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Israeli forces detained prominent Palestinian journalist Ali Samoudi in an early morning raid on his son’s home in the occupied West Bank.

In May 2022, Samoudi was working near the entrance to the Jenin refugee camp when Israeli forces shot and killed Palestinian-American journalist Shireen Abu Akleh. Samoudi was shot and injured in the gunfire.

The Palestinian Journalists Syndicate condemned the raid and Samoudi’s arrest.

Samoudi is the latest of dozens Palestinian journalists to be arrested by Israeli forces over the past 18 months. According to the Committee to Protect Journalists, Israel has arrested at least 84 journalists in the West Bank, Gaza and Jerusalem since the start of the war in Gaza in October 2023.

This post appeared first on cnn.com

A Chinese man fighting for the Russian Army claims his superiors locked him in a dark steel-barred pit, with barely enough room to stand, for 21 days. His offense, he said, was a dispute with his commander over lifesaving protective gear.

Michael, not his real name, said he joined Russia’s fight against Ukraine to “have a taste for military life abroad” but after a brutal year on the frontlines is now convinced enlisting in Vladimir Putin’s army was “a mistake.”

His experience in the pit, where the 29-year-old said he could barely lift his head, killed his desire to fight for Moscow and he wants to send a message home to other Chinese nationals contemplating joining Russia’s fight.

“I have to speak out some truths and warn those irrational Chinese – don’t come over here,” he said.

“The world’s number two military is a sheer joke,” Michael said, listing subpar equipment, inadequate logistics, mistreatment and “severe corruption” as issues within the military, complaints that have been widely documented since the war began.

Both Ukraine and Russia have used foreign fighters to bolster their forces. But the issue of Chinese mercenaries fighting for Russia was thrust into the global spotlight when Ukraine’s President Volodymyr Zelensky revealed two Chinese fighters had been captured by Ukraine in early April and claimed there were “many more” in Russia’s ranks.

Zelensky demanded answers from Beijing which, in turn, denied any involvement and repeated previous calls for Chinese citizens to “refrain from participating in military actions of any party.”

Russia’s deputy foreign minister called the claims Chinese citizens were fighting in Ukraine a “complete untruth,” according to TASS, a Russian state media agency. Days later Ukraine paraded the Chinese fighters it captured in front of the media.

Macho propaganda videos

Chinese men have been targeted on social media by recruitment ads to join Russia on the frontlines fighting Ukraine.

The videos are all in Russian but come with Chinese translations. One carried Chinese subtitles saying: “Aren’t you a man? Be a real man!” It is not clear who made the translations.

Such videos caught the attention of Michael, who said he started seeing them in 2023 on Douyin – the Chinese version of TikTok. Once enlisted, he started posting regular social media videos of his time in Moscow’s ranks.

“I felt pretty pumped back then,” Michael recalled. “As a former professional soldier in China, I thought there had to be a way for me to contribute here.”

He said it wasn’t political – he just wanted to fight. “I’m just a pure soldier,” he said.

While he could’ve chosen to fight for Ukraine, he said, but it was easier to get a visa to go to Russia and he arrived in Moscow on a tourist permit in November 2023.

After being initially turned down by the Russian army because he didn’t speak Russian, he said he joined the infamous mercenary group Wagner and was sent to fight in the Donbas region. Six months later, in May 2024, he says he signed a one-year contract with Russia’s Defense Ministry which sent him to Bakhmut. Other foreign fighters have signed similar contracts.

Michael offered a reason the money mattered; describing himself and many Chinese fighters on Russia’s frontline as being “from the bottom of the heap” in his homeland’s hyper-competitive society and where economic growth is slowing.

A Chinese man who fought for Russia, who CNN has chosen not to name

He said he previously served as a prison guard and, like Michael, claimed fighting for Russia was not a political choice.

He chose to fight for Russia because he felt it “has the upper hand in military strength.”

That view is not uncommon in China.

Maria Repnikova, an expert on Chinese and Russian politics at Georgia State University, said state media coverage in China leans towards a pro-Russia stance. “The Chinese outlets’ coverage of the war has significant impact on public perceptions of this ongoing invasion,” she said.

But shortly after Zelensky raised the issue of Chinese fighters on the Russian frontlines with Beijing last week, many of those social media accounts were blocked.

The Russian recruitment ads, however, are still widely available on China’s tightly-controlled internet.

Michael was one of those Chinese fighters regularly sharing his experiences on Chinese social media, but he said was restricted from posting before the latest round of censorship. He believes the sweeping ban was because of his public comments detailing his mistreatment in the Russian military.

The other fighter, who returned to China in late 2024, said he discovered he was now prohibited from leaving the country last month, when he was stopped before a planned trip abroad. He suspects the travel ban is connected to his previous service in Russia.

A Chinese man who fought for Russia, who CNN has chosen not to name

Chinese fighters on both sides

There have been Chinese fighting on both sides of this war but those who chose to fight for Ukraine – who largely see themselves as motivated by ideology rather than finances – seem to have one thing in common: they spent time out of China.

Jason, who was born in China, moved to the United States during his high school years.

After spending four months dodging shells in trenches and foxholes, the then infantryman said he sought to be even more active in combat. He applied to transfer to an assault company, but said he was turned down because the Ukrainian commander was suspicious about his nationality.

Reflecting, a year after returning to the US, he said that was a “pity,” but he understood the suspicion because “China and Russia are pretty close.”

China’s threat to one day take Taiwan was a motivation for Jason to fight with Ukraine.

The cause of the self-governing island – which China’s Communist Party claims as its own and has vowed to seize by force, if necessary – is deeply personal for the 27-year-old. He said his great-grandfather was a Nationalist soldier who lost his life in the fight against the Communists in the late 1940s during China’s civil war. The defeated Nationalist government retreated to Taiwan.

He hopes the fact he went to fight for Ukraine would give people in Taiwan a “sense of hope that someone would come to help,” if China were to invade.

“I think most of the Chinese people are being brainwashed for a long time,” he said.

She said she was inspired to sign up for service in Ukraine after seeing a video about the only known Chinese national killed while fighting for Ukraine.

Claims of a “one-sided” narrative in China were also made by the two Chinese fighters captured by Ukraine. Ukrainian security personnel watched over the men as they spoke, likely under duress, and the fact the two men were put in front of media at all is likely a violation of international humanitarian law.

Following the capture, Zelensky has publicly said Ukraine is investigating whether the Chinese state has had a hand in encouraging its nationals to fight for Russia.

“I don’t have an answer to this question yet. The Security Service of Ukraine will work on it,” he said last week, adding: “We are not saying that someone gave any command, we do not have such information.”

China has repeatedly denied any state involvement. “These claims are groundless,” said Lin Jian, spokesperson for China’s Foreign ministry, after being asked about Zelensky’s statement “many more” Chinese citizens were fighting for Russia.

“Ukraine should acknowledge China’s efforts and constructive role in seeking a political solution to the crisis,” said Lin in a news conference on April 9.

China’s quick move to censor the social media accounts of Chinese fighters in Russia is to have been expected, according to Maria Repnikova, the Georgia State University expert. “I am not surprised by the censorship of mercenaries since the capture was a big scandal,” she said.

While social media has undoubtedly played a role in the recruitment of Chinese fighters, Repnikova said the fact the recruitment ads were not censored in China, and remain available, was likely more an “oversight” than “strategic” because the pro-Russian view in such videos is “just entwined with the narrative of Russia fighting well.”

Michael and Jason may have fought on opposite sides of this war, but they have a shared experience: the reality of war, they said, was much worse than they ever expected.

“It’s incredibly brutal, far beyond what anyone can imagine,” said Michael.

This post appeared first on cnn.com

A cardinal convicted of financial crimes by the Vatican said Tuesday he will not take part in the secret conclave to elect the new pope.

Cardinal Giovanni Angelo Becciu, once one of the most powerful figures in the Vatican, was ordered by Pope Francis in 2020 to resign the “rights and privileges” of a cardinal after he became embroiled in a Vatican financial scandal.

Following the pope’s death last week, Becciu launched an appeal in support of his right to be in the conclave, but on Tuesday, he issued a statement announcing he was formally pulling out. “I have decided to obey, as I have always done, Pope Francis’ will not to enter the Conclave while remaining convinced of my innocence,” he said.

Cardinals have chosen May 7 as the date to start conclave and elect a new leader for 1.4 billion Catholics around the world, the Vatican announced Monday.

Becciu’s decision to withdraw from the conclave comes just seven days after he told a Sardinian newspaper that “there was no explicit will to exclude me from the conclave nor a request for my explicit renunciation in writing.”

The Sardinian cardinal previously held the position of “sostituto” (“substitute”) in the Holy See’s Secretariat of State – a papal chief of staff equivalent. The role offered Becciu walk-in privileges to see the pope and he commanded huge authority across the church’s central government. He was later moved to a position running the Vatican’s saint-making department.

Becciu was convicted of embezzlement and fraud in 2023 and handed a five-and-a-half-year jail sentence. He is the first cardinal to be convicted by the Vatican’s criminal court.

But the cardinal, who has always maintained his innocence, launched an appeal that’s currently still under consideration. He’s allowed to continue to live in a Vatican apartment while this process is underway.

This post appeared first on cnn.com

The trial of a woman accused of murdering three elderly people after allegedly serving them a lunch of poisonous mushrooms began in Australia on Tuesday, as additional charges of the attempted murder of her husband were dropped by prosecutors.

Erin Patterson is charged with the 2023 murders of her mother-in-law Gail Patterson, father-in-law Donald Patterson and Gail’s sister Heather Wilkinson, along with the attempted murder of Ian Wilkinson, Heather’s husband, in a case that has gripped Australia.

All four became ill after the lunch hosted by the accused at her home in Leongatha, a town of around 6,000 people some 135 kilometers (84 miles) from Melbourne.

Prosecutors allege the mushrooms were served to the victims as part of a beef Wellington.

Fifteen jurors were selected on Tuesday at the Latrobe Valley Magistrates’ Court in nearby Morwell, with the opening arguments expected to begin on Wednesday morning.

Charges regarding the attempted murder of the accused’s husband, Simon Patterson, have been dropped by prosecutors, Justice Christopher Beale told the court on Tuesday.

“Those charges have been dropped and you must put them out of your mind,” he told the jury.

Erin Patterson has pleaded not guilty to all charges.

The case has generated huge interest both in Australia and internationally, with the six seats in the courtroom reserved for media allocated in a daily ballot. Dozens more are expected to watch proceedings in an overflow room set up at the court.

State broadcaster ABC is producing a daily podcast during the trial, which is expected to run for five to six weeks, while streaming service Stan has commissioned a documentary on what it says is “one of the highest profile criminal cases in recent history.”

This post appeared first on cnn.com

The first batch of individuals jailed in the landmark Hong Kong national security trial of “47 democrats” accused of conspiracy to commit subversion was freed on Tuesday after being behind bars for more than four years.

Four former pro-democracy lawmakers, including Claudia Mo, Kwok Ka-ki, Jeremy Tam and Gary Fan were driven away from three separate prisons across Hong Kong around dawn. Security was tight with patrols of police officers, and access to some roads to the prisons restricted for hours beforehand.

A Reuters witness outside the maximum security Stanley Prison, where Kwok and Tam were held, was told by a police officer they had left.

Vehicles were also seen leaving the more remote Shek Pik Prison on Lantau Island and a women’s correctional institution at Lo Wu close to the border with mainland China.

Police blocked access to two roads leading to the entrance of Shek Kip Prison, so media could only stand on a bridge next to a reservoir overlooking the ocean-facing facility.

Fan, speaking to the press when he arrived at his home early on Tuesday, said: “I will go back home and reunite with family. Thank you Hong Kongers.”

Philip Bowring, Mo’s husband, said she was calm on her return home and needed time to rest, local media reported.

Since large and sustained pro-democracy protests erupted in Hong Kong for most of 2019, China has cracked down on the democratic opposition as well as liberal civil society and media outlets under sweeping national security laws.

The 47 pro-democracy campaigners were arrested and charged in early 2021 with conspiracy to commit subversion under a Beijing-imposed national law which carried sentences of up to life in prison.

Forty-five of these were convicted following a marathon trial, with sentences of up to 10 years. Only two were acquitted.

All four had been denied bail since being charged and were remanded in custody for nearly two years before the trial kicked off in early 2023. All four had pleaded guilty, and were sentenced to four years and two months imprisonment.

Mo, Kwok and Tam were former members of the Civic Party, once one of Hong Kong’s leading pro-democracy parties, which was disbanded in early 2024 amid the national security crackdown.

Mo resigned from the Civic Party in 2016 and founded the localist group HK First with Fan of the Neo Democrats.

The democrats were found guilty of organizing an unofficial “primary election” in 2020 to select candidates for a legislative election. Prosecutors accused the activists of plotting to paralyze the government by engaging in potentially disruptive acts had they been elected.

Western governments including the US called the trial politically motivated and had demanded the democrats be freed.

Hong Kong and Beijing, however, say all are equal under the national security laws and the democrats received a fair trial.

This post appeared first on cnn.com

‘Never miss out on an opportunity like a recession’ — Jack Welch, former chairman and CEO of General Electric.

US President Donald Trump’s plans to overhaul the current global trade structure through sweeping tariffs have once again ignited recession fears. With both businesses and consumers considering pulling back on spending if costs rise, many economists are forecasting a higher risk of a deep economic downturn.

Goldman Sachs’ (NYSE:GS) seesaw recession predictions on April 9 are a clear indication that much remains unclear when it comes to the possible implications for the US economy. That day, the firm forecasted a GDP loss of 1 percent in 2025 and a 65 percent probability of a recession in the next 12 months.

However, within an hour, Trump announced a 90 day pause on his reciprocal tariffs and the group returned to its previous non-recession baseline forecast, with GDP growth of 0.5 percent and a 45 percent probability of recession.

Goldman Sachs isn’t alone in its reluctance to say a recession is in the cards. During an April 14 Fox Business interview, Bank of America (NYSE:BAC) CEO Brian Moynihan said his firm does not expect to see a recession in 2025, although he acknowledged that BoA did lower its GDP forecast for the year and that continued uncertainty around tariffs could change its outlook.

However, others believe the country has already entered a recession.

“I think we’re very close, if not in, a recession now,” Blackrock (NYSE:BLK) CEO Larry Fink told CNBC during an April 11 interview. “I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day pause on the reciprocal tariffs — that means longer, more elevated uncertainty.”

So — are we in a recession? Even though nailing down an answer is tricky, investors educate themselves on what a recession is, how long they last and what strategies may work well during these difficult economic periods.

In this article

    What is a recession?

    When a country’s economic activity experiences a serious and persistent decline over an extended period, often over two consecutive quarters, economists often call it a recession. Recessions involve a broad array of economic sectors, not just a decline among one or two industries.

    Some of the key indicators of a recession include rising unemployment levels, negative GDP, stock market selloffs and falling manufacturing data, as well as declining consumer confidence as evidenced by dropping retail sales.

    Answering the question of whether we’re in a recession is difficult because so many factors are at play — while one expert might weigh GDP declines heavily in their analysis, another might feel other elements are more important.

    Watch the video from mid-2023 below to get a sense of why getting a consensus on whether we’re in a recession can be tough.

    Experts Rick Rule, Adrian Day and Mike Larson explain why it’s hard to get an answer on whether the US is in a recession.

    What causes a recession?

    Forbes lists a number of catalysts that can spark a recession: sudden economic shock, excessive debt (think the US mortgage debt crisis that fueled the Great Recession in 2008), asset bubbles, uncontrolled inflation (which leads central banks to raise interest rates, making it more expensive to do business or pay down debts), runaway deflation and technological changes. Tariffs have also historically been linked with recession.

    How can tariffs cause a recession?

    Tariffs can cause a recession through a domino effect of increased costs, supply chain disruptions, inflationary pressures and investment uncertainty — all of which can bring about massive layoffs in critical sectors of the economy.

    Economic historians, such as Dr. Phillip Magness of the Independent Institute, have pointed to the worsening of the Great Depression following the passing of the Smoot-Hawley Tariff Act of 1930 as offering a potent warning about the potential outcome of the sweeping tariffs being enacted under US President Trump.

    Watch the video below to learn more about the potential for tariffs to spark a recession and why investors are looking to gold for safety.

    Magness said there’s still a chance to avoid a recession if Trump reverses course on his tariff policy.

    Are there signs before a recession?

    What are the telltale signs that warn of a recession in advance? Much like accurately forecasting the weather, making any sort of economic forecast is difficult. But there are certain signals economists look out for.

    Aside from the previously mentioned slumping GDP and falling copper prices, one of the most prominent harbingers of a looming recession is an inverted bond yield curve.

    “The bond market can help predict the direction of the economy and can be useful in crafting your investment strategy,” Investopedia states. “This metric — while not a guarantee of future economic behavior — has a strong track record.”

    In addition, declining unemployment figures, shrinking industrial output, falling retail sales and dramatic stock market selloffs are often considered classic indicators of a potential recession.

    Will there be a recession in 2025?

    Forecasting recessions can be tricky. There are extenuating circumstances that may allow for a reversal of fortunes before a deeper recession takes hold, but in the meantime many historical recession signals are currently flashing red.

    Newsweek has cited a number of US economists who identified five critical recession indicators on display, including declining consumer confidence, increasing credit card late payments and defaults, higher business and trade policy uncertainty, and rising inflation expectations.

    ‘The layoff cycle is indeed accelerating into 2025,’ she said. ‘The biggest determination of prices (for goods and services) that can or cannot be paid is what your paycheck is. What we’re seeing is average weekly earnings have stagnated starting in December, and have begun to fall on an inflation adjusted basis.’

    DiMartino Booth sees the central bank potentially cutting rates four to five times in 2025.

    Is Warren Buffett predicting a recession?

    Warren Buffett is not known for his direct forecasts. In fact, he’s likely to say, “Nothing is sure tomorrow, nothing is sure next year and nothing is ever sure, either in markets or in business forecasts, or in anything else.” For that reason, his investment decisions are often read like tea leaves by market watchers looking for signs on where to invest.

    So when the Oracle of Omaha called tariffs ‘an act of war to some degree’ during a March 2025 CBS interview, it was not a good sign. Market watchers will certainly be on the lookout for new clues when Buffet speaks to shareholders at Berkshire Hathaway’s (NYSE:BRK.A,NYSE:BRK.B) annual meeting in May.

    Another move by Buffett that’s being interpreted as a recession signal? Berkshire Hathaway’s decision to sell off of US$134 billion in equity positions in 2024 in order to beef up its cash holdings, which came in at a record US334 billion as of March 2025.

    How long do recessions last?

    Recessions are considered a part of the normal expansions and contractions of the business cycle.

    While not as catastrophic as depressions, recessions can last for several months and even years, with significant consequences for governments, companies, workers and investors. Each of the four global recessions since World War II lasted about one year.

    That said, there have been a few short-lived recessions in the US, including the 2020 pandemic recession. Stock markets around the world crashed at the onset of the COVID-19 outbreak. A record 20.5 million jobs were lost in the US alone in April 2020 as the nation’s unemployment rate reached 14.7 percent.

    The Fed responded by cutting interest rates, and the US federal government issued trillions of dollars in financial aid to laid-off workers and impacted businesses. By October 2020, US GDP was up 33.1 percent, marking an end to the recession.

    What sectors are hardest hit by a recession?

    Businesses often tighten their belts during recessions by postponing expansion plans, reducing worker hours and benefits or laying off employees. Those same workers are the consumers who play a vital role in the strength of a nation’s economic activity.

    With less disposable income, consumers stop spending on large appliances, vehicles, new homes, evenings out and vacations. The focus shifts to low-priced necessities, food and medical needs. Declining consumer spending and demand for goods and services pushes the economy into a deeper recession, resulting in more layoffs and rising unemployment. Small- and medium-sized business owners may even find themselves unable to operate entirely.

    Typically, retail, manufacturing, restaurants, technology, travel and entertainment are hit the hardest during a recession. The real estate and mortgage lending sectors may also feel the pain.

    As the recession worsens, some homeowners may not be able to pay their mortgages and could face defaults, which can bring further downward pressure on real estate prices. Those still shopping for a home or new car may find that banks have instituted much tighter lending policies on mortgages and car loans.

    Meanwhile, investors can lose money as their stock holdings and real estate assets lose their value. Retirement savings accounts linked to the stock market can also suffer.

    All of these forces can contribute to a deflationary environment that leads central banks to cut interest rates in an effort to stimulate the economy out of a recession.

    How to prepare for a recession?

    There is no perfect answer for how to invest during a recession, and no stock remains recession-proof. But for those who know how to practice due diligence through fundamental analysis, recessions do offer an opportunity to pick quality stocks at a discount.

    “The stock market is the only store where when things go on sale, everyone runs out the door. You don’t want to be one of those people,” said Shawn Cruz, head trading strategist at TD Ameritrade. “So if you have a long term focus and some specific names you’re looking at, this is a good time to pick up some quality shares for your portfolio.”

    It’s better to look at well-established publicly traded companies with strong balance sheets and minimal debt that still have the ability to generate cash and pay dividends. Companies to avoid include those with high debt loads and little cashflow, as they have a difficult time managing operating costs and debt payments during recessions.

    Danielle DiMartino Booth advises investors to watch the data closely if they want to stay ahead of the curve, particularly payroll levels, layoff announcements, bankruptcies and store closures.

    Industry matters, too. As mentioned, real estate, retail, manufacturing, restaurants, technology, travel and entertainment are hit the hardest during a recession. On the other hand, stocks in the consumer staples (food and beverage, household goods, alcohol and tobacco) and healthcare (biotech and pharmaceutical) sectors tend to do well in recessionary environments.

    Inventors can further mitigate the risks that a recession brings by building a diversified portfolio that considers stocks across varying sectors and geographic regions. Rather than investing in individual stocks, exchange-traded funds with low management fees are another way to spread risk. The Vanguard Consumer Staples ETF (ARCA:VDC) and the Consumer Staples Select Sector SPDR Fund (ARCA:XLP) are two examples to consider.

    Should I wait to invest until after a recession?

    This question brings us back to the quote from General Electric’s Welch that’s cited at the beginning of this article. For long-term investors who understand the popular adage, “buy low, sell high,” a recession and its impact on share prices offers up those ‘buy low’ opportunities. That’s because all things come to an end, even recessions, and when that happens those who bought the dip will be well positioned to benefit from the rebound.

    That said, due diligence never goes out of style. Not all companies will make it through a market downturn unscathed. To truly see returns from this investment strategy it’s critical to look for companies with strong balance sheets, experienced management and a history of performing well in bear markets. Opting for revenue-generating and dividend-paying stocks over growth stocks during a recession is another smart play.

    Overall, experts advise that it’s not necessary to avoid investing during a recession.

    “While (recessions) can be challenging for returns and growing wealth, we also see countercyclical rallies and the market is always forward-looking, so the keys are to remain fully invested, not be whipsawed by short-term market gyrations and to keep (focused) on your long-term goals,” Rajesh Nakadi, head of investments of the Global Family Office at BNY Mellon Wealth Management, told Forbes.

    Danielle DiMartino Booth advises investors to focus on companies’ ability to maintain dividends and cash flow during this period, meaning defensive plays that pay dividends and are able to increase their payrolls are a worth a look.

    What assets can hold their value in a deep recession?

    For long-term investors looking to ride out the worst recessions, stocks and high-yield bonds are best avoided. Safer assets that have historically performed well during recessions include government bonds, managed futures, gold and cash.

    It should be noted that while 10 year US Treasury bonds have an excellent reputation as a reliable safe haven asset, nothing is without risk. In early April 2025, following another round of tariffs announced by Trump, an unprecedented number of sellers, including foreign governments, ditched their US bond holdings, resulting in rising bond yields. Although yields fell a few days later, uncertainty in the bond market remains.

    “There is clearly still a lot of concern over this highly unusual rise in Treasury yields at a time of equity market weakness and global concern over recession,” said Douglas Porter, chief economist at Bank of Montreal. “Notably, the backup in yields was mostly driven by rising real yields and not higher inflation premiums … indicating a more fundamental drop in demand.”

    If you’ve parked your dollars in actual dollars, i.e. cash, instead of the stock market or bonds, the value is not being erased by declining stock prices. The ‘cash is king’ mantra speaks to the importance of keeping liquid assets on hand during a recession.

    Along that same vein, gold has earned its safe-haven status because it is a physical asset that holds its value and can be easily liquidated.

    One last thought — don’t move all your wealth into gold or cash. A diversified portfolio is still the best hedge against a recession.

    Which stocks do well after a recession?

    Once the economy is in the recovery stage and consumer confidence begins to improve, the best performing stocks in the market tend to be tied to the technology, financial, consumer discretionary, industrial, material and energy sectors.

    The consumer discretionary (i.e. cars and appliances), material and industrial segments “are known as cyclicals, because they are closely tied to the fortunes of the economy,” the Royal Bank of Canada (TSX:RY,NYSE:RY) states. The bank explains that once demand improves, manufacturers will begin using up their inventory and will in turn “need to order metal, chemicals and other materials to create more goods to sell.”

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

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    This post appeared first on investingnews.com

    Continuing his administration’s push toward reducing US reliance on Chinese mineral imports, President Donald Trump has signed a new executive order to fast track processes for deep-sea mining.

    The release highlights nickel, cobalt, copper, manganese, titanium and rare earths as strategic minerals key to both national security and economic prosperity, saying that deep-sea mining may provide increased access.

    The April 24 announcement from Trump came a day after Secretary of the Interior Doug Burgum outlined potential plans for the government to invest in US companies that mine and process critical minerals.

    Speaking at a conference put together by the Hamm Institute for American Energy, Burgum said there may be a need for “equity investment in each of these companies that’s taking on China in critical minerals.”

    He discussed a multifaceted strategy that could include the creation of a sovereign wealth fund, government-backed sovereign risk insurance and a national stockpile of critical minerals.

    “We should be taking some of our balance sheet and making investments,” Burgum told reporters last week. “Why wouldn’t the wealthiest country in the world have the biggest sovereign wealth fund?”

    What’s at stake for the US?

    These efforts to reposition America’s mineral supply chain come amid the country’s escalating trade war with China, which has tightened its grip on the global critical minerals market.

    Currently, China produces or refines a dominant share of 20 key raw materials used in essential technologies — from semiconductors and electric vehicle batteries to missile guidance systems and wind turbines.

    According to the US Geological Survey, the US was 100 percent reliant on imports for 15 critical minerals in 2024, and approximately 70 percent of its rare earths came from China the year before.

    China’s latest retaliation — a new wave of export controls on rare earth elements in response to US tariffs — has only intensified concerns about supply chain vulnerability.

    “We have to get back in the game,” Burgum urged in the same conference.

    “It’s not just drill, baby, drill. It’s mine, baby, mine. If we don’t do that as a country, we will not be successful. We will literally be at the mercy of others that are controlling our supply chains.”

    Building a domestic safety net for America

    To offset both economic and geopolitical risks, Burgum laid out three key proposals under consideration:

    1. Sovereign wealth fund — A mechanism to allow the US to take equity stakes in domestic mining and processing firms, particularly those struggling to compete with Chinese state-backed entities.
    2. Sovereign risk insurance — A federal insurance program to reimburse companies in the event that a future administration cancels approved projects.

    Burgum asserted that the three combined would put the US “in the game around critical minerals,” and said the administration is currently “working on all three.”

    Opening the ocean floor to mining

    Trump’s executive order directs federal agencies to expedite permitting under the Deep Seabed Hard Mineral Resources Act and the Outer Continental Shelf Lands Act. In addition to that, it instructs agencies to identify mineral-rich regions, facilitate exploration and map seabed areas for priority development.

    Notably, the move bypasses the ongoing regulatory negotiations at the International Seabed Authority (ISA), a United Nations body tasked with setting global standards for ocean floor mining.

    “The United States has a core national security and economic interest in maintaining leadership in deep sea science and technology and seabed mineral resources,” Trump states in the order.

    Officials say US waters hold over 1 billion metric tons of seabed mineral deposits, including copper, cobalt, manganese and nickel — essential materials for renewable energy technologies and military applications.

    However, the move has been met with sharp criticism from environmental groups and international regulators, which have long warned of the untested ecological risks of deep-sea mining.

    “We condemn this administration’s attempt to launch this destructive industry on the high seas in the Pacific by bypassing the United Nations process,” said Greenpeace USA’s Arlo Hemphill in a statement.

    “This is an insult to multilateralism and a slap in the face to all the countries and millions of people around the world who oppose this dangerous industry,’ he continues in the April 25 release.

    The ISA, created under the 1982 United Nations Convention on the Law of the Sea — which the US has not ratified — has been working to establish a regulatory framework before any commercial deep-sea mining begins.

    It is still deliberating rules on how to balance environmental concerns with mineral exploitation, with ISA Secretary-General Leticia Carvalho expressing hope that a global consensus can be reached by the end of 2025.

    Mining companies mobilize amid US critical minerals push

    Mining and energy companies are moving swiftly to capitalize on the Trump administration’s push to expand domestic production of rare earths and other critical minerals.

    MP Materials (NYSE:MP), the operator of the only active rare earths mine in the US, reported a surge in interest from manufacturers after China imposed new export restrictions. The company has halted shipments of unprocessed ore to China, citing steep tariffs, and is ramping up efforts to process materials domestically.

    NioCorp Developments (NASDAQ:NB) has welcomed the White House’s call to streamline permitting, which coincides with its plans to accelerate its Nebraska-based Elk Creek critical minerals project.

    In the lithium space, oil giants like ExxonMobil (NYSE:XOM) and Occidental Petroleum (NYSE:OXY) are clashing over production rights in Arkansas’ Smackover Formation, one of the country’s richest potential lithium sources.

    Exxon subsidiary Saltwerx recently won regulatory approval to develop a 56,000 acre lithium unit, a move it said could unlock the domestic industry and bolster US energy security.

    At sea, The Metals Company (NASDAQ:TMC) is seeking permits under a decades-old US law to mine polymetallic nodules from the Pacific seabed, pointing to renewed political will.

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

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    This post appeared first on investingnews.com

    Canada’s Liberal Party is projected to win the country’s federal election for the fourth consecutive time.

    The Liberals are led by Canadian Prime Minister Mark Carney, who took over after Justin Trudeau resigned.

    As of late Monday, the Liberal Party was also leading with 137 seats won in Parliament as opposed to the 98 seats held by the Conservative Party.

    A party needs to win 172 seats in order to hold the majority.
     

    This is a breaking news story. Check back for updates.

    This post appeared first on FOX NEWS

    Canada’s Liberal Party, led by Prime Minister Mark Carney, is on course to win the country’s federal election, Canadian media projects, following a campaign overshadowed by provocations and tariffs from US President Donald Trump.

    With votes still being counted, CBC News said it is too soon to say whether it will be a minority or majority government – a party needs 172 seats to form a majority.

    Canada’s uneasy relationship with the United States deeply influenced the tenor of this year’s campaign. Trump’s tariffs against Canadian exports pose a grave threat to the country’s economy, and his threats to annex Canada as “the 51st state” have enraged Canadians of every political persuasion.

    “I reject any attempts to weaken Canada, to wear us down, to break us so that America can own us,” Carney told reporters in late March. “We are masters in our own home.”

    Though Canadians have a diverse array of parties to choose from on their federal ballots, the main contest is between the incumbent Liberals, led by Carney since March, and the Conservative opposition, led by longtime parliamentarian Pierre Poilievre.

    Carney, a former banker, became prime minister in March after his predecessor Justin Trudeau resigned from office in the wake of dire polls that suggested a stunning loss to come in a federal election.

    Trudeau announced his plan to resign in January while facing grim polling figures, a serious cost of living crisis and an internal revolt in his cabinet.

    The numbers began to shift in the Liberals’ favor as Trudeau hit back against US tariffs during his last days in office. After winning the party leadership contest in a landslide, Carney continued to spearhead Canada’s opposition to Trump’s annexation threats and trade war.

    Carney had never held political office before becoming prime minister. The former central banker touted his experience shepherding Canada’s economy through the 2008 financial crisis and Britain through Brexit, to appeal to Canadians seeking solace from the gloomy economic headwinds caused by the storm of tariffs announced by the White House.

    The idea that Canada needs to forge its own path outside of US influence has been central to the prime minister’s messaging since he took office.

    Carney pitched himself throughout the campaign as an experienced professional from the political center who can steward Canada’s economy through a period of profound turbulence.

    “I understand how the world works,” Carney told podcaster Nate Erskine-Smith in October. “I know people who run some of the world’s largest companies and understand how they work. I know how financial institutions work. I know how markets work … I’m trying to apply that to the benefit of Canada.”

    Carney has pledged to “build things in this country again” to make Canada less reliant on the US: new homes, new factories, and new sources of “clean and conventional energy.”

    “My solemn promise is to stand up for Canadian workers, to stand up for Canadian businesses,” Carney said in March. “We will stand up for our history, our values and our sovereignty.”

    This is a developing story and will be updated.

    This post appeared first on cnn.com