Latest news with #StephensInc.
The Age
20-05-2025
- Business
- The Age
Trump's billionaire envoy joins Starmer in show of force for AUKUS
The remarks from the banker-turned-diplomat, who gave at least $US6 million ($9.3 million) to Trump's election campaign, appeared as a clear pitch to those concerned about the pact's future after his return to the White House. Loading 'This alliance enjoys broad bipartisan support,' the former chief executive of Stephens Inc. said. 'I'm sure that you all are aware that bipartisanship is certainly not always the case in American politics these days. However, it is when it comes to AUKUS.' Stephens said it was reassuring to see that that same support was reflected in the room – which included Australia's High Commission Stephen Smith and former defence minister Linda Reynolds – adding that AUKUS was 'a partnership built on trust'. 'The United States is proud to stand alongside Britain and Australia, two of our closest allies, as we deepen our collaboration to respond to a changing world,' he said. Loading His remarks come at a pivotal moment for the pact. Nearly four years after its dramatic announcement, AUKUS is shifting from high-level co-ordination to complex implementation. Announced in 2021, Pillar I of the agreement aims to deliver Australia with three nuclear-powered Virginia-class submarines from the US and build five new nuclear-powered attack submarines named SSN-AUKUS. The first of those will arrive in the late 2030s, and Australia's first domestically built sub in the early 2040s. Pillar II focuses on joint development of advanced defence technologies, including AI and quantum. While AUKUS aims to strengthen defence ties in the Indo-Pacific, former Australian prime minister Malcolm Turnbull has voiced concerns, questioning whether Australia would ever receive a US nuclear-powered submarine. The US faces challenges in its own naval capabilities, with senior Pentagon officials also questioning the feasibility of the submarine deal, given current shipbuilding limitations. Starmer, meanwhile, used the moment to double down on defence, announcing the UK's biggest military investment since the Cold War. 'In February, I announced the largest sustained increase in defence spending since the Cold War. That will come on stream in 2027 and then up to 3 per cent of GDP in the next Parliament,' he said. But he said AUKUS was about more than money. 'Alongside the pure money comes the biggest shift in mindset, I think certainly in my lifetime—to see security and defence not just as one priority amongst many, but as the central organising principle of government.' He pointed to AUKUS's industrial impact, including thousands of jobs already created in Barrow and Derby, and the role of British businesses in building the next generation of nuclear-powered submarines and advanced technology systems. 'This is transformational,' Starmer said. 'An investment in our collective security and a reminder today and every day of the service out there of people who are risking their lives to keep us safe.' Starmer said he had attempted to demonstrate both by naming former national security adviser Sir Stephen Lovegrove as his special AUKUS representative.
Sydney Morning Herald
20-05-2025
- Business
- Sydney Morning Herald
Trump's billionaire envoy joins Starmer in show of force for AUKUS
The remarks from the banker-turned-diplomat, who gave at least $US6 million ($9.3 million) to Trump's election campaign, appeared as a clear pitch to those concerned about the pact's future after his return to the White House. Loading 'This alliance enjoys broad bipartisan support,' the former chief executive of Stephens Inc. said. 'I'm sure that you all are aware that bipartisanship is certainly not always the case in American politics these days. However, it is when it comes to AUKUS.' Stephens said it was reassuring to see that that same support was reflected in the room – which included Australia's High Commission Stephen Smith and former defence minister Linda Reynolds – adding that AUKUS was 'a partnership built on trust'. 'The United States is proud to stand alongside Britain and Australia, two of our closest allies, as we deepen our collaboration to respond to a changing world,' he said. Loading His remarks come at a pivotal moment for the pact. Nearly four years after its dramatic announcement, AUKUS is shifting from high-level co-ordination to complex implementation. Announced in 2021, Pillar I of the agreement aims to deliver Australia with three nuclear-powered Virginia-class submarines from the US and build five new nuclear-powered attack submarines named SSN-AUKUS. The first of those will arrive in the late 2030s, and Australia's first domestically built sub in the early 2040s. Pillar II focuses on joint development of advanced defence technologies, including AI and quantum. While AUKUS aims to strengthen defence ties in the Indo-Pacific, former Australian prime minister Malcolm Turnbull has voiced concerns, questioning whether Australia would ever receive a US nuclear-powered submarine. The US faces challenges in its own naval capabilities, with senior Pentagon officials also questioning the feasibility of the submarine deal, given current shipbuilding limitations. Starmer, meanwhile, used the moment to double down on defence, announcing the UK's biggest military investment since the Cold War. 'In February, I announced the largest sustained increase in defence spending since the Cold War. That will come on stream in 2027 and then up to 3 per cent of GDP in the next Parliament,' he said. But he said AUKUS was about more than money. 'Alongside the pure money comes the biggest shift in mindset, I think certainly in my lifetime—to see security and defence not just as one priority amongst many, but as the central organising principle of government.' He pointed to AUKUS's industrial impact, including thousands of jobs already created in Barrow and Derby, and the role of British businesses in building the next generation of nuclear-powered submarines and advanced technology systems. 'This is transformational,' Starmer said. 'An investment in our collective security and a reminder today and every day of the service out there of people who are risking their lives to keep us safe.' Starmer said he had attempted to demonstrate both by naming former national security adviser Sir Stephen Lovegrove as his special AUKUS representative.
Straits Times
29-04-2025
- Business
- Straits Times
US Senate confirms billionaire businessman Stephens as ambassador to Britain
FILE PHOTO: The U.S. Embassy stands in Nine Elms in London, Britain May 1, 2018. REUTERS/Simon Dawson/File Photo WASHINGTON - The U.S. Senate on Tuesday confirmed billionaire investment banker Warren Stephens to be ambassador to Britain, backing President Donald Trump's nominee by 59 to 39. Stephens is chairman, president, and CEO of Stephens Inc., a privately owned financial services firm headquartered in Little Rock, Arkansas. He is a longtime contributor to Republican candidates, including Trump, having donated millions of dollars to support his campaigns and 2025 inauguration fund. U.S. presidents often name major donors to the prestigious post in London. During Trump's first term in the White House, Woody Johnson, the owner of the New York Jets National Football League team, held the post. Stephens will represent the United States in London as Prime Minister Keir Starmer's government seeks to reset ties with the European Union after Brexit, when Britain left the EU in 2020, following Trump's upending of security and trade alliances. Starmer's government is also seeking an improved economic deal with Washington to lower some of the tariffs Trump has imposed on imported goods. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Reuters
29-04-2025
- Business
- Reuters
US Senate confirms billionaire businessman Stephens as ambassador to Britain
WASHINGTON, April 29 (Reuters) - The U.S. Senate on Tuesday confirmed billionaire investment banker Warren Stephens to be ambassador to Britain, backing President Donald Trump's nominee by 59 to 39. Stephens is chairman, president, and CEO of Stephens Inc., a privately owned financial services firm headquartered in Little Rock, Arkansas. He is a longtime contributor to Republican candidates, including Trump, having donated millions of dollars to support his campaigns and 2025 inauguration fund. U.S. presidents often name major donors to the prestigious post in London. During Trump's first term in the White House, Woody Johnson, the owner of the New York Jets National Football League team, held the post. Stephens will represent the United States in London as Prime Minister Keir Starmer's government seeks to reset ties with the European Union after Brexit, when Britain left the EU in 2020, following Trump's upending of security and trade alliances. Starmer's government is also seeking an improved economic deal with Washington to lower some of the tariffs Trump has imposed on imported goods.
