Suez Canal Revenues Plummet Amid Red Sea Instability
Suez Canal revenues plummeted by 64.3% year-on-year in May, reaching only $337.8 million due to ongoing instability in the Red Sea, according to Egyptian media reports. The number of ships passing through the canal has also dropped significantly, with only 1,111 vessels traversing the waterway last month, a 54% decrease compared to May 2023. The […]
Citron Research Exits GameStop Short Position, Says It Respects ‘Market’s Irrationality’
Well-known short-seller Citron Research announced Wednesday that it had closed its short position in the popular meme stock GameStop (NYSE: GME). The firm’s founder, Andrew Left, recently revealed that he was once again betting against the company, albeit with a significantly smaller position compared to 2021 when he was forced to close his short position […]
Indiva Files For Creditor Protection, Assets Expects To Be Picked Up By SNDL
Indiva Limited (TSXV: NDVA) is the latest cannabis operator to obtain creditor protection. The company has been granted an order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act. PricewaterhouseCoopers Inc has been appointed as monitor in connection with the filing, while Bennett Jones LLP is acting as counsel. The initial […]
Uranium Energy Corp Increases Burke Hollow Resource To 6.16 Million Pounds U3O8 M&I
Uranium Energy Corp (NYSE: UEC) has expanded its uranium mineral resources at its Burke Hollow Project in Texas following recent drilling at the project. The project is said to now have three production areas defined to date which are intended to use an in-situ recovery method of production. Total measured and indicated resources have increased […]
enCore Energy Begins Uranium Production At Alta Mesa
enCore Energy (TSXV: EU) officially has multiple producing assets in its portfolio. The uranium producer this morning revealed that production has begun at its Alta Mesa Uranium Central Processing Plant and Wellfield. With the start of production at Alta Mesa, enCore becomes the only US uranium producer with multiple facilities in operation, which follows the […]
US Sanctions Drives Insane Spreads In Ruble / Dollar Transactions
New US sanctions targeting Russia’s financial system have forced the Moscow Exchange (MOEX) to suspend trading in dollars and euros, as reported by Reuters on Wednesday. The move comes as Washington aims to restrict the flow of money and goods supporting Russia’s ongoing war in Ukraine. Both the exchange and the central bank swiftly released […]
EU Imposes Tariffs on Chinese Electric Vehicles Up To 38%
The European Commission has announced a proposed range of tariffs on Chinese electric vehicles, marking a significant escalation in trade tensions between the EU and China. The tariffs, which vary between 17% and 38%, are a response to what the Commission describes as “unfair subsidization” of Chinese EV manufacturers. The Commission’s investigation concluded that the […]
Deutsche Börse CEO Says Germany Is ‘Becoming A Developing Country,’ Calls Stock Market ‘A Junk Shop’
Theodor Weimer, the chief executive of Deutsche Börse (ETR: DB1), may have said the quiet part out loud when he claimed that Germany is “on the way to becoming a developing country” due to a lack of effective leadership by Chancellor Olaf Scholz’s coalition government. Weimer expressed dissatisfaction with the current state of the German […]
Quebecor Goes After Loblaw’s Partnership With Bell And Rogers: “Major Cause Of Concern”
Quebecor has lodged a formal complaint with the Competition Bureau of Canada, challenging a new agreement between Loblaw Companies (TSX: L) and telecom giants Bell (TSX: BCE) and Rogers (TSX: RCI.B) through their joint venture, Glentel. This agreement grants exclusive selling rights at The Mobile Shop to Bell and Rogers, potentially excluding Quebecor’s Freedom Mobile […]
‘Pharma Bro’ Martin Shkreli’s Shameless Antics Continue with Illegal Sharing of One-of-a-Kind Wu-Tang Album
Cryptocurrency collective named PleasrDAO on Monday filed a lawsuit against Martin Shkreli, the notorious “Pharma Bro” and convicted securities fraudster, for allegedly retaining and disseminating digital copies of a one-of-a-kind Wu-Tang Clan album, “Once Upon a Time in Shaolin.” The album, which has never been released to the public, was purchased by PleasrDAO from Shkreli […]