Latest news with #U.S-based
Eyewitness News
22-07-2025
- Business
- Eyewitness News
Sibanye-Stillwater seals R1.45 billion deal to buy U.S-based Metallix
Confirmation coming through on Monday morning from Sibanye-Stillwater that it's acquired U.S-based Metallix for around R1.45 billion. Sibanye-Stillwater, one of the world's largest platinum producers explained that the acquisition will complement its existing US recycling operations. Metallix produces recycled precious metals, including gold, silver and platinum group metals from industrial wasre streams in North Carolina. Speaking to Stephen Grootes on The Money Show, Peter Major, director of mining at Modern Corporate Solutions says the move aims to boost Sibanye-Stillwater's U.S recycling operations by adding a long-established precious metals recycler to its portfolio.
Business Recorder
11-07-2025
- Business
- Business Recorder
State Department starts firing more than 1,350 workers in Trump's shake-up of diplomatic corps
WASHINGTON: The State Department will start firing more than 1,350 U.S-based employees on Friday as the administration of President Donald Trump presses ahead with an unprecedented overhaul of its diplomatic corps, a move critics say will undermine U.S. ability to defend and promote U.S. interests abroad. The layoffs will cover 1,107 civil service and 246 foreign service officers based in the United States, according to an internal State Department notice sent to the workforce and seen by Reuters. 'The Department is streamlining domestic operations to focus on diplomatic priorities,' the notice said. 'Headcount reductions have been carefully tailored to affect non-core functions, duplicative or redundant offices, and offices where considerable efficiencies may be found,' it added. The move is the first step of a restructuring that Trump has sought to ensure U.S. foreign policy is aligned with his 'America First' agenda. Former diplomats and critics say the firing of foreign service officers risks America's ability to counter the growing assertiveness from adversaries such as China and Russia. Trump in February ordered Secretary of State Marco Rubio to revamp the foreign service to ensure that the Republican president's foreign policy is 'faithfully' implemented. He has also repeatedly pledged to 'clean out the deep state' by firing bureaucrats that he deems disloyal. The shake-up is part of an unprecedented push by Trump to shrink the federal bureaucracy and cut what he says is wasteful spending of taxpayer money. The reorganization had been expected to be largely concluded by July 1 but did not proceed as planned amid ongoing litigation, as the State Department waited for the U.S. Supreme Court to weigh in on the Trump administration's bid to halt a judicial order blocking mass job cuts. On Tuesday, the Court cleared the way for the Trump administration to pursue the job cuts and the sweeping downsizing of numerous agencies, a decision that could lead to tens of thousands of layoffs while dramatically reshaping the federal bureaucracy.
Global News
11-07-2025
- Politics
- Global News
U.S. State Department is axing more than 1,300 employees
The State Department began firing more than 1,350 U.S-based employees on Friday as the administration of President Donald Trump presses ahead with an unprecedented overhaul of its diplomatic corps, a move critics say will undermine U.S. ability to defend and promote U.S. interests abroad. The layoffs will cover 1,107 civil service and 246 foreign service officers based in the United States, according to an internal State Department notice sent to the workforce and seen by Reuters. 'The Department is streamlining domestic operations to focus on diplomatic priorities,' the notice said. 'Headcount reductions have been carefully tailored to affect non-core functions, duplicative or redundant offices, and offices where considerable efficiencies may be found,' it added. The total reduction in the workforce will be around 3,000 including the voluntary departures, out of the 18,000 employees based in the United States, according to the notice and a senior State Department official. 0:48 Israel-Iran war: State Department won't fly out Americans in region, but will provide 'support' The move is the first step of a restructuring that Trump has sought to ensure U.S. foreign policy is aligned with his 'America First' agenda. Former diplomats and critics say the firing of foreign service officers risks America's ability to counter the growing assertiveness from adversaries such as China and Russia. Story continues below advertisement 'President Trump and Secretary of State Rubio are once again making America less safe and less secure,' Democratic senator Tim Kaine from Virginia said in a statement. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'This is one of the most ridiculous decisions that could possibly be made at a time when China is increasing its diplomatic footprint around the world and establishing an overseas network of military and transportation bases, Russia is continuing its years-long brutal assault of a sovereign country, and the Middle East is careening from crisis to crisis,' Kaine said. Trump in February ordered Secretary of State Marco Rubio to revamp the foreign service to ensure that the Republican president's foreign policy is 'faithfully' implemented. He has also repeatedly pledged to 'clean out the deep state' by firing bureaucrats that he deems disloyal. The shake-up is part of an unprecedented push by Trump to shrink the federal bureaucracy and cut what he says is wasteful spending of taxpayer money. Rubio said department was 'bloated' Rubio announced the plans for the shake-up in April, saying the Department in its current form was 'bloated, bureaucratic' and was not able to perform its mission 'in this new era of great power competition.' Story continues below advertisement He envisioned a structure that he said would give back the power to regional bureaus and embassies and get rid of programs and offices that do not align with America's core interests. That vision would see the elimination of the role of top official for civilian security, democracy, and human rights and the closure of some offices that monitored war crimes and conflicts around the world. 1:52 Marco Rubio appears to be front runner for Trump's Secretary of State The reorganization had been expected to be largely concluded by July 1 but did not proceed as planned amid ongoing litigation, as the State Department waited for the U.S. Supreme Court to weigh in on the Trump administration's bid to halt a judicial order blocking mass job cuts. On Tuesday, the court cleared the way for the Trump administration to pursue the job cuts and the sweeping downsizing of numerous agencies. Since then, The White House Counsel's Office and the Office of Personnel Management has been coordinating with federal agencies to ensure their plans comply with the law. Story continues below advertisement Last week, more than 130 retired diplomats and other former senior U.S. officials issued an open letter criticizing the planned overhaul. —Reporting by Humeyra Pamuk; Editing by Chizu Nomiyama and Alistair Bell
Economic Times
05-07-2025
- Business
- Economic Times
Beyond Jane Street, global trading firms vie for India's lucrative derivatives market: Report
Live Events Expanding footprints (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel It is not just the Jane Street Group LLC that saw promise in India's lucrative derivatives markets. There are half-a-dozen other global trading giants which are fighting for a larger pie. Among them are US-based Citadel Securities, IMC Trading, Millennium and Netherlands-based Optiver.A Reuters report said that these firms are ratcheting up their presence in India's booming derivatives markets, fuelling a hiring spree and pushing exchanges to improve firms' hiring plans, being reported for the first time, come amid expectations that large domestic consumer and investor bases will help shield India from global turmoil sparked by the trade policies of U.S. President Donald Trump, the report a South Asian power house, accounted for nearly 60% of global equity derivative trading volumes of 7.3 billion in April, this report said, quoting the Futures Industry Association though its regulators say notional turnover of the contracts has grown 48 times since March gold rush from international operators comes in light of U.S-based Jane Street's success, though Jane Street has hit a regulatory wall and is under interim ban from accessing the Indian Thursday, Securities and Exchange Board of India (Sebi) in an interim order held Jane Street in violation of rules, holding the company for manipulating derivatives (F&O) markets and making unlawful gains worth up to Rs 36,500 crore. Media reports have cited that it may increase the scope of its investigation to more indices and foreign trading companies are taking a leaf out of Jane Street's books to consolidate their presence in India."We have seen competition increasing both on the trading front, where you see more players going for the same opportunities, and on the job market as well," the Reuters report said quoting Jocelyn Dentand of global high-speed trader IMC Trading. The firm plans to grow its team by more than 50% by the end of 2026 to stand at more than 150, added Dentand, the managing director of its India Securities, a market-making firm founded by well-known investor Kenneth Griffin, runs a leaner team of around 10, this report sources familiar with the firm's plans, Reuters said that Citadel Securities also recently hired chief operating officer for India as well as a country head of trading, building on its endeavor to seek fund Millennium is expanding its India desk via Dubai and Singapore, a source told Jane Street Group made headlines for offering a Rs 4.3-crore annual package to an IIT Madras student prior to the Sebi ban order. The viral news of this extraordinary offer highlighted Jane Street's lucrative compensation and rigorous recruitment process, which aligns with its global practice of hiring from top-tier universities such as MIT, Harvard, Cambridge, Oxford, Princeton, and Stanford.
Wales Online
01-07-2025
- Health
- Wales Online
Website nobody can shut down linked to dozens of deaths
Website nobody can shut down linked to dozens of deaths The US-based website has been strongly condemned by a coroner after a 'cluster' of eight deaths (L-R) Matthew O'Reilly, Kelly Walsh and Samuel Dickenson (Image: Family handouts ) A controversial online forum linked to several suicides in Greater Manchester is still active, despite repeated warnings from police and a senior coroner. Manchester West coroner Timothy Brennand has raised concerns that the site may be putting more lives at risk. The Manchester Evening News, which first reported the story, has chosen not to name the forum because of its harmful content. The forum has been mentioned in at least six suicide inquests in Greater Manchester. These include the deaths of 45-year-old Kelly Walsh, 18-year-old university student Matthew O'Reilly, and Samuel Dickenson, a 33-year-old father of two. Their deaths involved a dangerous substance discussed on the site. Mr Brennand has written to the Home Office warning that more lives could be lost if the forum continues to operate without action. Useful numbers for dealing with your mental health There's help available if you need it: Mind Cymru infoline is open Monday to Friday from 9am to 6pm. To contact them call 0300 123 3393. Samaritans offers a listening service which is open 24 hours a day, on 116 123 (in the UK and Republic of Ireland this number is FREE to call and will not appear on your phone bill). C.A.L.L. (Community Advice & Listening Line) offers emotional support and information/literature on mental health and related matters to the people of Wales and can be contacted on 0800 132 737 or through the website. The NHS offers help and advice through its 111 service. He said police had found that people could easily access websites, mostly based in other countries, that give detailed information about how to take their own lives, including where to find dangerous materials and how to use them. He added that between 2022 and 2023, police linked 45 deaths in the UK and Europe to the use of one particular method shared online. Another 40 people were found to have bought materials with the intention of ending their lives. Article continues below Detective Inspector Andrew Wright, speaking at the inquest into Kelly Walsh's death, said forum users often shared instructions and encouraged others who were thinking about suicide. He explained that many of the posts offer advice on how to get the materials used in these cases. The website currently has more than 56,000 members and over 2.8 million posts. Some of these are personal stories of suicide attempts and deaths, often shared in distressing detail. Despite this, the site still appears to be available in the UK, including to young people. The forum's home page also includes a response to the Ofcom investigation, describing it as a 'clear and unprecedented overreach by a foreign regulator against a U.S-based platform'. It adds: "We reject this interference and will be defending the site's existence and mission." Ged Flynn, chief executive of suicide prevention charity Papyrus, said that online forums like this can be especially harmful to young people and others who are struggling. 'Those who peddle the gratuitous promotion of self-harm and suicide content online must weigh up the consequences before putting their work before the public, particularly young people and those who may be vulnerable,' he said. 'We believe many suicides can be prevented and we all have a role to play in making our communities suicide-safer. Young people need to know they are not alone and that professional help and advice is available right now. 'There is nothing better in our darkest hour to have a conversation with a person who can help us to navigate emotional distress and keep us suicide-safe. Our professional advisors are a lifeline to young people, their parents and friends when suicidal thinking becomes a reality.' Ofcom, the UK's communications regulator, started investigating the site in April under the new Online Safety Act. The law requires websites and apps to protect users in the UK from harmful and illegal content, including anything that encourages suicide. A spokesperson said: 'In March, duties under the Online Safety Act came into force that mean service providers must now take steps to protect their UK users from illegal content and activity – including encouraging or assisting suicide. 'In April, we launched our first investigation under the Act, which was into the provider of an online suicide forum. Due to its nature, we have decided not to name the provider and forum. 'We made several attempts to engage with this provider in respect of its duties under the Act and issued a legally binding request to tell us what steps are being taken to protect UK users from illegal content. 'Having received a limited response to our request, and unsatisfactory information, we launched an investigation into whether the provider is complying with its legal obligations under the Act. We are currently gathering and analysing evidence to determine whether a contravention has occurred. 'If our assessment indicates a compliance failure, we will issue a provisional notice of contravention to the provider, who can then make representations on our findings, before we make our final decision. We will provide an update on this investigation as soon as possible.' If the site is found to be breaking the law, Ofcom has the power to fine it up to £18 million or 10 percent of its global income. In serious cases, the regulator can also ask internet companies or payment providers to block access to the site from within the UK. Article continues below A government spokesperson said: 'Our thoughts are with the families and friends of all those who have tragically lost their lives in these incidents. 'We have received the Future Prevention of Deaths Report from the coroner and we will consider it carefully. The Government keeps dangerous substances under constant review to ensure appropriate regulation and controls are in place. 'We also expect retailers to report any attempted or suspicious transactions of restricted materials under the Poisons Act, especially where the buyer may intend to cause harm to themselves or others. The Online Safety Act also requires platforms to remove illegal content, including that which encourages people to self-harm or take their own lives.'
