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Foreign buyer ban appears to have had an impact.

Despite the loosely assembled mechanics of the ban on foreign ownership of Canadian housing, it can’t be argued that the recently implemented law had no impact – despite what a recent Reuters article claims. What can be argued is the intention of implementing such measure, whether it was to serve a political agenda or feebly address the growing housing crisis.

But data would point out that the enactment of such a ban had a significant effect in the decline of foreign homeownership.

You can read more on the matter here.

What’s going on?

• Sweden Wants To Lift Ban On Mining Uranium (theDeepDive)

• NATO countries scramble to deny ground troops will go into Ukraine after Moscow warns of ‘inevitable’ conflict (CNBC)

• US Sanctions Canada-Based Sandvine For Enabling ‘Mass Web-Monitoring And Censorship’ In Egypt (theDeepDive)

• Oil prices fall as Biden signals Gaza ceasefire is possible by next Monday (CNBC)

• Orano’s $1.6B Mongolia Uranium Project in Limbo Over Political Tensions (theDeepDive)

• Morocco Looks to World Cup to Fuel Planned 80% Boost in Tourism (Bloomberg)

• UAE Basically Buys Coastal Egyptian City for $35 Billion (theDeepDive)

• Odysseus moon lander likely has 10 to 20 hours of battery life left (Reuters)

• Market Shrugs At Libya’s Temporary Pipeline Shutdown (theDeepDive)

• FCC commissioner makes admission over political bias, ideology that 'permeates Silicon Valley' (FOX)

• BMO Reports 22.8% Of Residential Mortgage Book Is In Negative Amortization (theDeepDive)

What’s the latest?

• Durable Goods Drop: U.S. durable goods orders dropped by 6.1% in January, marking the largest decline since April 2020, with civilian aircraft orders falling by 58.9%. This decrease in orders contributed to an overall 16.2% reduction in transportation orders, while excluding transportation, orders dipped by 0.3%.

• Macy’s Closures: Macy's has announced plans to close about 150 stores by 2026, aiming to save $100 million in costs this year, even as it forecasts annual sales and profit below market expectations. The closures, which represent less than 10% of its annual sales, target mostly underperforming mall-based stores. This strategy, part of a broader cost-cutting initiative that includes the elimination of 2,350 jobs, is expected to enhance the retailer's sales productivity and profitability.

• Bitcoin Surge: Bitcoin's value has surged over 10% in two sessions, reaching a two-year high of $57,232, fueled by MicroStrategy's purchase of 3,000 bitcoins and the approval of Bitcoin-owning ETFs in the U.S. Ether also hit a high of $3,290, its highest since April 2022. The upcoming Bitcoin halving event in April, which will cut the mining reward in half, is adding to the momentum, with Bitcoin achieving a 32% gain in February alone.

• Foreign Student Concentration: The data obtained by CBC News through access to information requests shows just 10 public colleges account for nearly 30% of all study permits issued in the country over the past three years. Additionally, twelve Ontario public colleges have at least tripled their annual permit numbers since 2018.

• Moon Landing: The Odysseus moon lander, the first U.S. spacecraft to land on the moon since 1972, has an estimated 10 to 20 hours of battery life remaining as flight controllers maintain contact. Texas-based Intuitive Machines, which NASA contracted for $118 million to construct and deploy the lander, reported that despite a sideways landing that may shorten its operational timeline, the lander has successfully transmitted science data and imagery.

Brazil’s lithium boom

The stock market and stuff

• Hut 8 Changes Strategy, Bitcoin Now To Be Used To Fund Growth (theDeepDive)

• Shein's IPO backup plans can unravel (Reuters)

• Macy’s to Close 150 Stores in Latest Turnaround Bid (WSJ)

• Goldman Sachs CEO says firm to raise ninth private equity fund (Reuters)

• A Deep Dive On Berkshire Hathaway’s Annual Letter (theDeepDive)

In the juniors

• PharmaDrug Names Dr David Kideckel As Chairman, While SecureDose Finalizes Formulation (theDeepDive)

• Nevada Lithium Hits 207 Metres Of 4,154 ppm Lithium (theDeepDive)

• Market Movers: Contact Gold Jumps On Acquisition News While Orla Mining Falls (theDeepDive)

• ATHA Energy Bolsters Business Development Team (theDeepDive)

FULL DISCLOSURE: Anfield Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Anfield Energy. The author has been compensated to cover Anfield Energy 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.