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The Federal Reserve accepted a total of $387 million from four counterparties in its fixed-rate reverse repurchase operations.Market news: EDF (Électricité de France) and Centrica (British energy company) are close to reaching an agreement with the UK government on a draft deal to extend the operating life of the Sizewell B nuclear power plant by 20 years.On June 11, US President Trump told reporters at the White House, "Weve been shipping millions of barrels of oil out of Iran. Every night, were shipping that oil out." He added, "Millions of barrels of oil have been shipped out, which is why the price is now $85 to $90 a barrel, not $250." Trump also stated that fuel prices would immediately drop once the war ended. When asked about Trumps remarks, US Energy Secretary Wright said he was unaware of any US oil shipments from Iran.U.S. Treasury Secretary Bessenter: The U.S. is undermining procurement networks that support Iran.On June 11, local time, the U.S. Central Command stated that on June 10, local time, the U.S. military disabled an oil tanker in the Gulf of Oman on June 9 for violating blockade measures. The statement said the tanker was attempting to transport Iranian oil and, after repeatedly ignoring U.S. military instructions, a U.S. aircraft used precision-guided munitions to strike it, rendering it unable to navigate. The U.S. Central Command stated that since the blockade began on April 13, the U.S. military has disabled eight oil tankers that violated regulations, diverted 134 vessels that cooperated with inspections, and allowed 42 ships carrying humanitarian aid to pass.

The Australian Authority Suspends Orders For Two Permanent Investment Funds

Charlie Brooks

Nov 25, 2022 14:27

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Friday, the Australian securities regulator ordered a unit of asset management firm Perpetual Ltd to temporarily halt promoting or delivering two products to individual investors due to elevated market risks.


Perpetual is aiming to conclude a deal with EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners, while being compelled by the court to launch its own takeover proposal for rival Pendal Group.


The Australian Securities & Investments Commission (ASIC) has ordered Perpetual Investment Management's Perpetual Pure Microcap Fund and Perpetual Geared Australian Share Fund to halt distributing interest and giving advice to retail investors for 21 days.


According to the regulator, the portfolios of the funds are exposed to extreme market volatility and carry substantial risks, increasing the potential that investors would sustain enormous losses.


"ASIC issued the interim measures to protect retail investors from engaging in funds that may not be appropriate for their financial objectives, circumstances, or needs," the regulator noted.


"The Australian Securities and Investments Commission is concerned that Perpetual did not appropriately consider these features and risks when choosing the wide target markets for the products."


The government expects Perpetual to take "immediate measures" to ensure compliance.


Reuters requested a response from Perpetual but did not receive a prompt reply.

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