Argentina Says It Won't Negotiate With Burford Over YPF Shares
The spokesman, Manuel Adorni, also denied that the government had held any secret talks. 'Argentina will not negotiate with the plaintiffs and categorically denies any malicious discussion of parallel meetings or secret agreements,' he said.
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Fox News
an hour ago
- Fox News
What are ICE's visiting policies, and why are Democrats suing over them?
After Democratic lawmakers filed a lawsuit over being denied access to a Maryland ICE facility, DHS is clarifying its simple procedures for members of Congress to request a visit to its facilities. According to ICE's Office of Congressional Relations website, members of Congress need only submit a request via email at least seven days in advance of their desired visit. A Department of Homeland Security spokesperson explained to Fox News Digital that the seven-day requirement is to "prevent interference with the President's Article II authority to oversee executive department functions." "A week is sufficient to ensure no intrusion on the President's constitutional authority," the spokesperson said, adding, "To protect the President's Article II authority, any request to shorten that time must be approved by the Secretary." The spokesperson also noted that "ICE law enforcement has seen a surge in assaults of 830%, as well as disruptions and obstructions to enforcement, including by politicians themselves." A dozen Democrats are suing the Trump administration for "unlawful obstruction of congressional oversight" after Democratic members of the Maryland congressional delegation were denied entry to a Baltimore ICE facility on Monday. Maryland Democratic Senators Chris Van Hollen and Angela Alsobrooks, along with Reps. Glenn Ivey, Johnny Olszewski, Sarah Elfreth and Kweisi Mfume, showed up in Baltimore at the Fallon Federal Building on Monday but were denied entry into an ICE detainment facility in the building. After being denied access to the facility, the group held a press conference outside the building in which Mfume said, "We had to stand outside, bang on the door and ultimately sit in front of the door." The Democrats filed their lawsuit against the administration on Wednesday in the U.S. District Court for the District of Columbia. Rep. Joe Neguse, D-Colo., said in a statement announcing the suit that "blocking Members of Congress from oversight visits to ICE facilities that house or otherwise detain immigrants clearly violates Federal law — and the Trump administration knows it." In response, DHS Assistant Secretary for Communications Tricia McLaughlin told Fox News that "these Members of Congress could have just scheduled a tour; instead, they're running to court to drive clicks and fundraising emails." After the incident, Ivey's office shared a letter with Fox News Digital dated July 21 in which the delegation informed Noem and acting ICE Director Todd Lyons of their intent to visit the Baltimore facility. The letter did not appear to be making any request. House Committee on Oversight and Government Reform Chairman James Comer, R-Ky., and Ranking Member Robert Garcia, D-Calif., were also included in the letter. A person familiar with the Democrats who attempted to visit the Maryland facility told Fox News Digital that "the letter sent to Secretary Noem was a notice given, not a 'request,' because under the law, Members of Congress, doing their oversight responsibilities, don't have to ask for permission, but as a courtesy, they notified DHS a full seven days before the visit." The person added that "under the law the co-equal branch of government has the right to conduct 'surprise' inspections to ensure American taxpayer dollars are being spent appropriately." Commenting on the lawsuit, National Republican Congressional Committee spokesman Mike Marinella remarked to Fox News Digital that Democrats "have gone from ignoring the border to targeting the men and women who enforce it." "This is the Democrat Party's platform, and they're not even trying to hide it," said Marinella.
Yahoo
an hour ago
- Yahoo
Vale SA (VALE) Q2 2025 Earnings Call Highlights: Strong Production Gains Amid Cost Reductions
Pro Forma EBITDA: $3.4 billion in Q2 2025, up 7% quarter-on-quarter, down 14% year-on-year. Iron Ore Production: 84 million tons, 4% increase year-on-year. Nickel Production: 44% increase year-on-year. Copper Production: 18% increase year-on-year. C1 Cash Cost for Iron Ore: $22.2 per ton, down 11% year-on-year. All-in Cost for Iron Ore: $55.3 per ton, down 10% year-on-year. All-in Cost for Copper: Decreased by 60%, reaching $1,400 per ton. All-in Cost for Nickel: Decreased by 30% year-on-year. Recurring Free Cash Flow: $1 billion in Q2, $500 million higher than Q1. CapEx Guidance: $5.9 billion for the year. Interest on Capital Distribution: $1.4 billion to be paid in September. Expanded Net Debt: Ended the quarter at $17.4 billion. Warning! GuruFocus has detected 8 Warning Signs with VALE. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Vale SA (NYSE:VALE) achieved a 55% reduction in high potential recordable injuries, reinforcing its commitment to safety. Iron ore production reached 84 million tons, marking a 4% year-on-year increase and the highest second-quarter output since 2018. Nickel production rose 44% year-on-year, driven by productivity initiatives and the successful ramp-up of the Voisey's Bay underground mine. Copper production increased by 18% compared to the same period last year, marking the best second quarter since 2019. Vale SA (NYSE:VALE) announced a distribution of $1.4 billion in interest on capital, reinforcing its commitment to shareholder returns. Negative Points Pro forma EBITDA decreased by 14% year-on-year due to a 13% decline in iron ore reference prices. Pellet premiums have declined, impacting the demand for higher production in regions outside China. The strategic review of the Hu'u project in Indonesia is still ongoing, with no clear outcome yet. The caves decree, which could impact licensing processes, is taking longer than expected to be resolved. Despite improvements, the company faces challenges in maintaining cost reductions amid inflationary pressures. Q & A Highlights Q: Can you elaborate on Vale's product mix strategy considering market conditions and the ramp-up of Simandou? A: Rogerio Nogueira, Executive Vice President - Commercial and Development, explained that Vale focuses on optimizing total contribution by adjusting its product offering dynamically in response to market changes. The company is enhancing its supply chain flexibility by increasing concentration and blending capacities. As Simandou ramps up, Vale is prepared to adjust its product mix and channel allocation accordingly. Q: What are the expectations for cost savings and profitability improvements in Vale Base Metals, particularly for nickel and copper? A: Shaun Usmar, CEO of Vale Base Metals, highlighted that significant cost improvements have been achieved through efficiency programs, with a focus on reducing global overhead and increasing productivity. Nickel and copper operations have seen substantial fixed cost reductions and improved byproduct revenues, contributing to enhanced profitability. Q: How does Vale plan to manage shareholder returns, and is there potential for more aggressive buybacks? A: Carlos Medeiros, Executive Vice President of Operations, stated that Vale remains committed to shareholder returns, with decisions on additional dividends or buybacks depending on cash flow performance and market conditions. The company is prepared to use derivatives for buybacks to manage capital costs and cash flow effectively. Q: What is the outlook for Vale's iron ore production and the impact of the caves decree on operations? A: Carlos Medeiros confirmed that Vale is on track to meet its 2025 production guidance and remains confident in achieving its 2026 targets. Gustavo Pimenta, CEO, added that Vale is prepared for any scenario regarding the caves decree and continues to work on alternative plans to ensure operational resilience. Q: Why is Vale focusing on developing smaller copper deposits in Brazil instead of larger projects like Hu'u in Indonesia? A: Shaun Usmar explained that Vale prioritizes value and execution risk, with smaller projects in Brazil offering lower capital intensity and leveraging existing infrastructure. The strategic review of Hu'u is ongoing, with potential joint ventures being considered to manage risk and reward effectively. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Washington Post
2 hours ago
- Washington Post
States sue Trump administration over access to care for transgender youths
A coalition of more than a dozen states sued the Trump administration on Friday over health care for transgender young people, claiming the White House has 'relentlessly, cruelly, and unlawfully targeted transgender individuals' since President Donald Trump took office. The lawsuit, filed in federal court in Massachusetts, seeks to have part of one executive order issued in January declared unconstitutional. The order targets gender-affirming care provided to people under the age of 19, such as puberty blockers, hormone therapy and surgical procedures, which it refers to as 'mutilation.' The lawsuit also asks the court to declare unlawful the Justice Department's targeting of providers of gender-affirming care. The section of the order that is being challenged directs the Justice Department to use laws such as the Food, Drug and Cosmetic Act, those against female genital mutilation, and child custody legislation to carry out the administration's aims. 'It is the policy of the United States that it will not fund, sponsor, promote, assist, or support the so-called 'transition' of a child from one sex to another,' Trump's order says, calling the treatments 'a stain on our Nation's history.' The states of Massachusetts, California, New York, Connecticut, Illinois, Delaware, Hawaii, Maine, Maryland, Michigan, Nevada, New Jersey, New Mexico, Rhode Island and Wisconsin, as well as the District of Columbia and Josh Shapiro in his capacity as Pennsylvania governor, filed suit. The lawsuit, filed against Trump, the Justice Department and Attorney General Pam Bondi, argues that the executive order conflicts with states' remit to regulate and police medicine and violates the 10th Amendment, which protects states' powers, and is in conflict with many state antidiscrimination laws. Nearly every major medical association endorses the availability of gender-affirming care for transgender young people, citing reductions in depression, substance abuse and suicide attempts. 'Empirical evidence has demonstrated that trans and nonbinary gender identities are normal variations of human identity and expression,' the American Medical Association has said. But the issue, and others related to transgender people, has animated conservatives. Trump has said he wants the 'official policy of the United States' to be that there are only two genders and has referred to being transgender as a 'falsehood.' The administration has moved to ban transgender service members from the military, relocate incarcerated transgender women into men's prisons and bar transgender people from using restrooms that align with their gender identity in federal buildings, among a slew of anti-trans measures, many of which have been challenged in court. After the January order, the lawsuit says, the Justice Department began 'intimidating providers into ceasing care through threats of civil and criminal prosecution.' 'These threats have no basis in law,' the complaint says. 'No federal law prohibits, much less criminalizes, the provision or receipt of gender-affirming care for transgender adolescents.' Puberty blockers temporarily inhibit sex hormones, such as estrogen and testosterone, and other hormone therapies introduce them to the body. Gender-affirming surgeries, such as breast reductions for transgender men, are rarely performed on minors. White House spokesperson Taylor Rogers said in an email that 'everyday Americans resoundingly support' the administration's actions. 'The President has the lawful authority to protect America's vulnerable children through executive action, and the Administration looks forward to ultimate victory on this issue,' she added. In June, the Supreme Court upheld a ban on gender-affirming care for minors in Tennessee.
