Amazon to Acquire AI Chipmaker Perceive for $80 Million
Amazon (Nasdaq: AMZN) has announced plans to acquire Perceive Corp, an AI chipmaker and model specialist, for $80 million in cash. The acquisition, expected to close by the end of 2024, aims to enhance Amazon’s capabilities in large language models (LLMs) and edge computing. Perceive, a majority-owned subsidiary of Xperi Corporation (NYSE: XPER), was launched […]
US Trade Groups Appeal to Trudeau as Canadian Rail Crisis Looms
Major US agricultural trade organizations are calling on Canadian Prime Minister Justin Trudeau to intervene and prevent a potential rail strike that could severely impact North American commodity flow. In a letter signed by 35 industry groups, including the US Grains Council and American Farm Bureau Association, concerns were raised about the economic consequences of […]
SkipTheDishes and Parent Company Cut 800 Canadian Jobs in Major Restructuring
SkipTheDishes and its parent company Just Eat Takeaway.com are laying off approximately 800 Canadian employees. Paul Burns, CEO of SkipTheDishes, revealed this information on LinkedIn, saying that about 100 Canada-based workers from SkipTheDishes and 700 staff members from Just Eat Takeaway.com will be affected. “Decisions that impact people’s jobs are never simple or easy, however […]
PharmaDrug: Cepharanthine Identified For Potential To Bind To Monkeypox Proteins In Independent Screening
PharmaDrug (CSE: PHRX) is reporting this morning that cepharanthine, of which their subsidiary has developed a patented version with enhanced oral bioavailability, has been highlighted as having the potential to bind to monkeypox proteins following an independent screening of drugs to treat the disease.
Sponsored · Granada Gold Mine Inc.
Bitfarms To Acquire Stronghold Digital Mining For US$175 Million
Bitfarms (TSX: BITF) is set to expand its bitcoin mining capacity with the acquisition of Stronghold Digital Mining (NASDAQ: SDIG) in an all-stock transaction valued at US$175 million. The addition of Stronghold and its assets is expected to add 4.0 EH/s of hashrate to Bitfarms’ operation. Current fleet upgrade options available to Stronghold meanwhile provide […]
Atlas Salt Enters MOU For Salt Production Offtake And Joint Venture
Atlas Salt (TSXV: SALT) has taken a major step forward in the development of its Great Atlantic Salt Project. The company has entered into a non-binding memorandum of understanding for a salt production offtake agreement as well as for a joint venture for the distribution and sale of packaged salt and related products in Canada. […]
Silvercorp Initiates Construction On El Domo Copper Mine In Ecuador
With the completion of the acquisition of Adventus Mining, and the recent receipt of regulatory approvals, Silvercorp Metals (TSX: SVM) this morning announced that it has begun the process for construction at the El Domo copper-gold project in Ecuador. In connection with the decision, the company has hired the former manager of B2Gold Nunavut, Jaymes […]
Canada Jetlines Makes Filing Under Bankruptcy And Insolvency Act
Just days after ordering a halt to its operations, Canada Jetlines (CBOE: CJET) has announced that it has made a filing under the Bankruptcy and Insolvency Act in Canada. The formal filing, referred to as a Notice of Intention to Make a Proposal, saw the appointment of BDO Canada as a proposal trustee, whom is […]
Sponsored · Selkirk Copper Mines
Sudden Shutdown: What Canada Jetlines’ Demise Reveals About the Airline Industry
Canada Jetlines Operations (Cboe: CJET) abruptly ceased all airline operations on August 15, a decision that sent shockwaves through the Canadian aviation industry. The announcement came just days after a mass resignation of key executives, including the CEO and several board members, highlighting a company in deep turmoil. However, the story of Canada Jetlines’ downfall […]
Harris Aims to Reverse Trump-Era Tax Cuts with 28% Corporate Rate
Vice President Kamala Harris has announced a proposal to raise the corporate tax rate from 21% to 28% as part of her presidential campaign platform. The announcement came on Monday, coinciding with the start of the Democratic National Convention in Chicago. Harris’s campaign spokesperson, James Singer, framed the proposal as a fiscally responsible measure aimed […]