Locksley Resources (LKY:AU) has announced Locksley Produces High Grade Antimony Concentrate
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Canada One Mining (TSXV:CONE, OTC:COMCF, FSE:AU31) is an emerging explorer focused on the Quesnel porphyry belt, one of Canada’s most prolific critical mineral districts. Its flagship Copper Dome project, adjacent to the 45,000 t/day Copper Mountain mine (702 Mt at 0.24 percent copper, 0.09 grams per ton gold, 0.72 grams per ton silver), offers brownfield porphyry copper potential with strong discovery upside.
The flagship Copper Dome project is a 12,800-hectare, 100-percent-owned land package located just 1.5 km south of Hudbay Minerals’ Copper Mountain mine and 18 km from Princeton, British Columbia. With year-round road access, grid power, water supply, and nearby services, the project requires no camp or helicopter support and sits within a three-hour drive of Vancouver.
Positioned in the lower Quesnel porphyry belt—one of Canada’s most prolific porphyry copper districts—Copper Dome offers compelling exploration potential. Backed by a fully permitted, five-year drill program, the project is poised to deliver near-term results and game-changing catalysts.
Company Highlights
- Flagship Copper Project in Tier-1 Jurisdiction: 12,800 ha Copper Dome land package, adjacent to Hudbay’s Copper Mountain mine, one of Canada’s most prominent copper operations.
- Discovery Thesis: Porphyry cluster-style deposit potential; Copper Mountain deposit analogs average ~150 to 200 Mt.
- Logistics Advantage: Year-round access, no camp/helicopters; 3 to 3.5 hrs from Vancouver; pine-beetle-thinned cover aids access.
- Technical Uplift: Transitioning to four-acid digestion (industry standard) vs. the historical three-acid will, on average, return materially high metal values especially where minerals are more resistant to dissolution.
- Near-term Catalysts: Five-year drill permits in place; upcoming geophysics, geochemistry and drill programs across multiple porphyry copper/gold zones.
- Multiple Assets in Canada: In addition to Copper Dome, Canada One’s other exploration assets include the historical small-scale, past-producing Goldrop property and the Zeus gold project.
- Valuation Upside: Market cap just below C$3 million provides significant leverage to discovery and exploration success.
- Capital Strategy: Management will not finance below $0.10; interim self-funding to minimize dilution.
- Experienced Leadership: Management team is supported by resource veterans such as Dave Anthony, head of the company’s advisory board, past COO of Barrick Africa and current CEO of Assante Gold Corporation (TSX:ASE) with a $1.7 billion market capitalization.
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Thanks to exchange-traded funds (ETFs), investors don’t have to be tied to one specific stock. When it comes to biotech ETFs, they give sector participants exposure to many biotech companies via one vehicle.
ETFs are a popular choice as they allow investors to enter the market more safely compared to investing in standalone stocks. A key advantage is that even if one company in the ETF takes a hit, the impact will be less direct.
All other figures were also current as of that date. Read on to learn more about these investment vehicles.
1. ALPS Medical Breakthroughs ETF (ARCA:SBIO)
AUM: US$95.57 million
Launched in December 2014, the ALPS Medical Breakthroughs ETF tracks small- and mid-cap biotech stocks that have one or more drugs in either Phase II or Phase III US FDA clinical trials. Its holdings must have a market cap between US$200 million and US$5 billion.
There are 102 holdings in this biotech fund, with about 40 percent being small- and micro-cap stocks. Its top holdings include Cytokinetics (NASDAQ:CYTK) at a weight of 3.62 percent, Merus (NASDAQ:MRUS) at 3.51 percent and Avidity Biosciences (NASDAQ:RNA) at 3.43 percent.
2. Tema Oncology ETF (NASDAQ:CANC)
AUM: US$82.42 million
The Tema Oncology ETF provides exposure to biotech companies operating in the oncology industry. Launched in August 2023, it includes companies developing a range of cancer treatments, including CAR-T cell therapies and bispecific antibodies.
There are 51 holdings in this biotechnology fund, of which just over half are small- to mid-cap stocks. Among its top holdings are Revolution Medicines (NASDAQ:RVMD) at a weight of 6.29 percent, Eli Lilly and Company (NYSE:LLY) at 5.47 percent and Genmab (NASDAQ:GMAB) at 5.32 percent.
3. Direxion Daily S&P Biotech Bear 3x Shares (ARCA:LABD)
AUM: US$78.98 million
The Direxion Daily S&P Biotech Bear 3x Shares ETF is designed to provide three times the daily return of the inverse of the S&P Biotechnology Select Industry Index, meaning that the ETF rises in value when the index falls and falls in value when the index rises. Leveraged inverse ETFs are designed for short-term trading and are not suitable for holding long-term. They also carry a high degree of risk as they can be significantly affected by market volatility.
Unlike the other ETFs on this list, LABD achieves its investment objective through holding financial contracts such as futures rather than holding individual stocks.
4. ProShares Ultra NASDAQ Biotechnology (NASDAQ:BIB)
AUM: US$62.42 million
The ProShares Ultra NASDAQ Biotechnology ETF, launched in April 2010, is leveraged to offer twice daily long exposure to the broad-based NASDAQ Biotechnology Index, making it an ideal choice “for investors with a bullish short-term outlook for biotechnology or pharmaceutical companies.” However, analysts also advise investors with a low risk tolerance or a buy-and-hold strategy against investing in this fund due to its unique nature.
Of the 260 holdings in this ETF, the top biotech stocks are Vertex Pharmaceuticals (NASDAQ:VRTX) at a 5.05 percent weight, Amgen (NASDAQ:AMGN) at 5.01 percent and Gilead Sciences (NASDAQ:GILD) at 4.93 percent.
5. Tema Heart and Health ETF (NASDAQ:HRTS)
AUM: US$51.68 million
Launched in November 2023, the Tema GLP-1 Obesity and Cardiometabolic ETF tracks biotech stocks with a focus on diabetes, obesity and cardiovascular diseases. The fund was renamed on March 25 from Tema Cardiovascular and Metabolic ETF, and again on June 27 from the GLP-1 Obesity and Cardiometabolic ETF.
There are 47 holdings in this biotechnology fund, with about 75 percent being large-cap stocks and 22 percent mid-cap. About three-quarters of its holdings are based in the US. Its top biotech holdings are Eli Lilly and Company at a 8.47 percent weight, AstraZeneca (NASDAQ:AZN) at 4.39 percent and Abbott Laboratories (NYSE:ABT) at 4.58 percent.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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The oil market struggled in Q3 as prices continued to soften under mounting supply pressure.
Following moderate gains in H1, prices contracted through Q3, ending the quarter lower than their July 1 start positions.
Brent crude started the period at US$67.10 per barrel and finished at US$65.90, a 1.7 percent decline. Similarly, West Texas Intermediate (WTI) entered the 90 day session at US$65.55 per barrel, slipping to US$62.33 by September 30.
In its recently released energy, oil and gas report for the third quarter, Deloitte attributes the summer price slump to rising global oil inventories and OPEC+ easing production cuts sooner than expected.
“OPEC+ recently announced a 137 million barrels per day (MMbbl/d) production quota increase for October, beginning the reversal of 1.65 MMbbl/d of voluntary cuts that were originally set to stay in place through 2026,” it reads.
Supply has also exceeded demand in the US by 1.6 MMbbl/d between May and August, according to the US Energy Information Administration (EIA), fueling projections of further stock builds for the remainder of the year.
“We expect inventory builds will average 2.1 MMbbl/d in the second half of 2025 and will remain elevated through 2026, putting significant downward pressure on oil prices,” the EIA notes in its September short-term energy forecast.
WTI price performance, December 31, 2024, to October 6, 2025.
Oil prices under pressure amid rising inventories, sluggish demand
Such gains are unusual for the shoulder season, when demand typically dips to around 103 million to 104 million barrels per day, compared to 106 million in summer and winter, Schachter pointed out.
On the flip side, global oil demand in the third quarter remained subdued, with growth projections of approximately 700,000 barrels per day (bpd) for both 2025 and 2026, according to the International Energy Agency (IEA).
This marks a significant slowdown compared to the 2.8 percent growth observed in 2024.
The IEA attributes this deceleration to factors such as high interest rates, economic uncertainties and structural shifts in energy consumption patterns. Looking ahead, the organization projects a modest rebound in global oil demand, with an anticipated increase of 700,000 bpd in 2026. However, this growth is contingent upon factors such as economic stabilization, energy policy developments, and potential shifts in global trade dynamics.
“Demand is weaker. Inventories are high, OPEC is raising production, and so we have all of that, and we think that we’re going to see WTI below US$60,” said Schachter, adding that he expects to see WTI values sink to the US$56 to US$59 range in the fourth quarter.
Geopolitical tensions drive oil price volatility
Much of the oil price volatility exhibited in the third quarter was driven by geopolitical factors, according to Igor Isaev, Doctor of Technical Sciences, and head of Mind Money’s Analytics Center.
‘Prices have swung sharply, driven by a complex interplay of geopolitical flashpoints, punitive trade policies and structural changes in supply dynamics. From Tehran to Texas, the forces shaping global energy are no longer cyclical — they’ve become groundbreaking, unveiling symptoms of a broader recalibration of energy security and sovereignty.”
As Isaev explained, while these forces aren’t new, they have been especially impactful amid heightened global strife.
“At the heart of recent volatility lies a familiar trio: tariffs, conflict and fragility. US-China trade tensions have resurfaced in the form of targeted energy tariffs, while carbon border adjustments in Europe have added further complexities to global flows,” the expert explained. “Meanwhile, geopolitical instability in Iran, Venezuela, Russia and parts of Africa continues to inject a risk premium into every barrel.”
Despite all the market turbulence, Isaev noted that one steady factor persists — US shale’s balancing act. Once the industry’s great disruptor, shale now serves more as a pressure valve during supply crunches than a growth engine.
However its flexibility is waning. Higher interest rates, escalating service costs and maturing geology, particularly in the Permian Basin, have shifted producers’ focus from expansion to efficiency, he said.
“Its role heading into 2026 will be stabilizing, but not leading.”
For Schachter, the weak price environment falls below the incentive price for US shale producers.
Currently, shale production remains resilient, hitting 13.5 million barrels per day the first week of October, up 200,000 barrels from last year, he said. Producers continue to tap high-quality, tier-one reserves using advanced techniques like longer-reach, multi-leg wells and improved completions, keeping some operations profitable even at US$61.
Oil and gas M&A volume slows, but values surge
As uncertainty abounds companies continue to shy away from deal making. An August report from Wood Mackenzie notes that deal activity in 2025 is down 10 percent, to only 85 sector wide by mid-August.
“The number of deals has been declining progressively since 2022, making this the seventh consecutive half-year drop, with volumes now well below the ten-year average,” the firm’s analysis reads.
Despite the volume decline, values are on the rise.
“At US$71 billion, the overall value of disclosed deals was higher than the half-year average for the last five years, and a huge 80% higher than the unusually low total for the previous half year,” the report continues.
One of the largest deals announced during the quarter was Crescent Energy’s (NYSE:CRGY) acquisition of Vital Energy (TSXV:VUX,NYSE:VTLE), an all-stock deal valued at US$3.1 billion.
The deal will birth one of the 10 largest independent oil and gas producers in the US. The combined company will operate across major basins, including the Eagle Ford, Permian and Uinta.
Although deal volumes have retracted, both Isaev and Schachter anticipate majors heading to market in an effort to bolster their market share.
“M&A activity in North America is likely to accelerate,” said Isaev. “Consolidation will be driven not by land grabs, but by strategic repositioning — especially in LNG, CCS and low-carbon petrochemicals. I expect deals prioritizing operational efficiency, reserve quality and transition alignment over immediate revenue effect.”
For Schachter, majors play a pivotal role in securing today’s oil supply, as well as in funding the innovation for future oil production. “You’re always going to see the big boys go after the medium boys,” he said. “Once you find a good asset, you want to control more and more of it, so you buy other people up. So I think consolidation will be there.”
He went on to note that new technology will open up more plays offshore in the Gulf of Mexico.
“We haven’t really talked a lot about discoveries in the Gulf of Mexico for a long time; I think there will be new technology that will be applied to drilling,’ Schachter commented.
Accessing these offshore assets will not be cheap, as he estimates the wells there could cost upwards of US$50 million wells compared to under US$10 million for an onshore well.
“So that’s going to require the big boys to do that. But the prizes can be there, as we found with Guyana,” said Schachter, pointing to the Caribbean nation’s growth from no output to over 600,000 barrels per day currently.
Gas demand weakens as LNG expansion fuels potential Asian growth
After a sharp rebound in 2024, global natural gas demand slowed notably in the first half of 2025 as high prices, tight supply and economic uncertainty curbed consumption.
That was particularly true in Asia, where both China and India posted year-on-year declines.
Starting the third quarter at US$3.43 per million British thermal units, natural gas values contracted through July and August sinking to a year-to-date low of US$2.73 on August 20, 2025.
Values have since regained lost ground ending the three month period in the US$3.35 range.
Natural gas price performance, December 31, 2024, to October 6, 2025.
As noted in the IEA’s Q3 gas market report, Europe’s LNG imports are on track to hit record highs this year, driven by storage needs and reduced Russian pipeline flows.
Meanwhile, China’s imports are falling amid weaker demand and competition for cargoes, and ongoing geopolitical tensions, including the Israel-Iran conflict, have added volatility and uncertainty to an already fragile market.
Isaev underscored the importance of geography and regional tensions in relation to the gas market.
“In the natural gas arena, the pivot is predominantly geographic. European demand has somewhat rebounded, driven by colder winters and a continued retreat from Russian pipeline gas,’ he said.
Asia, by contrast, has seen softer industrial demand and increased reliance on domestic coal. For Canadian and US producers, this shift presents a strategic opening,” Isaev continued.
He went on to explain that LNG export infrastructure expansion, from BC to the US Gulf Coast, and long-term contracts with European buyers are “becoming geopolitical tools as much as commercial deals.”
While Schachter sees moderate European demand growth due to sluggish economic expansion, the longer-term surge is expected from Asia. As he pointed out, countries such as Japan, South Korea, China and Vietnam, which lack domestic reserves, will increasingly import LNG from sources like Australia, Papua New Guinea, the Gulf Coast and Canada.
‘And prices (in Asia) might be US$11 to US$12 compared to US$3.50 in the US,” said Schachter.
Looking ahead, the EIA forecasts that LNG supply growth is expected to surge in 2026 — led by new output from the US, Canada and Qatar — easing market pressures and potentially reigniting demand across Asia.
Oil and gas market forecast for Q4
Moving into the rest of 2025 and early 2026, Schacter warned that weather remains a key wildcard for energy markets.
He recommended watching whether winter will be mild or unusually cold, as Arctic fronts could spike oil and natural gas prices. Early forecasts, including those from the Farmers’ Almanac, suggest a colder-than-normal winter, though factors like El Niño could influence outcomes and add further uncertainty.
The oil and gas sector veteran, who will be hosting his annual Catch the Energy conference in Calgary in mid-October, also cautioned that global geopolitical risks remain a key market driver. Any disruptions in strategic chokepoints like the straits of Malacca or Hormuz, which could block crude shipments, have the potential to push oil prices higher.
‘And if we do, that’s going to be very, very good for the industry.”
Isaev pointed to OPEC+ tactical production, US shale prioritizing capital discipline over output growth, and LNG shipments to Europe and Japan being increasingly influenced by geopolitical dynamics, as key trends to watch.
“When you factor in the ongoing tensions in the Middle East and West Africa, along with the regulatory shifts surrounding carbon pricing and exploration permits, it’s evident that 2025 isn’t just going to be volatile — it’s a year for strategic realignment,” he said. “The advantage will go to those who can skillfully navigate this complexity, foresee critical turning points and invest their capital with both accuracy and creativity.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Investor Insight
Metro Mining is one of the few pure-play upstream bauxite companies globally listed on a stock exchange. As a direct exposure to the aluminum sector, Metro offers investors a unique opportunity to benefit from rising global demand driven by industrial applications and growth areas such as electrification, batteries, renewable energy, and lightweight transportation solutions.
Overview
Metro Mining (ASX:MMI) is a low-cost, high-grade Australian bauxite producer with its 100-percent-owned Bauxite Hills mine located 95 km north of Weipa on the Skardon River, Queensland. The mine forms part of a tenement package covering ~1,900 sq km.
Bauxite Hills Mine
As at 31 December 2024, Bauxite Hills contained 114.4 Mt of ore reserves, supporting an ~11-year mine life, with additional mineral resources extending mine life by roughly five years.
Following the infrastructure expansion commissioned in late 2023, the operation is ramping up production during 2025 and remains on track to deliver 6.5 to 7 WMtpa by year end. This positions Metro as one of the lowest-cost global bauxite producers.
The aluminum sector continues to see rising demand growth of around 3 to 4 percent annually, supported by EV manufacturing, renewable energy infrastructure, battery production and lightweight transportation. Market conditions have been strengthened by instability in Guinea, where government actions and weather disruptions have curtailed exports, creating supply uncertainty and reinforcing the importance of reliable Australian producers.
Company Highlights
- Metro Mining’s flagship asset, the Bauxite Hills mine (BHM) in Skardon River, located 95 km north of Weipa in Cape York Peninsula Queensland, benefits from proximity to Asian markets, short haul distances, and a highly scalable, low-cost marine transportation system, ensuring industry-leading operating margins.
- Production ramp-up continuing in 2025 following infrastructure expansion in late 2023. August 2025 shipments reached 753,101 WMT, up 6 percent year-on-year, with year-to-date production of 3.4 Mt, keeping the company on track for its 6.5 to 7 million WMT per annum CY2025 target.
- Targeting a delivered bauxite cost below US$30 per dry ton CIF China, positioning the company firmly within the lowest quartile of global producers.
- End of Q2 2025: Cash balance of AU$28.7 million, secured debt of US$56.6 million, and full-year hedged position at 0.63 US$:A$.
- Ore reserves of 77.7 Mt underpinning ~11 years of mine life, with additional mineral resources providing ~five more years
- Metro Mining maintains robust environmental and social governance, evidenced by receiving the Association of Mining and Exploration Companies’ 2024 Environment Award.
Key Project
Bauxite Hills Mine (Queensland, Australia)
Metro Mining’s flagship asset, the Bauxite Hills mine, is located on the Skardon River, about 95 kilometres north of Weipa in Queensland. The mine is underpinned by 114.4 Mt of ore reserves as at 31 December 2024, providing approximately 11 years of production, with further Mineral Resources extending mine life by around five years.
Bauxite Hills is a straightforward, low-cost DSO operation. The orebody requires no blasting, with only ~0.5 metres of overburden to remove, and short average haul distances of nine kilometres. Ore is screened to below 100 millimetres and hauled to the barge loading facility, where it is transported via tugs and barges to offshore transhippers for loading onto Capesize vessels bound for Asian markets. This efficient marine logistics chain enables Metro to remain in the lowest quartile of global cost producers.
Production continues to build steadily. In Q2 2025, the mine shipped a record 1.9 Mt, generating site EBITDA of AU$54 million and a margin of AU$32 per tonne. In August 2025, shipments reached 753,101 tonnes, a six percent increase from the prior year, with 3.4 Mt shipped year-to-date, putting the mine firmly on track to meet its 2025 target of 6.5 to 7 Mt.
Metro has established offtake agreements with leading global alumina and aluminum producers, including Chalco, Emirates Global Aluminium, Xinfa Aluminium and Shandong Lubei Chemical. To support growth beyond 2025, debottlenecking and optimisation studies are underway to enable potential expansion to 8 Mtpa beyond 2026.
The company is also advancing exploration in surrounding lateritic bauxite terraces. Drilling campaigns are planned across EPM 27611, EPM 16755, EPM 25879 and EPM 26982 during the second half of 2025, with approximately 150 holes scheduled.
In addition, Bauxite Hills hosts a significant kaolin deposit beneath the bauxite ore. Metro is progressing a feasibility study to assess extraction potential, market strategies and product testing, with applications in ceramics, paper, paints and industrial uses.
Management Team
Simon Wensley – CEO and Managing Director
Simon Wensley is a proven industry leader with extensive experience in mining operations and strategic growth. He spent 20 years at Rio Tinto in various operational, project and leadership roles across commodities, including iron ore, industrial minerals, bauxite, alumina, coal and uranium.
Douglas Ritchie – Non-Executive Chair
Douglas Ritchie brings more than 40 years’ experience in resources, previously holding senior leadership roles at Rio Tinto, including CEO of Rio Tinto Coal Australia, chief executive of the Energy Product Group, and group executive of strategy.
Nathan Quinlin – CFO
Nathan Quinlin is experienced in financial strategy and cost optimization, previously serving as finance and commercial manager at Glencore’s CSA mine, managing finance, risk management and life-of-mine planning.
Gary Battensby – General Manager and Site Senior Executive
Gary Battensby has extensive experience in managing large-scale metalliferous mining operations, budget control and regulatory compliance. He previously oversaw teams of up to 350 staff and operations with substantial CAPEX and operational responsibilities.
Vincenzo De Falco – General Manager, Marine Supply & Logistics
With over 15 years of global experience in the shipping and maritime industry, including at IMC and Louis Dreyfus Armateurs, Vincenzo De Falco is leading the Metro Marine Team to manage BHM transhipping logistics, including new Floating Crane Terminal (Ikamba) as well as Tug Mandang.
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The newly formed media corporation Paramount Skydance has acquired The Free Press, an online news and commentary outlet co-founded by Bari Weiss, who will join CBS News as editor-in-chief.
Weiss launched The Free Press in 2021 with her wife, Nellie Bowles, and her sister, Suzy Weiss. They have presented the publication as a heterodox alternative to the legacy news media and a bulwark against “ideological narratives,” particularly on the political left.
The acquisition is one of Skydance chief David Ellison’s most significant early moves to reshape the news unit at Paramount, which he acquired in a blockbuster $8 billion deal earlier this year.
In seeking federal approval of the merger, Skydance vowed to embrace “diverse viewpoints” and represent “the varied ideological perspectives of American viewers.” The company also pledged to install an ombudsman at the nearly 100-year-old CBS News operation.
“This partnership allows our ethos of fearless, independent journalism to reach an enormous, diverse, and influential audience,” Weiss said in a news release. “We honor the extraordinary legacy of CBS News by committing ourselves to a singular mission: building the most trusted news organization of the 21st Century.”
The Free Press has roughly 1.5 million subscribers on Substack, with more than 170,000 of them paid, according to Paramount Skydance. The Financial Times estimated that the publication generates more than $15 million in annual subscription revenue. NBC News has not independently verified that figure.
“Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News,” Ellison said in a statement. “This move is part of Paramount’s bigger vision to modernize content and the way it connects — directly and passionately — to audiences around the world.”
The acquisition talks between Ellison and Weiss were first reported in late June by Status, a media industry newsletter. Ellison is the son of billionaire tech mogul Larry Ellison, the co-founder of the software firm Oracle.
Weiss co-founded The Free Press after quitting the opinion section of The New York Times. In a resignation letter that was published online, Weiss decried what she characterized as the “illiberal environment” at the newspaper.
The Free Press earned wide attention in April 2024 after it published an essay from Uri Berliner, a senior business editor at National Public Radio who accused his employer of organizing around a “progressive worldview.” Berliner then resigned from NPR and joined The Free Press.
The publication’s regular stable of columnists includes Tyler Cowen, an economist and podcaster; Matthew Continetti, the author of a book about the evolution of American conservatism; and Niall Ferguson, a British-American historian.
CBS News has repeatedly found itself in the national spotlight in recent months. President Donald Trump filed a lawsuit last year against Paramount accusing “60 Minutes” of deceptively editing an interview with then-Vice President Kamala Harris.
CBS denied the claim. Paramount settled Trump’s lawsuit for $16 million.
The Federal Communications Commission is still investigating whether CBS engaged in “news distortion.” The commission is chaired by Brendan Carr, who was appointed by Trump at the start of his second term.
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A Senate Republican argued that Senate Democrats are demanding tens of millions of dollars in foreign aid for LGBT projects, pastry cooking classes, electric buses and more in exchange for reopening the government.
Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., have remained steadfast in their position that unless a deal is struck to extend expiring Obamacare tax credits, they will not provide the votes needed to reopen the government.
But Sen. John Kennedy, R-La., charged on the Senate floor on Friday that his colleagues’ demands go beyond their healthcare push, and is being driven by the ‘socialist wing’ of the Democratic Party, and more specifically, by Rep. Alexandria Ocasio-Cortez, D-N.Y.
‘I don’t think Senator Schumer was the person in charge, because Senator Schumer is not the leader of the Socialist wing of his party, Congresswoman Ocasio-Cortez is,’ Kennedy said. ‘She’s running the show.’
When reached for comment, Ocasio-Cortez’s office pointed Fox News Digital to an interview she did with NBC News on Republicans’ claims that she was driving Democrats’ position.
Ocasio-Cortez called the claims that she was running the show ‘ridiculous,’ and charged that Republicans were the ones that had shut down the government.
‘It is so important to understand that these people are all talk, they are all talk, they are negotiating with Chuck Schumer and Hakeem Jeffries and Democratic leadership, and Democrats are united to that end,’ she said.
He argued that congressional Democrats, driven by the far-left, wanted to unlock funding that Republicans and the White House had canceled earlier this year in the $9 billion rescissions package.
The lawmaker listed out nearly $20 million in foreign aid funding that he alleged Democrats had their eyes on, including, $4.2 million for lesbian, gay, bisexual, transgender, queer, and intersex people in the Western Balkans and Uganda, $3.6 million for pastry cooking classes and dance focus groups for male prostitutes in Haiti, $6 million dollars for media organizations for the Palestinians and $3 million for circumcisions and vasectomies in Zambia.
He also accused congressional Democrats of seeking hundreds of thousands for electric buses in Rwanda, transgender people in Nepal, a pride parade in Lesotho and for social media and mentorship in Serbia.
‘I could spend the rest of the afternoon here,’ Kennedy said. ‘We took all that out.’
Kennedy’s office did not provide details to Fox News Digital when asked specifically where the funding he referred to could be found.
And Democrats’ goal in their counter-proposal to Republicans’ continuing resolution (CR) did not include a repeal of the rescissions’ package, which saw billions in foreign aid canceled earlier this year.
Their plan demanded a permanent extension to the expiring healthcare premium subsidies, nearly $200 million for beefed up security for lawmakers, a repeal of the healthcare title in the ‘One Big Beautiful Bill Act,’ a clawback of canceled funding for NPR and PBS, and stiffer guardrails on President Donald Trump’s rescission powers.
However, their CR does not include a provision that would undo the broader rescissions package passed earlier this year that canceled billions in foreign aid funding.
And Senate Democrats have remained bullish in their demand that Senate Republicans must negotiate with them on a deal for the Affordable Care Act (ACA) subsidies to earn their votes to reopen the government.
‘We have asked Republican leaders for months to sit down and talk to us, talk with us. They’ve refused and barreled us into a shutdown,’ Schumer said. ‘They thought they could bludgeon us and threaten us and scare us. It ain’t working, because my caucus and Democrats are adamant that we must protect the healthcare of the American people.’
Fox News reached out for comment from Schumer’s office but did not hear back immediately.
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Sen. Josh Hawley, R-Mo., tore into Special Counsel Jack Smith, accusing him of ‘spying on political opponents’ during the Jan. 6 probe and calling the alleged surveillance ‘an abuse of power beyond Watergate.’
The FBI, working under Smith’s direction, obtained call logs and metadata tied to nearly a dozen GOP senators, including Hawley, as part of its investigation into the Capitol riot, Fox News reported. The tracking involved call records and timestamps, not the content of the conversations.
Hawley told Fox News Digital on Monday that the newly released documents suggest that Biden’s administration was ‘spying on the president’s political opponents,’ which he called ‘a profound violation of the separation of powers.’
He said the activity fits what he views as part of a broader pattern of executive overreach under Biden, citing alleged surveillance of Catholic churches, parents at school board meetings and social media censorship.
‘The truth comes out. Biden’s Stasi who claimed to be saving ‘our sacred democracy’ in fact worked overtime to destroy it — all for power. They spied on Catholic churches, prosecuted pro-lifers, deployed the FBI against parents at school board meetings — and tried to tap the phones of their political enemies. Including mine,’ Hawley wrote on X.
‘This is an abuse of power beyond Watergate, beyond J. Edgar Hoover, one that directly strikes at the Constitution, the separation of powers, and the First Amendment,’ he continued. ‘We need a full investigation of all involved: who knew about it, who ordered it, and who approved it. Anyone and everyone who violated the law must be prosecuted. The way to save the country is to restore the rule of law.’
Hawley said he was targeted because he is a conservative Republican who vocally opposed Biden and ‘his lawlessness.’
‘It’s obviously totally partisan,’ the senator said, adding that he’s proud to have called out what he described as the abuse of power by the FBI. He also said the alleged conduct was ‘dangerous, very, very dangerous’ for the country.
Hawley said the scope of the alleged surveillance was even greater than Watergate.
‘This is worse than Watergate,’ he said, arguing that Biden ‘activated the entire government to go after anybody who dared to oppose him.’ He accused the administration of using agencies such as the FBI, DOJ and DHS to silence critics and monitor private citizens.
Hawley called for a full Justice Department investigation and said appointing a special counsel ‘who will devote their full attention to it’ would be appropriate.
‘We’ve got to have a total accountability, total transparency and a full accounting of everybody who was involved in this — everybody who knew about it, signed off on it, and had any part in it, and I just can’t imagine that this is legal… and anybody who committed legal violations needs to be prosecuted,’ he said.
Hawley has framed the controversy as a test of constitutional limits, saying the government must be held accountable when power is used to pursue political opponents instead of upholding the rule of law.
Fox News Digital’s Brooke Singman contributed to this report.
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The Vatican’s top diplomat on Monday condemned both Hamas’ ‘inhuman and indefensible’ Oct. 7 attacks and Israel’s ‘ongoing massacre’ in Gaza, warning that even legitimate self-defense cannot justify the destruction of a ‘largely defenseless population.’
Cardinal Pietro Parolin, the Vatican’s secretary of state and one of Pope Leo XIV’s advisers, spoke in an interview marking the second anniversary of Hamas’ Oct. 7 attack on Israel — a raid that killed about 1,200 people and saw 251 people taken hostage.
Parolin said Israel’s military response has stretched far beyond the bounds of proportionality, turning Gaza’s crowded neighborhoods into ruins.
‘The war waged by the Israeli army to eliminate Hamas militants disregards the fact that it is targeting a largely defenseless population, already pushed to the brink, in an area where buildings and homes are reduced to rubble,’ he told Vatican media.
‘Those who are attacked have a right to defend themselves,’ he said, ‘but even legitimate defense must respect the principle of proportionality.’
Reuters reported that Hamas-run Gaza health authorities claim Israel’s campaign has resulted in over 67,000 deaths in Gaza, mostly civilians.
The remarks rank among the Church’s sharpest rebukes of the war. They also mark a shift toward a more forceful Vatican voice under Leo, who succeeded Pope Francis in May.
Parolin also faulted global powers for their paralysis.
‘It is… clear that the international community is, unfortunately, powerless and that the countries truly capable of exerting influence have so far failed to act to stop the ongoing massacre,’ he said.
‘I can only repeat the very clear words spoken by Pope Leo on July 20: ‘I renew my appeal to the international community to observe humanitarian law and to respect the obligation to protect civilians, as well as the prohibition of collective punishment, the indiscriminate use of force and the forced displacement of the population.’’
Parolin went further, questioning the morality of arms sales to parties in the conflict.
‘It’s not enough to say that what is happening is unacceptable and then continue to allow it to happen,’ he said.
‘We must seriously ask ourselves about the legitimacy… of continuing to supply weapons that are being used against civilians.’
In July, Pope Leo XIV expressed sadness and called for a ceasefire after Gaza’s only Catholic Church was hit in an apparent Israeli strike, leaving at least two dead and several injured. Israeli Prime Minister Benjamin Netanyahu later said ‘stray ammunition’ hit the church.
Parolin’s warning lands as European leaders face growing pressure to do more than issue statements of concern. His use of ‘massacre’ echoed humanitarian groups that say Gaza’s civilian infrastructure has collapsed.
At the same time, he reiterated the Church’s demand that Hamas free all remaining hostages.
‘Those attacks were inhuman and indefensible,’ he said, underscoring that neither side’s suffering diminishes the other’s.
Fox News Digital has reached out to the Vatican on the matter.
Reuters contributed to this report.
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President Donald Trump on Monday evening slammed Democratic lawmakers for shutting down the government amid one of ‘the most successful economies,’ calling on them to reopen the government tonight.
‘Democrats have SHUT DOWN the United States Government right in the midst of one of the most successful Economies, including a Record Stock Market, that our Country has ever had,’ Trump wrote on Truth Social. ‘This has sadly affected so many programs, services, and other elements of Society that Americans rely on — And it should not have happened.
‘I am happy to work with the Democrats on their Failed Healthcare Policies, or anything else, but first they must allow our Government to re-open,’ he added. ‘In fact, they should open our Government tonight!’
Trump made the post after Senate Democrats, again, blocked Republican efforts to reopen the government, ensuring the shutdown will last at least a week.
Senate Minority Leader Chuck Schumer, D-N.Y., and most Democrats say they won’t support funding the government unless Congress agrees to extend expiring ObamaCare subsidies.
Senate Majority Leader John Thune, R-S.D., needs at least eight Democrats to back the GOP bill, which would reopen the government through Nov. 21. So far, only Sens. John Fetterman, D-Pa., Catherine Cortez Masto, D-Nev., and Angus King, I-Maine, have broken ranks to end the shutdown, while Sen. Rand Paul, R-Ky., remains the only Republican holdout.
Democrats warn that without a deal to extend the subsidies expiring this year, millions could face soaring premiums. Both sides say they want an agreement but remain split over when to address the issue.
Schumer also wants assurance that Trump will sign any deal, pointing to expected resistance from House Republicans.
‘We need the president involved,’ Schumer said. ‘[House Speaker Mike] Johnson and a whole lot of his caucus don’t like the ACA, don’t want to do the extensions. A lot of Republican senators in the Senate do, but they’re not enough. Good is not enough. You need Johnson and you need Trump to get it done. So that’s the bottom line.’
Trump told reporters in the Oval Office, ‘we’re talking to Democrats.’ When asked if he’d work with them on a deal to reopen the government, he said, ‘Yeah.’
‘I’d like to see a deal made for great healthcare,’ Trump said. ‘I want to see great healthcare. I’m a Republican, but I want to see healthcare much more so than the Democrats.’
Schumer fired back, saying Trump’s ‘claim isn’t true — but if he’s finally ready to work with Democrats, we’ll be at the table.’
Fox News Digital’s Alex Miller contributed to this report.
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