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NVIDIA (NASDAQ:NVDA) became the first publicly traded company to hit a US$4 trillion market cap this week.

Meanwhile, Apple (NASDAQ:AAPL) made headlines with a major leadership change as rumors of a lineup of upcoming product releases circulated, and Meta Platforms (NASDAQ:META) deepened ties with one of its hardware partners.

In the chip market, Huawei is trying to capitalize on the gap left by NVIDIA’s chips in China, while a startup is stepping up its efforts to help meet its ambitious plans to expand artificial intelligence (AI) chip delivery to Saudi Arabia.

1. Apple announces leadership shift

On Tuesday (July 8), Apple announced that Jeff Williams, its longtime chief operating officer, will retire at the end of 2025, ending a tenure that spanned decades and included overseeing hardware, software and operations.

“Jeff and I have worked alongside each other for as long as I can remember, and Apple wouldn’t be what it is without him,” said Apple CEO Tim Cook in a press release. “He’s helped to create one of the most respected global supply chains in the world; launched Apple Watch and overseen its development; architected Apple’s health strategy; and led our world-class team of designers with great wisdom, heart, and dedication.’

Williams will be succeeded by Sabih Khan, Apple’s senior vice president of operations, who has played a key role in managing Apple’s global supply chain.

In other Apple news, Bloomberg reported on Wednesday (July 9) that Apple plans to release its first hardware upgrade to the Vision Pro headset later this year. Anonymous sources say the upgrades will include a a new strap for added comfort, will incorporate the same M4 processor powering newer versions of the iPad Pro, MacBook Pri and iMac, and will incorporate a great number of cores in the neural engine to run AI more effectively.

The company is also working on a lighter version slated for release in 2027, according to the people.

The company is planning a series of product upgrades for the first half of 2026, including a new entry-level iPhone 17e, refreshed MacBook Pros and MacBook Airs with M5 chips and potentially a new external display, according to multiple reports this week. Entry-level iPad and iPad Air will reportedly also receive updates.

2. Meta makes eyewear bet

Meta acquired a nearly 3 percent stake in luxury eyewear maker EssilorLuxottica (EPA:EL), the creator of Ray-Bans and the manufacturing partner for Meta’s smart glasses, including the Ray-Ban Meta and Oakley Meta lines. This is according to a Tuesday report from Bloomberg that cites unnamed sources with knowledge of the matter.

The stake is reportedly worth around 3 billion euros. According to the people, Meta is considering increasing its stake to approximately 5 percent “over time,” but noted that the plans could change.

3. Huawei seeks to step in amid US restrictions

Huawei is reportedly developing a new class of AI chips designed to support more generalized AI workloads, according to the Information, which broke the news on July 5.

According to the report, Huawei’s chip will be built around an architecture resembling that of NVIDIA’s GPU architecture (like Hopper or Blackwell) and Advanced Micro Devices’ CDNA architecture (used in their Instinct GPUs), which would allow Chinese developers to seamlessly incorporate the alternative.

Huawei’s pivot reflects China’s broader effort to bolster domestic chip capabilities as export restrictions from the US limit its access to advanced semiconductors. NVIDIA’s highly sought-after Blackwell GPUs are difficult for Chinese developers to legally acquire, leading to the development of downgraded, China-specific versions and a drive by Chinese firms to secure the chips through other means or source high-end alternatives.

Illustrating these efforts, recent Bloomberg analysis reveals ambitious plans by Chinese companies to acquire over 115,000 high-end NVIDIA chips for dozens of new AI data centers rising in the remote desert regions of Yiwu.

4. Harmonic raises US$100 million for ‘Superintelligence’

Harmonic AI, a stealth-mode AI company co-founded by Robinhood (NASDAQ:HOOD) CEO Vlad Tenev, has raised US$100 million in a Series B funding round led by Kleiner Perkins. Sequoia Capital, Index Ventures and Paradigm also participated in the round, which brought the company’s valuation to US$875 million.

Founded in 2023 by Tenev and Tudor Achim, who previously led autonomous driving startup Helm.ai, the startup is focused on building “smarter” AI models using a concept it calls “Mathematical Superintelligence.’

Its flagship model, Aristotle, is being trained to generate answers grounded in formal mathematical logic. On Bloomberg News, Tenev has said the company’s goal was to build AI systems that can solve the type of complex math problems that currently elude chatbots, eventually expanding its capabilities to physics and computer science.

Harmonic also aims to eliminate chatbot hallucinations through formal verification, a mathematical method that guarantees correct AI system function.

The startup wants to make the model available to researchers and the general public later this year.

5. Groq seeks US$6 billion valuation to fuel Saudi AI ambitions

The Information reported on Wednesday that Groq, a US-based AI chip startup and challenger to NVIDIA, is seeking to raise between US$300 million and US$500 million in a new funding round that would value it at US$6 billion.

Groq’s language processing units (LPUs) are known for their fast inferencing technology.

Unlike general-purpose GPUs, which were originally made for graphics and then adapted for AI, Groq’s LPUs were designed specifically to process language.

According to the report, the funding would help Groq fulfill a US$1.5 billion deal to deliver advanced AI chips to Saudi Arabia. With its ambitious Vision 2030, Saudi Arabia is actively pursuing a role as a global AI and technology hub, driving its interest in obtaining cutting-edge chips.

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

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Investing

Sun Summit Commences Drilling and Provides Exploration Update from the JD Project in BC’s Toodoggone District

Sun Summit Minerals Corp. (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) (‘Sun Summit’ or the ‘Company’) is pleased to provide an update from its ongoing project-wide exploration program at the JD Project, Toodoggone Mining District, north-central British Columbia (the ‘JD Project’). Drilling has now commenced with over 5,000 meters of drilling planned.

Highlights:

Drilling has now started: The drill rig is currently advancing the first hole on the northwestern extent of the Creek Zone. Up to 3,000 meters of drilling is planned at the Creek Zone designed to investigate the extent and continuity of near-surface, high-grade and bulk-tonnage gold mineralization. Historical and recent highlight intercepts include:
- 122.53 m of 2.11 g/t Au including 1.5 of 121.0 g/t Au (CZ-24-004⁷)
- 54.95 m of 2.69 g/t Au including 19.50 m of 7.31 g/t Au (CZ-24-005⁸)
- 22.0 m of 11.7 g/t Au including 4.0 m of 61.2 g/t Au (CZ97-008⁵)
Up to 2,000 meters of drilling planned at the Finn Zone to be completed following the Creek Zone drilling: Holes are designed to evaluate the extent and continuity of high-grade and bulk-tonnage gold mineralization. Historical highlight intercepts include:
- 35.7 m of 7.26 g/t Au including 1 m of 215.4 g/t Au (JD95-047²⁾
- 25.9 m of 6.42 g/t Au including 6.1 m of 12.8 g/t Au (JD94-015¹)
- 22.0 m of 6.32 g/t Au including 12.6 m of 10.8 g/t Au (JD12-003³)
Project-wide exploration activities focused on drill target refinement are ongoing, including:
- Over 20-line km of induced polarization (IP) geophysics has been completed along the JD Porphyry Trend.
- Over 1,000 soil samples have now been collected across the Belle South grid, the southern extent of the JD Porphyry trend.
- Geological mapping and prospecting are ongoing with a current focus on McClair Creek which transects the JD Porphyry Trend. Mapping has also been completed along the Finn to Creek Corridor as well as the Oxide Peak West target.

‘It’s exciting to see the drill rig turning on the first hole of our fully funded $6 million exploration program,’ said Niel Marotta, CEO of Sun Summit Minerals. ‘This year’s campaign is focused on advancing and expanding the Creek and Finn gold-silver targets, while also generating and refining new priority targets across the JD Project. With several large regional programs underway in the northern Toodoggone, we expect a steady stream of news throughout the season, including drill results from our own aggressive 5,000 metre program.’

JD Exploration Program

The primary exploration goals at the JD Project are to advance and expand the Creek and Finn gold-silver targets and to generate and refine new priority targets across the project. Work is currently focused on the highly prospective 4.5 km long epithermal-related Finn to Creek corridor, as well as the 12 km long JD Porphyry trend (Figure 2).

Drilling update: Drilling has now commenced with the rig advancing the first hole of the program at the Creek Zone. Up to 3,000 meters of drilling is planned at the Creek Zone with holes designed to investigate the extent and continuity of near-surface, high-grade and bulk-tonnage gold mineralization (e.g., 122.53 m of 2.11 g/t Au including 1.5 of 121.0 g/t Au in CZ-24-004⁷ and 22.0 m of 11.7 g/t Au including 4.0 m of 61.2 g/t Au in CZ97-008⁵_,Figure 3). Following completion of the Creek Zone holes, the drill rig will move to the Finn zone where up to 2,000 meters of drilling is planned with holes designed to evaluate the extent and continuity of near-surface high-grade and bulk-tonnage gold mineralization (Figure 4).

Target generation update: Project-wide exploration activities aimed at target generation and drill target refinement are ongoing, including:

Over 20-line km of induced polarization (IP) geophysical surveying has been completed along the JD Porphyry trend east of the Finn Zone. Additional surveying is planned across parts of the Finn to Creek corridor to infill historical gaps.
Over 1,000 soil samples have now been collected across the Belle South grid, southern extent of the porphyry trend (Figure 2). Once complete, sampling will continue across the Kadah grid which covers a highly prospective area south of the Finn to Creek corridor lacking historical soil coverage.
Geological mapping and prospecting are ongoing with a current focus on McClair Creek which transects the JD Porphyry trend. Mapping has also been completed along the Finn to Creek corridor as well as the Oxide Peak West target. Mapping will continue east towards the East McClair target (Figure 2).

Timeline: Drilling and complementary exploration activities are anticipated to continue into September.

Figure 1.Map of the Toodoggone District showing the location of the JD Project in relation to other development and exploration projects. Data sourced from Thesis, TDG and Centerra’s corporate websites.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/258684_8e19fa8484293969_001full.jpg

Figure 2. Map of the JD Project showing the broad JD Porphyry trend and the epithermal-related Finn to Creek Corridor. Planned areas for IP and soil surveys are shown in grey. Key targets are highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/258684_8e19fa8484293969_002full.jpg

Figure 3. Map of the Creek Zone showing drill collar locations with selected highlights. The area targeted for 2025 drilling is outlined in red. See references below for data sources.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/258684_8e19fa8484293969_003full.jpg

Figure 4.Map of the Finn Zone showing historical drill collar locations with selected highlights. The area targeted for 2025 drilling is outlined in red. See references below for data sources.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/258684_8e19fa8484293969_004full.jpg

National Instrument 43-101 Disclosure and Disclaimer

This news release has been reviewed and approved by Sun Summit’s Vice President Exploration, Ken MacDonald, P. Geo., a ‘Qualified Person’ as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The historical technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples. Historical results are no indication of future results.

Community Engagement

Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.

About the JD Project

The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold’s Lawyers and Ranch projects, TDG Gold’s Baker-Shasta projects, Amarc Resources’ AuRORA project, Centerra Gold’s Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.

The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.

The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.

About Sun Summit

Sun Summit Minerals (TSX-V: SMN; OTCQB: SMREF) is a mineral exploration company focused on the discovery, expansion and advancement of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD and Theory projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

References

Hawkins, P.A. (1998), 1997 Exploration Report on the Creek Zone for Antares Mining and Exploration Corporation and AGC Americas Gold Corporation, JD Property, Toodoggone River Area, Omineca Mining Division, Internal Report #98-065-1.

Link to Figures

Figure 1: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/06/SMN_JD_Plans_20250618_Fig-1.jpg

Figure 2: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/06/SMN_JD_Plans_20250618_Fig-2-scaled.jpg

Figure 3: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/06/SMN_JD_Plans_20250618_Fig-3-scaled.jpg

Figure 4: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/06/SMN_JD_Plans_20250618_Fig-4-scaled.jpg

On behalf of the board of directors

Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com

For further information, contact:

Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as ‘anticipate’, ‘will’, ‘expect’, ‘may’, ‘continue’, ‘could’, ‘estimate’, ‘forecast’, ‘plan’, ‘potential’ and similar expressions. Forward-looking statements contained in this news release may include, but are not limited to the size and scope of the drill program at the JD Project; the Company’s exploration plans, forecasts and timing of said plans; and the potential for positive findings, if any, from the drill program. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the Company’s ability to complete the drill program as currently contemplated; risks inherent in exploration activities; the ability of the Company to find and verify any mineralization; volatility and sensitivity to market prices; fluctuations in metal prices. The forward-looking statements contained in this news release are made as of the date hereof or the dates specifically referenced in this news release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Further details about the risks applicable to the Company are contained in the Company’s public filings available on SEDAR+ (www.sedarplus.ca), under the Company’s profile.

Neither the TSX Venture Exchange (the ‘TSXV‘) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258684

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Investing

Apollo Silver Enters into Investor Relations Agreement

Apollo Silver Corp. (‘ Apollo ‘ or the ‘ Company ‘) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has entered into an investor relations agreement (the ‘Agreement’) with Matthews Investments, to provide investor relations services to the Company, as defined in accordance with the policies of the TSX Venture exchange (‘TSXV’) and applicable securities laws. Matthews Investments will receive consideration of C$7000month, payable monthly in arrears, for an initial term of three months, with the option for the Company to renew on a quarterly basis thereafter.

Matthews Investments, a company based in Vancouver, British Columbia, provides IR consulting services for public companies. Founding CEO, Richard Matthews, is an IR expert with more than 15 years of experience and with deep expertise in the mining industry. He has held senior management and board roles at Canadian publicly listed companies and has run highly successful, international IR programs. Neither Matthews Investments nor any of its principals hold, directly or indirectly, any securities of Apollo, however, they have advised that they may participate in a future financing or acquire shares in the open market.

The Agreement is subject to the approval of the TSXV.

About Apollo Silver Corp.

Apollo has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com
Telephone: +1 (604) 428-6128

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Investing

Stallion Uranium Announces the Completion of Coyote Project 3D Gravity Inversion

Stallion Uranium Corp. (the ‘ Company ‘ or ‘ Stallion ‘ ) (TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0) is pleased to report the results from the 3D inversion of ground gravity data over the Coyote Target, located within the Southwestern Athabasca Basin Joint Venture (‘ JV ‘) Project in partnership with Atha Energy Corp. (‘Atha Energy’) (TSX-V: SASK) .

‘The inversion modelling at Coyote has delineated a laterally extensive and coherent gravity low, spatially coincident with a structurally complex corridor exhibiting attributes characteristic of fertile uranium-bearing systems within the Athabasca Basin,’ said Matthew Schwab, CEO of Stallion Uranium Corp. ‘The robustness of the geophysical anomaly, in conjunction with the structural and lithological setting, provides compelling evidence supporting Coyote as a high-priority target for drill testing.’

Highlights:

3D gravity inversion completed and interpreted by leading geophysical experts specializing in the Athabasca Basin

Identified multiple gravity-low anomalies along a major conductive corridor

A prominent, coherent gravity-low feature interpreted as a zone of alteration along an interpreted structural corridor

Strong correlation between the gravity anomalies and conductive breaks identified from the MobileMT survey

The inversion results highlight a gravity-low anomaly commonly associated with significant uranium mineralization systems in the Athabasca Basin. The modelled anomaly defines the low-density feature’s depth extent, shape, and continuity, further supporting the potential for large-scale uranium alteration at Coyote.

‘The 3D gravity inversion provides a powerful validation of the overall prospectivity at Coyote,’ said Darren Slugoski, Vice President, Exploration at Stallion Uranium. ‘The inversion highlights a series of at least five compelling targets within an 8.5 km corridor. We are well-positioned to take the next steps toward discovery with a subsequent ground EM survey (currently being interpreted by Convolutions Geoscience) in addition to a focused and systematic drill program.’

The inversion results visualize subsurface density variations, with the anomaly’s geometry and intensity suggesting prolonged fluid movement and alteration; critical vectors toward uranium mineralization. The alignment of the gravity-low with previously defined conductive trends and interpreted structural corridors underscores a compelling geological model. The results validate the exploration strategy at Coyote and refine the prioritization of drill targets based on integrated geophysical and structural frameworks.

Figure 1 : Results of Ground Gravity Density Inversion at the Unconformity Depth

Background; Regional First Vertical Derivative Magnetics, targets denoted by purple outlines

‘The 3D gravity inversion model at Coyote reveals a well-defined low-density anomaly that is both laterally extensive and vertically continuous,’ said Kyle Patterson, P. Geo., Principal Geophysicist at Convolutions Geoscience, a leading consulting firm specializing in advanced geophysical modelling and geologic integration. ‘This type of geophysical signature is commonly associated with deep-seated structural zones and extensive hydrothermal alteration; both key indicators in targeting basement-hosted uranium deposits in the Athabasca Basin. The spatial correlation with interpreted MobileMT conductors, observed alteration patterns, and interpreted shear zones further support the interpretation that the Coyote project hosts the ideal geological pathfinders for a significant uranium system.’

Figure 2 : Results of 3D Gravity Inversion

Conductors interpreted from previous MobileMT Survey

About Kyle Patterson:

Kyle Patterson, P. Geo., is the Chief Geophysicist and founder of Convolutions Geoscience, a geophysical consulting firm specializing in advanced modelling and interpretation techniques for mineral exploration. With over 15 years of experience in the industry and a focus on high-resolution geoscientific data integration in the Athabasca Basin, Kyle has worked extensively with uranium explorers to define and refine targets using gravity, magnetics, and EM inversion modelling. His expertise is in interpreting complex structural and alteration systems, bridging geophysics with geological understanding to drive discovery-focused exploration.

Gravity Data Inversion:

Convolutions Geoscience inverted the ground gravity data, utilizing industry-standard 3D inversion techniques to estimate subsurface density variations from the processed gravity data. The objective was to assist in delineating alteration zones of interest for uranium exploration.

Convolutions Geoscience carried out a 3D inversion of the gravity data to create a voxel product of subsurface density anomalies using the industry-standard Fullagar Vertical Prism Magnetic and Gravity (VPmg) codes. The inputs into the inversion were the free air anomaly from the dataset; lake bathymetry data for water depth; digital terrain model (DTM) for the project area, in addition to NASA Shuttle Radar Topography Mission (SRTM) data for surrounding areas; and density constraints for sandstone cover rocks above the unconformity as well as basement rocks below the unconformity. Convolutions created a VPmg gravity inversion using 40m x 40m surface XY blocks and Z blocks of 10m at the surface, increasing by 5% at depth. The total model block depth exceeds 10km.

Qualifying Statement:

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.

Kyle Patterson, P.Geo., President of Convolutions Geoscience, has reviewed the foregoing scientific and technical disclosures for Convolutions Geoscience Corporation. Kyle is a registered member of the Professional Engineers and Geoscientists of Saskatchewan and the Engineers and Geoscientists of British Columbia.

About Stallion Uranium Corp.:

Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly 1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.

Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com .

On Behalf of the Board of Stallion Uranium Corp.:

Matthew Schwab
CEO and Director

Corporate Office:
700 – 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6

T: 604-551-2360
info@stallionuranium.com

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, ‘forward-looking statements’) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ‘will likely result’, ‘are expected to’, ‘expects’, ‘will continue’, ‘is anticipated’, ‘anticipates’, ‘believes’, ‘estimated’, ‘intends’, ‘plans’, ‘forecast’, ‘projection’, ‘strategy’, ‘objective’ and ‘outlook’) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement .

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/f216b8e9-3d02-444b-855b-60f0a334a288

https://www.globenewswire.com/NewsRoom/AttachmentNg/78072d01-85ae-495d-b249-38a69824b43a

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Economy

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

LONDON/NEW YORK, July 11 (Reuters) – Suppliers to Walmart WMT.N have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as U.S. President Donald Trump’s threat of a 35% tariff on the textile hub disrupts business.

Bangladesh is the third-largest exporter of apparel to the United States, and it relies on the garment sector for 80% of its export earnings and 10% of its GDP. The factory owners all said they expected orders to fall if the August 1 tariffs go into effect, as they are unable to absorb that 35% rate.

Iqbal Hossain, managing director of garment manufacturer Patriot Eco Apparel Ltd, told Reuters an order for nearly 1 million swim shorts for Walmart was put on hold on Thursday due to the tariff threat.

“As we discussed please hold all below Spring season orders we are discussing here due to heavy Tariff % imposed for USA imports,” Faruk Saikat, assistant merchandising manager at Classic Fashion, wrote in an email to Hossain and others seen by Reuters. Classic Fashion is a supplier and buying agent that places orders for retailers.

“As per our management instruction we are holding Bangladesh production for time being and IN case Tariff issues settled then we will continue as we planned here.”

The hold was not decided by Walmart, Saikat told Reuters, but by Classic Fashion itself.

Walmart did not respond to a request for comment.

Bangladesh is currently in talks with the United States in Washington to try to negotiate a lower tariff. Trump in recent days has revived threats of higher levies on numerous nations.

“If the 35% tariff remains for Bangladesh, that will be very tough to sustain, honestly speaking, and there will not be as many orders as we have now,” said Mohiuddin Rubel, managing director at jeans manufacturer Denim Expert Ltd in Dhaka.

Rubel, whose company produces jeans for H&M HMb.ST and other retailers, said he expects clients will ask him to absorb part of the tariff, but added this would not be possible financially. Manufacturers have already absorbed part of the blanket 10% tariff imposed by the U.S. on April 2.

“Only probably the big, big companies can a little bit sustain (tariffs) but not the small and medium companies,” he said.

Retailers have front-loaded orders since Trump returned to the White House, anticipating higher tariffs. Jeans maker Levi’s LEVI.N, which imports from Bangladesh, said on Thursday it has 60% of the inventory it needs for the rest of 2025.

U.S. clothing imports from Bangladesh totaled $3.38 billion in the first five months of 2025, up 21% from the year-earlier period, according to U.S. International Trade Commission data.

Another Dhaka-based garment factory owner said an importer with whom he was negotiating a spring 2026 order of trousers for Walmart asked him on Thursday to wait a week before the order would be confirmed due to the tariff risk.

Hossain said he may look for more orders from European clients to make up for lost orders if the U.S. 35% tariff gets implemented, even if he has to cut prices to stimulate demand.

(Reuters reporting by Helen Reid in London and Siddharth Cavale in New York; Editing by David Gaffen and Matthew Lewis)

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Politics

Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

A key China ally with presidential ambitions in Peru traveled late last month to California to participate in a sending-off ceremony for a batch of trains donated by the Biden administration, according to reporting by Peruvian news outlets.

Peruvian outlet Justo Medio reported at the time that Lima Mayor Rafael Lopez Aliaga, who is rumored to be considering a run for president of Peru in 2026, was in California late last month to discuss the transport of a batch of CalTrain locomotives, which were donated to Lima by the U.S. government under the Biden administration.

Nate Picarsic and Emily de La Bruyère, a senior fellow at the Foundation for Defense of Democracies (FDD), recently published a study on Lopez Aliaga’s ‘deep’ financial ties to China through his company PeruRail, which has seen its revenue rise to over $65 million per year due to increased shipments from Minera Las Bambas, a Chinese-owned joint venture counting state-owned mining giant China Minmetals as its majority backer.

The report alleged that China has been ‘cultivating’ Lopez Aliaga for higher office in Peru in hopes of growing its mineral and battery supplies harvesting in South America. The report goes so far as to dub Lopez Aliaga ‘China’s man in Peru.’

‘China’s mining presence in Peru is a direct boon for López Aliaga,’ the report said, giving Beijing ‘a powerful beachhead in Peru.’

The report said, ‘This leaves an influential Peruvian political leader aligned with and linked to China, its resource project, and the broader Belt and Road Initiative of which it is part.’

In the last several years, Chinese investment in South America, and Peru especially, has significantly increased.

According to NBC News, China invested $1.3 billion in a massive deepwater port in Chancay, Peru, just north of Lima.

Chinese President Xi Jinping participated in the port’s opening ceremony in 2024, during which he called the port the start of China’s 21st-century maritime Silk Road, according to the outlet.

According to Picarsic, China has also been investing heavily in Lima’s infrastructure, most notably dominating its electricity industry, all of which Lopez Aliaga has been a ‘linchpin’ piece in moving Chinese dominance forward.

Now, with Lopez Aliaga possibly entering Peru’s presidential race, Picarsic explained that this all ‘looks like a telltale sign of China’s handiwork.’

He also called the U.S.’s donation of trains to Peru ‘too little, too late’ to combat China’s growing influence in the region.

‘We’re coming with a donation of some number of decommissioned rail cars. But this guy, who is in cahoots with China, who’s coming to take them and he’s taking them back to run on Chinese rail feeding into a Chinese port, helping to move goods from a Chinese mine.’

Former Secretary of State Antony Blinken participated in a train-donation ceremony last November in Lima, Peru, where he praised the project as an opportunity to ‘strengthen the ties between Peru and the United States’ and said the trains ‘are not just a symbol, but the practical manifestation of possibilities – the possibilities that come when we connect to each other.’

‘This agreement is a testament to the strength and durability of the U.S. and Peru’s longstanding and mutually beneficial relationship,’ he added. ‘I am so proud to have Caltrain be a member of that mutually beneficial relationship.’

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Politics

Inside Dan Bongino’s tense meeting with White House officials over Jeffrey Epstein fallout

FBI Deputy Director Dan Bongino was outraged this week during a closed-door White House meeting about the Department of Justice’s review of Jeffrey Epstein’s sex trafficking case files, according to multiple sources.

Bongino raised his voice during a discussion with White House chief of staff Susie Wiles before storming out of the meeting, according to two sources close to DOJ leadership. Bongino also exchanged heated words with Attorney General Pam Bondi during the meeting, and the whole ordeal has led him to consider resigning from the FBI, another source said.

Another person with knowledge of the meeting disputed the characterization that Bongino yelled at Wiles or Bondi during the sitdown.

However, that person agreed that Bongino was ‘enraged.’ The source said the deputy director was angry about the Epstein memo rollout and what he viewed as Bondi’s ‘lack of transparency from the start.’ The memo, a joint product of the DOJ and FBI, said the two agencies had no further information to share with the public about Epstein’s case, a revelation that sparked fury among the MAGA base. The memo first appeared in Axios over the weekend, and then the DOJ and FBI published it Monday.

Asked about the claim that Bongino yelled at Wiles, a White House official said it was ‘100% false.’ Wiles is a veteran of Florida politics who led Trump’s campaign, and the president has described her as ‘universally admired.’

The fracture in DOJ and FBI leadership spilled into the public on Friday amid fallout from the memo.

The memo stated that the DOJ and FBI concluded their review of Epstein’s files and did not find any information that could lead to charges against anyone new.

Despite Bongino reportedly now breaking with leadership over the memo and weighing resignation, people familiar with the matter said as of Friday that FBI Director Kash Patel and Bondi remained in communication and that Patel is happy with his job.

A DOJ spokesman and an FBI spokesman did not respond to requests for comment.

Bongino, a former Secret Service agent with no prior FBI experience, hosted a popular podcast before Trump tapped him to serve in the No. 2 role at the bureau. On his show, Bongino repeatedly raised alarm over Epstein’s ‘client list,’ saying ‘there’s a reason they’re hiding it’ and that its release would ‘rock the political world.’

But in the memo released on Monday, the FBI and DOJ said they uncovered no such list.

Bongino, Bondi and Patel are all facing blowback over the Epstein files from a faction of their supporters, who say they reneged on repeated vows to open the curtain on details of Epstein’s case.

Epstein, a financier who was known to engage with wealthy, well-known figures, was indicted in 2019 over allegations he recruited dozens of women, including minors as young as 14, and had sexual relations with them or sexually abused them. His associate Ghislaine Maxwell was convicted of conspiring to sexually abuse minors and is serving a 20-year prison sentence. She has an appeal pending.

The DOJ and FBI said in their memo that much of the nonpublic information related to Epstein’s case is under court-ordered seals or contains child pornography and private information about victims.

Before joining the bureau, Patel and Bongino both advanced theories that the government was hiding information about the case, including a supposed ‘list’ of unindicted sexual predators.

The DOJ and FBI’s memo poured cold water on that idea by noting that the agencies found ‘no incriminating ‘client list.”

Deputy Attorney General Todd Blanche said in a statement on X that DOJ and FBI leadership, including Bongino, were in lockstep during the compilation and release of the memo. The idea that ‘there was any daylight’ between the FBI and DOJ was ‘patently false,’ Blanche said.

Bongino was not at work on Friday because he was so upset by the fallout from the Epstein memo, sources said. One said Bongino had not anticipated the backlash from his supporters.

Fox News’ David Spunt and Jake Gibson contributed to this report.

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Politics

Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

While the 2024 assassination attempt against President Donald Trump in Butler, Pennsylvania, has resulted in a host of changes to bolster the Secret Service’s security practices, the agency has its work cut out for it in an era of unprecedented threats against the president, according to former Secret Service agents.

Trump faces a plethora of threats, ranging from violent extremists backed by proxy groups, to domestic actors inspired to incite violence amid heightened political rhetoric, according to experts.

‘No U.S. president has been under so much threat of violence,’ Bill Gage, who served as a Secret Service special agent during Presidents George W. Bush and Barack Obama’s administrations, told Fox News Digital Wednesday. ‘The threat on President Trump is the greatest that any president has ever faced.’

Twenty-year-old gunman Thomas Matthew Crooks opened fire on Trump from a rooftop during the rally — with one of the eight bullets shot grazing Trump’s ear. In addition to injuring two people, the gunman also shot and killed Corey Comperatore, a 50-year-old firefighter, father and husband attending the rally.

Months later, another man was apprehended and charged with attempting to assassinate Trump at his Trump International Golf Club in West Palm Beach, Florida. Both incidents are under investigation.

Political rhetoric from the left that paints Trump as a threat to democracy is dangerous and could provide fodder for political radicals to believe assassinating the president is the way to save the country — potentially leading to a similar assassination attempt seen in Pennsylvania, Gage said.

Other factors contributing to the heightened threat levels include policies related to immigration or funding cuts from the newly created Department of Government Efficiency (DOGE) that are unpopular with the left, as well as hostile proxy groups who are backed by actors like Iran who oppose Trump, Gage said.

‘That increases the threat level on Trump,’ Gage said. ‘There’s probably dozens and dozens of threats every day, just sort of insider threats, or threats within our own borders that the Secret Service has to run down.’

Specifically, Gage pointed to comments from leaders like Democratic California Gov. Gavin Newsom, who delivered an address to the nation in June where he claimed ‘democracy is under assault,’ following the Trump administration’s decision to dispatch thousands of National Guard troops and hundreds of Marines to respond to the immigration riots in the Golden State and place them under federal command, rather than state command.

‘Right now there is someone out there reading Newsom’s quotes, someone who wishes President Trump harm,’ Gage said in an email in June to Fox News Digital. ‘It is up to the USSS to stop them. Hopefully those wishing the President harm will not slip through the cracks.’

A spokesperson for Newsom did not immediately respond to a request for comment from Fox News Digital.

Trump isn’t the only subject that’s a potential target for politically motivated violence.

Attacks against federal immigration officials are on the rise and a gunman opened fire against Border Patrol agents Monday at an annex in McAllen, Texas. Authorities have yet to identify a motive.

However, lawmakers have not minced their words on Trump’s immigration agenda. In June, Rep. Pramila Jayapal, D-Wash., accused ICE of acting ‘like a terrorist force’ — comments she has since defended.

Rep. Michael Guest, R-Miss., who oversees the House Homeland Security committee’s subcommittee on border security and enforcement, said in a Wednesday statement to Fox News Digital that ‘radical anti-law enforcement rhetoric’ has prompted the surge in violence against federal immigration officials.

Meanwhile, threats continue to change, creating additional challenges for security forces like the Secret Service as they adapt.

Although the Secret Service is taking action to enhance its security measures, the agency still faces ‘considerable vulnerabilities given the rising complexity and sophistication of the threats it faces,’ Tim Miller, who served as a Secret Service agent during Presidents George H.W. Bush and Bill Clinton’s administrations, said in an email Wednesday to Fox News Digital.

‘The FBI has consistently warned about homegrown violent extremists, which remains a major concern,’ Miller said.

While Miller characterized Butler as a ‘wake-up’ call for the Secret Service and said the incident is sharpening the agency’s ability to handle threats, there is still a lot of work that must be done, he said.

‘The Secret Service is also still playing catch-up when it comes to adopting critical technology — especially in the areas of secure communications, drone surveillance, and real-time intelligence tools,’ Miller said. ‘These are not luxuries; they are vital to modern protective operations.’

A bipartisan House task force that investigated the attack found that the attempted assassination was ‘preventable,’ and determined various mistakes were not an isolated incident.

At the top of the list of mistakes, the report identified that the Secret Service did not secure a ‘high-risk area’ next to the rally, the American Glass Research (AGR) grounds and building complex. Failure to secure this area ‘eventually allowed Crooks to evade law enforcement, climb on and traverse the roof of the AGR complex, and open fire.’

Other faults the task force found included handing over advance planning roles to inexperienced Secret Service personnel, along with various technology and communication breakdowns.

‘Moreover, relevant threat information known by members of the intelligence community was not escalated to key personnel working the rally,’ the House task force said in its report.

As a result, the agency has spearheaded a series of reforms.

According to former Secret Service acting director Ronald Rowe, immediate changes to the agency following Butler, Pennsylvania, included expanding the use of drones for surveillance purposes, and also incorporating greater counter-drone technology to mitigate kinetic attacks from other drones.

The agency also overhauled its radio communications networks and interoperability of those networks with Secret Service personnel, and state and local law enforcement officers, Rowe told lawmakers on a bipartisan House task force investigating the assassination attempt in December 2024. Updates to these radio communications are a significant change, according to Gage, who noted that he could carry up to five radios at a time because an integrated system didn’t exist.

Rowe also told lawmakers that the Secret Service was aiming to up its staffing in the next year, and had placed more special agents in Trump’s security detail. Some of the additional $231 million in funding that Congress approved for the Secret Service in a stopgap spending bill in September 2024 to hire 1,000 new agents and officers in 2025 would go toward these increased hiring plans, Rowe said.

A few other changes are in the pipeline, including possibly building a precise replica of the White House. Historically, agents have trained using Tyler Perry’s White House replica at his Atlanta film studio.

Secret Service director Sean Curran said in an interview on Fox News’ ‘My View with Lara Trump’ in April that the agency is working with the White House to install such a building at the James J. Rowley Training Center, a 500-acre center in Laurel, Maryland.

‘In order for our officers and agents to train up properly, they have to see what it’s like to be at the White House,’ Curran said. ‘It’s an important complex to know. There’s a lot of ins and outs, and something as simple as the local fire department showing up to help with a fire, and they need to know where they are going.’

Altogether, Congressional oversight bodies issued nearly 50 recommendations to the Secret Service following the assassination attempt, including ones related to better radio communications and planning for events. The agency reported Thursday that it has executed 21 of those recommendations, and is in the process of implementing 16 others.

‘The reforms made over this last year are just the beginning, and the agency will continue to assess its operations, review recommendations and make additional changes as needed,’ the Secret Service said in a news release Thursday.

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Politics

Trump defends embattled AG Pam Bondi, says ‘nobody cares about’ Jeffrey Epstein

President Donald Trump on Saturday defended Attorney General Pam Bondi as doing a ‘fantastic job’ after she came under fire from some Trump supporters over the Department of Justice’s handling of the Jeffrey Epstein files.

‘What’s going on with my ‘boys’ and, in some cases, ‘gals?’ They’re all going after Attorney General Pam Bondi, who is doing a fantastic job,’ Trump wrote in a lengthy post on Truth Social on Saturday. ‘We’re on one team, MAGA, and I don’t like what’s happening.’

He continued to question why people were ‘giving publicity to Files written by Obama, Crooked Hillary, Comey, Brennan, and the Losers and Criminals of the Biden administration.’

‘LET PAM BONDI DO HER JOB — SHE’S GREAT! The 2020 Election was Rigged and Stolen, and they tried to do the same thing in 2024 — That’s what she is looking into as AG, and much more. One year ago our Country was DEAD, now it’s the ‘HOTTEST’ Country anywhere in the World. Let’s keep it that way, and not waste Time and Energy on Jeffrey Epstein, somebody that nobody cares about.’

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Politics

Bondi says all charges against doctor who allegedly destroyed COVID vaccines have been dropped

U.S. Attorney General Pam Bondi announced Saturday that charges against a doctor accused of destroying COVID-19 vaccines and giving children fake shots at their parents’ request have been dropped.

‘At my direction @TheJusticeDept has dismissed charges against Dr. Kirk Moore,’ Bondi wrote on X. ‘Dr. Moore gave his patients a choice when the federal government refused to do so. He did not deserve the years in prison he was facing. It ends today.’

Moore, whose trial got underway Monday, was facing decades in prison for allegedly destroying more than $28,000 in COVID-19 vaccines and fraudulently completing and distributing hundreds of vaccination record cards.

The Utah-based plastic surgeon was indicted by a federal grand jury in January 2023.

Prosecutors say Moore and his three co-defendants ran a scheme out of Plastic Surgery Institute of Utah Inc. to ‘defraud the United States and the Centers for Disease Control and Prevention (CDC).’

On Tuesday, Rep. Marjorie Taylor Greene, R-Ga., said she was writing a letter to the Justice Department to urge it to drop charges against Moore.

‘This man is a hero, not a criminal,’ she contended on X. ‘The charges were filed under Biden’s DOJ, not Trump.’

Health Secretary Robert F. Kennedy Jr. also praised Moore on X in April, writing, ‘Dr. Moore deserves a medal for his courage and his commitment to healing!’

Greene thanked Bondi on Saturday.

‘Thank you AG Pam Bondi for dropping the WRONGFUL charges against Dr. Kirk Moore!’ she wrote on X. ‘We can never again allow our government to turn tyrannical under our watch. Thankfully, as soon as I told Pam Bondi about Dr. Moore’s case she swiftly moved to drop the charges against him. This is a big win!’

Bondi wrote that getting the charges against Moore dropped would not have been possible without Greene, ‘who brought this case to my attention. She has been a warrior for Dr. Moore and for ending the weaponization of government.’

Bondi’s actions come as some supporters of President Trump are calling for her resignation after the Justice Department and FBI on Sunday released a joint review that ended theories about an alleged Jeffrey Epstein client list, concluding there was no such list detailing the names of the world’s elite who allegedly took part in Epstein’s history as a sexual predator.

The DOJ also concluded the disgraced financier committed suicide in his New York City jail cell in 2019 while awaiting further sex trafficking charges.

Public outrage ensued after the release of a prison surveillance video that the administration used to prove that no one entered Epstein’s cell in the hours leading up to his death.

The 10-hour video, though, has one minute missing, which has fueled conspiracy theories that the administration is participating in a cover-up involving Epstein’s death.

‘President Trump is proud of Attorney General Bondi’s efforts to execute his Make America Safe Again agenda, restore the integrity of the Department of Justice, and bring justice to victims of crime. The continued fixation on sowing division in President Trump’s Cabinet is baseless and unfounded in reality,’ White House press secretary Karoline Leavitt siad.

FBI Deputy Director Dan Bongino is also considering resigning over the Justice Department’s handling of the Epstein files after a heated argument with Bondi this week, a source told Fox News Digital this week.

Bongino has not been seen in his office since Wednesday, a source said, adding he has yet to make a final decision about his future.

Fox News’ Amanda Macias, David Spunt and Jake Gibson contributed to this report.

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