HSBC did not immediately respond to a Reuters request for comment
FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo
International news via Reuters:
HSBC is disbanding a division that serves small and medium-size companies in the U.S. affecting roughly 4,500 clients, the Wall Street Journal reported on Friday.
Most of the clients HSBC is letting go are domestic, rather than U.S. subsidiaries of international companies, according to the report.
HSBC did not immediately respond to a Reuters request for comment.
In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others.
The growing tensions come as Cubans confront the worst economic downturn in decades
Cars pass by Cuban and U.S. flags beside the U.S. Embassy in Havana, Cuba, May 13, 2024. REUTERS/Alexandre Meneghini/File Photo
International news via Reuters:
Cuba`s foreign ministry said on Friday it had issued a verbal warning to the top U.S. diplomat in Havana complaining of behavior it called “intervenionist,” the latest escalation as tensions grow between the two long-time foes.
Cuba said U.S. Chief of Mission Mike Hammer had incited “Cuban citizens to commit serious criminal acts, attack the constitutional order, or encourage them to act against the authorities,” calling his actions a violation of the Vienna Convention norms on diplomatic relations.
“The immunity he enjoys as a representative of his country cannot be used as cover for acts contrary to the sovereignty and internal order of the country to which he is accredited, in this case Cuba,” the statement said.
Hammer, a career U.S. diplomat who arrived in Cuba six months ago, has traveled the island widely to meet with political dissidents, raising the ire of the Cuban government, which accuses him of seeking to foment unrest.
The U.S. State Department defended Hammer`s actions.
“Chief of Mission Mike Hammer and the U.S. Embassy proudly represent President Trump by implementing an America First foreign policy and seeking accountability for the Cuban regime for its malign influence across the Americas,” a State Department official said.
“We will continue to meet with Cuban patriots, religious leaders, and those fighting for the freedoms of Cubans,” the official said.
The growing tensions come as Cubans confront the worst economic downturn in decades, a predicament the Cuban government blames on the Cold War-era U.S. embargo, a web of restrictions that impede financial transactions, trade, tourism and the import of fuel.
Cuba`s decision to formally chastise Hammer comes just days the U.S. diplomat said in a press conference in Miami that the Trump administration was preparing further sanctions against the communist-run nation.
Cuba has repeatedly criticized Hammer over months but has not impeded his travels across the island.
Reporting by Dave Sherwood; Editing by Alistair Bell
Ukraine’s economy cratered after Russia’s full-scale invasion in 2022, falling close to 30%
FILE PHOTO: The evening sun sets over the skyline near Khreshchatyk Street in Kyiv, amid Russia’s attack on Ukraine, March 29, 2024. REUTERS/Thomas Peter/File Photo
International news via Reuters:
Ukraine’s finance ministry said on Friday it would not be paying more than half a billion dollars due to holders of its GDP warrants, marking the first payment default since it created the instruments.
The war-ravaged country said it owes $665 million on June 2 to holders of the $3.2 billion worth of warrants, based on 2023 economic performance.
Last year, Ukraine’s parliament approved a payment moratorium on the GDP-linked securities from May 31.
“Ukraine remains committed to implementing a comprehensive, fair and equitable restructuring of the GDP-linked Securities,” it said in a statement, adding it must comply with debt targets outlined in its IMF programme and in line with the comparability of treatment with official lenders.
Advisory and legal representatives for the warrant holders did not immediately provide a comment.
Ukraine created the instruments – fixed income securities indexed to economic growth – to sweeten its 2015 debt restructuring. But their complex structure meant they had not been part of last year’s broader $20 billion restructuring.
Ukraine’s economy cratered after Russia’s full-scale invasion in 2022, falling close to 30%. And while its economy staged modest growth in 2023 and 2024, its gross domestic product remains below the pre-war level.
Finance Minister Serhii Marchenko described the warrants, with a payout linked to growth, as “designed for a world that no longer exists”.
Formal restructuring talks between Ukraine and warrant holders broke down in late April, with the two sides far from a deal. Chief debt negotiator Yuriy Butsa privately met with individual warrant holders in London earlier this month to prepare them for non-payment and emphasize that Ukraine would rather take time to get the right deal than rush to a quick deal before the deadline.
A cross-default clause with the country’s bonds was removed last year during restructuring, but the payment default threatens the years Butsa and his team have spent cultivating a positive relationship with investors.
Ukraine’s economy has been battered by Russia’s ongoing attacks, particularly on its energy infrastructure, and it remains heavily reliant on the United States and Europe for financial support as well as weapons and military equipment.
Its tumultuous relationship with U.S. President Donald Trump has cast doubt on the durability of that country’s support for Ukraine, particularly as peace talks with Russia drag on.
The next round of peace talks is scheduled to take place in Istanbul next week, but Ukraine has said it wants to see a document setting out Russia’s proposals for a peace deal before it sends a delegation.
Reporting By Libby George, Marc Jones and Olena Harmash; Editing by Hugh Lawson and Gareth Jones
Police have confirmed the sudden death of a man, after Police and Emergency vehicles were seen close to the golf course near the St George’s Club early this morning.
Police state that the death does not appear to be suspicious.
A police spokesperson confirmed “the sudden death of a male, who was found unresponsive on Khyber Pass near Wellington Back Road, St. George’s, around 6:50 a.m. on Friday, May 30, 2025.”
“An on call Doctor attended the scene and confirmed death shortly thereafter.”
“There do not appear to be any suspicious circumstances involved.”
“It is anticipated an autopsy will be conducted in due course.”
Prospect Primary will close in June. Today, teachers and students reflect on the school’s history
Prospect Primary is closing in June as part of education reform – but the teachers and students are making sure the school’s legacy will be remembered.
This morning, staff and students marched down Frog Lane, Devonshire, proudly singing the school’s song.
Prospect Primary’s final principal, Dr Holly Richardson, stepped out of the line to tell us that today is the school’s Leaders and Legacy Day.
“Today we had our walk”, Dr Richardson said. “We went to the original site of prospect Primary, where it opened in 1958, up at the police barracks.”
“We had a talk by Superintendent [James] Howard, because he was one of the students who attended when we were at the barracks.”
“The whole school has walked from the barracks here, singing the school song and just having a good time.”
At 2pm today (Friday), students will present a 45-minute play at the school, written by Dr Richardson, highlighting some of the history of Prospect Primary.
After major repairs, the historic Earl Cameron Theatre will re-open for bookings
A peek inside: The refurbished Earl Camerson Theatre, which seats nearly 400 people and was built in 1960. Photo supplied
Press release: The City of Hamilton is pleased to announce that the Earl Cameron Theatre at City Hall will reopen for bookings starting tomorrow, May 31st, following the completion of major repairs to its Heating, Ventilation, and Air Conditioning (HVAC) system. As a valued cultural asset in the heart of the City, the theatre plays an important role in supporting the arts and hosting a wide variety of performances and community events. Its recent closure was necessary to carry out significant remediation work and install replacement HVAC components to ensure the safety and comfort of all patrons, performers, and staff. “We understand the impact that the theatre’s closure has had on event organisers and the artistic community,” said City Engineer Patrick Cooper. “The HVAC system is critical to maintaining a high standard facility, and these upgrades were essential to restore full functionality and ensure an optimal experience for all users of the space.” The City sincerely apologizes for the inconvenience and disappointment the closure may have caused and thanks the public for its patience during the repair period. The Earl Cameron Theatre, located within the iconic City Hall building, boasts a seating capacity of up to 378 patrons and offers the adjoining City Hall foyer space with each rental. The venue has served as a central hub for pantomimes, recitals, comedy shows, theatre productions, lectures, galas, and corporate events since opening in 1960. Renamed in 2012 to honour Bermudian actor Earl Cameron, the theatre continues to be a cornerstone of Bermuda’s performing arts scene. The theatre is now fully operational and accepting bookings. Interested parties may contact the City’s Rentals Coordinator at veuerentals@cityhall.bm to inquire about availability or book online here.
In sports, from drama in the harbour to last-minute heroics on the football pitch, Bermuda’s athletes continue to deliver excitement both at home and overseas.
Currently, 372 building permits remain open with an average age of 165 days
A range of reforms that aim to streamline and modernise the island’s planning system were laid out in the House of Assembly this morning.
Diallo Rabain, Minister for the Cabinet Office and Digital Innovation, told parliamentarians that the time taken to navigate the planning system is a source of frustration for many residents.
He said 372 building permits remain open with an average age of 165 days owing to delays in the building permit process, with a significant number stemming from incomplete applications.
In a bid to restore confidence in the public service function, Minister Rabain outlined several improvement measures that his Ministry aims to implement including: boosting permit processing capability, a one-day permit review system for small-scale projects, better communication and service access, and the utilisation of AI tools to pre-screen applications for missing data.
National Security Minister Michael Weeks said residents should begin preparations for the hurricane season which starts on 1 June
NOAA hurricane satellite imagery. Photo: NOAA
An above average hurricane season has been predicted by forecasters with an expected 13-19 named storms.
Between six and 10 of those are likely to become hurricanes and three to five systems will attain major hurricane status, according to the Minister of National Security.
Updating the House of Assembly this morning, National Security Minister Michael Weeks said this outlook is driven by higher than average sea surface temperatures.
Accuweather, he said, aligns with NOAA’s predictions for the 2025 hurricane season, which begins on June the 1st ending November 30th, 2025.
The EMO will meet this month to assess government’s preparedness if and when a storm approaches the island. Minister Weeks says residents also ought to begin their preparations.
He encouraged every household to stock up on their hurricane supply kit.
Minister Weeks said, “This should include a two weeks supply of any necessary medications along with at least three days worth of non-perishable food and water.
“Flashlights, spare batteries and portable radio are essential items to remain informed and safe during a storm.”
Minister Weeks further encouraged residents to keep abreast of accurate, up to date information on impending storms via the Government’s emergency radio station 100.1 FM.
The event will also recognise new President of BIOS, Dr. Craig Carlson who will succeed Dr. Bill Curry in August
Dr. Craig Carlson, new President of BIOS. Photo: Bermuda Broadcasting Company
The Bermuda Institute of Ocean Sciences also known as B.I.O.S. will celebrate a change in leadershi with a special event next month about their past work and their future including the pivotal partnership with Arizona State University.
The event will also recognise new President of BIOS, Dr. Craig Carlson who will succeed Dr. Bill Curry in August.
For more information on tickets for the event on Wednesday, June 11th, contact the Royal Bermuda Yacht Club at 295-2214.
Pledging to boost defence spending by NZ $9 billion (US $5 billion) over the next four years
FILE PHOTO: New Zealand’s Defence Minister Judith Collins speaks at the Five Power Defence Arrangements Defence Ministers? Joint Press Conference Meeting on the sidelines of the Shangri-La Dialogue in Singapore May 31, 2024. REUTERS/Caroline Chia/File Photo
International news via Reuters:
New Zealand is seeking to expand Asia-Pacific military deployments in its quest to show it was now “pulling our weight” with increased spending on its armed forces, the South Pacific nation’s defence minister said in Singapore on Friday.
Defence minister Judith Collins raised the prospect of welcoming increased warship visits to the country, deepening joint training and other cooperative efforts with its traditional defence partners including ally Australia, the United States, Singapore, Japan, Britain and the Philippines.
“So we’re open for business, we’re back in the world and we’re pulling our weight,” Collins told Reuters on the sidelines of the Shangri-La Dialogue defence meeting in Singapore.
The New Zealand government announced in April that it would boost defence spending by NZ$9 billion ($5 billion) over the next four years, with the aim of nearly doubling spending to 2% as a share of gross domestic product in the next eight years amid growing international tensions.
The new spending is a significant boost to the defence budget of just under NZ$5 billion in 2024/25, and follows its first national security review in 2023.
The review called for more military spending and stronger ties with Indo-Pacific nations to tackle issues of climate change and strategic competition between the West, and China and Russia.
The USS Blue Ridge, the command ship of the U.S. Pacific Fleet, visited Wellington earlier this month and further visits from partners could be expected, Collins said. The ship was just the third U.S. warship to visit in 40 years.
When asked about Chinese concerns at New Zealand’s more assertive military posture, she said Beijing realised Wellington had “actually got a spine”, but “I don’t think China stays awake at night worrying about us.”
“I don’t think we’re any threat to China, or anyone else really,” Collins said, describing relations with China, an important trading partner, as “very mature”.
Regional military attaches and analysts say that after years of relative neglect, New Zealand still had to improve its ability to sustainably project power given its small, ageing navy and air force but supporting its traditional relationships were key.
Nuclear-free since the 1980s, New Zealand maintains an independent foreign policy but remains part of the Five Eyes intelligence sharing network with the United States, Britain, Australia and Canada.
Deployments of its four new Boeing P-8 Poseidon maritime patrol aircraft are being closely watched, given how they can help other countries plug gaps in the hunt for Chinese submarines, analysts say.
Collins said New Zealand and Australian pilots now had the ability to fly each other’s P-8 and transport planes – a sign of growing “interoperability” in action.
Collins said the P-8s had already flown up towards Canada and she expected further patrols in the South China Sea and Indian Ocean.
“I think you’ll see quite a lot of that,” she said.
“We go everywhere. Everywhere where we’re wanted we go, if we can.”
Reporting by Greg Torode in Singapore; editing by Shri Navaratnam and Raju Gopalakrishnan
Move comes after scores injured in devastating van crash at a parade in Liverpool
FILE PHOTO: A Police officer stands guard on the Champs Elysees avenue, next to the Arc de Triomphe, in Paris, France, April 26, 2025. REUTERS/Abdul Saboor/File Photo
International news via Reuters:
Paris will deploy 5,400 police officers for Saturday’s UEFA Champions League final between Paris Saint-Germain and Inter Milan, police chief Laurent Nunez said on Friday in an interview with French broadcaster Cnews.
Although the match will be held in Munich, a PSG victory would be expected to spark celebrations in the club’s home city which could escalate into disturbances.
In light of the incident in Liverpool earlier this week in which a car ploughed into soccer fans, Nunez said traffic around the Arc de Triomphe – one of the city’s best-known landmarks – will be blocked from midday Saturday, with the Champs-Élysées boulevard and nearby streets also closed that evening.
PSG’s win over Arsenal earlier this month, which secured their place in the final, sparked a night of unrest in Paris, with 47 people arrested and three others injured after being hit by a car.
“From 6 p.m. (1600 GMT) this Saturday, there will be no more traffic on the Champs-Élysées and in the perpendicular streets,” Nunez said.
“Individuals who come solely to commit vandalism and loot businesses, that’s a pattern we’re obviously working to systematically put an end to. That will also be the case on Saturday evening,” he added.
“We will obviously be extremely firm. As soon as there is damage, attacks on law enforcement, there will be interventions.”
Reporting by Charlotte Van Campenhout; Editing by David Holmes
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