Credit Card Defaults Surge to Highest Level Since 2008 Crisis
US credit card defaults have surged to levels not recorded since the 2008 financial crisis, with lenders writing off $46 billion in bad debt during the first nine months of 2024. The write-offs, tracked by BankRegData, represent a 50% jump from the previous year, highlighting growing strains on American consumers who collectively owe $170 billion […]
KoBold Metals Raises $537M in Funding Round with Bill Gates’ Support
In a significant move to bolster the transition to renewable energy, KoBold Metals, a U.S.-based exploration company leveraging artificial intelligence, announced it has raised $537 million in equity funding. Backed by notable names such as Bill Gates and leading investment firms, this funding round propels KoBold’s mission to uncover vital minerals essential to clean energy […]
Jervois Turns to Rescue Deal to Survive Cobalt Price Plunge
Jervois Global (TSXV: JRV) announced a major restructuring plan on Thursday, including delisting and privatization, following years of difficulty competing with dominant Chinese cobalt producers. The move was driven by a dramatic collapse in cobalt prices and sustained market oversupply. Once heralded as a linchpin of the green energy transition, cobalt—a critical component in EV […]
Tesla Reports 495,570 Deliveries In Q4
Tesla (NASDAQ: TSLA) this morning published the production and delivery results for its fourth quarter of 2024, highlighted by deliveries of 495,570 vehicles. On the production side, the fourth quarter saw 436,718 Model 3/Y’s produced, while 22,727 Other Models were produced, with total production hitting 459,445 vehicles. For all of 2024, 1,679,338 Model 3/Y’s were […]
MustGrow Acquires NexusBioAg For $1.66 Million In Cash, Future Earn-Out Payments
MustGrow Biologics (TSXV: MGRO) has completed the previously announced acquisition of NexusBioAg from Univar Solutions Canada. Classified as an asset purchase agreement, the arrangement saw MustGrow acquire “certain assets” that represent the company. While details on the transaction are slim, the company is said to have paid $1.66 million in the form of a deferred […]
Cameco Sees Production Halted At Inkai Joint Venture
Cameco (TSX: CCO) is off to a rough start to 2025, with the company announcing this morning that production at its Inkai LLP joint venture with Kazatomprom has been halted as of January 1. The production halt is in relation to the submission of documentation for uranium deposit development to authorities in Kazakhstan. The joint […]
Canada to Start Tracking Gig Workers’ Income Under New Tax Rules
Canada will require digital platforms like Uber and DoorDash to disclose their workers’ earnings to tax authorities from 2024, marking a significant change for millions of gig workers under new federal legislation. The amendment to the Income Tax Act, Bill C-47, sets a January 31 deadline for platforms to report to the Canada Revenue Agency. […]
i-80 Gold Buys Time with Precious Metal Deferrals Amid Cash Crunch
i-80 Gold Corp. (TSX: IAU), facing mounting financial pressures, announced the deferral of December 2024 gold prepay and January 2025 silver purchase agreement deliveries. This move underscores the company’s weak financial position but also reflects an effort to buy time for a recapitalization plan aimed at stabilizing its operations and securing its future. The deferred […]
Hertz Slashes Prices on Electric Vehicles Rented From Its Fleet
Hertz Global Holdings (NASDAQ: HTZ) is employing a unique strategy to mitigate ongoing losses in its electric vehicle fleet. The rental giant is offering its customers the option to purchase their rental EVs at deeply discounted rates, signaling an accelerated effort to offload inventory and shrink its fleet of depreciating EVs. Hertz has been contacting […]
Mexican Tequila Industry Faces Glut, Trade Threats as Demand Slows
Mexico’s tequila industry confronts mounting inventories and potential US tariffs as demand cools following years of explosive growth, industry data shows. Inventories have reached 525 million liters, approaching the industry’s annual production of 599 million liters, according to figures shared with the Financial Times by the Tequila Regulatory Council. US consumption declined 1.1% in early […]