Advertisers Sue Meta For $7 Billion Over Alleged Inflated Reach Metrics
A group of advertisers has filed a lawsuit against Meta (NASDAQ: META), the parent company of Facebook and Instagram, over claims of inflated “potential reach” metrics in advertising campaigns. The lawsuit, amounting to a staggering $7 billion, alleges that Meta knowingly misrepresented the reach of ads on its platforms, leading to financial losses for advertisers. […]
Russia’s Central Bank Turns to Chinese Yuan for Reserves Amid Sanctions
In its annual report released on Friday, Russia’s central bank highlighted the increasing importance of the Chinese yuan in its foreign reserves management strategy. This comes after two years of Moscow’s war in Ukraine, which has led to the seizure of a significant portion of Russia’s international assets by Western nations as part of economic […]
Feds ‘Not Interested’ in Investing in LNG: ‘That’s the Role of the Private Sector,’ Says Energy Minister
Canada’s federal government has no plans to provide subsidies for future liquefied natural gas (LNG) projects, including funds to electrify LNG facilities currently being built, according to the country’s energy minister. In a television interview on Sunday, Energy and Natural Resources Minister Jonathan Wilkinson clearly said the private sector needs to assess the business case […]
Sigma Lithium To Proceed With 250,000 tpy Expansion, Delays Financial Results
Sigma Lithium (TSXV: SGML) has made the final decision to double its production capacity of lithium concentrate despite depressed prices on global markets. The expansion, which is expected to cost approximately $100 million, is expected to nearly double current production capacity from 270,000 tonnes per year to 520,000 tonnes per year of lithium. The additional […]
Snowline Gold Sees Major Shareholder Return After Warrant Exercise
Snowline Gold (TSXV: SGD) has seen the return of a major shareholder following the exercise of $12.5 million in outstanding warrants. Ana Maria Cox de Gubbins has increased her stake in the company to 10.6% via the exercise of 5.0 million common share purchase warrants at a price of $2.50 per each. The exercise, while […]
Auxly Cannabis Sees Imperial Brands Convert $123 Million In Debt To Equity Interest
Auxly Cannabis (TSX: XLY) has substantially bolstered its balance sheet, indicating this morning that Imperial Brands has elected to convert debt to common shares of the issuer. A total of $123.4 million in principal and accrued interest from an unsecured convertible debenture has been converted to shares. The debt, due September 25, 2026, was originally […]
Turkey: Erdoğan Suffers Defeat in Location Elections
In a significant setback for Turkey’s President Recep Tayyip Erdoğan, initial results from Sunday’s regional elections reveal a notable surge for the country’s main opposition party across various regions. The Republican People’s Party (CHP) has either retained or gained control over Turkey’s five largest cities, including Istanbul and Ankara, marking a pivotal moment for a […]
Ontario Increases Critical Minerals Innovation Fund in New Budget
Ontario’s latest budget includes a significant boost to the critical minerals innovation fund, with an additional $15 million allocated to drive advancements in technology across the mining sector. The critical minerals innovation fund is aimed at fostering technological progress from mining and processing to manufacturing, particularly in support of the transition to cleaner energy sources. […]
NIH Issues Notice of Default to BioNTech Over Alleged Royalty Payments
The National Institutes of Health (NIH) has taken legal action against BioNTech (NASDAQ: BNTX) for alleged failure to fulfill royalty payment obligations related to the sales of its Pfizer (NYSE: PFE)-partnered COVID-19 vaccine, Comirnaty. This move comes as outlined in BioNTech’s recent filing with the Securities and Exchange Commission. According to the SEC filing, BioNTech […]
General Motors CEO Mary Barra Remains Focused On EVs
Despite the electric vehicle sector facing headwinds this year, and with other automakers deciding to scale back electric vehicle plans amid slowing consumer demand, General Motors (NYSE: GM) CEO Mary Barra remains firmly committed to an all-electric future. “We will be selling more EVs in this country than anyone else, including Tesla,” Barra stated in […]