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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Kobo Resources Inc. (‘ Kobo ‘ or the ‘ Company ‘) ( TSX.V: KRI ) intends to complete a non-brokered private placement of up to 10,000,000 units (the ‘ Units ‘) at a price of $0.30 per Unit for gross proceeds of up to $ 3.0 million (the ‘ Offering ‘). Each Unit will be comprised of one Common Share and one-half Common Share Purchase Warrant. Each Warrant will entitle its holder to acquire one Common Share at a price of $0.55 for a period of 24 months from the Closing Date. The Units will be issued pursuant to exemptions from the prospectus requirements in accordance with NI 45-106. The securities underlying the Units will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250819849238/en/

Edward Gosselin, CEO and Director of Kobo commented: ‘After the completion of the diamond drilling program in 2024 and 2025, we look forward to expanding our exploration efforts at our Kossou Gold Project in the second half of 2025. Following the expected closing of this financing, the additional capital will enable us to enhance our current exploration initiatives in 2025 on our three main targets, for the Kossou Gold Project.’

The Company intends to use the net proceeds of the Offering to pursue its exploration initiatives initiated in H1-2025 and extend the known zones of mineralisation at its three main targets, the Road Cut Zone, Jagger Zone and Kadie Zone on the Kossou Gold Project, initiate preliminary metallurgical work and further develop its ongoing soil geochemical and trenching survey at Kossou as well as to enhance the geological exploration program on the Kotobi research permit and for general corporate and working capital purposes.

Closing of the Offering may occur in one or more closings with the first closing expected to occur on or about August 28, 2025 and the final closing to occur no later than September 5, 2025 (the ‘ Closing ‘), and are subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The Units, Common Shares and Warrants have not been registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the ‘United States’ or ‘U.S. persons’ (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with an exemption from such registration requirements. This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project . Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

Beyond Kossou , the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d’Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release may contain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements, including statements related to the Offering or to the exploration program of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable as at the date of this news release, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inherent risks involved win the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive board, shareholder or regulatory approvals; and other risk factors listed from time to time in our documents filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca . 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 the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250819849238/en/

For further information, please contact:

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

News Provided by Business Wire via QuoteMedia

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Investing

Allied Critical Metals Appoints Former U.S. Secretary of Homeland Security Kirstjen Nielsen as a Director of Allied Critical Metals USA

Highlights:

Secretary Nielsen joins the board of directors of Allied USA.
Secretary Nielsen is a leading expert on United States national security matters and has advised government agencies, private sector companies, international organizations, and NGOs on assessing their risk posture and increasing their resiliency.
Allied USA is focused on importation, marketing and sales of tungsten into the United States.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce the appointment of former U.S. Secretary of Homeland Security Kirstjen M. Nielsen as a Director of Allied’s wholly owned U.S. subsidiary, Allied Critical Metals (USA) Inc. (‘Allied USA’).

As a Director of Allied USA, Secretary Nielsen will provide strategic counsel to Allied USA, which is focused on the importation, marketing, and distribution of tungsten across key U.S. sectors. Her appointment comes as the Company deepens its engagement with U.S. government agencies and defense partners to ensure a secure, domestic supply of critical materials vital to national security.

‘Secretary Nielsen brings deep expertise in homeland security, public policy, and critical infrastructure,’ commented Roy Bonnell, CEO of the Company. ‘Her insights into federal operations, supply chain resilience, and defense readiness will be invaluable as we position ACM as a trusted partner in strengthening America’s access to strategic minerals like tungsten.’

Secretary Nielsen served as the sixth Secretary of the U.S. Department of Homeland Security (DHS) from 2017 to 2019, where she led efforts to protect the homeland from evolving threats, including cyberattacks, terrorism, and vulnerabilities in critical infrastructure. She previously served as Principal Deputy Chief of Staff to the President and Chief of Staff at DHS, and was a senior advisor under the George W. Bush administration, where she helped shape national preparedness policy following the 9/11 attacks.

In addition to her government service, Secretary Nielsen has held leadership roles in the private sector, including as president of a consulting firm focused on risk management and resilience. She has advised Fortune 500 companies, federal agencies, and global organizations on security, strategic response, and continuity of operations.

‘I am honored to join Allied Critical Metals at such a pivotal time,’ commented Secretary Nielsen. ‘Securing the domestic supply of critical materials like tungsten is essential to national security, economic resilience, and global competitiveness. I look forward to supporting Allied USA’s efforts to strengthen the U.S. supply chain and advance its mission.’

Tungsten is a critical mineral used in aerospace, defense, electronics, and energy applications. ACM is committed to becoming a reliable Western supplier of tungsten, reducing dependence on non-aligned sources and supporting U.S. and allied interests in the critical minerals sector.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately USD $5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

ON BEHALF OF THE BOARD OF DIRECTORS

Per: ‘Roy Bonnell’

Roy Bonnell
Chief Executive Officer and Director

Contact Information

For further information or investor relations inquiries, please contact:
Dave Burwell, Vice President, Corporate Development
Tel: 403 410 7907 | Toll Free: 1-888-221-0915
Email: daveb@alliedcritical.com

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities of the Company have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263183

News Provided by Newsfile via QuoteMedia

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Investing

Crypto Market Update: Bitcoin and Ether ETFs Record US$1.3 Billion in Outflows

Here’s a quick recap of the crypto landscape for Wednesday (August 20) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$113,687, a 1.6 percent decline in 24 hours. Its lowest valuation of the day was US$112,647, while its highest was US$115,789.

Bitcoin price performance, August 20, 2025.

Chart via TradingView

Bitcoin continued its consolidation as investors awaited signals from the Federal Reserve ahead of Jerome Powell’s Jackson Hole speech. The decline mirrored a wider crypto pullback, fueled by liquidations and bearish sentiment. Despite short-term pressure, data shows long-term holders remain confident in Bitcoin’s outlook.

Ethereum (ETH) was priced at US$4,216.39, down by 2.3 percent over the past 24 hours. Its lowest valuation of the day was US$4,074.50, and its highest valuation was US$4,311.87.

Altcoin price update

Solana (SOL) was priced at US$181.14, down by 0.3 percent over 24 hours. Its lowest valuation of the day was US$1176.13, while its highest level was US$182.90.

XRP was trading for US$2.89, down 4.1 percent in the past 24 hours, and its highest valuation of the day. Its lowest was US$2.86.

Sui (SUI) was trading at US$3.48, down by 2.5 percent over the past 24 hours. Its lowest valuation of the day was US$3.42, while its highest was US$3.64.

Cardano (ADA) was trading at US$0.8572, down 7.9 percent over 24 hours. Its lowest valuation of the day was US$0.8449, while its highest was US$0.9454.

Today’s crypto news to know

Bitcoin and Ether ETFs shed nearly US$1 billion, Fear & Greed index slips to “Fear”

Bitcoin and Ether exchange-traded funds (ETFs) saw a wave of investor withdrawals this week, totaling nearly US$1 billion in just three days.

Spot Bitcoin ETFs recorded US$533 million in outflows on Tuesday (August 19), more than quadruple Monday’s figure. Ether ETFs also faced steep losses, with outflows jumping from US$200 million on Monday to US$422 million the next day.

Together, the two assets have seen US$1.3 billion in withdrawals since last Wednesday, coinciding with price declines of 8.3 percent for Bitcoin and 10.8 percent for Ether.

Investor sentiment in the crypto market has turned sharply negative following three straight days of heavy ETF outflows.

The widely followed Crypto Fear & Greed Index dropped to 44 on Wednesday, slipping into the “Fear” category for the first time in weeks. The index tracks volatility, market momentum, and trading activity to gauge overall mood, and its decline reflects mounting concerns over recent price drops.

Fed supervision chief pushes for Crypto integration

Michelle Bowman, the US Federal Reserve’s new vice chair for supervision, signaled strong support for crypto adoption in her first major policy speech on the subject.

Speaking at the Wyoming Blockchain Symposium, Bowman argued that banks risk becoming irrelevant if they fail to embrace digital assets, calling for a “clear, strategic regulatory framework” tailored to crypto rather than relying on outdated banking standards.

Bowman, who was nominated by President Donald Trump and sworn in two months ago, will play a central role in shaping US rules for stablecoins under the GENIUS Act.

In her remarks, she highlighted tokenization’s potential to reduce costs and improve financial efficiency, while stressing that regulators must distinguish digital assets from traditional instruments. She even suggested Fed staff should be allowed to hold small amounts of crypto to gain hands-on experience, likening it to learning how to ski by actually putting on skis.

‘We stand at a crossroads: we can either seize the opportunity to shape the future or risk being left behind,’ Bowman said.

South Korea halts new crypto lending amid investor losses, regulatory scrutiny

South Korea’s financial watchdog has ordered domestic crypto exchanges to stop offering new lending products, citing rising risks and investor losses.

The Financial Services Commission (FSC) confirmed that exchanges must suspend fresh lending operations until official guidelines are finalized.

Existing contracts, including repayments and maturity rollovers, will be allowed to continue in the meantime.

The decision follows reports of forced liquidations, with one exchange seeing over 3,600 users lose funds out of 27,600 participants in just a month, representing roughly US$1.1 billion in trading volume. Regulators also flagged cases of Tether-based lending that triggered unusual selling pressure on the stablecoin.

The FSC said it will carry out inspections and take enforcement action against platforms that fail to comply.

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

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

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Economy

Group accused of using fake accounts to buy tickets to Taylor Swift and Springsteen shows

A ticket-reselling operation used a network of fake accounts to bypass Ticketmaster’s security protocols to grab hundreds of thousands of tickets to hugely popular tours for artists like Taylor Swift and Bruce Springsteen and then re-sold them for millions, federal regulators said Monday.

The Federal Trade Commission alleges the operation used illicit software that masked IP addresses, as well as repurposed credit cards and SIM phone cards, as part of the scheme. It was run through various guises, like TotalTickets.com, TotallyTix and Front Rose Tix, but was run by three key individuals, the agency said.

In total, the group is accused of buying 321,286 tickets to 3,261 live performances from June 2022 to December 2023, in bunches of 15 or more tickets to each event at a total cost of approximately $46.7 million and then reselling them for $52.4 million, netting approximately $5.7 million.

Taylor Swift.Lewis Joly / AP file

That includes $1.2 million from reselling tickets in 2023 for Taylor Swift’s record-breaking “The Eras Tour.” In one instance, the suspects used 49 different accounts to purchase 273 tickets for Swift’s March 2023 tour stop in Las Vegas, vastly exceeding Ticketmaster’s six-ticket limit, which they then sold for $120,000, the FTC alleges.

Another part of the alleged scheme involved using friends, family and paid strangers to open Ticketmaster accounts. The FTC says the defendants at one point printed up flyers in places like Baltimore claiming that participants could “make money doing verified van sign ups” in just “3 easy steps,” earning $5 for the account creation and $5 to $20 each time they received a Verified Fan presale code.

Ticketmaster came in for heavy criticism after fans complained of faulty technology and eye-watering prices for 2022 sales for Taylor Swift and Bruce Springsteen’s tours. The Verified Fan pre-sale for Swift’s tour crashed its site, which it blamed on “bot attacks” and bot fans who didn’t have invite codes. It was subsequently forced to postpone the sale date for the general public seeking tickets to Swift’s tour “due to demands on ticketing systems and insufficient remaining ticket inventory.”

In response, Swift alluded to broken “trust” with Ticketmaster, though she didn’t name it directly.

“It’s really difficult for me to trust an outside entity with these relationships and loyalties, and excruciating for me to just watch mistakes happen with no recourse,” she wrote in an Instagram message in 2022, adding: “I’m not going to make excuses for anyone because we asked them multiple times if they could handle this kind of demand and we were assured they could.”

Springsteen said in a statement at the time that “ticket buying has gotten very confusing, not just for the fans, but for the artists also” but that most of his tickets are “totally affordable.”

In March, President Donald Trump signed an executive order focused on curbing exploitative ticket reselling practices that raise costs for fans.

On Monday, FTC Chairman Andrew N. Ferguson said Trump’s order made clear ‘that unscrupulous middlemen who harm fans and jack up prices through anticompetitive methods will hear from us.”

“Today’s action puts brokers on notice that the Trump-Vance FTC will police operations that unlawfully circumvent ticket sellers’ purchase limits, ensuring that consumers have an opportunity to buy tickets at fair prices,” he said in a statement.

Ticketmaster itself has remained under federal scrutiny for violating a prior agreement to curb what regulators said was anti-competitive behavior. In 2024, the Justice Department and FTC under President Joe Biden opened a lawsuit against Ticketmaster’s parent company, LiveNation, that accused it of monopolizing the live events industry.

It was not immediately clear whether that suit is still active. In July, the parent company of the alleged operation charged Monday by the FTC, Key Investment Group, sued the agency to block its pending investigation into its sales practices, saying that ticket purchases on its site did not use automated software, or bots, and did not violate the 2016 Better Online Ticket Sales (BOTS) Act.

Representatives for the FTC and Justice Department did not respond to a request for comment. Ticketmaster is not accused of wrongdoing in the latest suit. It did not respond to a request for comment.

Strangely, in the latest complaint, the FTC includes a slide from an internal Ticketmaster presentation from 2018 that suggests the company was weighing the economic impact of imposing stricter purchasing caps that would curb bots but potentially hurt its finances. On a page labeled “evaluating potential actions” a data table is shown under the heading “serious negative economic impact if we move to 8 ticket limit across the board.”

It also includes an email from one of the defendants in which he “owns up” to having exceeded the ticket-purchase limit for a May 2024 Bad Bunny show in Miami and offers to have the orders canceled, to which a Ticketmaster rep simply responds that “as long as the purchases were made using different accounts and cards, it’s within the guidelines.”

Efforts to reach the three defendants — Taylor Kurth, Elan Rozmaryn and Yair Rozmaryn — named in the suit announced Monday were unsuccessful. In 2018, Kurth signed a deal, or consent decree, with regulators in the state of Washington that committed him to not use software designed to circumvent companies’ security policies.

The FTC is seeking unspecified damages and civil penalties against the defendants.

CORRECTION (Aug. 19, 2025, 11:41 a.m. ET): An earlier version of this article incorrectly named a party suing the FTC and which investigation it was suing over. Key Investment Group, the parent of the alleged operation cited in the suit filed Monday by the FTC, sued the agency in July to halt an investigation into its practices. Ticketmaster and its parent, Live Nation, are not directly involved in that investigation or Key’s suit against the agency.

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Economy

Best Buy launches third-party marketplace as it looks for sales drivers

Best Buy is launching a third-party marketplace, as it tries to bulk up the variety of merchandise it offers and reverse slower sales.

Starting on Tuesday, shoppers who go to Best Buy’s website and app will see products and brands that weren’t available there before, including more tech-related accessories like custom video game controllers and some nontech items including seasonal decor and sports collectibles.

The company’s online marketplace riffs off those of other retailers, such as Amazon and Walmart, by relying on third-party sellers to stock, sell and ship inventory and taking a cut of their sales in the form of a commission.

“Everything we do is really centered around the customer and their technology needs, and we do see customers actually doing a lot of consumer electronics transactions through marketplaces,” Chief Customer, Product and Fulfillment Officer Jason Bonfig said. “And as a result of that, we need to make adjustments to be where the customer’s at.”

He said Best Buy noticed gaps in its assortment that the new platform will help it fill. For instance, Bonfig said the company didn’t carry batteries for some older cameras or cases for older smartphones. And it didn’t offer some items that complement Best Buy purchases, such as furniture that goes around a big-screen TV or cookware to use with a new kitchen appliance.

Along with adding those items, the marketplace makes it possible for smaller vendors with innovative products to sell on Best Buy’s website when they’re not yet big enough to make or distribute the volume needed for its stores, he added.

Best Buy’s marketplace launches at a time when its business could use a boost. Its annual sales have declined over the past three years as the company contends with a sluggish housing market, selective consumer spending and a decline in device replacements after a spike in tech purchases during the Covid pandemic.

The company cut its sales outlook in May and said it expects full-year revenue to range from $41.1 billion to $41.9 billion. That would be similar to Best Buy’s annual revenue of $41.5 billion in the most recent fiscal year, but below the numbers it posted in the years leading up to and during the pandemic.

Best Buy will share its most recent earnings results and sales forecast on Aug. 28.

Tariffs have complicated the backdrop for Best Buy, too, since the higher duties have added costs for consumer electronics vendors and distracted them from other priorities like research and development that leads to new and innovative products, said Jonathan Matuszewski, a retail analyst at Jefferies. He said Best Buy tends to win sales instead of big-box or online competitors when there’s a leap forward in technology.

With the platform’s launch, Best Buy joins other retailers that have jumped on the trend of introducing or expanding third-party marketplaces. Lowe’s and Nordstrom started marketplaces last year. Ulta Beauty plans to launch its own later this year. And Target said it will expand its existing marketplace, Target Plus.

On Best Buy’s earnings call in May, CEO Corie Barry described the third-party marketplace as one of the company’s strategic priorities for the year. She said that new profit stream “is even more important in this environment” and will provide greater flexibility with the range of items and price points.

Plus, she said the marketplace supports the company’s growing advertising business. Sellers can buy ads for their products, including by paying for better placement in search results.

Marketplaces and the advertising opportunities that come with them tend drive higher profits for retailers, said Justin MacFarlane, a managing director for the global retail group of AlixPartners. Sellers buy, stock and ship products instead of the retailer, and take on both the expense of buying inventory and the risk that they may have to mark down unwanted items, he said.

Yet the business model comes with risks, too, he said. For instance, sellers may not have the same standards as a retailer and it could anger a retailer’s customers if they send products in torn boxes, with missing pieces or days later than expected. And he said retailers can flood their websites with so many different categories, brands and products that they overwhelm customers with choices that seem irrelevant to their company’s identity.

“You get addicted to the growth and more is more until it’s not,” he said.

At launch, Best Buy’s marketplace will have about 500 sellers, Bonfig said. He said the company vetted applicants and whittled them down to the ones who can provide a high-quality customer experience. The sellers must match Best Buy’s return policy, he added.

Customers can return purchases either directly to the seller or to Best Buy stores, he said.

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Economy

Apple just landed a key win for the global encryption fight

Apple clinched a major win Monday after the U.S. government announced that the U.K. had agreed to drop its demand for the company to provide a “back door” granting officials access to users’ encrypted data.

The iPhone maker won’t be alone to rejoice in the outcome.

The development came after extensive talks between Britain and the U.S., which had raised national security concerns over the request.

At the root of the row was end-to-end encryption, a technology which secures communications between two devices in a way that means not even the company providing a chat service can view any messages.

The story of Apple’s U.K. privacy battle started earlier this year, when it was reported that the British government had demanded access to the company’s encrypted cloud service via a technical “back door.”

Such a back door has long been contested by Apple. In 2016, the Federal Bureau of Investigation tried to get Apple to create software that would enable it to unlock an iPhone it recovered from one of the shooters involved in the 2015 terror attack in San Bernardino, California.

Other companies have also had to fend off government attempts to undermine end-to-end encryption. For example, when Meta announced plans to encrypt all messages on its Facebook Messenger app, the move drew condemnation from the U.K. Home Office. Meta had already offered encryption on WhatsApp.

The Monday news could have broader implications for the debate around end-to-end encryption globally.

Governments and law enforcement agencies have long pushed for methods to break such encryption systems to assist with criminal investigations into terrorism and child sexual abuse.

However, tech companies have said that building an encryption back door would not only undermine user privacy, but also expose them to possible cyberattacks. Cybersecurity experts say that any back door built for a government would eventually be found and exploited by hackers.

U.S. national intelligence officials were also worried by the ramifications of Apple offering such a back door.

For Apple, the U.K.‘s concession over encryption could mean that the company can bring back its most secure service for users’ cloud data, Advanced Data Protection (ADP), which the company stopped offering to Brits in February.

It is not yet clear if Apple will reintroduce its ADP service to the U.K. market.

CNBC has reached out to Apple and the U.K. government for comment.

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Politics

Bondi, Patel tap Missouri AG as additional FBI co-deputy director alongside Bongino

Attorney General Pam Bondi and FBI Director Kash Patel are bringing on Missouri Attorney General Andrew Bailey as an additional deputy director of the bureau, Fox News Digital has learned.

Bailey will serve as a co-deputy director, alongside Deputy Director Dan Bongino, Fox News Digital has learned.

‘I am thrilled to welcome Andrew Bailey as Co-Deputy Director of the FBI,’ Bondi told Fox News Digital. ‘He has served as a distinguished state attorney general and is a decorated war veteran, bringing expertise and dedication to service. His leadership and commitment to country will be a tremendous asset as we work together to advance President Trump’s mission.’

‘The FBI, as the leading investigative body of the federal government under the Department of Justice, will always bring the greatest talent this country has to offer in order to accomplish the goals set forth when an overwhelming majority of American people elected President Donald J. Trump again,’ Patel told Fox News Digital, adding that Bailey will be an ‘integral part of this important mission’ and said he looks forward to ‘the continued fight to save America together.’

Bailey, as Missouri’s attorney general, launched an anti-human trafficking task force and addressed more than 1,100 reported incidents in Missouri. He also cleared the backlog of Sexual Assault Forensic Evidence (SAFE) kits to improve prosecution of sexual assault cases.

Bailey’s office also defended the St. Louis Metropolitan Police Department in civil litigation and has consistently advocated for law enforcement. Bailey was endorsed by the Missouri Fraternal Order of Police.

Bailey’s office also reported a 133% increase in trial court-level criminal prosecutions.

Bailey also has held public officials accountable during his time as attorney general. He demanded the resignation of a sheriff for financial mismanagement and misconduct, and, separately, announced a grand jury indictment against a St. Louis county executive for stealing and election law violations.

‘I am eternally grateful for the opportunity to serve as the Co-Deputy Director of the Federal Bureau of Investigation,’ Bailey told Fox News Digital. ‘I extend my deepest gratitude to President Trump, U.S. Attorney General Bondi and Director Patel for the privilege to join in their stated mission to Make America Safe Again.’

A senior administration official told Fox News Digital that President Donald Trump ‘wants to see bad guys prosecuted, illegals deported, and corrupt politicians held accountable.’

‘We need all hands on deck to accomplish all of these important goals,’ the official said. ‘Andrew Bailey will serve as another set of credible, experienced hands to help Attorney General Bondi and FBI Director Patel carry out the President’s mission.’

The FBI, under Patel’s leadership, already has seen 19,000 arrests nationwide — that’s double the arrests made in all of 2024.

Of those, 1,600 individuals have been arrested for violent crimes against children — including 270 arrests for human traffickers, according to the FBI. One thousand have been arrested from investigations of foreign terrorist organizations, and three of the ‘Top 10 Most Wanted’ have been arrested in 2025.

Patel’s FBI has rescued 4,000 child victims — a 33% increase from 2025; seized 1,500 kilos of fentanyl; and seized 6,300 kilos of methamphetamines.

A senior official told Fox News Digital that the murder rate is currently on track to be the lowest ever recorded in history.

‘President Trump wants to see America quickly become the safest country in the world, and he has put together the best law and order focused team in the business to accomplish that goal,’ White House Press Secretary Karoline Leavitt told Fox News Digital.

The addition of Bailey comes amid the expanding nature of Trump’s law and order agenda. As for the federal takeover of Washington, D.C., Bondi is in charge, and the FBI is playing a large role.

Bondi, on Friday, announced there have been nearly 200 arrests ‘and counting’ in the nation’s capital, including those of murder suspects and illegal gun offenders, since the Trump administration federalized the city to tackle crime.

Among those arrested were two homicide suspects, 17 suspected drug traffickers, 39 suspected illegal gun offenders and two sexual predators, according to Bondi.

Fox News Digital’s Alexandra Koch contributed to this report.

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Politics

Comer, Crockett clash over Barr’s Epstein testimony as ex-Trump AG ends four-hour House grilling

Former Attorney General Bill Barr’s closed-door deposition before the House Oversight Committee wrapped after over four hours on Monday, and lawmakers on opposite sides of the aisle had very different interpretations of how it went.

Reps. Jasmine Crockett, D-Texas, and Suhas Subramanyam, D-Va., who represented committee Democrats during the staff-led sit-down, said they were left with ‘more questions now’ than before Barr’s deposition began.

House Oversight Committee Chairman James Comer, R-Ky., the lone Republican present, said Barr ‘shed a lot of light’ on the Epstein case and said he ‘answered all the questions’ presented to him.

Both sides only spoke with reporters partway through Barr’s testimony, which began at 10 a.m. Monday. Fox News Digital witnessed him leaving roughly 30 minutes before 3 p.m.

‘I think the Democratic side is doing most of the heavy lifting, and I don’t think we’re learning much from the questioning from the House Republicans,’ Subramanyam said.

‘It doesn’t seem like this is something where they are truly caring about the victims and about trying to get to the bottom of what’s happening.’

Crockett said, ‘It seems like they are going through the motions, and they want people to believe that they are digging in. But at the end of the day, I don’t think that we’ve learned anything through the Republican questioning that you couldn’t find in one of the articles that most likely your outlets have printed.’

Comer told reporters later by contrast, ‘Our goal with this investigation is to be transparent.’

He even lauded Democrats for taking the matter ‘seriously,’ adding, ‘This is a bipartisan investigation, and hopefully, we’ll be able to get the answers the American people want and deserve.’

When asked about the Democratic lawmakers’ attacks on Republicans’ line of questioning, however, Comer accused them of playing politics with the situation.

‘It’s unfortunate the Democrats are trying to, it seems to me, politicize this. When you look at the basis of this, horrific crimes against young girls, and, of course, the Democrats’ goal is to try to dig up some type of dirt on President Trump,’ Comer said.

He said Republican staff were ‘asking a lot of tough questions’ and accused Democrats of operating on a double standard.

‘I don’t ever remember the Democrats subpoenaing a former Democrat attorney general for anything,’ he said.

Comer accused Democrats of trying to create a ‘false narrative’ connecting Trump and Epstein, after Subramanyam floated the possibility of a ‘cover-up’ by Trump and his allies.

‘This is a serious investigation. This is a sincere investigation. I hope this will be a bipartisan investigation. I would encourage my Democrat colleagues not to politicize this,’ Comer said.

‘I think General Barr answered a lot of questions that probably burst their bubble with respect to, he had never communicated with President Trump on a potential Epstein list or anything else. And he had never seen anything that would implicate President Trump.’

Barr arrived on Capitol Hill nearly an hour before his scheduled deposition, only quipping that the ‘early bird gets the worm’ in response to a flurry of reporter questions.

He was similarly soft-spoken on his way out, even as Fox News Digital and others questioned what he told House investigators.

Barr only said ‘absolutely’ when asked if he had a good conversation Monday.

A source familiar with his deposition told Fox News Digital that Barr ‘made clear that President Trump never provided any views or instructions related to the criminal case against Jeffrey Epstein or his death, and that he never saw any evidence suggesting President Trump committed a crime.’

‘He further stated that he believed the Biden Department of Justice would have released any incriminating evidence against President Trump if such evidence existed,’ said the source, who described Barr as ‘cooperative.’

Barr is the first of several people who were subpoenaed to appear before the House Oversight Committee after Republicans and Democrats voted to direct Comer to open the probe last month.

Several other former attorneys general, ex-FBI directors, and even former First Couple Bill and Hillary Clinton were also subpoenaed.

Fox News Digital reached out to Barr’s lawyer for comment but did not immediately hear back.

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Politics

Trump: Europe will ‘take a lot of the burden’ in providing security guarantees for Ukraine

President Donald Trump predicted Monday that European allies would bear the brunt of responsibility providing Ukraine certain security guarantees to prevent Russian aggression, but that the U.S. would also help them.

Trump’s comments come as Ukrainian President Volodymyr Zelenskyy, along with other European leaders, visited Washington, D.C., to advance peace talks to end the war in Ukraine just days after Trump met with Russian President Vladimir Putin.

‘President Putin agreed that Russia would accept security guarantees for Ukraine. And this is one of the key points that we need to consider,’ Trump said Monday during a meeting with European leaders at the White House. ‘And, we’re going to be considering that at the table. Also, like who will do what? Essentially, I’m optimistic that collectively we can reach an agreement that would deter any future aggression against Ukraine.’

‘I think that the European nations are going to take a lot of the burden,’ Trump said. ‘We’re going to help them, and we’re going to make it very secure. We also need to discuss the possible exchanges of territory, taking into consideration the current line of contact. That means the war zone, the war line center. Pretty obvious. Very sad, actually, to look at them and negotiating positions.’

Trump said Sunday that Ukraine could end the war immediately if it agreed to cede Crimea to Russia, and abandon its bid for NATO membership. Meanwhile, U.S. special envoy Steve Witkoff also said Sunday that Putin has agreed to allow the U.S. and other European allies to provide additional protection for Ukraine, similar to protections included in NATO’s Article 5 mutual defense clause.

Likewise, Trump said earlier Monday that he hadn’t ruled out the possibility that U.S. troops could be dispatched to Ukraine following a peace negotiation to deter Russian aggression to support other European allies bolstering security for Ukraine. Although he refrained from sharing specific details, Trump said that the U.S. is ‘going to help them out also. We’ll be involved.’

For his part, Zelenskyy said U.S. backing on security guarantees is critical to delivering stability to Ukraine.

‘Security in Ukraine depends on the United States and on you and on those leaders who are with us in our hearts,’ Zelenskyy said Monday.

‘We spoke about it and we will speak more about security guarantees,’ Zelenskyy said. ‘This is very important that the United States gives such strong signal and is ready for security guarantees.’

Meanwhile, French President Emmanuel Macron said that Europe is aware that it will shoulder much of the weight of responsibility tied to various security guarantees — and acknowledged it is necessary in order to preserve each respective country’s safety.

‘In order to have such a long-standing peace for Ukraine and for the whole continent, we do need the security guarantees,’ Macron said. ‘And the first one is clearly a credible Ukrainian army. For the years and decades to come. And the second one is our own commitments. All of us… You can be sure that the Europeans are very lucid about the fact that they have their fair share in the security guarantees for Ukraine, but their own security is clearly at stake in this situation.’

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Politics

Trump moves to broker Putin-Zelenskyy meeting following DC peace talks

President Donald Trump said he spoke with Russian President Vladimir Putin Monday, after meeting with Ukrainian President Volodymyr Zelenskyy and European leaders at the White House, to begin coordinating next steps in the peace process aimed at ending the war in Ukraine.

The president posted on his Truth Social platform Monday evening saying that he had called Putin at the conclusion of a day of meetings to begin ‘the arrangements for a meeting’ between the Russian president and his Ukrainian counterpart. Trump’s call to Putin mirrored his decision to call Zelenskyy following Friday’s Alaska summit with Putin.

‘At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy,’ Trump confirmed, following media reports hinting at the call.

The president added that after the meeting between the two warring presidents, there would be a trilateral meeting with the United States as well.

‘After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself,’ the president continued. ‘Again, this was a very good, early step for a War that has been going on for almost four years.’

Yury Ushakov, a top aide to Russian President Vladimir Putin, said Trump and Putin were on the phone for about 40 minutes and held a ‘candid and very constructive’ dialogue, according to CNN.

Putin ‘expressed support for direct negotiations between the delegations of Russia and Ukraine,’ Ushakov reportedly added.

Officials familiar with Monday’s talks also reportedly said Trump’s call to Putin came in-between talks with the European leaders present at the White House. Meanwhile, one of those leaders, German Chancellor Friedrich Merz, reportedly said Putin agreed in the call with Trump to meet Zelenskyy in two weeks.

Earlier in the day, Trump was caught in a hot-mic moment telling French President Emmanuel Macron that Putin wants to find a resolution to bring the war in Ukraine to an end for him.

‘I think [Putin] wants to make a deal,’ Trump whispered to Macron in the East Room as they were preparing for Monday’s talks. ‘I think he wants to make a deal for me, you understand that? As crazy as it sounds.’

Following Monday’s talks, Zelenskyy thanked Trump and all the other leaders present in D.C. for their work in trying to bring peace to his country, noting that the talks were ‘long and detailed.’

‘Today, important negotiations took place in Washington. We discussed many issues with President Trump. It was a long and detailed conversation, including discussions about the situation on the battlefield and our steps to bring peace closer,’ Zelenskyy said in a post on X Monday night.

‘We appreciate the important signal from the United States regarding its readiness to support and be part of these guarantees. A lot of attention today was given to the return of our children, to the release of prisoners of war and civilians held by Russia. We agreed to work on this,’ Zelenskyy continued. ‘The U.S. President also supported a meeting at the level of leaders. Such a meeting is necessary to resolve sensitive issues.’

Fox News Digital reached out to the White House for comment on this but did not receive a response.

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