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May 11, 2025

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Want to know where the stock market is headed next? In this week’s market update, Mary Ellen McGonagle analyzes key resistance levels and reveals what’s fueling the current uptrend. She highlights top bullish setups among U.S. leadership stocks, plus global names showing strength.

This video originally premiered May 9, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Is a recession coming? In this video, Julius breaks down the latest updates to his powerful Sector Rotation Model, analyzing four key macroeconomic indicators and their impact on sector performance.

This video was originally published on May 9, 2025. Click on the icon above to view on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

The US Federal Reserve met on Tuesday (May 6) and Wednesday (May 7) for the third time in 2025. Ultimately, the committee decided to maintain its benchmark rate in the 4.25 to 4.5 percent range that was last set in November 2024.

Fed Chair Jerome Powell cited balance in the central bank’s dual mandate of price stability and maximum employment, but noted that the Trump administration’s tariffs have been more aggressive than anticipated. This was a prime factor in the Fed’s rate decision — officials are waiting for more data on how tariffs will affect inflation and employment.

On Thursday (May 8), the White House announced a trade deal with the UK. Although initial details of the deal were limited, what was provided indicates the UK will reduce or eliminate non-tariff barriers for US products and companies.

Among them are provisions for improved access to the UK market for US farmers and cattle ranchers and an increase in US ethanol exports. In exchange, the US will ease tariffs on British auto imports, with the first 100,000 vehicles being taxed at the 10 percent reciprocal rate and 25 percent on any additional vehicles.

Additionally, new negotiations will be held for an alternative arrangement to tariffs on steel and aluminum products from the UK. However, the deal does not remove the 10% reciprocal tariffs on any imports from the UK.

North of the border, Statistics Canada released its April labor force survey on Friday (May 9). The data showed little change in employment throughout the month, with just 7,500 jobs added to the workforce. Meanwhile, the employment rate declined 0.1 percent to 60.8 percent and the unemployment rate ticked up 0.2 percent to 6.9 percent.

The biggest increase of 37,000 new jobs was owed to the hiring of temporary workers related to the recent federal election. The next highest gains were in the finance, insurance and real estate sector, where 24,000 workers were added. The biggest losses were felt in manufacturing, which declined by 31,000 workers, and wholesale and retail trade, which shed 27,000 workers.

Markets and commodities react

In Canada, major indexes were mixed at the end of the week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.46 percent during the week to close at 25,357.74 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 3.57 percent to 683.4 and the CSE Composite Index (CSE:CSECOMP) falling 0.41 percent to 119.12.

US equities were flat this week, with the S&P 500 (INDEXSP:INX) flat gaining 0.08 percent to close at 5,659.90, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 0.67 percent to 20,061.45 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 0.18 percent to 41,249.37.

The gold price strengthened in the middle of the week but remained off recent highs, but still managed to post a 2.72 percent gain, closing out Friday at US$3,328.93.

The silver price was also up, rising 2.38 percent during the period to US$32.76.

In base metals, the COMEX copper price was flat, falling just 0.64 percent over the week to US$4.66 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) rose 2.18 percent to close at 531.54.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Group Eleven Resources (TSXV:ZNG)

Weekly gain: 69.44 percent
Market cap: C$53.2 million
Share price: C$0.305

Group Eleven Resources is an exploration company working to advance its flagship PG West zinc, lead, copper and silver project in the Republic of Ireland. The wholly owned asset consists of 22 prospecting licenses covering 650 square kilometers and hosts the main Ballywire prospect, which was discovered in 2022.

Shares in Group Eleven gained this past week after an exploration announcement on Thursday.

The company reported assay results from four holes at Ballywire, with one highlighted copper and silver result recording grades of 1.46 percent copper and 356 grams per metric ton (g/t) silver over 19.9 meters.

It includes an intersection of 3.72 percent copper and 838 g/t silver over 6.4 meters.

It also reported an additional zinc, lead and silver hole with grades of 3.1 percent zinc, 1.4 percent lead and 22 g/t silver over 47.1 meters, which included an intersection of 7.7 percent zinc, 3.2 percent lead and 57 g/t silver over 12.9 meters.

2. Element 29 Resources (TSXV:ECU)

Weekly gain: 66.67 percent
Market cap: C$61.62 million
Share price: C$0.50

Element 29 Resources is an exploration company focused on advancing a portfolio of projects in Peru.

Its primary projects consist of the Elida copper-molybdenum-silver project in West-Central Peru and the Flor de Cobre project in the Southern Peruvian copper belt. The Elida site is composed of 29 concessions covering 19,749 hectares and hosts five distinct exploration targets within a 2.5 by 2.5 kilometer alteration system.

A September 2022 resource estimate shows an inferred resource of 321.7 million metric tons (MT) containing 2.24 billion pounds of copper at a grade of 0.32 percent, 205.7 million pounds of molybdenum at a grade of 0.03 percent and 27 million ounces of silver at 2.61 percent.

The company’s less explored Flor de Cobre project is composed of 11 mining concessions and one mining claim covering 3,135 hectares. The company announced in March that it received environmental permitting for the site and would be partnering with the GlobeTrotters Resource Group, which discovered Elida, on exploration at For de Cobre.

Shares of Element 29 posted gains this week, but the company did not share any news.

3. Giant Mining (CSE:BFG)

Weekly gain: 56.1 percent
Market cap: C$18.48 million
Share price: C$0.32

Giant Mining is an exploration company working to advance its Majuba Hill District copper, silver and gold project north of Reno, Nevada. The site consists of 403 federal lode mining claims and four private property parcels that cover an area of 3,919 hectares. Mining at the property took place between 1900 and 1950, resulting in the production of 2.8 million pounds of copper, 184,000 ounces of silver and 5,800 ounces of gold.

Extensive exploration work has been carried out at Majuba Hill, with 89,930 feet being drilled since 2007.

The most recent news from the project includes a pair of releases this week.

First, on Wednesday, the company announced that it has completed four of the five planned drill holes in its 2025 exploration program, with one of the samples sent to the lab for analysis.

The second release came on Thursday, when Giant announced that it has begun drilling the final hole of the program and expected to reach a depth of 1,000 feet. The company said the current program was designed with artificial intelligence to expand the known zones of copper mineralization and advance the project toward a mineral resource estimate.

4. PPX Mining (TSXV: PPX)

Weekly gain: 55.56 percent
Market cap: C$44.58 million
Share price: C$0.07

PPX Mining is a precious metals company that is focused on its Igor project, which contains the operating Callanquitas underground mine, located in the Otuzco province of Northern Peru.

An updated resource estimate for Callanquitas released by the company in January 2024 shows measured and indicated amounts as oxides of 81,090 ounces of gold and 2.9 million ounces of silver. The inferred resource as sulfides stands at 34,450 gold equivalent ounces at 4.63 g/t gold equivalent.

In a prefeasibility study for Igor, which was amended in January 2022, the company indicates that the 1,300 hectare site previously hosted small-scale mining operations and holds a 50 MT per day gold-processing plant from the 1980s. In November 2024, PPX announced that it had started construction of a 350 MT per day carbon-in-leach and flotation plant that will be used to process oxide and sulfide ore from Callanquitas.

The latest construction update came on March 26, when the company said major plant equipment was ready to ship from China. The equipment includes crushing plant units, metal detectors, ball mills and flotation cells. The company has not provided a further update on the timeline for when the shipments would arrive on site.

The most recent news from PPX came on Monday (May 5), when it announced that it had closed an oversubscribed non-brokered private placement. The terms of the funding will see the company issue 17.83 million shares for gross proceeds of C$802,303. Funding raised will be used for further exploration of Callanquitas and general working capital.

5. Triumph Gold (TSXV:TIG)

Weekly gain: 50 percent
Market cap: C$11.97 million
Share price: C$0.03

Triumph Gold is an explorer and developer advancing projects in the Yukon and BC, Canada.

Its three properties in the Yukon are all within the Dawson Range and consist of its flagship Freegold Mountain project, which has 20 identified mineral resources hosting gold, silver, copper, molybdenum, lead and zinc deposits; the Tad/Toro copper, gold and molybdenum project; and the Big Creek copper and gold project.

Triumph’s property in Northern BC is called Andalusite Peak.

The most recent update from the company came on Wednesday, when it announced it has refined its exploration focus on geochemical surveys and detailed geological mapping at the Andalusite Peak project, as well as defining new targets at Freegold Mountain. Additionally, the company said it has engaged Independent Trading Group to provide market-making services and enhance the liquidity of common shares.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (May 9) 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$103,116 as markets closed for the week, up 2 percent in 24 hours.

The day’s range has seen a low of US$102,526 and a high of US$103,636. After breaking through the US$100,000 threshold on Thursday (May 8), the digital asset has found support.

Bitcoin performance, May 9, 2025.

Chart via TradingView.

The crypto market’s surge is attributed to positive geopolitical developments, particularly surrounding a US-UK trade agreement and optimism over upcoming trade talks with China.

A better-than-expected jobs report also reignited institutional interest. Meanwhile, the MOVE index has cooled from its late March-early April spike, encouraging broader risk-taking across financial markets.

On the technical side, Bitcoin’s realized cap has hit an all-time high above US$893 million. Cointelegraph’s Marcel Pechman notes that strong options activity suggests that prices above US$105,000 could fuel further gains. Analyst Egrag Crypto is forecasting a rally to US$170,000, contingent on Bitcoin breaking past its previous all-time high of US$109,000.

However, with Bitcoin’s relative strength index approaching 70, overbought conditions are emerging, and investors are urged to be cautious of short-term volatility.

Ethereum’s (ETH) price surge has outperformed that of Bitcoin and can be attributed to an increase in transactions following Wednesday’s (May 7) Pectra upgrade. ETH’s price has increased by over 25 percent from last week and 42 percent month-on-month. It finished the week at US$2,325.35, a 10 percent increase over 24 hours.

The day’s range saw a low of US$2,288.24 and a high of US$2,372.09.

Altcoin price update

  • Solana (SOL) closed at US$171.67, up 7.1 percent over 24 hours. SOL experienced a low of US$168.64 and a high of US$172.75.
  • XRP was trading at US$2.35, reflecting a 3.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.33 and a high of US$2.40.
  • Sui (SUI) was priced at US$3.89, showing a decreaseof 0.6 percent over the past 24 hours. It achieved a daily low of US$3.87 and a high of US$4.03.
  • Cardano (ADA) was trading at US$0.7799, up 5.5 percent over the past 24 hours. Its lowest price of the day was US$0.7763, and it reached a high of US$0.7953.

Today’s crypto news to know

Coinbase to acquire Deribit in US$2.9 billion crypto derivatives deal

Coinbase has announced plans to acquire Deribit, a leading crypto derivatives exchange, for $2.9 billion — the largest deal in the crypto industry to date. This strategic move positions Coinbase to expand its offerings in the crypto options market, catering to the growing demand for advanced trading products.

The acquisition includes US$700 million in cash and 11 million shares of Coinbase Class A common stock.

Deribit, which processed US$1.2 trillion in trading volume last year, controls approximately 85 percent of the global crypto options market. This deal is expected to enhance Coinbase’s presence in the international derivatives market and diversify its revenue streams. Analysts view the acquisition as a significant step for Coinbase to compete with other major exchanges like Binance and Kraken in the derivatives space. The transaction is subject to regulatory approvals and is anticipated to close later this year. Until then, Deribit will continue its operations as usual.

Rumble’s crypto wallet launch and Q1 earnings

Rumble’s (NASDAQ:RUM) CEO confirmed the firm will launch a Bitcoin and stablecoin wallet to compete with the Coinbase Wallet in Q3. The Rumble Wallet will launch in partnership with Tether.

“Our goal is to become the most prominent non-custodial Bitcoin and stablecoin wallet, powering the creator economy,” according to a May 9 (Friday) X post by Chris Pavlovski.

On the earnings front, Rumble reported a net loss of US$2.7 million for Q1 on Thursday, a significant improvement over the US$43 million loss reported in Q1 2024. The company’s revenue of US$23.7 million exceeded analysts’ estimates; however, the firm reported a decrease in monthly active users to 59 million, down from 68 million in Q4 2024.

Rumble opened 2.44 percent higher on Friday (May 9) and closed the week with a gain of over 17 percent.

Meta’s potential stablecoin integration

Meta Platforms (NASDAQ:META) is reportedly in discussions with cryptocurrency enterprises regarding the potential implementation of stablecoins for select, smaller-scale creator disbursements.

Five informed sources told Fortune that the corporation has engaged in consultative deliberations with multiple cryptocurrency infrastructure providers, albeit without having yet settled upon a definitive strategic approach.

An insider suggests that the entity may adopt a multi-token framework, encompassing the integration of established stablecoins such as Tether’s USDt and Circle’s USD Coin, amongst other alternatives.

This news comes the day after Democratic lawmakers withdrew support for the GENIUS Act after concerns arose over the lucrative crypto dealings of companies tied to US President Donald Trump. The bill stalled on the floor of the Senate, prompting a public statement from US Treasury Secretary Scott Bessent:

“This bill represents a once-in-a-generation opportunity to expand dollar dominance and US influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.’

Celsius founder sentenced to 12 years for crypto fraud

Alex Mashinsky, founder and former CEO of Celsius Network, has been sentenced to 12 years in federal prison for defrauding customers and manipulating the price of the company’s CEL token.

Between 2018 and 2022, Mashinsky misled investors about the safety of their funds, using customer deposits to inflate CEL’s value and personally profiting over US$48 million. Celsius, which once managed over US$25 billion in assets, collapsed in 2022 amid a broader crypto market downturn, leaving thousands of users unable to access their funds.

SEC considers crypto exemptions

The US Securities and Exchange Commission (SEC) is “considering a potential exemptive order” to let crypto firms bypass requirements to register as a broker-dealer, clearing agency exchange to issue, trade and settle securities. SEC Commissioner Hester Peirce made the announcement in a speech published on Thursday.

Companies would still be expected to comply with rules to prevent fraud and market manipulation and may also need to meet certain disclosure and recordkeeping requirements.

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.

This post appeared first on investingnews.com

This week proved pivotal for the tech and energy sectors as market dynamics and the regulatory landscape shifted.

Apple (NASDAQ:AAPL) made waves by signaling a foray into artificial intelligence (AI) search and challenging app store regulations, while OpenAI underwent a major restructuring amid legal battles with Elon Musk.

Meanwhile, legislation targeting AI chip tracking gained momentum, and the nuclear energy sector saw increased activity with Ontario Power Generation’s new reactor project and potential White House actions.

Earnings reports from major players like Palantir (NASDAQ:PLTR), AMD (NASDAQ:AMD), Arm Holdings (NASDAQ:ARM) and Super Micro Computer (NASDAQ:SMCI) painted a complex picture of growth and challenges in a turbulent economic environment.

The interplay of innovation, regulation and market forces played out against a backdrop of trade developments between the US and the UK, with optimism regarding forthcoming negotiations with China boosting sentiment toward the end of the week.

Read on to dive deeper into this week’s top stories.

1. Apple’s App Store appeal, AI search plans and chip news

Apple is formally contesting last week’s judicial ruling mandating a reduction in its App Store commission.

The company filed an appeal against the order that would compel it to lower the existing 27 percent fee imposed on businesses offering links within their apps to external payment processing alternatives.

In related news, Apple executive Eddy Cue revealed during federal court testimony that the tech giant is investigating the development of its own AI-powered search engine for the Safari web browser. The news had an immediate impact on Alphabet’s (NASDAQ:GOOGL) shares, resulting in a 9 percent decline on Wednesday (May 7) afternoon.

In other news, Apple is reportedly making advances in its in-house silicon development.

The company is designing new proprietary chips intended to serve as the main central processing units for a range of future Apple products. These include anticipated devices such as smart glasses, more powerful iterations of its Mac computer line and specialized AI servers.

Combined with this week’s macroeconomic and geopolitical developments, Apple’s share price experienced turbulence, ultimately closing 2.25 percent below Monday’s (May 5) opening price on Friday (May 9).

2. OpenAI announces restructuring, acquisition and leadership changes

In a notable week for AI giant OpenAI, CEO Sam Altman shared a reorganization strategy on Monday, announcing that its operational arm will transition into a new public benefit corporation, with its non-profit arm acting as the primary shareholder. The decision follows talks with civic leaders and state attorneys general.

A person familiar with the matter told Business Insider that the new plan will let the company receive the full US$30 billion investment from SoftBank (TSE:9984). Meanwhile, sources told Bloomberg on Monday that Microsoft (NASDAQ:MSFT) and OpenAI are still in negotiations regarding a restructuring plan. A later report from the Information reveals that OpenAI plans to slash its 20 percent revenue-sharing agreement with Microsoft to 10 percent by 2030.

Regarding the ongoing legal dispute between Sam Altman and Tesla (NADAQ:TSLA) CEO Musk, who alleges that the company has strayed from its founding mission, Musk’s attorney, Marc Toberoff, told Reuters on Monday that the team intends to proceed with the lawsuit. Toberoff also called the restructuring a “cosmetic” move that turns charitable assets into private wealth, adding that “the founding mission remains betrayed.”

In other news, OpenAI made its largest acquisition to date this week, agreeing to buy AI-assisted coding tool Windsurf for about US$3 billion, and named ex-Instacart (NASDAQ:CART) CEO Fidji Simo as its new head of applications.

According to reports, Simo will manage operations and report directly to Sam Altman, who will retain his title as CEO. Altman will shift his focus to research, safety efforts and advancing artificial general intelligence.

3. AI chip regulatory developments

US Representative Bill Foster is preparing to introduce legislation aimed at tracking the location of AI chips, such as those produced by NVIDIA (NASDAQ:NVDA), after they are sold.

The proposed bill, first reported by Reuters on Monday, would task US regulators with developing rules to monitor these chips, ensuring they remain in authorized locations under export control licenses.

It would also seek to prevent unlicensed chips from being activated outside of authorized locations.

In other chip-related news, NVIDIA shares rose following news that the Trump administration plans to eliminate the so-called “AI diffusion rule.” However, a spokesperson from the US Department of Commerce clarified upcoming plans in a statement to CNBC’s Kif Leswing on Wednesday, commenting:

“The Biden AI rule is overly complex, overly bureaucratic, and would stymie American innovation. We will be replacing it with a much simpler rule that unleashes American innovation and ensures American AI dominance.”

The announcement highlights the Trump administration’s intention to keep some guardrails in place to protect US interests, despite pushback from tech industry executives.

At a Congressional hearing on Thursday (May 8), OpenAI CEO Sam Altman emphasized the importance of maintaining US leadership in AI development. He cautioned against overregulation, warning that poorly designed rules could hinder America’s competitive edge, particularly against China.

4. Palantir, AMD, Arm and Super Micro share results

Palantir’s Q1 revenue rose 39 percent year-on-year to US$884 million, driven by demand for its data analytics software in the US. The company expects demand to continue, forecasting Q2 revenue between US$934 million and US$938 million. Palantir’s share price fell by 8 percent after hours as investors anticipated even stronger results. The company posted a loss of 5.6 percent for the week after a volatile week for tech stocks, as overvaluation concerns persist.

Advanced Micro Devices’ Q1 earnings report shows quarterly revenue of US$7.4 billion, an annual increase of 36 percent, with adjusted earnings per share of US$0.96. Despite an initial 7 percent stock surge following a positive quarterly report, AMD shares fell following the company’s announcement of a projected US$1.5 billion revenue decrease this year, attributed to US government limitations on the sale of AI chips to China.

Palantir, Super Micro, AMD and Arm performance, May 6 to 9, 2025.

Chart via Google Finance.

For Q4 2024, Arm Holdings reported quarterly revenue of more than US$1 billion for the first time in its history, but forecast revenue and profit for Q1 2025 below Wall Street estimates, resulting in a 4 percent slump on Thursday morning

Super Micro Computer’s net sales increased from US$3,85 billion in Q3 2024 to US$4.6 billion, while the company’s earnings per share fell year-on-year from US$0.66 to US$0.17.

The company lowered its full-year revenue guidance from US$23.5 billion to US$25 billion, down to US$21.8 billion to US$22.6 billion, with trade war-induced uncertainty and increasing competition cited as obstacles to growth. The company’s share price opened over 5 percent lower the next day and fell by over 3 percent this week.

5. Constellation shares jump, White House plans reactor push

Shares of Constellation Energy (NASDAQ:CEG) rose nearly 10 percent in two days ahead of the Tuesday (May 6) release of its Q1 earnings report, which revealed revenue that exceeded expectations by over 20 percent.

Later, during an earnings call, CEO Joe Dominguez said the company was close to inking multiple long-term deals to provide nuclear power to meet surging energy demands, further bolstering investors’ optimistic outlook.

In another significant development within the nuclear energy sector, Ontario Power Generation said it has secured the necessary approvals to commence construction on the first of four small modular reactors (SMR) designed by GE Verona (NYSE:GEV), which will be located at the company’s Darlington site near Toronto.

The Darlington project is anticipated to be the first deployment of this particular SMR technology within a G7 nation.

Separately, Axios reported on Tuesday that sources familiar with the matter say the White House is in the final stages of preparing executive actions intended to accelerate the deployment of nuclear reactors. These plans, reportedly under consideration for several weeks, could be officially announced imminently.

On Friday, NPR said its reporters have seen a draft of such an order. According to the report, the order instructs the Nuclear Regulatory Commission (NRC) to send new reactor safety guidelines to the White House for review and possible amendments. The draft also calls for a reduction of NRC’s staff and a “wholesale revision of its regulation” in coordination with the administration and the Department of Government Efficiency.

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

This post appeared first on investingnews.com

Russian President Vladimir Putin has proposed holding “direct talks” with Ukraine on Thursday in Istanbul, as European leaders and the United States attempt to put pressure on Moscow to agree to a 30-day ceasefire in order to bring an end to the three-year conflict.

“We would like to start immediately, already next Thursday, May 15, in Istanbul, where they were held before and where they were interrupted,” Putin said in a rare late-night televised address. He emphasized the talks should be held “without any preconditions.”

“We are set on serious negotiations with Ukraine,” Putin said, adding they are intended to “eliminate the root causes of the conflict” and “reach the establishment of a long-term, durable peace.”

The proposal came just hours after the leaders of Germany, France, the United Kingdom and Poland told Putin to agree to a 30-day ceasefire starting on Monday or face possible “massive sanctions,” according to French President Emmanuel Macron, on a highly symbolic visit to Kyiv.

The demand comes with the backing of the White House after a joint phone call with US President Donald Trump, the Europeans said.

Shortly after the leaders called for a ceasefire, Kremlin spokesperson Dmitry Peskov said that Russia is “resistant to any kind of pressure.”

“Europe is actually confronting us very openly,” Peskov said, adding that Putin supports the idea of a ceasefire “in general,” but “there are lots of questions” about the recent proposal that still need answering. He did not expand on what these questions are.

Putin said Sunday he would speak with Turkish President Recep Tayyip Erdogan about holding talks with Kyiv.

This is a developing story and will be updated.

This post appeared first on cnn.com

Five fishermen who spent 55 days adrift at sea arrived Saturday at a port in the Galapagos Islands after being rescued by a tuna boat, the Ecuadorian navy said on X.

The three Peruvians and two Colombians had been missing since mid-March and were found on May 7 by an Ecuadorian boat called Aldo.

The fishermen had reported damage to the boat’s alternator two days after setting sail from Pucusana Bay, to the south of Peru’s capital Lima, the navy said in a separate post on Friday.

The failure caused communication and navigation tools to malfunction, Ecuadorian navy Frigate Capt. Maria Fares told The Associated Press, adding that they had no power on the boat.

“They had no starter, lights and everything that a battery generates,” she said. To survive, they had to “take rusted water out of the engine (and) when a fish passed by, they caught it and parboiled it to eat.” Fares added that they also drank rain and sea water to survive.

The men are in stable condition and the navy said it is coordinating with local and foreign authorities to ensure their safe return to their respective countries.

Earlier this year, another Peruvian fisherman, 61-year-old Máximo Napa, spent 95 days at sea alone. He was also rescued by an Ecuadorian vessel and returned to Lima in mid-March to be reunited with his family.

This post appeared first on cnn.com

Police on a Japanese holiday island have arrested three Chinese nationals after thousands of protected hermit crabs were found stuffed into multiple suitcases.

The three suspects – Liao Zhibin, 24, Song Zhenhao, 26, and Guo Jiawei, 27 – were found to have 160 kilograms (353 pounds) of the live crustaceans in their possession on Wednesday, according to police on the Amami Islands, near Okinawa.

Police said a hotel worker in Amami, a city on the island of Amami Oshima, alerted environmental authorities after spotting something suspicious about the suitcases the three men had asked hotel staff to watch.

Officers later arrived at the hotel and found the spiral-shelled hermit crabs stuffed into six suitcases, according to police.

When they returned to the hotel on Wednesday, the three men were arrested for possessing the crustaceans without proper authorization, Kyodo News reported.

It’s unknown why the three men were transporting the crustaceans.

The Amami archipelago, off southwestern Kyushu and just north of Okinawa, is a popular tourist destination and known to be home to a diverse array of native plants and animals.

This post appeared first on cnn.com

They are considered one of the world’s most dangerous, and indiscriminate, weapons. Yet five European countries have turned their backs on an international treaty on the use of landmines, citing the growing threat from Moscow.

Finland, Poland, Latvia, Estonia and Lithuania – which all border Russia – have made moves to pull out of the Ottawa Treaty, the agreement that bans the use of anti-personnel landmines, which are designed to kill or maim if stepped on.

The developments have alarmed campaigners, who see the reintroduction of the weapons – which have killed or disfigured tens of thousands of civilians around the world and can contaminate an area for decades after a conflict ends – as a concerning regression.

The treaty, which also bans the weapons’ production and stockpiling, was signed in 1997, and was one of a series of agreements negotiated after the Cold War to encourage global disarmament. Since then, it has been credited with significantly reducing the harm from landmines.

Responding to Finland’s decision to leave the agreement, human rights NGO Amnesty International warned that the Nordic nation was endangering civilian lives, describing it as a “disturbing step backwards.”

The decision “goes against decades of progress on eliminating the production, transfer and use of inherently indiscriminate weapons,” the NGO warned.

At the start of this year, the pact had 165 member states. But major powers, including Russia, China, India, Pakistan and the United States, never signed up to it.

In a joint statement in March, Poland and the three Baltic states announced their withdrawal, arguing for a rethink on which weapons are – and which ones are not – acceptable in the face of Russia’s aggression.

The countries said they needed to provide their armed forces with greater “flexibility and freedom of choice,” to help them bolster the defense of NATO’s eastern flank.

The following month, in April, Latvia became the first country to formally withdraw from the treaty after its parliament strongly backed the proposal, meaning that after a grace period of six months, Riga would be able to start amassing landmines again.

Also that month, Finland unveiled plans to join Latvia. Explaining the decision, Finland’s Prime Minister Petteri Orpo told journalists that Russia poses a long-term danger to the whole of Europe. “Withdrawing from the Ottawa Convention will give us the possibility to prepare for the changes in the security environment in a more versatile way,” he said.

The announcements come as U.S. President Donald Trump has doubled down on efforts to wrap up the war in Ukraine, which has stoked fears in neighboring states that Moscow could re-arm and target them instead.

Keir Giles, a senior consulting fellow of the Russia and Eurasia program at the thinktank Chatham House and author of the book “Who will Defend Europe?,” believes that if and when Russia’s grinding conflict in Ukraine does come to an end by whatever means, Moscow will be readying itself for its next target.

For Giles, the military benefits of using landmines are clear. The underground explosives, he said, can slow an invasion, either by redirecting oncoming troops to areas that are easier to defend, or by holding them up as they attempt to breach the mined areas.

They can be particularly beneficial for countries looking to defend themselves against an army with greater manpower. “They are a highly effective tool for augmenting the defensive forces of a country that’s going to be outnumbered,” he said.

He believes the five countries leaving the treaty have looked at the effectiveness of the weapons, including their use in Russia’s war on Ukraine, in deterring invading forces.

However, he stressed that the Western countries wouldn’t use landmines in the same way as Moscow’s forces, saying there were “very different design philosophies” in the manufacturing of mines and cluster munitions between countries that aren’t concerned with civilian casualties or may willingly try to cause them, and those that are trying to avoid them.

In Ukraine, extensive Russian minefields laid along Ukraine’s southern front lines significantly slowed a summer counteroffensive launched by Ukraine in 2023.

Ukraine is deemed by the United Nations to be the most heavily mined country in the world. In its most recent projections, Ukraine’s government estimates that Moscow’s forces have littered 174,000 square kilometers (65,637 square miles) of Ukraine’s territory with landmines and explosive remnants.

This means Ukrainian civilians, particularly those who have returned to areas previously on the front lines of the fighting, are faced with an ever-present risk of death.

“The large-scale contamination of land by explosive ordnance has created an ‘invisible threat’ in people’s minds,” Humanity & Inclusion, an international charity helping those affected by poverty, conflict, and disaster, warned in a February report on the use of landmines in Ukraine. “As a result, people’s movements are extremely reduced or restricted, they can no longer cultivate their land and their social, economic, or professional activities are hindered.”

According to findings from Human Rights Watch published in 2023, Ukraine has also used antipersonnel landmines during the conflict and has received them from the US, despite Kyiv being a signatory of the 1997 ban.

In comparison, Finland, Poland and the Baltic nations say they would remain committed to their humanitarian principles when using the explosives, despite withdrawing from the ban.

When announcing its plans to leave the Ottawa Treaty, Helsinki stressed it would use the weapons in a humane manner, with the country’s president Alexander Stubb writing on X, “Finland is committed to its international obligations on the responsible use of mines.”

While the responsible use of landmines is a complex issue, measures to reduce civilian harm can include making precise records of minefields and their locations, educating communities to their dangers and the clearance or neutralization of the weapons once the conflict is over.

‘Disturbing step backwards’

Despite such pledges of responsibility, the move away from the Ottawa Treaty has left campaigners horrified.

Landmines have killed or maimed tens of thousands of civilians across the world and continue to cause harm. In its 2024 report, the Landmine and Cluster Munition Monitor found that at least 5,757 people were killed and wounded by mines and explosive remnants of war across the globe in 2023, with civilians making up 84% of that number.

Alma Taslidžan, from Bosnia, was displaced from her homeland during the war of the early 90s, only to return with her family to a country laced with landmines – a contamination issue she says plagues the country to this day.

Now working for disability charity Humanity & Inclusion, she described the five countries’ decision to pull out of the treaty as “absolute nonsense” and “the most horrible thing that could happen in the life of a treaty.”

She continued, “We are surprised that such advanced militaries like the Finnish, like the Estonians, Lithuanians, Latvians, would consider putting this hugely indiscriminate weapon in their military strategy, and what is worse, putting it in their land.”

Yet, for some, the new, precarious security reality that Europe is facing means that previous red lines are now up for discussion.

This is the case for Giles, who sees the latest developments as a recognition from these countries that treaties on landmines were “an act of idealism which has proven to be over-optimistic by developments in the world since then.”

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Former Panamanian President Ricardo Martinelli left the Nicaraguan embassy in Panama City, where he had sought refuge more than a year ago after the courts upheld a money laundering sentence against him, and headed to Colombia where he has received political asylum, the government said late Saturday.

Panama’s foreign ministry said in a statement that Colombian President Gustavo Petro sent Panamanian President José Raúl Mulino a formal note saying that he had granted Martinelli asylum and that Panama had granted the former president safe passage to Colombia.

“The Republic of Colombia is a State that has historically recognized with the utmost respect, compliance, and promotion the institutions of International Law, including the asylum system within the Inter-American system,” the statement said.

Martinelli, 73, was sentenced to 10 years in prison for money laundering in July 2023 in connection with the purchase of a publishing group. Following the confirmation of that sentence, the former president sought refuge in the Nicaraguan diplomatic mission in Panama after President Daniel Ortega’s government granted him asylum. He had remained inside the embassy for more than a year.

Martinelli is a businessman and supermarket magnate who governed Panama from 2009 to 2014, a period of rapid economic growth driven by the construction of major projects such as the first metro in Central America and the expansion of the interoceanic canal. But his government was tainted by accusations of bribery and cost overruns. He was sanctioned by the United States for corruption in January 2023.

Martinelli maintains that his prosecution was politically motivated as he sought to run for a second term of office.

In 2023, he won his party’s nomination to seek the presidency again. However, he was convicted of money laundering, and after the Supreme Court denied his appeal, he was ineligible to run.

Ultimately, Martinelli supported his running mate, current President Mulino.

Nicaragua granted Martinelli political asylum in February 2024. Panama had refused to grant Nicaragua permission to move Martinelli to Nicaragua.

The Colombian government had not previously commented on the matter.

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