BMO: Weak Canadian Dollar To Weigh On Air Canada Earnings
BMO Capital Markets this past week lowered their price target on Air Canada (TSX: AC), saying that several headwinds have emerged which have put pressure on their 2023 estimates. As a result, they cut their 12-month price target to C$30 from C$35 while maintaining their outperform rating on the stock. Air Canada currently has 16 […]
Lucid Reports Solid 3Q 2022 Production Results; Stock Still Looks Expensive
On October 12, Lucid Group, Inc. (NASDAQ: LCID) announced impressive 3Q 2022 vehicle production statistics. These results represent the most constructive tangible news the company has released in some time. Lucid manufactured 2,282 Lucid Airs in the quarter, 62% more than it produced in the first two quarters of 2022 combined. Equally important, the 3Q 2022 production quantity brings the […]
Ex-Fed Chair Ben Bernanke — Who Downplayed The Housing Bubble Threat — Wins Nobel Prize In Economic Sciences
After the win, tributes to his past “works” have been pouring–but probably not in the way he wanted. Former Federal Reserve Chair Ben S. Bernanke and two colleagues were awarded the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work on banking and financial crises. Douglas W. Diamond, an […]
In Canada, The Wealth Gap Is All About Homeownership
A recent report from TD Bank uncovers a new narrative in Canada’s wealth inequality: it is no longer about the rich versus the poor, but a story of homeowners versus non-homeowners. “On the surface, Canada might appear to be doing quite well on inequality, but digging beneath that surface shows that we have merely papered […]
Chinese Chip Manufacturers Warn New US Export Controls Will Harm Global Semiconductor Supply
Chinese tech giants are starting to feel the heat from Washington’s latest export control measures targeting the the communist country’s semiconductor industry. The US Department of Commerce last week passed a new set of export control regulations intended to slow down China’s growing dominance in technology and military advancements. The new measures are an expansion […]
Trevor Milton Found Guilty of Defrauding Nikola Investors
Former Nikola CEO Trevor Milton was found guilty on three counts of fraud, after making false statements to investors with the intention of boosting the EV company’s stock price. A federal court in Manhattan previously charged Milton with two counts of securities fraud and two counts of wire fraud, arguing that he peddled lies about […]
Meta Could Pay Millions In Fines For Campaign Finance Disclosure Law Violations
Meta Platforms Inc (Nasdaq: META) may be facing millions in fines as a King County Superior Court judge found that the company intentionally violated Washington state’s campaign finance disclosure law hundreds of times. Passed by voters in 1972, the state’s campaign finance law, also known as the Fair Campaign Practices Act, requires sellers of political […]
Netflix To Offer Cheaper Ad-Supported Plan For $6.99
Netflix (Nasdaq: NFLX) on Thursday announced the rollout of a cheaper ad-supported subscription tier in November, contrary to the brand proposition that the company presented to its shareholders in a 2019 letter. The new plan, Basic with Ads, will cost $6.99, a dollar cheaper than Hulu’s ad-supported tier, and Disney+’s planned basic with ads rollout […]
#TrussOut: Liz Truss’ One-Month Tenure As Prime Minister May Not See Its Second
A group of senior Conservatives is rumored to be calling for the resignation of UK Prime Minister Liz Truss, threatening to cut her a little over than one month-old premiership short. According to sources who told BBC Newsnight editor Nicholas Watt, the firing of Chancellor Kwasi Kwarteng will embolden said Tories to come out publicly […]
Sweden’s Nuclear Revival: New Government Will Build More Power Plants to Keep up with Increasing Energy Demand
Sweden’s new government is expected to ask the country’s utility provider to build more nuclear reactors in a bid to boost electricity supply amid an expected influx of energy demand in the coming years. After winning elections last month, the right-wing Christian Democrat party announced on Friday it will request state-owned utility company Vattenfall AB […]