Seabridge rejects Indigenous opposition to KSM

Ottawa will contribute C$500M (US$352M) to Newmont’s proposed Red Chris Block Cave, linking mine funding to British Columbia’s North Coast Transmission Line. The deal also includes C$3.9B for BC Hydro’s first two stages. Red Chris needs up to 145 MW; the expansion could add ~14 years of mine life and ~1,800 construction jobs, according to Newmont.

Bank of America (BAC) faces $1.21B in penalties for AML and sanctions violations. The Treasury Department imposed a $1.2B fine, while the OCC added a $750M penalty. BAC offers a 2.04% dividend yield, a 25% payout ratio, and a 7.9% 3-year dividend growth rate. Its GF Score is 82/100, indicating strong fundamentals, though insiders and gurus show cautious sentiment.

Missouri Attorney General Catherine Hanaway sued Temu, alleging the app secretly tracks users' data, including location and app usage, potentially sharing it with the Chinese government. The lawsuit also claims Temu sells counterfeit merchandise and lacks age verification, exposing children to inappropriate content. Hanaway seeks to halt these practices and impose fines. Temu's parent company, PDD Holdings, is based in China.

Bank of America (BAC) stock fell 2.3% after hours due to a $1.21B regulatory fine for compliance failures. The penalty, the largest in OCC history, will reduce Q3 EPS by $0.17. This comes ahead of Q3 earnings, with analysts expecting EPS of $1.10–$1.11. The broader market was flat, with tech shares under pressure.

The US Treasury Department fined Bank of America $1.2 billion for violating anti-money laundering and sanctions laws, citing failures in reporting and mitigating national security risks. The bank admitted to deficiencies and stated the fine will impact its quarterly earnings, reducing net income by approximately 17 cents per share. Bank of America's stock (BAC) fell over 2.5% in after-hours trading following the announcement.

Bank of America (BAC) fell 1.14% to $53.96 after a $1.2B fine from the Treasury Department for anti-money-laundering violations. The bank expects a $0.17 EPS hit in Q3. S&P 500 and Nasdaq also declined slightly. Investors await BAC's earnings report.