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Voters in oil-rich Gabon headed to polling stations on Saturday in a presidential election that the country’s military rulers hoped would legitimize their grip on power.

It’s the first election since a 2023 military coup ended a political dynasty that lasted over 50 years. Analysts have predicted an overwhelming victory for the interim president who led the coup.

Some 920,000 voters, including over 28,000 overseas, are registered to participate across more than 3,000 polling stations. A third of the country’s 2.3 million people live in poverty despite its vast oil wealth.

The interim president, Gen. Brice Clotaire Oligui Nguema, 50, toppled President Ali Bongo Ondimba nearly two years ago. He hopes to consolidate his grip on power for a seven-year term in office.

Bongo was placed under house arrest after the coup but freed a week later due to health concerns. His wife and son were detained and charged with corruption and embezzlement of public funds. Bongo himself was not charged.

Following the coup, Oligui Nguema promised to “return power to civilians” through “credible elections”. He has touted himself as a leader who wants to unify the Gabonese and give them hope, running his presidential campaign under the slogan: “We Build Together.”

In January, the parliament adopted a new contentious electoral code allowing military personnel to run in elections.

The country’s new constitution, adopted in a referendum in November, has also set the presidential term at seven years, renewable once, instead of the unlimited fiver-year term. It also states family members can’t succeed a president and has abolished the position of prime minister.

A challenger with an anti-colonial approach

A total of eight candidates are running for president.

However, Oligui Nguema’s main challenger is Bongo’s former prime minister Alain Claude Bilie-By-Nze, who has promised to reorganize public finances, create jobs for young people and “end the umbilical cord” with former colonial ruler France.

In a recent interview with The Associated Press, Bilie-By-Nze said he didn’t expect the election to be fair or transparent.

“Everything has been done to lock down the vote,” he said.

In a region where France is losing longstanding allies in many of its former colonies, Gabon stands out as one of only a few where that partnership has not been threatened. It still has more than 300 French troops present, one of only two African countries still hosting them.

Oligui Nguema has not signaled an end to the French military presence, but Bilie-By-Nze has said “no subject is off limits” in renegotiating the ties between the two countries.

Voters cast their ballots

Dozens of voters, from various age groups, lined up at ballot stations early Saturday in the capital city, Libreville, as voting progressed peacefully.

Jonas Obiang told the AP while waiting to cast his ballot in the working-class district of Damas that he would vote for Bilie-By-Nze because he viewed the 2023 coup as a continuation of the malpractice of the previous regime.

“General Oligui Nguema led the country with the same people who plundered the country, the former members of the Bongo regime. I will not vote for him,” he said.

His views were echoed by Antoine Nkili, a 27-year-old unemployed man with a Master’s degree in law.

“The choice is personal, but I’m telling you that for me, the military has failed,” Nkili said. “They promised to reform the institutions, but they haven’t. Instead, they’ve enriched themselves.”

But Jean Bie, 57, who works in the construction sector, said the military rule has benefited the population.

“In 19 months, General Oligui Nguéma has completed several projects expected of the former regime. I’m voting for him, hoping he’ll do more over the next seven years,” he said.

This post appeared first on cnn.com

Will Rhind, CEO of GraniteShares, discusses gold’s ongoing price momentum and latest all-time high, saying he sees fear as a key driver right now.

However, increasing M2 money supply is also an important underlying factor for the yellow metal.

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

This post appeared first on investingnews.com

In a rapidly escalating economic conflict that now threatens to fracture global trade, the US and China are locking horns once again in a full-blown, protracted tariff war.

On Wednesday (April 9), US President Donald Trump announced sweeping new tariffs targeting Chinese goods, raising levies to a staggering 125 percent. Hours later, Beijing responded in kind, unveiling retaliatory tariffs of 84 percent on all American imports, as well as tightening restrictions on US companies operating in China.

The Asian country doubled down on Thursday (April 10), hiking tariffs to 125 percent.

Wednesday’s action from the US came as the Trump provided a 90 day pause on reciprocal tariffs for countries that had refrained from retaliating to its targeted tariffs last week. China was excluded from the reprieve because it did retaliate.

“I did a 90-day pause for the people that didn’t retaliate, because I told them, ‘If you retaliate, we’re going to double it,’” Trump told reporters on Wednesday, asserting that China has failed to approach negotiations in good faith.

“China wants to make a deal, they just don’t know how quite to go about it. They’re proud people. President Xi (Jinping) is a proud man. I know him very well. They don’t know quite how to go about it but they’ll figure it out,” he added.

But in Beijing, the narrative is starkly different. Chinese leader Xi has refused to yield to what the Chinese government calls America’s “unilateral bullying,” instead rallying domestic support through a campaign of economic nationalism.

China’s State Council Tariff Commission has sharply rebuked the US, stating that the American escalation severely infringes upon China’s legitimate rights and interests and seriously damages the global trading system.

It has added six US firms to its ‘unreliable entity list,’ barred 12 American companies from receiving dual-use technology with military and civilian applications, and filed a formal complaint with the World Trade Organization (WTO).

“The Chinese government have been preparing for this day for six years — they knew this was a possibility,” CNN quotes Victor Shih, director of the 21st Century China Center at the University of California, San Diego, as saying.

The spiraling tariffs are already having tangible effects. Shipping and logistics costs have surged, global stock markets have dipped sharply and economists are warning of looming inflation as supply chains face disruption.

According to JPMorgan (NYSE:JPM), American consumers may face the equivalent of a US$660 billion tax burden — the highest tax hike in recent decades — before supply chains adapt.

The latest tit-for-tat measures also come at a time of economic vulnerability for both countries. China is attempting to stabilize its economy after a severe downturn in real estate and local government debt.

The US, meanwhile, is grappling with volatile debt markets and rising consumer prices. Just this week, US Treasury yields spiked to 4.5 percent, their highest level since early 2023, prompting a brief but dramatic selloff in global equities.

Markets rebounded slightly after Trump announced the tariff pause for non-retaliating countries, with the S&P 500 (INDEXSP:.INX) closing up 9.5 percent and the Dow Jones Industrial Average (INDEXDJX:.DJI) surging nearly 8 percent.

Still, uncertainty remains around the world as Trump’s 90 day reprieve begins.

Europe, which had also faced stiff levies on steel and aluminum, announced its own retaliatory measures on Wednesday.

While it was later included in Trump’s pause list due to the delay in its response, the European Commission made clear that its tariffs “can be suspended at any time, should the US agree to a fair and balanced negotiated outcome.”

How did we get here? A timeline of the trade war escalation

What began with campaign promises to revamp America’s trade relationships rapidly evolved into a tit-for-tat trade war with key US allies and competitors alike. Here’s a look at what happened.

      • February 10 to 13: The US broadens its tariff scope. Steel and aluminum duties are increased, and Trump unveils a “reciprocal tariff” policy, signaling that countries with higher import taxes on American goods will face equivalent treatment.
      • February 25 to March 1: Trump continues the escalation, ordering probes into tariffs on critical materials like copper and lumber under national security justifications.
              • April 9 to 10: Hours after the higher reciprocal tariffs are triggered, the Trump administration announces a 90 day suspension for most of them — except for China. Trump ratchets China’s tariff burden up to 125 percent (or 145 percent with fentanyl-linked levies). China retaliates with an 84 percent tariff on US goods. Canada and the EU follow suit with their own targeted tariffs, though the EU pauses immediate retaliation, signaling openness to negotiation.

              Bracing for impact

              Despite the mutual saber-rattling, both the US and China have left the door open to dialogue — albeit on vastly different terms. China’s Foreign Ministry urged the US to demonstrate “an attitude of equality, respect, and mutual benefit.” US Treasury Secretary Scott Bessent struck a defiant tone, dismissing China’s retaliatory measures as ineffective.

              “They have the most imbalanced economy in the history of the modern world,” he told Fox Business. “They’re the surplus country. Their exports to the US are five times our exports to China. So, they can raise their tariffs. But so what?”

              Yet economists and international trade experts warn the stakes are high — not just for the two economic giants, but for the world. According to WTO forecasts, the fallout could slash global trade volumes by hundreds of billions of dollars.

              “Our assessments, informed by the latest developments, highlight the substantial risks associated with further escalation,” said WTO Director-General Ngozi Okonjo-Iweala in an April 9 statement.

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

              This post appeared first on investingnews.com

              Silver-mining companies and juniors have seen support from a strong silver price in 2025. Since the start of the year, the price of silver has increased by over 11 percent as of April 11, and it reached a year-to-date high of US$34.38 per ounce on March 27.

              Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.

              Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.

              So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.

              How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.

              1. Discovery Silver (TSX:DSV)

              Year-to-date gain: 185.92 percent
              Market cap: C$848.98 million
              Share price: C$2.03

              Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.

              Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.

              A 2024 feasibility study for the project outlined proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.

              The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.

              Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).

              The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.

              Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.

              Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.

              According to Discovery in its full year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.

              2. Almaden Minerals (TSX:AMM)

              Year-to-date gain: 136.36 percent
              Market cap: C$16.47 million
              Share price: C$0.13

              Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.

              A July 2018 mineral resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.

              In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.

              Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.

              In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

              In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.

              In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.

              Shares in Almaden reached a year-to-date high of C$0.135 on February 24.

              3. Avino Silver & Gold Mines (TSX:ASM)

              Year-to-date gain: 98.43 percent
              Market cap: C$373.48 million
              Share price: C$2.52

              Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.

              The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.

              In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.

              In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.

              The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.

              Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.

              Avino’s share price marked a year-to-date high of C$2.80 on March 27.

              4. Highlander Silver (CSE:HSLV)

              Year-to-date gain: 90 percent
              Market cap: C$160.17 million
              Share price: C$1.90

              Highlander Silver is an exploration and development company advancing projects in South America.

              Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.

              The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.

              In July 2024, the company announced it was commencing field activities at the project but has not provided results from the program.

              In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.

              Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.

              Shares in Highlander reached a year-to-date high of C$1.96 on March 31.

              5. Santacruz Silver Mining (TSXV:SCZ)

              Year-to-date gain: 85.45 percent
              Market cap: C$192.16 million
              Share price: C$0.51

              Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico.

              Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.

              In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.

              In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.

              Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.

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

              This post appeared first on investingnews.com

              Here’s a quick recap of the crypto landscape for Friday (April 11) as of 9:00 p.m. UTC.

              Bitcoin and Ethereum price update

              At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day’s range has seen a low of US$81,675.28 and a high of U$83,968.58.

              Bitcoin performance, April 11, 2025.

              Chart via TradingView.

              Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.

              Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.

              Altcoin price update

              • Solana (SOL) is currently valued at US$120.57, up 8.4 percent over the past 24 hours. SOL experienced a low of US$118.23 and a high of US$121.52 on Friday.
              • XRP is trading at US$2.05, reflecting a 4.2 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.99 and a high of US$2.06.
              • Sui (SUI) is priced at US$2.22, showing an increaseof 6.5 percent over the past 24 hours. It achieved a daily low of US$2.17 and a high of US$2.24.
              • Cardano (ADA) is trading at US$0.6279, reflecting a 4.9 percent increase over the past 24 hours. Its lowest price on Friday was US$0.6175, with a high of US$0.6313.

              Crypto news to know

              Trump overturns IRS DeFi rule

              US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.

              The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.

              With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.

              In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.

              SEC issues guidance on crypto securities disclosures

              Intending to build on the US Securities and Exchange Commission’s (SEC) Crypto Task Force, the commission’s Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.

              The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.

              Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.

              The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.

              The SEC also asked whether the protocol is open-source or not.

              It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.

              Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”

              New York moves to let state agencies accept crypto payments

              New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.

              A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.

              The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.

              More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.

              Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.

              SEC and Ripple seek abeyance in legal proceedings

              The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.

              The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.

              “An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.

              In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.

              BlackRock reports digital asset inflows

              BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).

              Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.

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

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

              This post appeared first on investingnews.com

              Global markets took a beating this week as investors and world leaders reacted to sweeping tariffs announced by the Trump administration on April 2, with tensions between the US and China escalating.

              After last week’s losses, this week started with a brief but sizable 8.5 percent surge on Monday (April 7), followed by a sharp decline that extended into Tuesday’s (April 8) trading day.

              The move came after news outlets reported a potential 90 day pause on US President Donald Trump’s widespread tariffs. While the White House was quick to deny the rumour, Trump ultimately did opt to pause reciprocal tariffs for most nations amid a falling bond market and public opposition from within the Republican Party.

              The pause brought a substantial 9.5 percent gain by the closing bell, but Thursday (April 10) saw another 6.3 percent fall as uncertainty continued to plague the market.

              The president has now narrowed his focus to China, increasing the country’s tariff rate from 104 percent to 125 percent on Wednesday (April 9). On Thursday, the Trump administration confirmed that those levies would be added to the previous 20 percent tariff, bringing the total to 145 percent. China has responded in kind, levying 125 percent tariffs against all products coming from the US, up from its previous retaliatory figure of 84 percent.

              All Magnificent 7 stocks, which were already down for the year, have fallen considerably since April 2; however, the Information’s Martin Peers notes that Apple (NASDAQ:APPL), a product maker with manufacturing ties and a large customer base in China, has experienced steeper declines than chip makers and software providers Google (NASDAQ:GOOGL), Broadcom (NASDAQ:AVGO), Meta Platforms (NASDAQ:META) and Amazon (NASDAQ:AMZN).

              Peers also points out that Microsoft’s (NASDAQ:MSFT) diversified business model and less dramatic recent growth make it well positioned to handle market volatility.

              While the current tariff regime has exemptions for semiconductors, other data center materials are exposed, as highlighted by Gil Luria, managing director and head of technology research at DA Davidson.

              Luria told Fortune that at least one-quarter to one-third of data center costs are non-semiconductor components, casting a shadow of uncertainty over the trillion-dollar data centers planned over the next few years.

              Adding to the volatility, an article published last week by global market intelligence company IDC suggests tariffs could lead to a notable slowdown in global IT spending in 2025.

              With that, let’s dive into this week’s top stories.

              1. NVIDIA CEO meets with Trump

              The White House will reverse plans to put additional export restrictions on NVIDIA’s (NASDAQ:NVDA) cutting-edge H20 chips, according to NPR. Anonymous sources say CEO Jensen Huang spoke to the president at a dinner in Mar-a-Lago last week, committing to increase its investment in the US artificial intelligence (AI) data center buildout.

              After the dinner, the administration opted to pause a months-long plan to place additional export restrictions on NVIDIA’s H20 chips, the most advanced chips US-based enterprises can sell to China under the current laws.

              The plan had been in the works since lawmakers began lobbying the administration to limit China’s access to cutting-edge technology following the release of DeepSeek’s AI chatbot, R1.

              “If NPR’s reporting is accurate, this news is a significant positive for NVIDIA, as well as a more modest tailwind for other portions of the server supply chain,” Wedbush Securities analyst Matt Bryson said in a client note on Thursday.

              After the Trump administration’s tariff announcement last week, Reuters reported that Chinese companies, including Alibaba Group Holding (NYSE:BABA), ByteDance and Tencent Holdings (OTC Pink:TCE:HY,HKEX:0770), had placed roughly US$16 billion in orders for NVIDIA’s H20 chips.

              2. Apple customers fear price increases

              Customers filed into Apple stores across the US over the weekend, fretting that the iPhone maker may be forced to raise prices on its products in the face of rising manufacturing costs stemming from the ongoing US-China trade war.

              The tech giant is heavily reliant on Asian assembly lines, and experts widely agree that a return of tech manufacturing to the US is a complex and time-consuming process, making it an unlikely immediate solution for a company whose products are high in demand and require rapid production and distribution. The company is planning a series of new product releases for 2025, with the release of the iPhone 17 slated for September.

              In the short term, Apple appears to be turning to India as an alternative to mitigate the impact of the tariffs. The company reportedly loaded flights from India with iPhones before the tariffs went into effect, allegedly lobbying Chennai International Airport authorities to cut down customs from 30 hours to six hours to speed up the airlift.

              So far, Apple hasn’t made any official announcements on potential price adjustments.

              The company managed to secure an exemption when Trump imposed tariffs in his first presidential term, but it’s unclear if the president will be swayed to grant a waiver again.

              3. Pichai reaffirms Google’s AI strategy

              Amid stock market turbulence and a downturn in the tech sector, Google CEO Sundar Pichai reiterated the company’s commitment to substantial investment in developing its AI infrastructure and product line, reaffirming its plans to allocate a significant budget of US$75 billion towards capital expenditures.

              The update came as the company convened at its Cloud Next conference, held this week in Las Vegas, Nevada. During the event, Google unveiled a suite of new AI services.

              Among the many developments shared with attendees, Google Cloud and Samsung (KRX:005935) announced a strengthened partnership aimed at integrating Google Cloud’s advanced generative AI technology into Samsung’s Ballie, an innovative home AI companion robot slated to hit US and South Korean markets this summer.

              This collaboration signifies the growing convergence of AI capabilities and home robotics, paving the way for a new era of intelligent and interactive home companions.

              Samsung hasn’t announced pricing for Ballie, but tariffs could inflate costs. The 90 day pause and productive trade talks with South Korea, where Samsung has manufacturing locations, offer a glimmer of hope for consumers.

              4. New autonomous driving and EV entrants

              The landscape of electric vehicles (EVs) continues to evolve despite a shifting political backdrop.

              This week saw reports that Zoox, Amazon’s robotaxi subsidiary, has begun testing its autonomous taxi services in Los Angeles, signaling the company’s confidence in its self-driving technology.

              Meanwhile, TechCrunch reported that Slate Auto, a Michigan-based EV start-up with ties to Amazon, is going ahead with plans to begin production of an entry-level US$25,000 electric pickup truck as soon as next year.

              The company has reportedly raised at least US$111 million and hired hundreds of employees from Ford (NASDAQ:FORD), General Motors (NYSE:GM), Stellantis (NYSE:STLA) and Harley-Davidson (NYSE:HOG).

              According to the report, the company plans to supplement the truck’s small margins by selling aftermarket vehicle accessories and apparel. Slate hopes to begin production in Indiana by late 2026.

              Adding to an influx of new EV players, Taiwanese manufacturing company Foxconn Technology (TPE:2354) announced its intention to bring two new battery EVs to the US market, with one slated to hit the markets in late 2025.

              In the realm of driverless technology, Nissan Motor (TSE:7201) said Thursday that it will integrate self-driving technology developed by the UK’s Wayve in its ProPilot assisted driving feature starting next year.

              These developments follow a Washington Post report earlier this week that found Americans’ interest in EVs is waning in the face of the Trump administration’s effort to pull back spending on EV infrastructure, including canceling a Biden-era initiative to build EV charging stations across the country and potentially repealing EV tax credits.

              5. OpenAI considers hardware acquisition, counter-sues Musk

              A Monday report from the Information suggests that OpenAI is in talks to acquire io Products, a hardware startup co-founded by the company’s CEO, Sam Altman, and former Apple design chief, Jony Ive.

              According to the report, the startup has been collaborating with Ive’s design studio, LoveFrom, on the development of a new hardware device that would act as an interface between users and voice-enabled AI assistants.

              While the two companies are reportedly exploring partnerships that don’t involve an acquisition, the potential deal could value io Products at up to US$500 million, according to the report.

              In other developments, OpenAI countersued Tesla (NASDAQ:TSLA) CEO Elon Musk on Wednesday, citing ongoing harassment since the startup began transitioning toward a for-profit structure in 2023.

              “Through press attacks, malicious campaigns broadcast to Musk’s more than 200 million followers on the social media platform he controls, a pretextual demand for corporate records, harassing legal claims, and a sham bid for OpenAI’s assets, Musk has tried every tool available to harm OpenAI,” the company wrote in a court filing.

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

              This post appeared first on investingnews.com

              New York state’s top financial regulator struck a $40 million settlement Thursday with Block Inc., the parent of Cash App, the popular money transmission service, after having found the company had “serious compliance deficiencies” related to its anti-money laundering program and transaction monitoring processes.

              The deficiencies at Block, some involving cryptocurrencies, “created a high-risk environment vulnerable to exploitation by criminal actors,” the New York State Department of Financial Services said in the consent order, noting, for example, that Block’s system did not trigger blocks on bitcoin transactions involving terrorism-connected wallets until that exposure exceeded 10%.

              Any exposure to terrorism-connected wallets is illegal, the department said. 

              The New York regulator examined Block’s practices from early 2021 to September 2022, concluding it did not keep pace with the significant growth it was experiencing. That resulted in Block’s “inability to fully comply with its obligation to effectively monitor, and thereafter report, the transactions being conducted on its platforms for suspected money laundering and other illicit criminal activity.”

              Block, which did not admit to the department’s findings, said it was pleased to put the matter behind it.

              “As the department has acknowledged, Cash App has devoted significant financial and other resources to compliance remediation and enhancements,” it said in a statement. “We share the department’s dedication to addressing industry challenges and remain committed to investing across our operations to help promote a safe and healthy financial system.” 

              Block was launched by Twitter co-founder Jack Dorsey, who lists his current title as Block Head and chairman.

              The details in the settlement parallel exclusive reporting by NBC News last year detailing former Block employees’ allegations that the company’s compliance systems were deeply flawed.

              According to the former employees, one of whom was also interviewed by federal prosecutors, Block processed multiple cryptocurrency transactions for terrorist groups and did not correct company processes when it was alerted to breaches. Block began offering bitcoin transactions through Cash App in 2018.

              Square, another Block unit, processed thousands of transactions involving countries subject to economic sanctions, one of the former employees told NBC News. Documents the former employee provided showed transactions, many in small dollar amounts, involving entities in countries subject to U.S. sanctions restrictions — Cuba, Iran, Russia and Venezuela — as recently as 2023.  

              Under the terms of the settlement, Block agreed to bring on an independent monitor for a year, selected by the New York regulator, to conduct a comprehensive review of the effectiveness of its anti-money laundering and sanctions programs. The monitor will oversee remedial measures as needed, the consent order said, and report its findings to the regulators.

              The consent order with the department “does not bind any federal or other state agency or any law enforcement authority,” it noted.

              This post appeared first on NBC NEWS

              Ukraine’s key allies are meeting in Brussels on Friday with a noticeable absence at the table: US Defense Secretary Pete Hegseth, who is only attending virtually.

              The Ukraine Defense Contact Group, which was created by former US Defense Secretary Lloyd Austin during the Biden administration, is a group of roughly 50 nations that meet regularly to discuss bolstering military support for Ukraine.

              It will mark the first time a US defense secretary has not attended the meeting in person since the group was established in 2022 just months after Russia’s full-scale invasion of Ukraine, which comes amid a series of policy shifts by the Trump administration seen as moving closer to Moscow.

              Top Trump official Steve Witkoff arrived in St. Petersburg on Friday for negotiations with Russia, according to the Kremlin.

              Russian state media and Axios reported that Witkoff is expected to meet Russian President Vladimir Putin later on Friday, but the Kremlin spokesman declined to comment on reports of a possible meeting.

              Meanwhile in Brussels, the Ukraine Defense Contact Group will be chaired by British Defense Secretary John Healey for the second time, alongside German Defense Minister Boris Pistorius.

              Pistorius said ahead of Friday’s meeting that it was the Trump administration’s decision to attend virtually and was “not his business” to comment on the signal that sends.

              Speaking in Berlin earlier this week, Pistorius said: “There is a new unpredictability in our transatlantic relations.”

              “The United States keep up their commitment to NATO but they quite rightly demand a stronger European contribution in the alliance,” Pistorius, who is widely expected to remain in his post in the new German coalition government, said Wednesday. “We will do this together with our European partners and NATO allies, and we will have to provide significantly more leadership as we go along.”

              Ahead of the meeting in Brussels, the British defense minister offered strong words of support for Ukraine and called for putting “even more pressure on Putin.”

              “Our commitment is to put Ukraine in the strongest position to protect Ukraine’s sovereignty and deter future Russian aggression,” Healey said in a statement.

              Germany will provide a further €11 billion ($12.5 billion) in military support to Ukraine through 2029, including IRIS-T mobile air defense missile systems and PATRIOT missiles, Ukraine’s defense minister said Friday from Brussels. The United Kingdom and Norway will also jointly give an additional $589 million in military aid, to provide maintenance to vehicles and hundreds of thousands of drones.

              Air defense is Kyiv’s priority, Ukrainian President Volodymyr Zelensky said ahead of the meeting.

              “We just need to address the shortage of air defense systems to make our sky protection stronger,” Zelensky said. “Our partners can help with this and also speed up the implementation of all agreements reached earlier. Patriots that remain unused in storage with our partners should be protecting lives.”

              Ukraine’s military chief Oleksandr Syrskyi told Ukrainian media on Thursday that Russia has “already begun” its new offensive against the Sumy and Kharkiv regions.

              Meanwhile, a new United Nations report revealed this week that Ukraine experienced a significant increase in civilian casualties from Russian attacks in March.

              The number of civilian casualties was 50% higher than the previous month, with at least 164 people killed and 910 injured in March, the UN Human Rights Monitoring Mission in Ukraine said.

              This post appeared first on cnn.com

              Ecuadorians will head to the polls on Sunday in a runoff presidential election, choosing between a conservative incumbent or a leftist lawyer as the country struggles with a cocaine-fueled security crisis.

              President Daniel Noboa is vying for a full four years in office after winning a special election in 2023 to complete his predecessor’s term. He will be running against Luisa González, the protégé of Ecuador’s left-wing former President Rafael Correa.

              The first round of voting in February ended with a near tie between both candidates. Whoever wins Sunday’s vote will have to steward a country suffering under surging violence and organized crime.

              Here’s what you should know:

              An unending crimewave

              Once an island of peace in an otherwise turbulent region, the surging drug trade in recent years has caused Ecuador to have the highest homicide rate in Latin America in 2023, according to InSight Crime.

              The rate dropped slightly in 2024, but the violence continues as criminal groups have adapted and fragmented in the wake of a government crackdown.

              Noboa has sought to quell the problem with force, adopting a “mano dura,” or firm-handed, approach to fighting crime.

              Soon after Noboa took office in 2023, the country suffered back-to-back emergencies: a notorious gang leader escaped from prison; days later, a band of gunmen stormed a major TV station and took the staff hostage.

              To stamp out the crime wave, Noboa has openly solicited the help of foreign governments and companies, especially from the United States. In March, Noboa raised eyebrows when he announced a “strategic alliance” to fight organized crime with Erik Prince, the founder of the controversial private defense contractor formerly known as Blackwater.

              The presence of the US in Ecuador is a point of contention between Noboa and González, who opposes foreign intervention in the country’s security issues.

              Along with the crime wave, Ecuadoreans are struggling with a battered economy. Isabel Chiriboga, a Latin America expert at the non-partisan think tank Atlantic Council, wrote in February that the next president will have to steward an economy “teetering on the brink of collapse.”

              A hardline approach to crime

              Noboa, the American-born, Harvard-educated son of one of Ecuador’s richest businessmen, became president after a surprise victory in 2023, where he beat González in the second round.

              Throughout his first term, critics say Noboa has violated political norms, shocking Latin America when he ordered security forces to storm the Mexican embassy to arrest Jorge Glas, a former vice president under Correa accused of corruption. The breach of diplomatic protocol led Mexico to break off relations with Ecuador.

              “Noboa thinks that he can govern like he managed his companies,” said Jean Paul Pinto, an Ecuadorean political analyst based in Quito. “He thinks that in the same way that he gives orders inside his companies, he can do the same with the state. And that’s not true.”

              Noboa has strained against the legal limits of his office, initiating and winning a referendum to expand his security powers in April 2024. A key part of his security strategy was deploying the military to Ecuador’s prisons, which criminal groups in the country have controlled for years with virtual impunity.

              Critics say the president’s approach is brutal, with little to show for it. “We have seen no sign that (Noboa) has a long-term plan,” said James Bargent, a journalist at InSight Crime who has studied Ecuador’s prison crisis.

              “What we’ve seen over the last year is just using force on its own is not effective. It’s not broken this cycle of violence,” Bargent concluded.

              As to the economy, Noboa has leaned heavily into economic proposals like cash payments and debt forgiveness for farmers affected by natural disasters.

              “Now you’re seeing (Noboa) really engaged in some tactics usually more associated with the populist left,” said Will Freeman, a Latin America fellow at the Council on Foreign Relations. “It’s classic economic populism.”

              A former president’s protégé

              González has grounded her campaign to “Revitalize Ecuador,” centering a return to the high social spending of Correa’s presidency.

              Under González, “we’ll have more social policies for the poorest people in Ecuador,” predicted Pinto. “In the time of Correa, we had a strong state, with a lot of ministers.”

              A charismatic socialist now in exile in Belgium, Correa remains a popular figure in Ecuador’s politics despite allegations of corruption during his presidency. In 2020, an Ecuadorean court sentenced the former president to eight years in prison for bribery in absentia, a charge he has repeatedly denied.

              “I’m the president of my party,” González said, “I’m the one leading my campaign – it’s my government plan, and my plans for the public. So who will rule? It’ll be Luisa (González).”

              The country has seen several nationwide power cuts linked to the El Niño phenomenon drying up rivers that fuel its hydroelectric power plants. In response, González has called for greater government intervention in Ecuador’s power grid.

              As for the country’s biggest political issue, a González government may take a more diplomatic approach to dealing with the gangs, Pinto said. “Luisa is going to make a preventative effort,” Pinto said. “I think that she’s going to negotiate with criminal groups to obtain a more peaceful country.”

              González has publicly denied that she would negotiate with criminals. Her party’s plan states her government would strive to create a “new model” of security based on “prevention, violence reduction and coexistence.”

              The leftist politician is completely against bringing in muscle from abroad to tackle Ecuador’s crime crisis, and has proposed reestablishing the Ecuadorean Ministry of Justice, which was dismantled in 2018. She’s also set on eliminating the agency that manages the country’s dysfunctional prisons.

              Freeman, however, thinks that González may be just as hardline as Noboa, pointing to her mentor’s tenure in office.

              “Correa was almost a proto-Bukele,” Freeman pointed out, referring to the authoritarian president of El Salvador, Nayib Bukele. “He (Correa) doubled the prison population. He built massive, massive prisons around the country and filled them with petty criminals. I think that it could be pretty mano dura under González as well, even if she’s not saying that.”

              A possible fight ahead

              After the election moved to a runoff in February, both candidates claimed, without evidence, that the vote was possibly fraudulent. Freeman and Pinto both worry that without a significant-enough margin of victory, there’s a possibility that neither candidate will concede.

              “If Luisa loses on Sunday, there are going to be a lot of strikes,” Pinto said. “Especially in the coastal cities” where González’s supporters are concentrated.

              “Noboa has said, ‘I will only concede if there are no signs of fraud,’” said Freeman. “He did even say during the first round that he thought there was fraud. It sort of feels like he’s rhetorically preparing the ground not to concede in the case of a very close outcome.”

              This post appeared first on cnn.com

              Brazil’s former President Jair Bolsonaro has been hospitalized after experiencing “severe abdominal pain,” his son Carlos said on X on Friday.

              Carlos Bolsonaro said his father was assessed for adhesions in the area of his abdomen where he was stabbed in 2018 and was sedated for tests at a hospital in Santa Cruz.

              He is now “awake and lucid,” Carlos said, and being flown by helicopter to a hospital with more resources in Natal, the capital of Brazil’s northeastern state of Rio Grande do Norte.

              “Once again, I ask everyone to pray and hope that everything goes well. Soon, doctors will provide more details about what is happening,” Carlos said.

              This is a developing story and will be updated.

              This post appeared first on cnn.com