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Syntholene offers investors exposure to a first‑of‑its‑kind, publicly traded pure‑play synthetic fuel company positioned to disrupt a multi‑trillion‑dollar liquid fuels market with a scalable pathway to cost‑competitive, carbon‑negative aviation fuel.

Overview

Syntholene Energy (TSXV:ESAF,FSE:3DD0) is a next-generation clean energy company focused on producing high-performance, carbon-negative, low-cost synthetic liquid fuels, with aviation as its initial target market. Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel (eSAF), manufactured at 70 percent lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral eFuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Synthetic fuels offer a drop-in solution for the aviation industry seeking to reduce emissions without modifying aircraft or infrastructure, addressing one of the most pressing challenges in global decarbonization.

The company is operating against the backdrop of a large and rapidly expanding aviation fuel market. The global aviation fuel market was valued at approximately US$391 billion in 2023 and is projected to grow to nearly US$820 billion by 2032, while the sustainable aviation fuel segment is expected to expand from just over US$2 billion in 2025 to more than US$25 billion by 2030. This growth is being driven by regulatory mandates, airline decarbonization commitments, and limited near-term alternatives for long-haul flight, making aviation one of the most attractive early markets for synthetic fuels.

Beyond aviation, the global eFuel market is projected to grow rapidly over the coming decade, from US$8.89 billion in 2024 to more than US$215 billion by 2032, supported by increasing demand for low-emissions liquid fuels across shipping, industrial energy, and other hard-to-electrify applications that rely on existing combustion infrastructure. While aviation is Syntholene’s initial commercial focus, the company’s synthetic fuel platform is designed for application across a wide range of liquid fuel markets, allowing it to leverage a substantially larger total addressable market over time. These dynamics create a multi-layered growth opportunity, with aviation serving as a high-value entry point into a much broader global eFuel market.

Syntholene is progressing its Hybrid Thermal Production System from laboratory-scale validation toward a real-world demonstration facility in Iceland, leveraging abundant geothermal resources and long-term expansion potential.

The company’s leadership team brings experience across advanced energy, large-scale industrial deployment, and climate-tech commercialization, positioning the company to scale modular production facilities globally as regulatory and market demand intensifies.

Key Solution

Syntholene’s core offering is synthetic fuel (eFuel) produced through a proprietary, integrated production pathway designed to deliver high performance at materially lower cost than conventional power-to-liquid approaches. Synthetic aviation fuels are produced from renewable electricity, green hydrogen and captured carbon, and can deliver up to 90 percent lower lifecycle emissions while remaining fully compatible with existing aircraft and fueling infrastructure.

Syntholene’s Thermal Hybrid Production System integrates high-temperature solid oxide electrolysis with industrially proven fuel synthesis reactors. By introducing low-cost thermal energy at critical stages of the process, the system significantly reduces electricity consumption, which is the primary cost driver for most eFuel producers. This approach underpins the company’s targeted 70 percent cost advantage versus competing technologies and supports a credible pathway toward cost parity — and potentially superiority — relative to fossil fuels at scale.

From a market perspective, the company is targeting a sector supported by strong regulatory tailwinds. In Europe, the ReFuelEU Aviation Regulation mandates rising sustainable aviation fuel blending requirements beginning in 2025 and increasing through 2050, while complementary subsidies of up to €6 per liter further incentivize adoption.

Syntholene’s development plans are centered on delivering a demonstration facility by the end of 2026, followed by commercial facilities capable of scaling from tens to hundreds of megawatts as demand accelerates. Over time, Syntholene aims to evolve from carbon‑neutral fuel production to carbon‑negative fuels, actively removing more CO₂ from the atmosphere than is emitted when the fuel is consumed.

Management Team

Dan Sutton – Chief Executive Officer

Dan Sutton has spent the last 15 years as a founder and executive leader in sustainable infrastructure deployment and operations. He was the founder and CEO of Tantalus Labs, where he and his team designed, built and operated its first-of-a-kind production facility SUNLAB, reducing energy demand by 90 percent per square foot relative to historic incumbents. He scaled his team to 150 employees, grew revenue from 0 to $20 million annually, and delivered leading revenue-per-employee sector-wide. Sutton has a strong track record in executive leadership, government relations, public relations and project management. He prides himself on building cultures that foster intellect, drive and relentless resourcefulness.

Steve Oldham – Director

Steve Oldham is a globally recognized leader in carbon management and climate‑tech commercialization. He is the former CEO of Carbon Engineering, where he helped establish direct air capture as a viable industry and led the company through its sale to Occidental Petroleum at a $1.6 billion valuation. He is also CEO of Captura and brings decades of experience scaling complex, capital‑intensive clean energy technologies.

Canon Bryan – Director

Canon Bryan is a founder and company builder with more than 25 years of experience in advanced energy and resource companies. He co-founded Terrestrial Energy (developer of Generation IV nuclear power), Uranium Energy (NYSE:UEC), and NioCorp (NASDAQ:NB), and has contracted with public and private companies across finance, accounting, planning and corporate development. Bryan’s background spans full-cycle accounting, economic modelling and strategic leadership in complex industrial sectors.

John Kutsch – Chief Engineer

As Syntholene’s chief engineer, John Kutsch leads the integration of multiple discrete systems into a unified, optimized and scalable infrastructure for economic and rapid construction and operation. He brings over 30 years of experience in systems design and implementation across large industrial companies, including work on energy, chemical processing and advanced reactor designs.

Jack Williams – Head Engineer

Jack Williams is head engineer at Syntholene. He has seven years of experience in high-temperature and pressure reactors, pilot-scale rig design and execution. As a research fellow at the University of Cambridge and IChemE, his work focused on reactor design for synthetic fuel production and CO₂ capture, including developing groundbreaking electrolysis and catalytic reactor technologies.

Grant Tanaka – Chief Financial Officer

Grant Tanaka is Syntholene’s CFO with more than 15 years of senior financial leadership experience across the global natural resources sector. His experience includes directing finance operations for major mining companies and holding senior finance roles at Teck Resources, New Gold and Copper Mountain Mining. Tanaka combines financial discipline with operational performance management and holds a Bachelor of Business Administration. He is also a chartered professional accountant.

Anna Pagliaro – Director

Anna Pagliaro is a senior commercial and risk management executive with extensive experience in the energy and mining sectors. She currently serves as director, commercial and risk at Vizsla Silver, leading strategic negotiations, risk mitigation and governance for complex international projects. Pagliaro’s prior roles include leadership positions at Ausenco, NexGen Energy and Integra Gold, and she holds legal and business credentials that support strategic value creation and operational excellence.

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The solar industry is turning to base metals and innovation to bypass the soaring silver price.

Silver’s exceptional electrical and thermal conductivity make it a critical material in the production of photovoltaics (PV). However, record-high prices are forcing key solar industry players to find more cost-effective alternatives.

In a September 2025 report, BNEF analysts note that silver represents about 14 percent of the total cost of production for solar panels, up from 5 percent in 2023. At the time, silver was trading in the US$42 to US$46 per ounce range.

Since then, the white metal’s price has exploded, hitting an all-time high of US$93.77 on Wednesday (January 14). That’s double the level it was in September, and a nearly 200 percent increase from the year before.

In an industry already fraught with intense competition, such a large leap in the price for a major component is unsustainable. In response, top manufacturers in China such as LONGi Green Energy Technology (SHA:601012) are turning to base metals and technological innovations to help manage solar panel input costs.

Solar panel makers bypassing silver

China dominates the global solar PV industry, representing more than 80 percent of worldwide manufacturing capacity across the supply chain, including polysilicon, wafers, cells and modules.

In early January, Bloomberg reported that starting in Q2, LONGi Green Energy is planning to start mass producing solar cells using base metals instead of silver in an effort to reduce costs.

Di Giacomo believes that because LONGi Green Energy is one of the solar industry’s technological leaders, its move away from silver marks a significant turning point for the sector.

Bloomberg notes that the company has joined the ranks of other Chinese solar manufacturers looking to sidestep silver’s price volatility. In December, JinkoSolar Holding (NYSE:JKS), which is headquartered in China, but listed in the US, said it was looking to roll out large-scale production of solar panels using base metals. Additionally, smaller firm Shanghai Aiko Solar Energy (SHA:600732) is producing 6.5 gigawatt solar cells without silver.

“Other major manufacturers, such as JinkoSolar and AIKO Solar, are also exploring silver-free technologies or solutions that minimize the use of this metal,” said Di Giacomo. “The convergence of efforts among leading players suggests this is not an isolated trend, but rather a structural shift in how solar panels are designed and manufactured.”

Is copper a viable alternative to silver?

Copper is the prized favorite among the base metals for swapping out silver.

While both metals have seen unprecedented price rallies on the back rising industrial demand from clean technologies and artificial intelligence, silver maintains an enormous premium over copper. Currency, the price of a troy ounce of silver is trading at about 22,000 percent higher than a troy ounce of copper.

“Although its conductivity is slightly lower, copper is far more abundant, cheaper and supported by a more diversified supply chain,” stated Di Giacomo. “These characteristics make it an attractive option for an industry seeking to scale production without exposure to bottlenecks in critical raw materials.”

The red metal may be a great electrical conductor, but it doesn’t match silver’s capabilities. There’s also the tendency for copper to oxidize and degrade, testing the long-term viability and reliability of copper-based solar components. For those reasons, subbing in copper presents technical challenges for PV makers.

One area of concern for replacing silver with copper is the high temperatures needed in the fabricating process for tunnel oxide passivated contact (TOPCon) cells, the technology currently dominating the solar panel industry.

This might not be as big an issue for LONGi Green Energy, which manufactures back-contact (BC) cells. The technical processes for adapting copper to this new type of solar cell architecture is much simpler compared to TOPCon cells.

“New generations of copper-metallized cells are achieving efficiency levels increasingly close to those of traditional silver-based models,” said Di Giacomo. “In some cases, improvements are even being observed in mechanical strength and module durability, key factors for long-term solar installations and operation under demanding environmental conditions.”

BC cells have also been shown to generate more power from the same amount of sunlight compared to TOPCon cells. A white paper from renewable energy advisory company Rinnovabili states that field data indicates that BC modules are capable of producing up to 11 percent more energy over their lifetime compared to TOPCon technology.

How will substitution impact silver?

In a November 2025 report, the Silver Institute reported that industrial silver demand is projected to drop by 2 percent in 2025 to 665 million ounces. One of the contributing factors in the decline is an approximate 5 percent decrease in silver demand from the solar industry, even though the number of global PV installations set a new record high for the year. This is “due to a sharp drop in the amount of silver used in each module,” according to the firm.

“A sustained reduction in solar sector silver demand could alter market dynamics,” warned Di Giacomo.

However, at this point it’s too early to tell. For one, TOPCon technology is expected to account for 70 percent of the market in 2026. The cost of manufacturing BC cells is not expected to reach parity with TOPCon cells until the end of the decade, said Molly Morgan, senior research analyst at CRU Group, as reported by pv magazine.

“That’s why we believe we might see a coexistence of the two technologies in the 2028 to 2030 timeframe,” she said.

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

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Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to announce the results of its 2025 exploration program completed at the Company’s 100%-owned Blue Lagoon Project in Greenland (Figure 1).

Highlights

  • Maiden sampling program at the Blue Lagoon Project (Blue Lagoon) unlocks new Zirconium (Zr) and Rare Earth Elements (REE) potential district in Greenland.
  • First sampling program at Blue Lagoon since 1979 has successfully returned elevated Zr + REE mineralisation. All 113 samples returned anomalous values, across a ~2.7km strike – indicating a highly prospective new critical metals district in Greenland.

Zirconium & Hafnium

  • Exceptional high-grade Zirconium Oxide (ZrO2) and Hafnium Oxide (HfO2) surface samples include:
    • 4.42% ZrO2 & 98ppm HfO2 (Sediment Sample 26818D)
    • 4.09% ZrO2 & 99ppm HfO2 (Sediment Sample 26817D)
    • 3.82% ZrO2 & 82ppm HfO2 (Sediment Sample 26808D)
    • 3.58% ZrO2 & 61ppm HfO2 (Sediment Sample 26820D)
    • 3.13% ZrO2 & 62ppm HfO2 (Sediment Sample 26803D)
    • 2.85% ZrO2 & 73ppm HfO2 (Sediment Sample 26806D)
  • >2% ZrO2 and >40ppm HfO2 encountered in auger holes and sediment samples across the entire ~2.7km strike, indicating a large-scale, broad and well mineralised target area.
  • Hafnium is a critical semiconductor metal, which has become vital for supercharging the next-generation microchips and semiconductors, due to its high-K constant (dielectric constant) allowing Hafnium to store significantly more electrical charge than traditional SiO2 based semiconductors.
  • HfO2 has a K-constant approximately ~6x higher than SiO2, with one of the highest melting points of any compound, resulting in >1000x reduction in electron leakage through transistors versus SiO2 – underpinning the next generation of high-performing semiconductors1.
  • HfO2 (High Purity) indicative sale price currently at AU $16,297/kg, reflecting its advanced chemical properties, increasing demand in high‑tech applications, and the scarcity of hafnium‑bearing minerals2.
    • Blue Lagoon sampling has confirmed a ~2.7km strike with >2% ZrO2 and >40ppm HfO2 at surface, with potential for Hafnium grades to concentrate further at depth, subject to drilling confirmation.

Rare Earths

  • The Blue Lagoon Project has returned high-grade REE results with consistent elevated Magnet Rare Earth Oxides (MREO)13 encountered at surface, with Total Rare Earth Oxide (TREO)13,16 grades highlighted by:
    • 8,079 ppm TREO with 29% MREO (Sediment Sample 26824D)
    • 6,491 ppm TREO with 27% MREO (Sediment Sample 26801D)
    • 5,668 ppm TREO with 27% MREO (Sediment Sample 26824C)
    • 5,654 ppm TREO with 27% MREO (Sediment Sample 26823D)
    • 5,519 ppm TREO with 25% MREO (Sediment Sample 26818D)
  • Blue Lagoon has shown exceptional Heavy Rare Earth Oxides (HREO)14,15 enriched in Dysprosium (Dy2O3) and Terbium (Tb4O7) grades encountered at surface, unlocking a new completely untapped district in Greenland:
    • 886ppm HREO (Sediment Sample 26824D)
    • 752ppm HREO (Sediment Sample 26801D)
    • 742ppm HREO (Sediment Sample 26823D)
    • 682ppm HREO (Sediment Sample 26807D)
    • 654ppm HREO (Sediment Sample 26806D)
    • 628ppm HREO (Sediment Sample 26818D)
    • 615ppm HREO (Sediment Sample 26808D)
    • 597ppm HREO (Sediment Sample 26824C)
    • 596ppm HREO (Sediment Sample 26817D)
    • 589ppm HREO (Sediment Sample 26822D)
    • 559ppm HREO (Sediment Sample 26820D)
  • TREO grades and HREO grades have the strong potential to improve as Dalaroo continues to assess full district potential of the Blue Lagoon Project and drill test immediate targets to determine the scale of the mineralised system.
  • Importantly, sampling at Blue Lagoon has returned low Uranium levels, with a maximum reading of 25ppm U3O8 which has the potential to simplify processing complexities and encouragingly falls below the 100ppm uranium threshold levels for permitting in Greenland
  • Placer & Liberated REE Potential: These exceptional REE grades were encountered at surface, consistently over the entire ~2.7km strike. With the natural weathering having enriched the REE into beach-like alluvial sediments – indicating potential for a proximal placer style REE deposit, where REE grains have been freely-liberated and has the potential to produce a REE concentrate through low CAPEX, simple physical separation methods.

Click here for the full ASX Release

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Will Rhind, CEO of GraniteShares, outlines his thoughts on gold and silver heading into 2026, noting that historical precedents point to higher prices.

‘Clearly when you look back on some of those other periods for gold — and silver particularly — where they went to all-time highs, then we could be talking about a lot higher prices,’ he said.

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

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(TheNewswire)

 

Prismo’s Interest Currently Stands at 95% With Option for Full Control

Vancouver, British Columbia, January 16th, 2025 TheNewswire – Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that it has completed its previously announced transaction with Infinitum Copper Corp. (TSXV: INFI) (‘Infinitum’) whereby Prismo has increased its interest in the Hot Breccia copper project, located in the heart of Arizona’s prolific copper belt, from 75% to 95%. In addition, Prismo has obtained an irrevocable option to acquire Infinitum’s remaining 5% interest, providing a clear path to 100% interest in the project.

Alain Lambert, CEO of Prismo commented: ‘This transaction marks a significant milestone for Prismo and provides a clear mechanism to securing full ownership of Hot Breccia. It materially improves the strategic flexibility of the project.’

He added: ‘Prismo remains firmly committed to advancing Hot Breccia. The recent extension of certain milestone obligations under the option agreement with Walnut Mines LLC, the owner of the Hot Breccia claims, together with the completion of the transaction with Infinitum, provides the Company with additional flexibility as we evaluate a range of strategic alternatives. Each of these pathways’ goal is to drill what we consider to be one of the most compelling copper exploration opportunities in Arizona and the broader United States.

Dr. Linus Keating, manager of Walnut Mines LLC, enthusiastically commented: ‘Walnut Mines is solidly in favor of any action that moves Hot Breccia closer to a serious drill program. We are hopeful that this transaction will accomplish that goal in 2026. In our opinion, this property remains one of the best copper exploration opportunities in North America.’

Under the terms of the transaction, Prismo paid Infinitum CA $185,000 to acquire a 20% additional interest in the Hot Breccia project and assumed all of Infinitum’s remaining obligations under the existing option agreement with Walnut to issue shares to Walnut, which has been satisfied by the issuance to Walnut of 450,630 common shares at a deemed issue price of $0.11 per share. Prismo has also agreed to pay Infinitum 5% of any consideration received in connection with a transaction in which Prismo assigns its interest in Hot Breccia to a third party to acquire the 5% interest held by Infinitum.

Prismos Hot Breccia project lies at the heart of the Arizona Copper Belt, which hosts several globally significant porphyry copper deposits.  Examples of these significant deposits are Freeport McMoRan’s Miami-Inspiration mining complex, BHP’s San Manuel mine, Rio Tinto and BHP’s Resolution deposit and others (see Figure 1).  

 

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

The Company wishes to update its January 12th, 2026 news release to confirm that the Company issued 2,250,000 units for gross proceeds of $225,000 and issued 140,000 Finder’s Warrants and paid finder’s commissions of $14,000 to a certain qualified finder. Each Unit consisted of one common share in the capital of the Company (a ‘Share‘) and one common share purchase warrant of the Company (a ‘Warrant‘). Each Warrant entitles the holder to purchase one Share for a period of thirty-six (36) months from the date of issue at an exercise price of $0.175. Prismo intends to proceed next week a final closing of 1,500,000 Units for gross proceeds of $150,000.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram, and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6  Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as intends‘ or anticipates, or variations of such words and phrases or statements that certain actions, events or results may’, could‘, should‘, would‘ or occur. This information and these statements, referred to herein as ‘forwardlooking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and anticipated results of drilling at Hot Breccia; the ability of Prismo to fund drilling and pursue potential third-party partnerships; the Company’s strategic flexibility with respect to the Hot Breccia project going forward; the number of shares issuable by Prismo to Walnut pursuant to the transaction described in this news release; and the Company’s expectations regarding mineralization and other qualities of the Hot Breccia project.

These forwardlooking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia; the risk that the Company will not enter into a third-party partnership with respect to the Hot Breccia project; the risk that mineralization will not be as anticipated at the project; the risk that the Company will not be able to take advantage of geological information to refine drill targeting; metal prices; market uncertainty; and other risks and uncertainties application to exploration activities and the Company’s business as set forth in the Company’s disclosure documents available for viewing under the Company’s profile on SEDAR+ at www.sedarplus.com.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Hot Breccia and the timing of such drilling campaign; the ability of the Company to enter into a third-party partnership on the project; that the project will have the anticipated mineralization and other qualities; and the  Company will be able to take advantage of geological information to refine drill targeting.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2026 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday.

The move comes after Saks Global struggled with debt it took on to buy rival Neiman Marcus, lagging department store sales and a rising online market.

It’s one of the largest retail collapses since the Covid pandemic, and casts further doubt over the future of luxury fashion.

The retailer, which also owns Bergdorf Goodman, said early Wednesday its stores would remain open for now after it finalized a $1.75 billion financing package and appointed a new CEO.

The court process is meant to give the luxury retailer room to negotiate a debt restructuring with creditors or sell itself to a new owner to stave off liquidation. Failing that, the company may be forced to shutter.

Former Neiman Marcus CEO Geoffroy van Raemdonck will replace Richard Baker, who was the architect of the acquisition strategy that left Saks Global saddled with debt.

The company also appointed former Neiman Marcus executives Darcy Penick and Lana Todorovich as chief commercial officer and chief of global brand partnerships at Saks Global, respectively.

Saks Fifth Avenue, the retail arm of Saks Global, listed $1 billion to $10 billion in assets and liabilities, according to court documents filed in U.S. Bankruptcy Court in Houston.

A retailer long loved by the rich and famous, from Gary Cooper to Grace Kelly, Saks fell on hard times after the pandemic, as competition from online outlets rose, and brands started more frequently selling items through their own stores.

The original Saks Fifth Avenue store, known for displaying the likes of Chanel, Cucinelli and Burberry, was opened by retail pioneer Andrew Saks in 1867.

The new financing deal would provide an immediate cash infusion of $1 billion through ‌a loan from an investor group, Saks Global said.

A host of luxury brands were among the unsecured creditors, led by Chanel and Gucci owner Kering at about $136 million and $60 million respectively, the court filing said. The world’s biggest luxury conglomerate, LVMH, was listed as an unsecured creditor at $26 million. In total, Saks Global estimated there were between 10,001 and 25,000 creditors.

In 2024, Baker had masterminded the takeover of Neiman Marcus by Canada’s Hudson’s Bay Co, which had owned Saks since 2013, and later spun off the U.S. luxury assets to create Saks Global, bringing together three names that have defined American high fashion for more than a century.

The deal was designed to create a luxury powerhouse, but it saddled Saks Global with debt at a time when global luxury sales were slowing, complicating an already difficult turnaround for CEO and veteran executive Marc Metrick.

Saks Global struggled last year to pay vendors, who began withholding inventory, disrupting the company’s supply chain and leaving it with insufficient stock.

The thinly stocked shelves may have driven shoppers away to rivals like Bloomingdale’s, which posted strong sales in 2025, compounding pressure on Saks Global.

“Rich people are still buying,” Morningstar analyst David Swartz said last month, “just not so much at Saks.”

Running out of cash, Saks Global last month sold the real estate of the Neiman Marcus Beverly Hills flagship store for an undisclosed amount. It had also been looking to sell a minority stake in exclusive department store Bergdorf Goodman to help cut debt.

On Dec. 30, it failed to make an interest payment of more than $100 million to bondholders.

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Democrats and Republicans are united in opposing U.S. military strikes against Iran to retaliate for the killing of protesters amid a wave of massive demonstrations against the Iranian government in recent weeks, according to a new national poll.

Seventy percent of voters questioned in a new Quinnipiac University survey said they think the U.S. should not get involved militarily in Iran, with 18% saying the U.S. should take military action.

The vast majority of Independents (80%-11%) and Democrats (79%-7%), as well as a majority of Republicans (53%-35%) said the U.S. should not get involved if protesters in Iran are killed while demonstrating against the regime.

The poll, conducted Jan. 9–12, comes as President Donald Trump has turned up the heat on the regime in Tehran, threatening strikes on Iran if its forces continue to kill demonstrators.

The U.S.-based Human Rights Activists News Agency announced Tuesday that nearly 2,000 people have been killed in the protests. Other reports say the death toll is over 3,000, with the real number likely to be even higher. 

The protests against Iran’s dire economic conditions, which have rapidly escalated in recent days, are seen as some of the most violent since the 1979 Islamic Revolution that installed the current system of clerical rule.

Trump took to social media earlier this week, urging ‘Iranian Patriots, KEEP PROTESTING — TAKE OVER YOUR INSTITUTIONS.’

The president also said that ‘HELP IS ON ITS WAY,’ and apparently pointing to Iranian authorities, he warned, ‘They will pay a big price.’

Pointing to the possibility of Iranian authorities executing some of the protesters, Trump said in a CBS News interview this week, ‘If they do such a thing, we will take very strong action.’

And the White House confirmed on Monday that Trump was weighing whether to bomb Iran in reaction to the crackdown.

But seven in 10 questioned in the poll said that, in general, a president should first receive congressional approval before deciding to take military action against another country.

‘Talk of the U.S. military potentially intervening in Iran’s internal chaos gets a vigorous thumbs down, while voters signal congressional approval should be a backstop against military involvement in any foreign crisis,’ Quinnipiac University polling analyst Tim Malloy said.

But there’s a partisan divide, with 95% of Democrats and 78% of Independents saying a president should first receive approval from Congress, but Republicans, by a 54%-35% margin, saying congressional approval is not needed.

Trump last June ordered U.S. military strikes on three Iranian nuclear facilities as part of Operation Midnight Hammer, amid fighting between Tehran and Israel.

Voters are also divided on Trump’s move earlier this month to capture Venezuelan President Nicolás Maduro and his wife and bring them to the U.S. to face drug trafficking charges. Forty-seven percent supported the president’s decision, with 45% opposed.

And there was an expected partisan divide, with 85% of Republicans supporting the military action to capture Maduro, with 79% of Democrats opposed. Independents were divided.

More than half of voters (57%) opposed the U.S. running Venezuela until Washington is satisfied that the government there will operate the way the U.S. wants it to. Nearly three-quarters (73%) said they opposed sending U.S. ground troops to Venezuela and 55% opposed the U.S. taking over the South American country’s oil sales.

‘Voters are divided on the merits of overthrowing Maduro. And while split on whether in the long run the people of Venezuela will be better off, they strongly disapprove of America’s temporary domain over Venezuela and are heartily against putting U.S. troops on the ground,’ Malloy noted.

Trump has also turned up the volume in his efforts to acquire Greenland from Denmark.

‘The United States needs Greenland for the purpose of national security,’ the president argued in a social media post Wednesday.

Trump’s push for the U.S. to acquire Greenland is causing tension with Denmark and other NATO allies who insist that the semiautonomous Danish territory should determine its own future. 

Trump officials are openly considering all options, including military force, to take Greenland, spurring bipartisan opposition from some in Congress.

According to the poll, 86% of voters said they would oppose military action to take over Greenland. And by a 55%-37% margin, voters said they opposed trying to buy Greenland.

But there’s a stark political divide, with more than two-thirds of Republicans supporting efforts to buy or capture Greenland.

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A Senate Republican wants to crack down on childcare providers convicted of fraud with legislation that would, among a handful of tweaks to current law, require the fraudsters to pay back the misspent taxpayer money.

The bill from Sen. John Cornyn, R-Texas, would amend the Child Care and Development Block Grant Act to impose harsher penalties on childcare providers convicted of fraud, and one of several moves in the upper chamber to tackle the sprawling Minnesota fraud scandal.

Cornyn’s bill, the Stop Fraud by Strengthening Oversight and More Accountability for Lying and Illegal Activity (SOMALIA) Act, is narrowly tailored toward addressing fraudulent activity in childcare and daycare centers, but the breadth and scope of the unfurling scandal goes beyond that.

Federal prosecutors estimate that up to $9 billion was stolen through a network of fraudulent fronts posing as daycare centers, food programs and health clinics.

‘The Minnesota scandal has exposed a deep-rooted, morally bankrupt fraud empire, and it is clear more must be done to rid our nation of these heinous criminals,’ Cornyn said in a statement to Fox News Digital.

The legislation would require mandatory permanent debarment from all federally funded child care assistance programs, repay misspent federal funds, require referral for federal criminal investigations, and require states to enforce the above bans and halt providers from evading debarment by restructuring the business or changing the business name.

There’s also an immigration component to the bill that would make non-citizens convicted of fraud deportable, bar them from asylum, adjustment of status, and subject them to mandatory detention and expedited removal.

Cornyn’s effort is one of many coming from the Senate GOP, where lawmakers are looking at several options to crack down on fraud, both in Minnesota and more broadly in the federal government.

Every Senate Republican joined in on a letter to Minnesota Gov. Tim Walz last week, and demanded that he provide a paper trail on the state’s role in the scandal. And Senate Majority Leader John Thune, R-S.D., floated that budget reconciliation, the same procedure used to pass President Donald Trump’s ‘big, beautiful bill,’ could be used to deal with fraud.

And the Trump administration has moved to or threatened cancellation of federal funds to the state in the wake of the scandal.

‘I applaud President Trump for his efforts to end this corruption, and I’m proud to take it a step further with the Stop Fraud by SOMALIA Act, which would ensure these consequences are enshrined into law before any more funds are misused or sent overseas to fund American-hating terrorist networks like we saw in now-disgraced Governor Walz’s state,’ Cornyn said.

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France’s ambassador to the United Nations said Paris has strongly condemned Iran’s violent crackdown on nationwide protests, as the French government weighs possible satellite communications support to help Iranians circumvent a near-total internet blackout.

In an exclusive interview with Fox News Digital, Jerome Bonnafont described what he said was an escalation in repression by Iranian authorities and outlined France’s response, including sanctions and diplomatic pressure.

‘We have condemned very, very strongly, at the highest level, the repression against the popular movement in Iran,’ Bonnafont said. ‘This time it seems to me that the repression is even more violent than it used to be.’

His remarks come as France’s foreign minister confirmed Paris is studying the possible transfer of satellite terminals operated by Eutelsat to Iran, following a sweeping internet shutdown imposed by Iranian authorities during the unrest, and as the G7 issued a joint statement condemning Iran’s violent crackdown on nationwide protests. 

The foreign ministers of France, the United States and other G7 nations warned they were prepared to impose additional restrictive measures if Iran continues to violate international human rights obligations.

Earlier Tuesday, Israel’s foreign minister, Gideon Saar, urged France to support designating Iran’s Islamic Revolutionary Guard Corps as a terrorist organization at the EU level during a call with French Foreign Minister Jean-Noel Barrot.

Asked whether France would back such a move, Bonnafont did not address the IRGC designation directly, instead emphasizing existing sanctions and international pressure.

‘There are sanctions against the police of the regime. And there are sanctions also against several individuals, more than 200 people in Iran for these reasons,’ he said.

‘What we have to do is to condemn and to address the right message to the people in Iran and to the regime, so that the regime stops with this massive repression.’

NATO and Europe’s defense responsibility

Bonnafont also addressed repeated calls from President Donald Trump for European allies to shoulder more of NATO’s defense burden, arguing that Europe is already moving in that direction.

‘There is a will by the Europeans to take the full responsibility of the protection of its own continent,’ he said.

He stressed that the approach reflects a long-standing French position. ‘It is a very old theme for the French governments that there has to be within NATO an autonomous, self-capable entity for European defense,’ Bonnafont said, referring to France’s long-standing advocacy for European strategic autonomy, a position repeatedly emphasized by President Emmanuel Macron.

Ukraine as a test case

Bonnafont pointed to Europe’s response to Russia’s war in Ukraine as evidence that European governments are prepared to act collectively when core security interests are threatened.

‘Ukraine has been attacked by Russia four years ago. Now it has been invaded by Russia, and it has decided to resist and to fight for its independence, its territorial integrity, its sovereignty,’ he said.

He described European backing for Kyiv as both unified and extensive. ‘And Europeans are going in support of Ukraine. And what we are doing in terms of financial support is massive. What we are doing in terms of political support is unanimous,’ Bonnafont said.

According to the ambassador, France and the United Kingdom are working to organize what he described as a ‘coalition of volunteers’ to provide Ukraine with long-term security guarantees once negotiations with Russia become possible.

‘When Ukraine enters into discussion with Russia, and when Russia accepts to enter into discussion with Ukraine, and when the elements of a peace, sustainable peace, are put on paper, Ukraine can have security guarantees,’ he said.

Bonnafont also pointed to France’s domestic budget decisions as evidence that Europe is backing rhetoric with resources. ‘There is presently the negotiation of the next budget for France for 2026,’ he said. ‘It includes a strong increase in our defense budget, and it is the only budget that is going to be increased in our whole budget this year.’

UN reform and budget cuts

Beyond NATO and Europe’s defense posture, Bonnafont said France is pushing for institutional reform at the United Nations, where member states recently approved significant budget reductions. ‘The institution has to reform. It always has to reform,’ he said.

‘We decided by consensus with the American government and all the others a budget which presents a reduction of 20% of manpower and a reduction of 15% of the funds allocated to the U.N.,’ Bonnafont added. ‘Give me another example of a public structure that is capable of such an effort in such a short time,’ he said.

Despite the cuts, he defended the U.N.’s relevance. ‘Yes, we are serious about reform. Yes, we want it to be streamlined,’ Bonnafont said. ‘But yes, we need the U.N. for the world.’

UNRWA dispute and U.S. funding cuts

Asked about the U.S. decision to halt funding for several U.N. agencies, including UNRWA, Bonnafont defended the agencies, saying, ‘Organizations are more efficient when they are universal,’ adding that participation remains a sovereign decision for the United States.

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The Iranian regime has allegedly broadcast at least 97 ‘coercive confessions’ from detained protesters on state television in just over two weeks, human rights groups say, as residents endure the longest internet blackout on record.

The videos reportedly feature handcuffed detainees with blurred faces showing remorse for their actions since the protests began Dec. 28, according to a rights group tracking the videos.

It said ominous music can be heard, and edited footage shows attacks on security forces, according to reporting by The Associated Press and data from the Human Rights Activists News Agency (HRANA).

Other rights groups also claim the confession videos are coerced and obtained under duress, with protesters ‘dragged before cameras under the threat of torture and execution.’

‘The regime’s broadcast of so-called confessions by detained protesters is a threadbare and worn tactic,’ Ali Safavi, a senior official with the National Council of Resistance of Iran (NCRI), told Fox News Digital.

‘Time and time again, the henchmen drag arrested demonstrators before cameras under the threat of torture and execution, coercing them to recant their beliefs or invent absurd stories.’

The broadcasts come amid nationwide protests sparked by public anger over political repression, economic collapse and alleged abuses by security forces.

Demonstrations have spread across major cities despite mass arrests, lethal force and sweeping restrictions on communication.

Safavi said the confessions serve a dual purpose. 

‘First, they are meant to justify the mass slaughter of protesters, no fewer than 3,000, which NCRI President-elect Maryam Rajavi has stated constitute manifest crimes against humanity,’ he said.

‘These forced confessions are designed to demoralize the Iranian people and sow fear and doubt.’

But he said any mass executions or staged confessions ‘won’t achieve that because no amount of televised coercion or repression will break the protesters’ resolve.’

U.S.-based HRANA has warned that forced confessions in Iran frequently follow psychological or physical torture and can carry severe consequences, including death sentences.

‘These rights violations compound on top of each other and lead to horrific outcomes,’ Skylar Thompson, HRANA group’s deputy director, told The Associated Press, adding that the scale of broadcasts is unprecedented.

The confession campaign coincides with a sweeping internet shutdown that has effectively cut the public off from independent information.

According to NetBlocks, Iran’s internet blackout has surpassed 144 consecutive hours, making it one of the longest disruptions ever recorded.

‘The shutdown is still ongoing, making it one of the longest blackouts on record,’ Isik Mater, NetBlocks’ director of research, told Fox News Digital.

‘State TV continues to operate normally via satellite transmission, which does not depend on the public internet, which means households can still watch Iranian state channels even during a near-total shutdown.’

Mater said the blackout magnifies the impact of state propaganda because ‘while the public is cut off, the state relies on broadcast media and its domestic National Information Network to control what people see,’ he said, likening Iran’s information strategy to that of North Korea.

‘A useful comparison is North Korea where the vast majority of citizens there have little to no access to the global internet, yet the state TV and radio broadcast regime propaganda 24/7,’ he said.

‘Information flows through closed systems, like North Korea’s domestic intranet Kwangmyong and not the open internet.’

Mater added that shutdowns are highly selective, with senior officials and state institutions retaining connectivity through ‘whitelisted networks.’

‘Senior officials and state institutions retain connectivity via whitelisted government networks and private links,’ Mater said.

‘This is why Ali Khamenei and other government officials continue posting on global social media platforms during the blackout, enabling the regime to shape the narrative internationally while citizens are unable to document events or even respond.’

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