Author: Alexander Lee

Swedish telecom-equipment manufacturer Ericsson AB has finalized a $1 billion agreement to divest its US call-routing business, Iconectiv, to a private investment arm of Koch Inc. After accounting for taxes, transaction costs, and other liabilities, Ericsson anticipates receiving approximately 10.6 billion kronor ($1 billion) in cash as a result of the acquisition by Koch Equity Development. The transaction is scheduled to be completed in the first half of 2025 and is expected to generate one-time earnings of around 8.8 billion kronor. Facing challenges in the telecom-equipment market, Ericsson has been focused on cost reduction and margin enhancement. Alongside its Nordic…

Amazon Inc. recently informed its Flex drivers, who deliver packages using their own vehicles, that there may be a delay in the payments they were expecting to receive on Thursday. This unexpected message caused concern among the drivers, who are accustomed to receiving prompt payment upon completing a route. The initial communication from Amazon did not provide details about the issue or an estimated timeline for resolution, further exacerbating the worries of the affected Flex drivers. The message stated, “We’re contacting you because your payment scheduled for 15 August 2024 may be delayed. We are actively working on this issue…

Investors looking to maximize the tax-free growth potential of a Tax-Free Savings Account (TFSA) may consider investing in growth stocks. Over the past decade, growth stocks within the Canadian market have yielded an average annual return of approximately 10 to 12%, surpassing many other asset classes. When these returns are achieved within a TFSA, all gains are completely tax-free, allowing investors to optimize their wealth accumulation. This tax-free compounding feature makes the TFSA an attractive option for holding growth stocks, especially for younger investors with a long-term investment horizon. Let’s explore a couple of stocks that could be promising choices.…

The recent decline in technology stocks after a strong rally fueled by Artificial Intelligence (AI) is not surprising, given the elevated valuations reached this year. Volatility is to be expected as the AI sector matures, but the long-term outlook for the industry remains positive. AI encompasses more than just powerful computer chips and cloud services; it also drives demand for products and services outside the tech industry. Providers of power and fuel necessary to generate electricity will play crucial roles in the expansion of AI services. One company poised to benefit from this trend is TC Energy, which operates extensive…

The latest seismic studies have provided new insights and upgrades to the potential of the Raya prospect. These studies indicate promising developments in the seismic data, shedding light on previously unseen opportunities for exploration and development in the area. The findings suggest that the Raya prospect holds significant potential for future resource extraction, making it a key area of interest for further analysis and evaluation.

Groundwater flowing from Victoria Gold’s (TSXV: VGCX) Eagle mine shows signs of high cyanide contamination, though much of the water is being contained on site and regulated drinking water isn’t at risk, the Yukon government says.Officials from the Department of Environment spoke at a news briefing Friday, sharing results of water testing where groundwater daylights to the surface near the Lower Dublin South Pond at Eagle.  “Concentrations of weak acid dissociable or WAD cyanide at these locations are 10,000 times greater than the long-term water quality guidelines for the protection of aquatic life,” senior groundwater scientist Brendan Mulligan said. “I…

The Chair and CEO of NorthStar, Michael Moskowitz, stated that the company achieved a record quarter with over 60% growth in revenue and gross margin. He emphasized the efficient scaling of the business model, with revenue exceeding expenses, showcasing the potential for further growth. In the second quarter of 2024, key financial highlights included a 61% increase in revenue to $7.5 million, a 41% increase in total wagers at $225.5 million, and a 58% increase in gross gaming revenue to $8.7 million. Gross margin also saw a significant uptick, reaching $3.2 million, representing a 69% increase from the previous year.…

A recent analysis indicates that market indices are anticipating a rate cut in September, reflecting optimism for the economy. The stock market started the week with subdued trading activity, awaiting key inflation data. Despite this, most major indices showed signs of recovery, with the VIX index dropping to 20 on Monday, a significant decrease from the previous week. On Tuesday, the markets opened cautiously optimistic as participants awaited the producer price index (PPI) data. The PPI reported a 0.1 percent increase in July to 2.2 percent, slightly lower than the expected 2.3 percent. Market sentiment improved further on Wednesday with…

The evolving global regulatory landscape surrounding cannabis use presents a promising investment opportunity for investors looking to capitalize on this emerging market. Melodiol Global Health, a key player in the global cannabis industry, strategically operates in both Canada and Australia, where cannabis regulations for recreational and medical use are rapidly evolving. Melodiol oversees various global business units that offer a wide range of products, including recreational and medical cannabis, hemp-based products, athletic supplements, beauty, and personal care items. Additionally, through its subsidiary Halucenex Life Sciences, the company has entered the medical psychedelics market. Noteworthy subsidiaries of Melodiol include Mernova and…

The World Health Organization issued an urgent appeal for assistance this week by declaring the recent outbreak of mpox in Africa as an international health emergency. However, there is limited funding available to effectively combat the potentially dangerous virus. To contain the spread of mpox in the Democratic Republic of Congo and neighboring countries, extensive surveillance, public health education, and vaccination campaigns will be necessary. These efforts are expected to be costly, especially for the impoverished nation at the center of the outbreak. Currently, the WHO has allocated $1.45 million from its emergency fund, while the African Union has approved…