Sponsored by Lithium Chile

Japan has a housing problem

On the opposite side of the world, the housing crisis isn’t about a shortage in supply but a shortage of people needing homes. Recent data released by Japan’s Ministry of Internal Affairs and Communications show that the country’s number of empty homes continues to rise.

The survey reveals that vacancies have reached a staggering 8.99 million, marking an 80% increase over the past two decades. This means that 13.8% of all homes in Japan are now unoccupied, with the share exceeding 20% in some rural areas where population decline is more pronounced.

You can read more on the matter here.

What’s going on?

• Shoppers Drug Mart Gets Caught Trying to Hire A ‘Volunteer’ (theDeepDive)

• Reddit Forges Pact With OpenAI to Bring Content to ChatGPT (Bloomberg)

• Musk’s X Completes Rebranding Away From Twitter (WSJ)

• Tesla to Face Class-Action Lawsuit Over Alleged Misrepresentation of Self-Driving Capabilities (theDeepDive)

• World’s top golfer Scottie Scheffler arrested on charges of assaulting officer at PGA championship event (CNBC)

• Fed remains cautious on cuts even as data improves (Reuters)

• Suspect in Slovakian PM Shooting Identified as Pro-Russian Sympathizer and Writer Juraj Cintula (theDeepDive)

• US to Offer Up to $3.4 Billion for Nuclear Fuel Makers in June (BNN)

• China pledges $42 billion in a slew of measures to support the struggling property sector (CNBC)

• Ontario Health Minister Refuses to Allow Toronto to Even Suggest It Should Decriminalize Drugs (theDeepDive)

What’s the latest?

• Reddit & OpenAI: Reddit Inc. has partnered with OpenAI to integrate its content into ChatGPT and other AI products while introducing new AI features to Reddit forums. This collaboration will enhance OpenAI's ability to understand and showcase Reddit content, especially on current topics, and will allow OpenAI to train its AI systems using Reddit's data.

• Precious Metals Surge: Silver has surged by over 25% this year, outperforming gold and becoming one of the best-performing major commodities. The current gold-silver ratio is around 80, above the 20-year average of 68, indicating silver remains relatively cheap compared to gold. Spot silver rose to US$30.55 an ounce, its highest since February 2013, while gold prices increased to $2,405.18.

• Crypto King: Aiden Pleterski, a 25-year-old known as the "crypto king," and a 27-year-old associate have been charged with fraud over $5,000, with Pleterski also facing charges of laundering proceeds of crime. Durham Region police, after receiving complaints in July 2022, launched an investigation named Project Swan, revealing that Pleterski solicited investments as recently as February.

• TikTok Threat: In a warning to Canadians, including teenagers, CSIS director David Vigneault advised against using TikTok due to China's strategy to acquire personal information globally. Vigneault highlighted that data from the app is accessible to the Chinese government and could be used against individuals in the future. His comments follow a CSIS report on Xi Jinping's extraterritorial reach, emphasizing China's use of big data, AI, and expansive laws to protect the interests of the Chinese Communist Party.

• Housing Problems: A CMHC study, led by Mathieu Laberge, indicates that restrictive regulations and a fragmented industry are hindering housing starts in Canada, which could exceed 400,000 homes annually, far above last year's 240,267. Laberge suggests regulatory reforms and industry consolidation to enhance productivity, pointing to successful models like British Columbia's zoning reforms. The federal government's plan to build 3.87 million homes by 2031 requires immediate structural changes to achieve this goal.

Russian uranium ban rocks west supply chain

The stock market and stuff

• GameStop Shares Plummet Following Prelim Q1 2024 Earnings, Financing Announcement (theDeepDive)

• BlackRock Keeps $7 Billion Oklahoma Pension Contract After Anti-ESG Law Pause (Bloomberg)

• ‘Crypto King’ Aiden Pleterski Arrested on Fraud Charges in Ontario (theDeepDive)

• Endeavor's $13 billion deal highlights push to sidestep minority shareholders (Reuters)

In the juniors

• Usha Resources Enters LOI To Sell 90% Interest In Jackpot Lake Lithium Project For $18 Million In Cash And Stock (theDeepDive)

• OTC Markets Group To Allow Trading Overnight (theDeepDive)

• Tilray To Conduct $250 Million ATM Financing To Fund Acquisitions (theDeepDive)

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