Toronto’s Answer To Financial Crisis: More Taxes
In response to an unprecedented financial crisis, Toronto is considering a move to alleviate a projected $46.5 billion budget strain over the next decade. The proposed measure includes a municipal sales tax, which forms a crucial component of a comprehensive plan unveiled in a long-awaited staff report released on Thursday. The plan’s cornerstone is the […]
Air Canada Gets Caught Trying to Profit Off of Yellowknife Evacuation
Earlier this week, the city of Yellowknife declared a state of emergency and subsequently issued an evacuation order for its approximately 20,000 residents, in response to the advancing wildfires. The authorities in the Northwest Territories, where Yellowknife is situated, set a deadline of noon on Friday (18:00 GMT) for the evacuation to be completed. The […]
James O’Keefe Under Probe For Financial Misconduct, Project Veritas Fires Almost All Employees — Reports
James O’Keefe, formerly CEO of the conservative nonprofit Project Veritas, is currently the subject of an investigation by the Westchester County District Attorney’s Office. The investigation, prompted by allegations of financial improprieties during O’Keefe’s tenure as chairman and CEO, has gained public attention. Although the specific details of the inquiry remain undisclosed, the timing suggests […]
Bitcoin At A Two-Month Low Following SpaceX Selloff, Liquidations, Regulatory Issues
Bitcoin witnessed a rapid decline of 7% within a mere 20 minutes on Thursday, momentarily dipping below the $26,000 mark. The ripple effect extended across the cryptocurrency realm, including Ethereum, which experienced a cascade of liquidations totaling a staggering $800 million. The dominant cryptocurrency by market capitalization closed on Thursday at $26,627.50. At its lowest […]
Molson Coors Exits Cannabis Business With Divesture Of Truss Beverage Co To Tilray Brands
It appears that Molson Coors (NYSE: TAP) no longer wishes to be associated with cannabis in any form. It was announced this morning that the company has sold its interest in Truss Beverages, a joint venture it initially entered into with Hexo Corp, to that of Tilray Brands (TSX: TLRY). The sale follows Hexo being […]
Codelco: World’s Largest Copper Producer Faces Insolvency Risk Thanks to Rising Debt Levels
Chile’s leading copper producer, Codelco, is finding itself in troubled waters. This is according to a report by Chile’s Centre for Copper and Mining Studies (CESCO), which revealed that the company— the world’s largest copper producer, stands on the brink of insolvency. The primary culprits? Escalating costs and a swelling debt burden due to underperforming […]
Canadian Homebuilders Face Headwinds: Interest Rates, Labor Gaps, and the Urgent Need for More Homes
In a critical period when Canada needs to ramp up its housing production, the construction industry appears subdued. According to the Canadian Home Builders’ Association (CHBA), 22% of Canadian homebuilders canceled projects entirely in Q2 2023 due to daunting high interest rates, and even though there was a slight rise in the construction of both […]
Vietnamese Automaker VinFast Debuts On Nasdaq With Valuation Higher Than BMW, Ford, GM
VinFast Auto Ltd. (Nasdaq: VFS), a Vietnamese electric-vehicle manufacturer, has taken the market by storm with its public debut, propelling its market capitalization to exceed that of industry giants General Motors Co., Ford Motor Co., and BMW. Traders eagerly embraced shares of VinFast as they surged in value, marking a significant milestone for the company’s […]
Warren Buffet-Backed Occidental Petroleum To Acquire Carbon Engineering For $1.1 Billion
Occidental Petroleum Corp. (NYSE: OXY), backed by Warren Buffett, has announced its acquisition of Canadian startup Carbon Engineering Ltd. for a sum of $1.1 billion. The agreement, pending regulatory approvals, is anticipated to be finalized by the end of the year, with Occidental making the payment in cash. The collaboration between Occidental and Carbon Engineering […]
Target’s Losses from Theft Stabilizing, But Violent In-Store Incidents Remain On the Rise
Target (NYSE: TGT) announced on Wednesday that it is seeing signs of stabilization in the losses caused by theft and organized retail crime, following a significant spike in the first half of the year. The company’s shares surged by 3.5% to $129.40 in afternoon trading after reporting better-than-expected second-quarter profits. Earlier this year, Target issued […]