BP names US oil and gas veteran Dave Hager as non-executive director
Hager held various roles at U.S.-based Devon Energy (DVN.N), opens new tab, including as CEO between 2015 and 2021 and as executive chair between 2021 and 2023.
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The Guardian
32 minutes ago
- The Guardian
US halts weapons shipments to Ukraine over fears stockpiles are too low
The US is halting some shipments of weapons to Ukraine amid concerns that its own stockpiles have declined too much, officials said Tuesday, a setback for the country as it tries to fend off escalating attacks from Russia. Certain munitions were previously promised to Ukraine under the Biden administration to aid its defences during the more than three-year-old war. The pause reflects a new set of priorities under President Donald Trump and came after defence department officials scrutinised US stockpiles and raised concerns. 'This decision was made to put America's interests first following a review of our nation's military support and assistance to other countries across the globe,' White House spokesperson Anna Kelly said in a statement. 'The strength of the United States Armed Forces remains unquestioned – just ask Iran.' That was a reference to Trump recently ordering US missile strikes against nuclear sites in Iran. The Pentagon review determined that stocks were too low on some weapons previously pledged, so pending shipments of some items won't be sent, according to a US official who spoke on condition of anonymity to provide information that has not yet been made public. The defence department did not provide details on what specific weapons were being held back. 'America's military has never been more ready and more capable,' spokesperson Sean Parnell said, adding that the major tax cut and spending package moving through Congress 'ensures that our weapons and defence systems are modernised to protect against 21st century threats for generations to come.' The halt of some weapons from the US is a blow to Ukraine as Russia has recently launched some of its biggest aerial attacks of the war, in an escalating bombing campaign that has further dashed hopes for a breakthrough in peace efforts championed by Trump. Talks between the sides have ground to a halt. The US stoppage was first reported by Politico. To date, the US has provided Ukraine more than $66bn worth of weapons and military assistance since Russia invaded its neighbour in February 2022. Over the course of the war, the US has routinely pressed for allies to provide air defence systems to Ukraine. But many are reluctant to give up the hi-tech systems, particularly countries in eastern Europe that also feel threatened by Russia. Trump met with Ukrainian leader Volodymyr Zelenskyy on the sidelines of the Nato summit last week and had left open the possibility of sending Kyiv more US-made Patriot air defence missile systems, acknowledging they would help the Ukrainian cause. 'They do want to have the antimissile missiles, OK, as they call them, the Patriots,' Trump said then. 'And we're going to see if we can make some available. We need them, too. We're supplying them to Israel, and they're very effective, 100% effective. Hard to believe how effective. They do want that more than any other thing.' Those comments reflect a change of thinking about providing weapons to Ukraine across the administration in recent months. In testimony before lawmakers in June, defence secretary Pete Hegseth said he had moved quickly to quash wasteful programmes and redirect funding to Trump's top objectives. Hegseth said a negotiated peace between Russia and Ukraine, which has been promoted for months by Trump, makes America look strong, even though Moscow is the aggressor in the conflict. He also said the defence budget includes hard choices and 'reflects the reality that Europe needs to step up more for the defence of its own continent. And President Trump deserves the credit for that.' The defense secretary told lawmakers last month that some US security spending for Ukraine was still in the pipeline, without providing details. But he said such assistance – which has been robust for the past two years – would be reduced.
Reuters
an hour ago
- Reuters
Del Monte Foods seeks buyer as it initiates US bankruptcy proceedings
July 1 (Reuters) - Del Monte Foods kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the United States on Tuesday under an agreement with certain key lenders, the company said in a statement. The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that it intends to remain open and continue operations throughout the bankruptcy. The 135-year old company hosts names like canned fruits and vegetables brand Del Monte, College Inn, under which it sells broth and stocks, and tea brands like Joyba. It listed estimated assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the New Jersey bankruptcy court, while the number of creditors is estimated between 10,000 and 25,000. "This is a strategic step forward for Del Monte Foods. After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods," CEO Greg Longstreet said. Certain of its non-U.S. subsidiaries are not included in the Chapter 11 proceedings and continue to operate as usual, Del Monte Foods said.
The Independent
an hour ago
- The Independent
US, Indo-Pacific partners agree to strengthen maritime, critical minerals cooperation
The United States. Australia, India and Japan have agreed to expand their cooperation on maritime security in the Indo-Pacific and further collaborate on supplies of critical minerals and rare earths that are key components of high-tech production. The foreign ministers of the four countries, known as the 'Quad,' met in Washington on Tuesday as the Trump administration seeks to expand U.S. influence in the Indo-Pacific to compete with a rising China amid tensions with partners over trade and defense issues. In a joint meeting with his three colleagues, Secretary of State Marco Rubio said the Quad must be a 'vehicle for action' that goes beyond statements of intent and stressed that commerce and trade will be critical to ensuring the group's relevance in the future. To that end, the four announced in a statement the creation of a 'Quad Critical Minerals Initiative' that aims 'to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains.' The statement did not provide details of the initiative. 'We are deeply concerned about the abrupt constriction and future reliability of key supply chains, specifically for critical minerals,' they said. 'This includes the use of non-market policies and practices for critical minerals, certain derivative products, and mineral processing technology.' The statement did not mention China by name, but Chinese domination of the critical minerals supply chain has long been a concern of the U.S. and others. The ministers expressed specific concern about rising tensions in the East and South China Seas, where Beijing has become increasingly assertive of maritime and territorial claims that are rejected by its smaller neighbors. 'We reiterate our strong opposition to any unilateral actions that seek to change the status quo by force or coercion,' they said. 'We express our serious concerns regarding dangerous and provocative actions, including interference with offshore resource development, the repeated obstruction of the freedoms of navigation and overflight, and the dangerous maneuvers by military aircraft and coast guard and maritime militia vessels, especially the unsafe use of water cannons and ramming or blocking actions in the South China Sea.' The ministers also condemned North Korea for continuing to launch ballistic missiles, expand its nuclear weapons program and engage in malicious cyberactivity. In a veiled reference to North Korean support for Russia in its war against Ukraine, they expressed 'deep concern about countries that are deepening military cooperation with North Korea, which directly undermines the global nonproliferation regime.'
