Lucid Posts Weak U.S. Vehicle Registration Data In July
Despite reassuring comments regarding customer demand expressed by Lucid Group’s (NASDAQ: LCID) CEO throughout much of 2023, hard data continues not to back up such rhetoric. The most recent example is U.S. vehicle registration data compiled by Automotive News. In July, U.S. customers registered only 348 Lucid Air models, down 40% from a monthly average of […]
US Supports Nuclear Power Expansion in Europe, Launches NEXT Program
At the recent Three Seas Initiative Summit in Bucharest, Romania, US special presidential envoy for climate, John Kerry, announced significant actions aimed at advancing the role of new nuclear technologies in driving the clean energy transition in Europe. Kerry’s announcement, made during a side event, was part of the United States’ commitment to expanding clean […]
Surge Battery Metals Reports Promising Drill Results At Its Nevada North Lithium Project
Over the last two weeks, Surge Battery Metals Inc. (TSXV: NILI) has begun reporting what might be described so far as encouraging results from its much-anticipated second round of drilling at its 100%-owned Nevada North Lithium Project (NNLP). The early results of the 2023 drilling program, together with the eight-hole 2022 program, continue to compare favorably with […]
Canada’s Housing Crisis: New Projections Show Increased Supply Gaps in Key Provinces
The CMHC recently updated its June 2022 Supply Gaps Estimate (SGE) report that assesses the quantity of additional housing necessary to revert affordability to its 2004 standard by the year 2030 and spoiler alert: Canada still has a long way to go before housing demand and supply reach equilibrium. Notably, the national supply gap still […]
Canadian Home Sales Dip in August as Recent Rate Hike Spikes Affordability Concerns
Canadian home sales slumped in August as the Bank of Canada’s recent rate hike heightened affordability concerns. According to data from the Canadian Real Estate Association (CREA), national sales dipped by 4.1% from July, but were up by 5.3% compared to the same period one year ago. Interestingly, newly listed properties showed a minor increase […]
Russia Has Billions Stuck in Indian Banks
Billions in profits from Russian oil sales have become trapped within Indian banks, delivering a significant setback to President Vladimir Putin’s efforts to reduce reliance on the U.S. dollar in international trade. Traditionally, commodities like oil, gold, and wheat are traded globally using the U.S. dollar, which serves as the world’s primary reserve currency. However, […]
The Canadian Banking Oligopoly
When the Bank of Canada paused its overnight rate last week at five percent, it followed some very public lobbying by the premiers of BC and Ontario, who don’t like their respective provinces’ economies’ chances under a tight and tightening rate environment. The official reason for the pause was an unexpected Q2 contraction in GDP […]
China’s Surging Youth Unemployment Prompts Beijing to Halt Data Series
China, the world’s second-largest economy, is showing signs of a rebound, challenging the prevailing pessimism from Wall Street that the communist country is headed for a major financial slump. Recent data for August indicates a positive shift in China’s financial landscape, as retail sales rose 4.6% in August, surpassing expectations of 3.0% and a previous […]
BMO Reportedly Closes Down Its Auto Finance Division
After rumors circulated yesterday on social media, there are further reports that the Bank of Montreal (TSX: BMO) is exiting the retail auto finance business. A letter that was sent to an auto dealer related to a dealer agreement has been leaked to social media, indicating that the major Canadian bank is exiting the segment. […]
California Senate Approves Bill Granting Unemployment Benefits to Striking Workers
California’s Senate has passed a significant bill, Senate Bill 799, that would grant striking workers in the state access to unemployment insurance benefits of up to $450 per week. The bill, which was approved by a vote of 27-12, had previously been passed in the state Assembly and now awaits the decision of Governor Gavin […]