Lumber Prices Plummet Amidst Weakening Demand
Lumber prices have plummeted to around $500 per thousand board feet, marking a stark departure from the soaring prices witnessed in recent years. The latest data from industry sources paints a picture of diminishing demand, particularly from the vital property sector. At the start of April, lumber sales volumes remained notably subdued, a departure from […]
‘Oracle of Wall Street’ Foresees Housing Plunge Because Men Are Moving Back in with Their Parents
Meredith Whitney, the former Wall Street analyst who famously predicted the 2008 financial crisis, has a new controversial theory about what’s driving the future of the US housing market. According to Whitney in a recent interview with Fortune, young single men living at home playing video games are contributing to a “crisis of the American […]
Microsoft Unveils VASA-1, An Eerily Realistic AI That Animates Still Portraits
Microsoft (Nasdaq: MSFT) has announced VASA-1, an AI system capable of bringing still images to life. The model uses a single photo of a face and an audio clip to generate a stunningly realistic video of that person speaking the audio. VASA-1 meticulously animates facial expressions, lip movements, and even head motions to create an […]
GoviEx Uranium Sees Nigerian Government Set Deadline For Mining To Begin At Madaouela
GoviEx Uranium (TSXV: GXU) is evidently at risk of losing its mining permit for its flagship Madaouela uranium project in Niger. The local government has provided the company with a hard deadline to commence mining operations, or risk losing the permit entirely. The company for its part has stated that it is committed to developing […]
Tesla Forced To Recall All Cybertrucks Due To Faulty Pedal Trim
Tesla (NASDAQ: TSLA) has been forced to recall its Cybertruck over faulty trim related to its acceleration pedal. The bulletin, posted on Wednesday by the National Highway Traffic Safety Administration, states that “The accelerator pedal pad may dislodge and become trapped by the interior trim.” The issue has notably been the feature of social media […]
Telecom Giant Rogers Faces Call to Expropriate Vacant Properties for Affordable Housing
A local researcher in Toronto has ignited a push to expropriate a collection of mostly vacant homes owned by telecommunications giant Rogers Communications (TSE: RCI.B) and convert them into affordable housing units. The proposal, submitted by Adam Wynne on the City’s Ward 13 engagement website Toronto Centre Projects, seeks to address the city’s ongoing housing […]
Is China Turning Into An Oil Powerhouse?
China, long known for its voracious oil consumption and burgeoning electric vehicle market, is reclaiming attention as a major oil producer with a recent surge in domestic output. This resurgence comes after years of decline and poses significant implications for global oil dynamics. Through substantial investments via its state-owned energy giants—China National Petroleum Corp. (CNPC), […]
Capital Gains Tax Hike Draws Criticism from Trudeau’s Former Finance Minister
The Liberal government of Prime Minister Justin Trudeau has raised the capital gains tax inclusion rate in its latest federal budget. The measure, announced by current Finance Minister Chrystia Freeland, will increase the portion of capital gains that are subject to taxation from 50% to 66.67% for gains over C$250,000 for individuals, while corporations are […]
Panama Canal Increases Daily Transits As Drought Conditions Ease
The Panama Canal Authority (ACP) announced that it will gradually increase the number of ships allowed to transit the canal each day. The ACP said that it will allow up to 32 ships per day to pass through the canal starting June, up from the current limit of 27. This follows an earlier increase from […]
Arrests (Finally) Made in $20 Million Pearson Airport Gold Heist
One year after a brazen gold heist at Toronto’s Pearson International Airport, Peel Regional Police have arrested nine people, including several current and former Air Canada employees, in connection with the $20 million theft. The joint investigation between Canadian and US authorities, dubbed “Project 24K,” resulted in the arrests of Parmpal Sidhu, Amit Jalota, Ammad […]