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Author: openjargon

  • Ukraine will soon receive new hybrid tanks built on powerful Cold-War-era equipment

    A Leopard 2A6 tank is seen in a forested training site in Lithuania.
    Lithuania has been helping Ukraine to repair its Leopard 2 tanks after they were damaged in the war against Russia.

    Alexander Welscher/picture alliance via Getty Images

    • Ukraine is set to receive a hybrid air defense tank from Germany.
    • It consists of a Skyranger turret mounted on a Leopard 2 chassis, per arms manufacturer Rheinmetall.
    • This comes as both Russian and Ukrainian armies struggle against exploding drones.

    Ukraine's war effort may soon get a boost from a new hybrid tank that merges a Cold War-era tank chassis with an advanced air defense system.

    Rheinmetall, a German arms manufacturer, revealed in a media release on Monday that the new design consists of a Skyranger turret mounted on a Leopard 2 chassis.

    Björn Bernhard, Head of Land Systems at Rheinmetall, hinted to German media outlet Bild that more such hybrid tanks could be in the works.

    "There are still a lot of Leopard 1 battle tanks on whose chassis we could put the Skyranger turret with the 35mm machine gun," Bernhard told Bild.

    https://platform.twitter.com/widgets.js

    According to Rheinmetall, the new system "offers an optimum combination of mobility, protection, flexibility and precision to meet the growing requirements of challenging threat scenarios in the near and closer range."

    Amalgamations of newer military hardware with aspects of older technology have been rolled out on the Ukrainian battlefield. Ukraine has been deploying the "FrankenSAM," a hybrid air defense system that combines US missiles with Soviet launchers.

    The new tank design comes as both Ukraine's and Russia's militaries have been grappling with the overwhelming presence of exploding drones, which fly into military vehicles and explode or burst into flames.

    Even the most powerful tanks need to be protected by cage armor. Both armies have adopted the practice of welding "cope cages" to tanks to try to prevent drone attacks.

    Russia has also taken to installing metal tent-like structures on tank roofs to protect against anti-tank fire. Also called "turtle" tanks, the metal sheets cover the tanks so extensively that they can barely turn their guns, as seen in a video uploaded by the open-source intelligence Telegram channel CyberBoroshno.

    However, makeshift armor is not always effective. Video footage posted on May 6 by the 8th Separate Mountain Assault Battalion shows Russian tanks sporting "cope cages" being hit and destroyed by Ukrainian drones.

    Meanwhile, Ukraine's supply of Leopard 2 tanks from Germany is also dwindling.

    Sebastian Schäfer, an economist and member of Germany's Green Party, wrote a letter to weapons manufacturers, urging them to improve the repair process and supply of parts for the damaged tanks, per German outlet Der Spiegel in a report on January 2.

    Rheinmetall didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

    Read the original article on Business Insider

  • Jon Stewart says the POTUS race is boiling down to Biden and Trump accusing the other of ‘having soup where there should be brain’

    Jon Stewart.
    Jon Stewart hit at both presidential candidates on Monday.

    The Daily Show

    • Jon Stewart came out swinging on Monday about how he thinks the POTUS race has devolved.
    • Stewart said it's now "boiled down to each candidate accusing the other of having soup where there should be brain."
    • Biden and Trump are slated to go head-to-head in a debate at CNN's Atlanta studio on June 27.

    Jon Stewart isn't mincing words about how he thinks the 2024 presidential race has devolved into mud-slinging about the state of each candidate's cognitive abilities.

    In his Monday monologue on "The Daily Show," Stewart kicked off his segment by giving a "quick state of play."

    "I guess the election has basically boiled down to each candidate accusing the other of having soup where there should be brain," Stewart quipped.

    Stewart, 61 years old, then went on to do something that got him plenty of flak back in February when he first started doing Mondays at the Comedy Central show: He called out both President Joe Biden and former President Donald Trump for their advanced ages.

    Biden is 81, and Trump is 78.

    "For instance, for President Biden, it is his habit of seemingly staring at what can only be considered ghosts or out-of-frame paratroopers," Stewart said as an embarrassing clip of Biden appearing to wander off at the G7 summit played. "And then when he's pulled back into frame, somehow giving the impression someone has just quantum leaped into his body."

    Stewart also slammed Trump, commenting on how Trump recently crowed about having great cognitive abilities at a GOP event.

    "The case he's making to the American public is that he's the sharpest tool in the shed. See if you can find the flaw in his logic just one sentence later," Stewart said.

    The show then played a clip of Trump bragging about acing a cognitive test — then getting the name of the doctor who gave him that test wrong.

    "I took a cognitive test, and I aced it. Doc Ronny — Doc Ronny Johnson," Trump said, garbling then-White House physician Ronny Jackson's name. "Does everyone know Ronny Johnson, congressman from Texas? He was the White House doctor."

    "He got the guy's name wrong on his cognitive test," Stewart said, laughing. "I don't even know what to say."

    Stewart, in a February episode of "The Daily Show," also expressed his concern about the candidates' advanced ages.

    "The stakes of this election don't make Donald Trump's opponent less subject to scrutiny. It actually makes him more subject to scrutiny," Stewart said in February.

    But Stewart's critics pummeled him and said he'd unfairly equated the aging president with his opponent, a four-times indicted, now-convicted felon.

    Trump and Biden are set to face off on stage in the first presidential debate of 2024. This debate will be hosted on CNN on June 27 at the network's Atlanta studio.

    Representatives for Trump and Biden did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

    Read the original article on Business Insider

  • ASX 200 dips on RBA interest rate decision

    A hipster-looking man with bushy beard and multiple arm tattoos sits on the floor against a sofa reading a tablet with his hand on his chin as though he is deep in thought.

    The S&P/ASX 200 Index (ASX: XJO) edged lower following on the interest rate announcement just released by the Reserve Bank of Australia (RBA).

    The benchmark Aussie index was up 1.0% at 2:30pm AEST before slipping 0.1% in the minutes that followed. At time of writing the benchmark index remains up 0.9%.

    ASX 200 investors took the news in stride after the RBA reported that, as widely expected, it was holding the cash rate steady at 4.35%. The interest rate paid on Exchange Settlement balances also remains unchanged at 4.25%.

    Very few analysts were expecting Australia’s central bank to cut interest rates today. But ASX 200 investors will be relieved the RBA didn’t opt to hike rates, as some economists had been forecasting, to bring down ongoing inflationary pressures.

    But after raising interest rates 13 times since it began tightening in May 2022, the RBA appears content to take a wait and see posture. At least for now.

    Here’s the latest.

    What ASX 200 investors learned from today’s RBA interest rate call

    Commenting on the decision that ASX 200 investors will be analysing this afternoon, the RBA board noted that inflation has come down “substantially” since peaking in 2022.

    “Higher interest rates have been working to bring aggregate demand and supply closer towards balance,” the board said.

    However, ASX 200 investors didn’t get that first rate cut today.

    The RBA cautioned that “the pace of decline has slowed in the most recent data, with inflation still some way above the midpoint of the 2–3% target range”.

    Over the year to April, the monthly headline CPI indicator rose by 3.6%. Taking out volatile items and holiday travel, underlying inflation increased by a more worrisome 4.1%. That’s in line with the inflation figures in December.

    On the wages and labour front, the RBA reported:

    Conditions in the labour market eased further over the past month but remain tighter than is consistent with sustained full employment and inflation at target. Wages growth appears to have peaked but is still above the level that can be sustained given trend productivity growth.

    Now what?

    Unfortunately, ASX 200 investors will have to live with some uncertainty over the interest rate outlook over the medium-term.

    “The economic outlook remains uncertain and recent data have demonstrated that the process of returning inflation to target is unlikely to be smooth,” the RBA said.

    The board cited persistent services price inflation as a key uncertainty. They added that while wages growth is easing, it remains high. The answer, it seems, is that we all need to work more productively.

    “Productivity growth needs to pick up in a sustained way if inflation is to continue to decline,” the board said.

    “There also remains a high level of uncertainty about the overseas outlook,” the board added.

    So, when can ASX 200 investors finally expect the RBA to begin cutting interest rates?

    Well, that vague and unsatisfying answer is “some time yet”.

    According to the RBA:

    Inflation is easing but has been doing so more slowly than previously expected and it remains high. The board expects that it will be some time yet before inflation is sustainably in the target range.

    While recent data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation.

    The post ASX 200 dips on RBA interest rate decision appeared first on The Motley Fool Australia.

    Should you invest $1,000 in S&P/ASX 200 right now?

    Before you buy S&P/ASX 200 shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and S&P/ASX 200 wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Japan’s glut of abandoned, derelict homes created so many eyesores and safety hazards it’s making the property market bleed billions

    A street in Okawachiyama, Saga Prefecture, Japan.
    Japan has over 8 million abandoned houses in the countryside.

    Makoto Watanabe

    • Japan's abandoned homes are casting a shadow on nearby properties, a Nikkei report revealed. 
    • The homes cost the Japanese property market some $24.7 billion over five years through 2023.
    • Japan has been offering these abandoned homes at throwaway prices to lure buyers. 

    Japan's glut of abandoned homes — or akiya — has hit the prices of surrounding properties, and the damage goes into the tens of billions.

    A report by Nikkei Asia on Tuesday estimated that the country's property market suffered losses of some $24.7 billion over the last five years due to the falling property values of homes near derelict buildings.

    The report quoted research from the Japan Akiya Consortium, a group of 14 companies and a research institution that aims to tackle Japan's akiya problem.

    According to the consortium's research, land prices for properties within a 165-foot radius of the akiya are cratering.

    This is due to various factors. For one, potential buyers concerned about vegetation overgrowth and pest infestations from the abandoned homes are steering clear.

    Pest infestations aside, the houses can also pose serious safety hazards. Poorly maintained properties, for one, could collapse in earthquakes, landslides, or extreme weather.

    An akiya also can't be occupied or demolished without tracking down the original owner — a time-consuming exercise, as descendants may have moved away or become uncontactable. As such, these houses have led to the formation of "ghost villages" in Japan's rural prefectures.

    The Japanese government is offering incentives, such as cheap $500 homes and tax reliefs, to entice residents to move from urban areas back to rural towns.

    Foreigners have jumped on the deals, snagging large properties for low prices and renovating them into their dream homes.

    However, Chris McMorran, an associate professor in the Department of Japanese Studies at the National University of Singapore (NUS), told BI in 2021 that the outlook for rural communities remains bleak.

    "The fact that there are so many empty houses is a blight on the landscape, and a further deterrent, because people don't want to live in a terminal village surrounded by 'ghost houses,'" McMorran said to Insider's Lina Batarags and Cheryl Teh.

    Japan'a akiya have ballooned to nine million as of October 2023, accounting for nearly 14% of all homes in the country. The number is set to increase as Japan's population shrinks, ages, and moves from rural to urban dwellings.

    Akiya also includes abandoned condominiums. According to Nikkei, owners who leave their homes and don't pay the condominium management and maintenance fees could lower the value of the building as a whole.

    "Our estimate was limited to the impact of abandoned single-family houses on land prices," Teppei Kawaguchi, CEO of Crassone, a construction and demolition services company that heads the consortium, told Nikkei. "The actual negative impact may be even greater."

    There is a flip side to this property crisis. While buyers may be shying away from purchasing homes around akiya, some abandoned homes have caught the fancy of people wanting to buy cheap property in the Japanese countryside.

    And in November, Airbnb told Nikkei that it wants to partner with local governments to encourage homeowners to renovate their abandoned homes, so that they could be used as tourist attractions.

    "It can be a good source of income after people retire as our lifetime gets longer. If the owners of idle assets refurbish them and convert them into lodgings, that would be a solution," Airbnb's head of Japan, Yasuyuki Tanabe, told Nikkei.

    Crassone, a construction and demolition services company that heads the consortium, didn't immediately respond to a request for comment from Business Insider.

    Read the original article on Business Insider

  • 10 ASX shares that have raised dividends for a decade

    Happy woman holding $50 Australian notes

    As a working parent, I often find comfort in the phrase “rain or shine” when planning my kids’ after-school activities or holiday camps. It means I don’t have to worry about unpredictable weather conditions.

    Now, imagine having that same level of reliability with your dividend shares. With that in mind, I’ve done the initial screening for you and compiled a list of ASX companies that have consistently increased their annual dividends for the past decade, come rain or shine.

    Here are ten ASX shares that have demonstrated this remarkable level of dependability over the past ten years.

    Which ASX shares made the cut?

    In this screening process, I have used a number of selection criteria as follows:

    • Companies that have raised their dividends per share (DPS) every year since FY15
    • Market capitalisation of at least $300 million
    • Dividend yield of at least 1% based on the current share price

    All the data is based on S&P Capital IQ. The dollars refer to Australian dollars (AUD) except for Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) in New Zealand dollars and for CSL Ltd (ASX: CSL) in US dollars.

    Let’s see which ASX dividend shares made it to the Hall of Fame. The table is sorted by the highest dividend yield.

    Ticker Company name Share price
    (AUD)    		 Market cap
    ($ mn)    		 Dividend yield
    (%)    		 DPS
    FY15    		 DPS
    TTM*
    ASX:APA APA Group 8.4 10,819 6.6% $0.38 $0.56
    ASX:SHL Sonic Healthcare Ltd 26.3 12,630 4.0% $0.70 $1.05
    ASX:CHC Charter Hall Group 12.6 5,934 3.5% $0.24 $0.44
    ASX:SDF Steadfast Group Ltd 5.5 6,090 2.9% $0.05 $0.16
    ASX:SOL Washington H Soul Pattinson & Company Ltd 32.9 11,861 2.8% $0.50 $0.91
    ASX:BKW Brickworks Limited 27.2 4,143 2.4% $0.45 $0.66
    ASX:NST Northern Star Resources Ltd 13.4 15,403 2.3% $0.05 $0.31
    ASX:CAR CAR Group Limited 35.4 13,359 1.9% $0.34 $0.67
    ASX:FPH Fisher & Paykel Healthcare 28.9 17,969 1.3% $0.14 $0.42
    ASX:CSL CSL Ltd 293.7 141,931 1.3% $1.24 $2.48
    Note: TTM stands for trailing twelve months.

    APA Group (ASX: APA) tops the list in terms of the dividend yield, offering a 6.6% yield. The energy infrastructure operator could be a good addition for your retirement due to its defensive earnings and long track record of growth, as my colleague James pointed out.

    My favourite is insurance broker Steadfast Group Ltd (ASX: SDF) whose share prices fell approximately 10% from its highs in May for its strong business fundamentals as the largest general insurance broker network in Australia.

    Down the list, of course, I wouldn’t expect anything less from well-loved dividend duo Washington H Soul Pattinson & Company Ltd (ASX: SOL) and Brickworks Limited (ASX: BKW). Both companies were also part of our team’s picks for ASX dividend shares for June.

    Can they keep on increasing dividends in the future?

    While past performance is never a guarantee of future results, many companies on this list have demonstrated strong financial health, consistent earnings growth, and sound management practices.

    These factors often contribute to their ability to sustain and potentially grow dividends. Additionally, many of these companies operate in resilient industries with steady demand, further supporting their capacity to reward shareholders.

    While future dividends are not guaranteed, this list could be a good starting point for further research.

    The post 10 ASX shares that have raised dividends for a decade appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Apa Group right now?

    Before you buy Apa Group shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Apa Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Kate Lee has positions in Brickworks. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, CSL, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Apa Group, Brickworks, Steadfast Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended CSL, Car Group, and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Which ASX 200 company director just sold $545,000 in shares?

    Woman looking at her smartphone and analysing share price.

    An ASX 200 company director has just sold more than half a million dollars worth of shares.

    A notice lodged with the ASX reveals Hamish McLennan, the deputy chair and non-executive director of ASX 200 financials firm Magellan Financial Group Ltd (ASX: MFG), has sold almost $545,000 worth of shares.

    The sale of these indirect holdings took place on-market on 7 June. McLennan sold 63,948 Magellan shares at an average price of $8.515 per share. The consideration was $544,517.

    The sale represents a more than 60% sell-down in McLennan’s indirect holdings of ordinary fully paid Magellan shares. He retains 41,300 ordinary fully paid shares in the ASX 200 funds manager.

    Among his other holdings are 13,157 Magellan Financial Group Ltd options (ASX: MFGO).

    He also has 41,116 units in the Magellan High Conviction Trust (ASX: MHHT) and 118,026 units in the Magellan Global Fund (Closed Class) (ASX: MGF).

    When an ASX 200 director sells a large personal stake, companies sometimes issue official statements explaining why the sale took place. In this case, no such statement was lodged with the ASX.

    McLennan sits on several other ASX company boards.

    He is the chair of the board at ASX 200 communications behemoth REA Group Ltd (ASX: REA) and an independent director of United States gaming company Light & Wonder Inc. CDI (ASX: LNW).

    He is also the chair of the board for ASX micro-cap ARN Media Ltd (ASX: A1N).

    Meantime, another Magellan director, Cathy Kovacs, invested $100,000 in the ASX 200 funds manager late last month.

    This was the first parcel of Magellan shares she has bought since joining the board in November last year.

    What’s the latest news on this ASX 200 financials share?

    The ASX 200 funds manager released its latest funds under management (FUM) statement on 6 June.

    In May, Magellan experienced net outflows of $0.1 billion, which included net retail outflows of $0.2 billion and net institutional inflows of $0.1 billion.

    FUM as of 31 May totalled $36.7 billion, up slightly from $36.3 billion on 30 April.

    The Magellan share price is $8.23 at the time of writing, up 1.17%.

    What are the brokers saying about Magellan shares?

    To say the reviews are mixed would be an understatement.

    Macquarie has an underperform rating on Magellan shares with a 12-month share price target of $8.40.

    Morgans has a hold rating on the ASX 200 fund manager with a price target of $9.67.

    UBS has a buy rating on Magellan shares with a share price target of $10.25.

    The post Which ASX 200 company director just sold $545,000 in shares? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Magellan Financial Group right now?

    Before you buy Magellan Financial Group shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Magellan Financial Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bronwyn Allen has positions in Macquarie Group and Magellan Financial Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Light & Wonder, Macquarie Group, and REA Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Light & Wonder and REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Could Qantas shares be poised to catch some Chinese tailwinds?

    Man sitting in a plane looking through a window and working on a laptop.

    Qantas Airways Ltd (ASX: QAN) shares are marching higher today.

    Shares in the S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $6.00. In early afternoon trade on Tuesday, shares are changing hands for $6.06 apiece, up 0.9%.

    That’s right about in line with the 1.0% gains posted by the ASX 200 at this same time.

    And it sees Qantas shares up more than 13% so far in 2024.

    That’s the latest price action for you.

    Now here’s why Qantas shares could catch some sustainable updrafts from China.

    Qantas shares eyeing panda diplomacy

    In a boost for Qantas shares, 2024 has seen domestic air travel within Australia rebound to just about pre-COVID levels.

    “After four years of instability, the domestic airline industry has returned to more typical seasonal levels that were last seen before the pandemic,” ACCC commissioner Anna Brakey noted last month.

    International air travel has also surged since borders reopened post-pandemic. However, international numbers remain below 2019 figures.

    That’s particularly true for China.

    As The Australian reported, Chinese travellers counted as Australia’s biggest international tourist group, bringing in $3.3 billion that year. But in April this year short-term visitors from China still only represented 60% of pre-pandemic numbers.

    However, thawing relations between the two nations could see those numbers tick back up, offering a potential boost for Qantas shares.

    In a move likely to be welcomed by international travellers heading in both directions, China is adding Aussies to the list of citizens who can travel there without visas for trips of up to 15 days. That eliminates the $110 tourist visa Australians are required to pay currently to travel to the Middle Kingdom.

    After meeting with Prime Minister Anthony Albanese, Chinese Premier Li Qiang said that in addition to the visa-free pass for Aussie travellers, Australia would offer “reciprocal access to five-year multiple entry visas for tourism, business and visiting family members.”

    Commenting on the visa travel exemption that could provide tailwinds for Qantas shares, Sydney Airport CEO Scott Charlton said (quoted by The Australian):

    In terms of inbound visitors from China, at the end of March this year we were just over 80% recovered, and today’s announcement represents a good first step in continuing to backfill that gap.

    Last month Qantas announced it was suspending its Sydney-Shanghai flights commencing on 28 July “due to low demand”.

    “Qantas will continue to monitor the Australia-China market closely and will look to return to Shanghai when demand has recovered,” the ASX 200 airline stated.

    With the lifting of visa requirements for Aussie travellers and Australia’s reciprocal measures for Chinese travellers, demand may recover sooner than expected, potentially lifting the medium-term performance of Qantas shares.

    According to Australian Airports Association CEO James Goodwin:

    It’s hoped the renewed focus on trade and tourism between the two countries will see an increase in airline capacity. More airline seats available between Australia and China will mean more passengers through our terminals and out exploring our cities and regional areas as tourists.

    The post Could Qantas shares be poised to catch some Chinese tailwinds? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Qantas Airways Limited right now?

    Before you buy Qantas Airways Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas Airways Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why Capitol Health, Infratil, Newmont, and Race Oncology shares are charging higher

    The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday and storming higher. In afternoon trade, the benchmark index is up 0.95% to 7,773.6 points.

    Four ASX shares that are rising more than most today are listed below. Here’s why they are pushing higher:

    Capitol Health Ltd (ASX: CAJ)

    The Capitol Health share price is up 10% to 29.7 cents. On Monday, this diagnostic imaging company announced that it had accepted a merger offer from Integral Diagnostics Ltd (ASX: IDX). The latter made an offer with an implied exchange ratio of 0.12849 Integral Diagnostics shares for every Capitol Health share. This equated to 32.6 cents per share at the time, which was a 33% premium to Friday’s closing price. Ord Minnett notes that the proposed merger will establish a clear number three player in the Australian diagnostic imaging sector.

    Infratil Ltd (ASX: IFT)

    The Infratil share price is up almost 4% to $10.43. Investors have responded positively to the infrastructure investment company’s capital raising. It has raised NZ$1 billion at a 6.8% discount of NZ$10.15 per new share. Infratil CEO, Jason Boyes, said: “We are very pleased with the strong level of support for the Placement, particularly from our existing shareholders. We are also excited to welcome several high quality institutional investors onto our register. The capital raised will create significant capacity to fund growth investments at our Trans-Tasman data centre platform, CDC, and across the broader Infratil portfolio.”

    Newmont Corporation (ASX: NEM)

    The Newmont Corporation share price is up almost 2.5% to $62.51. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has upgraded the gold miner’s shares to a buy rating with a $75.00 price target. This implies potential upside of 20% for investors from current levels.

    Race Oncology Ltd (ASX: RAC)

    The Race Oncology share price is up 18% to $2.08. Investors have been buying this clinical stage biopharmaceutical company’s shares after the United States Food and Drug Administration (FDA) extended Rare Paediatric Disease Designation (RPDD) to RC220 bisantrene for the treatment of childhood subtypes of acute myeloid leukemia (AML). This qualifies a sponsor eligible to receive a Priority Review Voucher (PRV) from the FDA at the time of marketing approval or authorisation for drug in the paediatric rare disease area. PRVs are transferable and very valuable. Management notes that two PRVs have been sold in recent times for US$110 million.

    The post Why Capitol Health, Infratil, Newmont, and Race Oncology shares are charging higher appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Capitol Health Limited right now?

    Before you buy Capitol Health Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Capitol Health Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Integral Diagnostics. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • China now has 500 warheads and is building its nuclear arsenal faster than any other country, think tank says

    China's Dongfeng-41 nuclear missiles on display during a military parade on October 1, 2019.
    China's Dongfeng-41 nuclear missiles on display during a military parade on October 1, 2019.

    Xia Yifang/Xinhua News Agency via Getty Images

    • China increased its nuclear warheads from 410 in 2023 to 500 this year, per SIPRI.
    • The European think tank says China's nuclear arsenal is growing "faster than any other country."
    • China could have over 1,000 operational nuclear warheads by 2030, per the Pentagon.

    China has beaten its fellow superpowers when it comes to growing its stockpile of nuclear warheads, a European think tank said in a report on Monday.

    "China is expanding its nuclear arsenal faster than any other country," said Hans M Kristensen, a Stockholm International Peace Research Institute (SIPRI) expert on weapons of mass destruction.

    According to SIPRI, China has increased its nuclear warheads from 410 in 2023 to 500 at the start of this year. But China, Kristensen said, isn't the only country that's been busy expanding its nuclear arsenal.

    North Korea has increased its warheads by two-thirds over the past year, going from 30 in 2023 to 50 this year, per the think tank.

    To be sure, China's and North Korea's growing nuclear stockpiles still cannot compare to what the US and Russia have.

    In terms of total inventory, the US has 5,044 warheads while Russia has 5,580, and their combined stockpile makes up almost 90% of the world's nuclear weapons, per SIPRI.

    Representatives for China's foreign ministry didn't immediately respond to a request for comment from BI sent outside regular business hours.

    China could have over 1,000 warheads by 2030

    The institute's figures are in line with the Department of Defense's forecasts, which were published in October in their annual China Military Power Report.

    "In 2020, the Department of Defense estimated China's operational nuclear warhead stockpile was in the low-200s and expected to at least double by 2030," the report said.

    "However, Beijing has accelerated its nuclear expansion, and the Department of Defense estimates China's stockpile had more than 500 operational nuclear warheads as of May 2023," the report continued.

    And China's nuclear stockpile will only continue to grow in the years to come. The Pentagon said in its report that it expects China to have over 1,000 operational nuclear warheads by 2030.

    "These changes to the numbers, capability, and readiness of the PRC's nuclear forces in the coming years are likely to outpace potential developments by the nuclear forces of any competitor," the report said of China's growing nuclear capabilities.

    Expanding its nuclear arsenal isn't China's only military goal. The country has also been focused on bolstering its naval capabilities.

    According to a 2021 US Navy Institute report, China has the world's largest navy, with over 355 vessels in its fleet. In July, leaked US Navy intelligence revealed that China's shipbuilding capacity is 232 times greater than the US.

    However, some military experts believe that China still won't be able to take on the US in the next decade, even with its burgeoning military capabilities.

    "China, in my estimation, will not be ready to take on the US in a very mature way for about 10 years," retired US Navy Adm. James Stavridis said in an interview on "The Michael Medved Show" in December.

    "Even though China is building a massive fleet, even though they're acting very aggressively, they're not ready yet to line up all that they need to take on the US Pacific Fleet," he continued.

    Read the original article on Business Insider

  • Why Beach Energy, Fortescue, Kina Securities, and Melbana Energy shares are dropping today

    A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.95% to 7,774.7 points.

    Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

    Beach Energy Ltd (ASX: BPT)

    The Beach Energy share price is down 2.5% to $1.53. This is despite oil prices rising overnight and the release of the energy producer’s strategic review this morning. In respect to the latter, Beach Energy has laid out a plan that it believes will result in operating cost and capital reductions totalling ~$135 million. This will come from a 23% headcount reduction, ~$35 million field operating cost savings, and a ~$100 million sustaining capital expenditure reduction. Management believes that this will help it deliver leading shareholder returns through the sustainable supply of energy.

    Fortescue Ltd (ASX: FMG)

    The Fortescue share price is down 4.5% to $21.95. This has been driven by news that a major block trade has taken place at a decent discount to yesterday’s close price. It remains unclear who is selling, but there are reports that a large institutional investor offloaded $1.1 billion worth of the iron ore miner’s shares through a block trade this morning. These shares were sold at $21.60 per share, which is a 6% discount to where Fortescue’s shares ended yesterday’s session.

    Kina Securities Ltd (ASX: KSL)

    The Kina Securities share price is down 7.5% to 88 cents. This morning, this Papa New Guinea-based financial services provider revealed that it has identified a recent instance of fraud impacting several accounts belonging to a small number of customers. The amount involved is the subject of ongoing investigation. However, the aggregate loss is expected to be in the range of PGK12 million to PGK15 million (A$4.74 million to A$5.9 million) on a pre-tax basis. Through root cause analysis, certain system vulnerabilities were identified and promptly addressed. Kina Securities has downgraded its guidance to reflect this.

    Melbana Energy Ltd (ASX: MAY)

    The Melbana Energy share price is down 36% to 4.3 cents. This follows news that the appraisal of the Alameda-3 well in Cuba wasn’t successful. Two attempts were made at flowing the well, however in both cases the complete removal of drilling mud and downhole fluids from the test string was not achieved and oil did not flow to surface. Preparations for testing of the shallower Alameda formation now underway.

    The post Why Beach Energy, Fortescue, Kina Securities, and Melbana Energy shares are dropping today appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.