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Boeing engineers warned OceanGate prior to implosion

Documents and expert testimonies have allegedly surfaced revealing significant concerns raised by engineers involved in the design of OceanGate’s Titan submarine. The revelations come after a catastrophic incident that resulted in the implosion of the submarine, designed to explore the Titanic wreck at depths of nearly 4,000 meters.

A strain chart allegedly sent by one of the Boeing engineers, hired initially for the structural design of OceanGate’s carbon fiber submarine, has been brought to light. The chart shows critical strain points and includes a skull and crossbones icon at the depth of the Titanic wreck, indicating a severe risk of failure. This chart and the associated data underscore the dangers that were present in the Titan’s design.

You can read more on the matter here.

What’s going on?

• US Sanctions Drives Insane Spreads In Ruble / Dollar Transactions (theDeepDive)

• Wells Fargo fires more than dozen employees for allegedly faking work (Reuters)

• EU Imposes Tariffs on Chinese Electric Vehicles Up To 38% (theDeepDive)

• President Joe Biden faces first lawsuit over new asylum crackdown at the border (Globe)

• Quebecor Goes After Loblaw’s Partnership With Bell And Rogers: “Major Cause Of Concern” (theDeepDive)

• Canada contributing $5 billion to new G7 deal being finalized to help Ukraine using frozen Russian assets (CBC)

• Suez Canal Revenues Plummet Amid Red Sea Instability (theDeepDive)

• OpenAI Doubles Annualized Revenue to $3.4 Billion (Bloomberg)

• Deutsche Börse CEO Says Germany Is ‘Becoming A Developing Country,’ Calls Stock Market ‘A Junk Shop’ (theDeepDive)

• G7 summit: Frozen Russian assets to fund multibillion-dollar loan to Ukraine (Globe)

• Largest US oil trade group sues to block Biden's EV push (Reuters)

What’s the latest?

• Carbon Tax Cost: The federal government has released an analysis by Environment and Climate Change Canada on the economic impact of carbon pricing. The modelling indicates that without carbon pricing, Canada's emissions would be nearly 11% higher by 2030, amounting to approximately 80 million tonnes of greenhouse gas emissions. However, carbon pricing is projected to reduce national GDP, with figures showing GDP would be $2.68 trillion in 2030 without carbon pricing, compared to $2.66 trillion with it.

• Corus Worthless: Corus Entertainment Inc.'s shares may become worthless if Rogers Communications Inc. succeeds in acquiring Canadian rights to key channels from Warner Bros Discovery Inc., analysts at TD Cowen warned. A recent agreement between Rogers and Warner, threatens Corus' annual revenue of about $155 million and $50 million in earnings before interest, taxes, depreciation, and amortization.

• Major Investment: Pembina Pipeline Corp. plans to make its final investment decision on the proposed Cedar LNG floating gas-export project in British Columbia within two weeks. The US$4 billion project is expected to be financed with 60% debt and 40% equity, with partners Haisla Nation and Pembina each contributing 20% of the equity.

• Amazon Targeted: A Federal Court order requires Amazon to provide internal records related to its review and ratings programs to Canada's Competition Bureau. Issued by Chief Justice Paul Crampton, the order mandates Amazon to share records prepared for senior management, consumer complaints, and information on verified purchase and top reviewer badges. The Bureau is investigating potential "abuse of dominance" by Amazon.

• NDP Excess: NDP MP Niki Ashton billed the House of Commons $17,641.12 for a trip during the Christmas holidays in 2022, claiming it was for meetings with stakeholders, despite the House having already adjourned. Ashton, her partner, and their two children traveled from Thompson, Man., to Ottawa and then to Quebec City. Social media posts showed the family enjoying holiday attractions, while Ashton stated she was discussing language priorities as part of her role as the party's critic for official languages.

The future of copper and silver with Craig Parry

The stock market and stuff

• Citron Research Exits GameStop Short Position, Says It Respects ‘Market’s Irrationality’ (theDeepDive)

• Wise shares plunge 10% after fintech firm projects slower growth this year (CNBC)

• Uranium Energy Corp Increases Burke Hollow Resource To 6.16 Million Pounds U3O8 M&I (theDeepDive)

• Tesla shares up after Elon Musk says he is set for victory in $56 billion pay vote (CNBC)

• National Bank of Canada Announces $5-Billion Purchase Of Canadian Western Bank (theDeepDive)

In the juniors

• Indiva Files For Creditor Protection, Assets Expects To Be Picked Up By SNDL (theDeepDive)

• Homerun Resources gains on deal to acquire silica mineral rights in Brazil (SA)

• enCore Energy Begins Uranium Production At Alta Mesa (theDeepDive)

FULL DISCLOSURE: Golden Cariboo Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is long the equity of Golden Cariboo Resources. The author has been compensated to cover Golden Cariboo Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.