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India's Covert Actions in Canada

As the Royal Canadian Mounted Police (RCMP) continues to investigate the alleged covert operations conducted by Indian government agents in Canada, more revelations are expected to surface. Sources close to the investigation have told CBC News that the recent expulsion of six senior Indian diplomats may be just the beginning, with further diplomatic and non-diplomatic individuals potentially facing action.

These developments point to an ongoing investigation into India’s clandestine activities in Canada, raising serious concerns about foreign interference, sovereignty, and Indo-Canadian relations.

You can read more on the matter here.

What’s going on?

• ‘Big Oil Doesn’t Have Your Back’: Newsom’s Fuel Bill Divides California (theDeepDive)

• U.S. urges India to co-operate with Canadian criminal investigations linked to New Delhi (Globe)

• US opens applications for $900 million for small nuclear reactors (Reuters)

• Biden Administration to Loan $671 Million to EV Battery Component Manufacturer for New Georgia Plant (theDeepDive)

• Interest rates have further to fall, but fixed mortgage rates are already nearing their bottom (Globe)

• CMHC reports September pace for housing starts up from August (BNN)

• Ukraine Warns of North Korean Involvement as Report Claims 10,000 Troops Sent to Russia (theDeepDive)

• The solid-state batteries hype is fading – prompting auto giants to consider alternatives (CNBC)

• lon Musk battles Indian billionaires over satellite internet spectrum (FT)

• Hindenburg vs. Dorsey: The Fight For Credit Over Roblox Short Report (theDeepDive)

• Bank of Canada to Chop Rates a Full Point by Year End, Marion Says (BNN)

• PM Trudeau testifying at foreign interference inquiry, amid conflict with India over criminal allegations (Globe)

What’s the latest?

• TD Bank: ITD Bank expects $178 million in reported equity net income from its Charles Schwab investment for Q4, with an adjusted figure of $207 million after excluding acquisition-related charges and amortization. Schwab reported a Q3 profit of $1.41 billion, up from $1.13 billion last year. TD reduced its stake in Schwab to 10.1% after selling 40.5 million shares in August.

• Northvolt: Northvolt AB has laid off nearly 400 white-collar workers at its Skelleftea operations, as part of a plan to cut 1,000 jobs. This includes 180 layoffs at the main factory and 85 from the Engineers of Sweden union, with 124 additional layoffs linked to the bankrupt Northvolt Expansion Ett. In total, 330 engineers and 34 positions in Stockholm and Vasteras are affected.

• Elon Musk: Elon Musk donated $75 million to his pro-Trump group, America PAC, between July and September, making him its sole donor. The PAC spent $72 million on voter turnout efforts in key states and had $4 million left at the end of the period. Musk joins top Republican donors like Miriam Adelson, who gave $95 million to another pro-Trump PAC. America PAC faced staffing and contractor challenges due to its late start.

• Canada Housing: Canada's housing starts rose 5% in September to an annualized rate of 223,808 units, up from 213,012 in August. Urban housing starts increased 6% to 210,002 units, with multi-unit projects rising 6% and single-detached homes up 5%. Rural starts were estimated at 13,806 units. The six-month moving average fell slightly to 243,759 units from 246,972 in August.

• Nuclear Energy: Amazon and Ken Griffin are investing $500 million in small modular reactors (SMRs) through X-Energy, aiming to develop over 5 gigawatts of power in the US by 2039. Amazon's agreements with Energy Northwest and Dominion Energy will support SMR projects in Washington and Virginia, producing up to 960 megawatts and 300 megawatts, respectively.

Aya Silver: Explosive 10x growth in 4 years

The stock market and stuff

• TD Bank Fined $1.3 Billion for AML Failures, Including Crypto-Related Oversight (theDeepDive)

• Morgan Stanley third-quarter profits rise 32% to $3.2bn (FT)

• Toronto stocks hit record high on BoC rate-cut optimism (Reuters)

• Google Signs Landmark Nuclear Power Deal to Fuel AI’s Growing Energy Demands (theDeepDive)

In the juniors

• Alaska Energy Metals Ventures into White Hydrogen Exploration at Angliers-Belleterre Project (theDeepDive)

• Good Projects Always Find Funding, Even in Bad Markets with Lobo Tiggre (theDeepDive)

• Costco Gold Sales: Middle Class Turning to Precious Metals? With David Garafolo of Gold Royalty Corp (theDeepDive)

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