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(TheNewswire)

Vancouver, British Columbia, August 8th, 2025 TheNewswire Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news releases dated July 3, 2025, July 18, 2025 and July 31, 2025, the Company has proceeded with an upsized closing of its previously announced non-brokered private placement (the ‘Private Placement’ ) of units of the Company (‘ Units ‘) at an issue price of $0.06 per Unit (the ‘ Third Closing ‘). The closing was increased from 6,000,000 Units to the issuance of 6,425,000 Units for gross proceeds of $385,500.

Each Unit consists of one common share of the Company (a ‘ Share ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘ Warrant ‘). Each Warrant entitles the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

‘In the past few weeks, we have raised a total of $1,077,500 in gross proceeds reflecting investors’ interest in our recently optioned silver projects in Arizona, the historical high-grade Silver King and Ripsey mines,’ said Alain Lambert, CEO. ‘Exploration at Silver King is currently underway and our Chief Exploration Officer, Dr. Craig Gibson, has put in place a comprehensive first year exploration plan which includes a phase one drill program of a minimum of 1,000 meters.’

Dr. Craig Gibson, Prismo’s Chief Exploration Officer said: ‘The team has arrived on site, and we have begun a detailed mapping and sampling program at both projects at surface exposures and in accessible underground workings. A drill program is planned for Silver King, with about 1,000 metres initially. The Silver King drill program is designed to test the mineralized body at four elevations, as well as lateral to the pipelike body. Dewatering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.’

The Company previously announced a first closing of the Private Placement on July 18, 2025 for aggregate gross proceeds of $575,000 and a second closing of the Private Placement on July 31, 2025 for aggregate gross proceeds of $ 117,000 . Due to strong investor demand, the Company has now raised aggregate gross proceeds of $1,077,500. The Company intends to use the aggregate proceeds from the Private Placement for exploration at the Company’s Silver King project as well as for working capital and general corporate purposes. There may be circumstances, however, where for sound business reasons, a reallocation of funds may be necessary.

Prismo also announces that further to its news release dated July 31, 2025, it has settled the debt settlement agreement (the ‘ Agreement ‘) with a creditor of the Company (the ‘ Creditor ‘) pursuant to which the Company issued to the Creditor, and the Creditor accepted, an aggregate of 1,375,000 common shares of the Company (each, a ‘ Settlement Share ‘) at a price of $0.06 per Settlement Share in full and final settlement of accrued and previously outstanding indebtedness owing to the Creditor in the aggregate amount of US $60,000 (CA $82,500) (the ‘ Debt Settlement ‘). The Creditor is one of the original optionors of the Palos Verdes silver project in Mexico, and the Debt Settlement was the final payment owed to the Creditor.

‘The Palos Verdes project remains an important asset for Prismo Metals,’ said Alain Lambert, CEO. ‘We continue to monitor Vizsla Silver’s exploration activities in the Panuco district and how it might impact our exploration plan at Palos Verdes. Mr. Lambert noted: ‘In their July 29 th , 2025 news release , Vizsla Silver stated: Notable targets to be tested in the central, and east area of the district with potential to host similar mineral resources to that outlined in Project #1 in the west include: Jesusita-Palos Verdes is a northeast trending vein target in the east area of the district. Positive drill results and alteration-based interpretations done by Prismo Metals, combined with significant silver anomalies on surface and extensive vein outcrops warrant additional drilling at depth. ‘

The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. The project is surrounded on three sides by Vizsla Silver Corp. (TSE: VZLA).

Shallow drilling (

In connection with the Third Closing, the Company issued an aggregate of 288,900 finder’s warrants (the ‘Finder’s Warrants’ ) and paid finder’s commissions of $17,334.00 to a qualified finder. Each Finder’s Warrant is exercisable for a period of 24 months from the date of issuance to purchase one Share at a price of $0.10.

All securities issued or issuable in connection with the Private Placement and the Debt Settlement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Multilateral Instrument 61-101

The Company has issued an aggregate of 10,000 Units pursuant to the Third Closing to a ‘related party’ of the Company (the ‘ Interested Party ‘), constituting, to that extent, a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘ MI 61-101 ‘). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Party in the Third Closing in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Third Closing nor the securities issued in connection therewith, in so far as the Third Closing involves the Interested Party, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Third Closing as the details of the Third Closing and the participation therein by the Interested Party therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper project in Arizona (Hot Breccia).

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 alambert@cpvcgroup.ca

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 ‘forward‐looking 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 intended use of any proceeds raised under the Private Placement.

These forward‐looking 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: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and other risk factors as detailed from time to time and additional risks identified in the Company’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca ).

Although management of the Company has attem pted 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

News Provided by TheNewsWire via QuoteMedia

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Investing

OPINION — Goldenomics 102: The Shadow Price of Gold

By Darren Brady Nelson

One of the underrated, and easily dismissed, stories from the first 100 days of the second Donald J. Trump presidency was in March 2025, when the president said: “We’re actually going to Fort Knox to see if the gold is there, because maybe somebody stole the gold. Tonnes of gold.”

Two developments have happened since. First was his May 2025 executive order “Restoring Gold Standard Science.” Second was his signing the July 2025 GENIUS Act. The former could be a word teaser for “Restoring The Gold Standard.” The latter seems to be a step in that direction.

Source: The White House.

Fort Knox gold

The US Department of the Treasury’s Weekly Release of US Foreign Exchange Reserves shows the levels of various official assets, including gold. It reported gold of 261.499 million fine troy ounces. An estimated 56 percent of that is in Fort Knox, with the remainder in West Point, Denver and New York.

The Federal Reserve Act 1913 still gives the power to the US Federal Reserve: “To deal in gold coin and bullion at home or abroad, to make loans thereon, exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion (and much more).”

The question of how much gold is in Fort Knox and elsewhere is not only important for the purposes of DOGE, but even more so in the case of a potential return to a gold standard. And such an incredible return is not mere speculation, but is due to some credible public comments.

Source: Visual Capitalist.

Trump gold standard

Private citizen Trump commented, as a presidential candidate, about a possible return to a gold standard in June 2016, when he said: “Bringing back the gold standard would be very hard to do, but, boy, would it be wonderful. We’d have a standard on which to base our money.”

More recently, Steve Bannon stated in December 2023: “Nixon took us off the gold standard … over a weekend … in an emergency executive order. That is going to be reviewed strongly in the second Trump term … getting rid of the Fed, yeah, maybe you start with converting back into gold.”

Economist Judy Shelton has an October 2024 book as a guide: “When the US dollar is backed by gold, America prospers, and so does the rest of the world. But this is no curmudgeonly demand to return to the gold standard of yore; (but) gold for a new international monetary order.”

Some sort of gold standard might dovetail with a new global trading system, as outlined in the “Mar-a-Largo Accord” of November 2024, as well as with the GENIUS Act of July 2025, which: “establishes a regulatory framework for payment stablecoins (must redeem for a fixed value).”

Shadow gold price I

Shadow pricing is a method long used in cost benefit analysis that adjusts prices from, or creates prices for, failed or non-existent markets. The shadow price of gold (SPoG) in August 2018 was defined as: “The linkage between the US monetary base and the implied price of gold.”

The In Gold We Trust (IGWT) annual report from May 2025 uses a similar definition: “The theoretical gold price in the event of full gold backing of the base money supply.” The report adds: “The reciprocal value of the (SPoG) gives the degree of coverage of the monetary base.”

The reciprocal SPoG, based on current market prices, is the “Gold Coverage Ratio” (GCR). The report explains further that: “Currently, the (GCR) in the US is only 14.5%. To put it crudely: Only 14.5 cents of every US dollar currently consists of gold, the remaining 85.5% is air.”

Gold backing of monetary base, in percent, 01/1920 to 03/2025.

Source: Incrementum.

Shadow gold price II

According to IGWT: “In the gold bull market of the 2000s, (GCR) tripled from 10.8% to 29.7%. A comparable (GCR) today would only arise if the gold price were to almost double to over $6,000. The record value of 131% from 1980 would correspond to a gold price of around $30,000.”

IGWT goes beyond just $USD: “The international shadow gold price (ISPoG) shows how high the gold price would have to rise if the money supply (M0 or M2) of the leading currency areas were covered by the central banks’ gold reserves in proportion to their share of global GDP.”

“This view impressively reveals the extent of the monetary expansion: With an — admittedly purely theoretical — 100% coverage of the broad money supply M2, the gold price (per ounce) would be over $231,000; even with a moderate 25% coverage, it would be around $58,000.”

International shadow gold price at different gold coverage levels (log), in USD, 12/2024.

Source: Incrementum.

Shadow gold price III

In May 2024, James Rickards predicted: “My latest forecast is that gold may actually exceed $27,000. I don’t say that to get attention or to shock people. It’s not a guess; it’s the result of rigorous analysis.”

This was based on a similar approach to SPoG and GCR that he called “the implied non-deflationary price of gold under a new gold standard (iPoG).” Rickards calculated a gold price, based on iPoG, of $27,533 per ounce.”

He divided US$7.2 trillion of M1 money supply by 261.5 million of gold troy ounces (or 8,133 metric tonnes) in official US reserves estimated by the World Gold Council. The M1 figure is 40 percent of US$17.9 trillion as: “this percentage was the legal requirement for the US Federal Reserve from 1913 to 1946.”

In summary, the sort of gold prices that might be reached under a return to a gold standard, using the shadow price of gold approach, range from lows of US$6,000 to highs of US$231,000, with US$27,533, US$30,000 and US$58,000 in between.

Whatever the gold price ends up at, it would be a once-in-a-lifetime windfall for those holding gold at that time. After that, gold would cease to be an investment, as it has been since 1971 and 1974. Because gold would be actual money once again, and it would be sound money at that.

About Darren Brady Nelson

Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.

Click here to read Goldenomics 101: Follow the Money.

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Investing

Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 Percent

Statistics Canada released July’s labor force survey on Friday (August 8). The data shows that the Canadian economy shed 41,000 workers during the month and registered a 0.2 percent decline in the employment rate to 60.7 percent.

However, the unemployment rate was unchanged at 6.9 percent.

The most significant segment for the decline was among youth aged 15 to 24, with a drop of 34,000. That pushed the youth unemployment rate up to 14.6 percent, its highest rate since September 2010 apart from the pandemic.

In terms of industry, construction saw the steepest decline as it lost 22,000 workers during the month.

South of the border, the US imposed a 39 percent tariff on imports of 1 kilogram and 100 ounce gold bars from Switzerland.

In a ruling posted to US Customs and Border Protection’s (CBP) Customs Rulings Online Search System on Friday, the CBP states that reciprocal tariffs will be applied to these bars. Switzerland is the world’s biggest refining and transit hub, and imports of the 1 kilogram and 100 ounce bars are typically used to back transactions on the COMEX.

The ruling caused some uncertainty among gold traders, who paused imports of the precious metal to the US and pushed the price for December contracts on the COMEX to a high of US$3,534 per ounce in morning trading.

While the price has since retreated, it’s still up more than 1 percent on the day at US$3,491.

The gold spot price is also up significantly this week, gaining 3.26 percent by 4:00 p.m. EDT on Friday to US$3,398.42. Silver was up even more; it rose 4.58 percent to US$38.38 and is closing in on its recent highs.

Markets and commodities react

In Canada, equity markets were in positive territory this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) posted steady gains through the week, moving up 2.16 percent to close at 27,758.68 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) registered a 2.71 percent rise to 787.22. Meanwhile, the CSE Composite Index (CSE:CSECOMP) soared, gaining 8.99 percent to 142.78.

US equity markets were broadly down on Friday on new US tariffs and poor jobs data. The S&P 500 (INDEXSP:INX) rose 1.62 percent to 6,389.44, the Nasdaq 100 (INDEXNASDAQ:NDX) jumped 2.86 percent to 23,603.05 and the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 0.90 percent to 44,175.60.

In base metals, copper prices fell as low as US$4.41 per pound on Tuesday (August 5), but recovered to finish the week with a 0.67 percent gain to US$4.52.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Kirkland Lake Discoveries (TSXV:KLDC)

Weekly gain: 88.24 percent
Market cap: C$15.2 million
Share price: C$0.16

Kirkland Lake Discoveries is a gold-copper explorer focused on projects in its district-scale land package located in the Kirkland Lake area of Ontario, Canada. Its holdings span approximately 38,000 hectares in the Abitibi greenstone belt, an area that holds past-producing gold and copper mines. Its land is broadly divided into KL West and KL East, which contain the Goodfish-Kirana and Lucky Strike gold projects, respectively, among others.

On April 29, the company entered a mining option agreement with Val-d’Or Mining (TSXV:VZZ) to acquire the Winnie Lake and Amikougami properties, as well as mining claim purchase agreements with two vendors to acquire further claims around the Winnie Lake Pluton. The properties expand KL West’s southern portion.

On Wednesday (August 6), the company initiated an inaugural diamond drill program at KL West and Winnie Lake. The program is designed to follow up on historic drill results as well as recent surface exploration.

About 2,000 meters of drilling are planned, and the company expects it to be completed by the end of August. Kirkland stated that assays will be released as they are received and interpreted.

2. Avanti Helium (TSXV:AVN)

Weekly gain: 78.95 percent
Market cap: C$15.2 million
Share price: C$0.17

Avanti Helium is an explorer and developer focused on advancing helium assets in Canada and the US toward production. Its Greater Knappen projects are composed of several areas in Southern Alberta, Canada, and Northern Montana, US. The combined land packages cover approximately 74,000 acres with multiple targets.

According to its project page, Avanti has drilled three exploration wells in Montana, with two testing for a combined 18.5 million cubic feet per day gas rate with 1.1 percent helium concentration.

The company’s Leader project consists of a combined land package of 91,000 acres in Southern Saskatchewan. The surrounding region has seen 84 wells drilled by other companies since 2016, and as of September 2023, it hosted approximately 25 wells producing 450,000 cubic feet of helium per day.

Avanti gained this week after it announced on Thursday (August 7) that it has signed a multi-year offtake agreement with a global industrial gas supplier. The buyer has committed to a minimum monthly volume from Avanti’s Sweetgrass helium recovery unit in Montana, for 33 percent of the initial plant output and 25 percent following a planned expansion.

3. Discovery Energy Metals (CSE:DEMC)

Weekly gain: 68.57 percent
Market cap: C$17.08 million
Share price: C$0.295

Discovery Energy Metals is a lithium explorer working to advance interests in Québec and BC, Canada. Most of the company’s land holdings are in Québec, where it has interests in over 225,000 hectares.

On March 20, the company released assays from a fall 2024 exploration program focused on its Eeyou Istchee James Bay properties. It reported values including 82 parts per million tantalum pentoxide and 101 parts per million cesium oxide at Cirrus East, and 0.66 g/t gold and 0.56 percent zinc at its Mantle property.

Discovery announced on June 25 that it had completed the acquisition of eight mineral claims over 5,283 hectares at the Crystal Lake property in BC. The company acquired the property in a deal with Zimtu Capital (TSXV:ZC).

Early stage exploration work at the property was carried out between 2009 and 2010, and included a magnetic survey and grab samples, which returned up to 0.7 percent copper with elevated gold and silver.

The most recent news from Discovery came on July 15, when it announced a non-brokered private placement for up to 10 million units for gross proceeds of up to C$1 million.

4. Abcourt Mines (TSXV:ABI)

Weekly gain: 66.67 percent
Market cap: C$45.53 million
Share price: C$0.075

Abcourt Mines is a gold exploration and development company focused on operations at its Sleeping Giant mine in the Abitibi region of Québec. The property consists of four mining leases covering an area of 458 hectares and 69 claims. The site hosts an underground mine along with a mill capable of processing 750 metric tons per day.

A July 2023 preliminary economic assessment demonstrates an after-tax net present value of US$77.5 million with an internal rate of return of 33.3 percent over a payback period of 2.2 years.

The company has been working on restarting mining operations at the site throughout 2025.

On Thursday, it provided an update on progress from Sleeping Giant, stating that teams had begun the rehabilitation of underground openings, as well as preparations at the mill for the first stope at the end of July. It also said it had built a surface stockpile of approximately 1,000 metric tons of ore and started work on a tailings facility. Once complete, pulp storage will be good until 2032 at the proposed mining rate of 100,000 to 125,000 metric tons per year.

5. Scorpio Gold (TSXV:SGN)

Weekly gain: 64.71 percent
Market cap: C$60.93 million
Share price: C$0.28

Scorpio Gold is an exploration and development company focused on the advancement of its Manhattan District in the Walker Lane Trend in Nevada, US. The district is composed of the 6,071 acre Manhattan project, which hosts two past-producing open-pit mines, Reliance and Manhattan, as well as the fully permitted Goldwedge underground mine.

Scorpio acquired the project from Kinross Gold (TSX:K,NYSE:KGC) in 2021.

The most recent update from the project came on June 19, when Scorpio announced it was commencing a Phase 1 diamond drill program. The focus is on targets at the Gap zone, the Zanzibar trend and Mustang Hill. Up to 3,400 meters have been planned, with results contributing to an initial mineral resource estimate, which is expected in Q3.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Economy

Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

Apple has been sued by a Texas company that accused the iPhone maker of stealing its technology to create its lucrative mobile wallet Apple Pay.

In a complaint made public on Thursday, Fintiv said Apple Pay’s key features were based on technology developed by CorFire, which Fintiv bought in 2014, and now used in hundreds of millions of iPhones, iPads, Apple Watches and MacBooks.

Apple did not immediately respond to requests for comment.

Fintiv, based in Austin, Texas, said Apple held multiple meetings in 2011 and 2012 and entered nondisclosure agreements with CorFire aimed at licensing its mobile wallet technology, to capitalize on fast-growing demand for contactless payments.

Instead, and with the help of CorFire employees it lured away, Apple used the technology and trade secrets to launch Apple Pay in the United States and dozens of other countries, beginning in 2014, the complaint said.

Fintiv also said Apple has led an informal racketeering enterprise by using Apple Pay to generate fees for credit card issuers such as Bank of America, Capital One, Citigroup, JPMorgan Chase and Wells Fargo, and the payment networks American Express, Mastercard and Visa.

“This is a case of corporate theft and racketeering of monumental proportions,” enabling Cupertino, California-based Apple to generate billions of dollars of revenue without paying Fintiv “a single penny,” the complaint said.

In a statement, Fintiv’s lawyer Marc Kasowitz called Apple’s conduct “one of the most egregious examples of corporate malfeasance” he has seen in 45 years of law practice.

The lawsuit in Atlanta federal court seeks compensatory and punitive damages for violations of federal and Georgia trade secrets and anti-racketeering laws, including RICO.

Apple is the only defendant. CorFire was based in Alpharetta, Georgia, an Atlanta suburb.

On August 4, a federal judge in Austin dismissed Fintiv’s related patent infringement lawsuit against Apple, four days after rejecting some of Fintiv’s claims, court records show.

Fintiv agreed to the dismissal, and plans to “appeal on the existing record,” the records show.

This post appeared first on NBC NEWS

Economy

Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

Bed Bath & Beyond is back — kind of.

The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come.

This time around, the store has a new name — Bed Bath & Beyond Home — and marks a “fresh start” for the beloved brand, said Amy Sullivan, the CEO of The Brand House Collective, the store’s operator.

“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Sullivan said in a news release. “With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. It’s a powerful addition to our portfolio and a meaningful step forward in our transformation.”

In honor of the brand’s legacy, the new store will accept the brand’s famous 20% coupon, regardless of when it expired.

“We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor,” the company said in a news release. “The coupon we all know and love is back and for those who need one, a fresh version will be waiting at the door.”

Bed Bath and Beyond 2.0 has been several years in the making and involved a rigmarole of corporate acquisitions and rebrandings. When the original Bed Bath and Beyond filed for bankruptcy in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond.

What followed from there was a dizzying array of corporate deal-making. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores.

Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops. Friday’s launch in Nashville is the first of six planned for the market and, pending the results, it plans to convert around 75 additional stores through 2026.

The company said it chose Nashville for the launch because of its proximity to its corporate headquarters, which will allow it to “closely manage every detail and set the standard for future rollouts.”

While the relaunch is exciting for fans of the legacy brand, it comes at a difficult time for the home decor market. In many ways, Bed Bath & Beyond’s bankruptcy was the fault of its management team and execution missteps, but it also faced macro challenges as well, experts said at the time. Competition from players like Amazon, Walmart, Home Goods and Wayfair has made it harder for other brands to capture customer spend, and the overall sector has been soft for several years because of high interest rates and the sluggish housing market.

Even the current leaders in the home decor space have seen soft trends and it’s unlikely that will change until interest rates fall and the housing market picks back up, some analysts have said.

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Politics

Republican senator claims RFK Jr. mRNA vaccine decision undermines Trump agenda

Sen. Bill Cassidy, R-La., has condemned the Department of Health and Human Services’ move to shift funding away from mRNA vaccine development, claiming it undermines President Donald Trump’s agenda to make the nation healthy again.

‘We reviewed the science, listened to the experts, and acted,’ Department of Health and Human Services Sec. Robert F. Kennedy Jr. said, according to an HHS press release.

‘BARDA is terminating 22 mRNA vaccine development investments because the data show these vaccines fail to protect effectively against upper respiratory infections like COVID and flu. We’re shifting that funding toward safer, broader vaccine platforms that remain effective even as viruses mutate.’

Cassidy registered his objection to the move.

‘It is unfortunate that the Secretary just canceled a half a billion worth of work, wasting the money which is already invested. He has also conceded to China an important technology needed to combat cancer and infectious disease. President Trump wants to Make America Healthy Again and Make America Great Again. This works against both of President Trump’s goals,’ the lawmaker said in a post on X.

The HHS stated, ‘While some final-stage contracts (e.g., Arcturus and Amplitude) will be allowed to run their course to preserve prior taxpayer investment, no new mRNA-based projects will be initiated. HHS has also instructed its partner, Global Health Investment Corporation (GHIC), which manages BARDA Ventures, to cease all mRNA-based equity investments. In total, this affects 22 projects worth nearly $500 million. Other uses of mRNA technology within the department are not impacted by this announcement.’

Fox News Digital reached out to Cassidy’s office to request comment from the senator on Thursday, but did not receive a response by the time of publication.

Cassidy, who has served in the upper chamber since 2015, is aiming to get re-elected in 2026, though the incumbent faces competition from other Republicans who have also launched bids for the Senate seat.

In February 2021, Cassidy voted to convict Trump after the House impeachment in the wake of the January 6 episode at the U.S. Capitol. That Senate vote, which occurred after Trump had already left office, ultimately fell short of the threshold necessary to convict.

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Politics

Who is Anita Dunn? The Biden confidante who clashed with Hunter grilled in House autopen probe

Anita Dunn is the 10th former Biden administration aide appearing before the House Oversight Committee as the panel investigates whether former President Joe Biden’s inner circle covered up evidence of mental decline, and whether decisions were signed off on via autopen without his full awareness.

Dunn is a longtime Democratic operative who has run communications for top left-wing figures and causes for decades.

She first likely engaged with Biden when serving as communications director for Senate Democrats’ campaign arm, the Democratic Senatorial Campaign Committee, in the late 1980s.

Dunn was a central figure in shaping communications policy during Biden’s White House term as well, and she played a key role in helping him prepare for re-election in 2024.

Her husband, lawyer Robert Bauer, is also known as a figure close in Biden’s orbit – having reportedly served as his personal lawyer.

‘If it’s a room of five people, Anita and Bob are two of them,’ an unnamed former White House aide told NBC News in January 2023.

But her relationship with others in Biden’s circle has reportedly been rocky at times, particularly toward the end of his four-year term.

NBC News reported in July 2024 that Biden family members discussed whether the president should fire Dunn and Bauer amid fallout from his disastrous debate against now-President Donald Trump, though White House chief of staff Jeff Zients dismissed the reports as ‘unfounded and insulting rumors’ in a statement to the outlet at the time.

Her relationship with Hunter Biden in particular, the former president’s only living son, has been in the spotlight on multiple occasions.

Dunn criticized the president’s handling of his son Hunter’s pardon during an event in Dec. 2024, saying that she disagreed with the ‘timing’ and the ‘rationale,’ describing it as an ‘attack on our judicial system.’

‘Had this pardon been done at the end of the term in the context of compassion, the way many pardons will be done, I’m sure, and many commutations will be done, I think it would have been a different story,’ Dunn told a New York Times panel at the DealBook Summit 2024.

‘So, I will say, I absolutely agree with the president’s decision here. I do not agree with the way it was done, I don’t agree with the timing, and I don’t agree, frankly, with the attack on our judicial system.’

Hunter, meanwhile, recently name-checked Dunn during a tirade against Democratic operatives during a recent interview on YouTube show Channel 5.

He said Dunn ‘made $40 or $50 million’ off of work on behalf of the Democratic Party, while going further in criticism of others like David Axelrod and James Carville.

Notably, however, Dunn was among those who continued to defend Biden after his debate – while criticizing fellow Democrats’ reaction to it.

‘It was a bad debate, but it didn’t feel catastrophic at all, certainly in terms of voters,’ Dunn told Politico Magazine in Aug. 2024, noting she was watching the debate at home while monitoring voters’ reactions in real time.

‘What did change it was 24 days of unremitting negative, horrible attacks on Joe Biden. . . . From his own party and from the press,’ Dunn said.

She went further in that interview, calling the public criticism of Biden ‘bullying’ while arguing that it was led by the media rather than voters themselves.

‘[T]he data still didn’t support this at all. We were looking at it and we were not seeing huge changes. But we were seeing an environment in the press that was just unremittingly negative. And nobody was covering Trump whatsoever,’ Dunn said.

‘I went to Wisconsin with [Biden] for an event, and people felt very strongly about the bullying. They didn’t like it, and voters didn’t like it. They felt that it was unfair and that it was wrong. So you had a lot of different things going on here. You know, clearly there were leaders of the party who decided to go ahead and go very public. And that gave permission to other people to go public.’

Before joining Biden’s 2020 campaign and later his White House as a senior advisor, Dunn was known as a close ally of former President Barack Obama, having aided both his 2008 and 2012 campaigns.

Both she and her husband worked in the Obama administration. Dunn served as White House communications director in 2009 and Bauer as White House counsel from 2010 to 2011.

Dunn spent time before and after that as a consultant at public affairs firm SKDK, raising questions at the time about her influence with both outside actors and those in Obama’s inner circle.

The New York Times reported in 2012 that Dunn had visited more than 100 times since leaving her communications job there.

That report also had White House officials denying any conflicts of interest on the part of Dunn or the administration.

After leaving Biden’s White House, Dunn moved on to play a key role in former Vice President Kamala Harris’ short-lived 2024 campaign.

She’s since returned to SKDK as a principal.

Fox News Digital’s Andrew Mark Miller contributed to this report.

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Politics

$93 million in aid to fight malnutrition headed to 12 African countries, Haiti, State Dept says

The Trump administration will deliver $93 million in new food aid to 12 African countries and Haiti to fight malnutrition, the State Department has announced.

State Department spokesperson Tommy Pigott said in a Thursday press briefing that the Trump administration will treat nearly one million children suffering from malnutrition through $93 million in ready-use therapeutic food (RUTF).

The food aid will be distributed in Haiti, Mali, Niger, Ethiopia, Sudan, South Sudan, Nigeria, Madagascar, the Central African Republic, the Democratic Republic of Congo, Djibouti, Kenya and Chad.

Following the announcement, Pigott was asked to square the discrepancy between the Trump administration’s revocation of visas belonging to Haitians in the U.S. and plans to potentially deport them, with the administration’s efforts to try to promote stability in the region through food assistance.

‘Look, we’ve seen actions from this administration in order to try to encourage stability in Haiti. We’ve seen actions, announcements taken to try to go after those that are leading to instability in Haiti,’ Pigott responded.

‘For specifics on TPS, I assume that you’re talking about whether they are afraid of [Department of Homeland Security] in terms of those specific decisions. But we have seen actions here from the State Department to try to encourage stability in Haiti.’

The announcement about new foreign nutrition aid comes after the Trump administration gutted billions from the government’s spending on foreign aid. As part of the reforms, the U.S. Agency for International Development (USAID), the primary government agency tasked with disbursing foreign aid, was folded into the State Department.

The $93 million in new food assistance will be utilized by the United Nations Children’s Fund (UNICEF) and will run until June, according to Semafor, which spoke to a State Department official familiar with the new food aid disbursement.

In addition to providing ready-to-eat food, the new assistance, which will all be American-made, according to the State Department, will also be used to help produce or grow more ready-to-eat food, Semafor reported.

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Politics

Steve Bannon has two-word answer to dismiss 2028 presidential candidacy rumor

After a report by the Daily Mail cited ‘well-placed’ sources close to Steve Bannon who claim he is gearing up for a 2028 presidential run, the former chief strategist to Donald Trump gave a two-word response.

‘Trump 2028,’ Bannon said in response to a report he’s seeking political advice for a potential run. The report also claimed Bannon had privately disparaged Vice President JD Vance, considered the top contender to run for the presidency on the GOP’s ticket in 2028.

A source in Bannon’s inner circle told the Daily Mail Bannon has repeatedly said he does not think Vance is tough enough to run in 2028.

However, this week, President Trump said JD Vance would most likely be his successor. He added that Vance and Secretary of State Marco Rubio would make a formidable ticket, noting it was ‘too early’ to discuss the matter.

‘I thinkJD Vance would be a great nominee if he decides he wants to do that,’ Rubio said during an interview with Lara Trump.

Bannon’s two-word response was published by the conservative news outlet The National Pulse, which blasted the Daily Mail for the ‘thinly sourced story’ and argued the article was an effort to drive division within the Republican Party.

Bannon told Politico in March that ‘all I do is back President Trump and try to move the populist agenda and the America First agenda. I don’t think like a politician.’ Bannon also described the notion of him running for president as ‘absurd.’

In April, Bannon told News Nation that there are ‘many different alternatives’ that could permit Trump to sidestep constitutional term limits, noting in another interview the same month that ‘we have a team’ looking at those alternatives.

Three days after Trump’s 2025 inauguration, Rep. Andy Ogles, R-Tenn., introduced a constitutional amendment that would allow the president to serve a third and final term.

According to Congress.gov, that proposal was referred to the House Judiciary Committee but has received no further consideration thus far.

The official Trump Store continues selling ‘TRUMP 2028’ merchandise, such as a hat for $50, which has further fueled speculation about a potential Trump run for a third term.

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Politics

Biden camp skipped Super Bowl interview amid Robert Hur report concerns: source

Former President Joe Biden’s campaign team allegedly opted against a Super Bowl interview last year because of special counsel Robert Hur’s report, Fox News Digital has learned.

A source familiar with Anita Dunn’s interview with the House Oversight Committee told Fox News Digital the report, in which Hur described Biden as ‘well-meaning, elderly man with a poor memory,’ factored into Biden breaking with the decades-old tradition.

But a source close to Dunn told Fox News Digital she said Biden’s team decided against doing a Super Bowl interview last year because it thought the main coverage would be about what he did with classified records and not about the president’s policy decisions. The source claimed the choice was made before Hur’s report was released.

Dunn sat with House investigators for just over five hours Thursday as Oversight Committee Chairman James Comer, R-Ky., probes allegations that Biden’s inner circle worked to conceal evidence of mental decline in the former president.

The source familiar with her interview said Dunn also told committee staff that Biden’s inner circle came to a consensus he should not take a cognitive test, concluding it would offer no political benefit.

It comes two days after Fox News Digital was told that ex-deputy White House chief of staff Bruce Reed, who met with House investigators Tuesday, said Biden’s White House physician Kevin O’Connor called cognitive tests ‘meaningless.’

The source close to Dunn said Thursday that Biden’s team believed he would be able to pass a cognitive test, even if they saw no political benefit in one.

Dunn also told investigators she was not aware of Biden’s stutter, which he’s said he dealt with all his life, until media coverage of it in 2020, the first source said.

‘She went on to blame the media for pushing the narrative that President Biden was old,’ the source said.

The practice of pre-Super Bowl interviews began with former President George W. Bush opting to sit for an interview before the big game in 2004 and has followed by both former President Barack Obama and President Donald Trump, though Trump also skipped out on a Super Bowl interview in 2019.

Biden sat for Super Bowl interviews in 2021 and 2022, but did not in 2023 and 2024.

In 2023, talks about a pre-Super Bowl interview fell through with Fox Corp.

Hur’s report was released publicly Feb. 8, 2024. The Super Bowl was played Feb. 11 that year.

Hur was appointed special counsel by former Attorney General Merrick Garland in 2023 to investigate whether Biden mishandled classified documents.

Hur ‘uncovered evidence that President Biden willfully retained and disclosed classified materials after his vice-presidency when he was a private citizen’ but said it did not ‘establish guilt beyond a reasonable doubt.’

Given that Biden ‘would likely present himself to a jury, as he did during our interview of him, as a sympathetic, well-meaning, elderly man with a poor memory,’ Hur said, ‘it would be difficult to convince a jury that they should convict him — by then a former president well into his eighties — of a serious felony that requires a mental state of willfulness.’

Dunn is the tenth ex-Biden administration official to appear before the House Oversight Committee.

In addition to investigating the alleged cover-up, Committee Chairman James Comer, R-Ky., is looking into whether decisions were approved via autopen without the former president’s knowledge.

Of particular interest to Comer is the myriad of clemency orders Biden signed in the latter half of his presidency, though the former president told The New York Times last month he was behind every decision.

Dunn, like most who appeared before her, defended Biden’s mental acuity to committee investigators.

‘The president made it clear that decisions rested with him, and White House staff brought issues to him for him to decide,’ Dunn said in her opening statement, obtained by Fox News Digital. ‘I believed strongly then, and I believe just as strongly today, that Joe Biden was an effective president who accomplished many important things for the American people.’

A spokesperson for the House Oversight Committee criticized Dunn after the statement came out in the media, however.

‘It’s no surprise Anita Dunn is telling the American people not to believe their own eyes, claiming Joe Biden was sharp and ‘fully engaged.’ This opening statement, leaked to media before Ms. Dunn even delivered it, is yet another example of the absurd lengths Biden loyalists will go to defend his failed presidency,’ the spokesperson told Fox News Digital.

Fox News Digital also reached out to a representative for Biden and to Dunn’s counsel for comment.

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