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Texas county latest to block uranium mining

The Goliad County Commissioners Court unanimously passed a resolution opposing uranium mining within the county in Texas. This action comes in response to the Uranium Energy Corp (NYSE: URC) application to renew its permit with the Texas Commission on Environmental Quality (TCEQ) to continue uranium mining operations in the northwestern part of the county.

The resolution follows a public meeting organized by TCEQ, where Goliad residents expressed overwhelming opposition to the mining activities. Goliad County Judge Mike Bennett emphasized the community’s unified stance against the operations, stating, “It was well attended. There was a lot of passionate discussion during that meeting. I think it’s safe to say that the people that attended that meeting do not want uranium mining in their county.”

You can read more on the matter here.

What’s going on?

• Consumer Prices In Canada Rise 2.5% In July, Slowest Pace Since March 2021 (theDeepDive)

• Brits snap up lower mortgage deals as Bank of England rate cut boosts property market (CNBC)

• China Greenlights Record 11 Nuclear Reactors in Major Energy Push (theDeepDive)

• EU to hit Teslas imported from China with 19% tariffs (FT)

• Mike Lynch: The Rise, Fall, and Tragic Disappearance of a British Tech Titan (theDeepDive)

• Obama to endorse Kamala Harris in high-profile speech at DNC on Tuesday (Globe)

• Sports Betting Diverts Funds from Stock Market Investments, New Research Reveals (theDeepDive)

• Mike Lynch and daughter among six missing after yacht sinks (Reuters)

• Google Terminates AdSense Accounts in Russia, Citing ‘Ongoing Developments’ (theDeepDive)

• Kamala Harris backs plan to raise US corporate tax rate to 28% (FT)

• Walmart and DroneUp Scale Back Drone Delivery Operations (theDeepDive)

What’s the latest?

• CPI: Canada's inflation rate dropped to 2.5% in July, the slowest pace in over three years, reinforcing expectations that the Bank of Canada will cut interest rates for the third consecutive meeting in September. Economists widely expect a 25 basis-point rate cut next month, with additional cuts anticipated in October and December as the central bank prioritizes economic growth amid softening inflation.

• Boeing Struggles: The U.S. Federal Aviation Administration (FAA) has mandated inspections of Boeing 787 Dreamliners following an incident in March where a LATAM Airlines flight experienced a sudden mid-air dive, injuring over 50 passengers. The FAA's directive affects 158 U.S.-registered and 737 global 787 aircraft, requiring inspections of the captain’s and first officer’s seats within 30 days.

• Rail Strike Problems: More than 32,000 rail commuters in Canada may need to find alternative routes to work this week if a work stoppage occurs at Canadian Pacific Kansas City. The potential strike, set to begin at 12:01 a.m. ET on Thursday, could affect commuter lines in Toronto, Montreal, and Vancouver that operate on CPKC tracks. Transit authorities, including TransLink, Metrolinx, and Exo, have announced possible suspensions and are advising riders to seek alternate routes.

• Dividend Investing: Investors are beginning to shift funds back into Toronto’s dividend-paying stocks, particularly in sectors like utilities, REITs, and communications, as short-term interest rates in Canada decline, according to Canadian Imperial Bank of Commerce. With the Bank of Canada reducing rates and expected to continue doing so, analysts predict that around $220 billion could be redirected into dividend-paying stocks.

• M&A: The U.S. Transportation Department is reviewing Alaska Airlines' proposed $1.9 billion acquisition of Hawaiian Airlines after the deal cleared a key Justice Department review. While the Justice Department's approval marked a significant milestone, the Transportation Department must now assess whether the merger is in the public interest.

Franco Nevada Q2 earnings

The stock market and stuff

• Uranium Energy Corp Hits 6.96% eU3O8 Over 13.5 Metres At Roughrider (theDeepDive)

• Edgar Bronfman Jr offers $4.3bn for control of Paramount Global (FT)

• China Obscures Market Data Amid Potential First Annual Equity Outflow Since 2016 (theDeepDive)

• TSX muted as energy shares counter gains from CPI data (Reuters)

• Is Elon Musk Going to Sell More Tesla Stock to Keep X Afloat? (theDeepDive)

In the juniors

• i3 Energy To Be Acquired By Gran Tierra Energy For $309.1 Million (theDeepDive)

• Plurilock Secures Another Sale To United States Department Of Transportation (theDeepDive)

• Sterling Metals Identifies Multiple High Grade Copper Exploration Zones At Copper Road Project (theDeepDive)

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