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OTTAWA- In a dramatic reversal, the governing Liberals, who were trailing the official opposition Conservatives in the polls earlier this year, appear poised to win their fourth consecutive term in office thanks to President Donald Trump’s threats against Canada’s economy and sovereignty, according to election watchers.

‘It looks like there will be a Liberal government, which seems to be what the polls point to, and it would be a very big surprise if the Conservatives won,’ Angus Reid, founder and chair of the Angus Reid Institute, told Fox News Digital.

In an Angus Reid Institute poll released on Dec. 30, the Conservatives were in super-majority territory with 45% support, compared to the Liberals at 11%. The results of a poll released on Saturday had the Liberals at 44% with a four-point lead over the Conservatives at 40%.

‘This really has been an extraordinary election in that, by all rights, Canadians had it with the Liberals’ woke policies and with their misspending and didn’t like Trudeau,’ Reid said.

He explained that the political dynamic changed when Justin Trudeau announced his resignation as Canada’s 23rd prime minister and Trump was inaugurated as the 47th president in January, and former central bank governor Mark Carney succeeded Trudeau as prime minister and Liberal leader in March.

‘Between tariffs and threats of annexation, Trump became the single most important issue in the country overnight,’ said Reid. ‘That gave Mark Carney an opportunity to be the first out of the gate to say that we’re not going to put up with this – we’re a sovereign nation and we’re going to fight.’

The campaign has been a two-party race between the Liberals and Conservatives and led by two starkly different leaders who focused on strengths that their critics considered weaknesses.

Carney, a 60-year-old former senior executive at Goldman Sachs who never held elected office prior to winning the Liberal leadership, has called on voters to consider – during a time of economic crisis fueled by Trump’s threats – his experience, which includes running the central banks of Canada and England, and as the United Nations Special Envoy for Climate Action and Finance. 

His detractors, however, have accused him of being out of touch and ‘not connected to the common man’ and has spent a fair amount of time outside Canada, as a former deputy national Conservative Party campaign manager told Fox News Digital last month.

Meanwhile, Poilievre’s message to voters is that he is the agent for ‘change.’ However, his opponents claim the 45-year-old Conservative leader is part of the political establishment, having spent almost half of his life as a member of Parliament since he was first elected in 2004 – and the change he touts came with a shift in Liberal leadership from Trudeau to Carney.

The results of an Ipsos poll conducted for Global News in Canada, released on April 21, showed a narrow three-point lead for the Liberals at 41% over the Conservatives at 38%. 

Darrell Bricker, CEO of Ipsos Global Public Affairs, told Fox News Digital that the Liberals were ahead of the Conservatives by 12 points in mid-April and have lost ground since ‘because of the effect of Donald Trump, both positive and negative.’

‘When Donald Trump is in the news saying 51st-state stuff, that brings the focus back to the major issue that the Liberals lead on, which is dealing with him,’ said Bricker.

‘But over the past two weeks, Donald Trump has kind of gone dark on Canada. He’s been focused on China, U.S. government funding of Harvard University, and to the extent he’s talking about trade, it’s about global trade deals.’

That, said Bricker, has resulted in many Canadians returning to their pre-Trump main issue of affordability, through the lens of the Liberals running the government over the past decade.

Ultimately, the outcome of Monday’s general election will be decided by geography, according to Bricker, whosaid that the national vote ‘will be won or lost’ in Ontario, particularly in Toronto and the surrounding so-called 905 region, which refers to the telephone area code, where there are 55 ridings (electoral districts) and about 4.5 million eligible voters.

‘The 905 voted overwhelmingly for Justin Trudeau’s Liberals three times,’ said Bricker. ‘If they do it again, the Liberals will win a fourth consecutive term in office.’

Last week, Carney said if he remains prime minister following the election that he would have a meeting with Trump ‘within days’ as part of an ‘ambitious and broad-ranging discussion’ on a new trade and security deal between Canada and the U.S.

Reid said that the Liberals’ improved showing was not just about Canadians warming to Carney, but also about Conservative Leader Pierre Poilievre’s failure to turn the dial from focusing on a consumer carbon tax, which the Liberal leader canceled on April 1 in his first act as prime minister, and ‘still reflecting on Trudeau long after he had gone, instead of jumping right away onto the Trump threat and becoming something that he would lead the charge on.’

The irony, in Reid’s view, is that ‘Trump imperiled the campaign of an individual who could be in many ways his stepbrother in Canada,’ he said about Poilievre, who he called ‘mini-Trump,’ and his ‘anti-woke,’ smaller-government stance – ‘Trump-esque policies that the American right might want to see in Canada and certainly a lot of Canadians on the right want to see.’

According to Elections Canada, a record 7.3 million Canadians cast their ballots in advance polls over the Easter weekend. With the country having six time zones, the results aren’t expected to be known until late Monday evening.

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President Donald Trump and Elon Musk’s Department of Government Efficiency have been aggressively overhauling the bloated and cumbersome U.S. federal bureaucracy by re-examining contracts, questioning what taxpayer dollars are funding and who that funding is going to. 

The public health sector hasn’t been immune, with the Trump administration poring over the layers of bureaucracy and freezing or canceling millions in grants. Countless programs within the Department of Health and Human Services (HHS), including those designed to target the treatment and spread of HIV/AIDS, are, or will be, in the crosshairs.

As a former White House director of national AIDS policy who was one of the chief architects of the President’s Emergency Plan for AIDS Relief (PEPFAR), the first director of the HIV/AIDS Bureau at the Health Resources and Services Administration (HRSA), and as an LGBT conservative with a career in medicine, business, and public health, I believe HIV/AIDS advocates should embrace and support such a review. 

While it is critical that the United States’ demonstrably effective long-standing strategy tackling the HIV/AIDS epidemic, and the resources dedicated to it, remain intact, many of these federal programs have not been re-evaluated in years, nor have they been audited for waste, fraud or abuse. 

Advocates in support of maintaining the United States’ aggressive approach to the HIV/AIDS epidemic should welcome the review of HIV/AIDS specific initiatives to ensure that they are optimally designed to meet the needs of the current epidemic.

Take the Ryan White CARE Act, for example, which funds essential healthcare services for uninsured and underinsured individuals living with HIV/AIDS in the U.S. The program, which received $2.5 billion in federal funding in FY 2024, hasn’t been reauthorized by Congress since 2009. In that time, the expansion of healthcare coverage through Medicaid substantially reduced the number of people who needed Ryan White support for medical care and pharmaceuticals, yet its budget continued to grow. 

A reauthorization process would allow for a close look at spending priorities embedded in Ryan White – an initiative that was designed before highly effective HIV/AIDS therapy was even available. Surely, the HIV/AIDS community would do well to see if that funding might be better reallocated elsewhere, such as toward substance abuse and mental health services, or other needed care. 

DOGE can also remedy unnecessary bureaucratic overlap. The Ryan White program is run through the HRSA, and the Ending the HIV Epidemic initiative, started by Trump during his first term, is run through the Centers for Disease Control and Prevention (CDC). Despite the programs’ complementary missions, they are siloed off into separate entities with their own budgets and staff, resulting in unnecessary administrative overhead costs and potentially wasteful spending. 

The Trump administration is reportedly looking to streamline these two initiatives into one program run through the HRSA to consolidate the resources and make them more efficient. Advocates for a strong public health response to HIV/AIDS should be open to considering these kinds of commonsense reforms and not wringing their hands or fearmongering to voters.

DOGE unveils website enabling American people to suggest deregulations

While efficiency is needed, it would be a grave mistake to deprioritize funding for the HIV/AIDS epidemic as national policy. While new cases of the disease are on the decline in the U.S. due to advances in treatment and prevention efforts, data has shown that cutting those efforts leads to spikes in new infections, which in turn burden the healthcare system with costlier care and treatments down the line. 

Another critical pillar of the U.S. approach to the epidemic is PEPFAR, which funds HIV/AIDS prevention, treatment, and care globally. PEPFAR’s value is not only as a cost-effective success in saving millions of lives but also as a means of exerting significant diplomatic influence with dozens of partner nations. 

Secretary of State Marco Rubio granted PEPFAR a waiver from the initial suspension of global health initiatives in the first days of the Trump administration. That does not mean that PEPFAR should be immune from an audit for inefficiency. 

Like all federal programs, there must be improvements that can be made and waste that can be cut. PEPFAR’s strategy and tactics, however, are undeniably working with an incredible return on investment. Keeping the program efficiently funded should be a bipartisan priority.

It’s easy to panic over reports of specific cuts or reorganizations to HIV/AIDS programs. Opponents of the Trump administration have every reason to fearmonger around the issue, as federal funding for prevention efforts is generally popular. 

But, if we genuinely care about the fight against HIV/AIDS, we must recognize that these programs, like the federal government itself, are not perfect. These HIV/AIDS programs are long overdue for auditing, evaluation and perhaps reorganization, and as long as our commitment to fighting the disease remains intact, the United States’ efforts will be stronger for it.

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Speaker Mike Johnson, R-La., said President Donald Trump has accomplished more in the first 100 days of his tenure than ‘most politicians or presidents accomplish in their entire lifetimes.’

The top House Republican said this first period of a new GOP trifecta in government has been a ‘flurry of activity’ used to set the stage for the party’s plans to pass a massive piece of legislation setting up Trump’s priorities on defense, taxes, energy and the border.

‘o much of what we’ve done is leading up to the big reconciliation bill, and that is the legislative vehicle, as I’ve explained to people, it will help us, through which we will deliver the president’s America First agenda,’ Johnson told Fox News Digital.

‘We’ve done it with arguably the smallest margin in the history of the Congress, so challenges every day, but it’s been very rewarding to lead us through that.’

He noted that Trump and Congress had worked together on passing the Laken Riley Act, and on keeping transgender women out of biological women’s spaces.

But the speaker also acknowledged that Trump has acted quite a bit on his own, as well.

‘He’s issued, I think, 110 executive orders and many other executive actions. And we’ve been working to codify so much of that. It’s been kind of a partnership,’ Johnson said.

But not everyone views it as equal. Democrats have accused Republicans of acquiescing power to Trump on issues ranging from tariffs to government funding.

‘I don’t think we’ve ceded any authority. I think that he’s doing what is within his scope to do. There’s an assumption made by Congress that the administration, whoever is in the administration, will use the money that is appropriated to the executive branch as a good steward, that they will take every measure possible to prevent fraud, waste and abuse,’ Johnson said. 

‘And tariffs as well – the president, whomever is president, has a responsibility and I think an expectation from Congress that they will deal with unfair trade partners around the globe.’

He also pointed out that a significant number of Trump’s orders have targeted Biden administration actions or policies that were similarly enacted without Congress.

‘I don’t think the president has engaged in executive overreach,’ Johnson said. ‘So much of what he’s done by executive order is reversing executive orders of his predecessor. So, it looks like he’s doing a lot, but he’s unwinding the damage done by the previous occupant of the Oval Office. So, he certainly has latitude to do that.’

But Johnson, a former constitutional law attorney who styled himself ‘a jealous guardian of Article I,’ vowed he would raise his concerns with Trump if he ever felt Congress’ power was being infringed. 

‘I don’t think he’s crossed the line yet. If he does, or if he did, you know, I would address it with him personally as a concern, as a partner, and explain that I think it’s been overdone,’ he said.

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(TheNewswire)

Silver Crown Royalties

Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( ‘Silver Crown’ ‘SCRi’ the ‘Corporation’ or the ‘Company’ ) is pleased to announce that the Company has successfully closed the third and final tranche (‘ Final Tranche ‘) of its non-brokered offering of units ( ‘Units’ ) that was previously announced on February 6, 2025 (the ‘Offering’ ) and issued 89,400 Units at a price of C$6.50 per Unit, for gross proceeds of approximately C$581,100

Each Unit consists of one common share ( ‘Common Share’ ) and one Common Share purchase warrant ( ‘Warrant’ ), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. A total of 232,248 Units were issued in accordance with the Offering for cumulative gross proceeds of C$1,509,615.

The proceeds from the Final Tranche will be used to partially fund the second tranche of the Company’s silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc.

Regarding the receipt of payments from the Company’s producing royalties, Silver Crown expects to receive cash payments equivalent to approximately 6,703 ounces of silver in the first quarter of 2025. This is driven by the early payment of the PPX/Igor 4 royalty as well as payments under the Elk Gold Royalty.

ABOUT Silver Crown Royalties INC.

Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:

Silver Crown Royalties Inc.

Peter Bures, Chairman and CEO

Telephone: (416) 481-1744

Email: pbures@silvercrownroyalties.com

FORWARD-LOOKING STATEMENTS

This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the proceeds from the Final Tranche will be used to partially fund the second tranche of the Company’s silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Chinese leader Xi Jinping has not spoken to US President Donald Trump on the phone recently, Beijing said Monday, reiterating that no talks are taking place between the two countries to resolve their tariff war.

The statement from a Chinese Ministry of Foreign Affairs spokesperson is an outright rejection of Trump’s claim in an interview with Time magazine last week that Xi had called him, as the world’s two largest economies remain locked in a dispute over sky-high trade levies.

“As far as I know, there has been no recent phone call between the two heads of state,” Guo Jiakun told a regular news conference. “I want to reiterate that China and the United States are not engaged in consultations or negotiations on the tariff issue.”

China has maintained its tough public stance on the trade war even as Trump softened his tone last week, saying that astronomical US tariffs on Chinese goods will “come down substantially” and promising to be “very nice” at the negotiating table as he attempts to get Xi to initiate talks.

“He’s called. And I don’t think that’s a sign of weakness on his behalf,” Trump said, referring to Xi, in the Time interview published on Friday.

According to publicly available records, the last time the two leaders spoke by phone was on January 17, days before Trump’s inauguration for his second term.

Since last week, Trump has repeatedly said that his administration is talking with Chinese officials to strike a trade deal – only to be met with flat denials from Beijing each time.

On Friday, hours before Trump’s interview with Time was published, China’s Foreign Ministry urged the US not to “mislead the public” on trade negotiations between the two sides.

Trump’s apparent willingness to deescalate the trade war has been brushed off by Beijing, which has instead demanded the US remove all tariffs on China.

Since returning to the White House, Trump has imposed levies of 145% on Chinese goods, though he exempted imports of electronics such as smartphones and computers from his so-called “reciprocal” tariffs.

China has raised tariffs on US imports to 125%, but it has also quietly rolled back the levies on some semiconductors made in the United States, according to import agencies, as Beijing tries to soften the blow of the trade war on its all-important tech industry.

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China and the Philippines have each unfurled their national flags on tiny sandbars in the South China Sea, staking competing sovereignty claims in strategic waters seen as a potential flashpoint for global conflict.

The rival photo opportunities unfolded on Sandy Cay, a string of three uninhabited sandbars which lie near a Philippine military outpost in the disputed Spratly Islands.

The release of the images comes as US and Philippine forces hold their largest-ever annual joint military drills in nearby waters – and just weeks after US Defense Secretary Pete Hegseth vowed to enhance America’s military alliance with the Philippines to “reestablish deterrence” to counter “China’s aggression” in the region – during his first trip to Asia.

Bracketed by China and several Southeast Asian nations, parts of the vital South China Sea are claimed by multiple governments, but Beijing has asserted ownership over almost all of the waterway, in defiance of an international court ruling.

Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports.

The public relations wrestling match over Sandy Cay risks further stoking long-running tensions between the Philippines and China. It also poses a key test to the Trump administration on how it will respond, especially as key cabinet officials have repeatedly emphasized the need for the US to focus its attention and resources on countering China’s ambitions in the Indo-Pacific region.

Competing claims

The latest maritime dispute surfaced last week, when China’s state-controlled media claimed that China Coast Guard “implemented maritime control” and “exercised sovereign jurisdiction” over Tiexian Reef – the Chinese name for Sandy Cay – in mid-April.

A photo aired on China’s state broadcaster Saturday showed four Chinese officers in black uniforms walking along the white sandbar as a fifth officer held an inflatable boat by the water. Another photo showed four officers holding up a Chinese flag in what the broadcaster described as “a show of sovereignty.”

“China Coast Guard officers landed on Tiexian Reef to conduct patrols and recorded video evidence of the illegal activities carried out by the Philippine side,” said the state broadcaster CCTV. It added that the officers also cleaned up leftover plastic bottles, wooden sticks and other debris on the reef.

The Philippines was quick to unleash its own publicity move in response, sending teams to multiple sandbars.

On Sunday, a spokesperson for the Philippines Coast Guard said the country’s navy, coast guard and police deployed four teams in rubber boats to Pag-asa Cay 1, Cay 2 and Cay 3 – names the Philippines uses to refer to Sandy Cay.

During the inter-agency operation, the officers “observed the illegal presence” of a nearby China Coast Guard vessel and seven Chinese maritime militia vessels.

An image posted by Philippines Coast Guard spokesperson, Jay Tarriela, on X showed five officers holding the national flag on a white sandbar.

In a statement late on Sunday night, a spokesperson for the China Coast Guard said six personnel from the Philippines had “illegally landed” on the Tiexian Reef despite “warnings and dissuasion” from the Chinese side.

“China Coast Guard law enforcement officers then boarded the reef to verify and deal with the situation in accordance with the law,” spokesperson Liu Dejun said, urging the Philippines to “immediately stop its infringement.”

At a press conference Monday, Tarriela said each team had brought with them a Philippine flag to pose for photos on the sandbars on early Sunday morning.

“The other objective of our operation is to check whether the Chinese government installed different infrastructure or monitoring devices or whatsoever,” Tarriela told reporters.

“(From) the photos and videos we have already, we can totally debunk the lie and disinformation the People’s Republic of China that they have already occupied the Pag-asa cays.”

Military alliance

Confrontations between China and the Philippines in the contested waters have become increasingly fraught in recent years, fueling fears of a global conflict that could drag in the US, a mutual defense ally of Manila.

Sandy Cay lie near Thitu Island, known as Pag-asa Island by Manila and the site of a Philippines military facility. In 2023, Manila opened a coast guard monitoring base there to counter what it called Chinese aggression in the vital waterway.

Under the Biden administration, US officials repeatedly assured the Philippine that the US would come to its defense if attacked in the South China Sea.

US President Donald Trump is a more mercurial figure who has long viewed historical US agreements through a more mercantile lens and has called for allies to pay more for protection.

But Trump’s cabinet contains vocal China hawks, notably Hegseth and Secretary of State Marco Rubio, who have both spoken publicly on needing to push back against China’s growing assertiveness in the South China Sea.

On April 21, the US and the Philippines kicked off their annual Balikatan – meaning “shoulder to shoulder” – military exercises, which are expected to run for three weeks and have grown in scale each year.

This year, the US military has deployed an anti-ship missile launcher for the first time on the northern tip of the Philippine archipelago, just across the strait from Taiwan, a self-governing democracy Beijing has vowed to take by force if necessary.

The Philippines also hosted Japanese forces as full-fledged participants for the first time as party of the multinational military drills, a sign of strengthening security cooperation between Manila and Tokyo.

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Yemen’s Houthi rebels on Monday alleged a US airstrike hit a prison holding African migrants, killing at least 68 people and wounding 47 others. The US military had no immediate comment.

The strike in Yemen’s Saada governorate, a stronghold for the Houthis, is the latest incident in the country’s decadelong war to kill African migrants from Ethiopia and other nations who risk crossing the nation for a chance to work in neighboring Saudi Arabia.

It also likely will renew questions from activists about the American campaign, known as “Operation Rough Rider,” which has been targeting the rebels as the Trump administration negotiates with their main benefactor, Iran, over Tehran’s rapidly advancing nuclear program.

The US military’s Central Command, in a statement early Monday before news of the alleged strike broke, sought to defend its policy of offering no specific details of its extensive airstrike campaign. The strikes have drawn controversy in America over Defense Secretary Pete Hegseth’s use of the unclassified Signal messaging app to post sensitive details about the attacks.

“To preserve operational security, we have intentionally limited disclosing details of our ongoing or future operations,” Central Command said. “We are very deliberate in our operational approach, but will not reveal specifics about what we’ve done or what we will do.”

It did not immediately respond to questions from The Associated Press about the alleged strike in Saada.

Graphic footage shows aftermath

Graphic footage aired by the Houthis’ al-Masirah satellite news channel showed what appeared to be dead bodies and others wounded at the site. The Houthi-run Interior Ministry said some 115 migrants had been detained at the site.

The rebels’ Civil Defense organization said at least 68 people had been killed and 47 others wounded in the attack.

Footage from the site analyzed by the AP suggested some kind of explosion took place there, with its cement walls seemingly peppered by debris fragments and the wounds suffered by those there.

A woman’s voice, soft in the footage, can be heard repeating the start of a prayer in Arabic: “In the name of God.” An occasional gunshot rang out as medics sought to help those wounded.

African migrants caught in middle

Ethiopians and other African migrants for years have landed in Yemen, braving the war-torn nation to try and reach Saudi Arabia for work. The Houthi rebels allegedly make tens of thousands of dollars a week smuggling migrants over the border.

Migrants from Ethiopia have found themselves detained, abused and even killed in Saudi Arabia and Yemen during the war. An Oct. 3, 2022, letter to the kingdom from the U.N. said its investigators “received concerning allegations of cross-border artillery shelling and small arms fire allegedly by Saudi security forces, causing the deaths of up to 430 and injuring 650 migrants.”

Saudi Arabia has denied killing migrants.

Monday’s alleged strike recalled a similar strike by a Saudi-led coalition battling the Houthis back in 2022 on the same compound, which caused a collapse killing 66 detainees and wounding 113 others, a United Nations report later said. The Houthis shot dead 16 detainees who fled after the strike and wounded another 50, the U.N. said. The Saudi-led coalition sought to justify the strike by saying the Houthis built and launched drones there, but the U.N. said it was known to be a detention facility.

“The coalition should have avoided any attack on that facility,” the U.N. report added.

That 2022 attack was one of the deadliest single attacks in the years long war between the coalition and the Houthi rebels and came after the Houthis struck inside the UAE twice with missiles and drones, killing three in a strike near Abu Dhabi’s international airport.

US military: 800 strikes conducted so far

Meanwhile, US airstrikes overnight targeting Yemen’s capital killed at least eight people, the Houthis said. The American military acknowledged carrying out over 800 individual strikes in their monthlong campaign.

The overnight statement from Central Command also said “Operation Rough Rider” had “killed hundreds of Houthi fighters and numerous Houthi leaders,” including those associated with its missile and drone program. It did not identify any of those officials.

“Iran undoubtedly continues to provide support to the Houthis,” the statement said. “The Houthis can only continue to attack our forces with the backing of the Iranian regime.”

“We will continue to ratchet up the pressure until the objective is met, which remains the restoration of freedom of navigation and American deterrence in the region,” it added.

The US is targeting the Houthis because of the group’s attacks on shipping in the Red Sea, a crucial global trade route, and on Israel. The Houthis are also the last militant group in Iran’s self-described “Axis of Resistance” that is capable of regularly attacking Israel.

US discusses deadly port strike

The US is conducting strikes on Yemen from its two aircraft carriers in the region — the USS Harry S. Truman in the Red Sea and the USS Carl Vinson in the Arabian Sea.

On April 18, an American strike on the Ras Isa fuel port killed at least 74 people and wounded 171 others in the deadliest-known attack of the American campaign. Central Command on Monday offered an explanation for why it hit the port.

“US strikes destroyed the ability of Ras Isa Port to accept fuel, which will begin to impact Houthi ability to not only conduct operations, but also to generate millions of dollars in revenue for their terror activities,” it said.

Meanwhile, the Houthis have increasingly sought to control the flow of information from the territory they hold to the outside world. It issued a notice Sunday that all those holding Starlink satellite internet receivers should “quickly hand over” the devices to authorities.

“A field campaign will be implemented in coordination with the security authorities to arrest anyone who sells, trades, uses, operates, installs or possesses these prohibited terminals,” the Houthis warned.

Starlink terminals have been crucial for Ukraine in fighting Russia’s full-scale invasion and receivers also have been smuggled into Iran amid unrest there.

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The American economy may be heading toward stagflation, an environment characterized by high inflation, slowing growth and rising unemployment, US Federal Reserve Chair Jerome Powell cautioned earlier this month.

‘Unemployment is likely to go up as the economy slows in all likelihood, and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public,’ Powell said during an April 15 appearance in Chicago.

While he was careful not to use the word ‘stagflation,’ experts have pointed out that the circumstances Powell outlined correspond with its definition, thrusting the term back into public discourse.

But what exactly is stagflation, and why is it such a concern for investors? Read on to find out.

What is stagflation?

Stagflation describes the economic scenario where inflation remains high even as economic growth slows and unemployment rises. Stagflation is a rare occurrence, and contradicts the foundational economic belief that inflation typically rises during economic booms and falls during recessions.

The term was coined by British politician Iain Macleod in 1965 and became infamous during the 1970s oil crisis, when a dramatic spike in oil prices triggered both rising costs and shrinking output across much of the global economy.

In simple terms, stagflation means you’re paying more for everything while earning less; at the same time, finding a new job, or even keeping your current one, becomes more difficult.

The misery index, created to measure such bleak periods, adds the unemployment rate to the inflation rate. During the worst of the 1970s, it exceeded 20. As of March 25, 2025, it stood at around 6.6, with inflation at 2.4 percent and unemployment at 4.2 percent. Many economists fear that number could rise quickly if current trends continue.

Why are experts sounding the alarm on stagflation?

A combination of geopolitical shocks, fragile supply chains and new economic policies — particularly a sweeping series of tariffs enacted by the Trump administration — has created a perfect storm, economists say.

The tariffs include a 10 percent universal tax on all imports, up to 25 percent duties on goods from Canada and Mexico and a staggering 245 percent tariff on imports from China. These are not minor adjustments — they are foundational changes to the pricing structure of the US consumer and business marketplace.

‘The level of the tariff increases announced so far is significantly larger than anticipated,’ Powell said in a written statement from his Chicago appearance that was published on April 16. ‘The same is likely to be true of the economic effects, which will include higher inflation and slower growth.’

In other words, the tariffs act as a supply shock: They make it more expensive to bring goods into the country, which businesses pass on to consumers through price hikes. At the same time, higher costs can lead companies to cut back on investment and hiring, slowing the economy and increasing job losses.

“The Trump White House tariff policy has certainly increased the risk of both higher inflation and lower growth,” Brett House, professor of professional practice in economics at Columbia Business School, told CNBC.

To better understand what’s at stake, economists are looking at the 1970s — a decade that was marked by an oil embargo, skyrocketing prices and stagnant economic activity.

In response, then-Fed Chair Paul Volcker aggressively hiked interest rates, with the federal funds rate peaking at nearly 21 percent in 1981. The move ultimately tamed inflation, but plunged the country into two recessions.

That painful cure became the playbook for handling runaway prices, with central banks committing to maintaining credibility and acting decisively, even at the cost of job losses.

“The Fed’s credibility in keeping inflation low and stable, won over decades, kept longer-term inflation expectations stable,” Fed Governor Adriana D. Kugler said in a recent statement.

Still, today’s economic landscape differs from the 1970s in critical ways. The US is no longer as dependent on foreign oil. And labor unions, once a powerful driver of wage spirals, now represent a smaller portion of the workforce.

However, these differences might not offer much protection. While oil prices are less of a concern today, tariff-induced uncertainty could have a similar chilling effect.

How does stagflation impact everyday life?

For most people, stagflation translates into economic whiplash.

Essentially, prices go up, wages don’t keep pace and job security becomes tenuous. According to Forbes, a rising misery index would create a whole new roster of challenges for the everyday person.

To illustrate, people will likely have to spend more to get the same quantity of food, clothes and gas. Employees’ chances of getting laid off or working fewer hours will increase. For recent college graduates, the job market could become especially brutal. For families, the cost of borrowing — whether to buy a home, finance a car or use a credit card — could rise steeply if the Fed chooses to raise interest rates to combat inflation.

Diane Swonk, chief economist at KPMG, described today’s environment as having a “whiff of stagflation,” where people feel less secure about their financial future, even if the economic statistics haven’t fully caught up to the sentiment.

Is stagflation a certainty?

Not all economists agree that stagflation is inevitable, or that it will reach the same severity as in the 1970s.

Still, concerns are growing. Michael Feroli, JPMorgan Chase & Co.’s (NYSE:JPM) chief US economist, issued a warning earlier this month, stating the bank now expects a recession in 2025.

He predicts unemployment will rise to 5.3 percent, while a core measure of inflation will reach 4.4 percent, which he described as a “stagflationary forecast.”

KPMG also projects a shallow recession, with inflation peaking at the end of the third quarter. But even a modest downturn could be painful for vulnerable workers and households already stretched thin by pandemic-era economic disruptions and the fading buffer of savings built up during that time.

What does stagflation mean for investors?

Stagflation presents a complex and often discouraging landscape for investors.

Unlike recessions, where bonds tend to do well as interest rates fall, stagflation often erodes the value of both stocks and bonds. In such periods, equities can suffer from declining corporate profits due to rising input costs, as well as weakening consumer demand, creating varied headwinds for the stock market.

At the same time, high inflation erodes the real value of future earnings, often leading to downward pressure on stock prices, particularly for growth-oriented companies whose valuations depend heavily on projected future cashflow.

Bonds, too, become vulnerable. Inflation eats into the fixed income stream provided by bonds, especially longer-term bonds. As inflation rises, the purchasing power of interest payments declines, and yields on newly issued bonds increase to compensate investors, driving down the market value of existing lower-yield bonds.

This was evident during the 1970s, the last prolonged period of US stagflation. At that time, both the S&P 500 (INDEXSP:.INX) and US treasuries experienced prolonged periods of underperformance in real terms.

Gold, on the other hand, surged in value as investors sought assets that could maintain their purchasing power amid inflation and economic uncertainty. The price of gold increased more than 1,000 percent from 1971 to 1980, reflecting its appeal as a hedge during economic stress. Commodities more broadly — such as oil, agricultural products and industrial metals — have historically performed better in stagflationary conditions.

Since commodities prices are a direct input into inflation measures, they tend to rise during inflationary periods, particularly when inflation is driven by supply shocks. For instance, in the 1970s, oil prices quadrupled following the OPEC embargo, delivering significant gains for energy producers and commodity-focused investors.

Still, it’s worth noting that no single asset or strategy is immune to the pressures of stagflation. While diversification, inflation hedging and a focus on quality assets are time-tested approaches, the unique combination of rising prices and faltering growth challenges even seasoned investors.

Investor takeaway

Stagflation is not just an economic term from the past — it may soon be a lived reality for millions and even billions.

With tariffs reshaping trade dynamics in real time, inflation hovering stubbornly above the Fed’s target and job growth showing signs of slowing, the conditions are set for a troubling period ahead.

Whether or not future policymaking can steer the economy away from this outcome remains to be seen. For now, consumers, businesses and investors alike would do well to prepare for the reality that stagflation brings — not just a historical anomaly, but a modern economic threat.

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

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Greenland’s Prime Minister Jens-Frederik Nielsen said Sunday that comments from U.S. officials about the Arctic island have been disrespectful and that the island cannot be purchased, in defiance of U.S. President Donald Trump, who has repeatedly floated the idea of buying the strategic territory.

Nielsen said Greenland ‘will never, ever be a piece of property that can be bought by just anyone’ as he stood by Denmark’s Prime Minister Mette Frederiksen during a joint press conference at Frederiksen’s Marienborg official residence in Lyngby, Denmark.

The Greenlandic prime minister was meeting with Frederiksen on the second day of a three-day official visit to Denmark. Greenland is a semi-autonomous territory of Denmark.

‘The talks from the United States have not been respectful,’ Nielsen said. ‘The words used have not been respectful. That’s why we need in this situation, we need to stand together.’

Political parties in Greenland recently agreed to form a broad-based new coalition government amid Trump’s targets on the territory.

This, as the island has for years been leaning toward eventual independence from Denmark.

Nielsen’s three-day visit seeks to address future cooperation between the two countries.

‘Denmark has the will to invest in the Greenlandic society, and we don’t just have that for historical reasons. We also have that because we are part of (the Danish) commonwealth with each other,’ Frederiksen said.

‘We of course have a will to also continue investing in the Greenlandic society,’ she added.

Nielsen is scheduled to meet Denmark’s King Frederik X on Monday before returning to Greenland with Frederik for a royal visit to the island.

Frederiksen and Nielsen were asked whether a meeting had been planned involving them and Trump.

‘We always want to meet with the American president,’ Frederiksen said. ‘Of course we want to. But I think we have been very, very clear in what is the [Danish commonwealth’s] approach to all parts of the Kingdom of Denmark.’

The Associated Press contributed to this report.

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Ceding large swathes of Ukrainian land to Russia under a peace proposal suggested by US President Donald Trump would be “a capitulation,” Germany’s defense minister warned on Sunday, as North Korea acknowledged for the first time it had deployed troops to fight for Moscow.

Ukraine knew that it may have to cede some territory to reach a lasting ceasefire deal “but they will certainly not go as far — or should not go as far — as the latest proposal by the American president,” Defense Minister Boris Pistorius told German public broadcaster ARD.

“Ukraine on its own could have got a year ago already what was included in that (Trump proposal), practically through a capitulation,” he said. “I cannot discern any added value.”

Trump has been frustrated that his efforts to broker a peace deal between Moscow and Kyiv after three years of war have so far fallen short, and the White House has since mounted an increasingly urgent push to strike a deal.

A US peace plan includes American recognition of Russia’s control over Crimea – the southern Ukrainian peninsula that Moscow illegally annexed more than a decade ago – and would grant Russia additional Ukrainian territory occupied since its full-scale invasion began in 2022, according to officials familiar with the plan.

Ukrainian President Volodymyr Zelensky on Saturday conceded that Ukraine lacks the military might needed to retake Crimea by force but has long made it clear that making territorial concessions is a red line. Recognizing Crimea as Russian would also be illegal under Ukraine’s constitution.

“This [territory] is not my property. This is the property of the Ukrainian people,” he said at a Friday briefing.

Following Trump and Zelensky’s remarkable face-to-face meeting at the Vatican before Pope Francis’ funeral on Saturday, the US president said they briefly discussed the issue of Crimea and that he believes Zelensky “wants to make a deal.”

Trump also criticized President Vladimir Putin in some of his strongest comments against the Russian leader to date.

“I want him to stop shooting, sit down and sign a deal,” Trump said Sunday as he returned to Washington to begin what aides say will be a critical week in determining the future of US-led efforts to broker an end to the war. “We have the confines of a deal, I believe, and I want him to sign it and be done with it and just go back to life.”

In a post on his Truth Social platform sent as he returned from Rome, Trump raised the prospect of applying new sanctions on Russia after its deadly assault on Kyiv last week, and questioned whether Putin is interested in peace, saying, “it makes me think that maybe he doesn’t want to stop the war, he’s just tapping me along.”

The next week will be “very critical” in determining whether the US can continue attempting to broker peace in Ukraine, Secretary of State Marco Rubio said Sunday, telling NBC that “we’re close” to a deal “but not close enough.”

North Korean troops in Kursk

On Monday, North Korea publicly acknowledged for the first time that it deployed troops to fight for Russia in its war with Ukraine, touting its combat sub-units’ contributions to “precious victory” in the invaded Russian region of Kursk.

“The operations for liberating the Kursk area to repel the adventurous invasion of the Russian Federation by the Ukrainian authorities were victoriously concluded,” North Korea’s Central Military Commission said, according to state-run news agency KCNA.

Putin on Saturday claimed his country’s forces have recaptured Kursk, the border region where Ukraine launched a surprise offensive last year, though Kyiv insists its troops are fiercely battling to preserve their foothold in the territory.

“Our Korean friends acted out of a sense of solidarity, justice and genuine comradeship,” Putin said in a statement Monday.

“We pay tribute to the heroism, high level of special training and self-sacrifice of the Korean soldiers who, shoulder to shoulder with Russian fighters, defended our homeland as their own,” he added.

North Korean soldiers have been supporting Russia’s battle to oust Ukraine’s forces from its borders, while Kyiv had poured precious resources into holding onto its territory there, with the view of using it as a key bargaining chip in any peace talks. The operation was also launched to relieve pressure from the embattled eastern front line.

Ukrainian officials and Western intelligence reports found that about 12,000 North Korean soldiers had been sent to fight in Russia, but Pyongyang had never confirmed their presence.

In March, South Korea’s military said 3,000 more North Korean soldiers had been sent to Russia, replacing the roughly 4,000 troops who were killed or injured in combat.

North Korea’s Central Military Commission said leader Kim Jong Un ordered the deployments based on a strategic partnership treaty with Russia, KCNA reported.

Putin and Kim signed a landmark defense pact in Pyongyang last year, as the two autocratic nations ramped up ties to a “new level,” and pledged to provide immediate military assistance in the event the other is attacked.

“They who fought for justice are all heroes and representatives of the honor of the motherland,” Kim reportedly said, adding that a monument would be erected to commemorate his troops’ actions.

Russia acknowledged the involvement of North Korean soldiers in its operations for the first time on Saturday. In a post on Telegram, Valery Gerasimov, chief of the Russian General Staff, thanked the North Korean soldiers, praising their “high professionalism, steadfastness, courage and heroism in battle.”

As well as troops, South Korea’s military said in March that North Korea has sent a “significant amount” of short-range ballistic missiles and hundreds of pieces of 170-millimeter self-propelled howitzers and 240-millimeter multiple rocket launchers.

The US Department of State said it was concerned by North Korea’s direct involvement in Russia’s war in Ukraine

North Korea’s “military deployment to Russia and any support provided by the Russian Federation to (North Korea) in return must end,” a State Department spokesperson told Reuters.

South Korea’s Defense Ministry said on Monday that North Korea had “effectively admitted to its criminal actions” by finally officially announcing the deployment.

“North Korea’s involvement in the war in Ukraine is a violation of UN resolutions and an illegal act that threatens world peace. This must be condemned by the international community,” the ministry added.

North Korea’s confirmation that its troops were fighting in Russia, months after they were deployed, mirrors Putin’s long-standing denials that Russian troops had been deployed to Crimea in 2014.

The crisis there started shortly after 2014 mass protests in Ukraine that toppled the country’s Russian-backed regime of Viktor Yanukovych. Russian soldiers dressed as civilians or in uniform without identifying insignia – at the time referred to as “little green men” – started popping up outside government buildings and military bases across Crimea.

While Moscow denied any involvement in the appearance of the little green men in Crimea, the territory held a sham referendum on joining Russia just weeks after the covert operation. Putin would later acknowledge he had deployed Russian troops there.

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