JP Morgan To Slash, Reassign 1,000 Jobs From Mortgage Business Unit As Housing Market Cools Down
The latest windfall of housing market cooling off: JP Morgan Chase (NYSE: JPM) employees. The investment bank is reportedly laying off or reassigning around 1,000 positions in its mortgage unit. Around half would be redeployed to different business divisions while the rest are expected to be laid off, according to Bloomberg sources familiar with the […]
Revlon Defies Gravity Amid Filing For Chapter 11 Protection
Investors are feverishly debating whether the significant declines in the broad indices and even bigger falls in many of the market’s high fliers signal that the stock market is at or near a bottom, and whether the most speculative excesses have in turn been successfully flushed out of the markets. If a gauge of investors’ taking […]
Voyager Digital: Eight Capital Pulls Rating, Price Target After 3AC Exposure Confirmed
Voyager Digital (TSX: VOYG) provided the market with an update earlier this week, in which the first part of the news is that they received funding from Alameda for US$200 million and 15,000 BTC, which is worth roughly US$300 million, saying that the funds are intended to “be used to safeguard customer assets in light […]
Rio2 Plummets 57% Because Of Camels And Rodents
Chilean regulators are worried that Rio2 Limited’s (TSXV: RIO) Fenix Gold Project might be the straw that would break the camels’ (and rodents’) back. The country’s environmental assessor published a recommendation to eject the project over concerns for species of camels and chinchillas. The Canadian mining firm announced on Thursday that Chile’s Servicio de Evaluación […]
Mortgage Rates Hit Highest Level In 13 Years: “Affordability Crisis Dialed Up To An 11 Out Of 10”
Homebuyers are backing out of the market as mortgage rates have increased to their highest level in over 13 years, according to a real estate brokerage. Citing its own report, real estate company Redfin (NASDAQ: RDFN) said that they saw a reduction in homebuying demand. The firm’s seasonally-adjusted Homebuyer Demand Index recorded a 16% decline year-on-year–its […]
Is Silver Still A Buy? – The Daily Dive
Closing out the week for The Daily Dive is that of Tavi Costa, Partner & Portfolio Manager for Crescat Capital. Tavi joins us today to discuss possible alternatives to Russian gas, how he’s positioning hismelf in the current environment, and what his read on the silver market currently is. Also discussed is Switzerland’s move to […]
Harmony Heist: US$100 Million Stolen In Crypto Bridge Hack That Exposed System Vulnerability
In the latest hack within the crypto world, start-up blockchain Harmony reported a theft amounting to US$100 million. The hack on its Etheruem-based cryptocurrency bridge Horizon was discovered on Thursday, revealing a vulnerability in the digital asset ecosystem. “On Thursday, June 23, 2022, the Harmony Protocol team was notified of a malicious attack on our […]
Stellantis Acquires Stake In Decarbonized Lithium Producer Vulcan For €50 Million
Weeks after establishing its hydrogen fuel cell division, Stellantis NV (NYSE: STLA) has turned its investing attention into low-carbon lithium production. The automaker announced today its €50 million equity investment into lithium producer Vulcan. The investment effectively gives the Netherlands-based automaker an approximate 8% equity in Vulcan, making it the second-largest shareholder of the Australian […]
Coinbase Set To Offer Nano Bitcoin Futures
Coinbase Global (NASDAQ: COIN) is evidently looking to salvage what they can from the tumbling crypto market. The firm yesterday announced via a blog post that it would be making nano bitcoin futures available to trade through brokers. The nano futures are designed to enable those with less capital to be able to trade futures […]
E3 Lithium Commences Drilling For Lithium In Historic Albertan Oil Field
E3 Lithium (TSXV: ETMC) continues to perform this week, announcing this morning that the company has begun drilling for lithium in Alberta. The development follows the company yesterday announcing a strategic deal with Imperial Oil. Drilling of the first lithium evaluation well in Alberta is now underway, which is being conducted as part of the […]