Politics

Inflation hits Canadian steelworkers and loggers

Shares of Canadian mining, steel and timber companies have lost all of this year's gains. The Bank of Canada's tightening policies and record inflation since 1983 are slowing demand in the economy for raw materials.

"Rates are rising, and that will hit all cyclical industries," said Stifel Canada managing director and portfolio strategist James Hodgins. Also, rising mortgage rates have led to a drop in lumber demand because of low demand for new homes.

Hyundai has released a "copy" of the Tesla - Reuters

Hyundai Motor Co. on Thursday unveiled its first electric sedan, the Ioniq 6. The South Korean automaker expects the electric car to help it capture a larger share of the EV market, including poaching Tesla customers.

Bank of America has no plans to offer crypto services

BofA CEO Moynihan said that the company will not offer services related to cryptocurrency in the near future. However, he acknowledged the importance of digital payments in today's economy. According to Moynihan, the main obstacle to the crypto industry is regulatory problems. The SEC is suspicious of companies offering cryptocurrency

SEC Warns FTX Against Repaying Creditors in Cryptocurrency: A Detailed Analysis of the Legal and Financial Implications

The recent developments surrounding the now-defunct cryptocurrency exchange FTX have drawn significant attention, especially concerning the United States Securities and Exchange Commission's (SEC) warnings regarding the repayment of creditors in stablecoins and other cryptocurrencies. This issue brings to light the complexities and potential legal battles that could arise as FTX

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