Sponsored by Power Nickel

Cost of Living Crisis

A recent survey conducted by Nanos Research reveals a growing pessimism among Canadians regarding the future standard of living.

The poll, which involved 1,043 participants across Canada, shows that 70% believe the next generation will experience a lower quality of life compared to the present. This marks the highest level of pessimism since the survey began tracking this sentiment.

You can read more on the matter here.

What’s going on?

• South Korean Authorities Shut Down Lithium Battery Plant After Fatal Fire (theDeepDive)

• Canada’s sanctions list has grown in recent years, but experts criticize performative approach (Globe)

• Is Your Chinese-Made EV Spying on You? Canada Weighs Security Concerns (theDeepDive)

• McDonald’s Says Plant-Based Test Didn’t Pan Out in US (Bloomberg)

• Bolivia: Coup Fails After Leader Gets Arrested By His Own Men After They Learned He’s Plotting A Coup (theDeepDive)

• NASA taps Elon Musk’s SpaceX to bring International Space Station out of orbit in a few more years (APN)

• Italy bans lab-grown meat in nod to farmers (BBC)

• U.S. State Department Confirms Death of Embassy Attaché in Ukraine (theDeepDive)

• SpaceX Tender Offer Said to Value Company at Record $210 Billion (Bloomberg)

• North Korea Forge Alliance With Russia, To Deploy Units In Ukraine (theDeepDive)

• Bolivian police arrest leader of apparent coup attempt (BBC)

What’s the latest?

• U.S Job Market: First-time applications for U.S. unemployment benefits fell by 6,000 to 233,000 for the week ending June 22, according to the Labor Department. This decrease may ease concerns about a significant shift in the labor market, despite the recent volatility around the new Juneteenth holiday. Economists are divided on whether the rise in claims indicates increasing layoffs or is a repeat of last year's volatility. Continuing claims, a hiring proxy, rose by 18,000 to 1.839 million for the week ending June 15. The jobless rate increased to 4.0% in May, the first rise since January 2022.

• Boeing: The U.S. National Transportation Safety Board has sanctioned Boeing for disclosing non-public details of an ongoing investigation into a January 5 mid-air emergency involving a 737 MAX. Boeing violated NTSB regulations by sharing speculative information with the media about the incident, which involved the blowout of a door plug on an Alaska Airlines flight. This violation has exacerbated tensions between Boeing and government agencies, particularly as the company faces potential criminal charges from the Department of Justice.

• ETH ETFs: The U.S. Securities and Exchange Commission might approve exchange-traded funds linked to the spot price of ether by July 4, according to industry insiders. Eight asset managers, including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking approval, following their successful launch of spot bitcoin ETFs in January. These discussions are in the final stages, with only minor issues left to resolve. Once approved, the ETFs could start trading within 24 hours.

• AI Medicine: SoftBank Group has launched a joint venture with Tempus AI to analyze personal medical data using AI for treatment recommendations, CEO Masayoshi Son announced in Tokyo. This collaboration is part of SoftBank's recent series of AI investments, following a quiet period. In April, SoftBank invested $200 million in Tempus during its Series G funding round before Tempus went public on Nasdaq in June. Tempus specializes in genomic testing and AI-driven treatment and clinical trial recommendations in the U.S., utilizing a vast database of patient records. The joint venture aims to introduce these services to Japan, marking the first expansion outside the U.S. Both companies will invest 15 billion yen ($93 million) each into the venture, expected to finalize in July. Despite these developments, Tempus' share price fell from its initial public offering price of $37 on June 14 to $27.50 on June 26.

• Open AI: Time magazine has entered a multi-year content deal with OpenAI, allowing the AI company access to its news archives. ChatGPT will use this content to respond to user queries, citing and linking back to Time.com. The financial details of the agreement remain undisclosed. This partnership is part of a broader trend, with OpenAI securing similar deals with the Financial Times, Axel Springer, Le Monde, and Prisa Media. Despite some media companies like the New York Times and The Intercept suing OpenAI over the use of their journalism, these collaborations are vital for training AI models and present profitable opportunities for news publishers. In May, OpenAI also partnered with The Atlantic and Vox Media for content and product integration.

Copper asset acquisition with Mathew Wilson

The stock market and stuff

• Amazon to launch discount section with direct shipping from China (Reuters)

• Walgreens' shares plunge on outlook cut, more store closings (BNN)

• H&M plunges 13% on doubts over full-year margin target, June sales outlook (CNBC)

In the juniors

• Sterling Metals Advances Exploration at Copper Road Project (theDeepDive)

• New Pacific Metals Reports After-Tax NPV(5%) Of $740 Million For Silver Sand Project (theDeepDive)

• Premium Nickel Resources Assays 52.45 metres of 2.02% NiEq or 3.59% CuEq At Selebi North (theDeepDive)

FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Power Nickel. The author has been compensated to cover Power Nickel on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.