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Trump accuses Senate Democrats of using nominee confirmations as leverage for funding deals

Politics 2 Mins Read

President Donald Trump alleged that Senate Democrats are possibly delaying his nominees in exchange for money in a heated post on Truth Social Sunday night.

In the post, Trump accused Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., of slowing down the confirmations of more than 150 executive nominees.

‘Democrats, lead[sic] by Cryin’ Chuck Schumer, are slow walking my Nominees, more than 150 of them. They wanted us to pay, originally, two billion dollars for approvals. The Dems are CRAZED LUNATICS!!!’ the post read.

He implied that Democrats were leveraging the process to extract funding agreements — a tactic his associates have described as ‘political extortion.’

Senate Majority Leader John Thune, R-S.D., met with Schumer recently to discuss an offer during ongoing negotiations, but they have not readdressed it directly since choosing to communicate through intermediaries, according to Thune.

While Trump has urged the Senate to make quick moves, Democrats continue to block more nominees than normal.

‘I think they’re desperately in need of change,’ Thune said of Senate rules Saturday after negotiations with Schumer and Trump broke down. ‘I think that the last six months have demonstrated that this process, nominations is broken. And so I expect there will be some good robust conversations about that.’

Historically, nominees have been confirmed unanimously or by voice vote quickly, but Senate Dems have been reportedly forcing roll-call votes on many of the current nominees.

Thune told Fox News Digital that not much headway was being made as ‘the Dems are dug in on a position that’s just not working.’

Senate Republicans want to strike a deal that would send nominees with bipartisan support through committee to lightning-fast votes on the floor, but Schumer has not relented.

Trump’s claims come after the Senate left Saturday for a month-long August recess without coming to a deal on advancing dozens of nominees, which prompted him to post on Truth Social that Schumer could ‘GO TO HELL.’

Fox News Digital’s Alex Miller contributed to this report.

This post appeared first on FOX NEWS

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Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

Investing 8 Mins Read

The stock market’s momentum from earlier this week, which saw the S&P 500 (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) reach new record highs, came to a halt on Friday (August 1).

Investors were reacting to a series of mixed tech earnings reports. Many were accompanied by cautious forward-looking guidance despite strong top-line numbers. This sentiment was further soured by fresh economic data out of the US showing that while employment remains strong, there are signs inflation is reaccelerating.

The most significant blow, however, came from geopolitical developments that reignited global trade tensions, prompting new fears of retaliatory tariffs and the potential for a renewed surge in inflation.

1. Samsung and Tesla strike deal

Tesla (NASDAQ:TSLA) CEO Elon Musk announced a US$16.5 billion deal with Samsung Electronics (HKEX:2814) that would see the electronics conglomerate produce AI6 semiconductors for the carmaker until 2033.

Production will take place at Samsung’s new fab in Taylor, Texas. The news led to a 6.8 percent rise in Samsung’s shares on Monday (July 28), as well as a 1 percent increase for Tesla. Last week, the carmaker saw its share price decline after reporting a 12 percent drop in revenue, marking its biggest quarterly decline in over 10 years.

Musk called the deal’s strategic importance “hard to overstate’ in a post on X. “Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk added in another post.

“The $16.5B number is just the bare minimum,” he also said. “Actual output is likely to be several times higher.”

2. Bell Canada and Cohere partner on sovereign AI

BCE (TSX:BCE,NYSE:BCE) and Canadian artificial intelligence (AI) company Cohere announced a partnership on Monday that will see them work together to provide AI services to Canadian companies and government agencies.

The deal is focused on sovereign AI, meaning all data will stay within Canada.

“At a critical time for Canada, we’re proud to partner with Cohere to create a sovereign, full-stack AI solution, custom-built to support the Canadian government and business. Working together, we will both transform Canadian businesses through cutting-edge AI capabilities, while ensuring that the data remains secure and within Canada,” said Mirko Bibic, president and CEO of BCE, previously known as Bell Canada Enterprises.

“Our partnership with Bell Canada will provide the Canadian government and enterprises with world-class options for sovereign, security-first AI,’ added Aidan Gomez, co-founder and CEO of privately owned Cohere.

This has the potential to be truly transformative for organizations looking to massively increase their productivity and efficiency without any compromise on data security and privacy.’

Under the terms of the deal, Bell will provide the physical infrastructure, including its national network and data centers. Meanwhile, Cohere will provide its powerful AI models to offer a secure, all-in-one AI solution. This helps Canadian organizations adopt new technology. It also ensures their sensitive information is kept safe at home.

3. Palo Alto Networks to acquire CyberArk

On Wednesday (July 30), Palo Alto Networks (NASDAQ:PANW) announced plans to acquire Israeli AI cybersecurity firm CyberArk Software. The Wall Street Journal had reported on Tuesday (July 29) that they were in talks.

Under the terms of the agreement, CyberArk shareholders will receive US$45 cash and 2.2005 shares of Palo Alto per share of CyberArk. Palo Alto expects the transaction to be immediately accretive to its revenue growth and gross margin, and accretive to free cash flow per share in fiscal year 2028.

In a press release announcing the acquisition, Nikesh Arora, chairman and CEO of Palo Alto, said:

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the ‘IAM fallacy’. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.”

Udi Mokady, founder and executive chairman of CyberArk, called the news a ‘profound moment in CyberArk’s journey,’ saying that they combination will accelerate the mission it began more than two decades ago.

Palo Alto Networks performance, July 29 to August 1, 2025.

Chart via Google Finance.

The deal is expected to close in the second half of Palo Alto’s 2026 fiscal year, subject to regulatory and CyberArk shareholder approval. Although Palo Alto hit a high of US$210.39 on Tuesday, shares of the company declined by 5 percent following the announcement and closed 17.83 percent below Tuesday’s high.

4. Microsoft, Meta, Amazon and Apple report quarterly results

Microsoft (NASDAQ:MSFT) ended its fourth fiscal quarter of 2025 with record revenue, driven by strong AI and cloud service growth. Microsoft Cloud revenue exceeded US$168 billion, a 23 percent increase, and Intelligent Cloud, including Azure, grew 26 percent to US$29.9 billion, with Azure up 39 percent. Although significant AI investments (over 100 million monthly Copilot users) caused a slight gross margin dip, the firm’s operating income rose 23 percent.

CEO Satya Nadella expressed confidence in long-term growth. For her part, CFO Amy Hood noted that commercial bookings surpassed US$100 billion; she anticipates double-digit revenue and operating income growth in the 2026 fiscal year, though data center capacity may remain constrained through the first half of the period.

Meta Platforms (NASDAQ:META) also had a positive Q2, with revenue up 22 percent to US$47.52 billion and net income up 36 percent to US$18.34 billion. Earnings per share rose 38 percent to US$7.14.

CEO Mark Zuckerberg highlighted the company’s focus on “personal superintelligence.”

The Family of Apps saw daily active people increase 6 percent to 3.48 billion, and advertising revenue grew with impressions up 11 percent and average price per ad up 9 percent.

Q3 revenue is projected to be US$47.5 billion to US$50.5 billion. However, regulatory challenges in the EU could impact European revenue. Meta is also heavily investing in AI and infrastructure, with 2025 capital expenditures narrowed to US$66 billion to US$72 billion, and similar growth expected in 2026.

Microsoft, Apple, Meta Platforms and Amazon performance, July 29 to August 1, 2025. 

Chart via Google Finance.

Amazon (NASDAQ:AMZN) delivered a strong second quarter, with overall net sales growing 13 percent year-on-year to $167.7 billion. The company’s net income also saw a significant increase, rising 35 percent year-on-year to $18.16 billion.

The growth was fueled by strong performance across all three of its major segments. The North America segment, which accounted for 60 percent of total net sales, saw a revenue increase of 11 percent year-on-year to $100.07 billion.

The International segment saw its net sales grow by 16 percent year-on-year to $36.76 billion, with a particularly notable 448 percent increase in operating income. Amazon Web Services continued its steady performance, with net sales reaching $30.87 billion, up 17 percent year-on-year. Despite its strong revenue growth, the company’s trailing 12 month free cashflow declined by 66 percent year-on-year to $18.18 billion.

Finally, Apple (NASDAQ:AAPL) posted strong results for its third fiscal quarter of 2025, with total net sales increasing to US$94.04 billion, up from US$85.78 billion in the same quarter last year.

The company’s net income rose to US$23.43 billion, an increase from US$21.45 billion year-on-year. This performance translated to earnings per share of US$1.57, up from US$1.40 in the prior year. The growth was primarily driven by its products and services, with the iPhone and Mac categories seeing notable increases in net sales. Apple’s services segment also continued its expansion, with sales rising to US$27.42 billion from US$24.21 billion a year ago.

5. Figma makes public debut

Figma’s highly anticipated initial public offering (IPO) generated significant buzz this week, with its share price and valuation surging dramatically on its first day of trading.

On Monday, Figma increased its IPO price range to US$30 to US$32 a share, up from US$25 to US$28. This new pricing valued the company at up to a US$18.7 billion market cap and a US$17.2 billion enterprise value. According to Bloomberg, people familiar with the matter indicated that the IPO was approaching 40 times oversubscribed.

The company had its first day of trading on the NYSE on Thursday (July 31).

Figma’s shares surged by 250 percent from US$33 to US$115 following a blockbuster IPO, with the company raising US$1.22 billion. Its market cap reached US$67 billion by the end of the market’s close. On Friday, Figma opened at US$134.82 before pulling back alongside other major tech stocks and risk assets to finish the week at US$122. Its debut surge and end-of-day valuation made it one of the largest and most successful tech IPOs in recent memory.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Trump 1.0 alums share chilling Google message from before second-term return: ‘LAWFARE at its finest’

Politics 3 Mins Read

Officials from the first Trump administration are alleging they received notices from Google shortly before they returned to office that they were being probed by the FBI under the Biden administration and the web giant was unable to tell them because of a court order. 

Dan Scavino, who is now White House Deputy Chief of Staff and assistant to the president, described the matter as ‘Biden lawfare’ kicking in after he ‘patriotically and proudly’ served during Trump’s first term. 

‘Google received and responded to a legal process issued by the Federal Bureau of Investigation compelling the release of information related to your Google account. A court order previously prohibited Google from notifying you of the legal process…’ Scavino shared on X from an email he said he received from Google five weeks before Trump returned to the White House. 

‘I’ve never shared this — but this is a small taste of the INSANITY that many of us went through — right here in the United States of America. LAWFARE at its finest. A Complete and Total Disgrace!!!!!’ he added. 

Less than a half-hour after Scavino’s post, FBI Director Kash Patel responded to him saying ‘I got one of those too…’ 

Jeff Clark, the current acting administrator of the Office of Information and Regulatory Affairs, then chimed in Saturday morning, saying that he, too, received a similar message.

‘Indeed, a whole Jack Smith team was assigned to go through my emails after there was a privilege review,’ Clark wrote on X in reference to the former special counsel. 

‘But that group of lawyers ignored my religious pastor privilege, marital privilege, and other privileges and basically shipped all they could to Jack Smith. But it still cost me tens of thousands to try to protect my communications,’ he added. 

Smith was tapped by former Attorney General Merrick Garland to probe allegations that Trump sought to overturn the 2020 election results, and later investigated the handling of classified documents that were uncovered during a raid at Trump’s Mar-a-Lago compound. 

‘My medical records and other private communications had nothing to do with the 2020 election. They were no one’s business. But it didn’t matter to these thugs with law degrees and the willingness to abuse government power,’ Clark said Saturday.  

‘They were trying to bait me to go to court to get them to destroy their secret copies of the emails, so they could try to break even my lawyer-client privilege with President Trump. But my team and I didn’t fall for it,’ Clark also said. ‘Moreover, the whole thing was a blatant attempt to intimidate me. It didn’t work and I didn’t fold under the pressure.’ 

The FBI did not immediately respond Saturday to a request for comment from Fox News Digital. 

Fox News’ Alex Miller contributed to this report. 

This post appeared first on FOX NEWS

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Dems dig in, Trump demands all: Nominee fight boils over in Senate as GOP looks for a deal

Politics 4 Mins Read

The path to a deal on confirming a slew of President Donald Trump’s nominees appeared shaky at best in the Senate Saturday, as Republicans and Democrats sparred over terms and conditions to find a way forward.

Senators were supposed to be long gone from Washington by now, but Trump’s demands to ram his nominees through Senate Democrats’ historic blockade have kept lawmakers in town. But by late afternoon, not much progress had been made.

When asked if any headway had been made, Senate Majority Leader John Thune, R-S.D., told Fox News Digital, ‘Unfortunately, not really, no.’

‘The Dems are dug in on a position that’s just not working,’ he said.

Negotiations have been ongoing among Republicans, Democrats and the White House. Thune and Senate Minority Leader Chuck Schumer, D-N.Y., met last night to discuss an offer from Democrats. The two have not spoken directly since then, instead communicating through intermediaries, Thune said. However, he expected they would talk again later Saturday.

Senate Republicans want to strike a deal that would see nominees that made it through committee with bipartisan support get lightning-fast votes on the floor, but Schumer has not relented.

A source familiar with negotiations said Senate Democrats are looking for deals on the release of funding withheld by the White House and a guarantee that there will be no future rescissions packages — a particular sticking point for them heading into the looming deadline to fund the government. In exchange, they are offering a tranche of nominees to go ahead now, and another round later in the fall.

But Trump, who is at his Bedminster, N.J., golf course, has demanded that lawmakers stay in town and pass the entire slate of nominees on the Senate calendar, which has ballooned to over 150.

The president lauded Senate Republicans in a post to Truth Social on Saturday ‘for fighting, over the Weekend and far beyond, if necessary, in order to get my great Appointments approved, and on their way to helping us MAKE AMERICA GREAT AGAIN!’

‘The Radical Left Democrat Senators are doing everything possible to DELAY these wonderful and talented people from being approved,’ he said. ‘If George Washington or Abraham Lincoln were up for approval, the Dems would delay, as long as possible, then vote them out.’

While Republicans have confirmed well over 100 of the president’s nominees, the only pick to make it to the floor without objection was Secretary of State Marco Rubio. 

Not a single one of Trump’s nominees has gotten a voice vote or gone through unanimous consent, two floor actions that have been routinely used to advance nominees in the upper chamber throughout the years. At this point four years ago, 49 of former President Joe Biden’s picks had been confirmed by voice vote.

Sen. Markwayne Mullin, R-Okla., explained that Republicans have three options that they have enough support among the conference to move forward with: reach a deal with Democrats; adjourn the Senate and give the president runway for recess appointments and finally, a rules-change package, which some Republicans consider the ‘nuclear option.’

On recess appointments, a move floated since before Trump took office, Sen. Eric Schmitt, R-Mo., contended it would be up to Democrats whether Republicans actually went through with it.

‘The Democrats’ obstruction is leading to, in very short order, us taking the necessary actions to give the President power to make recess appointments,’ he said.

While it would be a touchy move that would set off a firestorm among Democrats, Republicans aren’t afraid to move ahead with a rules change. When asked if a rule change should be done before lawmakers leave town, Sen. Kevin Cramer, R-N.D., said ‘I think that’d be best.’

But the preference is to strike a deal, preferably on a potential package on over 60 nominees that were advanced out of committee in a bipartisan fashion.

‘The reason why we’re that way is because Schumer led us down this road,’ Mullin said. ‘He didn’t have to do it this way.’

This post appeared first on FOX NEWS

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Pirro confirmed as D.C. U.S. Attorney amid partisan clash as Dem nominee blockade continues

Politics 3 Mins Read

The Senate on Saturday confirmed Jeanine Pirro, President Donald Trump’s pick to serve as Washington D.C.’s top prosecutor, as lawmakers failed to reach a deal to ram through dozens of the president’s nominees.

The onetime New York judge and prosecutor and former Fox News host was one of the over 150 still outstanding nominees on the Senate’s calendar as Senate Republicans work to find a path forward to ram through Senate Democrats’ blockade of Trump’s nominees, and part of a slew of picks to get a vote over the weekend. But just ahead of her confirmation vote, the path to a deal was derailed, and lawmakers opted to ram through just seven of Trump’s nominees before heading home until September.

Pirro, who was confirmed by a 50-45 vote, will serve as U.S. Attorney for the District of Columbia, a post she has held since May on an interim basis.

Pirro previously served as the District Attorney in Westchester County, New York, for over a decade. Prior to that, she was on the bench as a judge in Westchester County in the early 1990s.

‘Jeanine is incredibly well-qualified for this position, and is considered one of the Top District Attorneys in the History of the State of New York,’ Trump said when he nominated Pirro. ‘She is in a class by herself.’

She was not Trump’s first pick for the job, however. His first choice, Ed Martin, failed to gain enough support among Republicans earlier this year. Sen. Thom Tillis, R-N.C., effectively tanked Martin’s nomination over concerns about his views on the Jan. 6, 2021 riot on Capitol Hill.

And Pirro’s road to confirmation was not without its own hiccups and drama.

Senate Democrats have accused her of amplifying Trump’s 2020 election fraud claims and defending him after the Jan. 6 Capitol riot during her time as a Fox News host, and warned that she would do the president’s bidding in her role as Washington D.C.’s top prosecutor.

During a Senate Judiciary Committee hearing last month, Democrats staged a walkout in protest of both her and U.S. District Judge Emil Bove, who was confirmed earlier this week in a tight, 50 to 49 vote. She later advanced out of committee on a party-line vote.

‘She’s an election denialist, recklessly peddling President Trump’s Big Lie despite even her own Fox News producers and executives warning her to reel it in,’ Senate Minority Whip Dick Durbin, D-Ill. and the top Democrat on the Senate Judiciary Committee said of Pirro. 

This post appeared first on FOX NEWS

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Ex-Trump prosecutor Jack Smith under investigation by government watchdog Office of Special Counsel

Politics 2 Mins Read

The U.S. Office of Special Counsel (OSC) is investigating former special counsel Jack Smith, the OSC has confirmed to Fox News.

Smith was tapped in 2022 by then-Attorney General Merrick Garland to serve as special counsel regarding two probes pertaining to then-former President Donald Trump.

The OSC is investigating Smith for allegedly violating the Hatch Act, which bars government employees from partaking in political activities. It is not a criminal investigation. 

Fox News Digital reached out to the White House for comment on Saturday, but did not receive a response.

The OSC is not the same as a special counsel appointed by an attorney general, as Smith was, but ‘is an independent federal investigative and prosecutorial agency,’ according to its website. 

‘OSC’s statutory authority comes from four federal laws: the Civil Service Reform Act, the Whistleblower Protection Act, the Hatch Act, and the Uniformed Services Employment & Reemployment Rights Act (USERRA),’ the website explains.

Republican Sen. Tom Cotton of Arkansas recently asked the OSC to look into whether Smith illegally engaged in political activity to influence the 2024 election against Trump.

‘I write requesting the Office of Special Counsel to investigate whether Jack Smith, Special Counsel for Attorney General Merrick Garland, unlawfully took political actions to influence the 2024 election to harm then-candidate President Donald Trump,’ Cotton wrote in a July 30 letter to Acting Special Counsel Jamieson Greer.

‘President Trump of course vanquished Joe Biden, Jack Smith, every Democrat who weaponized the law against him, but President Trump’s astounding victory doesn’t excuse Smith of responsibility for his unlawful election interference. I therefore ask the Office of Special Counsel to investigate whether Jack Smith or any members of his team unlawfully acted for political purposes,’ Cotton wrote.

Fox News’ David Spunt contributed to this report.

This post appeared first on FOX NEWS

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Trump tells Schumer to ‘GO TO HELL’ over Senate nominee deal funding demands after negotiations collapse

Politics 4 Mins Read

Hours of tense negotiations to strike a deal on President Donald Trump’s nominees blew up Saturday night, and now lawmakers are headed home.

Senate Republicans and Democrats were quick to point the finger at one another for the deal’s demise, but it was ultimately Trump who nuked the talks.

In a lengthy post on his social media platform Truth Social, Trump accused Senate Minority Leader Chuck Schumer, D-N.Y., of ‘demanding over One Billion Dollars in order to approve a small number of our highly qualified nominees.’

‘This demand is egregious and unprecedented, and would be embarrassing to the Republican Party if it were accepted. It is political extortion, by any other name,’ Trump said. ‘Tell Schumer, who is under tremendous political pressure from within his own party, the Radical Left Lunatics, to GO TO HELL!’

‘Do not accept the offer,’ he continued. ‘Go home and explain to your constituents what bad people the Democrats are, and what a great job the Republicans are doing, and have done, for our Country. Have a great RECESS and, MAKE AMERICA GREAT AGAIN!!!’

Instead of finding a pathway to vote on as many as 60 of the president’s nominees, all of which moved through committee with bipartisan support, lawmakers rapid-fire voted on seven before leaving Washington until September.

But Schumer treated Trump’s move as a victory for Senate Democrats. He countered that it was the president who gave up on negotiations while he and Senate Majority Leader John Thune, R-S.D., worked to find a bipartisan solution, ‘provided the White House and Senate Republicans met our demands.’

‘He took his ball, he went home, leaving Democrats and Republicans alike wondering what the hell happened,’ Schumer said, standing next to a poster-sized version of the president’s post. 

‘Trump’s all-caps Tweet said it all,’ he continued. ‘In a fit of rage, Trump threw in the towel, sent Republicans home, and was unable to do the basic work of negotiating.’

But prior to the president’s edict, both sides of the aisle believed they were on the verge of a breakthrough to both meet Trump’s desire to see his nominees confirmed and leave Washington.

said that there were ‘lots of offers’ made between him and Schumer over the course of negotiations.

‘There were several different times where I think either or both sides maybe thought there was a deal in the end,’ he said.

Senate Democrats wanted the White House to unfreeze billions in National Institute of Health and foreign aid funding, in addition to a future agreement that no more clawback packages would come from the White House.

In exchange, they would greenlight several of Trump’s non-controversial nominees.

Sen. Markwayne Mullin, R-Okla., accused Schumer of going ‘too far’ by upping the price tag on his demands.

‘We’ve had three different deals since last night,’ he said. ‘And every time it’s been, every time it’s ‘I want more,’’ Mullin said of Schumer’s demands.

He said that Republicans weren’t caught off guard by Trump’s call to halt talks, and noted that the White House had been heavily involved in negotiations.

‘You get to a realization that there was, it was never about making a deal,’ he continued. ‘They want to go out and say the President’s being unrealistic, and because he can’t answer to his base to make a deal like we have in every other president in history.’

Now, Republicans won’t pursue recess appointments, but Mullin noted that moving ahead with a rule change to the confirmation process when lawmakers return in September was going to happen in response.

‘The asks evolved on both sides quite a bit over time,’ Thune said. ‘But in the end, we never got to a place where we had both sides agree to lock it in.’

Senate Democrats, on the other hand, countered that their offer never changed, and that Republicans kept increasing the number of nominees they wanted across the line, and attempted to include more controversial, partisan picks.

Schumer wouldn’t reveal the details of his demands, but charged that any changes to Senate rules would be a ‘huge mistake,’ and urged Trump to work with Senate Democrats moving forward, particularly as Congress hurtles toward yet another deadline to fund the government in September. 

‘They should stop listening to him,’ Schumer said. ‘If they want to do what’s good for the American people, they shouldn’t be in blind obeisance to Donald Trump.’
 

This post appeared first on FOX NEWS

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Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

Investing 3 Mins Read

Albemarle (NYSE:ALB), one of the world’s largest lithium producers, is cutting costs and narrowing its capital investment plans as it adjusts to ongoing weakness in lithium prices, even as demand from electric vehicle and energy storage sectors holds up better than expected.

The Charlotte-based company reported a second-quarter profit of US$22.9 million, a significant turnaround from the US$188.2 million loss it posted a year ago.

While total revenue fell 7 percent to US$1.33 billion, the figure still came in ahead of Wall Street’s US$1.22 billion estimate, buoyed by stronger-than-expected results in its specialties division and disciplined cost management.

“Our job is just to keep working on the things that are in our control, because we don’t really have a clear line of sight to where pricing is going,” Chief Financial Officer Neal Sheorey told investors Thursday.

Sheorey said Albemarle has reached its US $400 million annualized cost-savings and productivity target, citing measures such as supply chain restructuring and improved operations at lithium conversion and mining sites.

The company now expects to spend between US$650 million and US$700 million in capital expenditures for the full year, narrowing its previous guidance of US$700 million to US$800 million.

With lower spending and continued operational execution, Albemarle said it expects to achieve positive free cash flow for 2025—so long as current lithium prices, which have hovered around US$9 per kilogram, persist.

Lithium prices down, but demand remains resilient

Lithium prices have come off their historic highs of 2021–2022, when a global EV boom and constrained supply sent costs soaring above US$70 per kilogram.

But that surge spurred rapid supply growth, and by late 2022, the market entered a surplus. Prices have since declined sharply and now sit near levels that are not considered economically viable for many new or greenfield projects.

Despite the pricing downturn, Sheorey emphasized that demand for lithium has not collapsed. During the company’s earnings call, he maintained that demand has held up better than expected this year, pointing to robust growth in China and Europe that is offsetting a more subdued US market.

“The outlook in North America is less certain, particularly in the United States due to the potential impact of tariffs and the removal of the 30D tax credit in September,” Sheorey said, adding that the US accounts for only about 10 percent of global electric vehicle sales.

In contrast, EV sales in China rose 41 percent year-to-date, including a 44 percent jump in battery electric vehicles spurred by recent subsidies, while Europe also showed double-digit growth.

Still, Sheorey cautioned that pricing remains under pressure. “We continue to expect the full-year EBITDA margin [for energy storage] to average in the mid-20 percent range assuming our $9 per kilogram price scenario,”

According to Albemarle’s internal analysis, the market could return to balance as early as next year if current price levels persist. “New project development has begun to slow, while demand continues to be robust,” the company said. It estimates that demand growth could outstrip supply growth by up to 10 percent per year between 2024 and 2030.

Much of the company’s current optimism stems from performance at its integrated production and processing facilities, particularly due to strong volumes from Albemarle’s Wodgina mine and the Salar yield improvement project.

With lithium demand expected to more than double by 2030, Albemarle is betting that its investments in operational excellence and global reach will pay off once the market stabilizes.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Silver Crown Provides Corporate Update

Investing 6 Mins Read

 

(TheNewswire)

 

   

   
     

 

TORONTO, ON, August 1, 2025 TheNewswire – Silver Crown Royalties Inc. ( Cboe: SCRI,OTC:SLCRF; OTCQX: SLCRF; FRA: QS0) ( ‘Silver Crown’ ‘SCRi’ or the ‘Company’ ) announces that it has become aware that Gold Mountain Mining Corp. (‘ Gold Mountain ‘) and its two subsidiaries, Bayshore Minerals Incorporated and Elk Gold Mining Corporation (‘ Elk Gold ‘) have been placed under receivership proceedings.

 

  The Company holds the Elk Gold royalty pursuant to the royalty agreement with Elk Gold (the ‘   Elk Gold Royalty   ‘) (for more information see the Company’s continuous disclosure documents available under the Company’s profile on SEDAR+ available at sedarplus.ca). The Company is currently closely monitoring this situation and will update its shareholders and the market of any material developments.  

 

  Peter Bures, CEO of the Company, stated: ‘Silver Crown’s prudent approach to royalty agreements and diversification was designed to offer a buffer against these types of events. This strategy will allow us to maintain our forward momentum in terms of additional growth in revenues’.  

 

  ABOUT Silver Crown Royalties INC.  

 

  Founded by industry veterans, Silver Crown Royalties (   Cboe:   SCRI |   OTCQX:   SLCRF |   BF:   QS0   ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.   For further information, please contact:  

 

  Silver Crown Royalties Inc.  

 

  Peter Bures, Chairman and CEO  

 

  Telephone: (416) 481-1744  

 

  Email:   pbures@silvercrownroyalties.com  

 

  FORWARD-LOOKING STATEMENTS  

 

  This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.  

 

  This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions   from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.  

 

  CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.  

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

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Investing

Crypto Market Update: Markets Pull Back After Fed Holds Interest Rates Steady

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (July 30) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$16,964, down by 0.5 percent over the last 24 hours. Its highest valuation on Wednesday was US$118,644, while its lowest valuation was US$116,079.

Bitcoin price performance, July 30, 2025.

Chart via TradingView.

Markets rallied briefly following the release of the White House’s crypto policy report, which calls for greater clarity from the US Securities and Exchange Commission, as well as new legislation to regulate digital assets.

A pullback came after the US Federal Reserve left interest rates unchanged and warned of slowing economic growth.

Ethereum (ETH) was priced at US$3,764.26, down by 0.1 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,708.13, and its highest was US$3,820.17.

Altcoin price update

  • Solana (SOL) was priced at US$176.09, down by 2.9 percent over 24 hours. Its lowest valuation on Wednesday was US$173.22, and its highest was US$179.83.
  • XRP was trading for US$3.10, down by 0.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.04, and its highest valuation was US$3.15.
  • Sui (SUI) is trading at US$3.77, down 1.3 percent over the past 24 hours. Its lowest valuation of the day was US$3.66, and its highest was US$3.81.
  • Cardano (ADA) was trading at US$0.7600, down by 2.3 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7414, and its highest was US$0.7759.

Today’s crypto news to know

Ethereum marks a decade since launch

Ethereum marked its 10th anniversary on Wednesday as corporate interest continues to grow.

The Ethereum network launched in 2015 and has since maintained uninterrupted uptime, becoming the backbone of the decentralized finance (DeFi) movement. In the lead up to the milestone, ETH approached US$4,000, driven in part by renewed institutional inflows and growing confidence in the asset’s long-term utility.

The Ethereum Foundation will commemorate the milestone by issuing celebratory non-fungible tokens and organizing more than 100 events globally. A live broadcast featuring Vitalik Buterin, Joseph Lubin and Tim Beiko will also be hosted to reflect on the network’s origins and future direction.

SEC greenlights in-kind ETP creations and redemptions

On Tuesday (July 29), the Securities and Exchange Commission (SEC) gave approval for in-kind creations and redemptions by authorized participants for crypto asset exchange-traded products (ETPs).

“It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” said Chair Paul Atkins in the announcement.

“Investors will benefit from these approvals, as they will make these products less costly and more efficient.

“Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors. This decision aligns with the standard practices for similar ETPs.”

Authorized institutions can now directly exchange crypto assets like Bitcoin or Ethereum for shares of a crypto ETP, and vice versa, making these products more efficient and potentially cheaper to manage.

Lummis proposes bill to allow digital assets for mortgages

In a Tuesday notice, Wyoming Senator Cynthia Lummis introduced the 21st Century Mortgage Act, which could compel mortgage purchasers to consider digital assets in applications. Lummis said the legislation would initiate congressional action following a June order from the US Federal Housing Finance Agency mandating that US mortgage purchasers Fannie Mae and Freddie Mac “consider cryptocurrency as an asset for single-family loans.”

“This legislation embraces an innovative path to wealth-building, keeping in mind the growing number of young Americans who possess digital assets,” said Lummis.

A similar crypto mortgage proposal, the American Homeowner Crypto Modernization Act, was introduced by Republican Representative Nancy Mace on July 14. Mace’s proposed bill would mandate that mortgage lenders incorporate the value of a borrower’s digital assets held in cryptocurrency brokerage accounts into their mortgage credit evaluations.

The bill is one of three that the Senate may consider after a month-long recess, alongside a digital asset market structure bill and a bill aimed at barring the Federal Reserve from launching a central bank digital currency.

eToro expands 24/5 trading and tokenizes US stocks

eToro Group (NASDAQ: ETOR) announced plans to expand its current 24/5 trading for 100 popular US stocks and exchange-traded funds, meaning customers can now trade these assets five days a week, almost around the clock.

“We’re expanding a lot of the trading universe and trading hours on the eToro platform. Announced today, more 24-hour stock trading on the platform, as well as near 24/5 trading on exchange CME traded futures, a new type of futures product,” said co-founder and CEO Yoni Assia about the move on Tuesday. “That’s very exciting for our users worldwide. And very excited also about revamping tokenization in eToro, launching those 100 stocks that trade 24/5 on the eToro platform as tokenized assets, gradually available to people with the eToro crypto wallet.”

The company also launched tokenized versions of these same US stocks as ERC20 tokens on the Ethereum blockchain.

This will eventually enable true 24/7 trading and transfers, and is part of eToro’s strategy to tokenize all assets on their platform and integrate them into the broader decentralized finance world. The company is also rolling out spot-quoted futures with CME Group (NASDAQ:CME), a simpler futures product, currently in Europe, with plans for wider availability.

Trump working group calls for aggressive federal action on crypto markets

A White House-appointed working group on digital asset markets has released a sweeping set of recommendations to overhaul US crypto policy, according to a preview. The group, which was established under a January executive order from President Donald Trump, is urging Congress to pass the Digital Asset Market Clarity Act and calling on regulators to use existing powers to support immediate crypto market growth.

The report recommends that the Commodity Futures Trading Commission be granted broader oversight over spot markets for non-security tokens and that safe harbor provisions be used to accelerate product launches.

It also advises federal banking regulators to clarify permissible crypto-related bank activities and modernize capital rules to reflect token-based risks.The Trump administration said the proposals would help ensure US leadership in the “blockchain revolution” and usher in a “golden age of crypto.”

JPMorgan to let Chase customers buy crypto via Coinbase

JPMorgan Chase (NYSE:JPM) has announced a major partnership with Coinbase Global (NASDAQ:COIN) that will allow Chase credit card users to purchase cryptocurrencies directly from the exchange.

The service is expected to roll out in fall 2025, with full account-linking functionality available by 2026. Customers will also be able to redeem Chase credit card reward points for USDC, a stablecoin pegged to the US dollar.

The move marks a notable shift in the firm’s stance toward crypto, going from a cautious observer to an active participant in retail-focused blockchain infrastructure. With crypto’s total market cap recently crossing US$4 trillion, large banks are now racing to integrate digital asset capabilities into their core offerings.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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