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Westport Fuel Systems Inc. (TSX: WPRT Nasdaq: WPRT) (‘Westport’ or the ‘Company’) announces that the Company will release Q1 2025 financial results on Tuesday, May 13, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, May 14, 2025.

Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI73bcac200e5f4652873668cf803d72ed
Webcast: https://investors.wfsinc.com

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com .

Annual General and Special Meeting

Westport will host its 2025 Annual General and Special Meeting (the ‘Meeting’) virtually on May 15, 2025 at 10:00 a.m. PT (1:00 p.m. ET).

To streamline the virtual meeting process, Westport encourages shareholders to vote in advance of the Meeting using the voting instruction form or the form of proxy which has been shared with shareholders with the Meeting materials. Further instructions on voting and accessing the meeting are contained in the Management Information Circular under ‘Section 1: Voting’ – upon receipt, please review these materials carefully.

Registered Shareholders and duly appointed proxyholders can attend the meeting online at https://meetnow.global/MD2JR55 to participate, vote, or submit questions during the meeting’s live webcast.

About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

News Provided by GlobeNewswire via QuoteMedia

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On April 17 (Thursday), Judge Leonie Brinkema of the US District Court for the Eastern District of Virginia ruled against Google (NASDAQ:GOOGL) in the antitrust case concerning its advertising technology business, casting a shroud of uncertainty over the future of the tech giant’s online advertising business.

Brinkema will now need to determine what remedies to impose on Google to restore fair market competition. The plaintiffs sought to force Google to divest its Ad Manager, which includes the company’s publisher ad server and its ad exchange, to restore competition in the market. This outcome is far more likely following Judge Brinkema’s ruling.

This is a developing story happening alongside a similar case against Meta Platforms (NASDAQ:META), which is being sued by the Federal Trade Commission (FTC) for allegedly monopolizing social media through its acquisition of Instagram in 2012 and WhatsApp in 2014.

This trial against Google began in September 2024, and the plaintiffs in the lawsuit comprise the Department of Justice (DOJ) and attorneys general from eight states.

The plaintiffs argued that Google’s dominance in ad tech allowed it to charge higher prices and take a larger share of ad sales. They accused Google of stifling competition by controlling the technology used to place ads on websites across the internet.

The ruling against Google marks a significant step in one of numerous anti-competitive cases brought against Google in the past few years, both in the US and internationally.

It follows an earlier ruling in August 2024 in which Google was found to have an illegal monopoly in the online search market in the US. That case will move into the remedies phase next week, with a court date of April 21, 2025.

“This is a game-changer,” wrote Connecticut Attorney General William Tong, one of the plaintiffs in both cases. “As Judge Brinkema writes in her decision, Google was in direct violation of the Sherman Act by dictating how digital ads are sold and the terms under which its rivals can compete.

‘With this victory in hand, we can hopefully work now towards restoring a fair, free, and competitive digital advertising marketplace. This decision is the first step in opening up competition so that Connecticut businesses and consumers will pay less for advertising – and therefore less for goods and services. We will no longer be under the thumb of a gigantic multinational conglomerate.”

US District Judge Amit Mehta, who ruled against Google in the August 2024 case, has considered imposing structural remedies that could involve forcing Google to divest its Chrome business, although Google has argued divestiture would hurt consumers. Instead, the company has suggested allowing browser companies to have multiple default agreements with various search engines.

Regulators have been digging into various aspects of Google’s business, including its advertising technology, search practices and mobile operating system.

In addition to the current case, Google is also facing scrutiny from antitrust regulators in Europe, the UK and other jurisdictions. The outcomes of these cases could have far-reaching implications for Google’s business model and the tech industry as a whole.

Today’s ruling signifies a major development in the ongoing scrutiny of Big Tech’s market dominance, which echoes efforts to dismantle AT&T’s (NYSE:T) phone monopoly in the 1980s. The eventual outcome of that case led to AT&T’s breakup into seven independent enterprises, which laid the groundwork for some of today’s major telecommunications and internet services providers, including Verizon (NYSE:VZ) and Lumen Technologies (NYSE:LUMN). It also gave cable companies like Comcast room to expand into internet services.

Whatever outcome Judge Brinkema decides, the ruling could reshape the online advertising landscape and have far-reaching implications for both the company and the broader tech industry.

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

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As gold and silver continue to prove their worth as sound investments, market participants should know how precious metals investments are taxed in the US.

While the majority of gold and silver investing comes with a certain degree of taxation, there are different levels of tax based on how market participants decide to invest in these precious metals, how long the investments are held for and the investors individual tax bracket.

Read on for a breakdown of the taxes associated with investing in gold and silver bullion, ETFs and stocks, as well as the forms involved with reporting precious metals investments.

In this article

    How are physical gold and silver taxed?

    Gold and silver bullion, coins and bars are seen as collectibles by the Internal Revenue Service (IRS) in the US. Thus, physical gold and silver, no matter the form, are subject to a higher rate of capital gains tax when they are sold. The same is true for fellow precious metals platinum and palladium.

    While long-term capital gains would typically carry a top bracket of 20 percent, collectibles can be taxed at a higher 28 percent.

    The total an investor will owe in capital gains tax when selling physical gold and silver is based both on their income bracket and the length of time they held the asset.

    The long-term capital gains tax on physical gold and silver is equal to an investor’s marginal tax rate, up to a maximum of 28 percent due to their status as a collectible, meaning those in higher tax brackets still only have to pay 28 percent on long-term gains from physical precious metals sales.

    It is worth noting that the 28 percent maximum is only for long-term capital gains, which applies to metals that an investor has held for more than one year. Short-term capital gains on precious metals held for less than one year are taxed at ordinary income rates.

    For example, a person in the highest tax bracket purchased 100 ounces of physical gold at US$1,800 per ounce and two years later sold their holdings for US$2,000 per ounce. While they are in the 37 percent tax bracket, they would pay 28 percent tax on the capital gains made from these sales. As they earned US$20,000 in capital gains, that would translate to US$5,600 in income tax.

    However, if the investor sold the gold at the same gain just 11 months after they purchased it, it would count as short-term capital gains, and the investor would be taxed at 37 percent and owe US$7,400.

    Investors who are in one of the tax brackets below 28 percent are taxed at the standard rate of their bracket when selling their solid gold and silver assets, whether they are held short- or long-term.

    Similarly to other investments, precious metals sold at a loss can be used to offset capital gains.

    How are gold and silver ETFs taxed?

    Like all other exchange-traded funds (ETFs), gold ETFs and silver ETFs act in the same manner as individual stocks, meaning that investing in these ETFs is similar to trading a stock on an exchange. There are two main types of gold and silver ETFs: those that track the prices of those metals and those that track gold or silver stocks.

    ETFs that follow metals prices provide exposure to either physical gold or silver, or gold or silver futures contracts. It is important to keep in mind that investing in these ETF platforms does not allow investors to own any physical gold or silver — in general, even an investment in an ETF that tracks physical gold or silver cannot be redeemed for the tangible metal.

    ETFs that invest in gold or silver companies provide exposure to gold- and silver-mining stocks, as well as gold- or silver-streaming stocks.

    In terms of taxation, capital gain taxes from selling gold and silver ETFs is determined by the ETF’s holdings, the investors tax bracket and how long they held the asset for.

    Funds will often supply investors with tax forms that they can use to fill out their income tax. The webpage for a fund should have a document describing how income tax is handled for that fund, which is worth reading before investing in it.

    Long-term capital gains from selling shares of gold and silver ETFs are subject to a 28 percent maximum federal income tax rate if they hold physical precious metals and 20 percent if they hold stocks. While long-term capital gains would typically be capped at 20 percent maximum rate. This is because the holdings are considered collectibles, as described in the section above. Short-term gains made from selling gold or silver ETFs are subject to a maximum federal rate of 37 percent.

    Additionally, these gains could get slapped with a 3.8 percent net investment income tax for high net-worth investors, and a state income tax may also apply.

    Futures-based commodity ETFs can come with their own set of rules that you can learn about here. Briefly, they are often taxed in a 60/40 hybrid, with 60 percent treated as long-term gains and 40 percent treated as short-term gains. Additionally, this is calculated at the end of each tax year, whether a sale is made or not.

    ETFs that hold stocks are taxed in the same way as traditional securities, which you can read more about below.

    How are gold and silver stocks taxed?

    In terms of tax on gold and silver stocks, long-term gains from selling are subject to the standard 20 percent maximum federal rate, while short-term gains will face a maximum federal rate of 37 percent. For investors in higher income brackets, there is the potential for gold and silver stock investments to also be hit with the 3.8 percent net investment income tax as well as state income tax.

    Unlike physical precious metals and ETFs that hold them, precious metals stocks are not classified as collectibles, which is why the long-term capital gains tax is capped at 20 percent instead of 28 percent.

    Stocks sold at a loss are important as well as they can be used to offset capital gains when filing income tax.

    How to report taxes on physical gold and silver investments

    Market participants who sell precious metals in the US for a profit are required to report that profit on their income tax return, regardless of whether or not the dealer has any reporting obligation.

    When selling gold and silver investments in the US, there are two different sets of reporting guidelines — one applies to the dealer through which a person sells and the other applies to the investor who is selling the asset.

    It is important to note that taxes on the sale of gold and silver will not be due the moment that the sale is made, and the tax bill for all of these sales is due at the same time as a standard income tax bill.

    For investors selling precious metals, capital gains or losses need to be reported on Schedule D of Form 1040 when making a tax return.

    Investors will first need to detail their precious metals transactions on Form 8949, including the length of time the investments were held. This form must be filed alongside Schedule D. Investors then use this information alongside the 28% Rate Gain Worksheet included in the Schedule D instructions.

    Depending on the type of metal being sold, Form 1099-B may have to be submitted to the IRS by the broker when the sale closes, as such transactions are considered income. As for when a broker will need to file Form 1099-B, there are specific rules that determine which sales of precious metals require the dealer to file this form that apply to transactions over a 24 hours period.

    For gold sales, reportable items include specific gold coins, including the 1 ounce Canadian Gold Maple Leaf and Gold Kruggerand, and gold bars and rounds of at least 0.995 fineness. As for quantity, only sales of more than 25 gold coins and or more than 1 kilogram in gold bars and rounds will require the form.

    Sales of 0.999 fine silver bars and rounds totaling over 1,000 ounces qualify. For silver coins, US coins with above 90 percent silver are reportable, but Silver American Eagle coins are not. Sales of silver coins exceeding US$1,000 will require a form.

    When it comes to selling gold and silver overseas, market participants must follow the laws as they apply to the sale of gold and silver investments in that particular country.

    The information in this article does not constitute tax advice, and investors should work with a tax professional or program to help them make sure everything is reported accurately.

    Securities Disclosure: I, Lauren Kelly, currently hold no direct investment interest in any company mentioned in this article.

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    The Trump administration announced sanctions against the International Bank of Yemen Y.S.C. (IBY) on Thursday for its financial support of Houthi terrorists.

    Along with the bank, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning key leaders of IBY, like its Chairman of the Board of Directors Kamal Hussain Al Jebry; Executive General Manager Ahmed Thabit Noman Al-Absi and Deputy General Manager Abdulkader Ali Bazara. By sanctioning IBY, the U.S. hopes to stop Houthi attacks on commercial ships in the Red Sea.

    ‘Financial institutions like IBY are critical to the Houthis’ efforts to access the international financial system and threaten both the region and international commerce,’ Deputy Secretary of the Treasury Michael Faulkender said. ‘Treasury remains committed to working with the internationally recognized government of Yemen to disrupt the Houthis’ ability to secure funds and procure key components for their destabilizing attacks.’

    Based in Sana’a, Yemen, the IBY is controlled by the Iran-backed Houthis and provides the group with access to the bank’s Society for Worldwide Interbank Financial Telecommunications (SWIFT) network to make international financial transactions, the Treasury said.

    The IBY, for instance, has allegedly aided Houthi businesses and officials to pursue oil on the SWIFT network, while also facilitating attempts by the terrorist group to evade sanctions oversight.

    Under Thursday’s sanctions, all property and interests in property of the leaders named, that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Additionally, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.

    OFAC’s regulations generally prohibit all transactions by U.S. persons or within, or transiting, the United States that involve any property or interests in property of designated or otherwise blocked persons. 

    U.S. State Department spokesperson Tammy Bruce spoke about the sanctions during a press briefing Thursday, sending a message to anyone who supports foreign terrorist organizations like the Houthis.

    ‘The United States is committed to disrupting the Houthi financial networks and banking access as part of our whole-of-government approach to eliminating Iran’s threat network,’ she said. ‘Moreover, we can confirm the reporting that Chang Guang Satellite Technology Company Limited (CGSTL) is directly supporting Iran-backed Houthi terrorist attacks on U.S. Interests. Their actions and Beijing’s support of the company, even after our private engagements with them, is yet another example of China’s empty claims to support peace.

    She continued, urging partners of the U.S. to judge the Chinese Communist Party and Chinese companies on their actions, and not just their words.

    ‘Restoring freedom of navigation in the Red Sea is a priority to President Trump,’ Bruce said. ‘Beijing should take this priority seriously when considering any future support of CGSTL. The United States will not tolerate anyone providing support to foreign terrorist organizations such as the Houthis.’ 

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    President Donald Trump said Thursday that China has been reaching out ‘a lot’ ever since he nearly tripled U.S. tariffs on Chinese imports, and he suggested to reporters that the two nations could reach a deal in as soon as three to four weeks. 

    During a gaggle with reporters after signing executive orders related to deregulating the seafood industry, Trump was asked about his ongoing negotiations with Chinese officials and, in particular, whether he has yet spoken to Chinese President Xi Jinping about the ongoing trade battle.

    ‘They have reached out a number of times,’ Trump said, referring to high-level Chinese officials. When asked how frequently they’ve been in touch since last week – after Trump tripled his Chinese tariff increase from 54% to 145% – the president responded, ‘A lot.’

    His comments come amid media reports that Trump has indicated he is unwilling to reach out to China first amid the ongoing trade war. According to sources close to Trump, U.S. officials have been urging the Chinese to initiate a call between Xi and Trump, but so far they have not.    

    When asked if he had spoken to Xi yet, Trump would not confirm one way or the other.

    ‘I’ve never said whether or not [it’s] happened, but I have a very good relationship with President Xi, and I think it’s going to continue. They have reached out a number of times,’ Trump told reporters. 

    The press then quickly pounced on Trump’s response, requesting the president to clarify if he was referring to Xi or other Chinese officials when he said, ‘They have reached out a number of times.’

    ‘I view it very similar,’ Trump responded. ‘It would be top levels of China, and if you knew [Xi], you would know that if they reached out, he knew exactly – he knew everything about it. He runs it very tight, very strong, very smart. And, yeah, we’re talking to China.’

    The president said that while some have urged him to fast-track his negotiations, he believes there is ‘plenty’ of time left to make a deal with China and expects it will eventually come to fruition.

     

    ‘I would think over the next three or four weeks, I think maybe the whole thing could be concluded,’ Trump told reporters Thursday. 

    The president added that if a deal cannot be reached, things will ‘be fine.’

    ‘At a certain point, if we don’t make a deal, we’ll just set a limit. We’ll set a tariff. We’ll set some parameters, and we’ll say, ‘Come in and shop,” Trump said. ‘They always have a right not to do it, so they can say, ‘Well, we don’t want it, so we’re not going to shop there, we’re not going to shop in the store of America.’ We have something that nobody else has, and that’s the American consumer.’

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    A federal judge in Baltimore issued a preliminary injunction Thursday restricting the Department of Government Efficiency’s access to Social Security data. 

    U.S. District Judge Ellen Hollander, an Obama appointee, said DOGE-affiliated staffers must purge any of the non-anonymized Social Security data that they have received since Jan. 20. They are also barred from making any changes to the computer code or software used by the Social Security Administration, must remove any software or code they might have already installed, and are forbidden from disclosing any of that code to others.

    The injunction does allow DOGE staffers to access data that’s been redacted or stripped of anything personally identifiable, if they undergo training and background checks. 

    ‘The objective to address fraud, waste, mismanagement, and bloat is laudable, and one that the American public presumably applauds and supports,’ Hollander wrote in the ruling issued late Thursday night. ‘Indeed, the taxpayers have every right to expect their government to make sure that their hard earned money is not squandered.’

    But that’s not the issue, Hollander said — the issue is with how DOGE, led by billionaire Elon Musk, wants to do the work.

    ‘For some 90 years, SSA has been guided by the foundational principle of an expectation of privacy with respect to its records. This case exposes a wide fissure in the foundation,’ the judge wrote.

    The case was brought by a group of labor unions and retirees who allege DOGE’s recent actions violate privacy laws and present massive information security risks. 

    During a federal court hearing Tuesday in Baltimore, Hollander repeatedly asked the government’s attorneys why DOGE needs ‘seemingly unfettered access’ to the agency’s troves of sensitive personal information to uncover Social Security fraud.

    ‘What is it we’re doing that needs all of that information?’ Hollander said, questioning whether most of the data could be anonymized.

    Attorneys for the Trump administration said changing the process would slow down their efforts.

    ‘While anonymization is possible, it is extremely burdensome,’ Justice Department attorney Bradley Humphreys told the court. He argued the DOGE access doesn’t deviate significantly from normal practices inside the agency, where employees and auditors are routinely allowed to search its databases.

    But attorneys for the plaintiffs called it ‘a sea change’ in terms of how the agency handles sensitive information.

    Skye Perryman, President and CEO of the legal services group Democracy Forward, which is behind the lawsuit, said the ruling has brought ‘significant relief for the millions of people who depend on the Social Security Administration to safeguard their most personal and sensitive information.’ 

    Hollander made clear that her order didn’t apply to SSA workers who aren’t affiliated with DOGE, so they can still access any data they use in the course of ordinary work. But DOGE staffers who want access to the anonymized data must first undergo the typical training and background checks required of other Social Security Administration staffers, she said.

    Hollander, 75, is the latest judge to consider a DOGE-related case. Many of her inquiries Tuesday focused on whether the Social Security case differs significantly from another Maryland case challenging DOGE’s access to data at three other agencies: the Education Department, the Treasury Department and the Office of Personnel Management. In that case, an appeals court recently blocked a preliminary injunction and cleared the way for DOGE to once again access people’s private data.

    Hollander’s injunction could also be appealed to the 4th U.S. Circuit Court of Appeals, which sided with the Trump administration in other cases, including allowing DOGE access to the U.S. Agency for International Development and letting executive orders against diversity, equity and inclusion move forward.

    The Associated Press contributed to this report.

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    Why are President Donald Trump and his national security team focused on Panama and Greenland? 

    Donald Trump understands that modern threats – China’s predatory mercantilism and its massive military buildup, including the ability to destroy our reconnaissance satellites in orbit – requires an urgent reinvigoration of the 200-year-old Monroe Doctrine.

    The Monroe Doctrine, America’s fundamental national security imperative, seeks to exclude outside powers from the Western Hemisphere. It is key to protecting the U.S. and our neighbors from China’s malicious designs. 

    Trump understands that Greenland and Panama aren’t merely the key in any potential conflict with China, they are key to deterring China from conflict in the first place.

    During WWII and the Cold War, prior to the advent of near-global real-time overhead satellite coverage, America maintained forward bases in a string from Hawaii to Alaska to Canada to Greenland to Puerto Rico to Panama. These bases hosted naval assets, electronic listening posts, early warning radars and airfields for patrol aircraft. 

    The forward presence not only protected the American heartland, but it also served to guard the sea lanes needed for trade and to support our allies in Europe and Asia. 

    Trump recognizes the shifting geopolitical landscape, with China’s rise posing a new challenge to U.S. dominance in the Western Hemisphere – and a secure homeland. In 2019, he expressed interest in purchasing Greenland from Denmark, citing its vast natural resources and strategic Arctic location. This is more relevant than ever, with the Northwest Passage becoming increasingly accessible due in part to Russia and China’s rapidly growing heavy icebreaker fleet. 

    Similarly, Trump and Secretary of Defense Pete Hegseth are taking significant steps to secure the Panama Canal – with full cooperation from the Panamanian government. 

    The Panama Canal is a vital artery for global trade and military logistics. But in 1997, just before Britain handed over Hong Kong to China, Hutchison Whampoa, a Hong Kong-based shipping and logistics firm, bought the concession that privatized operations of the Panama Canal. 

    When, in 2020, China ended the ‘one country, two systems’ model with Hong Kong, it meant for all intents and purposes that Hutchison Whampoa (now known as CK Hutchison) must do the Chinese Communist Party’s bidding. This greatly increases the risk to the Panama Canal – and it’s why the firm, reacting to pressure from Panama and the U.S., agreed to sell its global assets to an American holding company. That proposed sale was quickly threatened by the Chinese Communist Party, which instituted an ‘antitrust review.’

    Just to be sure, the Trump White House directed the U.S. military to develop options for increasing troop presence in Panama to ensure ‘unfettered’ access to the canal, reflecting concerns about ongoing Chinese threats to the canal’s operation. 

    Strategic Importance in a Conflict with China

    The strategic importance of Greenland and Panama is heightened in the context of a potential conflict with China, particularly if America’s extensive network of reconnaissance and nuclear missile early warning satellites are destroyed by China in its opening attack. Modern warfare relies heavily on satellite technology for communication, navigation and intelligence gathering. 

    If these assets are compromised, the U.S. would need to rely on traditional methods, such as long-range patrol aircraft and naval vessels, operating from forward bases. Greenland, with its airfields and ports, provides an ideal location for staging operations in the Arctic, deploying assets like the P-8 Poseidon to monitor submarine activity and secure shipping routes. 

    The Panama Canal, meanwhile, ensures rapid deployment of naval forces between the Atlantic and Pacific Oceans, maintaining flexibility in military operations.

    This focus on forward bases aligns with the need to defend the homeland and secure vital shipping lanes critical for global trade and military logistics despite enemy efforts. China’s growing naval capabilities, including advanced submarines and aircraft carriers, necessitate robust strategic positioning to deter potential threats and maintain maritime routes.

    Historical Parallels: WWII and Cold War Operations

    Historical precedents underscore the importance of forward bases in national defense. During WWII, the U.S. established the Caribbean Defense Command – forerunner to today’s U.S. Southern Command – to protect the Panama Canal and monitor German U-boat activity in the Atlantic. Bases in Trinidad, Brazil and Puerto Rico were instrumental in anti-submarine warfare, ensuring the flow of supplies to Europe and preventing Axis powers from gaining a foothold in the Americas. 

    During the Cold War, the U.S. maintained a significant military presence in Latin America to counter Soviet influence. Today, in Cuba, what’s old is new again, as China has occupied and upgraded the massive Cold War-era Soviet eavesdropping base at Lourdes. From that perch, China can listen to every cellphone conversation in the American Southeast. 

    The Broader Challenge

    Beyond Greenland and Panama, China’s activities in the Western Hemisphere, such as its Belt and Road Initiative infrastructure projects – some serving as replenishment ports for its navy – pose a direct challenge to U.S. interests and regional security. Along with the malevolent presence of Iran’s proxy, Hezbollah, and hostile regimes such as Maduro’s Venezuela, Trump’s team has a big task to clean up decades of neglect in the Western Hemisphere. 

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    The Department of Health and Human Services (HHS) is probing ‘a major pediatric teaching hospital’ over the alleged firing of a nurse who sought a religious exemption to avoid administering puberty blockers and cross-sex hormones to children.

    ‘The Department will robustly enforce federal laws protecting these courageous whistleblowers, including laws that protect healthcare professionals from being forced to violate their religious beliefs or moral convictions,’ Acting HHS OCR Director Anthony Archeval said in a statement.

    While HHS has not confirmed the hospital’s identity, it is believed to be Texas Children’s Hospital (TCH) — the largest children’s hospital in the U.S. — as the investigation follows whistleblower nurse Vanessa Sivadge’s testimony on Capitol Hill. Sivadge first came forward publicly in June 2024 and was later fired in August 2024.

    Sivadge told lawmakers that she had witnessed ‘disturbing trends and concerning practices’ relating to the treatment of children diagnosed with gender dysphoria. She also said that she ‘observed the powerful and irreversible effects’ of treatments that patients were told were ‘lifesaving.’ 

    ‘I witnessed firsthand how doctors emotionally blackmailed parents by telling them that if they did not affirm their child’s false identity, their child would harm themselves. In particular, I was saddened to see young girls suffering from profound mental health struggles like depression and anxiety, many of whom had also suffered sexual abuse or trauma, persuaded by doctors at Texas Children’s that a hormone would resolve their gender confusion,’ Sivadge told lawmakers.

    Dr. Eithan Haim, who was accused of violating HIPAA while in surgical training at Baylor College of Medicine, which is affiliated with TCH, also blew the whistle on the hospital for ‘lying about the existence of its transgender program.’ The Biden DOJ brought charges against Haim for the alleged HIPAA violations, but the case was ultimately dropped under the Trump administration.

    Haim claimed the hospital was engaging in fraudulent billing practices to hide the fact that it was carrying out transgender procedures on minors even though it was against Texas law. This included recording mastectomies as ‘breast reduction’ surgeries and billing testosterone prescribed to a teen girl under a male diagnosis.

    In her testimony, Sivadge said that federal agents came to her home when investigating the whistleblower, now known to be Haim, because of her objections to transgender medicine. She described the interaction as intimidating and said that one of the special agents ‘effectively asked me to compromise my Christian beliefs and made veiled threats regarding my career and safety if I didn’t comply with their demands.’

    Sivadge’s attorney filed a complaint with the U.S. Equal Employment Opportunity Commission (EEOC) on April 11, alleging that she ‘observed TCH doctors, after very little deliberation or critical analysis, embarking children on dangerous and often irreversible courses of ‘gender-affirming’ treatment.’

    According to the complaint, TCH ‘temporarily’ paused ‘gender-affirming services’ for minors after Texas Attorney General Ken Paxton said in February 2022 that such treatments could constitute child abuse. The treatments were banned in the state following the passage of a bill in May 2023, which went into effect in September 2023. According to Sivadge’s attorney, she asked to be transferred back to cardiology in May 2024, citing her religious beliefs. 

    Sivadge publicly blew the whistle on TCH on June 18, 2024, and was asked not to report to work the next day, according to the complaint. Just days later, on June 21, she was placed on administrative leave and was officially terminated in August 2024. TCH alleged that the termination of her employment was due to improper access to medical records.

    On Jan. 28, 2025, President Donald Trump signed the ‘Protecting Children from Chemical and Surgical Mutilation’ order, which prevents minors from undergoing transgender treatments. In accordance with this order, HHS has issued guidelines for prospective whistleblowers.

    Fox News has reached out to TCH and HHS for comment.

    This post appeared first on FOX NEWS

    Target CEO Brian Cornell will meet with the Rev. Al Sharpton this week in New York as the retailer faces calls for a boycott and a slowdown in foot traffic that began after it walked back key diversity, equity and inclusion programs, the civil rights leader told CNBC Wednesday.

    The meeting, which Target asked for, comes after some civil rights groups urged consumers not to shop at Target in response to the retailer’s decision to cut back on DEI. While Sharpton has not yet called for a boycott of Target, he has supported efforts from others to stop shopping at the retailer’s stores.

    “You can’t have an election come and all of a sudden, change your old positions,” said Sharpton. “If an election determines your commitment to fairness then fine, you have a right to withdraw from us, but then we have a right to withdraw from you.”

    The civil rights leader said he would consider calling for a Target boycott if the company doesn’t confirm its commitment to the Black community and pledge to work with and invest in Black-owned businesses.

    “I said, ‘If [Cornell] wants to have a candid meeting, we’ll meet,’” Sharpton said of the phone call Target made to his office. “I want to first hear what he has to say.”

    A Target spokesman confirmed to CNBC that the company reached out to Sharpton for a meeting and that Cornell will talk to him in New York this week. The company declined further comment.

    In January, Target said it would end its three-year DEI goals, no longer share company reports with external diversity-focused groups like the Human Rights Campaign’s Corporate Equity Index and end specific efforts to get more products from Black- and minority-owned businesses on its shelves. 

    Just days after the announcement, foot traffic at Target stores started to slow down. Since the week of Jan. 27, Target’s foot traffic has declined for 10 straight weeks compared to the year-ago period, according to Placer.ai, an analytics firm that uses anonymized data from mobile devices to estimate overall visits to locations. Target traffic had been up weekly year over year before the week of Jan. 27.

    The metric, which tallies visits to brick-and-mortar locations, does not capture sales in stores or online, but can indicate which retailers are drawing steadier business. While Target has been struggling to grow its sales for months as shoppers watch their spending, the stretch of declining visits came as some civil rights groups and social media users criticized the DEI decision and urged shoppers to spend their money elsewhere.

    Target declined to comment on the figures, saying it doesn’t discuss third-party data.

    At the convention earlier this month for his civil rights organization, the National Action Network, Sharpton said the group would call for a boycott of PepsiCo if the company didn’t agree to meet with the organization within 21 days. In February, the food and beverage company behind brands like Doritos and Mountain Dew announced it would end its DEI workforce representation goals and transition its chief DEI officer role into another position, among other changes.

    This week, leaders from Pepsi met with Sharpton and his team. He did not confirm whether Pepsi made any commitments, but did say it was encouraging that Pepsi’s CEO Ramon Laguarta attended. He added that the two will continue their discussions.

    Sharpton’s meetings with companies including PepsiCo and Target — and his openness to boycotts — mark one of the first meaningful efforts to push back against the war conservative activists like Robby Starbuck have waged on DEI. Starbuck, a movie director-turned-activist, has urged companies to drop DEI policies in part by sharing what he considers unflattering information about their initiatives with his social media followers. He has successfully pressured a wide range of corporate giants to rethink their programs.

    With its decision to roll back DEI efforts, the cheap chic retailer Target joined Walmart, McDonald’s, Tractor Supply and a slew of others that scrapped at least some DEI initiatives as they grew concerned that the programs could alienate some customers or land them in the crosshairs of President Donald Trump, who has vowed to end every DEI program across the federal government.

    Target’s decision contrasted with Costco, which shook off pressure from conservative activists to maintain its DEI programs. Shareholders of the membership-based wholesale club soundly rejected a proposal in late January that requested a report on the risks of DEI initiatives.

    NAN has called for so-called “buy-cotts” at Costco, and has brought people to stores in Tennessee, New York and New Jersey. It gave them gift cards to shop with at the warehouse club.

    In the month of March, Target’s store traffic declined 6.5%, while the metric rose 7.5% year over year at Costco, Placer.ai data show.

    Target’s challenges run deeper than DEI backlash, and resistance to its policy change only added to its issues. The discounter’s annual revenue has been roughly flat for four years in a row as it’s struggled to drive consistent sales gains.

    Margins have been under pressure, as consumers buy more of groceries and necessities and less of more profitable categories like home goods and clothing. And the company has pinned its problems on a laundry list of problems in recent years, including having the wrong inventory; losing money from theft, damaged goods and other types of inventory losses; backlash to its collection for Pride Month and pricier costs from rushing shipments.

    Competition has grown fiercer too, as big-box rival Walmart has remodeled stores, launched new private brands and attracted more high-income shoppers.

    In February, Target gave weak guidance for the first quarter and said it expected sales to grow 1% for the full year. 

    In his meeting with Cornell, Sharpton said he will ask for Target to follow through on pledges it made after police killed George Floyd in the company’s hometown of Minneapolis.

    “You made commitments based on the George Floyd movement … what changed?” said Sharpton. “Are you trying to say … everything’s fine now, because the election changed? That’s insulting to us.”

    In the wake of Floyd’s murder, Cornell said the event moved him.

    “That could have been one of my Target team members,” Cornell said in 2021 at an event hosted by the Economic Club of Chicago, recounting his thoughts as he watched the video of Floyd taking his final breaths.

    At the time, he said it motivated him to step up Target’s efforts to fight racial inequities.

    “We have to be the role models that drive change and our voice is important,” he said at the event. “We’ve got to make sure that we represent our company principles, our values, our company purpose on the issues that are important to our teams.”

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    French luxury group Hermès will raise its U.S. prices from the start of May in order to offset the impact of President Donald Trump’s tariffs, the company’s finance chief said Thursday.

    The company — which earlier this week overtook rival LVMH as the world’s biggest luxury firm by market capitalization — is best-known for its Birkin and Kelly handbags, along with colorful scarves retailing for hundreds of dollars. Other products include jewelry, watches, shoes, perfume and make-up.

    “The price increase that we’re going to implement will be just for the U.S. since it’s aimed at offsetting the tariffs that only apply to the American market, so there won’t be price increases in the other regions,” Eric du Halgouët, Hermès’ executive vice president for finance, said during an analyst call that followed the firm’s first-quarter results release on Thursday.

    Hermès said prices will rise from May 1 and aim to “fully offset” the impact of the universal 10% tariff imposed by the White House in early April, rather than the 20% duties the European Union may face unless it can negotiate a new deal during Trump’s 90-day reprieve.

    U.S. consumers are expected to contend with higher prices on a host of items, ranging from electronics and clothes to cars and houses, as the impact of tariffs bites.

    In its first-quarter results, Hermès reported 11% sales growth in the Americas, which accounted for nearly 17% of its sales revenue in the first three months of the year.

    First-quarter revenue growth came in at 7% on a constant currency basis overall, just shy of consensus expectations of an 8% to 9% increase, Deutsche Bank analysts said in a note. It also represented a slowdown from 17.6% growth in the fourth quarter of 2024.

    The Deutsche Bank analysts said that the results were nonetheless “robust,” with weakness driven by watches and perfume sales, while Citi described them as “a respectable outcome.”

    Hermès shares dipped 1.3% in Thursday morning deals, taking its value to 244.5 billion euros ($278.2 billion) — just shy of LVMH’s 245.7 billion euros — according to a CNBC calculation of LSEG data.

    LVMH, controlled by France’s billionaire Arnault family, unsuccesfully tried to acquire Hermès a decade ago. Despite drawing level in market cap, Hermès’ annual revenue is less than a fifth that of sprawling LVMH, which owns luxury brands Louis Vuitton and Dior, alcohol business Moët Hennessy, U.S. jeweler Tiffany and beauty chain Sephora.

    LVMH on Tuesday reported an unexpected decline in first quarter sales, flagging a fall in its dominant fashion and leather goods division.

    Analysts have predicted the luxury sector will be less impacted by tariffs than other retailers due to their ability to pass on increased import costs to a high-spending clientele. However, they would encounter major headwinds from a broad pullback in consumer spending as a result of weaker global economic growth or recessionary fears.

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