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Japan’s largest copper smelter has secured a rare reprieve in one of the tightest processing-fee environments the industry has ever seen.

According to media reports, Pan Pacific Copper has agreed with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) to roll over treatment and refining charges for 2026 rather than cut them further.

People familiar with the deal said the commercial terms will remain broadly unchanged from this year, preserving a fee structure that has already fallen to historic lows.

TC/RCs, which are the fees miners pay smelters to process copper concentrate, usually move in tandem with global supply trends.

But the collapse this year has been so severe that spot charges have turned decisively negative. Many smelters warn the industry is near breaking point, especially in Asia, where Chinese refiners have built capacity far ahead of available concentrate.

The Lundin-PPC rollover diverges from the wide expectation that fees will fall further next year.

It follows a warning in October from Freeport-McMoRan (NYSE:FCX) that it plans to abandon the traditional benchmark-setting system to help keep smelters afloat.

The arrangement also suggests miners with long-term industrial ties to Japan are willing to make commercial concessions to avoid further financial stress on their customers.

A spokesperson for Lundin declined to comment on the deal. PPC said it could not address the details of individual contracts.

For decades, annual copper contracts have been anchored by the first major deal of the year, often involving Chinese smelters since the 2010s.

But the system has become strained as the benchmark collapses and Chinese refiners resist setting a price that could turn negative. This year’s benchmark was set at a record low of US$21.25 a ton and 2.125 cents a pound.

The dynamics are particularly complex for Japanese smelters. PPC’s parent, JX Advanced Metals (OTC Pink:JXAMY,TSE:5016), holds a 30 percent stake in Lundin’s Caserones mine in Chile, giving both sides a long-term interest in keeping operations stable.

Last month, PPC announced a plan to merge its purchasing and sales functions with Mitsubishi Materials, a move aimed at strengthening Japan’s collective buying power in a challenging market.

The pressures are most acute in China, where this year’s negative TC/RCs have prompted emergency supply-side intervention.

The China Smelters Purchase Team, representing the country’s largest refiners, recently agreed to cut output by more than 10 percent next year to counter what it called “malignant competition.”

According to Shanghai Metals Market, the CSPT also established new oversight mechanisms to police procurement practices and blacklist suppliers deemed disruptive.

With Chinese smelters at an impasse over the 2026 benchmark, the industry enters the new year without clarity on where the market will settle.

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

This post appeared first on investingnews.com

InMed Pharmaceuticals Inc. (NASDAQ: INM) (‘InMed’ or the ‘Company’), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today released the following statement.

Recently, H.R. 5371, the ‘Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026’ (the ‘Act‘) was signed into law.

The Company has been evaluating the impact of the Act with its advisors and believes that the Act, in its current form and without further amendment, will have a material negative impact on BayMedica Inc. (‘BayMedica‘), a subsidiary of the Company. Specifically, certain aspects of BayMedica’s commercial business and its inventory of rare, non-intoxicating cannabinoids would be prohibited under the Act if it comes into force on November 12, 2026, in its current form. BayMedica is evaluating the potential of creating alternative supply chain options in order to maintain continued regulatory compliance.

InMed Remains Focused on Core Pharmaceutical Programs

Despite the potential impact of the Act on BayMedica’s commercial operations, the new legislation does not affect InMed’s pharmaceutical drug development programs, which operate within the traditional drug approval pathway under FDA guidance. InMed remains fully committed to advancing its core pharmaceutical business. The Company continues to progress INM-901 for the treatment of Alzheimer’s disease and INM-089 for the treatment of age-related macular degeneration (AMD).

InMed’s Evaluation of Potential Impact of Act on BayMedica

It is unknown to the Company whether the sections of the Act that would impact BayMedica will ultimately go into effect on November 12, 2026, or at all, or if those sections will be replaced, impacted or amended by subsequent acts of U.S. policymakers. The Company notes that this one-year window leading to November 2026 affords policymakers, the broader industry and the Company time to evaluate the regulatory framework and the implications of the Act in its current form to consider potential legislative remedies, regulatory clarifications, and additional stakeholder engagement. The Company supports a balanced, science-based regulatory approach that promotes consumer safety while preserving responsible access to non-intoxicating cannabinoid products.

BayMedica is evaluating alternative options and, in the meantime, is continuing to operate its business in the normal course as the Act is not currently scheduled to come into force until November 2026. BayMedica has not set a timetable for the conclusion of its evaluation, nor has it made any definitive decisions related to any potential alternative options at this time.

You should review this press release together with the Risk Factors, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and footnotes in the Company’s latest Annual, Quarterly and Other Reports filed with the Securities and Exchange Commission for a discussion of BayMedica’s contribution to the Company’s consolidated financial results and balance sheet that could be negatively impacted if the Act comes into force in its current form.

About InMed

InMed Pharmaceuticals is a pharmaceutical drug development company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular and dermatological indications. For more information, visit www.inmedpharma.com.

Investor Contact:
Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1.604.416.0999
E: ir@inmedpharma.com

Cautionary Note Regarding Forward-Looking Information:

This news release contains ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking information’) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about the Act, the impact of the Act on BayMedica, any potential modifications to the Act and/or the timing thereof and the alternative options available to BayMedica and the Company.

With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: its ability to obtain all necessary regulatory approvals on a timely basis, or at all, potential U.S. legislative changes and developments, if any; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause InMed’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing InMed’s stand-alone business is disclosed in InMed’s Annual Report on Form 10-K, InMed’s Quarterly Report on Form 10-Q and other filings with the Security and Exchange Commission on www.sec.gov.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277952

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

We also break down next week’s catalysts to watch to help you prepare for the week ahead.

In this article:

    This week’s tech sector performance

    Markets opened the week subdued with investors eyeing the US Federal Reserve’s rate decision, leading to modest gains in the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) and the S&P 500 (INDEXSP:.INX).

    Reports of US President Donald Trump’s approval for NVIDIA (NASDAQ:NVDA) H200 chip sales to China boosted chip stocks and sustained AI enthusiasm. Tuesday’s (December 9) JOLTS report delivered data suggesting a cooling labour market amid tariff uncertainty but offering limited new clarity ahead of the Federal Reserve’s two-day meeting.

    Markets rallied sharply on Wednesday (December 10) after the meeting resulted in a 25 basis point rate cut to 3.5 to 3.75 percent; however, Nasdaq gains were tempered, hinting at continued caution around AI capex sustainability ahead of earnings from Oracle and Broadcom.

    Rate-sensitive areas like financials and industrials led the rally, pushing the Dow Jones Industrial Average (INDEXDJX:.DJI) ahead of the Nasdaq, which closed slightly down. This highlighted a shift from tech dominance to a more diversified market. The S&P ended up 0.21 percent at a record 6,901.

    Markets interpreted Fed Chair Jerome Powell’s measured tone during his post-meeting press conference — hawkish on cuts but dovish on recession — as reinforcing a gradual easing despite tariff caution.

    Gains moderated toward the end of the week as Oracle (NYSE:ORCL) and Broadcom (NASDAQ:AVGO) reported earnings that garnered a mixed reaction from investors and analysts.

    Tech stocks have whipsawed in recent weeks, rallying on Fed rate cut bets and trade negotiation optimism before sharp pullbacks triggered by AI bubble fears and overvaluation concerns.

    3 tech stocks moving markets this week

    1. NVIDIA (NASDAQ:NVDA)

    Nvidia’s shares initially surged on Tuesday (December 9) on reports that President Trump would permit H200 exports to pre-approved Chinese clients, subject to a 25 percent US federal surcharge.

    However, these early gains diminished as further reports emerged that Beijing is reviewing its domestic chip prioritization strategy.

    Meanwhile, companies like ByteDance and Alibaba (NYSE:BABA) are reportedly seeking large orders, pending approval. On Friday, Reuters reported that Nvidia is considering increasing H200 chip output due to robust Chinese demand. Its share price was US$175.02 at Friday’s close, a modest decrease of 4.35.

    2. Oracle (NYSE:ORCL)

    Oracle shares dropped over 7 percent after hours on Wednesday after the company’s Q2 earnings missed revenue forecasts, coming at US$16.1 billion compared to expectations of US$16.2 billion.

    The report showed cloud sales rose 34 percent, while infrastructure revenue increased by 68 percent. Both figures were below analyst expectations of 35 and 71 percent, respectively.

    Oracle shares plunged further after executives disclosed on a conference call that this fiscal year’s capital expenditure would reach around US$50 billion, higher than prior guidance, including around US$12 billion spent this quarter on data centers.

    On a more positive note, some analysts viewed capex as a strategic investment, citing AI’s growth potential and pointing to Oracle’s US$523 billion backlog of deals with companies like Meta Platforms (NASDAQ:META) and Nvidia.

    Oracle shares closed more than 16 percent lower this week at a price of US$189.97 on Friday afternoon.

    3. Broadcom (NASDAQ:AVGO)

    Conversely, Broadcom shares rose post-market on Thursday after reporting its Q4 2025 earnings results, which revealed a 74 percent increase in AI chip revenue, with custom XPUs now comprising 65 percent of its semiconductor business.

    Total revenue reached US$18.02 billion year-over-year, exceeding expectations of US$17.46 billion.

    Looking ahead, the company projects semiconductor revenue to double to US$8.2 billion in the next fiscal year. Q1 2026 guidance calls for US$19.1 billion total revenue.

    During the earnings call, Broadcom CEO Hock Tan named Anthropic as the newly qualified fourth hyperscale, confirming its US$11 billion additional order for custom XPUs and AI racks. Shipments are expected to ramp up in late FY26.

    After an initial rise, stocks fell during the call after the company guided low quarterly growth for its non-AI chips and a tax rate increase to 16.5 percent due to normalized post-acquisition tax benefits expiring.

    Still, JPMorgan (NYSE:JPM) analyst Vivek Arya reset his price target on Broadcom stock from US$460 to US$500 on Friday (December 12).

    Despite the positive sentiment, Broadcom shares saw a decline of 11.79 to US$359.93 from the start of the week due to Friday’s sell-off.

    Broadcom, Nvidia and Oracle’s performance, December 8 to 12, 2025.

    Chart via Google Finance.

    Top tech news of the week

        Tech ETF performance

        Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of the niches they cover.

        This week, the iShares Semiconductor ETF (NASDAQ:SOXX) declined by 3.88 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw a gain of 1.31 percent.

        The VanEck Semiconductor ETF (NASDAQ:SMH) also decreased by 3.71 percent.

        Tech news to watch next week

        Speeches from Fed Governors Stephen Miran and Christopher J. Waller on Monday (December 15) and Wednesday (December 17) next week may further clarify the Fed’s dot plot.

        Bank of Canada Governor Tiff Macklem will also speak in Montreal on Tuesday (December 16), while key jobs, manufacturing and retail sales data in the US throughout the week could shift rate cut bets, pressuring growth stocks.

        Earnings from Micron Technology (NASDAQ:MU) and BlackBerry (TSX:BB) will be released on Wednesday and Thursday (December 18), respectively.

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

        This post appeared first on investingnews.com

        (TheNewswire)

        Vancouver, Canada, December 12, 2025 TheNewswire – Spartan Metals Corp. (‘ Spartan ‘ or the ‘ Company ‘) (TSX-V: W | OTCQB: SPRMF | FSE: J03) announces, effectively immediately, it has terminated the previously announced (November 17, 2025) investor relations agreement with ValPal Management Consultancy.

        About Spartan Metals Corp.

        Spartan Metals is focused on developing critical minerals projects in well-established and stable mining jurisdictions in the Western United States, with an emphasis on building a portfolio of diverse strategic defense minerals such as Tungsten, Rubidium, Antimony, Bismuth, and Arsenic.

        Spartan’s flagship project is the Eagle Project in eastern Nevada that consists of the highest-grade historic tungsten resource in the USA (the past-producing Tungstonia Mine) along with significant under-defined resources consisting of: high-grade rubidium; antimony; bismuth; indium; as well as precious and base metals. More information about Spartan Metals can be found at www.SpartanMetals.com

        On behalf of the Board of Spartan

        ‘Brett Marsh’

        President, CEO & Director

        Further Information:

        Brett Marsh, M.Sc., MBA, CPG

        President, CEO & Director

        1-888-535-0325

        info@spartanmetals.com

        Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

        Copyright (c) 2025 TheNewswire – All rights reserved.

        News Provided by TheNewsWire via QuoteMedia

        This post appeared first on investingnews.com

        Rio Silver Inc. (the ‘Company’ or ‘Rio Silver’) (TSX.V: RYO,OTC:RYOOF) (OTC: RYOOF) announces that, following regulatory approval, the closing of the previously-announced transaction (the ‘Transaction’) with Peruvian Metals Corp. (‘Peruvian’) to acquire 100% of the issued and outstanding common shares of Mamaniña Exploraciones S.A.C. (the ‘Subsidiary’), a Peruvian corporation, which holds mining rights in the Maria Norte project (the ‘Maria Norte Property’) located in Peru. The details and the terms of the Transaction are summarized in the Company’s previous press releases on March 26, June 25 and September 17, 2025.

        Pursuant to the terms of the Transaction, on closing, Rio Silver has acquired from Peruvian 100% of the issued and outstanding common shares of the Subsidiary. In consideration, Rio Silver issued to Peruvian 3,999,999 common shares of the Company, representing 9.27 of the Company’s issued and outstanding share capital (accounting for the recent 5:1 share consolidation completed on July 3, 2025), and, in addition, under the terms of the Transaction, the Company is required to pay an aggregate of US$250,000 by making semi-annual payments to Peruvian over a period of five years commencing on June 15, 2025. To date, the Company has made the following cash payments (i) CDN$15,000 upon signing; (ii) US$22,500 upon an amendment; and (ii) US$25,000 option payment on June 15, 2025, resulting in US$225,000 payable in remaining option payments.

        A geological report prepared in accordance with National Instrument 43-101 in respect of the Maria Norte Property will be filed at the Company’s profile on SEDAR+.

        ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

        Chris Verrico
        Director, President and Chief Executive Officer
        Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

        For further information,

        Christopher Verrico, President, CEO
        Tel: (604) 762-4448
        Email: chris.verrico@riosilverinc.com
        Website: www.riosilverinc.com

        This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.

        News Provided by GlobeNewswire via QuoteMedia

        This post appeared first on investingnews.com

        2025 is drawing to a close, and silver seems determined to end the year with a bang.

        The white metal’s breakout continued this week, with the price crashing through US$60 per ounce and continuing on up, even briefly passing US$64. It ultimately finished at just under US$62.

        Year-to-date silver is now up over 110 percent, far outpacing gold’s gain of about 63 percent.

        Its latest rise kicked off on November 28, the same day the Comex experienced an outage that lasted about 10 hours. Since then, positive drivers have continued to pile up.

        Chief among them this week was the most recent interest rate reduction from the US Federal Reserve. As was widely expected, the central bank made a 25 basis point cut at its meeting, which wrapped up on Wednesday (December 10), taking the target range to 3.5 to 3.75 percent.

        Both silver and gold tend to fare better in lower-rate environments, and while gold remains below its all-time high, it retook the US$4,300 per ounce level this week.

        Key Fed meeting takeaways

        It’s worth noting that although the Fed’s cut went through, three out of 12 officials voted against it, a situation that hasn’t happened since September 2019. Two wanted rates to stay the same, while Governor Stephen Miran was calling for a 50 basis point reduction.

        Miran took his spot on the Fed’s Board of Governors in September after being nominated by President Donald Trump, who has been critical of the Fed — and Chair Jerome Powell in particular — for not lowering rates as quickly as he would like. Powell’s term ends in May 2026, and it’s anticipated that his replacement will follow Trump’s vision. Kevin Hassett of the National Economic Council is said to be a strong contender, with 84 percent of respondents to a CNBC survey saying they think it will be him.

        While the Fed’s rate decision was in focus this week, market watchers are also closely eyeing its post-meeting statement, as well as press conference comments from Powell, to figure out what the central bank’s policy will look like heading into the new year and beyond.

        The latest dot plot shows that Fed officials expect only one rate cut in 2026, plus another in 2027. That’s unchanged from projections made in September, but experts have pointed out that the dot plot also highlights the growing divide between Federal Open Market Committee members.

        Another important facet is the news that the Fed will start buying short-dated bonds as of Friday (December 12), with an initial round involving purchasing US$40 billion worth of treasuries per month. This move comes after the end of quantitative tightening measures on December 1, and is being looked at as a step in the direction of quantitative easing.

        ‘This is basically another way of saying quantitative easing, and we’re going to continue to print money,’ said David Erfle of Junior Miner Junky. ‘The Federal Reserve is in a situation where, ‘Hey, we’ve got to continue to issue new debt to pay off the old debt.’ So now the yield curve is going to steepen as the Fed pivots toward these treasury bills, and private investors are going to have to absorb more duration risk. So basically, this means loose monetary conditions are on the way, and that’s positive for both gold and especially now silver.’

        Will the silver price keep rising?

        With that in mind, what exactly is next for the silver price?

        I’ve been asking guests on our channel where the metal goes from here, and many have said it’s becoming harder and harder to predict as silver enters uncharted territory.

        Peter Krauth of Silver Stock Investor and Silver Advisor said that a ‘relatively conservative’ outlook for 2026 would be US$70. However, he also emphasized that higher levels are possible:

        ‘It’s taken 45 years for (silver) to finally break out through that US$50 level. And so we’re in uncharted waters, uncharted territory, and this being the kind of market that we’re in — fundamentally, as well as macroeconomically, as well as geopolitically — I think odds are silver is going to continue to climb higher.

        ‘And I think it’s going to convert a lot of doubters into into believers that silver is going to go on setting new record highs, and that it’s still relatively early in this market. We’re going to see it perform very, very well for several more years.’

        For his part, Erfle weighed in on upside and downside for silver, outlining how the precious metal could get close to the US$100 level. Here’s what he said:

        ‘If you consider the supply/demand fundamentals, this is a fifth year of a supply deficit in silver, which has constantly been outpacing supply.

        ‘All these forces have converged to take the silver price so much higher, and looking at upside targets, the next target is the US$66, US$68 area, and then US$80 to US$83 if the momentum continues into January. But the long-term measured target of the cup-and-handle breakout is US$96.’

        I’ll be having more conversations about silver next week with experts like Gareth Soloway, John Rubino and John Feneck, so drop a comment on our YouTube channel if you have any questions.

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

        This post appeared first on investingnews.com

        President Donald Trump on Thursday pressed Senate Majority Leader John Thune, R-S.D., to dismantle the Senate’s ‘blue slip’ tradition, arguing that the practice has allowed Democrats to block Republican judicial and U.S. attorney nominees.

        ‘If they say no, then it is OVER for that very well qualified Republican candidate. Only a really far left Democrat can be approved. It is shocking that Republicans, under Senator Chuck G, allow this scam to continue. So unfair to Republicans, and not Constitutional,’ Trump wrote on Truth Social.

        ‘I am hereby asking Senate Majority Leader John Thune, a fantastic guy, to get something done, ideally the termination of Blue Slips. Too many GREAT REPUBLICANS are being, SENT PACKIN’. None are getting approved!!!’

        Trump’s remarks come as courts continue to scrutinize the legality of his U.S. attorney appointments.

        Alina Habba announced on Monday that she would be stepping down as the top federal prosecutor in New Jersey after an appeals court ruled she was unlawfully serving in the role.

        Trump appointed Lindsey Halligan to serve as interim U.S. Attorney for the Eastern District of Virginia, after Erik Siebert resigned. A federal judge in November dismissed the indictments of former FBI Director James Comey and New York Attorney General Letitia James, finding that Halligan had been unlawfully appointed and therefore lacked the authority to bring the charges.

        Trump is effectively urging the Senate to end the long-standing custom for all judicial nominees. Senators from both parties are reluctant to change the practice, fearing they would lose the ability to stall or block nominees they have concerns about.

        Fox News’ Chad Pergram contributed to this report.

        This post appeared first on FOX NEWS

        Rep. Bennie Thompson, D-Miss., called on Homeland Security Secretary Kristi Noem to resign Thursday during opening remarks at a House Homeland Security Committee hearing on ‘Worldwide Threats to the Homeland.’

        ‘You have systematically dismantled the Department of Homeland Security, put your own interests above the department, and violated the law. You are making America less safe,’ said Thompson. ‘So rather than sitting here and wasting your time and ours with more corruption, lies and lawlessness, I call on you to resign. Do a real service to the country and just resign. That is, if President Trump doesn’t fire you first.’

        As Noem was giving her opening statement, several protesters against U.S. Immigration and Customs Enforcement (ICE) interrupted, yelling, ‘Get ICE off our streets,’ and, ‘Stop terrorizing our community.’

        The protesters were escorted out by Capitol Police and detained outside the hearing room.

        Noem, who was joined at the hearing by National Counterterrorism Center director Joe Kent and Michael Glasheen, the operations director of the National Security Branch of the FBI, said one of her grandchildren, who was in the audience, was crying a little during Thompson’s remarks.

        ‘I don’t think she agreed with him,’ Noem said jokingly.

        She touted the work DHS has done to secure the southern border and protect the U.S.

        ‘DHS is eradicating transnational organized crime and the stopping of deadly drugs from continuing to be funneled into our communities,’ she told lawmakers. ‘We’re ending illegal immigration, returning sanity back to our immigration system, and we’re defending against cyberattacks against our critical infrastructure.’

        The former South Dakota governor, speaking about the global threats facing the country — including those posed by domestic extremists and radical Islamic terrorism — said the U.S. should brace for heightened risks as it prepares to host major events in 2026 such as the World Cup and the nation’s 250th birthday.

        ‘These large-scale events will be potential targets for a range of bad actors, and they come with an increased level of risk. DHS is using every tool and authority we have to ensure the safety of U.S. citizens, and our visitors can enjoy next year’s events,’ Noem added.

        Rumors had swirled in recent days that President Donald Trump was considering replacing her as head of DHS. Trump pushed back on those rumors on Wednesday, telling reporters that Noem has been ‘fantastic.’

        Noem also addressed the rumors, speaking to Fox News prior to Thursday’s hearing.

        ‘Oh, that’s absolutely not true,’ she said. ‘President Trump and I are doing wonderfully. I’m so proud to work for him, and I’m going to continue to serve at his pleasure.’

        Fox News’ Bill Melugin contributed to this report.

        This post appeared first on FOX NEWS

        One would think that running a profitable legal marijuana industry would be just about the easiest thing in the world, but don’t tell that to the Democrat leadership of Minnesota, which allowed wokeness and apparent corruption to grind their legalization rollout into dust.

        Wherever one lands on the benefits or increasingly evident harms of marijuana legalization, once a state decides to do it, it has a responsibility to do it in a way that most benefits all the citizens. Of course, Gov. Tim Walz and the Minnesota Democrats made it all about social equity.

        The 2023 legalization legislation mandated that for a year and a half, only Indian reservations could obtain licenses, a form of reparations similar to when New York mind-numbingly mandated that only people with previous marijuana convictions could open stores.

        The upshot is that today, several dispensaries in the state have no product and others have a dwindling supply. One dispensary operator told me with a sigh, ‘We might get a new supply next week.’

        And that’s not all, because the state has not approved enough licenses for transporting the product, much of it is sitting at farms, unable to get to market.

        But the worst part of this, one very much related to the current scandal over fraud committed by Somali groups supposedly feeding kids, is that the legislation provides millions of dollars in grants and loans to start weed shops based on wokeness and DEI.

        For example, the CanStartUp program ‘is a loan program available to new cannabis microbusinesses,’ in which a non-profit hands out the taxpayer cash ‘with priority given to social equity applicants.’

        ‘Social Equity Applicants,’ can be roughly read to mean no White guys.

        Dr. Scott Jensen, one of several Republicans seeking to stop Walz from winning a third term next year, said it is part of a pattern with Walz and his cronies.

        ‘The Walz team has repeatedly been characterized by a willingness to play political hardball by picking winners and losers, focusing on preserving voting blocks, rewarding loyalty over competence, ignoring employee input, and squashing transparency,’ Jensen told me.

        John Nagel, a former state trooper running as a Republican against Rep. Ilhan Omar, D-Minn., had a harsher assessment.

        ‘Minnesota Democrats are recreating the exact conditions that led to the Feeding Our Future scandal, only this time they’re doing it inside the state’s new marijuana industry,’ he said. ‘When you look at the pattern, it’s unmistakable. The same political class that let Feeding Our Future flourish is now designing the cannabis market using the same toolkit—DEI language as political cover, nonprofit intermediaries with insider ties, and almost no accountability.’

        He’s got a point. Why does Minnesota need to hand out millions of dollars to nonprofits to teach people how to sell weed? It’s not hard, just hang up a sign and ring up the sales.

        This kind of corruption is nothing new. In the 1920s, Democratic Party machines gave out no-show patronage jobs down at the docks. Today, they hand out needless multimillion-dollar DEI contracts. It’s the same game.

        The job of the government is to make things run efficiently for all citizens, not to infuse every project or policy with DEI initiatives that are little more than payoffs to loyal voter groups. Nationwide, the amount of money shelled out for this nonsense is in the billions.

        In the wake of the Feeding our Future scandal, it is obvious that the nonprofits involved in this DEI weed initiative must be investigated. How can anyone now trust that the money isn’t being abused?

        The cherry on top of this abysmal situation is that the inability of legal dispensaries to serve their clientele is driving people back to the black market, which will result in increased marijuana arrests, the very thing this legislation was meant to prevent in the first place.

        It’s honestly amazing.

        Meanwhile, few people here in the Land of 10,000 Lakes even know any of this is happening, because the local news media, which simply calls this all a ‘logistics problem,’ acts more like accomplices than arbiters of truth.

        Walz and the Democrats in Minnesota have no more benefit of the doubt when it comes to shady laws that shower money on DEI-driven nonprofits. It’s time to see where these millions of dollars to train up the next generation of cannabis workers really went.

        Perhaps the state can show that spending these millions of dollars had some positive result for Minnesota, but right now, it seems far more likely that the money just went up in smoke.

        This post appeared first on FOX NEWS

        Senate Democrats banded together to kill Republicans’ plan to replace expiring Obamacare subsidies on Thursday, knocking the first of two proposals down for the count.

        Senate Republicans’ plan from Sens. Bill Cassidy, R-La., and Mike Crapo, R-Idaho, the chairs of the Senate health and finance panels, would have abandoned the Obamacare enhanced premium subsidies for health savings accounts (HSAs), along with several reforms that Republicans appeared largely unified behind earlier this week.

        Still, not every Senate Republican voted for the bill. Sen. Rand Paul, R-Ky., joined all Senate Democrats in tanking the legislation on a largely party-line vote.

        Lawmakers are now set to vote on Senate Democrats’ plan, which would extend the subsidies for another three years. That proposal is also expected to fail, given that Senate Republicans broadly don’t want to extend the subsidies without myriad reforms.

        Senate Minority Leader Chuck Schumer, D-N.Y., and Senate Democrats have pitched their plan as the only option to prevent healthcare premiums from skyrocketing, while Republicans contended that the subsidies are rife with fraud and that the entire Obamacare system was causing premium prices to crank up year after year.

        ‘The Cassidy-Crapo [plan] is not a healthcare plan,’ Schumer said. ‘It’s not a plan at all. It’s an excuse. It’s a fig leaf. Because Republicans are so divided and can’t come up with a plan that unites them. They propose this fig leaf.’

        ‘My guess is most Republicans themselves are grimacing that they even have to vote for this thing,’ he continued. ‘How is a one-time check going to help you if you’re paying 1,000 or $2,000 a month more for health insurance?’

        Cassidy and Crapo’s plan would have seeded HSAs with $1,000 for people ages 18 to 49 and $1,500 for those 50 to 65 for people earning up to 700% of the poverty level. In order to get the pre-funded HSA, people would have to buy a bronze or catastrophic plan on an Obamacare exchange.

        It also included several provisions that didn’t make the cut in President Donald Trump’s ‘big, beautiful bill,’ including measures to reduce federal Medicaid funding to states that cover illegal immigrants, requirements that states verify citizenship or eligible immigration status before someone can get Medicaid, a ban on federal Medicaid funding for gender transition services and nixing those services from ‘essential health benefits’ for Obamacare exchange plans.

        It also included Hyde Amendment provisions to prevent taxpayer dollars from funding abortions through the new HSAs, a red line for many Senate Republicans that has proven divisive between the aisles.

        The deadline to either extend or replace the credits, which were first passed and then enhanced under former President Joe Biden during the COVID-19 pandemic, is at the end of the year.

        But whether the Senate acts before the deadline remains in the air, given that next week will be their last working week before leaving Washington, D.C., until the new year. There are several plans still on the table for lawmakers to choose from.

        Senate Majority Leader John Thune, R-S.D., said ahead of the vote that it was clear that Schumer wanted Senate Democrats to fall in line for the upcoming vote but noted that there were still ongoing bipartisan conversations, and he didn’t close the door a possible Obamacare fix with the limited time lawmakers had left before the clock runs out.

        ‘If there is an interest in solving that, I don’t rule it out,’ Thune said. ‘I mean, obviously we don’t have a lot of time to do this, but I think there are ways in which you could where there’s a will, and if there are two sides willing to come together.’

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