Teck Sells Off Coal Unit, With Glencore Taking Majority Stake For US$6.9 Billion
Glencore has won the battle. Teck Resources (TSX: TECK.B) early this morning indicated that it has reached an agreement to sell a majority stake of its steelmaking coal business to the Swiss mining giant, with a minority stake to be sold to Nippon Steel. The business unit will be sold at an implied enterprise value […]
JPMorgan Throws Cold Water On Bitcoin Bull Thesis
Amidst growing anticipation surrounding the potential approval of spot bitcoin exchange-traded funds (ETFs), digital assets have experienced a notable upswing in the past month. However, according to a research report by JPMorgan, the bank suggests that this surge may be excessive. The bullish sentiment driving this enthusiasm is attributed to two key arguments, as outlined […]
The US Government May Soon Be Able to Shut Down Your Vehicle
Representative Thomas Massie’s attempt to defund a federal “kill-switch” mandate, embedded in President Joe Biden’s $1 trillion 2021 infrastructure law, recently failed on the House floor. The amendment sought to remove a controversial provision that requires all vehicles manufactured post-2026 to incorporate technology capable of immediately disabling them “if impairment is detected.” It faced a […]
Ships Are Paying Millions to Skip the Line at the Panama Canal
Japan’s Eneos Group set a new record by paying nearly $4 million to secure priority passage through the congested Panama Canal. The company paid $3.975 million in an auction, surpassing previous payments for expedited crossings. Eneos, a major player in transporting commodities such as crude oil, liquefied petroleum gas, chemicals, and bulk cargo, did not […]
New Found Gold Drills 18.23 g/t Gold Over 6.75 Metres At Jackpot
New Found Gold (TSXV: NFGC) is reporting that it has further extended the recent Jackpot discovery at depth following drilling that was focused on the new discovery. A total of 18 drill holes saw results released this morning, targeting the Jackpot and Everest zones. Highlights from the results include NFGC-23-1523: 6.75 metres of 18.23 g/t […]
CPI Flat At 3.2% In October
The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October on a seasonally adjusted basis, following a 0.4% increase in September. This stability comes amid a mix of rising shelter costs and declining energy prices, particularly in gasoline. Over the last year, the all […]
Power Nickel Hits 19.5 Metres of 0.57% Nickel, 0.81% Copper At Nisk Main
Assay results for a major step out hole and the first hole of the current drill program have been released by Power Nickel (TSXV: PNPN). The step out was conducted 300 metres to the south and east of previous drilling.
Stellantis to Trim Workforce, Offers Buyouts Amid Industry Shift to Electric Vehicles
Stellantis (NYSE: STLA), the parent company of Chrysler, is initiating a new round of cost-cutting measures in response to challenging market conditions and the industry’s shift towards electric vehicles. Approximately half of the 12,700 nonbargaining unit US employees with five or more years of employment, totaling 6,400 employees, will be offered voluntary separation packages. This […]
Zuckerberg ‘Catching Up on Video Games’ Weeks Before Launch of Xbox Pass on Meta Quest 3
Meta (Nasdaq: META) CEO Mark Zuckerberg is currently recovering from an ACL injury and has let Threads users in on a rare personal glimpse into his life outside of work when he posted about catching up on video games. But, as threads user Bermuda Hills Co points out, this post may not be as outside […]
No, the ‘Home Alone’ House Was Not a Typical Family Home in 1990
We’ve been in an affordability crisis for so long that people are getting so desperate for home ownership and nostalgic for what it used to mean that they’re ready to believe that the iconic McCallister home in the 1990 movie Home Alone is a median family home that sold for $250K. Economist Jeremy Horpedahl unpacks […]