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Israel has launched what it called “preemptive strikes” against Iran and a state of emergency has been declared in Israel, according to the country’s Defense Minister Israel Katz.

“Following the State of Israel’s preemptive strike against Iran, a missile and drone attack against the State of Israel and its civilian population is expected in the immediate future” Katz said in a statement.

Iranian state media outlet IRNA reported repeated explosions could be heard in Tehran.

Israel’s National Security Cabinet had met throughout the night leading up to the attack in Iran, according to an Israeli official.

Israel has closed its airspace until further notice, according to the country’s ministry of transportation.

This is a developing story and will be updated.

This post appeared first on cnn.com

As the head of the secretive Islamic Revolutionary Guard Corps (IRGC) Major General Hossein Salami, was one of the most powerful men in Iran, overseeing its most potent military arm and reporting directly to its Supreme Leader Ayatollah Ali Khamenei.

On Friday he was killed in Israel’s Rising Lion strikes that have targeted Iran’s nuclear program and senior military leaders in an attack that Prime Minister Benjamin Netanyahu said will last many days.

Iranian state media reported Salami had been killed by a strike on the IRGC’s headquarters in the capital Tehran. His death, along with other ranking members of Iran’s military, could hamper Iran’s response to the attack, analysts say.

“Without a doubt, Major General Salami was one of the most distinguished commanders of the Islamic Revolution — present on all fronts of scientific, cultural, security, and military jihad,” the Islamic Revolutionary Guard Corps (IRGC) said in a statement on Friday.

“In all arenas, he stood at the frontlines with a spirit of sincerity, wisdom, and devotion to the Supreme Leader, defending the ideals of the Revolution and the Iranian people,” the statement added.

Born in 1960, according to a US sanctions docket, Salami headed the secretive IRGC since 2019.

The position saw him helming one of the most powerful tools wielded by the Iranian state, which has been instrumental in crushing dissent at home and projecting Iran’s power abroad.

The IRGC boasts its own intelligence service, cyber operations unit, navy, and air force and analysts estimate it has up to 200,000 troops under its command. It also oversees Iran’s ballistic missile development, which Salami pushed to develop during his tenure.

In 2019 he said for the IRGC, ballistic missiles were “a way to end the story of American aircraft carriers.”

Analysts say the IRGC funds and supports a vast network of militias across the region which it uses to strike at US and other military personnel across the Middle East.

The IRGC is also believed to provide materials and support to Yemen’s Houthis, enabling the group to strike international shipping in the Red Sea and launch missiles and drones at Israel.

Salami was at the helm of the IRGC when Iran launched hundreds of drones and missiles at Israel in April and October last year, in the first direct strikes by Iran on Israeli territory.

In footage released by Iranian state media in January, Salami was seen inspecting what the media said was an underground military facility that had played a role in those attacks.

Wearing a green military uniform and short beard, Salami took the salute of soldiers in the cavernous underground complex and walked over the United States and Israel flags on the ground.

The site was now manufacturing “new special missiles,” semi-official Iranian media outlet Mehr News reported at the time.

In its statement confirming Salami’s death the IRGC said its command structure and other branches of the military were “fully prepared to deliver a decisive and harsh response.”

‘Do not come to the streets’

Salami was head when IRGC shot down a Ukrainian passenger jet shortly after it took off from Tehran’s international airport, killing all 176 people on board.

An unnamed IRGC commander of the Tor M1 surface-to-air missile defense system that shot down the plane was sentenced to 13 years in prison, according to Iran’s Mehr news outlet.

Salami apologized for unintentionally shooting down the Ukrainian plane and asked for forgiveness.

The IRGC is not only Iran’s most powerful military institution, it holds deep influence over domestic politics and the economy, with interests extending to and beyond the construction, telecommunications, auto and energy industries.

In 2022, amid weeks-long mass protests following the death of 22-year-old Mahsa Amini, who died after being detained by “morality police” allegedly for not abiding by the country’s conservative dress code, Salami warned Iran’s youth to stop demonstrating.

“Today is the last day of the riots. Do not come to the streets again. What do you want from this nation?” Salami said.

This post appeared first on cnn.com

Just yesterday at Ahmedabad airport, Sangeeta Gauswami clung tightly to her only child, her heart swelling with pride as she saw off her 19-year-old son from their home in the western Indian state of Gujarat, to begin a new chapter at university in London.

Now, less than 24 hours later, she sits frozen in shock and grief, in the same clothes she wore for that farewell – her world upended by a devastating crash.

Her son, Sanket, was among the 242 people aboard Air India flight AI171, which plunged from the sky just seconds after take-off – leaving only one survivor, and hundreds of shattered families.

The Boeing Dreamliner crashed into a medical college hostel, killing passengers, crew and people on the ground, bringing the death toll to at least 290 – one of India’s deadliest plane crashes in decades.

For hours, Gauswami clung to the faintest hope that Sanket had somehow made it out alive. But by Thursday night, hope had given way to heartbreak as she faced the unimaginable: offering her DNA to help identify her only child among the dead.

“We have had no news,” she chokes out, sat with her sister, who is also crying. “We keep asking but no one will tell us.”

DNA samples have been collected from more than 190 relatives at Ahmedabad Civil Hospital and are being verified against retrieved bodies from the crash site. It’s an agonizing process that could take up to 72 hours, according to state official Harshit Gosavi, who is overseeing the operation.

Grief fills the hospital hallways as families grapple with the loss of loved ones. In one corner, an elderly woman’s cries pierce the quiet sobs of others.

Friday’s sorrow is a stark contrast with the chaos of a day earlier, when relatives rushed to the hospital in the hope of finding their loved ones alive.

Manisha Thapa’s family sits shattered after rushing from their home in the eastern city of Patna on the first flight they could find after learning of the plane crash – knowing very well that the 27-year-old was among the cabin crew on the flight.

“I had spoken to her one day ago,” her mother says, voice trembling as she wipes away tears with a tissue offered by her daughter’s friend.

“We speak daily. She had called to let me know we won’t be able to talk because she would be on a long flight.”

Manisha’s father hasn’t stopped weeping since he gave his DNA sample Friday morning.

India’s Prime Minister Narendra Modi visited Ahmedabad Friday, inspecting the crash site and meeting the sole survivor, British national Vishwash Kumar Ramesh.

Ramesh’s story is being hailed as nothing short of a miracle. Video of him walking to help crash victims with a bloodstained shirt, and lying in hospital with a few cuts and bruises, are circulating widely on social media.

“At first, I thought I was going to die… I realized I was still alive and saw an opening near my seat. I managed to unbuckle myself. I used my leg to push through the opening and crawled out,” he told Indian state broadcaster DD News.

“Everyone around me was either dead or dying. I still don’t understand how I’m alive.”

While the authorities’ immediate focus is on confirming the number of casualties and providing support to the victims’ families, attention will soon turn to what caused the crash.

The US National Transportation Safety Board said it will lead a team that is heading to India to assist local authorities’ probe into the crash. The UK Air Accidents Investigation Branch has also formally offered its assistance to Indian authorities, following the crash.

This post appeared first on cnn.com

Joe kicks off this week’s video with a multi‑timeframe deep dive into the 10‑year U.S. Treasury yield (TNX), explaining why a sideways coil just below the 5% level could be “downright scary” for equities. From there, he demonstrates precise entry/exit timingwith a combination of ADX, MACD, and RSI. Joe also covers the short-term divergence developing in the QQQ, takes a look at the IWM, and wraps up with some analyses of this week’s viewer symbol requests, including INTC, MU, and more.

The video premiered on June 11, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

E-Power Resources Inc (CSE: EPR) (FSE: 8RO) (‘E-Power’ or the ‘Company’) announces its intention to complete a flow-through non-brokered private placement to raise gross proceeds of up to $150,000 (the ‘FT Offering’). The Company will also complete a Hard Dollar Private Placement to raise gross proceeds of up to $50,000 (the ‘Hard Dollar Offering’).

Securities to be issued pursuant to the FT Offering shall consist of an amount of up to 3,000,000 units of the Company (the ‘FT Units‘) issued at a price of $0.05 per FT Unit, each FT Unit being comprised of one common share in the capital of the Company (each a ‘FT Share‘) that will qualify as ‘flow-through shares’ (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), and one-half Warrant, each Warrant entitling its holder thereof to acquire one Share at a price of $0.10 per Share for a period of 5 years from the closing date of the FT Offering.

The Hard Dollar Offering units ‘Hard Dollar Units’ shall consist of 1,000,000 units of the Company issued at a price of $0.05 per Hard Dollar Unit. Each Hard Dollar Unit shall consist of one common share in the capital of the Company and one full Warrant, each Warrant entitling its holder thereof to acquire one Share at a price of $0.10 per Share for a period of 5 years from the closing date of the Hard Dollar Offering.

In connection with both the FT Offering and Hard Dollar Offering, the Company may pay cash finder’s fees and issue broker warrants. The securities issued in connection with the FT Offering and Hard Dollar Offering are subject to the applicable statutory four-month and one-day hold period.

Net proceeds from the FT Offering will be used by the Company to incur eligible ‘Canadian exploration expenses’ that will qualify as ‘flow-through mining expenditures,’ as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the ‘Qualifying Expenditures‘), related to the Company’s Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2025. ‎ In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the ‘exploration base relating to certain Quebec exploration expenses’ within the meaning of section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the ‘exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses’ within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the FT Shares and FT Units will be offered by way of private placement pursuant to applicable exemptions from NI 45-106. The FT Offering and Hard Dollar Offering are expected to close on or about June 20, 2025 (the ‘Closing Date‘), subject to the satisfaction or waiver of the customary closing conditions, including the approval of the Canadian Securities Exchange (‘CSE‘).

The securities to be offered pursuant to the FT Offering and Hard Dollar Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About E-Power Resources Inc.

E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec. Its flagship asset, the Tetepisca Graphite Property, is located in the Tetepisca Graphite District of the North Shore Region of Quebec, approximately 215 kilometers from the Port of Baie-Comeau. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedarplus.ca) or contact the Company by email at info@e-powerresources.com.

On Behalf of the Board of Directors

James Cross
President & CEO
+1 (438) 701-3736
info@e-powerresources.com

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are ‘forward-looking statements.’ These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255269

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Peter Krauth, editor of Silver Stock Investor and Silver Advisor, outlines the factors driving silver’s recent price run, which has pushed the white metal to levels not seen in over a decade.

In his view, the current macroeconomic environment is combining with short supply and strong demand dynamics to create a ‘perfect storm.’

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

This post appeared first on investingnews.com

Energy sector innovators took center stage on Wednesday (June 11), with Eclipse Automation securing major deals in nuclear infrastructure, and Oklo (NYSE:OKLO) snagging a key US clean energy contract.

Eclipse Automation, part of Accenture (NYSE:ACN), has secured multiple contracts to design, manufacture and supply advanced automated tooling and equipment for upcoming CANDU nuclear reactor refurbishment projects.

The projects are at the Cernavoda plant in Romania and the Qinshan facility in China, and the agreements include automated inspection units, radioactive-handling systems, reactor-assembly tools and a remote-control center.

Based in Cambridge, Ontario, and backed by Accenture’s global footprint, Eclipse Automation is working to bolster nuclear safety and efficiency with cutting-edge technology.

“In the last decade, Eclipse has delivered automated solutions and equipment to support nuclear refurbishment work at the Embalse reactor in Argentina, and at the Darlington and Bruce nuclear generating stations in Canada,” said Steve Mai, CEO of Eclipse Automation, in the company’s press release.

Putting the ‘Can’ in CANDU

Canada’s CANDU (Canada deuterium uranium) reactors trace their origins back to the 1950s, with the first commercial unit, NPD, launching in 1962 using heavy water moderation and natural uranium fuel. Featuring pressure tubes and online refueling, CANDUs allow continuous operation, unlike light-water reactors that require shutdowns.

Today, 19 CANDU reactors operate in Canada, primarily in Ontario and New Brunswick, and over a dozen more are deployed abroad in South Korea, Romania, China, Argentina and India.

The design is prized for high reliability, clean power and the ability to burn natural uranium and alternative fuels.

Canada and other countries are now investing in life extensions and advancing next-generation designs like the Enhanced CANDU-6, the Advanced CANDU reactor and small modular reactors, supported by federal funding to sustain a domestic supply chain and global competitiveness.

Defense department eyes microreactors

Elsewhere, advanced nuclear company Oklo received a notice of intent to award from the US Department of Defense to deploy its Aurora microreactor at Eielson Air Force Base in Alaska.

The project, which will be led by the Defense Logistics Agency Energy, will serve as the Air Force’s pilot for enhancing energy resilience at remote sites. Under a long-term power purchase agreement, Oklo will design, build, own and operate the reactor, supplying both electricity and heat. The Aurora system uses fast reactor technology to deliver continuous, off-grid power — ideal for mission-critical infrastructure.

‘This Notice of Intent to Award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,’ said Jacob DeWitte, co-founder and CEO of Oklo. ‘We are honored to support national defense resilience objectives while demonstrating the value of US-pioneered fast reactor technology.’

These contracts reflect a global resurgence in nuclear energy as countries look for ways to power their expanding grids with clean energy.

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

This post appeared first on investingnews.com

FireFly Metals (ASX:FFM,TSX:FFM,OTC Pink:MNXMF) has attained firm commitments to raise up to about AU$95 million, giving it a total of AU$135 million for its multi-pronged growth strategy.

The company highlighted on Tuesday (June 10) that the equity financing will be completed via the issuance of approximately 94.7 million fully paid ordinary shares; it will receive around AU$1 per new share.

The funds will be raised via three transactions, with the first being an AU$11.2 million charity flow-through placement to Canadian investors. This will be followed by a AU$54.9 million two-tranche institutional placement, as well as a AU$28.8 million fully underwritten Canadian bought-deal offering with BMO Capital Markets.

Alongside the equity raising, FireFly is inviting shareholders to participate in a non-underwritten share purchase plan (SPP) that can potentially raise up to AU$5 million before costs.

Proceeds of the equity raising and the SPP will collectively be allotted to advance the Green Bay copper-gold project in Canada, including transaction costs and working capital.

Located in the Baie Verte district of Northeast Newfoundland on Canada’s east coast, Green Bay was acquired by FireFly in August 2023. Green Bay includes Ming underground mine, which was mined between 1972 and 1982, with activity restarting in 2012. Historic production totaled 6.7 million metric tons (MT) at 2 percent for 134,000 MT of copper.

Measured and indicated resources at Ming are at 21.5 million MT at 1.8 percent for 307,000 MT of copper equivalent, while inferred resources are at 28.4 million MT at 2 percent for 576,000 MT of copper equivalent.

FireFly began drilling at Ming in October 2023, completing 79 drill holes across 37,110 meters within a year.

“The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects,” said FireFly Managing Director Steve Parsons in the company’s press release.

He called the asset, alongside FireFly’s exploration team and AU$135 million in funding, “the ideal recipe for growth.”

FireFly states on its website that it will continue with its low-cost rapid resource growth strategy, with the underground exploration drill drive at the Ming deposit to be extended during this year.

The company debuted on the Toronto Stock Exchange in December 2024.

Securities Disclosure: I, Gabrielle de la Cruz, 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 Wednesday (June 11) 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$108,710, a slight decrease of 0.8 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$108,574 and a high of US$110,269.

Bitcoin price performance, June 11, 2025.

Chart via TradingView.

Bitcoin has surged over 10 percent since June 5, briefly reaching US$110,000 on Wednesday.

If Bitcoin breaks its US$112,000 all-time high, analysts believe it could make a rapid rise to US$114,000, with further gains predicted if momentum continues. Experts’ targets range from US$120,000 to US$150,000 in the short term, while long-term forecasts sit between US$1 million and US$2.4 million.

This week’s on-chain analysis from Glassnode shows a deviation from past bull markets, with long-term holders continuing to buy instead of selling. This points to growing institutional interest and a shift toward long-term thinking. Price swings are unusually low, suggesting a stable market, but moves could be sharp if demand shifts.

Ethereum (ETH) ended the day at US$2,810.96, a 1.6 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,796.60 and saw a daily high of US$2,870.74

Altcoin price update

  • Solana (SOL) closed at US$162.72, down 0.5 percent over 24 hours. SOL experienced a low of US$163.05 and reached a high of US$167.80 on Wednesday.
  • XRP was trading at US$2.29, down by 0.3 percent to its lowest valuation in 24 hours. The cryptocurrency reached a high of US$2.33 for the day.
  • Sui (SUI) was trading at US$3.42, showing a decreaseof 0.7 percent over the past 24 hours and its lowest valuation of the day. It peaked at US$3.51.
  • Cardano (ADA) closed at its lowest price of the day at US$0.7041, down 0.5 percent over the past 24 hours. Its highest valuation was US$0.7285.

Today’s crypto news to know

Experts make ETF approval calls

Bloomberg exchange-traded fund (ETF) analysts Eric Balchunas and James Seyffart are calling for a ‘potential Alt Coin ETF Summer,’ according to a note released on Wednesday.

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs,” an X post from Balchunas states.

They predict that the US Securities and Exchange Commission (SEC) could approve exchange-traded funds (ETFs) tracking broad crypto indexes by July. The SEC could also “act early on spot Solana and staking ETF filings” after REX-Osprey filed for Solana and Ethereum ETFs with staking components using a C-Corp structure on May 30.

Seyffart and Balchunas now place the approval odds of SOL and Litecoin ETFs at 90 percent. Spot Solana ETF approval odds also jumped to 91 percent on Wednesday on Polymarket.

Stripe to acquire Privy

Stripe has announced plans to acquire Privy, a specialized cryptocurrency wallet infrastructure developer, for an undisclosed amount in a deal signaling Stripe’s deepening involvement in the digital asset space.

Under the terms of the purchase, Privy will operate as a subsidiary within Stripe, focusing on providing infrastructure for developers engaged in building solutions on cryptocurrency rails. According to Privy’s announcement, this transition to Stripe’s umbrella will empower the company with “more resources, flexibility, and firepower.”

Privy’s core expertise lies in offering comprehensive infrastructure for companies involved in the development and management of digital asset wallets. Its tech enables millions of secure crypto wallets on a global scale.

This acquisition aligns with the broader trend of established financial institutions and tech giants integrating blockchain and cryptocurrency technologies into their portfolios.

Ukraine considers adding crypto to national reserves

The Verkhovna Rada, Ukraine’s parliament, received a draft bill on Tuesday (June 10) that proposes modifications to banking laws. These changes would permit the National Bank of Ukraine to incorporate cryptocurrencies into its reserves, standing alongside gold and foreign currencies. According to Yaroslav Zhelezniak, a member of parliament who confirmed the introduction of the bill via Telegram, bill 13356 would allow crypto to be included, but the central bank would retain full discretion over how much of its reserves to allocate to crypto and would not be required to add it.

Zhelezniak clarified in a video interview with Kyrylo Khomiakov, Binance’s regional head for Central and Eastern European countries and Central Asia, that while the draft bill has been introduced, the Ukrainian government isn’t pushing for cryptocurrency, but wants to keep pace with its increasing global usage.

“This story has the right to life, and, as we see, many countries are implementing it,” he said.

Bullish confidentially files for US IPO amid pro-crypto climate

Crypto exchange Bullish has confidentially filed for a US initial public offering (IPO), signaling renewed optimism in digital assets as Donald Trump’s administration ushers in a more crypto-friendly regulatory landscape.

Backed by billionaire Peter Thiel and led by former NYSE President Tom Farley, Bullish’s IPO plans mark a major comeback after its failed SPAC merger in 2021. The company’s move follows Circle’s (NYSE:CRCL) blockbuster US$1.1 billion IPO and coincides with a wave of new filings, including Gemini’s confidential application last week.

Jefferies is slated to lead underwriting for Bullish, though the bank has declined to comment.

Ondo brings tokenized US treasuries to XRP ledger

Ondo Finance has launched its tokenized short-term US Treasury product, OUSG, on the XRP Ledger (XRPL), using Ripple’s new RLUSD stablecoin for settlement. This marks the first time tokenized Treasuries are accessible on XRPL, allowing institutional investors to mint and redeem around the clock with instant settlement.

OUSG provides exposure to low-risk, short-term Treasuries and is already live on Ethereum and Solana, with a combined US$670 million in assets across chains. With US$30 million in total value locked already on XRPL, this expansion could significantly scale institutional DeFi on public ledgers.

Strategy hit with lawsuit over alleged misleading Bitcoin strategy

Strategy (NASDAQ:MSTR) is facing a class-action lawsuit alleging that the Michael Saylor-led firm misled shareholders about the risks of its Bitcoin-heavy investment approach.

Law firm Levi & Korsinsky filed the suit on Tuesday, calling on investors who bought shares between April 2024 and April 2025 to join the case, with a lead plaintiff deadline set for July 15.

The complaint cites the company’s recent US$5.91 billion unrealized loss due to Bitcoin’s volatility and claims executives downplayed risk while hyping upside potential. On April 7, the company dropped nearly 9 percent after disclosing a Q1 loss; by May 1, Strategy had formally admitted to the nearly US$6 billion hit.

A second lawsuit, filed by Anas Hamza, is also underway for alleged violations of the Securities Exchange Act.

Saylor has defended the firm’s strategy, arguing that its capital structure is resilient even in the face of a 90 percent Bitcoin crash. Strategy has not issued an official comment on the lawsuits.

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

At least 49 people are confirmed dead after flooding hit South Africa, including children whose school bus was swept away during the extreme weather, officials said.

An intense cold front has ripped across parts of South Africa, bringing rain and snow and triggering floods.

In the Eastern Cape, one of the hardest-hit provinces, floodwaters have forced many people out of their homes, causing power outages and road closures, according to the provincial authority.

Earlier on Wednesday, the state broadcaster SABC reported that a school bus was swept into a river in Decoligny village on Tuesday morning while en route to school.

The provincial government said that 13 people, including pupils, their driver, and his assistant, were on the bus.

“Sadly four of those learners have been confirmed to be deceased together with the driver and the conductor of the mini-bus”, Eastern Cape premier Lubabalo Oscar Mabuyane said in a briefing Wednesday afternoon.

Four others remain missing, he said, adding that rescue teams were still searching for more bodies.

President Cyril Ramaphosa’s office said in an earlier statement that three children were rescued from the vehicle during a condolence message to bereaved families.

South Africa has grappled with flooding in recent years with some of them deadly.

In 2022, floods fueled by heavy downpours left up to 400 people dead in Durban and the KwaZulu-Natal province.

This post appeared first on cnn.com