Australia Selects Japan to Supply New $10 Billion Frigate Fleet
To be built by Mitsubishi Heavy Industries, the Mogami frigate was selected ahead of the German TKMS MEKO A-200.
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Politico
an hour ago
- Politico
Trump tells European leaders he'll continue Russia talks through in-person meetings with Putin
The New York Times previously reported on the plan for the meeting, which the Times said will occur as soon as next week. The German official did not provide any details on the timing of the planned meetings. The White House has not confirmed such a proposal was outlined with the European leaders. Earlier Wednesday, White House spokesperson Karoline Leavitt said Trump remained open to the prospect of meeting with Putin, but declined to say whether such a proposal was outlined in the phone call. Putin met with Trump's special envoy Steve Witkoff in Moscow earlier Wednesday and Trump described that three-hour meeting at the Kremlin as 'highly productive.' It's unclear what the planned meeting with Putin means for Trump's Friday deadline for imposing sanctions against countries who purchase Russian energy – which he has said he will do to punish Moscow if it doesn't make more progress towards a peaceful end to the war in Ukraine. The White House did not immediately respond to a request for comment on the European leaders' call. Trump pledged to end the war in Ukraine 'on day one' of his second presidency. But Russia has stymied peace talks, infuriating both Ukrainian and American negotiators by continuing to conduct airstrikes on civilian targets in Ukraine. Trump threatened in July to impose hefty new sanctions and secondary measures to punish the Russian economy, targeting oil sales that have allowed it to stay economically afloat despite becoming a global economic pariah since the invasion.
New York Post
2 hours ago
- New York Post
US auctioning off seized $325M Russian superyacht, equipped with helipad, private gym and luxury spa
The United States is auctioning off the $325 million yacht Amadea, its first sale of a seized Russian luxury ship since the start of Moscow's invasion of Ukraine. The auction, which closes Sept. 10, comes as President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their yachts seized, to try to compel him to stop the war. The 348-foot-long (106-meter-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lürssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator. It accommodates 16 guests and 36 crew members. Advertisement 5 The yacht Amadea of sanctioned Russian Oligarch Suleiman Kerimov, seized by the Fiji government at the request of the US, arrives at the Honolulu Harbor, Hawaii, June 16, 2022. AFP via Getty Images Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based in the Cayman Islands. The U.S. contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the U.S. in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it. Advertisement 5 Crew members look on as the yacht Amadea of sanctioned Russian Oligarch Suleiman Kerimov arrives at the Honolulu Harbor, Hawaii, June 16, 2022. AFP via Getty Images 5 The 106m-long and 18m-high super luxury motor yacht Amadea, one of the largest yacht in the world is seen after anchored at pier in Pasatarlasi for bunkering with 9 fuel trucks, on February 18, 2020 in Bodrum district of Mugla province in Turkey. Anadolu Agency via Getty Images U.S. prosecutors say Khudainatov is a straw owner of the yacht, intended to conceal the yacht's true owner, Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said in an emailed statement Wednesday that the planned sale of the yacht is 'improper and premature' since Khudainatov is appealing a forfeiture ruling. Advertisement 'We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation,' said the representative, Adam Ford. 5 A photo taken on April 13, 2022 shows the superyacht Amadea, reportedly owned by a Russian oligarch, berthed at the Queens Wharf in Lautoka. FIJI SUN/AFP via Getty Images 5 Crew members get the mooring ropes ready as the yacht Amadea of sanctioned Russian Oligarch Suleiman Kerimov, seized by the Fiji government at the request of the US, arrives at the Honolulu Harbor, Hawaii, June 16, 2022. AFP via Getty Images The yacht has been virtually untouched since the National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a 10 million euro deposit, the equivalent of roughly $11.6 million, to be considered. Advertisement Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $325 million. 'Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court,' Ford said. A U.S. aid package for Ukraine signed into law in May 2024 gave the U.S. the ability to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv, which was attacked by Russia in February 2022.
Yahoo
3 hours ago
- Yahoo
Wayfair posts first quarterly profit in 4 years
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Wayfair on Monday swung into the black, posting its first quarterly profit since the second quarter of 2021. The online home furnishings company reported a Q2 net income of $15 million, up from a loss of $42 million last year, and an operating income of $17 million, from a loss of $35 million a year ago. The retailer's net revenue grew 5% year over year to $3.3 billion. Excluding the impact from its exit from the German market, Wayfair's net revenue increased 6%. U.S. revenues grew 5.3%, while international revenues were up 3.1%. The company's active customer base, however, declined 4.5% from the year-ago period. Orders per customer grew slightly, from 1.85 to 1.86. Dive Insight: CEO Niraj Shah declared Wayfair's second quarter 'a resounding success,' noting that the period 'was a nice proof point of the journey that we've been on and even more exciting of what is to come.' The home retailer turned a quarterly profit for the first time in four years, even as the broader home market remains challenged. Jefferies analysts led by Jonathan Matuszewski highlighted Wayfair's potential 'that stronger sales could unlock substantially-higher margins.' 'Imagine what's ahead when housing cooperates,' Matuszewski said in a Monday note. While retailers in the home sector have experienced lower demand in recent years, some retailers saw a lift more recently as consumers pulled purchases forward as fears of tariffs — and potential price increases — loomed. But Wayfair hasn't experienced noticeable changes in its customers' buying habits, executives said Monday, and Shah touted the company's marketplace model, which has allowed its prices to remain largely unchanged. 'The marketplace forces of our inventory-light model give us unmatched flexibility. … The benefits of this model continue to prove self-evident despite the various ebbs and flows of the broad business environment,' he said, adding that prices across the items consumers are currently purchasing are relatively consistent with those from the previous quarter. 'The momentum feels to us, driven by the structural business initiatives, not by any one-time events, any unique pull forward, anything like that. And that momentum is continuing,' CFO Kate Gulliver said on Monday's call with analysts. Wayfair in recent months has launched a number of initiatives, including its Wayfair Verified tool and paid loyalty program. The company has also been steadily building out its brick-and-mortar footprint across its various banners. Wayfair's first large-format store — which opened just over a year ago in Wilmette, Illinois, outside of Chicago — has helped drive purchases in less-frequented categories for the retailer. The company said it has seen a 50% increase in lower-ticket items like kitchen accessories purchases and a more than 35% increase in home improvement purchases, including bathroom renovation items and kitchen cabinets. Wayfair has plans to expand its large-format concept to Denver, Atlanta and Yonkers, New York. Recommended Reading Wayfair narrows losses even as revenue falls 2% in Q3 Sign in to access your portfolio
