2025-06-23 19:27
NEW YORK, June 23 (Reuters) - Northern Trust (NTRS.O) , opens new tab is fully committed to remaining independent, the bank said on Monday, after a Wall Street Journal report said Bank of New York Mellon had approached the asset and wealth manager to express interest in a merger. "I can tell you that Northern Trust is fully committed to remaining independent and continuing to deliver long-term value to our stakeholders, as we have for the past 135 years," its spokesperson said in an email. Sign up here. The comments came after a Wall Street Journal report said Bank of New York Mellon Corp BK.N had approached Northern Trust recently to express interest in a merger with its smaller rival. https://www.reuters.com/business/finance/northern-trust-says-it-is-fully-committed-remaining-independent-2025-06-23/
2025-06-23 19:13
Trump urges 'everyone' to keep oil prices down US energy secretary supports Trump's call for more drilling Companies make drilling decisions in US, not government Oil prices jump nearly 6% to 5-month high, then fall 7.3% June 23 (Reuters) - U.S. President Donald Trump urged his administration on Monday to boost drilling rates and market players to keep oil prices down amid fears that the aftermath of the U.S. attacks on Iran's nuclear facilities could cause energy prices to spike. Trump addressed the U.S. Department of Energy in a post on his Truth Social platform encouraging it to "drill, baby, drill" and saying, "I mean now," despite no major oil disruptions after the bombings. Sign up here. In another post on the platform, Trump said in all caps: "Everyone, keep oil prices down, I'm watching! You're playing into the hands of the enemy, don't do it." U.S. Energy Secretary Chris Wright responded, "We're on it!" to the drilling message, in a post on X. It was not immediately clear what the DOE could do to boost drilling in the world's top oil and gas producer, where drilling decisions are made by private companies. Output already hit record highs during the previous administration of President Joe Biden. The DOE did not immediately respond to a question on Wright's comment. Global benchmark Brent oil prices oscillated on Monday, as oil and gas transit continued on tankers from the Middle East after U.S. air strikes against Iran. It jumped nearly 6% to a five-month high early in the session, then was down 7.3% in afternoon trading after Iran focused its retaliation on a U.S. airbase in Qatar but did not disrupt the oil flow in the region. Wright said during an interview on CNBC that he was not surprised that oil prices fell on Monday. "I would not expect much movement of oil upwards from the tensions that are going on," he said. "We're in such a good position today, this American energy dominance that President Trump ran on." If severe interruptions in oil supplies develop, such as the remote possibility that Iran restricts shipping in the Strait of Hormuz, the United States could tap the Strategic Petroleum Reserve, the world's largest emergency crude oil stash. Wright also has the power to conduct test sales or exchanges, limited to 5 million barrels, from the reserve, which currently holds about 403 million barrels. But the Trump administration has criticized Biden's use of the SPR after Russia invaded Ukraine in 2022. Doug Burgum, Trump's interior secretary and head of a new National Energy Dominance Council that seeks to boost fossil fuel output, said on X that U.S. oil and gas production "weakens the leverage of authoritarian regimes like Iran who rely on energy coercion to lead." https://www.reuters.com/business/energy/trump-tells-everyone-keep-oil-prices-down-after-iran-attacks-2025-06-23/
2025-06-23 19:12
CAIRO, June 23 (Reuters) - The national security committee of Iran's parliament approved the general outline of a bill meant to fully suspend Tehran's cooperation with the UN nuclear watchdog, semi-official Tasnim news agency reported on, citing committee spokesperson Ebrahim Rezaei. Rezaei said that according to the bill, installing surveillance cameras, allowing inspections, and submitting reports to the IAEA would be suspended as long as the security of nuclear facilities is not guaranteed. Parliament still has to approve the bill in a plenary. Sign up here. https://www.reuters.com/world/middle-east/iranian-parliament-committee-approves-general-plan-suspend-cooperation-with-iaea-2025-06-23/
2025-06-23 18:49
US court recognition needed to enforce English court judgments IMF has GDP-linked debt on its records, said negotiations were under way Funds argued in 2022 that Argentina had a “propensity” to manipulate economic data NEW YORK, June 23 (Reuters) - Holders of Argentina's 1.5 billion-euro-denominated GDP warrants filed on Monday for U.S. courts to recognize English court judgments that hold Argentina liable for that debt, ramping up the heat as Argentina reforms open a path toward capital market access. Hedge funds holding around 48% of the output-linked securities issued between 2005 and 2010 sued Argentina in 2019 and English courts ruled in their favor last October and in April 2023, leaving Argentina on the hook. Funds argued in 2022 that Argentina had a “propensity” to manipulate economic data to save billions of dollars -including in its payment to GDP warrant holders. Sign up here. "While the claimants remain open to finding a consensual resolution with respect to the sums outstanding under the English Judgments ... they intend to vigorously enforce their rights in any and all appropriate forums," said a statement from law firm Quinn Emanuel Urquhart & Sullivan, which represents certain holders. In order to be able to enforce the judgments against Argentine assets in the United States, the U.S. court would have to recognize the outcome of the process in the English courts. The statement says that to secure a $20 billion program with the International Monetary Fund announced in April, "it appears that Argentina evidently made representations to the Fund that it was engaged in active, good-faith efforts to resolve the English Judgments to address the Fund's lending into arrears guidelines. No negotiations are ongoing, and to the extent Argentina represented that they were, that representation was incorrect." In its staff report on Argentina from April, the IMF mentions final judgment on the GDP warrant debt for 1.6 billion euros "where negotiations are underway to define a repayment schedule." The IMF did not respond to a request for comment on whether Argentina reported that negotiations were ongoing or if the fund made its own checks. The Argentine government did not respond to a request for comment. The Quinn Emanuel statement also cites the IMF program target of Argentina regaining access to international capital markets. "There should not be, nor can there be in practice, any market access until and unless Argentina resolves its default under the English Judgments," the statement said. https://www.reuters.com/legal/litigation/holders-argentina-15-billion-euro-gdp-warrants-file-us-recognition-english-2025-06-23/
2025-06-23 18:47
OTTAWA, June 23 (Reuters) - Canada and the United States have a chance to strike a new economic and defense relationship but nothing is assured, Canadian Prime Minister Mark Carney said on Monday. Last Monday, Carney said he had agreed with U.S. President Donald Trump that their two nations should try to wrap up talks on a new deal within 30 days. Sign up here. "We're working hard to get a deal, but we'll only accept the right deal with the United States. The right deal is possible, but nothing's assured," he told a televised news conference in Brussels after talks with senior European Union officials. https://www.reuters.com/world/americas/right-canada-us-deal-possible-nothing-assured-carney-says-2025-06-23/
2025-06-23 18:26
WASHINGTON, June 23 (Reuters) - No Iranian missiles hit the U.S. military's al Udeid airbase in Qatar, a U.S. official told Reuters on Monday. The initial assessment follows an attempted attack by Iran on the base using short- and medium-range missiles. Sign up here. https://www.reuters.com/business/aerospace-defense/no-iranian-missiles-hit-us-base-qatar-us-official-tells-reuters-2025-06-23/
