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Saks Global files for bankruptcy after takeover leads to financial collapse

Saks Global files for bankruptcy after takeover leads to financial collapse

Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion The high-end department store conglomerate Saks Global filed for bankruptcy protection on Tuesday in one of the largest retail collapses since the pandemic, barely a year after a deal that brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof. The move cast uncertainty over the future of US luxury fashion, though the retailer said early on Wednesday its stores would remain open for now after it finalised a $1.75bn financing package and appointed a new CEO. Continue reading...

'I'm not afraid of failure... and will be myself!' - Alvaro Arbeloa takes charge as Real Madrid first-team coach ahead of Copa del Rey clash

'I'm not afraid of failure... and will be myself!' - Alvaro Arbeloa takes charge as Real Madrid first-team coach ahead of Copa del Rey clash

"Alvaro Arbeloa addressed the media for the first time as Real Madrid coach on Tuesday, speaking in Madrid ahead of the Copa del Rey round of 16 clash against Albacete, a day after Xabi Alonso's departure. Footage shows the Real Madrid squad training in Ciudad Real Madrid, with Arbeloa leading the team and the new manager participating in the press conference. "Yesterday afternoon, I was informed that both Xabi and the club had mutually agreed to part ways and that they wanted me to take on the responsibility and position of first-team coach," he confirmed Arbeloa added that he already spoke to Xabi Alonso, noting, "You all know the relationship I have with him, the friendship that binds us together." He acknowledged the weight of the role, stating, "I am aware of the responsibility I have for the wonderful company and the task ahead of me, and as you say, I am very, very excited about it." "I am going to be Alvaro Arbeloa, because it is true that I am not afraid of failure," the coach proclaimed, adding that trying to emulate others would lead to defeat. He also praised forward Vinicius Junior, calling him "one of the most unbalancing players in the world," and said the focus is on seeing Vinicius who "smiles, enjoys himself [...] and makes a difference." In 2020, Arbeloa joined Real Madrid as a coach for the under-14 side. In May 2025, he replaced Raul Gonzalez at the helm of Real Madrid Castilla. Arbeloa took charge at the start of the 2025-26 season and stepped down after Sunday's Super Cup final defeat to Barcelona in Jeddah. Real Madrid are currently second in La Liga, with two defeats in 19 matches, and seventh in the Champions League, with four wins and two losses."

'I'm not afraid of failure... and will be myself!' - Alvaro Arbeloa takes charge as Real Madrid first-team coach ahead of Copa del Rey clash

'I'm not afraid of failure... and will be myself!' - Alvaro Arbeloa takes charge as Real Madrid first-team coach ahead of Copa del Rey clash

"Alvaro Arbeloa addressed the media for the first time as Real Madrid coach on Tuesday, speaking in Madrid ahead of the Copa del Rey round of 16 clash against Albacete, a day after Xabi Alonso's departure. Footage shows the Real Madrid squad training in Ciudad Real Madrid, with Arbeloa leading the team and the new manager participating in the press conference. "Yesterday afternoon, I was informed that both Xabi and the club had mutually agreed to part ways and that they wanted me to take on the responsibility and position of first-team coach," he confirmed Arbeloa added that he already spoke to Xabi Alonso, noting, "You all know the relationship I have with him, the friendship that binds us together." He acknowledged the weight of the role, stating, "I am aware of the responsibility I have for the wonderful company and the task ahead of me, and as you say, I am very, very excited about it." "I am going to be Alvaro Arbeloa, because it is true that I am not afraid of failure," the coach proclaimed, adding that trying to emulate others would lead to defeat. He also praised forward Vinicius Junior, calling him "one of the most unbalancing players in the world," and said the focus is on seeing Vinicius who "smiles, enjoys himself [...] and makes a difference." In 2020, Arbeloa joined Real Madrid as a coach for the under-14 side. In May 2025, he replaced Raul Gonzalez at the helm of Real Madrid Castilla. Arbeloa took charge at the start of the 2025-26 season and stepped down after Sunday's Super Cup final defeat to Barcelona in Jeddah. Real Madrid are currently second in La Liga, with two defeats in 19 matches, and seventh in the Champions League, with four wins and two losses."

Bold strategy - Colombia launches National Anti-Drone Shield to 'guarantee airspace'

Bold strategy - Colombia launches National Anti-Drone Shield to 'guarantee airspace'

"The Colombian government on Sunday launched the National Anti-Drone Shield Project, described as 'one of the boldest and most innovative strategies' to safeguard the country’s airspace. The project was presented in Bogota by Defence Minister Pedro Arnulfo Sanchez, who said it aims to curb the use of drones by armed groups. “This project, valued at 6.2 trillion pesos, seeks to protect our nation against a new challenge posed by drones and their use by hostile actors,” the minister said. He added that the initiative “aims to guarantee control of our airspace, because otherwise we will lose many lives.” President Gustavo Petro has allocated 1 trillion pesos for the first phase of the project. According to Sanchez, the plan is built around three core pillars: legislation and doctrine; training and operations; and technology. The multidisciplinary strategy also involves the Armed Forces and the National Police. On 29 December, President Petro ordered the defence ministry to procure anti-drone systems worth 13 trillion pesos to counter threats from terrorist organisations. The project's timeline was reportedly accelerated due to the geopolitical instability in the region in early 2026, including US military actions in neighbouring Venezuela and subsequent tensions regarding Colombian sovereignty."

Bold strategy - Colombia launches National Anti-Drone Shield to 'guarantee airspace'

Bold strategy - Colombia launches National Anti-Drone Shield to 'guarantee airspace'

"The Colombian government on Sunday launched the National Anti-Drone Shield Project, described as 'one of the boldest and most innovative strategies' to safeguard the country’s airspace. The project was presented in Bogota by Defence Minister Pedro Arnulfo Sanchez, who said it aims to curb the use of drones by armed groups. “This project, valued at 6.2 trillion pesos, seeks to protect our nation against a new challenge posed by drones and their use by hostile actors,” the minister said. He added that the initiative “aims to guarantee control of our airspace, because otherwise we will lose many lives.” President Gustavo Petro has allocated 1 trillion pesos for the first phase of the project. According to Sanchez, the plan is built around three core pillars: legislation and doctrine; training and operations; and technology. The multidisciplinary strategy also involves the Armed Forces and the National Police. On 29 December, President Petro ordered the defence ministry to procure anti-drone systems worth 13 trillion pesos to counter threats from terrorist organisations. The project's timeline was reportedly accelerated due to the geopolitical instability in the region in early 2026, including US military actions in neighbouring Venezuela and subsequent tensions regarding Colombian sovereignty."

Black gold remedy - Delcy Rodriguez directs Venezuela's oil revenues into national healthcare overhaul

Black gold remedy - Delcy Rodriguez directs Venezuela's oil revenues into national healthcare overhaul

"Venezuela's Acting President Delcy Rodriguez announced in a meeting on Tuesday that all profits from the national oil and gas industry will be reallocated to "the health needs of the Venezuelan people". "I have asked the team for an agreement with the private health sector, which we know has idle capacity in private centres and clinics, to address the surgical backlog of our people," Rodriguez announced. "With this plan, we are also already attending to 75 health centres that are brand new and ready for inauguration, and they will be equipped with income from oil revenues," she explained. The interim leader also thanked President Luis Inacio Lula da Silva, for Brazil's donation of medicines and equipment used to treat kidney patients. "I want once again, on behalf of the Venezuelan people, to thank President Lula, his government and the people of Brazil for the support they gave us during the hours of greatest anguish caused by the illicit military aggression of the United States against Venezuela," she said. Rodriguez emphasised mental health is a top priority for her administration, noting that after what she described as Washington's 'unprecedented military aggression,' the Venezuelan people have been left 'truly impacted.' On Sunday, US President Donald Trump stated that he was willing to meet with Rodriguez, after confirming that the United States "is getting along very well with the leadership," amid Washington's push to draw US companies back into Venezuela's energy market. This follows a series of geopolitical moves by the Trump administration to assert control over Venezuelan oil exports and integrate the country's production into global markets."

Black gold remedy - Delcy Rodriguez directs Venezuela's oil revenues into national healthcare overhaul

Black gold remedy - Delcy Rodriguez directs Venezuela's oil revenues into national healthcare overhaul

"Venezuela's Acting President Delcy Rodriguez announced in a meeting on Tuesday that all profits from the national oil and gas industry will be reallocated to "the health needs of the Venezuelan people". "I have asked the team for an agreement with the private health sector, which we know has idle capacity in private centres and clinics, to address the surgical backlog of our people," Rodriguez announced. "With this plan, we are also already attending to 75 health centres that are brand new and ready for inauguration, and they will be equipped with income from oil revenues," she explained. The interim leader also thanked President Luis Inacio Lula da Silva, for Brazil's donation of medicines and equipment used to treat kidney patients. "I want once again, on behalf of the Venezuelan people, to thank President Lula, his government and the people of Brazil for the support they gave us during the hours of greatest anguish caused by the illicit military aggression of the United States against Venezuela," she said. Rodriguez emphasised mental health is a top priority for her administration, noting that after what she described as Washington's 'unprecedented military aggression,' the Venezuelan people have been left 'truly impacted.' On Sunday, US President Donald Trump stated that he was willing to meet with Rodriguez, after confirming that the United States "is getting along very well with the leadership," amid Washington's push to draw US companies back into Venezuela's energy market. This follows a series of geopolitical moves by the Trump administration to assert control over Venezuelan oil exports and integrate the country's production into global markets."