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India Detains Three Sanctioned Tankers Linked to Iran

India has detained three oil tankers tied to Iran and already under U.S. sanctions, marking a notable escalation in its maritime enforcement efforts. The vessels were intercepted in Indian waters earlier this month after authorities identified irregularities in their operations and documentation. Officials familiar with the situation say the tankers were suspected of participating in ship‑to‑ship transfers designed to obscure the origin of their cargo. Such practices have drawn increasing scrutiny as India strengthens monitoring of its coastal zones and aligns more closely with global efforts to curb sanctions evasion. The detentions also come at a moment of deepening strategic cooperation between New Delhi and Washington. While India maintains an independent foreign policy, the move signals a firmer stance on illicit maritime activity and a willingness to enforce international compliance standards within its jurisdiction.
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TD to slash jobs after disappointing earnings report


The Toronto-Dominion Bank (TD) announced that it will cut an unspecified number of jobs as part of a restructuring plan to reduce costs and improve efficiency. The move comes after the bank reported lower-than-expected earnings for the fourth quarter of 2023, amid rising expenses and higher provisions for credit losses.

According to its financial results, TD earned $3.2 billion, or $1.72 per share, in the quarter ended Oct. 31, down from $3.5 billion, or $1.87 per share, a year earlier. Analysts had expected earnings of $1.79 per share, according to Refinitiv. The bank’s revenue increased by 4 per cent to $11.8 billion, but its expenses rose by 7 per cent to $6.9 billion. The bank also set aside $1.1 billion for bad loans, up from $891 million in the same period last year.

TD’s chief executive officer Bharat Masrani said the bank is facing “a challenging and uncertain environment” due to the COVID-19 pandemic and its impact on the economy. He said the bank is taking “decisive actions” to adapt to the changing conditions and position itself for long-term growth. He did not provide details on how many jobs will be affected by the restructuring, but said the bank will offer support and transition assistance to the impacted employees.

TD’s disappointing earnings contrast with the strong performance of its peers, such as Royal Bank of Canada, Canadian Imperial Bank of Commerce, Bank of Montreal and National Bank of Canada, which all beat analysts’ estimates and raised their dividends in the fourth quarter. TD was the only one of the Big Six banks that did not increase its dividend, keeping it at 79 cents per share.

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