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 […]
Singapore Authorities Seize S$1 Billion in Assets in Major Money Laundering Probe
In a sweeping operation, Singaporean law enforcement agencies have confiscated assets worth about S$1 billion (US$736 million) in connection with a major investigation into money laundering and forgery. Ten individuals, aged 31 to 44, were charged on Wednesday night as part of the inquiry, which has been described as one of the largest police probes […]
US Shale Well Output Decline Breaks Records, Breakeven Prices Will Rise: Report
In its latest analysis, Enverus research firm reveals that the decline in output from US shale wells has taken a more severe turn than initially projected, compelling oil drillers to adopt intensified measures to prevent further production decreases. Over the past decade, US shale wells experienced a twofold increase in crude extraction; however, Enverus’ findings […]
University of Chicago First To Settle “Price-Fixing Cartel” Case, Pays $13.5 Million
In a groundbreaking development, the University of Chicago has taken the lead among 16 prestigious institutions in resolving allegations related to a controversial financial aid practice. In January 2022, a lawsuit was filed by five former undergraduate students hailing from Duke, Northwestern, Vanderbilt, and other institutions against 16 schools including UChicago, Yale, Brown, and Northwestern. […]
Liquid Death’s 2024 IPO Plans Could Be Canned As Short Sellers Await Market Debut
Liquid Death, the canned water enterprise known for its distinctive ‘murder your thirst’ tagline, tapped into the expertise of Goldman Sachs last month as it explores the potential for an upcoming initial public offering (IPO), with a potential target of spring 2024. But in its public market debut, as it looks to raise funds through […]
Aston Bay Reports 18.5 Metres Of Visual Copper Sulfide In Fourth Hole At Storm Copper Project
Aston Bay Holdings (TSXV: BAY) is claiming this morning that it has intersected additional visual copper sulfide mineralization at its ongoing drill program at the Storm Copper Project, found on Somerset Island in Nunavut. The intercept, conducted by project operator American West Metals, is said to be the fourth such intercept of visual mineralization. The […]
Canopy Growth Sells Flagship Hershey Drive Facility In Smith Falls
Canopy Growth (TSX: WEED) has sold off an iconic facility in its efforts to drive towards an asset-light operating model. The company has sold what was once its flagship facility, the Hershey Drive facility, located in Smith Falls, Ontario. The facility has been sold to that of Hershey Canada, for a total cash figure of […]
GM Leads $60-Million Funding Round For Mitra Chem Aimed At Making EV Batteries Cheaper
General Motors (NYSE: GM) has spearheaded a $60 million Series B funding round for Mitra Chem, a pioneering battery materials startup, of which the first $40 million has closed. The collaboration is set to pave the way for the creation of more accessible and cost-effective electric vehicle (EV) batteries. In collaboration with GM, Mitra Chem […]
The Rolex Index Is Still Falling: Economic Uncertainties Impact Demand
Luxury Swiss watch prices have seen a significant decline, with prices at a two-year low on the secondary market. Brands like Rolex, Patek Philippe, and Audemars Piguet are experiencing a drop in prices after reaching record highs in early 2022. The Bloomberg Subdial Watch Index, which monitors the value of the top 50 pre-owned luxury […]