Trudeau Government Orders 35% Emissions Cut from Oil Giants by 2030
Canada will force its energy sector to slash greenhouse gas emissions by 35% over the next six years, introducing a sweeping policy that deepens the rift between federal and provincial governments. The initiative, announced by Environment Minister Steven Guilbeault, introduces a market-based emissions trading program set to take effect in 2030. The system will establish […]
Warren, Hickenlooper Push Fed for 50 Bps Rate Cut
Democratic Senators Elizabeth Warren of Massachusetts and John Hickenlooper of Colorado have urged the Federal Reserve to implement a 50 basis point reduction in the federal funds rate at the upcoming November Federal Open Market Committee meeting. Their call comes as recent data shows inflation has fallen to 2.1%, the lowest level since February 2021. […]
Canadian Mortgage Delinquency Rates Expected to Rise Through 2025
Canada’s housing market faces ongoing challenges despite showing resilience against higher interest rates, according to a new report from the Canada Mortgage and Housing Corporation (CMHC). The report highlights increasing delinquency rates and concerns about alternative lending practices. While overall mortgage delinquencies exceeding 90 days reached 0.19% in the second quarter of 2024, up from […]
SNDL’s Liquor Sales Slip While Cannabis Gains Drive Record 26.6% Margin in Q3 2024
SNDL Inc. (NASDAQ: SNDL) announced its financial results for the third quarter ending September 30, 2024. While the company posted strong gross margins, significant cash reserves, and positive cash flow, year-over-year revenue remained largely flat, facing headwinds particularly in its liquor retail segment. The company reported net revenue of $236.9 million for Q3 2024, a […]
Endeavour Silver’s 24% Output Drop Drives $17.3M Loss, Cost Pressures Mount
Endeavour Silver Corp. (TSX: EDR) reported mixed financial and operational performance for Q3 2024, shaped by production shortfalls, rising costs, and a complex balance sheet. The firm’s revenue for Q3 2024 reached $53.4 million, marking an 8% increase over the $49.5 million reported in the same quarter last year. However, this growth was largely attributable […]
Teck Resources To Spend Up To US$3.9 Billion Over Next Four Years On Copper Strategy
Teck Resources (TSX: TECK.B) is focusing its efforts on building out its copper production. The firm this morning indicated it intends to grow copper production to 800,000 tonnes per year by 2030. The Canadian miner intends to spend between US$3.2 and US$3.9 billion over the next four years as it works to develop four global […]
Jericho Energy To Spin Out Hydrogen Assets
Jericho Energy Ventures (TSXV: JEV) is set to split its operations in two, with the firm this morning announcing a plan to spin out its hydrogen assets into a new company, referred to as Hydrogen Technologies Corporation. The spinout will result in the division of its oil assets and its hydrogen assets into two separate […]
SNDL Closes On Acquisition Of Indiva Via CCAA Proceedings, Pays $22.7 Million
SNDL (NASDAQ: SNDL) is expected to now be the leading cannabis edible producer in Canada, following its acquisition of Indiva Limited through CCAA proceedings. The acquisition follows SNDL serving as the stalking horse bid under those creditor protection proceedings. SNDL is said to have paid total consideration of $22.7 million for Indiva’s assets, with the […]
Palantir Sees 30% Revenue Jump in Q3 2024, Raises Revenue Guidance Again
Palantir Technologies (NYSE: PLTR) has raised its annual revenue forecast for 2024 for the third time this year. The company now anticipates full-year revenue between $2.805 billion and $2.809 billion, a boost from its prior guidance of $2.742 billion to $2.750 billion. The tech firm posted Q3 2024 revenue of $725.5 million, representing a 30% […]
Uber Q3 Earnings: Is Autonomous Driving A Risk?
Surprise surprise. We’ve got another set of disappointing Q3 tech earnings. The latest culprit? Uber. The ride hailing platform saw its stock crater nearly 11% by midday on Thursday, following the company releasing guidance that suggests that momentum may be slowing in the company’s growth, with the guidance failing to meet analyst expectations. Lets dive […]