Latest news with #GoldBar
New York Post
14-05-2025
- Business
- New York Post
Costco restricts purchases of this hot seller after insane demand
Is the 'bar' closed? Costco's Gilded Age may be coming to an end. The Big Box retailer is restricting purchases of its iconic gold bars after savvy buyers clamored to cash in on the precious metal amid market turmoil. Now, customers will be limited to buying only just one of the store's 1 oz bars — which are available in PAMP Suisse Lady Fortuna Veriscan and the Rand Refinery's South African bullion — per transaction, compared to two before, Business Insider reported. Advertisement Gold hoarders could still earn a pretty penny even with a one-bar limit, however. Gold and silver bars on display at a Costco Wholesale Corp. in Bayonne, New Jersey, Bloomberg via Getty Images The store's 1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan sells for an eye-popping $3,389.99 on the website including shipping and handling, meaning those who purchased them last year would've raked in a healthy profit given their then pricetag of $2,779.99, Quartz reported. Advertisement Since the items' launch in 2023, the chain has seen a veritable gold rush as Costco prospectors flocked from far and wide to gobble up their gilded treasure trove. According to a Bloomberg survey from October 2024, approximately 77% of Costco branches across 46 states had sold out of gold bars within a week, even after receiving fresh stock, the Daily Hodl reported. The store's 1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan. Costco In April 2024, Wells Fargo estimated that the commerce giant was earning $200 million per month in gold bar revenue, Quarts reported. Advertisement 'Our work suggests there has been significant interest given COST's aggressive pricing and high level of customer trust,' Wells Fargo equity analyst Edward Kelly said in a note to clients. 'The accelerating frequency of Reddit posts, quick online sell-outs of product, and COST's robust monthly eComm sales suggest a sharp uptick in momentum since the launch.' The gold fever quickly spread via social media as well. Finance influencer Humphrey Yang went viral earlier this month after purchasing the PAMP Suisse gold bar for $2,359 in April 2024, and then selling it to a gold dealer for just under $3,000, netting himself around $600 in profit. Advertisement Since Yang sold his bar, the price of gold has skyrocketed to a staggering $3,300 per ounce with Goldman Sachs upping its year-end forecast for gold from $3,300 to $3,700, Yahoo Finance reported. The precious metal's skyrocketing valuation comes as spooked investors stockpiled gold to safeguard themselves against economic uncertainty spurred by President Trump's tariff offensive. In February, the president's tariff plans even prompted some of the largest banks in the US and Britain to fly gold bars from London to New York City on commercial flights as a hedge against inflation.
The Guardian
23-04-2025
- Entertainment
- The Guardian
Inside the world of ‘skimpies': the barmaids in bras who pour pints in Australia's mining towns
Not long after M Ellen Burns arrived in Kalgoorlie, Western Australia, the state's borders closed to the rest of Australia and the world for the first time in history. The photographer had been on a road trip from the Blue Mountains to visit her partner's parents in WA when Covid-19 first began to spread; now she was well and truly stuck. She found work shooting for the town's tourist board, but a chance meeting with a local barmaid introduced her to the other jewels in Kalgoorlie's crown: skimpy bars. Burns photographed several skimpies at work between 2021 and 2023 with their full consent. A 'skimpy' is a barmaid who pours pints in lingerie in WA's mining towns. Usually it's a fly-in fly-out job, attracting women from all over Australia and beyond. They sign up to agencies, which send them out on a circuit, moving towns every few weeks. The hi-vis of miners, downing schooners at the bars, compete with the electric makeup of the skimpies who dance atop them. Burns was fascinated: 'The rest of the world was in lockdown, but here the party was still going on, so it was kind of surreal.' She started shooting for the socials of Gold Bar and wound up self-publishing a photography book, Skimpies. Known professionally as 'Mellen', Burns is a retiring type. 'I don't really go out much,' she says. But she gamely got in the thick of things, navigating slippery bar-room floors and boisterous games of 'beer pong', played with a middy glass wedged between a skimpy's buttocks. It was a world away from her career in Sydney, where she studied photography at the National Art School and worked for portrait photographer Sally Flegg. Many of the women are Fifo – fly-in fly-out – workers, travelling around some of the most geographically isolated communities in Australia. 'Being here made me think about photography in a new way. These candid photos were gold – they're the essence of what actually happens,' Burns says. The women Burns immortalised are students, travellers, single mums and young professionals on a lucrative version of spring break. Their interviews, some of which Burns uploaded to SoundCloud, reveal them to have a broad range of views about the demands of the job. Introverted Scarlett describes creating a split personality, with 'work Scarlett' graciously accepting roses made out of paper napkins and 'home Scarlett' preferring to be alone. Zoe recalls one punter trying to kiss her, 'but he doesn't know that I'm a trained Muay Thai fighter'. Cleo's interview is sadder, listing awful things that men wearing wedding rings have said to her, 'while I serve them yet another drink and cop further and worse verbal, physical, and sexual abuse while the night continues'. Burns captures the women while they're on duty; a gloriously chaotic and colourful spillage of limbs, liquids and lingerie. But the first half of the book is dedicated to more sombre portraits of the women, who are dressed in whatever they'd wear on a ciggie break: perhaps an oversized hoodie or man's shirt. Their faces are still made up, but Burns asked them to look straight down the barrel of the camera, 'so that when people read their stories they're really looking at them'. Behind the pseudonyms and sequins there's often an entrepreneurial spirit. A skimpy can earn up to $5,000 on tips on a really good weekend, and there's often an overlap with fetish modelling and OnlyFans. Many have an online tip jar or are a 'party starter' for hire. Some work as life models for local art classes; during the pandemic, one former skimpy even founded Boober Eats, a takeaway delivery service where out-of-work skimpies delivered food in lingerie. Burns' individual portraits of (clockwise) Tilly, Scarlett, Poppy and Cleo. Burns gave the women their own voices in the book and is cautious about speaking on their behalf. She defers to another photographer, Georgie Mattingley, who writes a fascinating essay from the perspective of an artist and former skimpy herself. 'This is not just hospitality or customer service; this is an elaborate, emotive and intimate performance,' Mattingley writes. 'A highly skilled art form that interweaves gruelling bar work with fantasy and fiction to create a fleeting social world where everyone belongs.' Has the scene changed much since its genesis in the 1970s? In 2023, feminist activist movement Collective Shout argued 'there is no justification for this industry'. Rather than play critic herself, Burns inserted newspaper articles into the book, from the 70s onwards ('they are not naked, they wear shoes,' one publican protests in 1986). But the debate rages on. In 2018, Perth Now reported that the #MeToo movement seemed to have caught up with skimpying, with big corporations eschewing the skimpy pubs where they would usually hold expo functions. 'So, are skimpies an anachronism, a relic that demeans women, or are the big city-based companies showing once again the huge and multi-level divide between city and bush?' the journalist asked – to which Mattingley answers in the book: 'Only skimpies can make such judgement calls on the industry.' Some skimpies can earn $5,000 on tips on a good weekend. As Cleo sees it, skimpies 'take great care of all the lonely sad men we come across in the pubs'. 'In the Perth Museum, you'll find a section dedicated to the FIFO men who committed suicide due to loneliness,' she adds, 'but because of skimpy women, I wonder how many men's lives have literally been saved.' Burns, who gave each skimpy her own promo shoot as thanks, now counts many as her friends and Kalgoorlie as her home. 'The rhythm is different here, because we've got night shift and day shift, on-swing and off-swing. It feels like it's always grinding away.' Many of the skimpies Burns interviewed say they love the support they feel from other women in the industry, and the financial freedom the work gave them. It's hard to imagine skimpying ever being lost in the mists of time. Each year brings a batch of fresh faces and, for some women, Kalgoorlie is like the Hotel California: you can check out any time you like, but you can never leave. 'I've only been here for about six months but the place has definitely won my heart really quickly. I can see why people come here and then never leave,' says Poppy, pictured wearing an emerald green robe over a red lace teddy. 'I also love being in my undies and so that's an extra bonus too.' Skimpies is available to buy from M Ellen Burns' website In Australia, support is available at Beyond Blue on 1300 22 4636, Lifeline on 13 11 14, and at MensLine on 1300 789 978. In the UK, the charity Mind is available on 0300 123 3393 and Childline on 0800 1111. In the US, call or text Mental Health America at 988 or chat
Yahoo
19-04-2025
- Politics
- Yahoo
US senator blasts president of Mexico, says toxic sewage dump threatens ‘national security'
FIRST ON FOX: United States Senator Tim Sheehy, R-Montana, called out Mexican president Claudia Sheinbaum in a scathing letter addressing the large amount of raw sewage and waste the neighboring country has dumped in the Tijuana River. The letter outlines Sheehy's concern not only for the health and safety of local residents, but also points out that the toxic leak could potentially be jeopardizing U.S. national security. "This continuous discharge is sickening thousands of Americans annually, including U.S. Navy SEALs and Marine special forces who train in the affected waters," the letter to the president of Mexico reads. "In February 2025, the Department of Defense Office of Inspector General concluded that, absent action, Navy Special Warfare Command would be advised to cancel or relocate up to 75 percent of water training exercises at Naval Amphibious Base Coronado due to elevated bacterial contamination levels." Epa Chief Takes On Mexican 'Sewage Crisis' Flowing Into Us Waters Where Navy Seals Train Last week, the International Boundary and Water Commission stated that Mexico is dumping 5 million gallons of sewage a day into the Tijuana rRver. The toxic waste then flows up into the United States, and can even make its way into the Pacific Ocean. "For decades, Mexico has been dumping toxic waste into the water where our most elite servicemen train, causing serious health issues and harming our readiness," Sheehy told Fox News Digital. "The problem is only getting worse, and their failure to do anything about it is harming our troops and our national security. Mexico needs to put a stop to this toxic tide immediately." Read On The Fox News App While Sheehy is sounding the alarm from Congress, local leaders have also confirmed that the Mexican government's intentional waste dump has left residents with dangerous and harmful environmental conditions. Scoop: Biden-era Grant Program Described As 'Gold Bar' Scheme By Trump Epa Administrator Under Scrutiny Army Takes Control Of Federal Land Along New Mexico Border To Increase Security, Protect The Environment "This sewage isn't just disgusting — it's dangerous. It contains E. coli, antibiotic-resistant bacteria, arsenic and other toxic chemicals," San Diego County Supervisor Jim Desmond explained in a recent Fox News op-ed. "Our water is contaminated. Our air is polluted with aerosolized waste. Residents are reporting everything from skin infections to viral pharyngitis — and even family pets have gotten sick after exposure." Next Tuesday, Fox News Digital reported that EPA Administrator Lee Zeldin is very aware of the issue, and intends to visit a local treatment facility in San Diego to assess the harmful flow of poisonous waste entering the U.S. from Mexico. A source close to Zeldin told Fox that this is a top priority for President Donald Trump's environmental leader. "We have heard far too many horror stories of Navy SEALs – some of the bravest and brightest service members in the military – falling ill from training in waters that have been contaminated by Mexican sewage that has flown into our nation," Zeldin told Fox on Friday. "This has been a human health crisis that has lingered for decades."Original article source: US senator blasts president of Mexico, says toxic sewage dump threatens 'national security'
CNN
17-04-2025
- Business
- CNN
Judge rules against Trump admin after it couldn't find evidence of fraud in clean energy program
A federal judge ruled against the Trump administration in the case that alleged fraud in a Biden-era clean energy program, unfreezing roughly $20 billion in funding meant to support projects like new solar energy arrays and efficiency upgrades for small businesses. Judge Tanya Chutkan on Tuesday ruled in favor of the eight nonprofits that sued Citibank and the Trump administration, finding that the Environmental Protection Agency unlawfully terminated the program. Chutkan ordered the congressionally appropriated funds to be unfrozen at 2 p.m. Thursday and distributed to the nonprofits they were originally intended for. The Trump administration said it will appeal. 'The DC District Court does not have jurisdiction to reinstate the $20 billion Biden-Harris 'Gold Bar' scheme, which is further amplified by a recent Supreme Court decision,' a spokesperson said in an email. 'These grants are terminated, and the funds belong to the U.S. taxpayer. We couldn't be more confident in the merits of our appeal and will take every possible step to protect hard-earned taxpayer dollars.' Citibank — which holds several nonprofits' funds — said in an April 2 hearing that it would unfreeze the accounts if Chutkan issued such an order. During that hearing, Chutkan pressed DOJ attorneys on whether the federal government had found any evidence of widespread waste, fraud, or abuse in the program, as EPA Administrator Lee Zeldin has alleged. DOJ attorney Marc Sacks said the government had not gathered new evidence to that effect. 'Here we are, weeks in, and you're still unable to proffer me any evidence with regard to malfeasance,' Chutkan told DOJ attorneys at the hearing, adding that the government had shifted its reasoning for cutting off grants to the eight large nonprofits — from citing evidence of wrongdoing to citing a change in administration policy. Chutkan also scrutinized the EPA's procedure for abruptly terminating the $20 billion grant program in March, specifically its failure to give awardees advance notice before announcing the cancellation. 'If EPA had concerns about oversight and the funding, the way to do it is either get a court order — which you didn't do — or go through the procedures for termination,' Chutkan told DOJ attorneys. 'You haven't done that. You're putting the cart before the horse.' The EPA could still shut down the program in the future, the judge noted, as long as it follows proper procedures and gives nonprofits advance notice of its plans. Sparked by a video from the right-wing activist group Project Veritas, Zeldin has adopted a theory that the Biden administration unlawfully awarded $20 billion to progressive ventures. In the video, a Biden-era EPA employee — filmed without their knowledge — compared the rush to get Congress's climate law funding out the door before Trump took office to 'tossing gold bars off the Titanic.' 'It's a clear-cut case of waste and abuse,' Zeldin told Fox News in February. 'The entire scheme, in my opinion, is criminal. We found the gold bars; we want them back.' As CNN has reported, the congressionally appropriated funds come from a 2022 law — the Inflation Reduction Act. The money is intended to be distributed to small, nonprofit lenders that focus on energy efficiency and clean energy projects — several of which are in Republican-led states, including Missouri, Indiana, Utah, Ohio, Georgia and North Carolina. Projects awaiting funding include initiatives to set up solar power for churches and help small independent grocery stores upgrade aging refrigeration systems — providing cost savings for the businesses as well as their customers. This story has been updated with additional information.
CNN
16-04-2025
- Business
- CNN
Judge rules against Trump admin after it couldn't find evidence of fraud in clean energy program
Source: CNN A federal judge ruled against the Trump administration in the case that alleged fraud in a Biden-era clean energy program, unfreezing roughly $20 billion in funding meant to support projects like new solar energy arrays and efficiency upgrades for small businesses. Judge Tanya Chutkan on Tuesday ruled in favor of the eight nonprofits that sued Citibank and the Trump administration, finding that the Environmental Protection Agency unlawfully terminated the program. Chutkan ordered the congressionally appropriated funds to be unfrozen at 2 p.m. Thursday and distributed to the nonprofits they were originally intended for. The Trump administration said it will appeal. 'The DC District Court does not have jurisdiction to reinstate the $20 billion Biden-Harris 'Gold Bar' scheme, which is further amplified by a recent Supreme Court decision,' a spokesperson said in an email. 'These grants are terminated, and the funds belong to the U.S. taxpayer. We couldn't be more confident in the merits of our appeal and will take every possible step to protect hard-earned taxpayer dollars.' Citibank — which holds several nonprofits' funds — said in an April 2 hearing that it would unfreeze the accounts if Chutkan issued such an order. During that hearing, Chutkan pressed DOJ attorneys on whether the federal government had found any evidence of widespread waste, fraud, or abuse in the program, as EPA Administrator Lee Zeldin has alleged. DOJ attorney Marc Sacks said the government had not gathered new evidence to that effect. 'Here we are, weeks in, and you're still unable to proffer me any evidence with regard to malfeasance,' Chutkan told DOJ attorneys at the hearing, adding that the government had shifted its reasoning for cutting off grants to the eight large nonprofits — from citing evidence of wrongdoing to citing a change in administration policy. Chutkan also scrutinized the EPA's procedure for abruptly terminating the $20 billion grant program in March, specifically its failure to give awardees advance notice before announcing the cancellation. 'If EPA had concerns about oversight and the funding, the way to do it is either get a court order — which you didn't do — or go through the procedures for termination,' Chutkan told DOJ attorneys. 'You haven't done that. You're putting the cart before the horse.' The EPA could still shut down the program in the future, the judge noted, as long as it follows proper procedures and gives nonprofits advance notice of its plans. Sparked by a video from the right-wing activist group Project Veritas, Zeldin has adopted a theory that the Biden administration unlawfully awarded $20 billion to progressive ventures. In the video, a Biden-era EPA employee — filmed without their knowledge — compared the rush to get Congress's climate law funding out the door before Trump took office to 'tossing gold bars off the Titanic.' 'It's a clear-cut case of waste and abuse,' Zeldin told Fox News in February. 'The entire scheme, in my opinion, is criminal. We found the gold bars; we want them back.' As CNN has reported, the congressionally appropriated funds come from a 2022 law — the Inflation Reduction Act. The money is intended to be distributed to small, nonprofit lenders that focus on energy efficiency and clean energy projects — several of which are in Republican-led states, including Missouri, Indiana, Utah, Ohio, Georgia and North Carolina. Projects awaiting funding include initiatives to set up solar power for churches and help small independent grocery stores upgrade aging refrigeration systems — providing cost savings for the businesses as well as their customers. See Full Web Article
