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Osisko Metals Intersects 731 Metres Averaging 0.29% Cu at Gaspé

Investing 15 Mins Read

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals Chief Executive Officer Robert Wares commented: ‘ Drill results at Gaspé Copper continue to exceed expectations. These new data expand the deposit further south and at depth with drill holes 30-1092 and 30-872, located respectively 230 metres and 440 metres south of the 2024 Mineral Resource Estimate (‘MRE’) model. Additional holes are planned in this resource expansion target area in the coming months over a surface of 450 metres by 550 metres, which we believe will add significant new tonnage to the MRE update, planned for Q1 2026. ‘

New analytical results are presented below (see Table 1), including 20 mineralized intercepts from 7 new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both**’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

  • Drill hole 30-1096
    • 730.7 metres averaging 0.29% Cu (infill and expansion)
  • Drill hole 30-1085
    • 219.0 metres averaging 0.41% Cu (infill)
    • 754.5 metres averaging 0.24% Cu (infill and expansion)
  • Drill hole 30-1092
    • 331.5 metres averaging 0.37% Cu (expansion)
  • Drill hole 30-1095
    • 309.5 metres averaging 0.26% Cu (infill)
  • Drill hole 30-1098
    • 115.0 metres averaging 0.29% Cu (infill)
    • 124.5 metres averaging 0.20% Cu (expansion)
  • Drill hole 30-1099
    • 614.7 metres averaging 0.23% Cu (infill and expansion)
  • Drill hole 30-0872
    • 92.1 metres averaging 0.24% Cu (expansion)
    • 47.2 metres averaging 1.14% Cu (expansion)

Table 1: Infill and Expansion Drilling Results

DDH No. From (m) To (m) Length (m) Cu % Ag g/t Mo % CuEq* Type**
30-0872 167.6 259.7 92.1 0.24 3.05 0.25 Expansion
And 342.0 389.2 47.2 1.14 11.84 1.22 Expansion
30-1085 3.0 222.0 219.0 0.41 2.79 0.44 Infill
And 355.5 1110 754.5 0.24 1.63 0.019 0.32 Both
(including) 355.5 763.3 407.8 0.21 1.49 0.020 0.30 Infill
(including) 763.3 1110.0 346.7 0.27 1.79 0.019 0.36 Expansion
30-1092 15.0 346.5 331.5 0.37 3.21 0.39 Expansion
30-1095 15.0 43.0 28.0 0.22 1.75 0.23 Infill
And 57.0 366.5 309.5 0.26 2.11 0.007 0.30 Infill
And 425.9 482.0 56.1 0.23 1.70 0.24 Expansion
And 524.7 550.5 21.9 0.42 2.04 0.43 Expansion
30-1096 27.0 78.0 51.0 0.21 1.40 0.22 Infill
And 129.0 177.0 48.0 0.17 1.20 0.18 Infill
And 331.5 1062.2 730.7 0.29 1.60 0.032 0.42 Both
(including) 331.5 727.5 396.0 0.21 1.45 0.032 0.34 Infill
(including) 727.5 1062.2 334.7 0.39 1.79 0.032 0.52 Expansion
30-1098 36.0 141.0 104.5 0.20 2.25 0.21 Infill
And 255.0 288.0 33.0 0.21 1.18 0.22 Infill
And 330.0 445.5 115.0 0.29 2.18 0.017 0.36 Infill
And 606.0 730.5 124.5 0.20 1.57 0.014 0.26 Expansion
And 753.0 813.0 60.0 0.35 2.88 0.006 0.39 Expansion
30-1099 31.5 66.0 34.5 0.22 1.08 0.23 Infill
And 105.3 720.0 614.7 0.23 1.59 0.016 0.30 Both
(including) 105.3 578.0 472.7 0.23 1.61 0.017 0.30 Infill
(including) 578.0 720.0 142.0 0.23 1.52 0.015 0.30 Expansion
And 862.2 1000.5 138.0 0.13 1.01 0.028 0.24 Expansion

* See explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-0872 was an old Noranda hole from the 1990s from which core was recovered and analyzed. The hole is located 440 metres south of the southern limit of 2024 MRE model and returned 92.1 metres averaging 0.24% Cu and 3.05 g/t Ag followed by a higher grade second intercept of 47.2 metres averaging 1.14% Cu and 11.8 g/t Ag (at the level of the C Zone skarn horizon), extending mineralization to a vertical depth of 390 metres. The first intercept starts at a depth of 168 metres and the overlying stratigraphy (Indian Cove hornfels) is unmineralized, but this waste material may be included as necessary strip in the next Whittle pit shell.

Drill hole 30-1085, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 219.0 metres averaging 0.41% Cu and 2.79 g/t Ag (infill), followed by a second intercept (starting 130 metres deeper) of 754.5 metres averaging 0.24% Cu, 1.63 g/t Ag and 0.019% Mo (both infill and expansion at depth).This hole extends mineralization near the centre of the deposit to a vertical depth of 1110 metres.

Drill hole 30-1092 is located 230 metres south of the southern limit of 2024 MRE model and returned 331.5 metres averaging 0.37% Cu and 3.21 g/t Ag (from surface down to the P4 stratigraphic level below the C Zone). This hole is located approximately 15 metres west of previously-reported hole 30-1067, which had failed to drill through a pillar of the B Zone.

Drill hole 30-1095, located in the south-central part of the 2024 MRE model, intersected 309.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill). This was followed by 56.1 metres averaging 0.23% Cu and 1.70 g/t Ag and then by another 21.9 metres averaging 0.42% Cu and 2.04 g/t Ag (both expansion), extending mineralization to a vertical depth of 550 metres.

Drill hole 30-1096, located in the central part of the 2024 MRE model, intersected two short (51 and 48 metre-long) mineralized zones, followed by 730.7 metres averaging 0.29% Cu, 1.60 g/t Ag, and 0.032% Mo (0.42% CuEq). The latter includes an expansion lower intercept, below the base of the 2024 MRE model, of 334.7 metres averaging 0.39% Cu, 1.79 g/t Ag, and 0.032% Mo (0.52% CuEq). This hole extends mineralization to a vertical depth of 1062 metres.

Drill hole 30-1098, located near the western margin of the 2024 MRE model, intersected 104.5 metres averaging 0.20% Cu and 2.25 g/t Ag (infill), followed by 115.0 metres averaging 0.29% Cu and 2.18 g/t Ag (infill). This was followed by 124.0 metres averaging 0.20% Cu and 1.57 g/t Ag and then by another 60.0 metres averaging 0.35% Cu and 2.88 g/t Ag (both expansion), extending mineralization to a vertical depth of 813 metres.

Drill hole 30-1099, located near the central part of the 2024 MRE model, adjacent to the Copper Mountain pit, intersected a short (34-metre-long) mineralized zone followed by 614.7 metres averaging 0.23% Cu, 1.59 g/t Ag, and 0.016% Mo (both infill and expansion), followed by a third intersection of 138 metres that averaged 0.13% Cu, 1.01 g/t Ag, and 0.028% Mo (expansion), extending mineralization in the porphyry core of the deposit to a vertical depth of 1000 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-replacement mineralization, that is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

DDH No. Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation
30-0872 0.00 -90.00 594.3 316531.1 5425181.2 706.3
30-1085 0.00 -90.00 1110.0 316020.0 5426400.0 742.5
30-1092 0.00 -90.00 741.0 316342.0 5425425.0 609.0
30-1095 0.00 -90.00 696.0 316409.1 5425733.0 572.8
30-1096 0.00 -90.00 1069.0 316198.0 5426305.0 753.3
30-1098 0.00 -90.00 861.0 316034.0 5425948.0 600.5
30-1099 0.00 -90.00 1041.0 315700.0 5426462.0 603.7

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are not reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

Option Grant

The Company announces that, effective August 12, 2025, it has granted to an employee of the Company an aggregate of 125,000 stock options (‘Options’) pursuant to the Osisko Metals omnibus equity incentive plan.

The Options have an exercise price of $0.44 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f12ebf89-5e37-4f45-86a2-3476365db1e2
https://www.globenewswire.com/NewsRoom/AttachmentNg/2a67e753-d0a2-4e74-8717-d7ee5bf555b7

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Former Navy SEAL Rep. Eli Crane fires off message for ex-President Obama: ‘Probably best to sit this one out’

Politics 2 Mins Read

Former Navy SEAL and current GOP House lawmaker Rep. Eli Crane of Arizona delivered a pointed message to former President Barack Obama.

‘You’ve done enough damage. Probably best to sit this one out,’ the congressman told Obama in a post on X.

Crane made the comments in response to a post in which Obama declared, ‘Since we passed the Affordable Care Act, Republicans have tried over and over to repeal it. And over and over, they’ve failed — in part because millions of people now depend on the ACA for quality, affordable health care. Now Republicans are trying something different: quietly weakening the law and hoping you won’t notice. We can’t let them.’

GOP Sen. Mike Lee of Utah wrote in response to the Democrat’s post, ‘Obamacare was a great deal—for huge healthcare companies But it’s made healthcare less affordable for hardworking American families, who have seen their healthcare costs skyrocket—while a small handful of healthcare giants have reaped a windfall of billions of dollars a year.’

‘The worst part of Obamacare was putting able-bodied, working-age adults on government assistance instead of helping them find employment. I’ve been vocally against this since day one. Medicaid should be for needy children, families, and seniors. Not for those who can work!’ former Wisconsin Gov. Scott Walker, who is now the president of the Young America’s Foundation, wrote.

Fox News Digital reached out to the White House for comment on Obama’s post.

Obama served two consecutive terms as president, with his White House tenure spanning from early 2009 through early 2017, when he was succeeded by President Donald Trump.

This post appeared first on FOX NEWS

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Business

Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

Business 3 Mins Read

Bed Bath & Beyond is back — kind of.

The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come.

This time around, the store has a new name — Bed Bath & Beyond Home — and marks a “fresh start” for the beloved brand, said Amy Sullivan, the CEO of The Brand House Collective, the store’s operator.

“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Sullivan said in a news release. “With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. It’s a powerful addition to our portfolio and a meaningful step forward in our transformation.”

In honor of the brand’s legacy, the new store will accept the brand’s famous 20% coupon, regardless of when it expired.

“We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor,” the company said in a news release. “The coupon we all know and love is back and for those who need one, a fresh version will be waiting at the door.”

Bed Bath and Beyond 2.0 has been several years in the making and involved a rigmarole of corporate acquisitions and rebrandings. When the original Bed Bath and Beyond filed for bankruptcy in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond.

What followed from there was a dizzying array of corporate deal-making. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores.

Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops. Friday’s launch in Nashville is the first of six planned for the market and, pending the results, it plans to convert around 75 additional stores through 2026.

The company said it chose Nashville for the launch because of its proximity to its corporate headquarters, which will allow it to “closely manage every detail and set the standard for future rollouts.”

While the relaunch is exciting for fans of the legacy brand, it comes at a difficult time for the home decor market. In many ways, Bed Bath & Beyond’s bankruptcy was the fault of its management team and execution missteps, but it also faced macro challenges as well, experts said at the time. Competition from players like Amazon, Walmart, Home Goods and Wayfair has made it harder for other brands to capture customer spend, and the overall sector has been soft for several years because of high interest rates and the sluggish housing market.

Even the current leaders in the home decor space have seen soft trends and it’s unlikely that will change until interest rates fall and the housing market picks back up, some analysts have said.

This post appeared first on NBC NEWS

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Business

A top Federal Reserve official says bleak jobs data backs the case for 3 rate cuts

Business 3 Mins Read

NEW YORK — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, but it could also threaten to push inflation higher.

Bowman and a fellow dissenter lost out after nine other Fed officials voted to keep interest rates steady, as the Fed has been doing all year. The Fed’s chair, Jerome Powell, has been adamant that he wants to wait for more data about how President Donald Trump’s tariffs are affecting inflation before the Fed makes its next move.

At a speech during a bankers’ conference in Colorado on Saturday, Bowman said that “the latest labor market data reinforce my view” that the Fed should cut interest rates three times this year. The Fed has only three meetings left on the schedule in 2025.

The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected. It also said that hiring in prior months was much lower than initially thought.

On inflation, meanwhile, Bowman said she is getting more confident that Trump’s tariffs “will not present a persistent shock to inflation” and sees it moving closer to the Fed’s 2% target. Inflation has come down substantially since hitting a peak above 9% after the pandemic, but it has been stubbornly remaining above 2%.

The Fed’s job is to keep the job market strong, while keeping a lid on inflation. Its challenge is that it has one main tool to affect both those areas, and helping one by moving interest rates up or down often means hurting the other.

A fear is that Trump’s tariffs could box in the Federal Reserve by sticking the economy in a worst-case scenario called “stagflation,” where the economy stagnates but inflation is high. The Fed has no good tool to fix that, and it would likely have to prioritize either the job market or inflation before helping the other.

On Wall Street, expectations are that the Fed will have to cut interest rates at its next meeting in September after the U.S. jobs report came in so much below economists’ expectations.

Trump has been calling angrily for lower interest rates, often personally insulting Powell while doing so. He has the opportunity to add another person to the Fed’s board of governors after an appointee of former President Joe Biden stepped down recently.

This post appeared first on NBC NEWS

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Business

What Trump’s Nvidia and AMD China deal means for the world

Business 5 Mins Read

Nvidia and AMD have agreed to share 15% of their revenue from sales to China with the U.S. government, the White House confirmed Monday, sparking debate about whether the move could affect the chip giants’ business and whether Washington might seek similar deals.

In exchange for the revenue cut, the two semiconductor companies will receive export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the Financial Times.

“We follow rules the U.S. government sets for our participation in worldwide markets. While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” Nvidia said in a statement to NBC News. “America cannot repeat 5G and lose telecommunication leadership. America’s AI tech stack can be the world’s standard if we race.”

AMD said in a statement that its initial license applications to export MI308 chips to China have been approved.

The arrangement crafted by President Donald Trump’s administration is “unusual,” analysts told CNBC, but underscores his transactional nature. Meanwhile, investors see the move as broadly positive for both Nvidia and AMD, which once more secure access to the Chinese market.

Nvidia’s H20 is a chip that has been specifically created to meet export requirements to China. It was previously banned under export curbs, but the company last month said it expected to receive licenses to send the product to China.

Also in July, AMD said it would resume exports of its MI308 chips.

At the time, there was no suggestion that the resumption of sales to China would come with conditions or any kind of revenue forfeiture, and the step was celebrated by markets because of the billions of dollars worth of potential sales to China that were back on the table.

On Monday, Nvidia shares rose modestly, while AMD’s stock was up more than 2%, highlighting how investors believe the latest development is not a major negative for the companies.

“From an investor perspective, it’s still a net positive, 85% of the revenue is better than zero,” Ben Barringer, global technology analyst at Quilter Cheviot, told CNBC.

“The question will be whether Nvidia and AMD adjust their prices by 15% to account for the levy, but ultimately it’s better that they can sell into the market rather than hand the market over entirely to Huawei.”

Huawei is Nvidia and AMD’s closest Chinese rival.

Uncertainty, nevertheless, still looms for both U.S. companies over the longer term.

“In the short term, the deal gives both companies some certainties for their exports to China,’ George Chen, partner and co-chair of the digital practice at The Asia Group, told CNBC. ‘For the long term, we don’t know if the U.S. government may want to take a bigger cut from their China business especially if their sales to China keep growing.’

Multiple analysts told CNBC that the deal is “unusual,” but almost par for the course for Trump.

“It’s a good development, albeit a strange one, and feels like the sort of arrangement you might expect from President Trump, who is a deal-maker at heart. He’s willing to yield, but only if he gets something in return, and this certainly sets an unusual precedent,” Barringer said.

Neil Shah, partner at Counterpoint Research, said the revenue cut is equivalent to an “indirect tariff at source.”

Daniel Newman, CEO of The Futurum Group, also posted Sunday on X that the move is a “sort of ‘tax’ for doing business in China.”

But such deals are unlikely to be cut for other companies.

“I don’t anticipate it extending to other sectors that are just as important to the U.S. economy like software and services,” Nick Patience, practice lead for AI at The Futurum Group, told CNBC.

The U.S. sees semiconductors as a strategic technology, given they underpin so many other tools like artificial intelligence, consumer electronics and even military applications. Washington has therefore put chips under an export control regime unlike that of any other product.

“Semiconductor is a very unique business and the pay-to-play tactic may work for Nvidia and AMD because it’s very much about getting export approval from the U.S. gov,” the Asia Group’s Chen said.

“Other business like Apple and Meta can be more complicated when it comes to their business models and services for China.”

Semiconductors have become a highly sensitive geopolitical topic. Over the last two weeks, China has raised concerns about the security of Nvidia’s chips.

Late last month, Chinese regulators asked Nvidia to “clarify” reports about potential security vulnerabilities and “backdoors.” Nvidia rejected the possibility that its chips have any “backdoors” that would allow anyone to access or control them. On Sunday, Nvidia again denied that its H20 semiconductors have backdoors after accusations from a social media account affiliated with Chinese state media.

China’s state-run newspaper Global Times slammed Washington’s tactics, citing an expert.

“This approach means that the US government has repudiated its original security justification to pressure US chip makers to secure export licenses to China through economic leverage,” the Global Times article said.

The Chinese government is yet to comment on the reported revenue agreement.

Trump’s deal with Nvidia and AMD will likely stir mixed feelings in China. On the one hand, China will be unhappy with the arrangement. On the other hand, Chinese firms will likely want to get their hands on these chips to continue to advance their own AI capabilities.

“For China, it is a conundrum as they need those chips to advance their AI ambitions but also the fee to the US government could make it costlier and there is a doubt of US ‘backdoors’ considering US has agreed for chipmakers to supply,” Counterpoint Research’s Shah said.

— CNBC’s Erin Doherty contributed to this report.

This post appeared first on NBC NEWS

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Business

ESPN, Fox to bundle upcoming streaming services for $39.99 a month

Business 3 Mins Read

Disney’s ESPN and Fox Corp. are teaming up to offer their upcoming direct-to-consumer streaming services as a bundle, the companies said Monday.

The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular.

Last week, both companies announced additional details about the new streaming options. ESPN’s streaming service — which has the same name as the TV network — and Fox’s Fox One will each launch on Aug. 21, ahead of the college football and NFL seasons.

The bundled apps, however, will be available beginning Oct. 2 for $39.99 per month. Separately, ESPN and Fox One will cost $29.99 and $19.99 a month, respectively.

While the bundle will offer sports fans a bigger offering at a discounted rate, the streaming services are not exactly the same.

ESPN’s flagship service will be an all-in-one app that includes all of its live sports and programming from its TV networks, including ESPN2 and the SEC Network, as well as ESPN on Disney-owned ABC. The app will also have fantasy products, new betting tie-ins, studio programming and documentaries.

ESPN will also offer its app as a bundle with Disney’s other streaming services, Disney+ and Hulu, for $35.99 a month. That Disney bundle will cost a discounted $29.99 a month for the first 12 months — the same price as the stand-alone app.

Last week, ESPN further beefed up the content on its streaming app when it inked a deal with the WWE for the U.S. rights to the wrestling league’s biggest live events, including WrestleMania, the Royal Rumble and SummerSlam, beginning in 2026. The sports media giant also reached an agreement with the NFL that will see ESPN acquire the NFL Network and other media assets from the league.

The Fox One service, however, will be a bit different. Fox had been on the sidelines of direct-to-consumer streaming for years after its competitors launched their platforms. Just this year, it said it would offer all of its content — including news and entertainment — from its broadcast and pay TV networks in a streaming offering. Fox One won’t have any exclusive or original content.

Fox’s move into the direct-to-consumer streaming game — outside of its Fox Nation app and the free, ad-supported streamer Tubi — came after it abandoned its efforts to launch Venu, a joint sports streaming venture with Disney and Warner Bros. Discovery.

Both Fox CEO Lachlan Murdoch and Disney CEO Bob Iger said during separate earnings calls last week that they were exploring bundling options with other services. Since Fox announced the Fox One app, Murdoch has said the company would lean into bundles with other streaming services.

“Announcing ESPN as our first bundle partner is evidence of our desire to deliver the best possible value and viewing experience to our shared customers,” said Tony Billetter, SVP of strategy and business development for FOX’s direct to consumer segment, in a release on Monday.

This post appeared first on NBC NEWS

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