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German conservative’s bid for chancellor falls short, a first in more than 75 years

Politics 2 Mins Read

Friedrich Merz, the conservative leader who was poised to become Germany’s next chancellor, failed to win enough votes to secure the country’s top position.

This leaves German Chancellor Olaf Scholz in power even though he had already delivered a farewell address. Merz’s loss marks a historic moment, as it is the first of its kind in post-war Germany.

The result came as a major upset, as Merz was widely expected to win, thanks to a coalition deal involving his party, the Christian Democratic Union (CDU); its Bavarian sister party, the Christian Social Union (CSU); and the Social Democratic Party (SPD).

In February, Merz led his party to a federal election victory and later signed the deal that many assumed would secure him the votes needed to become chancellor. However, on Tuesday, Merz received 310 votes—falling short by six—as at least 18 Members of the German Parliament in the coalition did not back him, according to Reuters.

To secure the position of chancellor, Merz would have needed to win 316 out of 630 in the Bundestag. The coalition of CSU/CDU and SPD has 328 seats, more than enough to secure a majority victory. However, Merz received 310 votes, while 307 members voted against him and nine others abstained.

Despite his unexpected loss, Merz is not out of luck. The Bundestag now has 14 days to elect the next chancellor, and Merz still has a chance of winning the position. Germany’s socialist Left Party, however, is pushing to hold another round of chancellor elections as soon as Wednesday, according to Germany-based news outlet DW.

Merz had already lined up victory trips to France and Poland on Wednesday, Reuters reported, though it is unclear whether he will proceed with the visits as planned following the defeat.

This post appeared first on FOX NEWS

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Politics

Vance, conservatives blast Omar over resurfaced ‘fearful of White men’ clip: ‘Genocidal language’

Politics 2 Mins Read

A resurfaced clip of Dem. Rep. Ilhan Omar, a member of the progressive ‘Squad’ in Congress, sparked a frenzy on social media this week with conservatives blasting the congresswoman over her comments regarding the ‘radicalization of White men.’

‘I would say our country should be more fearful of White men across our country, because they are actually causing most of the deaths within this country,’ Omar said in a 2018 interview with Al-Jazeera while discussing the domestic terrorism threats in the United States and responding to a question on how much concern ‘jihadism’ poses to the United States. 

 ‘And so if fear was the driving force of policies to keep America safe, Americans safe inside of this country, we should be profiling, monitoring, and creating policies to fight the radicalization of White men.’

The clip, posted by conservative influencer accounts including Laura Loomer and LibsofTikTok with millions of impressions, sparked outrage from conservatives on social media, including from inside the White House. 

‘This isn’t just sick; it’s actually genocidal language,’ Vice President JD Vance posted on X. ‘What a disgrace this person is.’

‘This is blatant racism,’ GOP Sen. Mike Lee posted on X. ‘Who condemns it?’

‘@ilhanMN never ceases to be an embarrassment for Minnesota,’ GOP Majority Whip Rep. Tom Emmer, who represents Minnesota’s 6th Congressional District, posted on X. 

‘There’s never been a more anti-American member of Congress than Ilhan Omar,’ conservative influencer Paul Szypula posted on X. 

Fox News Digital reached out to Omar’s office for comment. 

The social media firestorm comes shortly after Omar sparked controversy for telling Daily Caller News Foundation reporter Myles Morell to ‘f— off’ after he asked her a question about fellow Democratic Party figures traveling to El Salvador to defend illegal immigrant Kilmar Abrego Garcia, who was deported to the country by the Trump administration.

Omar later responded to the clip being shared on X, stating, ‘I said what I said. You and all your miserable trolls can f— off.’

This post appeared first on FOX NEWS

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Business

Skechers to be acquired by 3G Capital in take-private deal, shares soar 25%

Business 3 Mins Read

Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.

The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared more than 25% after the transaction was announced.

“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” Skechers’ CEO, Robert Greenberg, said in a news release.

“Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth,” he said.

The transaction comes at a difficult time for the retail industry and in particular, the footwear sector, which relies on discretionary spending and overseas supply chains that are now in the crosshairs of President Donald Trump’s trade war. 

Last week Skechers signed onto a letter penned by the Footwear Distributors and Retailers of America trade group asking for an exemption from Trump’s tariffs.

And, a little over a week ago, Skechers withdrew its full-year 2025 guidance “due to macroeconomic uncertainty stemming from global trade policies” as companies brace for a drop in consumer spending that will disproportionately impact the footwear and apparel sectors. 

Skechers declined to say how much of its supply chain is based in China, which is currently facing 145% tariffs, but cautioned that two-thirds of its business is outside of the U.S. and therefore won’t see as much of an impact. 

A source close to the deal who spoke on the condition of anonymity to discuss nonpublic details said the trade environment didn’t force Skechers into a deal and that 3G Capital had been interested in acquiring the company for years.

Tariffs do present some uncertainty in the short term, but 3G Capital believes the long-term outlook of Skechers’ business remains attractive and is well positioned for growth, the person said.

Skechers is the third-largest footwear company in the world behind Nike and Adidas.

Greenberg will stay on as Skechers’ CEO and continue enacting the company’s strategy after the acquisition is completed.

This post appeared first on NBC NEWS

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Business

Rite Aid files for second bankruptcy in two years

Business 2 Mins Read

U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing.

Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores.

Walgreens, facing significant losses, recently agreed to a $10 billion buyout by private equity firm Sycamore Partners — a dramatic decline from its $100 billion valuation a decade ago, underscoring the severe challenges facing traditional pharmacy retailers.

Rite Aid used its previous bankruptcy in 2023 to cut $2 billion in debt, close hundreds of stores, sell its pharmacy benefit company, Elixir, and negotiate settlements with its lenders, drug distribution partner McKesson and other creditors.

The previous bankruptcy also resolved hundreds of lawsuits alleging that Rite Aid ignored red flags when filling suspicious prescriptions for addictive opioid pain drugs.

But despite those settlements, Rite Aid still had $2.5 billion in debt when it emerged from bankruptcy as a private company owned by its lenders in 2024.

According to Monday’s court filing, the company has estimated assets and liabilities in the range of $1 billion to $10 billion.

The company was unable to secure additional capital from lenders, which it needed to continue operating the business, Bloomberg News reported earlier in the day, citing an internal letter from CEO Matthew Schroeder to the company’s employees.

The letter also states that the drug store chain intends to reduce its workforce at its corporate offices in Pennsylvania.

Rite Aid operated about 2,000 pharmacies in 2023 but now has only 1,250 stores across the U.S., with recent closures significantly reducing its presence in markets such as Ohio and Michigan.

This post appeared first on NBC NEWS

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Investing

White Cliff Minerals Limited (ASX: WCN) – Trading Halt

Investing 1 Min Read

Description

The securities of White Cliff Minerals Limited (‘WCN’) will be placed in trading halt at the request of WCN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 7 May 2025 or when the announcement is released to the market.

Issued by

ASX Compliance

Click here for the full ASX Release

This post appeared first on investingnews.com

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Investing

Hazer and KBR Enter Global Deal to Accelerate Licensing and Commerciali

Investing 5 Mins Read

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

Highlights

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

KBR – A Global Leader in Technology Licensing

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

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

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

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

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

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

Strategic Alliance to Commercialise Hazer’s Leading Methane Pyrolysis Technology

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

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

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

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

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

Click here for the full ASX Release

This post appeared first on investingnews.com

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Investing

New Cannabis Consumption Trends, Regulatory Shifts Seen Driving Market in 2025

Investing 7 Mins Read

Understanding trends in the cannabis industry is paramount for investors eyeing a market with steady growth potential, but the landscape is complex as products and regulations continue to evolve.

Consumption habits are changing as edibles, vaping and THC beverages gain traction, especially among younger users, and cannabis companies are adapting their offerings to meet shifting demand.

Meanwhile, regulatory uncertainty, particularly surrounding the future of the US Farm Bill and state-level restrictions on hemp-derived cannabinoids, continues to challenge the market.

Despite these headwinds, production data and long-term growth forecasts suggest the cannabis industry remains on a promising — albeit turbulent — path. Read on for more on key trends to watch in 2025.

Consumption methods evolving post-legalization

Shifts in consumer behavior are reshaping markets across the board, and the cannabis industry is no exception.

While smoking remains the dominant method of cannabis consumption, a recent report from the Centers for Disease Control and Prevention highlights the growing popularity of edibles, vaping and dabbing.

The report notes that vaping and dabbing are particularly pronounced among younger adults.

A separate study published by the American Medical Association and funded in part by the Canadian Institutes of Health Research also points to how product preferences have changed among Canadian users since legalization in 2018.

The study indicates that while the use of flower, cannabis concentrates, oil, tinctures and topicals has decreased during that time, the use of vape cartridges, edibles and beverages has increased.

Edibles and beverages were legalized in Canada in late 2019, and Truss Beverage was one of the first players to introduce cannabis-infused drinks. Truss was a joint venture formed by Molson Coors Canada (TSX:TPX.A,TSX:TPX.B) and HEXO, a cannabis company that has since been acquired by Tilray Brands (TSX:TLRY,NASDAQ:TLRY).

In early 2020, Tilray launched a lineup of confectionery, wellness products and beverages through its subsidiary, High Park; Canopy Growth (TSX:WEED,NASDAQ:CGC) made a similar move. These companies gradually brought their products to the US as more states legalized cannabis for medical and/or recreational use.

Today, established cannabis brands typically offer edibles and beverages alongside their other products. Organigram Global (TSX:OGI,NASDAQ:OGI) is one of the newest US entrants, with its April acquisition of Collective Project providing immediate access to the US hemp-derived THC beverage market.

Growing awareness of health and wellness, potentially amplified by the pandemic-led adoption of health trackers, appears to be making an impact on the alcoholic beverage market.

A 2023 Gallup poll reveals a two decade decline in alcohol consumption, particularly among younger adults, suggesting a shift towards more health-conscious lifestyles within this demographic.

Craft beer production declined by 4 percent year-on-year in 2024, according to data collected by the Brewers Association. This marked the largest drop in the industry’s history, excluding the pandemic. For small, independent craft breweries, 2024 marked the third consecutive year of declining production. A drop in the number of operating small breweries last year provides further evidence of this trend, with 501 closures in 2024 versus 434 openings.

Challenges in the alcohol market extend beyond the brewing industry, with the New York Times recently reporting the closure of a handful of nightclubs facing decreased alcohol sales alongside rising insurance and rent costs.

Meanwhile, cannabis lounges have been popping up across the US for the last several years. As of early 2025, several states had legalized or were in the process of implementing regulations for cannabis consumption lounges.

Hemp market growth despite regulatory uncertainty

The burgeoning hemp industry is another segment of the expanding cannabis market.

The legalization of industrial hemp — defined as cannabis with a THC concentration of 0.3 percent or less — through the 2018 Farm Bill led to initial investment and optimistic projections for CBD wellness products and various industrial applications. The sector’s rapid evolution also brought the rise of hemp-derived intoxicating cannabinoids, creating a market that presented both opportunities and complexities for participants.

However, after an initial boom, a lack of infrastructure and clearly defined regulations for CBD, as well as state-level variations and market oversupply, ultimately contributed to a quick retraction.

2024 was a pivotal year for the US hemp industry, as the hemp-related provisions of the 2018 Farm Bill — originally set to expire in September 2023, but extended to December 31, 2024 — created an urgent need to address critical issues like THC limits and the regulation of novel hemp-derived cannabinoids. A major point of contention was the proposed shift from defining hemp based on Delta-9 THC concentration (0.3 percent or less) to “total THC,” which includes THCA.

This change had the potential to significantly impact farmers and processors, as many hemp varieties that are compliant under the Delta-9 THC rule could exceed the 0.3 percent limit when THCA is included.

Various bills and amendments were proposed in 2024 as part of the Farm Bill discussions, each with different approaches to regulating hemp. Separate regulatory frameworks for industrial hemp and hemp grown for cannabinoids were suggested, and many states took their own action, leading to a patchwork of regulations and even outright bans.

Despite challenges, data from the US Department of Agriculture suggests signs of recovery.

The department’s annual National Hemp Report from 2024 points to an 18 percent increase in industrial hemp production value between 2022 and 2023, with output growth seen in specific sectors like floral (18 percent), fiber (133 percent) and seed hemp (414 percent). The 2025 report from the Department of Agriculture indicates further expansion, with notable increases observed in both acreage (up 64 percent from 2023) and value (46 percent).

The 2024 Farm Bill ultimately did not pass, and right now the hemp industry is operating under a temporary extension of the 2018 Farm Bill under the American Relief Act of 2025, signed into law on December 21, 2024.

The 2018 Farm Bill is now set to expire on September 30, 2025.

While analysts for Markets and Markets project that the North American hemp industry will grow at a CAGR of 22.4 percent and ultimately reach a valuation of US$30.24 billion by 2029, the future of the industry will be heavily influenced by the outcome of the ongoing Farm Bill discussions.

US cannabis legalization remains stalled

Although there is clear demand for cannabis products, the now-defunct rescheduling process in the US is likely to continue casting a shadow of uncertainty over the industry’s long-term trajectory.

Legal and procedural delays, including allegations of improper conduct and bias within the US Drug Enforcement Administration (DEA), led to hearing cancellations, and the new administration of US President Donald Trump has brought leadership changes to key agencies like the DEA and the Department of Justice.

Terry Cole, who Trump nominated to be DEA administrator on February 11, has a history of opposing cannabis legalization in the country. Similarly, Pam Bondi, Trump’s pick to lead the justice department, staunchly opposed a movement to legalize medical cannabis during her tenure as Florida’s attorney general.

While there have been bipartisan efforts in Congress to end federal cannabis prohibition and establish regulations for eventual legalization, the DEA’s actions and statements indicate a potential stall or reversal of progress.

In addition to that, new research is adding complexity to the debate.

A study published in the American Journal of Psychiatry this past March highlights an association between the use of high-potency cannabis strains and increased risks of psychosis, a factor that may not have been fully considered by the Department of Health and Human Services. As stronger cannabis strains become more widely available, a reassessment of their potential health risks may be required.

Investor takeaway

While the cannabis industry holds promise for growth and innovation, investors must remain acutely aware of the regulatory uncertainties and market volatility that will undoubtedly shape its trajectory in the years to come.

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

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This post appeared first on investingnews.com

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Politics

White House celebrates ‘Star Wars Day’ with AI image of muscular Trump wielding a lightsaber

Politics 3 Mins Read

The White House slammed the ‘radical left’ in a social media post Sunday, showing an AI-generated image of President Donald Trump wielding a lightsaber in celebration of May the Fourth, or ‘Star Wars Day.’

May 4 has long been regarded as a day to celebrate the iconic movie franchise as fans post on social media ‘May the Fourth be with you,’ an offshoot of the memorable Star Wars quote ‘May the force be with you.’

On Sunday, the White House took an opportunity to celebrate the popular day with a post on X, while also taking digs at the Trump administration’s biggest critics.

‘Happy May the 4th to all, including the Radical Left Lunatics who are fighting so hard to bring Sith Lords, Murderers, Drug Lords, Dangerous Prisoners, & well known MS-13 Gang Members, back into our Galaxy. You’re not the Rebellion—you’re the Empire,’ the White House wrote. ‘May the 4th be with you.’

The post included an AI-generated image of Trump, who not only donned a Jedi robe and set of ripped arms but also held a red lightsaber. Behind him in the image were two bald eagles and two American flags.

The post received mixed reactions.

‘Our efforts to FOIA info about a reported ‘Death Star’ have been stonewalled. And we pulled The Honorable Darth Vader as a judge when we sued so THAT will go nowhere,’ a user wrote.

Another user asked X’s AI feature Grok what the meaning of a red lightsaber is in Star Wars. Those who follow the science fiction franchise will remember Darth Vader, Kylo Ren and others associated with the dark side or Sith powers used a red lightsaber of some sort.

The Star Wars fandom website Wookieepedia explains that in the process of making a lightsaber, negative emotions like rage, hate, fear and pain would result in a red hue.

‘How do you not have one nerd on staff to tell you what color lightsaber is good and what color is bad???’ a user asked in reaction to the White House post.

But supporters of the president were quick to respond to reactions about the color of the lightsaber Trump is holding in the image.

‘People arguing Trump using a red lightsaber equates him to evil…R ed is literally one of the three colors in our nation’s flag,’ a user wrote. ‘He is the leader of the Republican Party which is often ascribed the color Red. Context matters.’

Fox News Digital has reached out to the White House for comment on the matter.

Still, the White House was not the only federal government agency to have fun with May the Fourth.

The U.S. Army Pacific posted an AI-generated image to social media of two soldiers with lightsabers – one holding red and the other holding a red, white and blue weapon – walking into combat at night, with the Milky Way Galaxy behind them.

‘Across every galaxy – known and unknown – no force rivals our discipline, strength, and precision,’ the post read. ‘We don’t just defend the world. We protect the future. Victory is forged not found. May the 4th be with you.’

This post appeared first on FOX NEWS

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