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Dana Samuelson, president of American Gold Exchange, discusses this year’s unusual market dynamics for gold and silver, saying there have been three big moves of physical metal.

‘To me, this is literally a run on the bank of gold globally — it’s global, it’s widespread and it’s deep, and I don’t see it changing anytime soon,’ he explained.

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

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Investing

Mike Maloney: Gold, Silver Bull Run in Final Phase, I Expect “Spectacular” Prices

Mike Maloney, founder of GoldSilver.com, explains why this time really is different for gold and silver, pointing to factors including growing mainstream adoption.

‘This to me signals the beginning of the third and final phase of the bull market — and that is where you have the greatest amount of gains in the shortest period of time,’ he said.

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

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Investing

Editor’s Picks: Gold and Silver Prices Rise as Government Shutdown Ends, Then Pull Back

The gold price was back in action this week, breaking above the US$4,200 per ounce level after spending about two weeks trading at lower price points.

Silver was on the rise again as well, pushing briefly past US$54 per ounce.

Both precious metals saw their biggest gains midway through the week as the US government shutdown came to an end. At 43 days, it was the longest in history, and finished on Wednesday (November 12) as eight Democrats broke ranks to vote in line with Republicans on a funding package.

US economic data has been scarce during the shutdown, and government agencies are now beginning to play catch up as workers return to their posts. While some reports are scheduled to come out next week, others could take weeks or may never be released at all.

‘Based on past shutdowns, we anticipate data originally scheduled for release in the first half of October — primarily data covering September — will be released fairly quickly. However, the timetable will vary depending on the normal data collection process for each indicator’ — Nancy Vanden Houten, Oxford Economics

From a gold perspective, all eyes are on numbers that may impact the US Federal Reserve’s interest rate decision next month. While the Fed has now made two cuts in 2025, Chair Jerome Powell emphasized after the central bank’s last meeting that a December reduction is not guaranteed.

More recent commentary from other Fed officials points to continued dissent, and CME Group’s (NASDAQ:CME) FedWatch tool currently shows an almost even split between a cut or a pause.

That uncertainty weighed on gold and silver prices as the week drew to a close. Gold was at the US$4,080 level as of Friday (November 14) afternoon, while silver was around US$50.60.

Bullet briefing — New Orleans takeaways

For our bullet briefing this week, I want to share a few highlights from the New Orleans Investment Conference, which our team attended from November 2 to 5.

At the time, the gold price was around US$4,000 and the silver price was in the US$48 dollar range, and my main takeaway from the experts I heard from was that the pullback would be temporary.

Given this week’s price activity, it looks like that idea is already being proven right. That said, it’s worth noting that most of the people I heard from weren’t expecting such a quick turnaround — in general, the consensus was that prices could remain at lower levels for weeks or months, with some saying gold could fall as low as US$3,600.

Does that mean a deeper correction is coming? Time will tell…

On that note, another topic that came up at the event frequently was taking profits. Quite a few people discussed how they did some trimming in October, when gold and silver prices were really running, and then put the money to work in other parts of the market.

For example, Rick Rule of Rule Investment Media talked about how he sold 25 percent of his junior gold stocks at that time. Here’s how he explained his decision:

‘We were in a period five weeks ago where there were no asks, there were all bids. And I’ve learned in the market to do what’s easy. If there’s no bids, be a bid. If there’s no asks, be an ask. And the sector was white hot. There were so many junior financings, and when a company’s financing, they’re telling you that your cash is worth more than their stock. Well, they should know what their stock is worth. Since they were selling, I decided I would sell some too.

‘But what was most important to me was personal. I’ve been a heavy investor in the sector since 2020, and I was at a period of time where I could, by selling a quarter of my position, recoup all of my capital and pay the capital gains tax and have the rest for free. I can be very patient with that remaining 75 percent.’

He redeployed the cash he got from selling gold juniors into physical gold, Agnico Eagle Mines (TSX:AEM,NYSE:AEM), Franco-Nevada (TSX:FNV,NYSE:FNV), Wheaton Precious Metals (TSX:WPM,NYSE:WPM) and oil and gas stocks.

Finally, while I’m always keen to understand what’s happening now, I also wanted to use this conference to start talking about what sectors will do well in 2026.

I asked almost all of my interviewees what they think next year’s top-performing asset will be, and I was surprised to get a fairly wide variety of responses.

Precious metals were definitely mentioned, with multiple people saying that while silver has made impressive moves this year, it hasn’t truly had a chance to shine.

But copper was also brought up numerous times, as was uranium. And I got a couple of outlier responses, including emerging markets, which Peter Schiff of Euro Pacific Asset Management discussed, and oil and gas, which Rule said would be his pick for top-performing asset in terms of risk to reward.

Rule also highlighted small-scale community banks in the US.

You can view the full New Orleans Investment Conference playlist here.

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

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Investing

Gold’s Long Game: New Orleans Panelists See More Upside Ahead

During the Mining Share panel at the New Orleans Investment Conference, participants underscored that the gold bull market will continue — however, just where we are in that bull run was up for debate.

For conference host and Gold Newsletter editor Brien Lundin, there is still some way to go.

“The gold bull market is still in place. We don’t know how long it’s going to last. That’s the hard part. I think gold’s going to US$6,000 to US$8,000 (per ounce) in the cycle, maybe more. (The) mining share bull market, I would say we’re probably in the fourth inning, fifth inning, maybe. But you know, we could go to extra innings,” he said.

Strategic investor Jeff Phillips also believes the gold bull market is at an early stage.

‘I would say that we are in the third or fourth inning,” he said. “This is early on in the bull market, but I do think there’ll be a rain delay, since we’re talking about baseball terminology. I think this is an epic bull market that we’re in.”

Phillips went on to compare today’s setup to past cycles, noting the strong run gold saw between 2003 and 2007, before the financial crisis briefly derailed momentum. Although he anticipates another correction at some point, he remains confident in the broader bull market and said he is continuing to buy and stay patient.

For Jordan Roy-Byrne, understanding the difference between a secular and cyclical bull market is imperative.

“Secular — that’s the major long-term trend that usually lasts a decade or longer. Cyclically, it can be anywhere from two to five years or so,’ explained the editor and publisher of the Daily Gold.

“I think the cyclical bull has three or four more years left. The risk when that gets long in the tooth is then you have what happened at 1975 to 1976, and also 2008 — that’s when you have your 65 or 60 percent decline in the shares.”

Although Roy-Byrne believes that type of correction is “far off into the future,” he was adamant that something like that will happen before the current secular bull market comes to an end.

Jennifer Shaigec, principal at Sandpiper Trading, said central bank buying shows the bull market is in its infancy.

“I think we’re still actually in fairly early innings,” she said. “The underlying fundamentals for why central banks have been buying gold have not changed. In fact, I can see it accelerating.”

Shaigec went on to acknowledge that gold often experiences a seasonal dip at this time of year, and that some investors may be waiting for a pullback. But she emphasized that the broader fundamentals remain strong.

Drawing a parallel to 2008, when gold fell about 22 percent before rebounding above previous highs within six months, she urged investors to keep a long-term perspective and be mentally prepared for short-term volatility. Shaigec also pointed out that gold has historically been among the first assets to recover after market downturns.

Rounding out the panel, Nick Hodge, publisher at Digest Publishing, told attendees that the gold correction has found short-term support at the US$4000 level, but longer-term support is around US$3,600.

“All the fundamental drivers, ie. the debt, central bank buying, etc., are still in place and haven’t abated,” he said. “Silver hasn’t had its move yet, so that tells me we still have some time to go. And GDX, GDXJ just started outperforming the gold price in August, so it’s still early to the middle days in the precious metal bull market.”

What’s next for the gold price?

From there, panel moderator and well-known investor Rick Rule, proprietor at Rule Investment Media, emphasized that the recent pullback in gold is minor in the context of a much larger, long-running bull market.

Rule agreed with Roy-Byrne’s distinction between cyclical dips and broader secular trends, noting that many investors seem rattled by what is essentially a normal fluctuation.

He pointed out that gold is still up dramatically over the past year, and that past cycles have seen far sharper drops — including a 50 percent decline in 1975 — that ultimately didn’t break the long-term trend.

Noting that precious metals cycles tend to follow a familiar pattern, beginning with strength in gold and moving outward into other segments, Rule asked the panel participants which companies in the gold sector — explorers, developers or potential M&A targets — are now best positioned as the market progresses.

For Hodge, exploration and brownfields development are a strong choice as the precious metals cycle evolves.

He noted that the VanEck Gold Miners ETF (ARCA:GDX) outperformed gold over the summer, prompting some investors to take profits and rotate capital into earlier-stage opportunities — momentum he expects to continue.

Hodge added that market cycles now move faster due to the speed of information, accelerating the shift from producers to companies further down the value chain as miners look to replace reserves.

Additionally, he pointed to a growing influx of risk-tolerant investors who cut their teeth in crypto and are increasingly drawn to gold and mining equities as they learn about fiat currency and counterparty risk. Their appetite for speculation, he said, is likely to push more capital into smaller, higher-risk exploration names over the next year.

Shaigec echoed Hodge’s sentiment.

“I agree there’s a lot of speculative money that has yet to rotate over to precious metals,” she said.

“I’m seeing a lot of oversubscribed private placements. I just think that juniors are still the place to be. There’s some grassroots exploration, which actually hit an all-time low in 2023, and we’ve still had decades of lack of investment in exploration. We have a lot of room yet to run there,’ Shaigec added.

Roy-Byrne advised watching silver, underscoring the value that gold’s sister metal has yet to gain.

“Silver, after this correction, has a chance to make a historic move,” he told the audience. “We’re probably going to see a lot of money jump in next year when that happens.”

Referring to an analogy he once heard, Phillips compared a precious metals bull market to the crack of a whip: producers move first, followed by mid-tier and single-asset developers, with exploration companies snapping into action at the very end. In his view, the market is only just reaching that final stage, and explorers have yet to see real upside.

Phillips also echoed other panelists’ comments that younger crypto investors are becoming more aware of inflation, money printing and the value of hard assets.

That shift, he said, is already showing up in unconventional moves, from stablecoin companies buying gold royalties to major tech firms and even governments directing capital into mining-related assets.

All of that suggests the speculative end of the sector is only beginning to come alive, he said.

Expert stock picks — Gold, silver, copper, nickel and uranium

Toward the end of the discussion, Rule asked each panelist to provide stock picks for the attentive audience.

First was Lundin, who praised the list of more than 100 exhibitors at the 51st New Orleans Investment Conference.

He recommended Delta Resources (TSXV:DLTA,OTCQB:DTARF), highlighting its “large, still undefined, gold resource in the Thunder Bay region.” He also likes Getchell Gold (CSE:GTCH,OTCQB:GGLDF), a company focused on gold in Nevada, and Seabridge Gold (TSX:SEA,NYSE:SA), which he dubbed a “permanent optionality play.”

For Phillips, Empress Royalty’s (TSXV:EMPR,OTCQB:EMPYF) management team, cashflow-positive status and focus on gold and silver puts the company at the top of his list.

Almadex Minerals (TSXV:DEX,OTCQX:AAMMF), where management has a history of finding multimillion-ounce deposits, and prospect generator Headwater Gold (CSE:HWG,OTCQB:HWAUF), were also among his stock selections.

Shaigec veered away from precious metals in recommending SPC Nickel (TSXV:SPC,OTCQX:SPCNF), a company with good geology and a management team that owns 36 percent of the firm’s shares.

She also mentioned Pacifica Silver (CSE:PSIL,OTCQB:PAGFF) citing the company’s recent private placement, which included First Majestic Silver (TSX:AG,NYSE:AG). Her last stock pick and “absolute favorite” is Camino Minerals (TSXV:COR,OTCID:CAMZF), a Peru-focused copper company with good management.

Rounding out the list were Hodge’s selections, starting with Northshore Uranium (TSXV:NSU) due to its US deposit. He also chose Kincora Copper (TSXV:KCC,OTCQB:BZDLF), citing its small market cap, strong investor interest and robust portfolio, and Kingsmen Resources (TSXV:KNG,OTCQX:KNGRF), a company that has seen its share price grow from C$0.25 to C$0.75 in the last year.

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

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Investing

Top 5 Canadian Mining Stocks This Week: Adex Mining Jumps 157 Percent on Tungsten Support

On Thursday (November 13), Canadian Prime Minister Mark Carney announced a second round of nation-building projects that will be referred to the Major Projects Office. The office was established earlier in the year to streamline the regulatory and funding processes for projects deemed to be in the national interest.

The first set of projects, announced on September 11, included support for the expansion of Newmont’s (NYSE:NEM,ASX:NEM) Red Chris mine in Northern British Columbia, LNG Canada’s phase 2 expansion of its facility in Kitimat, BC, and Foran Mining’s (TSX:FOM) McIlvenna Bay copper-zinc project in Saskatchewan.

According to the Prime Minister’s Office (PMO), the new set of projects represents more than C$56 billion in new investment and supports the creation of 68,000 new jobs.

Critical mineral projects on the list consist of:

Outside of critical minerals projects, the announcement included support for the Ksi Lisims liquefied natural gas (LNG) project near Prince Rupert in Northwest BC. The Nisga’a First Nation is leading the project and, when complete, it will become Canada’s second-largest LNG facility after LNG Canada’s Kitimat facility. According to the PMO, the project is expected to generate almost C$30 billion in investment and create thousands of jobs.

Additionally, support will be made available for the North Coast Transmission line, which will provide low-cost electricity and improved telecommunications to communities along BC’s north coast. Likewise, the Iqaluit Nukkiksautiit hydro energy project will receive support to provide hydroelectric energy to communities in Nunavut and reduce the reliance on diesel imports.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) rose 1.89 percent over the week to close Friday (November 14) at 30,326.46.

Meanwhile, the S&P/TSX Venture Composite Index (INDEXTSI:JX) rebounded to gain 1.33 percent to 879.88. The CSE Composite Index (CSE:CSECOMP) had another bad week, plunging 9.01 percent to close at 150.19.

The gold price rose significantly this week, climbing from its open of US$4,000 to US$4,243 by Thursday morning. However, it pulled back to end the week up 2.01 percent at US$4,080.64 per ounce by 4:00 p.m. EST Friday.

The silver price performed even better. After opening at US$48.35, it tested all-time highs at US$54.31 Thursday before ultimately ending the week up 4.57 at US$50.56.

Meanwhile, in base metals, the copper price gained 1.79 percent to US$5.11 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) rose 1.28 percent to end Friday at 559.27.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

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

Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Adex Mining (TSXV:ADE)

Weekly gain: 157.14 percent
Market cap: C$40.63 million
Share price: C$0.09

Adex Mining is an exploration company that holds a 100 percent stake in the Mount Pleasant project in Southwest New Brunswick, Canada.

The property contains two main deposits: the Fire Tower zone, which hosts tungsten and molybdenum mineralization, and the North zone, which hosts tin, zinc and indium.

The asset consists of 102 mineral claims covering 1,600 hectares, as well as equipment and facilities from historic mining operations conducted by BHP (ASX:BHP,NYSE:BHP,LSE:BHP) between 1983 and 1985.

According to its most recent investor presentation released on June 11, the property hosts the world’s largest indium reserve and North America’s largest tin deposit. Indicated resources for the North zone demonstrated contained metal values of 47 million kilograms of tin, and 789,000 kilograms of indium from 12.4 million metric tons with average grades of 0.38 percent tin and 64 parts per million indium.

Additionally, the company engaged Moneta Securities in June to oversee selling the mine following a strategic review.

Adex has not released news in the past week. However, its Fire Tower zone bears similarities to Northcliff’s Sisson tungsten-molybdenum project in New Brunswick, which the Canadian government referred to the Major Projects Office on Thursday.

2. Trident Resources (TSXV:ROCK)

Weekly gain: 118.82 percent
Market cap: C$42.58 million
Share price: C$1.86

Trident Resources, formerly Eros Resources, is a gold and copper exploration company focused on projects in Saskatchewan, Canada.

A three-way merger in early 2025 between Eros Resources, MAS Gold and Rockridge Resources allowed the companies to consolidate a portfolio of assets in Saskatchewan, including the Contact Lake and Greywacke gold projects in the La Ronge gold belt as well as the Knife Lake copper project.

Its primary focus has been on its flagship Contact Lake gold project, a 21,440 hectare property located near La Ronge, Saskatchewan. The project hosts four primary deposits: Contact Lake, Preview SW, Preview North and North Lake.

On Wednesday (November 12), the company released assay results from diamond drilling at Contact Lake, the first exploration conducted on the property in nearly 30 years. Highlights from the initial three holes included one hole with 7.03 grams per metric ton (g/t) gold over 43.25 meters, including an intersection of 30.06 g/t gold over 9.25 meters.

The company noted that, while it was still in the early stages of exploration at the property, it was encouraged by results that bore similarities to early results of other significant high-grade discoveries in the region.

3. Northcliff Resources (TSX:NCF)

Weekly gain: 116.22 percent
Market cap: C$279.18 million
Share price: C$0.4

Northcliff Resources is a development and exploration company advancing its Sisson tungsten-molybdenum project in New Brunswick, Canada.

The 14,140 hectare property has seen extensive exploration dating back to the early 1980s.

A 2013 mineral reserve estimate demonstrated total proven and probable quantities of 22.2 million metric tons of tungsten oxide and 154.8 million pounds of molybdenum from 334.36 million metric tons of ore with average grades of 0.07 percent tungsten oxide and 0.02 percent molybdenum.

The project is currently in the development stage, and on Friday, it announced it was granted a five-year extension to the construction commencement timeline by New Brunswick’s Department of Environment and Climate Change. Construction is now anticipated to begin in December 2025.

The project was also one of six that were included in the second-tranche of Canadian nation-building projects referred to the Major Projects Office on Thursday. The inclusion on the list will give Northcliff access to a streamlined regulatory process and open funding assistance to facilitate the development of Sisson.

Commenting on the news, Northcliff Chairman, President and CEO Andrew Ing indicated the company is excited with its inclusion and that its goal is to contribute to building a resilient critical mineral supply chain.

The release also outlined significant financial funding received since the start of the year, including US$15 million from the US Department of Defense and C$8.21 million from Natural Resources Canada.

4. Canada Nickel (TSXV:CNC)

Weekly gain: 61.54 percent
Market cap: C$334.66 million
Share price: C$1.68

Canada Nickel is an exploration and development company advancing its flagship Crawford nickel sulphide project in Ontario, Canada.

The property consists of 116 crown patents and 150 single- and multi-cell mining claims covering an area of approximately 9,600 hectares near Timmins and has seen exploration dating back to the 1960s.

A feasibility study released in October 2023 demonstrated the project’s economics, with a post-tax net present value of US$2.48 billion and an internal rate of return of 17.1 percent.

The included ore reserve estimate reported proven and probable reserves of contained metal values of 3.7 million metric tons of nickel, 9.7 million metric tons of chromium, 215,000 metric tons of copper, 777,000 ounces of palladium, and 519,000 ounces of platinum.

The metal is contained in 1.72 billion metric tons of ore with average grades of 0.22 percent nickel, 0.57 percent chromium, 0.013 percent copper, 0.014 g/t palladium and 0.01 g/t platinum.

Shares in Canada Nickel rose sharply this week after Crawford was included in the second round of projects referred to the Canadian government’s Major Project Office.

In its release following the announcement, Canada Nickel’s CEO said that the company looks forward to working with the government and the MPO to secure financing and permits to begin construction at Crawford by the end of 2026.

He also stated that the project represents a secure, domestic supply of critical minerals, including nickel and North America’s only source of chromium.

5. Gold Terra Resources (TSXV:YGT)

Weekly gain: 57.89 percent
Market cap: C$51.71 million
Share price: C$0.15

Gold Terra is an exploration company advancing the Con Mine gold property in the Northwest Territories, Canada.

The project was initially acquired as part of a 2021 agreement with Newmont that gave Gold Terra the option to earn a 100 percent interest in the asset for meeting certain exploration milestones and regulatory approvals, along with a C$8 million cash payment to Newmont.

The agreement was then amended in September 2024, extending the timeline by 2 years to November 21, 2027.

The property consists of 138 mining leases and 165 claims covering a total area of 79,046 hectares and hosts the historic Con Mine, which produced more than 6.1 million ounces of gold.

A mineral resource estimate included in an October 2022 technical report demonstrated a total inferred resource of 1.21 million ounces of gold from 24.3 million metric tons with an average grade of 1.54 g/t gold.

Shares in Gold Terra gained this week after the company announced a C$6.3 million non-brokered private placement that included a new strategic investment from Franco-Nevada (TSX:FNV,NYSE:FNV) Co-Founder David Harquail and existing shareholder Eric Sprott.

The company said it will use proceeds for general corporate purposes and to fund a drilling program scheduled for January 2026 at the southern end of the Campbell Shear target at the Con Mine property. The program aims to expand the property’s indicated and inferred resources.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

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

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

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

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

How much does it cost to list on the TSXV?

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

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

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

How do you trade on the TSXV?

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

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

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Business

More than 1,000 Starbucks workers strike at 65 stores on Red Cup Day

More than 1,000 unionized Starbucks workers went on strike at 65 U.S. stores Thursday to protest a lack of progress in labor negotiations with the company.

The strike was intended to disrupt Starbucks’ Red Cup Day, which is typically one of the company’s busiest days of the year. Since 2018, Starbucks has given out free, reusable cups on that day to customers who buy a holiday drink. Starbucks Workers United, the union organizing baristas, said Thursday morning that the strike had already closed some stores and was expected to force more to close later in the day.

Starbucks Workers United said stores in 45 cities would be impacted, including New York, Philadelphia, Minneapolis, San Diego, St. Louis, Dallas, Columbus, Ohio, and Starbucks’ home city of Seattle. There is no date set for the strike to end, and more stores are prepared to join if Starbucks doesn’t reach a contract agreement with the union, organizers said.

Starbucks emphasized that the vast majority of its U.S. stores would be open and operating as usual Thursday. The coffee giant has 10,000 company-owned stores in the U.S., as well as 7,000 licensed locations in places like grocery stores and airports.

As of noon Thursday on the East Coast, Starbucks said it was on track to meet or exceed its sales expectations for the day at its company-owned stores.

“The day is off to an incredible start,” the company said in a statement.

Around 550 company-owned U.S. Starbucks stores are unionized. More have voted to unionize, but Starbucks closed 59 unionized stores in September as part of a larger reorganization campaign.

Here’s what’s behind the strike.

Striking workers say they’re protesting because Starbucks has yet to reach a contract agreement with the union. Starbucks workers first voted to unionize at a store in Buffalo in 2021. In December 2023, Starbucks vowed to finalize an agreement by the end of 2024. But in August of last year, the company ousted Laxman Narasimhan, the CEO who made that promise. The union said progress has stalled under Brian Niccol, the company’s current chairman and CEO. The two sides haven’t been at the bargaining table since April.

Workers say they’re seeking better hours and improved staffing in stores, where they say long customer wait times are routine. They also want higher pay, pointing out that executives like Niccol are making millions and the company spent $81 million in June on a conference in Las Vegas for 14,000 store managers and regional leaders.

Dochi Spoltore, a barista from Pittsburgh, said in a union conference call Thursday that it’s hard for workers to be assigned more than 19 hours per week, which leaves them short of the 20 hours they would need to be eligible for Starbucks’ benefits. Spoltore said she makes $16 per hour.

“I want Starbucks to succeed. My livelihood depends on it,” Spoltore said. “We’re proud of our work, but we’re tired of being treated like we’re disposable.”

The union also wants the company to resolve hundreds of unfair labor practice charges filed by workers, who say the company has fired baristas in retaliation for unionizing and has failed to bargain over changes in policy that workers must enforce, like its decision earlier this year to limit restroom use to paying customers.

Starbucks says it offers the best wage and benefit package in retail, worth an average of $30 per hour. Among the company’s benefits are up to 18 weeks of paid family leave and 100% tuition coverage for a four-year college degree. In a letter to employees last week, Starbucks’ Chief Partner Officer Sara Kelly said the union walked away from the bargaining table in the spring.

Kelly said some of the union’s proposals would significantly alter Starbucks’ operations, such as giving workers the ability to shut down mobile ordering if a store has more than five orders in the queue.

Kelly said Starbucks remained ready to talk and “believes we can move quickly to a reasonable deal.” Kelly also said surveys showed that most employees like working for the company, and its barista turnover rates are half the industry average.

Unionized workers have gone on strike at Starbucks before. In 2022 and 2023, workers walked off the job on Red Cup Day. Last year, a five-day strike ahead of Christmas closed 59 U.S. stores. Each time, Starbucks said the disruption to its operations was minimal. Starbucks Workers United said the new strike is open-ended and could spread to many more unionized locations.

The number of non-union Starbucks locations dwarfs the number of unionized ones. But Todd Vachon, a union expert at the Rutgers School of Management and Labor Relations, said any strike could be highly visible and educate the public on baristas’ concerns.

Unlike manufacturers, Vachon said, retail industries depend on the connection between their employees and their customers. That makes shaming a potentially powerful weapon in the union’s arsenal, he said.

Starbucks’ same-store sales, or sales at locations open at least a year, rose 1% in the July-September period. It was the first time in nearly two years that the company had posted an increase. In his first year at the company, Niccol set new hospitality standards, redesigned stores to be cozier and more welcoming, and adjusted staffing levels to better handle peak hours.

Starbucks also is trying to prioritize in-store orders over mobile ones. Last week, the company’s holiday drink rollout in the U.S. was so successful that it almost immediately sold out of its glass Bearista cup. Starbucks said demand for the cup exceeded its expectations, but it wouldn’t say if the Bearista will return before the holidays are ove

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Politics

From carpools to motorcycles, House lawmakers overcome air travel chaos to end shutdown

The longest government shutdown in history finally ended on Wednesday night after nearly every member of the House of Representatives raced to Washington to cast their vote.

The threat of air travel delays — fueled in no small part by the fiscal standoff — as well as bad weather in parts of the country forced some lawmakers to find more unconventional routes to ensure they arrived on time.

First-term Rep. Addison McDowell, R-N.C., for example, found himself carpooling more than five hours alongside House Rules Committee Chairwoman Virginia Foxx, R-N.C. — a powerful GOP lawmaker more than 50 years his senior.

‘It dawned on me that, for a while there, I was one of the most powerful people in America, because I had the Rules chair, who — we couldn’t start the process of passing this bill until she got here,’ McDowell told Fox News Digital. ‘We had a one-seat majority, and there was two of us. So, you know, there was a lot of pressure to make sure she got here on time.’

Foxx’s committee was responsible for preparing federal funding legislation for a House-wide vote, which it did from just before 7 p.m. Tuesday until around 2 a.m. Wednesday.

‘She just kind of asked, ‘Hey, would you be willing to carpool?’ And I was like, ‘Yeah, not a problem at all.’ I’ve got a truck, so I’ve got plenty of room. We could have taken the whole delegation up, just put all the guys in the back,’ McDowell joked.

He also knew that driving Foxx up earlier than most lawmakers had to be there came with sacrifices.

‘Neither of us got to participate in any Veterans Day events in our district, which was a real bummer. But we had an important job to do, and that was make sure our government services and our current troops are getting paid,’ he said.

McDowell said he spent the roughly five-and-a-half-hour drive asking Foxx questions about her work and her own life, which she happily answered.

And the senior House Republican told Fox News Digital that she appreciated the experience herself.

‘I have never had a chance to really sit down with him for a long period of time, so I really welcome the opportunity to get to know him better,’ Foxx said. ‘He told me a lot about experiences he’s had. We talked about things from my side, mostly policy issues, but I did tell him a little bit more about my background.’

Foxx said it was a combination of bad weather in the North Carolina mountains and concerns about flight delays that moved her to contact colleagues about driving up — until she found her schedule most aligned with McDowell’s, and she drove herself to meet him before the long ride.

‘I have to say he’s an excellent driver,’ Foxx said. ‘We stopped in Henderson, North Carolina, and got Chick-fil-A sandwiches — of course, what else would we get? We left there at 11 [a.m.] and we got here at about 4:40 [p.m.].’

Asked if she would do it all again, Foxx said, ‘In a heartbeat.’

Rep. Randy Feenstra, R-Iowa, also opted to drive instead of fly — a trip that spanned more than 1,000 miles across 15 hours overnight.

Feenstra said he and two staffers ‘took turns driving’ through the night, stopping only for gas and arriving in Washington some time on Wednesday morning before the vote.

‘I had a lot of Veterans Day events. I wanted to make sure that I was in my district for that. And then, once that was completed at 5 last night, we headed this way,’ he said. ‘When that’s your only option, you do it. This job — you’ve got to do whatever you have to.’

And Midwestern Rep. Derrick Van Orden, R-Wis., also took to the roads, but in a different vehicle.

‘Democrats shut the government down over 40 days ago now. And I could not count on air travel,’ he told Fox News Digital. ‘So I talked to my wife for about five seconds and said, ‘I’m getting on the motorcycle and leaving.’ So I did, and I got here on time.’

Van Orden, who first told The Hill of his plans, said he rode through sub-zero temperatures and had to navigate black ice on the roads. At one point, he stopped at a hotel ‘for four or five hours’ when the environment appeared ‘sketchy,’ he said.

‘Someone asked me, ‘Why don’t you just drive a car?’ Here’s why. We only have one car. And I wasn’t going to inconvenience my wife, because she is one of my constituents, and she happens to be my favorite constituent,’ he said.

‘People around here don’t seem to understand that the mission is more important than their personal security or comfort. And if more people in this building took their job more seriously and realized it’s about the American people than not, then we will be a better country.’

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Politics

DAVID MARCUS: Why Republicans desperately need a Trump-centered midterm convention

The postmortems for Republicans’ lackluster results in this month’s spate of elections in New Jersey, Virginia and beyond are in, and while pet theories abound, there is one thing almost everyone agrees on: In the age of President Donald Trump, the GOP does not fare well when he is not on the ballot.

The question for Republicans in tough congressional campaigns across the country is how they can symbolically get Trump on the ballot, and more importantly, get his often reluctant voters to the polls to fill out said ballots.

The best way to achieve this goal is an idea that Trump himself has floated, a midterm national Republican convention that showcases the party’s achievements under Trump’s second term and that makes it crystal clear that Americans won’t just be voting for Congress, but for Trump’s agenda.

The success of the 2024 Republican National Convention in Milwaukee was a bit overshadowed by assassination attempts and top of the ticket shakeups, but it is widely and rightly regarded as one of the best ever staged, and it made a difference.

The RNC was not only excellent prime-time television that showcased the priorities of the Trump GOP, it was an even better live event on the ground, cornhole courts and bars and restaurants created a festive, even joyous atmosphere.

This live event feeling could be amplified by satellite parties, even if the main convention is in Philadelphia for the 250th anniversary of America, or Chicago, to celebrate the birth of the Republican Party. Every city and town could have its own smaller version.

The power of such live events is something that both President Trump and the late founder of Turning Point USA, Charlie Kirk, understood intuitively. If the midterm convention could be part Trump rally, part TPUSA party, well, that’s a powerful combination.

The most important reason why a midterm convention is vital is to put Trump front and center in the election. By then his signature One Big, Beautiful Bill Act will have cut taxes on tips and overtime, some of the trillions of new investment will be taking root, and Trump will be able to point to these achievements.

One thing that was notably missing in this most recent off-year election season was any emphasis on the Make America Healthy Again wing of the Trump movement led by Health and Human Services head Robert F. Kennedy Jr.

That was a mistake, Kennedy’s focus on making sure we aren’t poisoning our kids played a massive role in Trump’s 2024 win. A midterm convention could put the issue back on the table, and MAHA moms everywhere back in play.

This convention would also highlight Trump’s all but miraculous closing of the southern border, and celebrate, rather than denigrate, federal officials working to rid the nation of criminal illegal aliens.

Trump’s message would be simple: ‘I’ve got two more years to do what you put me in office to do, but to do it, I need Congress.’

If Republicans get really lucky, then holding a midterm convention might lead Democrats to hold one of their own, an exercise that could not help but betray the deep divisions in their ranks.

Who would speak at the DNC? Who would be welcome? Socialist mayor of New York City Zohran Mamdani or Sen. John Fetterman, D-Pa., or maybe both at once yelling at each other about who’s a Zionist and who’s an antisemite. You see my point?

Trump is perhaps first and foremost a showman. That can be colored as a criticism or assessed as an asset, but it cannot be denied. The best chance that Republicans have in 2026 is to let him put on his show.

Although I am told that conversations have occurred behind the scenes in preparation for a potential midterm convention, it would still be a heavy lift. Usually there are four years to plan these things, not six months. But the Trump movement has the infrastructure and wherewithal to pull it off.

The ‘Trump Rally’ will go down in history, alongside the Lincoln-Douglas debates and President Franklin Delano Roosevelt’s fireside chats, as one of the most successful forms of political communication our nation has ever seen. My sense is that voters are up for one more encore performance.

Letting Trump be Trump might not just be the best strategy for Republicans in 2026, it might be the only one. And hey, if you’re going to lose anyway, why not go out with a party?

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Politics

Jack Smith meeting with then-FBI Director Wray recorded as ‘significant case notification’ in J6 probe

Former Special Counsel Jack Smith met with then-FBI Director Christopher Wray months after he began investigating the Jan. 6, 2021, Capitol riots and the 2020 election, Fox News Digital has learned.

Fox News Digital exclusively reviewed the document that FBI Director Kash Patel recently shared with Senate Judiciary Committee Chairman Chuck Grassley and Sen. Ron Johnson containing the new development.

Grassley, R-Iowa, and Johnson, R-Wis., are currently reviewing the documents as part of their joint investigation into Smith’s ‘Arctic Frost’ probe.

The information was included as part of a ‘significant case notification’ drafted by the FBI’s Criminal Investigative Division May 25, 2023.

‘On 5/24/2023, Special Counsel Jack Smith met with FBI Director Wray,’ the document reads.

The meeting took place just a day before the FBI’s Criminal Investigative Division created the ‘Significant Case Notification’ document.

An FBI ‘significant case notification’ is an internal record used by the bureau to alert senior leadership and FBI field offices about a case of high public interest. This notification provided a case update on ‘Arctic Frost,’ which the bureau considered a ‘sensitive investigative matter.’

‘Jack Smith claims he wants to tell his story to Congress, but when I asked him point-blank if he ever met with Garland, Monaco, or Wray as part of his investigation, he refused to answer,’ Grassley told Fox News Digital.

The revelations are significant, as Grassley, in October, sent a letter that specifically asked Smith whether he had met with Wray, then-Attorney General Merrick Garland, then-Deputy Attorney General Lisa Monaco or then-FBI Deputy Director Paul Abbate.

Smith replied to Grassley, but declined to share information about any of his meetings with those officials.

‘Either Smith has a bad memory, or he’s simply not willing to come clean about his actions,’ Grassley told Fox News Digital, adding that if Smith ‘really wanted the American people to hear the truth, he’d be cooperating with my straightforward congressional oversight requests instead of making excuses.’

‘I’m going to continue investigating to ensure the public gets full transparency,’ Grassley said.

Smith, in October requested to testify in open, public hearings before the House and Senate Judiciary Committees.

‘Given the many mischaracterizations of Mr. Smith’s investigation into President Trump’s alleged mishandling of classified documents and role in attempting to overturn the results of the 2020 election, Mr. Smith respectfully requests the opportunity to testify in open hearings before the House and Senate Judiciary Committees,’ Smith attorneys Lanny Breuer and Peter Koski wrote.

Smith did not immediately respond to Fox News Digital’s request for comment.

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Politics

Democrat civil war erupts after moderate accuses progressive of undermining ‘free and fair elections’

Congressional Democrats are warring after one of their own moderates moved to force a vote on formally rebuking a progressive lawmaker, accusing him of undermining the U.S. Constitution with his 2026 announcement.

Rep. Marie Gluesenkamp Perez, D-Wash., stunned fellow lawmakers on Wednesday evening when she filed what’s known as a privileged resolution aimed at scolding Rep. Jesús ‘Chuy’ García, D-Ill., for a move that effectively appeared to clear a path for his chief of staff to run for his seat.

It brought an onslaught of attacks from García’s fellow progressives, like Rep. Delia Ramirez, D-Ill., who accused Gluesenkamp Perez of using it as a distraction from her vote to reopen the government.

‘Going after a strong progressive Latino leader the same day that you vote for a slush fund for Republicans involved in January 6 does not scream democratic values,’ Ramirez wrote on X. ‘It is disappointing that someone willing to compromise working families’ healthcare would use this moment for a cheap political stunt aimed at distracting people from an indefensible vote on tonight’s [continuing resolution].’

García had filed for re-election in late October before abruptly reversing course just before the filing deadline, citing his doctor’s recommendations and a desire to spend time with family.

His chief of staff, Patty García, ‘quickly mobilized a campaign and became the only Democratic candidate prepared to file,’ according to Fox 32 Chicago.

‘Congressman Chuy García’s stated reasons for retirement are honorable, but his decision to anoint an heir is fundamentally undemocratic. This is the kind of thing that makes folks tune out of electoral politics,’ Gluesenkamp Perez said in a statement. ‘Americans bled and died to secure the right to elect their leaders. We can’t expect to be taken seriously in the fight for free and fair elections if we turn a blind eye to election denial on our side of the aisle.’

When reading her resolution of disapproval against García on the House floor, she accused him of ‘undermining the process of a free and fair election’ and said his ‘actions are beneath the dignity of his office and incompatible with the spirit of the Constitution.’

García’s spokesperson responded by saying the congressman followed all proper election guidelines when making ‘a deeply personal decision based on his health, his wife’s worsening condition and his responsibility to the grandchildren he is raising after the death of his daughter.’

‘At a moment like this, he hopes his colleagues, especially those who speak about family values, can show the same compassion and respect that any family would want during a health crisis,’ the spokesperson said.

Rep. Jonathan Jackson, D-Ill., said he was prevented from speaking out to defend García on the House floor.

‘Some people need to learn how to stay in their lane,’ he wrote on X, accusing Gluesenkamp Perez of a ‘lack of decorum.’

Gluesenkamp Perez found an ally in Sen. Andy Kim, D-N.J., however, who said on X, ‘Rep Chuy Garcia’s decision to end his re-election at the last second and plant his chief of staff as the only candidate to succeed him was undemocratic and should not be allowed.’

‘Standing against corruption means standing up no matter which political party violates. The House should condemn and steps need to be taken to restore the people’s right to choose,’ Kim wrote.

Michael T. Morley, Florida State University’s election law center director, said that while he sees Gluesenkamp’s point, he doesn’t believe her complaint raises a legal controversy.

‘It’s one thing to talk about general principles of democracy, right? And it’s something else to talk about constitutional restrictions,’ Morley told Fox News Digital. ‘So, on the one hand, yes, if people are intentionally gaming the system, if they’re working together to try to deprive voters of a meaningful opportunity to make a choice among candidates and manufacture situations where only one person is on the ballot — then yes, obviously, I think that that is directly in tension with democratic principles.’

‘But not all democratic principles are embodied in the Constitution. And this is not the sort of situation where current precedent really creates a good mechanism for anybody to bring a challenge.’

He noted that beyond political expectations, nothing García did would have prevented a challenger from launching their own bid.

Fox News Digital reached out to Gluesenkamp Perez’s office for an interview.

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