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Rising US-Venezuela Tensions, CPC Shutdown Push Oil Prices Higher

Oil prices climbed higher on Monday (December 1) as an escalation in US-Venezuela tensions reached a fever pitch, offsetting weeks of losses driven by oversupply expectations.

The shift also came after the Caspian Pipeline Consortium (CPC), a key transit route that carries about 1 percent of global oil, halted operations over the weekend. The company reported that a mooring point at its Russian Black Sea terminal was damaged in a Ukrainian drone attack, temporarily curbing exports.

Ukraine has also targeted two oil tankers heading toward Novorossiysk, further rattling market sentiment.

The supply shock landed just as OPEC+ opted to leave production levels unchanged for Q1 2026.

The group had signaled the possibility of a pause as early as November, seeking to avoid exacerbating what analysts feared could become a sizeable glut. The decision provided a modest anchor for traders recalibrating expectations.

“For some time, the narrative has centred on an oil glut, so OPEC+’s decision to maintain its production target provided some relief and helped stabilise expectations for supply growth in the coming months,” Anh Pham, senior analyst at data provider LSEG, explained to Reuters.

Even with Monday’s rise, both Brent and WTI futures settled lower this past Friday (November 28). This marked their fourth straight monthly decline and the longest losing streak since 2023.

Venezuela condemns US “colonialist threat”

A far more dramatic source of volatility also emerged from Washington over the weekend.

On Saturday (November 29), US President Donald Trump declared that “the airspace above and surrounding Venezuela” should be considered closed, posting a warning on social media.

Trump also told service members last week that US forces would “very soon” begin land-based operations targeting Venezuelan drug-trafficking networks. Further, reports surfaced that the White House and Caracas had held a tense, last-ditch phone call aimed at defusing a worsening standoff.

According to sources cited by the Miami Herald, Washington told President Nicolás Maduro he could secure safe passage for himself, his wife Cilia Flores and his son only if he stepped down immediately. The conversation stalled as Venezuela refused to surrender control of its armed forces or agree to Maduro’s resignation.

Washington has been increasingly aggressive toward what it describes as Venezuela’s Cartel de los Soles, which US officials accuse Maduro and senior leaders of operating.

Last month, the Department of State’s decision to designate the cartel a foreign terrorist organization placed Maduro, Diosdado Cabello and Vladimir Padrino López in the same legal category as al-Qaeda and ISIS.

Caracas condemned the aggression, labeling it as a “colonialist threat” seeking support from its allies.

On Sunday (November 30), Maduro issued an appeal to fellow OPEC members, urging the bloc to help counter what he described as “growing and illegal threats” from the United States.

In a letter published by state broadcaster TeleSUR, he accused Washington of trying to “seize” Venezuela’s oil reserves and warned that US military pressure could disrupt the global energy market.

“I hope to count on your best efforts to help stop this aggression, which is growing stronger and seriously threatens the balance of the international energy market, both for producing and consuming countries,” Maduro wrote.

Venezuela exported just US$4.05 billion worth of crude oil in 2023, far below other major producers, due largely to US sanctions imposed during Trump’s first term.

Brent crude stood at US$62.76 per barrel on Tuesday (December 2) morning, while WTI was trading at US$58.93.

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

This post appeared first on investingnews.com

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US Capital Gains Tax Guide for Gold and Silver Investors

As gold and silver continue to prove their worth as sound investments, market participants should know how capital gains taxes are calculated for precious metals investments in the US.

While the majority of gold and silver investing comes with a certain degree of taxation, there are different levels of capital gains taxes based on how market participants decide to invest in these precious metals, how long the investments are held for and the investor’s individual tax bracket.

Read on for a breakdown of capital gains taxes associated with investing in gold and silver bullion, ETFs and stocks, as well as the forms involved with reporting precious metals investments.

In this article

    How are capital gains from gold and silver bullion taxed?

    Gold and silver bullion, coins and bars are seen as collectibles by the Internal Revenue Service (IRS) in the US. Thus, physical gold and physical silver, no matter the form, are subject to a higher rate of capital gains tax when they are sold. The same is true for fellow precious metals platinum and palladium.

    While long-term capital gains would typically carry a top bracket of 20 percent, collectibles can be taxed at a higher 28 percent.

    The total an investor will owe in capital gains tax when selling gold and silver bullion is based both on their income bracket and the length of time they held the asset.

    The long-term capital gains tax on physical gold and silver is equal to an investor’s marginal tax rate, up to a maximum of 28 percent due to their status as a collectible, meaning those in higher tax brackets still only have to pay 28 percent on long-term gains from physical precious metals sales.

    It is worth noting that the 28 percent maximum is only for long-term capital gains, which applies to metals that an investor has held for more than one year. Short-term capital gains on precious metals held for less than one year are taxed at ordinary income rates.

    For example, a person in the highest tax bracket purchased 100 ounces of physical gold at US$1,800 per ounce and two years later sold their holdings for US$2,000 per ounce. While they are in the 37 percent tax bracket, they would pay 28 percent tax on the capital gains made from these sales. As they earned US$20,000 in capital gains, that would translate to US$5,600 in income tax.

    However, if the investor sold the gold at the same gain just 11 months after they purchased it, it would count as short-term capital gains, and the investor would be taxed at 37 percent and owe US$7,400.

    Investors who are in one of the tax brackets below 28 percent are taxed at the standard rate of their bracket when selling their solid gold and silver assets, whether they are held short- or long-term.

    Similarly to other investments, precious metals sold at a loss can be used to offset capital gains.

    How are capital gains from gold ETFs and silver ETFs taxed?

    In terms of taxation, capital gain taxes from selling gold ETFs and silver ETFs can vary significantly based on the ETF’s holdings, the investor’s tax bracket and how long they held the asset for.

    Funds will often supply investors with tax forms that they can use to fill out their income tax. The webpage for a fund should have a document describing how income tax is handled for that fund, which is worth reading before investing in it.

    There are two main types of gold and silver ETFs: those that track the prices of precious metals and those that track gold or silver stocks.

    ETFs that follow metals prices hold either bullion, or gold or silver futures contracts. It is important to keep in mind that investing in these ETF platforms does not allow investors to redeem gold or silver bullion, with few exceptions.

    ETFs that invest in gold or silver companies provide hold gold and silver mining stocks, as well as precious metals royalty and streaming stocks.

    So how much are investors taxed for capital gains on precious metals ETFs?

    As mentioned above, it depends on the length they are held; short-term capital gains taxes apply to assets held less than one year, and long-term capital gains taxes apply to those held over one year.

    Short-term capital gains made from selling gold or silver ETFs that hold physical metals or mining stocks will be taxed at the investor’s tax bracket, up to a maximum federal rate of 37 percent.

    Long-term capital gains from selling gold and silver ETFs that hold stocks are capped at a 20 percent maximum federal income tax rate, because ETFs that hold stocks are taxed in the same way as traditional securities, which you can read more about in the following section.

    Regarding gold and silver ETFs that hold physical metals, long-term capital gains from selling shares of these are subject to a 28 percent maximum rate because the holdings are considered collectibles, meaning they are taxed at the same rate as bullion as described in the section above.

    Capital gains on futures-based commodity ETFs can often differ significantly from the others, as they can come with their own set of rules that you can learn about here. Briefly, futures ETFs are often taxed in a 60/40 hybrid, with 60 percent treated as long-term gains and 40 percent treated as short-term gains. Additionally, this is calculated at the end of each tax year, whether a sale is made or not.

    Lastly, short-term and long-term capital gains on any ETFs could be subject to a 3.8 percent net investment income tax for high net-worth investors, and a state income tax may also apply.

    How are capital gains from gold and silver stocks taxed?

    In terms of tax on gold stocks and silver stocks, long-term gains from selling are subject to the standard 20 percent maximum federal rate, while short-term gains will face a maximum federal rate of 37 percent.

    For investors in higher income brackets, there is the potential for gold and silver stock investments to also be hit with the 3.8 percent net investment income tax as well as state income tax.

    Unlike physical precious metals and ETFs that hold them, precious metals stocks are not classified as collectibles, which is why the long-term capital gains tax is capped at 20 percent instead of 28 percent.

    Stocks sold at a loss are important as well as they can be used to offset capital gains when filing income tax.

    How to report taxes on physical gold and silver investments

    Market participants who sell precious metals bullion in the US for a profit are required to report that profit on their income tax return, regardless of whether or not the dealer has any reporting obligation.

    When selling gold and silver coins and bars in the US, there are two different sets of reporting guidelines — one applies to the dealer through which a person sells and the other applies to the investor who is selling the asset.

    It is important to note that taxes on the sale of gold and silver will not be due the moment that the sale is made, and the tax bill for all of these sales is due at the same time as a standard income tax bill.

    For investors selling precious metals, capital gains or losses need to be reported on Schedule D of Form 1040 when making a tax return.

    Investors will first need to detail their precious metals transactions on Form 8949, including the length of time the investments were held. This form must be filed alongside Schedule D. Investors then use this information alongside the 28% Rate Gain Worksheet included in the Schedule D instructions.

    Depending on the type of metal being sold, Form 1099-B may have to be submitted to the IRS by the broker when the sale closes, as such transactions are considered income. As for when a broker will need to file Form 1099-B, there are specific rules that determine which sales of precious metals require the dealer to file this form that apply to transactions over a 24 hours period.

    For gold sales, reportable items include specific gold coins, including the 1 ounce Canadian Gold Maple Leaf and Gold Krugerrand, and gold bars and rounds of at least 0.995 fineness. As for quantity, only sales of more than 25 gold coins and or more than 1 kilogram in gold bars and rounds will require the form.

    Sales of 0.999 fine silver bars and rounds totaling over 1,000 ounces are reportable. For silver coins, US coins with above 90 percent silver are reportable, but Silver American Eagle coins are not. Sales of silver coins exceeding US$1,000 will require a form.

    When it comes to selling gold and silver overseas, market participants must follow the laws as they apply to the sale of gold and silver investments in that particular country.

    The information in this article does not constitute tax advice, and investors should work with a tax professional or program to help them make sure everything is reported accurately.

    FAQs for capital gains taxes on precious metals

    Do you pay capital gains tax on gold?

    Yes, US investors selling gold coins, bars and other bullion will be taxed on any capital gains made from those sales when reporting their income tax, with the tax rate dependent on whether the precious metals were held short-term or long-term and their tax bracket.

    Are precious metals subject to capital gains tax?

    Yes, sales of precious metals coins, bars and ETFs are subject to capital gains tax at varying rates. Because of this, you have to report gains and losses from precious metals on your income tax.

    Are gold coins and bars exempt from capital gains taxes?

    No, gold coins and gold bars are not exempt from capital gains taxes, meaning investors who sell their precious metals bullion must declare capital gains and capital losses on their income tax.

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

    The information in this article does not constitute tax advice, and investors should work with a tax professional or program to help them make sure everything is reported accurately.

    This post appeared first on investingnews.com

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    Edward Sterck: Platinum in “Deep Deficit” Again, Will Price Keep Rising in 2026?

    Edward Sterck, director of research at the World Platinum Investment Council (WPIC), shares the organization’s platinum outlook heading into 2026.

    After a third consecutive deficit in 2025, the WPIC anticipates balance next year, but Sterck explained that there are factors that could change that outlook.

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

    This post appeared first on investingnews.com

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    Gold Price Forecast: Top Trends for Gold in 2026

    Gold has reached once-unthinkable prices in 2025, gaining over 60 percent by early December.

    Looking ahead to 2026, experts believe the major themes that carried the gold price to new heights this year will continue to underwrite its trajectory in the months ahead, boosting the metal even further.

    What are the top trends shaping the gold market, and what should investors expect in the new year?

    Trade tensions to stoke ETF and central bank gold demand

    US President Donald Trump’s aggressive trade policies have injected a high level of volatility into a world economy that was already reeling from ongoing regional conflicts.

    This type of uncertainty reliably encourages investors to seek safe havens, and that theme dominated much of the gold story for 2025. Heading into the new year, analysts see no end to this trend.

    Strong gold exchange-traded fund (ETF) inflows and central bank purchases are projected to continue into next year as investors, particularly in the west, increasingly recognize the hedge value of gold.

    Global financial services firm Morgan Stanley (NYSE:MS) sees demand for gold from ETFs and central banks pushing the gold price back up above US$4,500 per ounce by mid-2026.

    The World Gold Council (WGC) also expects the themes of risk and uncertainty to continue driving gold.

    “My sense is that we’re going to continue to see these challenges in 2026.”

    Cavatoni expects this will translate into continued strong ETF flows and central bank demand for the monetary metal for 2026, although central bank buying may come at a slower pace than the past few years.

    Gold as a hedge against potential AI stock bubble

    Another potential 2026 tailwind for gold is a correction in artificial intelligence (AI) stocks.

    Analysts are increasingly warning that this could happen, and it’s possible that AI bubble meltdown concerns may push more investors away from equities and into gold in the coming year.

    Michael Hartnett, chief investment strategist at Bank of America Global Research, told his clients in late October that gold may be one of the strongest hedges if the AI bubble bursts.

    Similarly, Macquarie analysts are warning that if AI tech firms and their clients can’t demonstrate a return on their huge investments in the emerging technology, gold may be the best bet for protection against the resulting market fallout: “Optimists buy tech, pessimists buy gold, hedgers buy both.’

    Weak US dollar, low interest rates price positive for gold

    The gold price has an inverse relationship with the US dollar and real interest rates. Indeed, Morgan Stanley’s US$4,500 gold forecast for mid-2026 is predicated on a weaker dollar and lower rates.

    Lower rates typically weaken the dollar, and Trump has been pressuring the US Federal Reserve to drop rates since taking office. With Fed Chair Jerome Powell’s term due to end next year, market watchers are anticipating that a more dovish Fed head will take the helm. This means that more rate cuts are likely on the table for 2026.

    A softer dollar and a low rate environment would provide foundational support for further gold price gains. The resulting inflation is expected to push the Fed toward quantitative easing (QE), or the purchasing of government bonds to increase money supply and lower long-term rates, which would further bolster the yellow metal’s appeal.

    At its October policy meeting, the Fed stated that its quantitative tightening activities (allowing bonds to mature without reinvesting the proceeds) would end on December 1.

    “Frankly … interest expense for the federal government is running at US$1.2 trillion a year (and) the budget deficit is US$1.8 trillion a year, so the interest is really contributing to the deficit,” he said. “The US federal government really needs lower rates, or else interest is going to continue to consume a big piece of their revenues.”

    Lepard believes investors are keenly aware that lower rates are coming, which naturally means more inflation. This realization is enhancing gold’s investment appeal.

    Gold price forecasts for 2026

    Heading into 2026, Fed monetary policy changes are likely to give gold another boost to the upside.

    “As we move through the year, as the Federal Reserve transitions to QE and maybe yield curve control and money printing, the (precious) metals themselves will catch another leg up,” said Lepard.

    “Gold will go through US$4,500 toward US$5,000, silver will go to US$60 or US$70 and (gold and silver) stocks will all go up another 30 percent pretty easily, and then maybe more over the next 12 months,’ he added.

    Global financial services provider B2PRIME Group also sees gold’s average price in 2026 at around US$4,500 as US debt challenges and possible Fed rate cuts continue to bolster the value of the precious metal.

    Overall, most analysts’ gold price predictions for the upcoming year are in the US$4,500 to US$5,000 range.

    Metals Focus is forecasting an annual average high of US$4,560 in 2026, with gold potentially reaching a record US$4,850 in the fourth quarter. The firm sees these gains materializing despite a projected gold surplus of 41.9 million ounces in 2026, up 28 percent year-on-year; that would take mine production to another record high in 2026.

    Goldman Sachs (NYSE:GS) is predicting that gold could reach as high as US$4,900 next year on increased central bank buying and anticipated inflation-causing interest rate cuts by the Fed.

    For its part, Bank of America (NYSE:BAC) sees the yellow metal breaching US$5,000 in 2026 on growing deficit spending in the US and Trump’s ‘unorthodox macro policies.’

    Investor takeaway

    Ongoing uncertainty from trade tensions, a potential market correction in the AI sector, US debt challenges and anticipated shifts in Fed policy have fueled strong investment demand for gold as a safe-haven asset.

    Those demand drivers are not going away in 2026; in fact, they are likely to provide further foundational support that could propel the gold price to new record highs.

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

    This post appeared first on investingnews.com

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    Sankamap Updates Status on Late Filing of Financial Statements; Extends MCTO

    Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) further to the Company’s news releases dated October 21, 2025, November 4, 2025, and November 18, 2025, the Company continues to work towards the filing of its annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until December 28, 2025.

    While the audit of Sankamap’s private subsidiary has now been completed, timing adjustments in the subsidiary’s audit resulted in a brief postponement of fieldwork and the review of Sankamap’s audit file. The upcoming holiday period is also expected to affect scheduling. To support timely completion of the audit, the Company intends to appoint the subsidiary’s auditor as its auditor, as their familiarity with the Company’s mineral property and the Solomon Islands jurisdiction is expected to facilitate an expedited process. A change of auditor is underway, and the Company expects to file the required change of auditor documentation shortly.

    The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

    The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

    The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

    About Sankamap Metals Inc.

    Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

    Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

    At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

    At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

    1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

    2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

    3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

    QP Disclosure

    The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

    ON BEHALF OF THE BOARD OF DIRECTORS

    s/ ‘John Florek’
    John Florek, M.Sc., P.Geol
    Chief Executive Officer
    Sankamap Metals Inc.

    Contact:
    John Florek, CEO
    T: (807) 228-3531
    E: johnf@sankamap.com

    The Canadian Securities Exchange has not approved nor disapproved this press release.

    Forward-Looking Statements

    Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

    This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276869

    News Provided by Newsfile via QuoteMedia

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    Crypto Market Update: Strategy Faces MSCI Index Removal, SEC Freezes Ultra-Leveraged ETF Approvals

    Here’s a quick recap of the crypto landscape for Wednesday (December 3) as of 9:00 a.m. UTC.

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

    Bitcoin and Ether price update

    Bitcoin (BTC) was priced at US$92,758.95, up by 4.1 percent over 24 hours.

    Bitcoin price performance, December 3, 2025.

    Chart via TradingView.

    After Bitcoin stared the week with its largest single-day decline in a month, it rallied about 6.6 percent in 24 hours to reclaim US$93,000. This now marks Bitcoin’s highest intraday level in more than two weeks.

    Despite the cryptocurrency’s rebound, analysts are still urging caution and advising investors to await clearer macro signals before fully re-entering higher-risk assets.

    Ether (ETH) also regained ground and is currently priced at US$3,051.34, up 7.1 percent over 24 hours.

    Altcoin price update

    • XRP (XRP) was priced at US$2.19, an increase of 4.6 percent over 24 hours.
    • Solana (SOL) was trading at US$142.17, up by 6.6 percent over 24 hours.

    Today’s crypto news to know

    Strategy faces possible removal from MSCI indexes

    Michael Saylor’s Strategy (NASDAQ:MSTR) is in discussions with index provider MSCI as the company thinks about removing Strategy from major stock indexes, according to Reuters.

    MSCI is considering cutting companies whose business model is to buy crypto. Strategy currently holds about 650,000 BTC and has relied on new debt and equity issuance to add to its holdings.

    JPMorgan Chase (NYSE:JPM) estimates a removal could trigger up to US$8.8 billion in outflows if other index providers follow suit. Saylor said the company is participating in MSCI’s review process, but questioned the scale of possible selling projected by JPMorgan. A verdict is expected by January 15 of next year.

    Sony partner launches stablecoin for Soneium

    Startale Group has launched USDSC, a stablecoin pegged to the US dollar that is designed to serve as the default settlement currency on Sony Group’s (NYSE:SONY,TSE:6758) Soneium blockchain.

    According to a Decrypt report, the launch includes a new rewards program called STAR Points that is geared at encouraging user activity across payments, liquidity supply and app interaction. Soneium went live earlier this year following a test phase that drew 14 million users and processed 50 million transactions.

    Startale CEO Sota Watanabe said USDSC aims to support payments and yield generation across the network’s creator-focused ecosystem. Stablecoin infrastructure firm M0 is providing backend support for issuance and liquidity.

    A waitlist for the Startale app is open to users seeking early access to USDSC features and rewards.

    SEC blocks rollout of high-leverage ETFs

    The US Securities and Exchange Commission (SEC) has halted the approval process for multiple ultra-leveraged exchange-traded funds (ETFs), citing concerns about investor risk.

    Warning letters were sent to nine issuers, including Direxion, ProShares and Tidal, affecting products designed to offer more than 2x exposure to equities, commodities and cryptocurrencies.

    The SEC said the proposals exceed regulatory limits on allowable leverage and rely on benchmark definitions that may fail to reflect true market volatility. Some of the planned funds target exposure to highly volatile assets. No 3x or 5x single-stock ETFs currently exist in the US due to existing restrictions.

    Leveraged ETF trading has surged since 2020, with total assets rising to around US$162 billion.

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

    This post appeared first on investingnews.com

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    Starbucks to pay about $35M to NYC workers to settle claims it violated labor law

    Starbucks will pay about $35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules and arbitrarily cut their hours, city officials announced Monday.

    The company will also pay $3.4 million in civil penalties under the agreement with the city’s Department of Consumer and Worker Protection. It also agrees to comply with the city’s Fair Workweek law going forward.

    A company spokeswoman said Starbucks is committed to operating responsibly and in compliance with all applicable local laws and regulations in every market where it does business, but also noted the complexities of the city’s law.

    “This (law) is notoriously challenging to manage and this isn’t just a Starbucks issue, nearly every retailer in the city faces these roadblocks,” spokeswoman Jaci Anderson said.

    Most of the affected employees who held hourly positions will receive $50 for each week worked from July 2021 through July 2024, the department said. Workers who experienced a violation after that may be eligible for compensation by filing a complaint with the department.

    The $38.9 million settlement also guarantees employees laid off during recent store closings in the city will get the chance for reinstatement at other company locations.

    The city began investigating in 2022 after receiving dozens of worker complaints against several Starbucks locations, and eventually expanded its investigation to the hundreds of stores in the city. The probe found most Starbucks employees never got regular schedules and the company routinely reduced employees’ hours by more than 15%, making it difficult for staffers to know their regular weekly earnings and plan other commitments, such as child care, education or other jobs.

    The company also routinely denied workers the chance to pick up extra shifts, leaving them involuntarily in part-time status, according to the city.

    Starbucks Workers United members and supporters picket outside a Starbucks in New York on Nov. 21.Michael Nagle / Bloomberg via Getty Images

    The agreement with New York comes as Starbucks’ union continues a nationwide strike at dozens of locations that began last month. The number of affected stores and the strike’s impact remain in dispute by the two sides.

    This post appeared first on NBC NEWS

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    Apple’s AI chief abruptly steps down

    Apple’s top artificial intelligence executive is stepping down and will retire in 2026, the company announced Monday.

    John Giannandrea had been at Apple since 2018, where his official title was senior vice president for machine learning and AI strategy.

    He will be replaced by Amar Subramanya, who comes to Apple after a brief stint as corporate vice president of AI at Microsoft and more than a decade at Google.

    Subramanya will report to one of CEO Tim Cook’s deputies, Craig Federighi, rather than to Cook directly, as Giannandrea had.

    ‘AI has long been central to Apple’s strategy, and we are pleased to welcome Amar to Craig’s leadership team and to bring his extraordinary AI expertise to Apple,’ Cook said Monday.

    The abrupt change at a company known for its careful succession planning highlights Apple’s challenge as it tries to compete with top AI developers such as Google, ChatGPT owner OpenAI, Meta and Microsoft.

    Earlier this year, Apple delayed the release of an upgraded version of Siri with AI powered features. At the time, it said it was going to ‘take us longer than we thought’ to develop the new version.

    The company said it anticipated rolling out new features ‘in the coming year,’ but it has not offered any more specifics.

    ‘We’re making good progress on it, and, as we’ve shared, we expect to release it next year,’ Cook said on the company’s quarterly earnings call in late October.

    “With Apple Intelligence, we’ve introduced dozens of new features that are powerful, intuitive, private and deeply integrated into the things people do every day,” Cook said on the Oct. 30 call

    The company is targeting the spring to release the upgraded Siri, Bloomberg News recently reported.

    When a user grants permission, Siri can tap into ChatGPT’s broad world knowledge and present an answer directly.Apple

    While Apple’s iOS and macOS are integrated with ChatGPT, those features are somewhat limited.

    In recent weeks, Apple has reportedly neared deals to integrate with Google’s Gemini, as well as AI models from Perplexity and Anthropic.

    Apple introduced Apple Intelligence on June 10, 2024.Apple

    Apple’s stock has also felt the effect of what some perceive to be its lagging AI services.

    This year, Apple shares have returned 13%, which tops both Amazon and Microsoft. But shares of Oracle have popped 20%, Nvidia has surged 34%, and Google parent company Alphabet has soared 65%.

    Still, Apple remains the world’s second-largest publicly traded company, with a market value of $4.2 trillion, behind only Nvidia.

    Overall, the S&P 500 has risen almost 16% this year.

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    Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

    Tech billionaires Michael and Susan Dell announced Tuesday that they are pledging $6.25 billion to create some 25 million additional ‘Trump Accounts’ for children across the country.

    These accounts will be seeded with $250 each, and available for children who missed the eligibility cutoff for the $1,000 federally funded ‘Trump Accounts’ for babies born after Jan. 1, 2025.

    Children living in ZIP codes with median incomes below $150,000 will be the first to receive the funds, the White House said.

    ‘The greatest investment that we could possibly make is in children,’ Susan Dell said alongside President Donald Trump at the White House.

    ‘It’s really an amazing moment that two people would do that kind of a contribution,’ Trump said.

    The president said he was also talking to other wealthy donors and friends to potentially make similar contributions.

    Michael Dell; President Donald Trump.Errich Petersen; Chip Somodevilla / Getty Images

    Asked how this donation came to be, Michael Dell said: ‘We started talking about Texas only at the beginning. And then we thought about it some more, and we went back and forth, as we do on these things, and this is where we ended up.’

    The Dells said they considered making the pledge for a long time. But they said they didn’t want the pledge to be the end of their involvement.

    Michael Dell encouraged states to ‘really grow financial literacy’ to help educate families about how the accounts and markets work.

    ‘These deposits will reach the accounts of most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,’ the Dells said in a statement issued by their foundation.

    ‘Children older than 10 may benefit, too, if funds remain available after initial sign-ups,’ the Dell family said. ‘It is an incredibly practical and direct step to help families begin saving today.’

    The Dells say they ‘believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future.’

    The Dell family gift “is expected to reach nearly 80% of children age 10 and under across 75% of U.S. zip codes,” according to the nonprofit Invest America.

    Children born after Jan. 1 and until Dec. 31, 2028, will receive an account infused with a $1,000 investment from the U.S. Treasury, as part of the recently passed One Big Beautiful Bill.

    The accounts will open and begin accepting contributions starting on July 4, 2026. The accounts will initially be held by a financial firm designated by the Treasury Department, but later will be able to be transferred to any brokerage firm.

    Those accounts will also be eligible for additional contributions of up to $5,000 per year until the beneficiary child reaches age 18. Withdrawals from the accounts are not permitted until the children reach that age.

    Trump accounts can be invested only in low-cost index funds or ETFs that either mirror the S&P 500 or ‘another American stock index,’ according to the White House Council of Economic Advisers.

    ‘These investment accounts are simple, secure, and structured to grow in value through market returns over time,’ the Dell family said.

    ‘Trump Accounts represent a potentially valuable tool for building up savings and tapping the power of compound growth for the young,’ Charles Schwab tax planning director Hayden Adams recently wrote.

    If a family could contribute and invest the maximum $5,000 per year in the accounts, and with a reasonable growth rate of about 6%, ‘by age 18, the child’s account would hold around $191,000 in assets.’

    Once a child turns 18, the accounts are eligible to be converted to a traditional individual retirement account, ‘meaning it could continue to accumulate potential gains on a tax-free basis’ for many years.

    The Dells are one of the wealthiest families in America, with a fortune of nearly $150 billion, according to Bloomberg Billionaires. The family’s primary source of wealth is Dell Technologies, the company founded by Michael Dell in 1984.

    In recent years, the value of Dell shares have been fueled by the booming AI revolution, for which Dell is a supplier of servers and other technology.

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    Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

    MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

    The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.

    Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.

    Prada heir Lorenzo Bertelli will steer Versace’s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.

    The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn’t expect to make any swift executive changes at Versace. But Bertelli has said that the company, which places among the top 10 most recognized brands in the world, has long been underperforming in the market.

    Prada has underlined that the 47-year-old Versace brand offered “significant untapped growth potential.’’

    Versace has been in the midst of a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He had previously been head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.

    Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace’s bold profile in the recent era of “quiet luxury.″

    Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group’s pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church’s footwear, reported a 17% boost in revenues to 5.4 billion euros last year.

    The Prada Group has already begun preparations to incorporate crosstown rival Versace into its Italian manufacturing system, a point of pride for the group.

    “Making a bag for one brand or another, the know-how is the same,″ Bertelli told reporters last week at the group’s Scandicci leather goods factory, which already makes bags for the Prada and Miu Miu brands and will soon add Versace.

    The Prada Group’s has invested 60 million euros in its supply chain this year, including a new leather goods factory near Siena, a new knitwear factory near Perugia as well as increasing production at its factory Church’s footwear factory in Britain and expanding another Tuscan factory. That’s on top of 200 million euros in investments from 2019-24.

    Prada’s efforts include an academy that has trained some 570 new artisans over the last 25 years in an in-house training academy operating in the Tuscany, Marche, Veneto and Umbria regions.

    Last year, Prada hired 70% of the 120 artisans who trained in the academy. The number of trainees rose by 28% to 152 this year.

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