Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks. In a speech to the Greater Vancouver Board of Trade, he said Monday structural changes are underway in the world including demographic shifts, technological changes, decarbonization and a move away from globalization. “We need to use the pandemic experience to prepare for future crises,” Macklem said in a prepared text of his speech. To that end, Macklem says the Bank of Canada is working to learn what it can from how the economy reacted to the pandemic and in its aftermath. The Bank of Canada is conducting a review of the policy actions it took to restore financial stability and support the economy during the pandemic that it plans to publish along with an assessment of an independent panel of experts. Macklem said the spike in inflation in 2022 was a reminder that even though inflation was relatively low and stable for 30 years leading up to the pandemic, central banks cannot take public trust for granted. “All of a sudden, people couldn’t afford the things they need. And while inflation is low once again, many prices are still a lot higher than they were before the pandemic. So people feel ripped off. And that erodes public trust in our economic system,” he said in his speech. The Bank of Canada has cut its key policy interest rate five times this year including last week when it reduced the benchmark by a half a percentage point to 3.25 per cent. Macklem says the bank will be evaluating the need for further reductions in the policy rate one decision at a time and anticipates a more gradual approach to monetary policy if the economy evolves as expected. Statistics Canada reported last month that the annual inflation rate was two per cent in Ontario, hitting the Bank of Canada’s target. The speech by Macklem came ahead of the release of the November inflation report on Tuesday. This report by The Canadian Press was first published Dec. 16, 2024. The Canadian PressAs we get ready to ring in the new year, it’s a great time to give the home an update, including the home office. If you’ve been keeping your eyes peeled for a great monitor that doesn’t break the bank , we’ve found it. This Samsung S36GD 27 inch Curved Monitor is currently reduced by 53 per cent for a limited time at Amazon Australia. Know the news with the 7NEWS app: Download today For just $127, it’s the perfect size for any at-home set up, including the dining room, office or bedroom. Perfect for working from home days or a gaming room addition, free up space or switch multiple screens for this 27-inch monitor. 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Good value for my money ,” one shopper commented. “Highly recommend these monitors for the price. 24 inch is as large as we can go on our computer desks so the curved screen really helps,” another shopper said. “Am very much enjoying the curved monitor , going to get another — bigger one next time,” a third shopper commented. To shop the limited-time offer , head to Amazon Australia.Kingdom Come: Deliverance 2 - Official Story TrailerTORONTO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Electrovaya Inc. (“ Electrovaya ” or the “ Company ”) (NASDAQ: ELVA; TSX: ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that the Company is commencing an underwritten public offering (the “ Offering ”) of its common shares (the “ Common Shares ”). All of the shares are being offered by the Company. The shares will be offered in the United States pursuant to a shelf registration statement (including a prospectus supplement thereto) previously filed with and declared effective by the Securities and Exchange Commission (the “ SEC ”) on September 25, 2024 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States, and will be qualified for distribution in the provinces and territories of Canada by way of a prospectus supplement to the Company’s base shelf prospectus dated September 17, 2024, provided that no securities will be sold in the Province of Québec. Roth Capital Partners, Raymond James Ltd. and Craig-Hallum Capital Group LLC are acting as the co-lead book-running managers for the proposed Offering. The Company intends to use the net proceeds from the Offering to satisfy the cash collateral conditions for the loan approved by the Export-Import Bank of the United States announced by the Company on November 14, 2024, repayment of amounts under the Company’s existing working capital facility in advance of proposed bank refinancing and for the costs of such financing, and satisfaction of certain outstanding amounts in connection with the purchase of the Company’s Jamestown, New York manufacturing facility. The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to customary closing conditions, including the listing of the Common Shares on the Toronto Stock Exchange (“ TSX ”) and the Nasdaq Capital Market (“ NASDAQ ”) and any required approvals of TSX and NASDAQ. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website at www.sec.gov and the prospectus supplement filed in Canada will be available on the Company’s profile on the SEDAR+ website at www.sedarplus.ca. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the Offering, when available, may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800)-678-9147 or e-mail at rothecm@roth.com . Prospective investors should read the preliminary prospectus supplement and accompanying prospectus relating to the Offering, and the base shelf prospectus and the other documents the Company has filed before making an investment decision. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction. Investor and Media Contact : Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. 905-855-4618 / jroy@electrovaya.com About Electrovaya Inc. Electrovaya Inc. (NASDAQ:ELVA) (TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com . Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the intention to complete the Offering and the anticipated use of proceeds from the Offering. Forward-looking statements can generally, but not always, be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, "possible", “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements are necessarily based on assumptions, and involve risks and uncertainties, therefore undue reliance should not be placed on such statements. Material assumptions on which forward-looking statements in this news release include assumptions about the ability to profitably market the Common Shares. Material risks and other factors that could cause actual results to differ from any forward-looking statement market conditions and other risks that may be found in the prospectus supplement and base shelf prospectus filed in connection with the Offering, including those risks described under the heading “Risk Factors”, and the documents incorporated by referenced therein. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Venture capital in the U.S. has moved to artificial intelligence (AI) companies at an “unprecedented” rate, HSBC Innovation Banking said Monday (Dec. 16). The scale of capital invested in AI companies by U.S. venture investors is approaching that allocated to the rest of the venture market, the firm said in a Monday press release outlining findings from Innovation Horizons , its latest quarterly outlook for the U.S. technology sector. Forty-two percent of U.S. venture capital was invested into AI companies in 2024, up from 36 % in 2023 and 22 % in 2022, according to the report . The report also found that as of 2024, 20 AI companies have each raised $2 billion or more. “Venture capital has always gravitated toward transformative industries, but the level of consolidation we’re seeing within one category is unprecedented,” HSBC U.S. Innovation Banking Head Dave Sabow said in the release. “The radical change this investment will fuel places us in the dawn of ‘The Agentic Age,’ an era where autonomous artificial intelligence capabilities fundamentally redefine how we communicate, work and interface with digital and physical worlds.” Investment giant BlackRock said Dec. 7 that it expects 2025 to be a big year for infrastructure and cybersecurity, with the AI boom playing a major role in those investments. “It’s still very early in the AI adoption cycle,” Jay Jacobs , BlackRock’s U.S. head of thematic and active ETFs, told CNBC in a Dec. 7 report . Jacobs added that AI firms need to build out their data centers and that protecting that data will likely be a wise investment. The HSBC report came on the same day that SoftBank said it will invest $100 billion in the U.S. over the next four years, focusing on AI and related infrastructure. HSBC Innovation Banking also found in its report that R&D spending from the so-called Magnificent 7 companies totaled more than all the dollars invested in U.S. startups in 2024, according to the release. The Magnificent 7 are Tesla , Nvidia , Microsoft , Meta , Apple , Amazon and Alphabet . The firm also said in the release that it expects the U.S. tech sector to see new waves of growth and tailwinds for returns resulting from expected changes in the acquisition market, deregulation and fiscal policies that stimulate economic activity.
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