Super Micro Computer Passes Investigation by One-Person Special Committee
Super Micro Computer Inc (Nasdaq: SMCI) shares rose Monday after a special committee investigation dismissed its former auditor’s concerns, though questions emerge about the review’s independence. “Special Committee, supported by outside counsel Cooley LLP and forensic accounting firm Secretariat Advisors, LLC, finds no evidence of misconduct on the part of management or the Board of […]
Toronto’s Development Charges Are Skyrocketing, Slowing Housing Construction
Development charges in Ontario municipalities have surged nearly 400% over the past decade, hampering new housing construction and affordability in Canada’s most populous province, according to industry data. In Toronto, charges for semi-detached houses have reached $140,000 per unit, while charges for two-bedroom condos have increased to $80,690. The high charges are deterring new construction […]
Tesla Ordered to Scrap Musk’s $55 Billion-Dollar Pay Package
Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s $55 billion pay package—the largest ever awarded to a corporate executive—has been struck down for the second time by the Delaware Chancery Court. In a decisive ruling on Monday, Chancellor Kathaleen St. J. McCormick reaffirmed her earlier judgment that Musk’s undue influence over Tesla’s board of directors rendered […]
Fraud to Fashion: Enron Is Selling Hoodies In A “Comeback” Nobody Asked For
Enron, the name that once epitomized corporate greed and fraudulent excess, has resurfaced—this time as an elaborate parody. The infamous energy giant that collapsed in 2001 after one of the largest accounting scandals in U.S. history has reappeared, sporting a sleek website, social media presence, and even a countdown clock promising something “very special.” But […]
Trump Suggests Canada Join US During Mar-a-Lago Meeting with Trudeau
During a Mar-a-Lago dinner Friday, President-elect Donald Trump, 78, discussed trade and border security with Canadian Prime Minister Justin Trudeau, 52, while proposing an unconventional solution to bilateral tensions. Trudeau pleaded against Trump’s threatened 25% tariff on Canadian imports, reportedly prompting the president-elect to joke about how Canada could resolve disputes by joining the United […]
Audit Flags $3.5B in Bad Loans, Weak Oversight in Canada’s COVID Business Aid
A pandemic loan program that distributed $49.1 billion to Canadian small businesses suffered from poor governance and unclear accountability, Canada’s Auditor General said Monday, while government officials defended the program as a crucial emergency measure. The audit found no federal organization accepted full responsibility for overseeing the Canada Emergency Business Account (CEBA) program, launched in […]
Martial Law Returns to South Korea After Four Decades To “Eliminate Pro-North Korean Forces”
For the first time in over four decades, South Korea has been placed under martial law. In a shocking televised address late Tuesday, President Yoon Suk Yeol announced the sweeping measure, citing the need to root out “pro-North Korean, anti-state forces” that he claims are paralyzing the government and threatening the country’s stability. The announcement […]
Cargill to Cut 5% of Global Workforce as Profits Slump
Cargill Inc. plans to eliminate 5% of its global workforce of 164,000, or around 8,000 jobs, as the world’s largest agricultural commodities trader grapples with falling profits amid lower crop prices and a shrinking US cattle herd. The job cuts at the privately held company come after profits fell to $2.48 billion in fiscal year […]
Scotiabank Falls Short of Investor Expectations Despite 5.9% Annual Earnings Jump
The Bank of Nova Scotia (TSX: BNS), commonly known as Scotiabank, has released its fiscal 2024 financial results, reporting a net income increase to $7.89 billion, up from $7.45 billion in 2023. Adjusted net income also rose modestly to $8.63 billion from $8.36 billion in the previous year, underscoring challenges in sustaining earnings momentum amid a […]
Alaska Energy Metals Hits 0.31% Nickel Equivalent Over 320.8 Metres At Eureka
Alaska Energy Metals (TSXV: AEMC) has released assay results from two of four drill holes conducted under a program focused on expanding the resource at the Eureka zone, part of the Nikolai project in Alaska.