billion in revenue guidance announced […]
Hong Kong Veers Away From China, Plans to Legalize Retail Crypto
Hong Kong is taking steps to reassure businesses that the city’s official stance on cryptocurrencies is distinct from that of mainland China, and it is now considering allowing exchanges and other intermediaries to sell directly to retail investors as part of its efforts to reintroduce fintech businesses. According to sources familiar with the situation who […]
SEC To Go After Overcompensation Of Listed Firms’ Executive Officers
The US Securities and Exchange Commission published rules on Wednesday requiring securities exchanges to adopt listing criteria requiring issuers to develop and implement a program allowing for the recovery of erroneously granted incentive-based remuneration to current or former executive officers. The final guidelines require a listed issuer to file the policy as an exhibit to […]
Is This The Low for Gold? — With Jeffrey Christian of CPM Group
Returning today to the Daily Dive is Jeffrey Christian, founder & managing director of the CPM Group. Jeffrey sits down with our host, Cassandra Leah, this afternoon to discuss monetary policy as it relates to recent actions by Japan, the impact of the political instability within the United Kingdom, and whether we are presently in […]