Are the “Rich” Selling Their Luxury Gear (and Tanking the Markets)?
In 2022, the Rolex resale market peaked at an average price of over $60,000 as more people were getting more money and wanted something to show for it. These days, prices in the secondhand market are at a two-year low. Insiders are calling the price drop a “happy, healthy correction” following a rapid and unsustainable […]
US Congressman Leads Charge In Preventing The Fed To Develop CBDC
US Congressman Tom Emmer has introduced a significant new bill aimed at preventing the Federal Reserve (Fed) from developing a Central Bank Digital Currency (CBDC). Dubbed the “Central Bank Digital Currency Anti-surveillance State Act,” this proposed legislation seeks to establish a critical safeguard against unchecked bureaucratic power while emphasizing the values of privacy, individual sovereignty, […]
Olymel Announces Massive Closures Of Food Production Facilities
Olymel, a prominent player in the meat production and processing industry, is implementing significant changes to address ongoing market challenges. The company has announced the closure of two plants in Quebec and Ontario while expediting the shutdown of another facility, affecting approximately 400 employees. In a press release, Olymel stated that these closures are part […]
FTX Examining Potential Retail Clawback After Getting Court Nod To Sell Crypto Assets
FTX, the cryptocurrency exchange that filed for bankruptcy in November 2022 amidst allegations of misusing and losing billions in customer crypto deposits, achieved a significant milestone on Wednesday. In a court hearing held in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey granted FTX the crucial permission to liquidate its cryptocurrency assets. The move is aimed […]
Justin Trudeau Drops GST From New Rental Builds
In an upcoming announcement, Prime Minister Justin Trudeau is set to declare the removal of the GST on the construction of new rental apartment buildings. According to a source familiar with the matter cited by CTV News, the idea is to make labour and materials cheaper for homebuilders, and is part of Trudeau’s forthcoming statement […]
Georgia Governor Suspends Gas and Diesel Taxes Amid Rising Fuel Costs
In response to the ongoing surge in fuel costs, Georgia Governor Brian Kemp signed an executive order on Tuesday to suspend state taxes on gasoline and diesel fuel temporarily. The tax suspension, which amounts to 31.2 cents per gallon on gasoline and 35 cents per gallon on diesel fuel, will take effect starting Wednesday and […]
Canada Sees Sharp Drop in Permanent Resident Applications in July
Do people still even want to move to Canada? Recent data from the Government of Canada (GoC) has revealed a significant decline in permanent resident applications, raising concerns about the sustainability of Canada’s population growth. In July, the number of permanent resident applications plummeted by 15%, totaling around 17,800, marking a 28% drop compared to […]
SoftBank-Backed Chip Designer Arm Launches $54-Billion IPO
Arm, the chip design firm that plays a pivotal role in the technology ecosystem, providing core technology to tech giants like Apple and Nvidia, has successfully priced its much-anticipated initial public offering (IPO) at $51 per share. This move catapults Arm’s fully diluted market capitalization, taking into account restricted stock units, to an impressive $54 […]
Biden Wants To Change The Mining Law So Firms Would Pay 4%-8% Royalty On Minerals Extracted On US Lands
The Biden administration is advocating for substantial changes to a century-old mining law, dating back 151 years, that oversees the extraction of copper, gold, and other hardrock minerals on federally-owned lands within the United States. One notable shift includes the introduction of royalties on mineral extraction by companies operating on federal lands, a precedent that […]
Canopy Growth Places BioSteel Sports Division Into Bankruptcy Proceedings
Canopy Growth (TSX: WEED) has placed its BioSteel division into bankruptcy proceedings under the Companies Creditors Arrangement Act in the Ontario Superior Court of Justice. The company has also move to seek recognition of the proceeding under Chapter 15 of the US Bankruptcy Code to give full force and effect to the orders in the […]