South Harz Potash Limited (SHP:AU) has announced Completion of Entitlement Offer
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South Harz Potash Limited (SHP:AU) has announced Completion of Entitlement Offer
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Nickel prices have experienced much volatility in the past few years due to uncertainty on both the demand and supply sides.
This trend has continued into 2025, and is expected to remain for the year. While this environment has been tough, some nickel stocks are still thriving amid the ongoing uncertainty.
Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle (EV) industry is one reason nickel’s outlook looks bright further into the future.
Battery nickel demand is poised to triple by 2030, according to Benchmark Mineral Intelligence.
“Mid and high level performance EVs will be the primary driver of battery nickel demand growth in the coming years, particularly in Western markets,” said Jorge Uzcategui, senior nickel analyst at the firm. “There will be growth in China, but it won’t be as pronounced as in ex-China markets.”
As for Canada, nickel is listed as a top priority in the government’s Critical Minerals Strategy. The country is the world’s fourth largest producer of nickel, with much of its production coming from mines in Ontario’s Sudbury Basin, including Vale’s (NYSE:VALE) Sudbury operation and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Sudbury Integrated Nickel Operations.
Many Canadian-listed resource companies also have important projects in the United States. While the US is only the 9th largest nickel producing country, the metal is listed on the nation’s Critical Minerals List and the government is keen on increasing its domestic production of nickel even if it means funding projects operated by Canadian nickel companies.
Against that backdrop, how have Canadian nickel stocks performed in 2025? Below are the top nickel stocks in Canada on the TSX, TSXV and CSE by share price performance so far this year.
All year-to-date and share price data was obtained on July 21, 2025, using TradingView’s stock screener. Canadian nickel stocks with market caps above C$10 million at that time were considered.
Year-to-date gain: 205.88 percent
Market cap: C$239.45 million
Share price: C$0.26
Talon Metals is focused on developing high-grade nickel resources for the US domestic battery supply chain. The company has partnered with mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) on the Tamarack nickel-copper project located in Minnesota, US. Talon has an earn-in right to acquire up to 60 percent of Tamarack and currently owns 51 percent.
An environmental review process is underway for the proposed Tamarack underground mine. The company plans to process ore from the mine at a proposed battery mineral processing facility in North Dakota. Talon has said it intends to initiate the permitting process for the processing facility in 2025.
Talon has a six year offtake deal with Tesla (NASDAQ:TSLA) set to commence once Tamarack enters commercial production, for a total of 75,000 metric tons, or 165 million pounds, of nickel concentrate, as well as cobalt and iron by-products, from Tamarack once it’s in commercial production.
The company is also the operator of the Boulderdash nickel-copper discovery and numerous high-grade nickel-copper prospects in Michigan, which it optioned to Lundin Mining (TSX:LUN,OTC Pink:LUNMF) in early March.
Talon has made multiple significant discoveries at Tamarack in 2025 that supported its share price. In late March, the company announced a significant massive sulfide discovery at Tamarack with an intercept measuring over 8.25 meters logged as 95 percent sulfide content.
After starting Q2 at C$0.12, Talon’s share price took off in earnest after the May 12 news of another massive sulfide discovery with this one measuring a cumulative 34.9 meters over 47.33 meters in total length starting at a depth of 762.34 meters — the thickest in the project’s history.
On June 5, Talon reported record assays from the new discovery at Tamarack, with the 34.9 meter intercept grading 57.76 percent copper equivalent or 28.88 percent nickel equivalent. Later that month, the company completed a C$41 million financing, with proceeds to be used to advance Tamarack.
After climbing through Q2, Talon shares hit a year-to-date high of C$0.28 on July 2.
Year-to-date gain: 140 percent
Market cap: C$13.38 million
Share price: C$0.06
Homeland Nickel has a portfolio of nickel projects in Oregon, US: Red Flat, Cleopatra, Eight Dollar Mountain and Shamrock. Previously named Spruce Ridge Resources, the company changed its name in mid-2024 in a vertical amalgamation after acquiring Homeland Nickel, which owned the Red Flat and Cleopatra nickel projects.
Benton Resources (TSXV:BEX) completed an earn-in agreement for a 70 percent interest in Homeland’s Great Burnt copper and South Pond gold projects in Newfoundland, Canada, last year.
In addition, the company holds investments in mining companies with nickel projects, including Benton Resources Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF), Noble Mineral Exploration (TSXV:NOB,OTCQB:NLPXF) and.
Shares in Homeland Nickel reached their year-to-date high of C$0.07 a few times this year between March 18 to April 16.
In early April, the company released an exploration update for its properties. At its Oregon nickel properties, a bulk sample program is being planned at Red Flats, an exploration program is planned for this year at Shamrock and a sampling program was upcoming at Eight Dollar Mountain.
On July 17, Homeland shared results from its Eight Dollar Mountain sampling program, with assays indicating the presence of nickel laterite in values ranging from 0.21 percent to 2.21 percent nickel with an average of 0.67 percent nickel across 56 samples.
Year-to-date gain: 91.67 percent
Market cap: C$53.61 million
Share price: C$0.23
Stillwater Critical Minerals’ flagship asset is its Stillwater West polymetallic project in Montana, US. In addition to the platinum-group elements, copper, cobalt and gold resources identified on the property, a January 2023 inferred mineral resource estimate on Stillwater West shows it has the largest nickel resource in an active US mining district.
In late March, the company reported multiple large-scale magmatic sulfide targets following analysis of a property-wide third-party MobileMtm magneto-telluric geophysical survey completed in late 2024.
The data from the survey was also used to build a new 3D geological model of the lower Stillwater Igneous Complex that the company used to further prioritize targets at Stillwater West for its 2025 drill campaign.
Stillwater Critical Minerals’ share price reached a year-to-date high of C$0.28 on June 2.
Drill rigs were mobilized in mid-June for the company’s 2025 drill program Stillwater West project, which aims to expand drill-defined high-grade sulfide mineralization in its advanced project areas and test priority targets identified with its earlier geophysical survey. The campaign will be conducted in collaboration with Glencore and technical partners ALS GoldSpot.
Stillwater competed a C$7 million financing in mid-July.
Year-to-date gain: 32.96 percent
Market cap: C$345.71 million
Share price: C$1.80
Magna Mining is a base metals exploration and development company based in Sudbury, Ontario. The company’s key assets are the Crean Hill project and the formerly producing Levack and Shakespeare mines. In July, Magna also recently acquired a portfolio of projects including past-producing assets from NorthX Nickel (CSE:NIX).
Shakespeare is a past-producing nickel, copper and platinum-group metals mine with major permits in place. The property hosts an indicated open-pit resource of 16.51 million metric tons at 0.56 percent nickel equivalent. Crean Hill also hosts a past-producing mine that produced the same resources.
Magna’s share price started off the year at C$1.42, and gradually climbed throughout the following weeks to reach a year-to-date high of C$1.84 on February 5.
Its share price was supported by continued positive updates on its acquisition of a portfolio of base metals assets in the Sudbury Basin, including the producing McCreedy West copper-nickel mine, through a share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA). The company closed the deal at the end of February.
Magna was included in the 2025 TSX Venture 50 list, which was released in mid-February, and closed a C$33.5 million private placement in early March.
The Ontario government awarded Magna C$500,000 in funding for the Crean Hill project in late June from the Critical Minerals Innovation Fund.
At Levack, the company reported significant drill results in July, highlighting a 2.9 meter interval of high-grade mineralization that included a 0.6 meter interval grading 2.6 percent copper, 8.1 percent nickel and 17.8 grams per metric ton combined platinum, palladium and gold.
Year-to-date gain: 23.85 percent
Market cap: C$303.04 million
Share price: C$1.35
Power Metallic Mines, formerly Power Nickel, is developing its 80 percent owned Nisk polymetallic property near Nemaska in Québec, Canada, which hosts high-grade nickel, copper, platinum, palladium, gold and silver mineralization.
The company was recognized as one of 2024’s top 50 performers on the TSX Venture Exchange, ranking as the top mining company and fourth overall company due to its 365 percent share price appreciation for the year.
Ongoing work at the Nisk project has generated positive news flow for Power Metallic in 2025. After starting the year at C$1.07, the company’s share price climbed to C$1.49 by January 30 following two key announcements.
First, the company released drill results from a 2024 fall campaign at Nisk’s Lion zone and said it was starting a winter 2025 drill campaign at the site. Shortly after, it announced the discovery of Tiger, a new find located 700 meters east of the Lion zone; it said it would target Tiger during winter drilling.
From there, Power Metallic shares jumped more than 26 percent to reach C$1.88 on February 6, its year-to-date high. This followed further drill results out the 2024 fall campaign, with notable assays further demonstrating the high-grade nature of the mineralization.
Other notable news supporting the company’s share price in Q1 included the closing of a C$50 million private placement and plans to scale up the 2025 winter drill campaign from three to six rigs in the second quarter. Additionally, further results from the 2024 fall campaign expanded the Lion zone with the deepest assayed intersection to date, plus initial nickel-copper assays from the new Tiger zone.
While its share price trended downwards through mid-May, it began moving back up in the second half of Q2, during which time the company expanded the Nisk and Lion deposit areas with the acquisition of 167 square kilometers of claims from Li-FT Power (TSXV:LIFT,OTCQX:LIFFF).
In July, Power Metallic announced that its summer to fall drilling program was well underway, with four drill rigs targeting the Lion, Tiger and Nisk deposits.
There are a variety of ways to invest in nickel, but stocks and exchange-traded products are the most common. Nickel-focused companies can be found globally on various exchanges, and through the use of a broker or a service such as an app, investors can purchase companies and products that match their investing outlook.
Before buying a nickel stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it’s critical to complete due diligence before making any investment decisions.
Nickel stocks like those mentioned above could be a good option for investors interested in the space. Experienced investors can also look at nickel futures.
Nickel has a variety of applications, including stainless steel, coins and lithium-ion batteries. Its main use is an alloy material for products such as stainless steel, and it is also used for plating metals to reduce corrosion. As for coins, its uses include the 5 cent coin, named the nickel, in the US and Canada; the US nickel is made up of 25 percent nickel and 75 percent copper, while Canada’s nickel has nickel plating that makes up 2 percent of its composition.
Nickel is also used in certain lithium-ion battery compositions, bringing demand from sectors like electric vehicles and energy storage systems.
The world’s top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and Russia make up the top three. Rounding out the top five are Canada and China. Indonesia’s production stands far ahead of the rest of the pack, with 2024 output of 2.2 million metric tons compared to the Philippines’ 330,000 metric tons and Canada’s 190,000 metric tons.
Significant nickel miners include Norilsk Nickel (MCX:GMKN), Nickel Asia, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Glencore.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Stallion Uranium Corp. (the ‘ Company ‘ or ‘ Stallion ‘ ) ( TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0 ) further to its news release of July 8 th 2025, the Company provides certain updates in respect of its technology licensing agreement dated July 7 th 2025 (the ‘ Technology Licensing Agreement ‘), amongst the Company and Matthew J. Mason (the ‘ Lessor ‘). The Lessor holds the exclusive license to certain proprietary technology and know-how that can be used to assist in area prioritization selection for the purposes of exploration for minerals (the ‘ Technology ‘), which was developed by an arm’s length Ph.D. geologist (the ‘ Licensor ‘).
In particular, the Lessor obtained its license in the Technology pursuant to the terms of a binding term sheet dated February 6 th , 2025, amongst the Lessor and the Licensor (the ‘ Underlying Agreement ‘). Pursuant to the terms of the Underlying Agreement, the Lessor’s license in the Technology shall be for a period of 2 years. In connection with the grant of the license to the Lessor from the Licensor, the Lessor and the Licensor shall form an unincorporated joint-venture whereby the Licensor shall contribute the Technology, and the Lessor shall contribute funding and marking expertise to collaboratively advance the development of the Technology. As of the date hereof, the Licensor has advanced funds of GBP280,000 pursuant to the Underlying Agreement.
Furthermore, the 3,750,000 common shares of the Company payable to the Lessor pursuant to the Technology Licensing Agreement shall be subject to a tier 2 value escrow agreement, with 10% of the escrowed securities being releasable at the time of the Final TSX-V Bulletin, and 15% of the escrowed securities being releasable every six months thereafter until released in full.
For more information regarding the Technology Licensing Agreement and the Technology, please refer to the Company’s news release of July 8 th , 2025.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. None of the securities issued pursuant to the Technology License Agreement have been, or will be, registered under the United States Securities Act of 1933, or any state securities laws.
About Stallion Uranium Corp.:
Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly 1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com .
On Behalf of the Board of Stallion Uranium Corp.:
Matthew Schwab
CEO and Director
Corporate Office:
700 – 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6
T: 604-551-2360
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, ‘forward-looking statements’) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ‘will likely result’, ‘are expected to’, ‘expects’, ‘will continue’, ‘is anticipated’, ‘anticipates’, ‘believes’, ‘estimated’, ‘intends’, ‘plans’, ‘forecast’, ‘projection’, ‘strategy’, ‘objective’ and ‘outlook’) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement .
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(TheNewswire)
TORONTO, ON TheNewswire – August 1, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI,OTC:SLCRF; OTCQX: SLCRF; FRA: QS0) ( ‘Silver Crown’ ‘SCRi’ or the ‘Company’ ) is pleased to announce it has executed an amendment (the ‘ Amendment ‘) to its silver royalty agreement originally dated December 13, 2024 (the ‘Agreement’ ) with PPX Mining Corp. ( TSXV: PPX; BVL: PPX) ( ‘PPX’ ) with respect to a silver royalty (‘ Silver Royalty ‘) on the Igor Project. The Amendment changes the capital deployment structure of the second tranche of the purchase price for the Silver Royalty (the ‘ Second Tranche Payment ‘) and the commencement date of the quarterly minimum Silver Royalty payments under the Agreement (the ‘ Minimum Royalty Payments ‘).
The Second Tranche Payment, originally set at US$1,470,000 and payable on or before August 6, 2025, has now been divided into two payments, with Silver Crown paying US$833,000 of the Second Tranche Payment to PPX today and with the remaining US$637,000 of the Second Tranche Payment now being due on or before December 31, 2025. Additionally, the commencement date for the Minimum Royalty Payments has been deferred from October 1, 2025, to March 31, 2026, subject to earlier commencement upon the startup of metallurgical operations at the Beneficiation Plant.
In accordance with the terms of the Agreement as amended by the Amendment, the payment of the first US$833,000 of the Second Tranche Payment today increased Silver Royalty payable to SCRi to the cash equivalent of 5.1% of the silver produced at the Igor Project (to an aggregate 11.1%), and the total payable silver ounces under the Silver Royalty increased by 76,500 ounces (to an aggregate total of 166,500 ounces). Upon payment of the remaining US$637,000 of the Second Tranche Payment on or before December 31, 2025, the Silver Royalty will further increase by 3.9% of the cash equivalent of the silver produced at the Igor Project (to a total of 15%), and the total payable silver ounces under the Silver Royalty will increase by an additional 58,500 ounces (to an aggregate total of 225,000 ounces) as contemplated by the Agreement.
Peter Bures, Silver Crown’s CEO, stated, ‘Increasing our royalty to 11.1% of the cash equivalent of the silver produced at Igor 4 (up from 6% in the first half of the year) is expected to be instrumental to our revenue growth in the immediate term. Amending the Second Tranche Payment offers flexibility to our partners as they continue to develop their infrastructure and presents an opportunity for SCRI to deploy capital in a more advantageous manner for shareholders. Furthermore, adjusting the Minimum Royalty Payments to a more advantageous timeline enables for any fine tuning during the initial phase of the Beneficiation Plant’s operation. We emphasize that the overall transaction terms remain unchanged per the Agreement: SCRI is still expected to receive the cash equivalent of 225,000 silver ounces over the next four years, of which approximately the cash equivalent of 1,600 silver ounces have already been delivered and will now be delivered at an increased rate.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:
Silver Crown Royalties Inc.
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire – All rights reserved.
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The Canadian province of Ontario has canceled a C$100 million ($68.12 million) satellite high-speed internet contract with Elon Musk’s company Starlink, following through with a vow by the province’s premier to cut ties in retaliation for U.S. tariffs imposed on Canada.
Stephen Lecce, Ontario’s minister of energy and mines, confirmed the cancellation of the contract for internet services at an unrelated news conference in Toronto on Wednesday. Lecce, who oversees broadband connectivity in Canada’s most populous province, didn’t say how much the termination would cost.
“I can confirm that the premier has fulfilled his word, which is to cancel that contract because of the very reasons he cited in the past,” Lecce said. “We are standing up for Canada.”
Under the terms of the deal, which Ontario signed last November, Starlink was to provide high-speed internet access to 15,000 eligible homes and businesses in more remote communities.
In February, Ontario Premier Doug Ford threatened to end the agreement with Starlink in response to U.S. President Donald Trump imposing tariffs on Canadian goods. He later postponed the cancellation after Trump agreed to a 30-day pause on tariffs.
SpaceX, Starlink’s parent, did not immediately respond to a request for comment.
Musk headed Trump’s drive to shrink the federal government and was a close ally before falling out with the president.
Canada and the U.S. are working on negotiating a trade deal by August 1, the date Trump is threatening to impose a 35% tariff on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement.
Earlier this week, Canadian Prime Minister Mark Carney said talks were at an intense phase while reiterating that a deal that would remove all U.S. tariffs was unlikely.
Lecce said Ontario has taken other measures against the U.S., including restricting the ability of U.S. companies to bid on provincial government contracts, removing U.S.-made alcoholic beverages from store shelves and working to decouple the province’s energy sector from the U.S.
SAN FRANCISCO — Apple on Thursday reported sales and profit that far surpassed expectations, showing that its efforts to re-route its sprawling global supply chain away from U.S. President Donald Trump’s trade war have so far succeeded.
Apple said it earned $94.04 billion in revenue for its fiscal third quarter ended June 28, up nearly 10% from a year earlier and beating analyst expectations of $89.54 billion, according to LSEG data. Its earnings per share of $1.57 per share topped expectations of $1.43 per share.
Sales of iPhones, the Cupertino, California, company’s best-selling product, were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.
Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam. Still, the company had warned investors that U.S. tariffs could cost it $900 million in the fiscal third quarter, and it trimmed its annual share buyback program by $10 billion, a move analysts viewed as helping to free up cash to remain nimble in uncertain times.
The ultimate tariffs many Apple products could face remain in flux, and many of its products are currently exempt. Sales in its Americas segment, which includes the U.S. and could face tariff impacts, rose 9.3% to $41.2 billion.
In an interview with Reuters, Apple CEO Tim Cook said the company set seasonal records for upgrades of iPhones, Macs, and Apple Watches. He said Apple estimates about 1 percentage point of its 9.6% of sales growth in the quarter was attributable to customers making purchases ahead of potential tariffs.
“We saw evidence in the early part of the quarter, specifically, of some pull-ahead related to the tariff announcements,” Cook told Reuters, though he also said the active user base for iPhones hit a record high in all geographies.
The U.S. is still negotiating with both China and India, with Trump saying India could face 25% tariffs as early as Friday. However, analysts said India could still retain cost advantages for Apple in the longer term.
Tariffs are only one of Apple’s challenges. The company faces competition from rivals such as Samsung in a tough market for premium-priced mobile phones. On the software front, Apple faces challenges from Alphabet, which is quickly weaving AI features into its competing Android operating system.
Apple has delayed the release of an AI-enriched version of Siri, its virtual assistant, but Cook said the company is “making good progress on a personalized Siri.” He also said Apple, which has thus far not engaged in the massive capital expenditures of its Big Tech rivals to pursue AI, is “significantly growing” its investments in artificial intelligence.
“Apple has always been about taking the most advanced technologies and making them easy to use and accessible for everyone, and that’s at the heart of our AI strategy,” Cook said.
Apple faces regulatory rulings in Europe that threaten to undermine its lucrative App Store business. Apple said sales from its services business, which includes the App Store as well as music and cloud storage, were $27.42 billion, topping analyst expectations of $26.8 billion.
Sales of wearables such as AirPods and Apple Watches were $7.4 billion, missing estimates of $7.82 billion. Mac sales of $8.05 billion beat expectations of $7.26 billion, while iPads hit $6.58 billion in sales, missing expectations of $7.24 billion.
In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were $15.37 billion, up from a year ago and above expectations of $15.12 billion, according to a survey of five analysts from data firm Visible Alpha.
Apple said gross margins were 46.5%, beating analyst expectations of 45.9%, according to LSEG estimates.
Steve Ricchetti, a longtime Democratic operative and lobbyist, is sitting down with House Oversight Committee investigators Wednesday.
He’s known as a member of former President Joe Biden’s inner circle who reportedly played a key role in downplaying concerns, both public and private, about the ex-commander-in-chief’s mental fitness for office.
Ricchetti also reportedly helped craft Biden’s historic letter announcing the end of his 2024 re-election bid that July, according to the New York Times.
But long before that, Ricchetti graduated from Miami University in Ohio and got a Juris Doctor from Virginia’s George Mason University.
His first major role in electoral politics came when Ricchetti served as executive director for the Senate Democrats’ campaign arm, the Democratic Senatorial Campaign Committee, from 1990 to 1992.
Ricchetti then worked for former President Bill Clinton as a congressional liaison from 1993 to 1996 and then again as White House deputy chief of staff for operations from 1998 to 2001.
During that second stint, he played a critical role in wrangling House Democrats during the GOP’s impeachment proceedings against Clinton.
In between and in later years, Ricchetti enjoyed a lucrative career as a lobbyist, even founding the lobbying firm Ricchetti Inc. with his brother in 2001.
His work with Biden began in 2012 when Ricchetti was appointed to be counselor to the vice president during the Obama administration – one of several ex-lobbyists appointed to that White House, despite former President Barack Obama’s vow not to hire K Street operatives. He was soon elevated to be Biden’s chief of staff in late 2013.
Ricchetti also chaired Biden’s 2020 campaign before playing a critical role in his administration, where he acted as part of a small ‘Politburo’ of close advisors who helped control the White House, Axios reporter Alex Thompson and CNN host Jake Tapper wrote in their book ‘Original Sin.’
‘In terms of who was running the White House, it’s a small group of people that have been around,’ Thompson told the PBS program ‘Washington Week’ earlier this year.
Several members of Ricchetti’s family also notably had roles in the Biden administration; two of his sons and his daughter worked for the Treasury, State Department, and in the White House, respectively.
At the time, the White House argued they got the jobs on their merits rather than their father’s closeness to Biden.
Ricchetti also reportedly played a key role in dismissing concerns about Biden’s mental health.
Two weeks after Biden’s disastrous debate against current President Donald Trump, the New York Times reported that Ricchetti got into a ‘shouting’ argument with Rep. Pete Aguilar, D-Calif., after the latter called to express concerns about Biden’s political viability.
U.K.-based outlet The Times reported that Ricchetti ‘sounded like a mob boss’ in a conversation with actor George Clooney days before the Hollywood star and longtime Democratic donor penned an explosive op-ed calling for a new 2024 nominee in early July 2024.
And multiple outlets have reported that Ricchetti also denied any concerns about Biden’s mental acuity in an off-the-record conversation with an unnamed reporter at an unnamed outlet that almost ran a story shining a light on concerns about Biden’s mental health.
Ricchetti is the seventh ex-Biden aide to speak with investigators in House Oversight Committee Chair James Comer’s probe into whether White House officials covered up signs of Biden’s decline.
President Donald Trump warned that his August 1 deadline for making a trade deal with the U.S. ‘stands strong’ on Wednesday, threatening several key nations with a big tariff hike.
‘The August first deadline is the August first deadline — it stands strong, and will not be extended. A big day for America!’ Trump wrote on Truth Social, using all-caps.
Here are the major countries that still need to negotiate deals with the U.S.
Trump sent a letter to Canadian Prime Minister Mark Carney threatening a 35% tariff if a deal isn’t struck, but negotiations appear to have stalled.
‘We haven’t really had a lot of luck with Canada. I think Canada could be one where they’ll just pay tariffs. It’s not really a negotiation,’ Trump said of the negotiations with our neighbor to the north on Friday.
Carney himself said on Monday that negotiations have reached an ‘intense phase.’
‘It’s a complex negotiation. You see with the various trade deals that have been agreed to by other jurisdictions — the European Union yesterday, Japan before that, Indonesia, United Kingdom — that there are many elements to these negotiations. We’re engaged in them. But the assurance for Canadian businesses, for Canadians, is we will only sign a deal that’s a good deal, the right deal for Canada,’ he told reporters Monday.
According to the US Trade Representative (USTR), Canada is America’s third-largest importer, totaling $412.7 billion in 2024. The U.S. exported $349.4 billion to Canada in the same year.
Trump sent a similar letter to Mexican President Claudia Sheinbaum earlier this month, this one threatening a 30% tariff.
No deal has been struck as of Wednesday, however, and neither party has been vocal about where negotiations stand.
Mexico is America’s top source of imports, totaling $506 billion in 2024, according to the USTR. Meanwhile, the U.S. exported $334 billion to the country over the same year.
Treasury Secretary Scott Bessent negotiated with Chinese officials in Sweden this week and said Tuesday that the talks were ‘very constructive.’
He emphasized to reporters that no final agreement was made, however. Unlike most countries, China is facing an August 12 deadline rather than August 1, giving them somewhat more breathing room for negotiations.
‘Nothing is agreed until we speak with President Trump,’ Bessent told reporters.
Commerce Secretary Howard Lutnick told Fox News on Monday that the deadline for China could be extended even further than August 12, though that decision will be up to Trump.
Trump warned South Korean President Lee Jae Myung in a July 7 letter that the country would face a 25% blanket tariff if a deal isn’t reached by August 1.
Lee’s office said late last week that it was preparing a proposal. Lutnick met with three top Korean officials in Washington this week, though no news has come out of the meeting.
Taiwan has yet to reach a trade deal with the Trump administration, but Taipei has a delegation in Washington hoping to reach one before August 1, Reuters reported Wednesday.
The self-governed island is facing a 32% tariff if it does not secure a deal.
‘All the relevant talks are still ongoing,’ one source familiar with the talks told Reuters, with another saying negotiators were still in the U.S.
‘We hope these negotiations will accomplish four objectives: safeguarding national interests, protecting industrial interests, ensuring public health, and securing food safety. These objectives serve dual purposes: promoting balanced bilateral trade between Taiwan and the U.S., and enhancing cooperation in diverse areas like technology and national security,’ Taiwan’s cabinet said in a statement.
Trump appears to have slammed the door shut early on India, announcing on Truth Social that the country will face a 25% tariff across the board beginning August 1.
‘Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary trade barriers of any country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — all things not good!’ Trump wrote.
‘India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August first. Thank you for your attention to this matter. MAGA!’ he added.
Trump threatened a massive 50% blanket tariff on Brazilian goods in a letter to Brazilian President Luiz Inácio Lula da Silva earlier in July.
Trump credited the higher rate to Brazil’s prosecution of former President Jair Bolsonaro, who many compared to Trump himself. The U.S. president said Bolsonaro was the victim of a ‘witch hunt.’
Lula’s regime has requested that the U.S. exempt certain industries from the tariffs, but a deal before August 1 appears unlikely.
The Treasury Department announced Wednesday that it would be officially imposing sanctions on Brazilian Supreme Federal Court Justice Alexandre de Moraes, the jurist leading a criminal investigation against former right-wing President Jair Bolsonaro.
News of the sanctions comes after President Trump threatened a 50% tariff on products from Brazil unless the country stopped what Trump has described as an ‘unjust’ and politically motivated case against Bolsonaro that is charging the former Brazilian president with organizing an attempted coup. A notice announcing the sanctions from the Treasury Department alleged De Moraes has been using his position to authorize ‘arbitrary’ pre-trial detentions, suppress freedom of speech and target political opponents.
‘Alexandre de Moraes has taken it upon himself to be judge and jury in an unlawful witch hunt against U.S. and Brazilian citizens and companies,’ Secretary of the Treasury Scott Bessent. ‘De Moraes is responsible for an oppressive campaign of censorship, arbitrary detentions that violate human rights, and politicized prosecutions—including against former President Jair Bolsonaro.’
‘Today’s action makes clear that Treasury will continue to hold accountable those who threaten U.S. interests and the freedoms of our citizens,’ Bessent added.
As a result of the sanctions, all of De Moraes’s property and assets that are located within the United States, or that are in the possession of any U.S. persons, have been frozen. That also includes any assets where De Moraes has a 50% or more stake.
Any corporations or financial institutions that engage in certain transactions or activities deemed to violate the sanctions against De Morae also risk exposure to sanctions themselves, the Treasury Department also indicated.
The Trump administration’s sanctions against De Moraes stem from the president’s first-term Executive Order 13818, which declared a national emergency with respect to human rights abuses and corruption around the world. The 2017 executive order, according to the Treasury Department, builds on the Global Magnitsky Human Rights Accountability Act passed in 2016, which allows the president and the Treasury’s Office of Foreign Assets Control to impose sanctions on foreign officials responsible for human rights violations.
Rumors the U.S. might levy sanctions targeting De Moraes were reported earlier this month as Bolsonaro’s son, Eduardo, was reportedly working closely with the White House to push the United States to impose sanctions.
De Moraes, a Brazilian Supreme Federal Court Justice, has been leading the case against Bolsonaro, steering key developments in the case as its official ‘rapporteur,’ which followed an 884-page report by the Brazilian Prosecutor-General Paulo Gonet detailing a scheme alleging Bolsonaro and 33 others participated in a plan to remain in power despite losing to current President Luiz Inácio Lula da Silva.
The case against Bolsonaro alleges the attempted coup involved the systematic sowing of national distrust in the electoral system among the populace, drafting a decree to give the plot a veneer of legality, and pressuring top military brass to go along with the plan and inciting a riot in the capital.
A panel of justices on Brazil’s Supreme Court accepted the charges against Bolsonaro in March, and ultimately ordered the former leader to stand trial. All five justices ruled in favor of accepting the charges, which included accusations involving a plan to poison Bolsonaro’s successor and kill a Supreme Court judge.
A Senate Republican wants the Justice Department to investigate, and potentially prosecute, former Special Counsel Jack Smith over whether he ‘unlawfully took political actions to influence the 2024 election’ against President Donald Trump.
Sen. Tom Cotton, who chairs the Senate Intelligence Committee, accused Smith of seeking to impact the 2024 election in his capacity as special counsel under the Biden-led Justice Department in a letter to the acting head of the Office of Special Counsel, Jamieson Greer, first obtained by Fox News Digital.
‘As the Office of the Special Counsel is tasked with ensuring federal employees aren’t conducting partisan political activity under the guise of their federal employment, you’re well situated to determine whether Smith broke the law,’ the Arkansas Republican wrote.
‘Many of Smith’s legal actions seem to have no rationale except for an attempt to affect the 2024 election results – actions that would violate federal law,’ he continued.
Smith was tapped by former Attorney General Merrick Garland to probe allegations that Trump sought to overturn the 2020 election results, and later investigated the handling of classified documents that were uncovered during a raid at Trump’s Mar-a-Lago compound.
Cotton listed four instances during Smith’s tenure where he charged that the prosecutor sped up trial dates and published information ‘with no legitimate purpose.’
In one example, Cotton accused Smith of fast-tracking the trial date and jury selection for his case against Trump related to his August 2023 indictment that was part of his 2020 election investigation.
That indictment included four charges against the president, including conspiracy to defraud the United States, obstruction of an official proceeding, conspiracy to obstruct an official proceeding, and conspiracy against rights.
Cotton argued that, typically, defendants have more than two years to prepare for that kind of trial, and noted that the jury selection period was slated just two weeks before the Iowa Caucuses in 2024.
He also charged that Smith skirted the normal appellate process and ‘failed to articulate a legitimate reason’ the court should grant his request when Smith demanded a trial before the forthcoming election day, wanted an expedited review by the appeals court and then filed a petition with the Supreme Court to bypass the district court after Trump filed his defense with the District of Columbia District Court in December 2023.
Cotton accused Smith of violating the Justice Department’s ’60-day rule,’ that prevents prosecutorial steps from being taken that could influence an upcoming election. That charge stemmed from Smith’s move to file a brief following the Supreme Court’s decision regarding presidential immunity, which was granted on Sept. 26, 2024, a little over a month out from the election.
And that brief, Cotton noted, exceeded the normally allowed length four times over and included grand jury testimony ‘typically kept secret at this point in other proceedings.’
‘These actions were not standard, necessary, or justified – unless Smith’s real purpose was to influence the election,’ Cotton said. ‘In fact, throughout Special Counsel Smith’s tenure, he regularly used farfetched and aggressive legal theories to prosecute the Republican nominee for president. I would add that President Biden also called during the election for President Trump to be ‘locked up.’’
‘President Trump, of course, vanquished Joe Biden, Jack Smith, every Democrat who weaponized the law against him, but President Trump’s astounding victory doesn’t excuse Smith of responsibility for his unlawful election interference,’ he continued. ‘I therefore ask the Office of Special Counsel to investigate whether Jack Smith or any members of his team unlawfully acted for political purposes.’
Fox News Digital reached out to Smith but did not immediately hear back.