US House Urges SEC Loosen Laws To Open 401k Market To Crypto
The US is moving to relax longstanding constraints on digital-asset products, most immediately in retirement plans, after House members urged the SEC to implement President Donald Trump’s order on opening the $12.5 trillion 401(k) market to crypto. The SEC reportedly plans to “create new rules to allow crypto companies to launch products in the US […]
Beijing Woos Central Banks In Its Gold Reserves Custodial Push
China reportedly started positioning itself as custodian of foreign sovereign gold reserves using the People’s Bank of China’s Shanghai Gold Exchange to court “friendly” central banks, soon poised to undermine West’s leadership in the yellow metal’s reserve. According to Bloomberg, the PBOC has spent recent months urging partner central banks to buy bullion and store […]
Oil Executives Warn of ‘Twilight of Shale’ as Industry Faces Crisis
Oil and gas executives are painting an increasingly bleak picture of the US shale industry, with one anonymous CEO warning of the “twilight of shale” as companies struggle with low prices and rising costs. The comment comes from the Federal Reserve Bank of Dallas’ latest Energy Survey, released Wednesday, which found oil and gas activity […]
America First? US Signals $20B Line, Gov’t Debt Buyout For Argentina
The US signaled a large-scale rescue for Argentina, with Treasury Secretary Scott Bessent saying Washington is negotiating a $20 billion swap line with the central bank and stands ready to buy government debt. Bessent’s statement specified that “the Treasury is currently in negotiations with Argentine officials for a $20 billion swap line with the Central […]
Freeport Declares Force Majeure On Indonesia Copper Mine, Cuts Outlook By 35%
Freeport-McMoRan (NYSE: FCX) declared force majeure on contracted supplies from its Grasberg Block Cave mine in Indonesia after a mud-rush earlier this month halted the district. The company said a sudden rush of around 800,000 metric tons of wet material moved rapidly across multiple levels, killing two workers and five remain missing. Operations in the […]
Gunnison Copper Completes First Copper Cathode Sales From Johnson Creek Mine
Gunnison Copper (TSX: GCU) is officially a copper producer in every sense of the word, with the company this morning declaring that it has made its first sales of pure copper cathode, which were produced at their Johnson Camp Mine in Arizona. The first copper sales amounted to a total of 225,371 pounds of copper […]
1911 Gold Begins 25,000 Metre Underground Drill Program At True North
1911 Gold (TSXV: AUMB) has entered the next phase of its exploration plan, with the company this morning commencing a large underground drill program at their flagship True North Gold Project in Manitoba. The drill program currently intends to drill test 122 holes across an aggregate 25,000 metres, with the first drill hole to be […]
Air Canada Slashes Guidance After Labour Disruptions
Air Canada (TSX: AC) has finally disclosed the financial impact of strikes that occurred over the summer. The firm last night released updated guidance for the year alongside certain estimated results for the third quarter, highlighting that the labour disruption had a significant impact on their operations. For the third quarter, operated capacity is expected […]
BMO Explores Sale of US Branches Worth $6 Billion in Deposits
Bank of Montreal (TSX: BMO) is exploring the potential sale of some US branches holding approximately $6 billion in deposits, The Wall Street Journal first reported, as the Canadian lender reshapes its American operations following a major acquisition. The bank is considering divesting operations in specific regions, including Wyoming and the Dakotasl. The divestiture could […]
US Antimony Wins $245M Pentagon Contract For National Defense Reserve
US Antimony Corporation secured a sole-source, five-year contract worth up to $245 million from the Defense Logistics Agency to supply antimony metal ingots for the national defense stockpile. Reuters reports the first delivery order is expected “within the week,” with US Antimony positioned to start immediate fulfillment from its domestic facilities under the multi-year program […]