First Brands Did Not Last: The Billion-Dollar Implosion
First Brands Group’s collapse escalated this week as creditor Raistone alleged up to $2.3 billion has “simply vanished,” and the Department of Justice opened an inquiry, all just a few weeks after the company entered Chapter 11 in late September with about $11.6 billion in liabilities. In an Oct. 2 email, First Brands’ counsel Sunny […]
Charlie Javice Defrauds JPMorgan for $175M, JPMorgan Pays Her $115M Legal Bill to Defend Against It
A Delaware merger agreement forced JPMorgan Chase to pay $115 million in legal bills for two executives who defrauded the bank out of $175 million, court documents revealed last week. A federal judge sentenced Charlie Javice and co-defendant Olivier Amar for lying about the customer base of their student finance startup Frank when JPMorgan acquired […]
Ottawa Takes Backseat Role in Alberta-BC Pipeline Dispute
Canada’s energy minister says the federal government will serve as a “constructive participant” in discussions over Alberta’s proposed northern pipeline, placing responsibility on the two provinces to reach agreement on the contentious project. Tim Hodgson told senators Thursday that Alberta must gain British Columbia’s support and secure backing from Indigenous communities before the pipeline can […]
Federal Probe Opens Into Tesla’s Full Self-Driving Technology
Federal auto safety regulators have launched an investigation into Tesla‘s (Nasdaq: TSLA) Full Self-Driving technology following dozens of reports that vehicles using the system violated traffic laws and caused crashes. The National Highway Traffic Safety Administration disclosed the investigation Thursday, covering approximately 2.9 million Tesla vehicles equipped with FSD software. The agency identified 58 incidents […]
Bank of Canada to Businesses: Get Used to the Turmoil
Economic uncertainty has become the new normal, and Canadian businesses need to accept that reality and start investing again, a senior Bank of Canada official said this week in an unusually direct message to the country’s corporate sector. Carolyn Rogers, the Bank of Canada’s second-highest-ranking official, told a Toronto business audience that waiting for stability […]
China Imposes Sweeping Export Control, 0.1% Rule On Global Rare Earths
China has announced sweeping export controls covering rare-earth technologies, super-hard materials, and high-energy battery inputs, adding an extraterritorial licensing trigger at the 0.1% value threshold for foreign-made items and cutoff for battery cells. The package comprises measures, including one that immediately restricts exports of rare-earth process know-how (ie. mining, smelting, magnet and recycling technologies and […]
Bessent Approves $20B Argentina Bailout Benefiting Hedge Fund Run by His Friend
Treasury Secretary Scott Bessent has committed $20 billion in US taxpayer funds to rescue Argentina’s failing economy after his longtime friend and former colleague, hedge fund billionaire Rob Citrone, lobbied him to intervene, according to reports by Popular Information based on Argentine media sources. Citrone’s Discovery Capital Management holds large positions in Argentine bonds and […]
Aura Minerals Reports Q3 Production Of 74,227 Equivalent ounces
Aura Minerals (NASDAQ: AUGO) this morning released preliminary third quarter production results, reporting 74,227 ounces of gold equivalent production. That production came from five operating mines, and represents an improvement of 16% over the second quarter. The quarter is also said to be a record high for the company, with nine month production now reaching […]
Silver Storm Secures US$7.0 Million Offtake Financing Agreement For La Parrilla Restart
Silver Storm Mining (TSXV: SVRS) has secured an offtake financing agreement that is expected to assist in the restart of their La Parrilla operations in Mexico. The offtake arrangement, entered into with two subsidiaries of Samsung C&T, is for 100% of the lead-silver and zinc concentrate produced at the the mine over a two year […]
Baytex Energy Weighs $3B Eagle Ford Exit
Baytex Energy (TSX: BTE) is weighing a sale of its US Eagle Ford operations for as much as $3 billion, a move that would reshape a portfolio where the basin currently drives the majority of 2025 production and more than half of planned spending. Baytex is working with advisers to gauge buyer interest for the […]