Sponsored by Sterling Metals

Costco goes platinum

Costco (NASDAQ: COST), known for its bulk deals on everything from toilet paper to snacks, has taken another step in its growing portfolio of precious metals. Following the soaring success of its gold and silver sales, the retailer announced on Wednesday that it will begin selling 1-ounce platinum bars, with the first bars going for $1,089.99 each.

Additionally, the company is offering a 1-ounce Canada Maple Leaf platinum coin at the same price. These new products will be available exclusively online and cannot be shipped to Louisiana, Nevada, or Puerto Rico, according to Costco’s terms.

You can read more on the matter here.

What’s going on?

• Canada’s Economy Falls Behind as US Surges Ahead (theDeepDive)

• Rate cuts to smooth over the ‘mortgage renewal cliff’ awaiting pandemic homebuyers (Globe)

• Heritage Minister Set to Unveil CBC Modernization Plan and Maybe A New CEO (theDeepDive)

• US job growth blows past expectations, unemployment rate falls to 4.1% (Reuters)

• X-Ray Vision Is Here … And It’s More Disturbing Than You Think (theDeepDive)

• Jeep Parent Stellantis Taking ‘Drastic Measures’ to Conserve Cash (WSJ)

• Russia Plans to Maintain Precious Metals Spending, Resume Palladium Purchases (theDeepDive)

• US yields jump on jobs numbers as chances fade of bumper interest rate cut (FT)

• NC Supreme Court Allows Out-of-State Lawyers to Assist Hurricane Helene Victims (theDeepDive)

• Supreme Court upholds air passenger compensation rules in landmark decision (Globe)

• Appeals Court Rejects CFTC Bid to Halt Political Betting Markets (theDeepDive)

• Shein’s elusive founder holds pre-IPO investor meetings in London (FT)

What’s the latest?

• Port Strike: The three-day strike by U.S. port workers on the East Coast and Gulf Coast has ended after union leaders and port representatives reached a tentative framework for a new six-year deal. A major sticking point—worker compensation—resulted in a significant 62% wage increase over the contract period. The union has agreed to suspend the strike until at least January while negotiations continue on other outstanding issues.

• 7-Eleven: Seven & i Holdings Co. has approached potential buyers for its Ito-Yokado stores and supermarkets as part of a restructuring effort following a takeover approach from Canada's Alimentation Couche-Tard Inc. The sale of assets, which could fetch between ¥320 billion to ¥430 billion ($2.2 billion to $2.9 billion), is aimed at narrowing the company’s focus on its 7-Eleven convenience store business. Discussions are still at an early stage, and Seven & i may retain a minority stake.

• Airlines: The Supreme Court of Canada has upheld regulations that strengthen compensation rights for air passengers facing delays, cancellations, or damaged luggage on international flights. The court dismissed an appeal by airlines which had challenged the Air Passenger Protection Regulations, claiming they conflicted with international rules under the Montreal Convention. Passengers can now receive compensation up to $2,400 for overbooking, $1,000 for delays and cancellations, and $2,300 for lost or damaged baggage.

• US Jobs: In September, U.S. job gains surged by 254,000, the largest increase in six months, while the unemployment rate fell to 4.1%. The better-than-expected rise in nonfarm payrolls, coupled with solid wage growth, points to a resilient economy. Revisions to previous months added 72,000 more jobs than initially reported.

• China Tariffs: The European Union plans to impose tariffs of up to 45% on China-made EVs, despite opposition from Germany, in a move aimed at countering what the EU sees as unfair Chinese subsidies. The proposed tariffs, set to last five years, have garnered enough support from EU member states, with backing from countries like France, Italy, and Poland. However, Germany and some other nations are concerned about potential retaliatory measures from China

The truth about Canada's TFW program

The stock market and stuff

• Are We On Our Way to $40 Silver? Prices Surge 34% YTD (theDeepDive)

• Rivian shares fall after EV maker slashes production forecast, misses Q3 delivery expectations (CNBC)

• China's BingEx opens flat in Nasdaq debut (Reuters)

• OpenAI Secures Record $6.6 Billion Funding, Seeks Investor Exclusivity (theDeepDive)

• Meta announces new AI model that can generate video with sound (Globe)

• CVS is under pressure and considering a breakup. Here’s why that could be risky (CNBC)

In the juniors

• Arht Media Latest Small Cap Firm To File For Bankruptcy (theDeepDive)

• Coeur Mining To Acquire SilverCrest For $1.7 Billion (theDeepDive)

• James Bay Resources Attempts To Sue Wynn Resorts After Investing In A Conman (theDeepDive)

• Rua Gold Begins Exploration At Glamorgan, Identifies Epithermal Gold System (theDeepDive)

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