More Toronto Under-Construction Homes Burn Down
Continuing the bewildering trend of under-construction homes in Toronto catching fire, a massive inferno ravaged 35 residences this past Sunday, laying waste to a valuable piece of firefighting equipment in its wake. The alarm was sounded at approximately 4 a.m. as firefighters raced to Simmons Street, located in the vicinity of Highway 27 and Rutherford […]
Organigram Sees BAT Plan To Increase Stake To 45% With $124 Million Investment
While Canopy Growth (TSX: WEED) may have lost the interest of its major investor Constellation Brands (NYSE: STZ), Organigram Holdings (TSX: OGI) has managed to strengthen ties and receive further investment from its major investor. Organigram this morning revealed a deal for a $124.6 million strategic investment from BAT (NYSE: BTI), which is a follow-on […]
Sonoro Energy Set To Spud Its First Well This Month
Sonoro Energy (TSXV: SNV) is moving towards becoming the newest junior oil operator on the markets, announcing this morning that it has secured the necessary permits from the Saskatchewan Minister of Energy and Resources to begin drilling. With the license in hand to drill its first well, the company has also secured a drill rig […]
China Bans Officials from Private Equity Investments Amid Anti-Corruption Drive
The Chinese Communist Party has issued a directive instructing its officials to refrain from investing in private equity funds. This move, aimed at mitigating corruption risks, was reported by state media this past week. The ban specifically targets mid- to high-level officials within the party and focuses on domestic Chinese private equity funds requiring a […]
Constellation Brands Lets Canopy Growth Warrants Expire Unexercised
Constellation Brands (NYSE: STZ) appears to have walked away from the idea of investing further dollars into Canopy Growth (TSX: WEED). The company on Wednesday saw its Tranche A warrants held in the company expire, ending future investment opportunities in the company under its original investment agreement from 2018. As of November 1, 88.5 million […]
Musk Reveals ChatGPT Competitor, xAI Grok, And It’s Already Provided Fake Information
Elon Musk on Friday night unveiled what is referred to as xAI’s Grok system, which has been designed as a competitor to OpenAI’s ChatGPT. The reveal follows the launch of “AI generated” “see similar” posts that began appearing on X on Thursday. While Musk refers to the Grok system as “the best that currently exists,” […]
Real Estate Investors Are Now Realizing They Are The Target Of Short-Term Rental Act
The recent legislative move in British Columbia to ban short-term rentals in secondary investment properties has sparked concerns among local businesses and investors, who believe the decision could lead to unforeseen consequences, with potentially limited benefits in terms of affordable housing. BC Premier David Eby and Housing Minister Ravi Kahlon unveiled the Short-Term Accommodations Act […]
Tesla Hit By First Strikes In Company History
Tesla (NASDAQ: TSLA) has been hit by the first strike in company history. The company has seen workers in Sweden begin a strike under the direction of the IF Metall industrial labor union. The strike follows five years of unsuccessful negotiations with TM Sweden, the automakers Swedish subsidiary. Most recently, TM Sweden and IF Metall […]
Citizens Bank, Sac City, Fifth Bank In The US To Be Shuttered This Year
It appears that we are not yet in the clear when it comes to bank closures. Citizens Bank, Sac City, Iowa, on Friday was the latest to be shut down by regulators, which follows a number of high profile banks that were shut down in the first half of this year, including Silicon Valley Bank, […]
DraftKings Smashes Expectations In Third Quarter, Jumps 16%
On Thursday after the market closed DraftKings Inc. (NASDAQ: DKNG) reported better than expected 3Q 2023 financial results, while boosting its full-year 2023 revenue and adjusted EBITDA guidance. The company’s revenue reached US$790 million in the quarter, up 57% from US$502 million in 3Q 2022, and well ahead of the analysts’ consensus 3Q 2023 estimate of about […]