US Regulator Hits RBC-Owned City National With $65 Million Fine For Risk-Control Lapses
The US Office of the Comptroller of the Currency (OCC) has levied a US$65 million fine against City National Bank, a subsidiary of the Royal Bank of Canada (TSX: RY), due to deficiencies in its internal controls and risk management processes. This move is part of a broader trend of enhanced regulatory scrutiny over financial […]
Hut 8 Corp Loses Managed Service Capacity After Marathon Digital Site Purchase
Just two weeks after acquiring certain bitcoin mining sites in Texas and Nebraska, Marathon Digital (NASDAQ: MARA) is set to take over operational control of the sites from Hut 8 Corp(TSX: HUT). The mining sites on a combined basis account for 390 megawatts of operational capacity, which it acquired for $178.6 million from Generate Capital […]
Numinus Sees Integrated VC, MAPS Lead $6.0 Million Funding Round
Numinus Wellness (TSX: NUMI) has received a major vote of confidence, announcing last night that it will be conducting a bought deal financing led by a VC firm, and will see participation from MAPS, a non-profit organization focused on research and education within the psychedelics space of mental health. The venture capital firm leading the […]
Tesla Settles Hazardous Waste Lawsuit In California
Tesla Inc. (Nasdaq: TSLA) has agreed to a $1.5 million settlement in response to accusations of mishandling hazardous waste across its facilities in California. This settlement comes after district attorneys from 25 counties in California brought forth allegations in a lawsuit titled The People of the State of California v. Tesla Inc., filed in state […]
FTX Anticipates Full Repayment to Crypto Customers Amid Bankruptcy Proceedings
In a recent court hearing, FTX, the now-bankrupt cryptocurrency exchange once overseen by Sam Bankman-Fried, expressed its commitment to fully reimburse its customers. This announcement comes against the backdrop of ongoing bankruptcy proceedings, where U.S. Bankruptcy Judge John Dorsey preliminarily approved a pivotal date marking FTX’s actual bankruptcy, coinciding with turbulent market conditions. While FTX […]
CMHC: Record Immigration Drove Rental Demand
In Metro Vancouver, renters are grappling with escalating costs and a persistently low vacancy rate, which remains one of the most challenging in Canada. The Canada Mortgage and Housing Corp. (CMHC) recently revealed in its 2024 Rental Market Report that the vacancy rate for the region stayed at 0.9%, mirroring the figures from 2022. This […]
Iran, Syria, and Binance Are Lawsuit Targets in Connection with Hamas Attack
Three American families affected by Hamas’ October 7 attack on Israel have filed a lawsuit against the governments of Iran and Syria, as well as cryptocurrency exchange Binance and its former CEO, Changpeng Zhao. The families claim that these entities provided financial and material support to the Palestinian group responsible for the attack, which resulted […]
Canadians Have Been Slow To Move Away From Cash — Bank Of Canada
The Bank of Canada has released its highly anticipated 2022 Methods-of-Payment (MOP) Survey, providing valuable insights into Canadians’ payment behaviors and shedding light on the ongoing evolution of the nation’s payment landscape. The comprehensive survey, which measures adoption, use, and perceptions of payment methods, particularly cash, serves as a crucial tool for the design and […]
FBI Director Warns That Chinese Hackers Are Preparing To Cause ‘Real-World Harm’ To US Infrastructure
FBI Director Christopher Wray testified before the House Select Committee on the Chinese Communist Party, warning that hackers associated with the Chinese government are actively targeting critical US infrastructure with the intent to cause harm in the real world. “China’s hackers are positioning on American infrastructure in preparation to wreak havoc and cause real-world harm […]
Chinese Stock Sell-Off Continues Following Evergrande Liquidation
The sell-off in Chinese stocks has deepened, erasing earlier gains driven by optimism over stronger support measures from authorities. The benchmark CSI 300 Index of Chinese mainland shares experienced a decline of as much as 1.3%, temporarily wiping out gains accumulated since January 22 when authorities vowed more robust measures to support the market. Despite […]