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Hazer and KBR Enter Global Deal to Accelerate Licensing and Commerciali

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Hazer Group Ltd (‘Hazer’ or ‘the Company’) (ASX: HZR) is pleased to announce it has entered into a binding Alliance Agreement (the “Alliance”) with Kellogg Brown and Root LLC (NYSE: KBR, “KBR”) a global leader in technology and engineering solutions, for the commercial deployment and licensing of Hazer’s proprietary methane pyrolysis technology.

Highlights

  • Binding strategic alliance with KBR (NYSE: KBR), a world-leading engineering group and global technology licensor set to supercharge Hazer’s commercialisation strategy
  • Hazer is KBR’s exclusive partner for marketing and licensing of methane pyrolysis technology
  • Clear revenue visibility targeting multiple license deals within 6 years, materially derisking Hazer’s business plan
  • Capital-lite licensing model maintained; KBR A$3million work program contribution preserves Hazer’s robust funding position
  • Strengthens Hazer’s market penetration into high-growth market segments of ammonia and methanol, and regions including North America and Middle East
  • CEO Glenn Corrie and other members of the management team will be hosting a webinar on Wednesday, 07 May 2025 at 09:00am (AWST) / 11:00am (AEST). Details provided below

KBR – A Global Leader in Technology Licensing

KBR is a world-renowned engineering and technology company delivering engineering and cutting-edge technology licensing solutions to companies and governments across energy, chemicals, infrastructure and defence. KBR has licensed over 260 grassroots ammonia plants since 1943. Over 50% of the world’s ammonia is produced using KBR’s ammonia process.

KBR also brings a strong track record in commercialising breakthrough industrial technologies. Notable partnerships include ExxonMobil for next-generation catalyst development, and Mura Technology (including a US$100 million strategic investment) to scale its proprietary plastic recycling solution world-wide.

Under the Alliance, KBR will be Hazer’s exclusive global partner for the marketing, licensing and deployment of Hazer technology to customers in the ammonia and methanol markets. KBR and Hazer will also work closely to pursue licensing opportunities in decarbonizing hydrogen markets beyond these exclusive markets.

KBR’s President Sustainable Technology Solutions, Jay Ibrahim, said:“KBR’s proven global expertise in deploying sustainable technology solutions complements Hazer’s leading methane pyrolysis technology, making us ideal partners. Our market assessment and due diligence have highlighted Hazer’s potential to decarbonize the global ammonia and methanol sectors. We are excited to partner with Hazer to provide a compelling low- carbon hydrogen production solution to meet growing global demand.’

Hazer’s CEO and Managing Director, Glenn Corrie, said:“We are excited to be joining forces with KBR to commercialise Hazer’s world-leading clean hydrogen technology on the global stage. This is a transformational transaction for Hazer coming at a critical time when the world urgently needs affordable, low-emissions hydrogen to decarbonise legacy hard-to-abate industries. Building on the momentum of our successful Commercial Demonstration Plant and technology test program, which laid the foundations of commercialisation last year, this partnership represents a strong endorsement and the next logical step in delivering on our strategic roadmap and unlocking long-term value for shareholders.

KBR has the scale, capability and reputation to help accelerate the deployment of Hazer’s technology at industrial scale. We see immediate potential in the ammonia and methanol sectors – industries with significant CO2 footprints and strong demand for clean alternatives. KBR’s market leadership, global reach and execution strength make them an ideal partner to bring our vision to life.”

Strategic Alliance to Commercialise Hazer’s Leading Methane Pyrolysis Technology

Under the Alliance, Hazer and KBR will collaborate on the up-scaling, marketing and licensing of the Hazer technology for commercial deployment.

Under the terms of the agreement, KBR will be Hazer’s exclusive licensing partner for the ammonia and methanol markets while working closely in other hydrogen sectors. The initial term of the Alliance is six (6) years with an option to extend subject to the achievement of performance metrics. The parties have agreed to collaborate on the development of a design package for Hazer facilities targeting hydrogen capacities of 50,000+ tonne per annum as well as the global sales, marketing and licensing of Hazer’s technology. Hazer will be KBR’s exclusive methane pyrolysis technology provider.

The total cost of the Alliance work program is anticipated to be in the range A$3.0-5.0 million of which KBR will contribute approximately A$3.0 million over the work program period. The Alliance is underpinned by performance objectives with a target of securing multiple firm licensing opportunities during the initial term.

In respect of royalty and licensing fee sharing, the Company will keep the market informed as license arrangements are signed. Hazer’s pre-existing portfolio and opportunity pipeline is not subject to the terms of the Alliance. An incentive structure applies in the event KBR secures a license for the first commercial unit secured within three years. There is no financial impact at this stage as no client agreements are in place.

In other terms, the agreement can terminate if licensing performance metrics are not met. Hazer retains full ownership of its existing intellectual property. The agreement otherwise contains terms customary for an arrangement of this kind.

Click here for the full ASX Release

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In Business

Netflix stock is trading at all-time high levels in unprecedented win streak

3 Mins Read

Netflix is on a winning streak.

The streaming giant’s stock has traded for 11 straight days without a decline, the company’s longest positive run ever.

Its previous record was a nine-day stretch in late 2018 and early 2019 when the stock traded up for four days, was unchanged for a day and then traded positively for another four days.

The stock is also trading at all-time high levels since it went public in May 2002.

This new streak comes on the heels of Netflix’s most recent earnings report on April 17, in which it revealed that revenue grew 13% during the first quarter of 2025 on higher-than-forecast subscription and advertising dollars.

Netflix has been one of the top performing stocks during the first 100 days of President Donald Trump’s second term, with shares up more than 30% since mid-January. The company has been largely unaffected by Trump’s tariffs and trade war with China and is a service that consumers are unlikely to cut during a recession.

Meanwhile, traditional media stocks have been slammed by a tumultuous market prompted by Trump’s trade policy. Warner Bros. Discovery has lost nearly 10% since Trump took office, while Disney is down 13% in that same period.

Netflix continues to forecast full-year revenue of between $43.5 billion and $44.5 billion.

“There’s been no material change to our overall business outlook,” the company said in a statement last month.

As investors worry about the potential impact of tariffs on consumer spending and confidence, Netflix’s co-CEO Greg Peters said on the company’s earnings call, “Based on what we are seeing by actually operating the business right now, there’s nothing really significant to note.”

“We also take some comfort that entertainment historically has been pretty resilient in tougher economic times,” Peters said. “Netflix, specifically, also, has been generally quite resilient. We haven’t seen any major impacts during those tougher times, albeit over a much shorter history.”

JPMorgan said Thursday that it sees more upside for shares.

“NFLX has established itself as the clear leader in global streaming & is on the pathway to becoming global TV…Advertising Upfronts in May should serve as a positive catalyst to shares,” analysts wrote.

While Netflix has hiked its subscription prices — its standard plan now costs $17.99, its ad-supported plan is $7.99 and premium is $24.99 — it appears to have retained its value proposition for customers. But it’s unclear if the subscriber base is growing or shrinking because the company recently stopped sharing details on its membership numbers, instead focusing on revenue growth.

This post appeared first on NBC NEWS

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In Politics

Trump to tap new national security advisor in 6 months; calls Waltz move ‘upgrade’

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President Donald Trump said Sunday that he plans to appoint a new national security advisor in about six months, telling reporters the former advisor, Mike Waltz, did not resign, but was instead tapped for an upgraded position as the administration’s ambassador to the United Nations.

Trump spoke with reporters on Air Force One on Sunday night, where he was asked about several topics, including the trade deals, Mexican cartels and the national security advisor position.

One reporter asked the president about Waltz’s exit as the national security advisor, which the president said he was being selected for what he called a ‘higher position,’ or an ‘upgrade.’

Trump also said Waltz did not make any mistakes, and, as the ambassador to the UN, he would do a good job.

‘I didn’t lose confidence in him,’ Trump said. ‘He’s going to the United Nations for a reason. To me, I think it’s personally, if I had assurance for myself… I’d rather have that job than the other.’

He also reiterated that Waltz did not resign, but instead, Trump moved him.

‘There was no resignation,’ the president said.

Waltz and other National Security Council staffers were ousted from their office on Thursday in the most high-profile executive office exits of the second Trump administration. Trump’s announcement on naming Waltz as U.N. ambassador unfolded just hours after the news began circulating. 

Trump told reporters Sunday that he plans to appoint someone to the national security advisor position within six months, saying there are a lot of people who want the job, which works into Secretary of State Marco Rubio’s – the interim national security advisor – current responsibilities.

The president was specifically asked if White House deputy chief of staff Stephen Miller was being considered for the role.

‘Stephen Miller at the top of the totem pole? I mean, I think he sort of indirectly already has that job… because he has a lot to say about a lot of things,’ Trump said. ‘He’s a very valued person in the administration, Stephen Miller.’

The president was also asked if any trade deals would be announced this week, answering that there could be some coming.

But when pressed if he could say more about the deals, Trump held back.

‘Nobody understands,’ he said. ‘We’re negotiating with many countries. But at the end of this, I’ll set my own deals because I set the deal. They don’t set the deal. I set the deal.’

Trump said he is meeting with almost all of the countries regarding trade deals, including China.

Explaining the process further, Trump said he will set the tariff, and a country could agree to it or not.

‘They don’t have to deal with us, which is ok, because we lost under Biden. We’re losing $5 billion a day,’ he said. ‘Think of it. $5 billion a day. Now we’re not dealing with China at all because of the tariffs… Because of that, we’re saving billions of dollars.’

During the gaggle, a reporter also asked if it was true that he offered to send U.S. troops to Mexico to take care of the cartels.

‘It’s true because they should be. They are horrible people that have been killing people left and right,’ Trump said. ‘They’ve made a fortune in selling drugs and destroying other people.’

He explained that the cartels are responsible for importing fentanyl into the U.S., which has killed over 300,000 people this year.

Trump called the cartel members ‘bad news.’

‘If Mexico wanted help with the cartels, we would be honored to go in and do it,’ Trump said ‘I told [Mexican President Claudia Sheinbaum] that I would be honored to go in and do it. The cartels are trying to destroy our country. They’re evil.’

The offer was ultimately rejected, which Trump said was because Sheinbaum is afraid of the cartels, so afraid that she ‘can’t even think straight.’

This post appeared first on FOX NEWS

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In Stocks

From Bunge’s Viterra deal to Shein’s IPO: US-China trade war derails major cross-border deals

4 Mins Read

Trade tensions between the United States and China are throwing a spanner in billions of dollars worth of acquisitions and initial public offerings, dealing a fresh blow to a dealmaking market that was already slow to recover this year.

Prevailing tensions between the two nations have reportedly stalled Bunge Global SA’s $8.2 billion acquisition of Viterra, as Chinese regulatory approval remains elusive.

According to people familiar with the matter reported by Bloomberg on Friday, Bunge executives, including CEO Greg Heckman, have made repeated trips to China, hoping to secure the green light.

But with the political rift deepening, concerns are growing that the process may drag on.

Bunge, one of the world’s largest agricultural commodity traders and a member of the so-called ABCD quartet, announced its intention to acquire Glencore-backed Viterra in June 2023.

The merger is set to create a $25 billion global powerhouse to challenge crop trading giants like Cargill Inc.

While the deal has passed regulatory hurdles in Europe and Canada, and is expected to proceed in Argentina, subject to post-closing remedies, China remains the major holdout.

Bunge stated it is in “constructive dialogue” with Chinese officials, but the lack of formal approval has become a sticking point.

Sources close to the matter say Beijing’s reluctance is not necessarily tied to competition concerns but is reflective of broader geopolitical tensions with the US.

China’s commerce ministry and antitrust regulator have not responded to requests for comment.

Shein’s London IPO faces delays as US ramps up tariffs

Chinese-founded fast-fashion giant Shein is also facing fallout from US-China tensions.

The company is considering a shake-up of its US operations as tariffs on Chinese imports put its planned London IPO at risk, according to a Financial Times report.

The company’s American division, which accounts for around one-third of Shein’s $38 billion in annual revenue, is expected to come under strain with the imminent expiration of a key tax exemption known as “de minimis,” the report said.

The de minimis rule expired on Friday.

Reuters reported on Friday that Shein had also severed ties with communications firms Brunswick and FGS, both of which were supporting its IPO strategy in London.

Their contracts expired on April 30 and will not be renewed, sources confirmed, in what the report said was another sign that the flotation was not going as planned.

Though Shein has received clearance from Britain’s financial regulator, it still requires approval from Chinese authorities.

With regulatory uncertainty on both ends and a hostile trade environment, the IPO, initially expected in the first half of the year, is now likely to be pushed into the latter half of 2025.

Wave of IPO postponements signals deeper market anxiety

The ripple effect of US-China trade tensions is being felt across global financial markets, with a growing list of companies delaying IPO plans.

Firms like Klarna Bank AB, Medline, and StubHub Holdings Inc. have all shelved their listing efforts in recent weeks due to heightened volatility sparked by Trump’s tariff announcements on April 2.

Offerings from adtech group MNTN Inc. and insurer Ategrity Specialty Holdings were also on hold, it was reported.

Trading platform EToro Group Ltd., had in April reportedly paused its IPO ambitions, but according to a Bloomberg report on Friday, it is now considering launching its US initial public offering as soon as next week.

Sources cited in the report caution, however, that no final decision has been made.

If EToro proceeds, it would be the first among the group of delayed IPOs to move forward following the tariff turmoil.

But the broader picture remains bleak: protectionist trade policies and retaliatory measures from China are weighing heavily on companies with global exposure, disrupting both M&A deals and capital-raising efforts.

The post From Bunge’s Viterra deal to Shein’s IPO: US-China trade war derails major cross-border deals appeared first on Invezz

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In World news

Top 5 Canadian Mining Stocks This Week: Lion Rock Jumps 60 Percent

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The Liberal Party of Canada and Prime Minister Mark Carney will form a minority government following their victory in Canada’s national election on Monday (April 28). The Liberals won 168 seats, just shy of the 172 required to form a majority, meaning the Liberal government will have to work with the Bloc Québécois or the NDP, which won 23 and 7 seats, respectively.

The Conservative Party of Canada, led by Pierre Poilievre, won 144 seats. While the CPC was originally expected to win the election, the trade war and sovereignty threats from new US President Donald Trump turned the tide in favor of Carney, who took a firmer stance against Trump. Other election issues included the high cost of living, housing, immigration and crime.

Both parties came into the election with visions for Canada’s economy, which included energy and infrastructure corridors, a commitment to energy production and a focus on resource nationalism.

Statistics Canada released February’s gross domestic product by industry figures on Wednesday (April 30). According to the data, the resource sector’s January gains were largely erased by contractions in February. Oil and gas extraction slipped by 2.8 percent, while mining and quarrying contracted by 2.6 percent during the month. Metal ore mining posted its second month of declines, falling 2.5 percent. On the other hand, non-metallic mineral mining climbed by 2.7 percent, including a 3.5 percent rise in potash mining.

South of the Border, The United States Bureau of Labor Statistics released its April employment situation summary on Friday (May 2). In the report, the agency said that 177,000 new nonfarm jobs were added to the economy in April, which exceeded analysts’ expectations of 133,000 jobs.

The biggest gains came in the healthcare sector, which added 51,000 workers, followed by transportation and warehousing, where 29,000 people found new employment.

Overall, the unemployment rate remained steady at 4.2 percent, and the participation rate was unchanged at 62.6 percent.

However, there were some caveats, most notably, downward revisions of 15,000 fewer jobs in February and 43,000 jobs in March than initially reported.. Long-term unemployment also ticked up by 179,000 to 1.67 million in April, the highest since March 2022.

While the number showed strength in the job market, many analysts expect these gains to be temporary, as the effects of US tariffs have yet to be felt in the economy.

The US government also announced on Wednesday that it signed a critical minerals deal with Ukraine. Under the terms of the agreement, the US will provide funding for Ukraine’s reconstruction in exchange for preferential access to the country’s natural resources, including rare earth minerals, which are critical to tech and military development and supply chains.

Additionally, the Trump administration announced it added 10 new projects to be fast-tracked to its federal permitting dashboard on Friday. The projects include the NorthMet copper and nickel project in Minnesota, which is a 50/50 joint venture between Teck (TSX:TECK.A,TECK.B,NYSE:TECK) and Glencore (LSE:GLEN,OTC Pink:GLCNF), as well as Sibanye Stillwater’s (NYSE:SBSW) Stillwater platinum and palladium project in Montana.

Markets and commodities react

In Canada, major indexes posted gains by the week’s close. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.32 percent during the week to close at 25,031.51 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 0.01 percent to 656.40 and the CSE Composite Index (CSE:CSECOMP) climbed 2.52 percent to 122.75.

US equity markets also posted gains by close on Friday, with the S&P 500 (INDEXSP:INX) increasing 2.85 percent to close at 5,686.66, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 3.45 percent to 20,102.61 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 2.8 percent to 41,317.44.

The gold price fell from recent highs, closing out Friday at US$3,233.98, down 2.56 percent over the week. The silver price was also down, shedding 3.21 percent during the period to US$32.03.

In base metals, the COMEX copper price fell 4.29 percent over the week to US$4.69 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was down 3.17 percent to close at 520.19.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

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

Stock data for this article was retrieved at 3:30 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Lion Rock Resources (TSXV:ROAR)

Weekly gain: 60 percent
Market cap: C$20.51 million
Share price: C$0.32

Lion Rock Resources is a gold and critical mineral exploration company focused on advancing its Volney gold-lithium-tin project in South Dakota, United States.

The property is situated on 142 hectares of private land with surface and mineral rights in place. The site hosts historic gold and tin mining operations dating back to the 1920s. Additionally, the site contains the Giant Volney pegmatite body, from which 15 grab samples graded an average of 4.4 percent lithium oxide, with the highest grading 5.4 percent.

The most recent news from the project came on Thursday (May 1) when Lion Rock announced that it had started its 2025 exploration program, including a high-resolution magnetic survey, mapping and sampling. The company said that the program will target high-grade lithium, gold and tin, and results will be used to refine drill targets and expand known mineralized zones.

The company also released its year-end 2024 financial report on Tuesday (April 29).

2. Foremost Clean Energy (CSE:FAT)

Weekly gain: 42.86 percent
Market cap: C$14.27 million
Share price: C$1.30

Foremost Clean Energy is a uranium exploration company working to advance projects in the Athabasca Basin in Northern Saskatchewan, Canada.

In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.

Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares.

Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.

This Thursday, Foremost announced a new uranium discovery at Hatchet Lake from initial results of the company’s ongoing inaugural drill program.

In the announcement, the company said the discovery included multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including an intersection of 0.5 percent over 0.1 meters.

3. Baru Gold (TSXV:BARU)

Weekly gain: 42.86 percent
Market cap: C$13.53 million
Share price: C$0.05

Baru Gold is a development company working to advance its Sangihe gold project in Indonesia.

The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.

Baru Gold is progressing towards approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last mineral resource estimate in May 2017.

On February 14, the company published a technical report with an updated mineral resource estimate. The mineral resource estimate demonstrated an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 grams per metric ton (g/t) gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.

The update marks a significant step towards government approval for production operations status, with the only remaining requirement being the payment of taxes.

The most recent news came on April 2 when the company announced the closing of the first tranche of a private placement for C$336,321.88. Funding raised through the placement will be used in part for payment of land use taxes on the Sangihe property.

4. Taranis Resources (TSXV:TRO)

Weekly gain: 42.5 percent
Market cap: C$21.07 million
Share price: C$0.285

Taranis Resources is a copper explorer focused on advancing work at its Thor project in Southeast British Columbia, Canada.

The site has seen previous mining dating back to the early 1900s and hosts at least seven different epithermal zones. In a February mineral resource estimate update, the company reported an indicated resource of 1.14 million metric tons of ore containing 27,400 ounces of gold, 5.58 million ounces of silver, 3.1 million pounds of copper, 47.8 million pounds of lead and 77.9 million pounds of zinc.

The most recent news from the Thor project came on April 9, when Taranis provided an update on its 2024 deep drilling program. The company finalized an alteration study of the drill holes, which encountered anomalous gold, zinc and arsenic, and plans to use the results to improve targeting and lower costs for its 2025 drilling program.

5. Black Iron (TSX:BKI)

Weekly gain: 41.18 percent
Market cap: C$38.02 million
Share price: C$0.12

Black Iron is an exploration and development company working to advance its Shymanivske iron project in Ukraine.

The 300 hectare property is located approximately 330 kilometers south-east of the capital of Kiev and is situated within the well-known iron ore mining district of KrivBass.

According to a March 2020 preliminary economic assessment, project economics demonstrated an after-tax net present value of US$1.44 billion at a discount rate of 10 percent with an internal rate of return of 34.4 percent and a payback period of 3.3 years.

The included mineral resource estimate reported a measured and indicated resource of 645.8 million metric tons of ore with an average grade of 31.6 percent total iron and 18.8 percent magnetic iron.

Although Black Iron did not release any news this week, the company’s share price gained alongside news of the US and Ukraine reaching a critical minerals agreement.

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 February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 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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In Business

Jeff Bezos discloses plan to sell up to $4.8 billion in Amazon stock

2 Mins Read

Amazon founder Jeff Bezos plans to sell up to 25 million shares in the company over the next year, according to a financial filing on Friday.

Bezos, who stepped down as CEO in 2021 but remains Amazon’s top shareholder, is selling the shares as part of a trading plan adopted on March 4, the filing states. The stake would be worth about $4.8 billion at the current price.

The disclosure follows Amazon’s first-quarter earnings report late Thursday. While profit and revenue topped estimates, the company’s forecast for operating income in the current quarter came in below Wall Street’s expectations.

The results show that Amazon is bracing for uncertainty related to President Donald Trump’s sweeping new tariffs. The company landed in the crosshairs of the White House this week over a report that Amazon planned to show shoppers the cost of the tariffs. Trump personally called Bezos to complain, and Amazon clarified that no such change was coming.

Bezos previously offloaded about $13.5 billion worth of Amazon shares last year, marking his first sale of company stock since 2021.

Since handing over the Amazon CEO role to Andy Jassy, Bezos has spent more of his time on his space exploration company, Blue Origin, and his $10 billion climate and biodiversity fund. He’s used Amazon share sales to help fund Blue Origin, as well as the Day One Fund, which he launched in September 2018 to provide education in low-income communities and combat homelessness.

This post appeared first on NBC NEWS

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World Press Freedom Day: Release my father Jimmy Lai, who published what China’s leaders did not want to hear

5 Mins Read
NEWYou can now listen to Fox News articles!

George Orwell famously said, ‘If liberty means anything at all, it means the right to tell people what they do not want to hear.’ On World Press Freedom Day, we must remind ourselves of the people who have lost their freedoms fighting for this very right. 

My father Jimmy Lai is one such man. He is currently in Stanley maximum security prison in Hong Kong, facing potential life in prison for simply publishing what Chinese authorities do not want to hear. 

His story is one of extraordinary transformation and unwavering conviction. Arriving in Hong Kong at age 12 after fleeing Communist China, he began his journey as a child laborer in a clothing factory, enduring hardship and poverty. 

Yet, through grit and vision, he rose from factory worker to factory manager, and by 1975, used his savings to purchase a bankrupt garment factory. This bold move laid the foundation for his first major success: Giordano, a clothing chain that grew into an international brand with thousands of employees and stores across Asia.

The 1989 Tiananmen Square massacre marked a turning point for him. Witnessing the brutal suppression of pro-democracy protesters, he redirected his life’s work from business to activism, determined to fight for freedom and human rights in Hong Kong. 

In 1995, he founded Apple Daily, a newspaper that quickly became a beacon for free speech and democracy, unafraid to criticize the Chinese Communist Party and expose corruption. My father poured $100 million of his own fortune into the venture, ensuring the paper’s independence and fearless reporting.

His media empire, including Next Magazine and Apple Daily, became a megaphone for Hong Kong’s pro-democracy movement, rallying citizens and challenging the authorities. His outspoken criticism of Beijing and unwavering support for protestors made him a target. 

The CCP labeled him a ‘troublemaker,’ and his businesses faced retaliation, including the closure of his Beijing Giordano store after a controversial column. Yet, he never wavered, famously stating, ‘Information is choice and choice is freedom’ using both high-brow and popular content to spread the message of liberty.

His commitment to principle set him apart from other tycoons. While many business leaders in Hong Kong chose silence or compromise, he stood alone, enduring threats, arrests, and ultimately imprisonment for his beliefs. In 2014, he was arrested during the pro-democracy Umbrella Movement protests, and in 2020, as Beijing tightened its grip on Hong Kong, my father was again detained under the draconian National Security Law. 

Despite the risks, he refused to flee, choosing to remain in Hong Kong and continue the stand for his beliefs, even as Apple Daily was forced to close, even as he now faces the possibility of the rest of his life behind bars.

My father’s life is a testament to the power of conviction. He is not just a businessman or media mogul – he is a symbol of freedom and hope for many. His outsider status, as an immigrant who never quite fit in, gave him the strength to play by his own rules and challenge the status quo.

Despite his wealth and influence, he remains deeply human – a husband, father and practicing Catholic. We miss his booming voice and boisterous laughter around our dinner table. We long for the day we can again share a meal, again pray together.

Over the past few months, both President Donald Trump and Secretary of State Marco Rubio have publicly stated their commitment to securing my father’s freedom, consistent with the president’s prioritizing the release of those wrongly detained abroad. He has secured the release of 14 prisoners since taking office in January.

My father is fortunate to have deep bipartisan support in this country and abroad. The U.S. and the U.K. have called for his immediate and unconditional release, as have the parliaments of Canada and the EU. He has received numerous awards for his courage, and I will receive a Bradley Prize on his behalf on May 29 in Washington. But he remains in prison.

My father is one of 10 journalists who are still being held in Hong Kong’s prisons, some of whom worked for him at Apple Daily. While he may be the most high-profile among them, all of these journalists were fighting for their right to speak truth to power, and to defend their way of life.

Their bravery reminds us that freedom is never guaranteed – it must be fought for, often at great personal cost. My father’s defiance in the face of overwhelming power, his willingness to sacrifice everything for his principles, and his belief in the dignity of every individual make him a genuine hero of our time. 

At 77 years old, he has spent the last four years in a maximum-security prison for these beliefs. His legacy endures as a beacon of hope, showing that just one person’s courage can change the course of history. 

The end to my father’s story is not yet written. This World Press Freedom Day, I appeal to all who cherish free speech to join our fight to secure my father’s release so he can leave Hong Kong and spend his old age with his family.

This post appeared first on FOX NEWS

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Xpeng EV deliveries soar 273% in April; BYD leads with over 370,000 units sold

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Chinese electric vehicle manufacturers posted diverging sales trajectories in April, with Xpeng marking the strongest year-on-year growth among major players.

The company delivered 35,045 EVs last month, a 273% surge from April 2023, extending its streak of monthly deliveries above 30,000 units.

Meanwhile, industry heavyweight BYD led the market in terms of volume, selling over 370,000 passenger cars during the same period, reaffirming its dominance in the global EV landscape.

The delivery data from April underscores the intensifying competition across China’s EV sector, with some brands accelerating on product innovation and global expansion, while others face monthly setbacks due to market saturation, supply chain challenges, or safety concerns.

Xpeng and Leapmotor accelerate amid new launches

Xpeng’s April performance was bolstered by the rollout of its upgraded flagship model, the X9, which starts at 359,800 yuan ($49,482).

The company has kept delivery figures above the 30,000 mark for six consecutive months, suggesting a stable pipeline and growing consumer uptake.

Xpeng’s momentum aligns with broader trends in the premium EV segment, where technological differentiation and model refreshes continue to drive sales.

Leapmotor, another fast-growing rival, came close to its all-time monthly high by delivering 41,039 vehicles.

Although it did not surpass its December 2024 record of 42,517 units, the firm remains one of the top challengers to legacy EV brands, leveraging affordability and localised offerings to maintain demand.

BYD widens its global lead with record overseas shipments

BYD extended its lead with 372,615 passenger vehicles sold in April, up 45.09% from the previous year. The company shipped 79,086 units overseas, beating its March record of 72,723, in line with its ambition to strengthen its global presence.

The company unveiled five new models at the Shanghai Auto Show, held between April 23 and May 2.

With an expansive portfolio spanning hybrids, pure EVs, and premium segments, BYD’s strategy appears focused on breadth and aggressive export growth, particularly across Southeast Asia, Europe, and Latin America.

Nio and Li Auto show mixed results

Nio saw a partial rebound in April, delivering 19,269 vehicles for its main brand, compared to 10,219 in March. However, its sub-brand Onvo reported a month-on-month dip, delivering 4,400 units versus 4,820 in March.

Firefly, Nio’s compact EV brand, officially launched its namesake model on April 19. Deliveries began on April 29, totalling 231 units based on publicly available figures.

Li Auto, which recently dominated the extended-range EV niche, recorded a delivery drop in April to 33,939 units from 36,674 in March. Despite the sequential dip, the company still posted a 31.6% increase compared to April 2023, indicating continued long-term growth momentum.

Safety concerns cloud Xiaomi’s rise

Xiaomi delivered more than 28,000 units in April, a slight fall from the previous month’s record of over 29,000. The slowdown follows an SU7 crash in early April that resulted in three fatalities. The incident sparked heightened scrutiny of EV safety protocols.

In response, industry attention at the Shanghai Auto Show shifted toward enhanced safety technologies.

Nomura analysts, in an April 28 note, stated that carmakers are now prioritising the integration of Lidar (light detection and ranging) sensors to improve advanced driver assistance systems (ADAS).

This shift suggests a broader push toward regaining consumer trust and complying with tightening safety regulations.

Other players face delivery headwinds

Geely-owned Zeekr saw April deliveries fall to 13,727 vehicles, down from 15,422 in March and a 14.7% year-on-year drop. The company’s performance highlights the uneven demand for mid-tier EVs, especially amid fierce competition and evolving buyer preferences.

As automakers navigate economic pressures and consumer demand cycles, monthly delivery trends reveal where brand strength, innovation, and global strategy are converging — and where they are not.

With the market entering a critical inflection point, players who fail to adapt may find it difficult to keep pace with growth leaders like BYD and Xpeng.

The post Xpeng EV deliveries soar 273% in April; BYD leads with over 370,000 units sold appeared first on Invezz

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Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement

9 Mins Read

finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) (‘Finlay’ or the ‘Company’) is pleased to announce the receipt of TSX Venture Exchange (the ‘ Exchange ‘) conditional acceptance for its previously announced earn-in agreement (the ‘ PIL Earn-In Agreement ‘) with Freeport-McMoRan Mineral Properties Canada Inc. (‘ Freeport ‘), a wholly owned subsidiary of Freeport-McMoRan Inc. (NYSE:FCX) relating to its PIL property (‘ PIL Property ‘). The PIL Property consists of 50 mineral claims in the Toodoggone District of northern British Columbia . The Company also entered into an earn-in agreement (the ‘ ATTY Earn-In Agreement ‘) with Freeport relating to its ATTY property (the ‘ ATTY Property ‘, together with the PIL Property, the ‘ Properties ‘). The ATTY Earn-In Agreement is not subject to Exchange approval, as it qualifies as an ‘Exempt Transaction’ under Exchange Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets . The PIL and ATTY earn-in agreements are arm’s length transactions, and no finder’s fees are payable in connection with either earn-in agreement.

Pursuant to the PIL Earn-In Agreement, Freeport may acquire an 80% interest in the PIL Property by making aggregate cash payments of CAD $3,000,000 to Finlay and completing an aggregate of $25,000,000 of exploration expenditures on the PIL Property over a 6-year period.  Pursuant to the ATTY Earn-In Agreement, Freeport may acquire an 80% interest in the ATTY Property by making aggregate cash payments of CAD $1,100,000 to Finlay and completing an aggregate of $10,000,000 of exploration expenditures on the ATTY Property over a 6-year period.  The earn-in in respect of each of the Properties may be exercised separately, and the full details of the exercise requirements for each earn-in are set out in the table below.  Following the completion of the earn-in on either of the Properties, Freeport and Finlay will respectively hold interests of 80% and 20% in such Property, and a joint venture company will be formed for further exploration and development.  In the event that a party does not fund their portion of further joint venture programs, their interests in the joint venture company will dilute. Any party that dilutes to below a 10% interest in the joint venture company will exchange its joint venture company interest for a net smelter returns (‘ NSR ‘) royalty of 1% on the applicable Property, which is subject to a 0.5% buyback for USD $2,000,000 .

Table 1 . Staged cash and expenditure terms for the PIL and ATTY earn-in agreements.

PIL

ATTY

Cash

Work

Cash

Work

Year 1

$ 550,000

$    750,000

$    150,000

$      500,000

Year 2

$ 350,000

$ 1,000,000

$    100,000

$   1,000,000

Year 3

$ 375,000

$ 3,000,000

$    125,000

$   1,500,000

Year 4

$ 400,000

$ 5,250,000

$    150,000

$   2,000,000

Year 5

$ 500,000

$ 5,500,000

$    275,000

$   2,000,000

Year 6

$ 825,000

$ 9,500,000

$    300,000

$   3,000,000

Total (CAD)

$3,000,000

$25,000,000

$1,100,000

$10,000,000

These earn-in requirements can be accelerated by Freeport at its discretion. During the earn-in period, Finlay will be the operator on the Properties, collecting an operator’s fee, under the direction of a joint technical committee that will approve work programs and budgets during the earn-in period.

The PIL & ATTY Properties are each subject to a 3.0% NSR royalty held by Electrum Resource Corporation (‘ Electrum ‘), a private company, the outstanding voting shares of which are held by Company directors John A. Barakso and Ilona B. Lindsay . The Company has a current right to buy back ½ of the royalty (1.5%) on each property for an aggregate payment of $2,000,000 and $1,500,000 respectively.  Finlay and Electrum have entered into amended and restated royalty agreements (the ‘ A&R Royalty Agreements ‘) relating to each of the PIL and ATTY Properties, pursuant to which upon and subject to the exercise of the earn-in in respect of each Property by Freeport , the buy-back right will be amended to provide for a 2.0% royalty buy-back for each Property, in consideration for an increased buy-back payment that will be sole-funded by Freeport without joint venture dilution to Finlay, and will be divided equally between Finlay and Electrum. For the PIL Property, the increased buy-back will be:

    For the ATTY Property, the increased buy-back will be:

      1. USD$5,000,000 if the buy-back is exercised on or before the date that is 60 days following the report of an initial Pre-Feasibility Study on the ATTY Property;
      2. USD$7,500,000 if the buy-back is exercised on or before the date that is 60 days following the report date of an initial Feasibility Study on the ATTY Property; or
      3. USD$10,000,0000 if the buy-back is exercised on or after commercial production.

    Under the A&R Royalty Agreements, Finlay and Electrum have also agreed, subject to the exercise of the applicable Freeport earn-in, to extinguish share issuance obligations of 1,000,000 common shares and 500,000 common shares owing to Electrum prior to or on a production decision on the PIL and ATTY Properties respectively.

    Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.

    About the PIL Property:

    The 100% owned PIL Property covers 13,374 hectares of highly prospective ground in the prolific Toodoggone mining district of north-central British Columbia. The core PIL claims were staked over 30 years ago by the founders of the Company. Over the decades, numerous Cu-Au-Mo porphyry and porphyry-related Au-Ag epithermal targets have been identified at PIL. The identified targets are central to a broader 70 km porphyry corridor trend, which includes: Centerra Gold’s past producing Kemess South Cu-Au porphyry mine and Kemess Underground Cu-Au-Ag porphyry resource, Thesis Gold’s Lawyers-Ranch Au-Ag epithermal resource, and the newly discovered Amarc Resources and Freeport AuRORA Cu-Au-Ag porphyry.  Readers are cautioned that mineralization on the foregoing regional properties is not necessarily indicative of mineralization on the PIL Property. The PIL Property is road accessible and permitted for the 2025 season.

    About the ATTY Property:

    The 100% owned ATTY Property covers 3,875 hectares in the prolific Toodoggone mining district of north-central British Columbia. The ATTY Property adjoins Centerra Gold’s Kemess Project and Amarc Resources and Freeport’s JOY property. Several epithermal-style Ag ± Au ± Cu ± base-metal veins are exposed on the ATTY Property, and geochemical and geophysical work have outlined at least two promising porphyry targets, including the drill-ready KEM Target. The ATTY Property is road accessible and permitted for the 2025 season.

    Qualified Person:

    Wade Barnes , P. Geo. and Vice President, Exploration for Finlay and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

    About finlay minerals ltd.

    Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100% owned properties in northern British Columbia : the PIL and ATTY properties in the Toodoggone, the Silver Hope Cu-Ag Property (21,322 ha) and the SAY Cu-Ag Property (26,202 ha) and JJB Property (15,423 ha) in the Bear Lake Corridor of BC.

    Finlay Minerals is advancing the ATTY, PIL, JJB, SAY and Silver Hope Properties that host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.

    Finlay trades under the symbol ‘FYL’ on the TSXV and under the symbol ‘FYMNF’ on the OTCQB. For further information and details, please visit the Company’s website at www.finlayminerals.com

    On behalf of the Board of Directors,

    Robert F. Brown
    President, CEO & Director

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    Forward-Looking Information: This news release includes certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as ‘expect’, ‘plan’, ‘anticipate’, ‘project’, ‘target’, ‘potential’, ‘schedule’, ‘forecast’, ‘budget’, ‘estimate’, ‘intend’ or ‘believe’ and similar expressions or their negative connotations, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’, ‘should’ or ‘might’ occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the Properties and the potential exercise of Freeport’s option to acquire an interest in the Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay’s proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements,   and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

    SOURCE finlay minerals ltd.

    View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/02/c5071.html

    News Provided by Canada Newswire via QuoteMedia

    This post appeared first on investingnews.com

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    Data center boom in world’s largest market isn’t slowing down, Dominion Energy says

    2 Mins Read

    Data center demand is not slowing down in the world’s largest market centered in northern Virginia, executives at Dominion Energy said Thursday.

    Dominion provides electricity in Loudoun County, nicknamed “Data Center Alley” because it hosts the largest cluster of data centers in the world. The utility works closely with the Big Tech companies that are investing tens of billions of dollars in data centers as they train artificial intelligence models.

    “We have not observed any evidence of slowing demand from data center customers across our service area,” Dominion’s chief financial officer, Steven Ridge, told analysts on the company’s first-quarter earnings call.

    Wall Street has speculated that the tech sector might pull back investment in data centers as President Donald Trump’s tariffs make it more difficult to source parts and raise the risk of a recession. The emergence of China’s DeepSeek AI lab sparked a sell-off of power stocks earlier this year as investors worried that its model is more energy efficient.

    Dominion has 40 gigawatts of data center capacity in various stages of contracting, Ridge said. Data center customers have not paused spending on new projects in Dominion’s service area and they have not shown any concerns about economic uncertainty, Dominion CEO Robert Blue said.

    “We’re seeing continued appetite for additional data center capacity in our service territory,” Blue said. “They want to go fast, they always want to go fast. That’s their business, that’s always been their business. We’ve been effective at serving them thus far. I don’t see any reason why that’s going to change in the future,” he said.

    Executives with Amazon and Nvidia said last week at an energy conference in Oklahoma City that data center demand is not slowing. Dominion shares rose about 1% in Thursday trading as the utility maintained its full-year operating earnings guidance of $3.28 to $3.52 per share.

    This post appeared first on NBC NEWS

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