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TD Bank Seeks to Raise $14 Billion in Schwab Stake Exit

Toronto-Dominion Bank expects to raise about $14 billion through the sale of its entire stake in Charles Schwab Corp. as part of a corporate overhaul in the wake of its historic US money-laundering settlement. Toronto-Dominion will sell 184.7 million shares of Schwab’s common stock, representing 10.1% economic ownership, it said in a statement Monday. Schwab has agreed to buy back $1.5 billion of its shares from TD. Canada’s second-largest bank reached a settlement in October with the US Department of Justice and bank regulators over its failure to catch money laundering at several American branches. Toronto-Dominion agreed to pay almost $3.1 billion in fines and other penalties and last month said it was accelerating its chief executive officer-transition process, tapping Raymond Chun to step into the role two months earlier than initially planned. “As part of our strategic review, we have been evaluating capital allocation and have made the decision to exit our Schwab investment,” Chun said in the statement. Toronto-Dominion expects to generate about $14 billion in proceeds through the share sale, Chun told bank employees in an internal memo Monday morning seen by Bloomberg. “In just under five years, this investment has generated a very strong return, and we believe this is the right time to reallocate the capital,” he said in the memo. The Canadian lender acquired its ownership stake in 2020 as part of a transaction to sell its interest in online brokerage TD Ameritrade Holding Corp. to Schwab. It sold 40.5 million Schwab shares in August, trimming its previous 12.3% stake to raise about $2.5 billion to help cover the cost of fines in the money-laundering probes. Toronto-Dominion said it plans to use C$8 billion of the proceeds to repurchase its stock, and will invest the balance of the proceeds in the company’s businesses. A representative for Schwab declined to comment, citing regulatory reasons.

Chun has previously said Toronto-Dominion’s ownership of Schwab shares is separate from its agreement with the firm to make sweep-deposit accounts available to Schwab clients. With sweep programs, uninvested cash in brokerage accounts is automatically transferred into higher-interest accounts.

nn: what they forget to tell you is the reason they pay slightly higher rates is because of much higher risk. its party time for now. but another stock market, real estate, high tech wipe out is coming.
they have yet to explain the tens of billions of drug money they laundered…. by accident….
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Trump says he spoke to Putin on ending Ukraine war

United States President Donald Trump told New York Post aboard Air Force One that he had already spoken to his Russian colleague Vladimir Putin on the phone. Trump revealed that Putin expressed willingness to end the conflict in Ukraine. “He wants to see people stop dying … All those dead people. Young, young, beautiful people. They’re like your kids, two million of them – and for no reason,” stated Trump. The US president did not want to say how many times he spoke to Putin. Both before and after his return to the White House, Trump repeatedly vowed he would bring the war in Ukraine to an end and pinned responsibility for the conflict’s outbreak on his predecessor Joe Biden.

nn: everybody will soon go home unhappy
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Israeli military says it is expanding West Bank operation

JERUSALEM, Feb 9 (Reuters) – Israeli security forces have expanded a military operation to Nur Shams in the West Bank, a military spokesperson said on Sunday, announcing the expansion of a military operation in the occupied territory. The military, police and intelligence services launched a counter-terrorism operation in Jenin on January 21, described by officials as a “large-scale and significant military operation”. The Israeli military said several militants had been killed and a number of wanted suspect detained in the operation.

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Iran supreme leader criticizes proposed nuclear talks with US, upending push to negotiation

DUBAI, United Arab Emirates (AP) — Iran’s supreme leader said Friday that negotiations with America “are not intelligent, wise or honorable” after President Donald Trump floated nuclear talks with Tehran. Ayatollah Ali Khamenei also suggested that “there should be no negotiations with such a government,” but stopped short of issuing a direct order not to engage with Washington. Khamenei’s remarks upend months of signals from Tehran to the United States that it wanted to negotiate over its rapidly advancing nuclear program in exchange for the lifting of crushing economic sanctions worth billions of dollars. Following Khamenei’s comments, the Iranian rial sunk to a record low of 872,000 rials to $1 in aftermarket trading.What happens next remains unclear, particularly as reformist President Masoud Pezeshkian promised as recently as Thursday to enter into a dialogue with the West.

Khamenei’s remarks to air force officers in Tehran appeared to contradict his own earlier remarks in August that opened the door to talks. However, the 85-year-old Khamenei has always been careful with remarks about negotiating with the West. That includes balancing the demands of reformists within the country who want the talks against hard-line elements within Iran’s theocracy, including the paramilitary Revolutionary Guard. Khamenei noted that Trump unilaterally withdrew from the earlier nuclear deal under which Iran drastically limited its enrichment of uranium and overall stockpile of the material, in exchange for crushing sanctions being removed. “The Americans did not uphold their end of the deal,” Khamenei said. “The very person who is in office today tore up the agreement. He said he would, and he did.” He added: “This is an experience we must learn from. We negotiated, we gave concessions, we compromised— but we did not achieve the results we aimed for. And despite all its flaws, the other side ultimately violated and destroyed the agreement.” It’s not clear what sparked Khamenei’s remarks. However, they come after Trump suggested he wanted to deal with Tehran, even while signing an executive order to reimpose his “maximum pressure” approach to Iran on Tuesday.“I’m going to sign it, but hopefully we’re not going to have to use it very much,” he said from the Oval Office. “We will see whether or not we can arrange or work out a deal with Iran.”

“We don’t want to be tough on Iran. We don’t want to be tough on anybody,” Trump added. “But they just can’t have a nuclear bomb.”

Trump followed with another online message on Wednesday, saying: “Reports that the United States, working in conjunction with Israel, is going to blow Iran into smithereens, ARE GREATLY EXAGGERATED.” “I would much prefer a Verified Nuclear Peace Agreement, which will let Iran peacefully grow and prosper,” he wrote on Truth Social. “We should start working on it immediately, and have a big Middle East Celebration when it is signed and completed.” He did not elaborate.

As recently as Thursday, Pezeshkian suggested Iran could open itself up to even more inspections from the United Nations’ nuclear watchdog, the International Atomic Energy Agency.“They (can) come and inspect one hundred times more since we are not supposed to go after” a nuclear weapon, Pezeshkian told foreign diplomats. Iranian diplomats have long pointed to Khamenei’s preachings as a binding fatwa, or religious edict, that Iran won’t build an atomic bomb. Iran has long insisted its nuclear program is for peaceful purposes. However, it now enriches uranium to 60% purity — a short, technical step from weapons-grade levels of 90%. Iranian officials increasingly suggest Tehran could pursue an atomic bomb. U.S. intelligence agencies assess that Iran has yet to begin a weapons program, but has “undertaken activities that better position it to produce a nuclear device, if it chooses to do so.

NN: Iran is playing a dangerous game here. Which under Trump could end up in the regimes total destruction.

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US okays potential arms sale of over $7B to Israel

Pentagon’s Defense Security Cooperation Agency (DSCA) revealed in a statement on Friday that the State Department approved a potential sale of its military equipment to Israel, valued at over $7 billion. The DSCA shared that the Israeli government requested munitions, guidance kits, fuzes, and munitions support, alongside other related equipment, worth $6.75 billion, while also asking for AGM-114 Hellfire missiles, the cost of which stands at $660 million. “The United States is committed to the security of Israel, and it is vital to US national interests to assist Israel to develop and maintain a strong and ready self-defense capability. This proposed sale is consistent with those objectives,” the DSCA commented.

nn:Talk about rubble,. How about Iran’s nuclear weapons sights for a start….
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EU open to lowering tariffs on US cars

Chair of the European Parliament’s Committee on International Trade Bernd Lange told the Financial Times in an interview posted on Friday that the European Union is ready to offer to cut tariffs on cars coming from the United States in an effort to avoid a trade war with US President Donald Trump. “We can try to have a deal before escalating costs and tariffs,” he commented, adding that the import tax, which now stands at 10%, could fall closer to the 2.5% that Washington currently charges for cars imported from the EU. Officials in Brussels told the news outlet that the bloc’s car sector would back the move. Apart from this, the EU would offer to buy larger volumes of liquefied natural gas and military equipment from the US, according to Lange. In the past couple of weeks, Trump has repeatedly complained about the US-EU trade deficit, vowing to slap tariffs on the bloc. Lange cautioned that the EU would fight back, potentially targeting US tech and financial firms, should negotiations fall through

nn add the eu to the list of countries caving in to trumps demands
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Trump signs order sanctioning ICC…. Netanyahu thanks Trump for ICC sanction….. UN calls on Trump to reverse sanctions on ICC

United States President Donald Trump has signed an executive order imposing sanctions on the International Criminal Court (ICC) due to the organization having engaged in “illegitimate and baseless actions targeting America and our close ally Israel.” Trump alleged in the order that the ICC “abused” its power by issuing “baseless” arrest warrants against Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant. Trump further argued that the court has no jurisdiction over the US or Israel, seeing as how “neither country is party to the Rome Statute or a member of the ICC,” nor did any of the two countries ever acknowledge ICC’s jurisdiction. The order imposes financial and visa restrictions on individuals and their families who aid in ICC investigations of US citizens or its allies. The US will place “tangible and significant consequences on those responsible for the ICC’s transgressions, some of which may include the blocking of property and assets, as well as the suspension of entry into the United States of ICC officials, employees, and agents, as well as their immediate family members,” the order reads.

Netanyahu thanks Trump for ICC sanction

Israeli Prime Minister Benjamin Netanyahu’s office praised US President Donald Trump’s order targeting the International Criminal Court (ICC) due to its probe for Gaza-related crimes. “Thank you, President Trump, for your bold ICC Executive Order. It will defend America and Israel from the anti-American and antisemitic corrupt court that has no jurisdiction or basis to engage in lawfare against us,” the office added on Friday. Previously, Trump signed an executive order sanctioning the ICC for “illegitimate and baseless actions targeting America and our close ally Israel,” following the court’s arrest warrant for Netanyahu and Former Defense Minister Yoav Gallant.

UN calls on Trump to reverse sanctions on ICC

United Nations High Commissioner for Human Rights Office on Friday urged United States President Donald Trump to revoke sanctions imposed against the International Criminal Court for issuing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu. The court was “fundamental to ensuring justice and achieving accountability for the most serious crimes, whether committed in Ukraine, Sudan, Myanmar, occupied Palestinian territory, or anywhere else,” office’s spokesperson Ravina Shamdasani told AFP, stressing that the court should be able to “undertake its independent work.”

NN: Notice how they ignore Hamas and Iran

 

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Oil lowest since December after Trump’s remarks

Crude oil prices declined on Thursday and hit their lowest level since December last year after United States President Donald Trump stated that his administration intended to reduce oil prices. Also, the latest US crude inventories report showed that crude oil stockpiles in the country rose by 8.7 million barrels.

West Texas Intermediate (WTI) for deliveries in March dropped to  $70.50 per barrel. Brent for May settlement dropped to $73.70 per barrel.

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Trump: We’ll drive oil prices down……. New Interior Secretary Advances Trump Agenda, Signs 6 Orders

United States President Donald Trump insisted on Thursday, appearing at the National Prayer Breakfast for the second time today, that his administration will drive the price of oil down, after which “everything will follow.” “We gotta bring the country back,” he underlined. Continuing his speech, Trump said that he had “great elections.” “We’ve won all seven swing states. We’ve won the popular vote by millions of people,” he proclaimed.

New Interior Secretary Advances Trump Agenda, Signs 6 Orders

A statement posted on the U.S. Department of the Interior’s (DOI) website this week announced that U.S. Secretary of the Interior Doug Burgum “advanced President Trump’s agenda by signing six Secretary’s Orders”. The statement outlined that, as part of these orders,

the DOI “will immediately identify all emergency and legal authorities available to facilitate the identification, permitting, leasing, development, production, transportation, refining, distribution, exporting and generation of domestic energy resources and critical minerals”.  

The DOI will also “identify all emergency and other legal authorities available to expedite the completion of all authorized and appropriate infrastructure, energy, environmental, and natural resources projects” the statement noted, adding that the secretary “will report the use of such authorities and submit recommendations for exercising certain authorities as necessary to the President”. In addition, the statement revealed that Burgum is directing “a review of all appropriations from the Inflation Reduction Act and Infrastructure Investment and Jobs Act to ensure consistency with President Trump’s energy dominance policies”.

The DOI’s statement also announced that the DOI “will resume taking all actions available to expedite the leasing of the Outer Continental Shelf for oil and gas exploration and production” and highlighted that one order “mandates the Interior Department to take immediate steps that will reduce living costs for American families”.

Another order “directs the Department to take all necessary steps to unleash the State of Alaska’s abundant and largely untapped supply of natural resources”, the statement pointed out. “Today marks the beginning of an exciting chapter for the Department of the Interior,” Burgum said in the statement. “We are committed to working collaboratively to unlock America’s full potential in energy dominance and economic development to make life more affordable for every American family while showing the world the power of America’s natural resources and innovation,” he added.

“Together, we will ensure that our policies reflect the needs of our communities, respect tribal sovereignty, and drive innovation that will keep the U.S. at the forefront of energy and environmental leadership,” he continued.

In a statement sent to Rigzone this week, National Ocean Industries Association (NOIA) President Erik Milito said, “NOIA strongly supports Secretary Doug Burgum’s decisive actions to strengthen American energy security, reinforce national security, and unleash the full potential of the U.S. offshore energy industry”.

“By addressing burdensome regulatory barriers … these actions will align U.S. energy policy with the nation’s current and future needs. They will enhance energy security, bolster national defense, grow our economy, and keep energy affordable for every household and business, reducing reliance on foreign adversaries,” he added.

“By restoring regulatory certainty, attracting investment, and creating high-quality jobs while maintaining high levels of environmental stewardship, these reforms will strengthen America’s position as the global energy leader,” Milito went on to state. “NOIA looks forward to working with Secretary Burgum and DOI leadership to implement these critical policies and secure a stronger offshore energy future,” he continued.

NN drill babby drill
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Iran Urges OPEC To Unite Against Trump Sanctions

Iran’s President Masoud Pezeshkian has urged OPEC members to unite against possible U.S. sanctions after U.S. President Donald Trump said he will drive Tehran’s oil exports to zero.

Iranian crude oil exports currently stand at ~1.5 million barrels per day, with the majority going to China.

Back in July,  Trump promised in his Republican National Convention speech to reduce Iranian oil exports. He said he had previously achieved this objective by linking it to trade; “I told China and other countries, if you buy from Iran, we will not let you do any business in this country and we will put tariffs on every product you do send in of 100% or more.” According to StanChart, Iranian oil is likely to play a key role in Trump’s wider China trade policy agenda. China has been importing Iranian oil indirectly via proxies. According to StanChart, crude oil imports from Malaysia clocked in at 1.456 million barrels per day (mb/d) in June, the second-highest monthly average on record. The commodity experts pointed out that Malaysia’s crude oil output is about 0.35 mb/d while exports usually average 0.2 mb/d, implying that the vast majority of the oil that China imports from Malaysia was not produced in the country. According to multiple media sources, the transfers involve a dark fleet consisting of a group of aging tankers that rarely have an identifiable insurer. These transfers can be hazardous, including the danger of spills and collisions, with so many low-quality tankers massed in a narrow trade route with their transponders off. For instance, two such vessels caught fire off Singapore after a collision in July.

Nick Note: let’s get real here, everyone is getting hysterical over trump putting sanctions on I ran. Which he keeps saying he really really doesn’t want to do. but Iranian oil exports to mostly China is only 1.5 million barrels a day.Iit’s nothing it’s not even a factor in the marketplace. Its is a rounding error at best. The Russians are sneaking out enough extra oil to cover any  Iranian loses. Us oil producers are going Gaga crazy to increase production.  Canada wants to get  oil as much as it can as soon as you can to market. and so does Mexico. Inventory has been building the last three weeks.  We are out of the prime time heating oil season. And for sure Trump does not want to go to war with Iran. But he’s as serious as a heart attack when he tells them look you can do  no nukes.  If you get a nuke we’re going to blast you to smithereens.  Israel is like an attack dog that smells  raw meat. They would love nothing better than to get the go ahead to  send them to their virgins.  So to be clear here Iran oil is not coming out of the market.   Canadian Oil is not going to come out of the market. Mexican oil will be delivered.