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Author: openjargon

  • Modi’s Russia visit shows India isn’t worried about making the US mad

    Russian President Vladimir Putin and Indian Prime Minister Narendra Modi in 2016
    Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.

    Mikhail Svetlov/Getty Images

    • In a move likely to anger the US, Modi is visiting Russia.
    • The move signals strong ties between Delhi and Moscow, and shows the world India is pursuing its own agenda.
    • Modi is aiming to correct the trade imbalance and address China's Indo-Pacific activities.

    In a move likely to anger the US, Indian Prime Minister Narendra Modi is visiting Russia on Monday for his first bilateral trip after winning a historic third term in office.

    Modi's two-day visit to Russia — where he is scheduled to meet with President Vladimir Putin — is significant in that it signals strong ties between Delhi and Moscow. It also shows the world that India is not afraid to pursue its own agenda.

    Vinay Kwatra, India's foreign secretary, told reporters in New Delhi that issues between Russia and India have "piled up" and "need to be addressed," per Bloomberg.

    Russia's relationship with India goes back to the Cold War, and trade between the two countries has grown since Russia started the war in Ukraine. India is a major buyer of Russian oil. Russia is also India's biggest arms supplier.

    Kwatra underscored that the two countries' trade relationship has remained "resilient."

    Still, Modi's trip will "rankle many Western observers," Ved Shinde, a researcher and contributor to Australia's Lowy Institute think tank, wrote in a note on Wednesday.

    "Since the Ukraine war began, India's purchase of cheap oil from Russia has been seen as profiting from troubles in the heart of Europe," Shinde added.

    Modi's visit to Russia will make the US look bad

    Just like Putin's visit to supply-chain hot spot Vietnam, India's engagement with Russia isn't a good look for the US, as it comes while Washington is isolating Putin's regime.

    The US has raised "some concerns" about India's relationship with Russia with New Delhi, Kurt Campbell, the US Deputy Secretary of State, said last month.

    However, Washington acknowledges that India's ties with Russia are different from its ties with the US.

    "We have many areas of alignment, but it is not surprising that there would be areas where we've had perhaps different perspectives, views, historical ties," Campbell said about America's relationship with India.

    India, for its part, is looking to balance its relationship with the world's key powerbrokers — the US, Russia, and China.

    "There are different degrees in India's multi-alignment. Make no mistake — the United States and its allies are more consequential for India's future than its relationship with Russia," wrote Shinde.

    India needs to leverage its historical ties with Russia to secure its economy and security, so Modi isn't just in Russia for a goodwill trip.

    Reducing the trade imbalance

    A key agenda item for the visit is to reduce a huge bilateral trade imbalance, said Kwatra.

    India imports about $60 billion of goods a year from Russia, but Russia buys less than 10% of this amount from India, per Bloomberg.

    Modi may also touch on China's activities in the Indo-Pacific region, said Kwatra.

    India is trying to manage its relationship with China, which has been testy since a border dispute in 2020. Modi skipped the Shanghai Cooperation Organisation summit in Kazakhstan last week.

    There's also the matter of Russia's ties with China.

    At the summit last week, Putin said Russia's relationship with China is in the "best period in history."

    Modi now needs to cozy up to Putin to counter China's advances.

    "The reason for the time-tested stability in India-Russia ties is to maintain a continental balance in the Eurasian heartland. That is, to balance China," wrote Shinde.

    "Or to put it another way, don't go around making new adversaries when there are already two open fronts — China and Pakistan," Shinde added.

    Read the original article on Business Insider

  • You’re not losing your mind, Biden is getting more orange

    President Joe Biden in 2024, compared to 2021.
    President Joe Biden in 2024, compared to 2021.

    Mandel Ngan/AFP via Getty Images, NurPhoto/Getty Images

    • Joe Biden may have taken a leaf out of Donald Trump's tanning playbook.
    • The president has appeared very bronzed in recent appearances.
    • He hasn't always been this orange, and certainly wasn't during his disastrous CNN debate with Trump.

    If you think President Joe Biden has been looking a lot more orange, you're not alone.

    Biden's complexion has changed remarkably since the start of his term, with his skin now emitting a Trump-esque glow.

    The orange hue appeared all the more stark in his Friday interview with ABC News' George Stephanopoulos.

    [youtube https://www.youtube.com/watch?v=5J0Jm6WTCiM?feature=oembed&w=560&h=315]

    On July 4, he appeared tanner than usual while speaking from the South Lawn of the White House.

    President Joe Biden speaks during a 4th of July event on the South Lawn of the White House on July 4, 2024 in Washington, DC.
    President Joe Biden speaks during a 4th of July event on the South Lawn of the White House on July 4, 2024 in Washington, DC.

    Samuel Corum/Getty Images

    The pronounced tan was obvious in multiple photos from the event.

    President Joe Biden walks on stage during a 4th of July event on the South Lawn of the White House on July 4, 2024 in Washington, DC.
    President Joe Biden walks on stage during a 4th of July event on the South Lawn of the White House on July 4, 2024 in Washington, DC.

    Samuel Corum/Getty Images

    And Biden's orange glow was apparent on July 3 too, when he was awarding the Medal of Honor to two Civil War soldiers.

    President Biden at a ceremony awarding the Medal of Honor to two Civil War soldiers on July 3.
    President Biden at a ceremony awarding the Medal of Honor to two Civil War soldiers on July 3.

    NurPhoto

    Same here on July 1, when he was speaking to the media at the White House following the Supreme Court's ruling on charges against former President Donald Trump.

    President Joe Biden speaks to the media on July 1.
    President Joe Biden speaks to the media on July 1.

    Andrew Harnik/Getty Images

    And the change seems recent. The president, aged 81, was not nearly this orange at the start of his term in 2020.

    For example, speaking at the COP26 United Nations climate change conference in Scotland in November 2021, his face showed no hint of a spray tan.

    President Joe Biden
    President Joe Biden speaks during a news conference at the COP26 United Nations climate change conference in Glasgow, Scotland, on November 2, 2021.

    Evan Vucci/AP Photo

    Biden has appeared slightly more tan in the summertime, as one does when the sun's out. He was lightly bronzed during a speech in June 2023 about affirmative action in higher education. But super-orange Biden moments have been few and far between.

    President Joe Biden makes a statement about the Supreme Court's decision on affirmative action in higher education in the Roosevelt Room at the White House on June 29, 2023 in Washington, D.C.
    President Joe Biden makes a statement about the Supreme Court's decision on affirmative action in higher education in the Roosevelt Room at the White House on June 29, 2023 in Washington, D.C.

    Chip Somodevilla

    The change in his visage has sparked memes and jokes on social media, with users on X calling him "BidenPumpkinHead" and "Spray Tan Joe."

    "Next time Joe, just let an Alabama sorority girl apply your spray tan," said another X user on July 1.

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

    Moira Coops, an experienced makeup artist and stylist who has worked with numerous politicians and CEOs, told Business Insider that Biden's orange hue was more likely to be makeup than spray tan.

    She said that people Biden's age — especially when they are feeling unwell or haven't seen the sun in a while — tend have a sallow complexion. Biden's team probably bronzed him up to make him look "more healthy," she added.

    But the makeup was a "little bit too strong" for her taste, Coops said, adding that Biden's makeup crew "could have gone one shade down."

    If Biden did get an image adjustment, it was fairly recent. His face was an entirely different color during his debate with Trump on June 27.

    On the CNN cameras, his face appeared pale — and that, coupled with his slurred speech and jumbled lines, sparked concerns about his fitness to run for reelection.

    Post-debate, anonymous sources told Politico that the Biden family had expressed anger about the president's on-camera appearance, blaming the network's makeup artists for making him appear too pale and drawn.

    To be sure, Trump has also been known to go hard with tanning.

    "I know exactly what he does to himself — the tanning bed, the spray tan, he wears the goggles and you can see the hyper-pigmentation around his eyes," Jason Kelly, a Cleveland-based makeup artist who was hired to work at 2016's Republican National Convention, told Harper's Bazaar in June 2016.

    Trump's intense tan has also been something his critics have used against him. His former fixer turned nemesis, Michael Cohen, once called him a "Cheeto-dusted cartoon villain."

    Representatives for Biden didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

    Read the original article on Business Insider

  • Here are the top 10 ASX 200 shares today

    Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.

    It was a middling start to the week’s trading for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares this Monday. After ending last week on a bit of a sour note, the bears were back at it today.

    By the time trading wrapped by, the ASX 200 had declined by a painful 0.76%, leaving the index at 7,763.2 points.

    This Garfield-esque start to the ASX’s week comes after a much more upbeat conclusion to the American trading week in the early hours of Saturday morning (our time).

    The Dow Jones Industrial Average Index (DJX: DJI) had a decent showing, rising by 0.17%

    But it was the Nasdaq Composite Index (NASDAQ: .IXIC) that was really on fire, shooting up 0.9%.

    Let’s get back to ASX shares and this week now, examining what the various ASX sectors were doing today.

    Winners and losers

    It was almost all frowns on the Australian stock market this Monday, with only a handful of sectors coming out with a win.

    But first, the losers. The worst place to be today was in mining shares. The S&P/ASX 200 Materials Index (ASX: XMJ) had a shocker today, cratering by a nasty 1.8%.

    Energy stocks weren’t too far in front of that, with the S&P/ASX 200 Energy Index (ASX: XEJ) plunging 1.45%.

    Real estate investment trusts (REITs) also had a horrid day. The S&P/ASX 200 A-REIT Index (ASX: XPJ) tanked 1.06%.

    It was a rough session for ASX healthcare shares too. The S&P/ASX 200 Healthcare Index (ASX: XHJ) was slapped down 1.04%.

    Communications stocks were another sore point, illustrated by the S&P/ASX 200 Communication Services Index (ASX: XTJ)’s 0.86% loss.

    Utilities shares came next. The S&P/ASX 200 Utilities Index (ASX: XUJ) was on the receiving end of a 0.86% shellacking this session.

    Industrial stocks weren’t riding to the rescue, as you can see from the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.38% hit.

    Financial shares were also getting sold off. The S&P/ASX 200 Financials Index (ASX: XFJ) backtracked 0.29%.

    Our final losers were consumer staples stocks. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) had 0.14% wiped from its score today.

    Turning now to the far less numerous winners, gold shares took out today’s crown as the place to be. This session, the All Ordinaries Gold Index (ASX: XGD) enjoyed a 0.96% boom.

    Consumer discretionary shares were saving investors’ bacon too, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) rising 0.33%.

    Tech stocks were also defying the odds. The S&P/ASX 200 Information Technology Index (ASX: XIJ) managed to grow 0.29% this Monday.

    Top 10 ASX 200 shares countdown

    The best stock on the index today was gold miner Red 5 Ltd (ASX: RED). Red 5 shares rocketed a compelling 5.33% this session up to 39.5 cents each.

    This move higher comes after the company made an evidently well-received announcement this morning regarding its sales and finances.

    Here’s a look at the rest of today’s highest flyers:

    ASX-listed company Share price Price change
    Red 5 Ltd (ASX: RED) $0.395 5.33%
    Emerald Resources N.L. (ASX: EMR) $3.82 4.09%
    Coronado Global Resources Inc (ASX: CRN) $1.405 4.07%
    Pro Medicus Limited (ASX: PME) $134.27 2.59%
    Evolution Mining Ltd (ASX: EVN) $3.73 2.47%
    Lovisa Holdings Ltd (ASX: LOV) $32.00 2.30%
    Johns Lyng Group Ltd (ASX: JLG) $5.84 2.10%
    Audinate Group Ltd (ASX: AD8) $15.99 1.98%
    NEXTDC Ltd (ASX: NXT) $18.14 1.97%
    Ramelius Resources Ltd (ASX: RMS) $1.945 1.83%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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

    Before you buy Audinate Group 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 Audinate Group 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 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Audinate Group, Johns Lyng Group, Lovisa, and Pro Medicus. The Motley Fool Australia has positions in and has recommended Audinate Group. The Motley Fool Australia has recommended Johns Lyng Group, Lovisa, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Boeing’s big mea culpa just dropped and it doesn’t look pretty

    Boeing CEO Dave Calhoun testifying during a Senate hearing on the company's broken safety culture last month.
    Boeing CEO Dave Calhoun testifying during a Senate hearing on the company's broken safety culture last month.

    Liu Jie/Xinhua via Getty Images

    • Boeing agreed to plead guilty to defrauding the US on Sunday. 
    • In May, the DOJ accused Boeing of violating a 2021 settlement over two fatal Boeing 737 Max crashes.
    • An attorney for the victims' families said he has filed an objection to the plea deal.

    Boeing has agreed to plead guilty to defrauding the US, essentially admitting to accusations that it violated an earlier agreement to strengthen its safety measures in the wake of two fatal Boeing 737 Max crashes in 2018 and 2019.

    "The parties have agreed that Boeing will plead guilty to the most serious readily provably offense," the Justice Department said in a court filing on Sunday night.

    Last week, Bloomberg reported that federal prosecutors had offered Boeing the choice of either accepting the plea deal or risk facing trial.

    Under the plea deal, Boeing will have to pay a fine of $243.6 million. This is on top of the $243.6 million Boeing had already paid as part of the 2021 settlement it breached.

    Besides the fine, Boeing will be required to "invest at least $455 million in its compliance and safety programs." In addition, the government will appoint an independent compliance monitor to oversee the company for three years.

    "We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms," a spokesperson for Boeing told BI in a statement on Monday morning.

    Paul Cassell, an attorney for 15 of the victims' families, told BI on Monday that he has filed an objection to the plea deal.

    "This sweetheart deal fails to recognize that because of Boeing's conspiracy, 346 people died," Cassell said in a statement. "A judge can reject a plea deal that is not in the public interest, and this deceptive and generous deal is clearly not in the public interest."

    Boeing had initially avoided a fraud charge related to two fatal Boeing 737 Max crashes — one near the coast of Indonesia in 2018 and another in Ethiopia in 2019 — after it struck a $2.5 billion settlement agreement with the DOJ in 2021.

    Notably, the 2021 agreement did not impose an independent compliance monitor on Boeing.

    The DOJ said in a statement then that a monitor wouldn't be necessary because "the misconduct was neither pervasive across the organization, nor undertaken by a large number of employees, nor facilitated by senior management."

    But the DOJ accused Boeing of violating the terms of the agreement in May, just months after a door plug from a Boeing 737 Max 9 blew out mid-flight.

    The incident, which took place in January, prompted the Federal Aviation Administration to order the grounding over 170 such planes.

    "The plea agreement will not provide Boeing with immunity for any other conduct, including any conduct that may be subject of any ongoing or future Government investigation of the Company," the DOJ said in its filing on Sunday.

    Read the original article on Business Insider

  • Time to buy Brickworks shares on Australia’s world-beating stat?

    a bricklayer peers over the top of a brick wall he is laying with a level measuring tool on top and looks critically at the work he is carrying out.

    The Brickworks Limited (ASX: BKW) share price went nowhere over the last six months.

    Brickworks owns a significant portfolio of investment assets, including a 26.1% stake in Washington H Soul Pattinson Ltd (ASX: SOL) and property development ventures, partnering with Goodman Group (ASX: GMG).

    During the same period, its business partner Goodman Group (ASX: GMG) saw its share price gain nearly 50%.

    In this article, I will explore recent developments in Australia’s industrial property market, with a focus on Sydney, and what they mean for Brickworks shares.

    Australia’s industrial property vacancy is the lowest level globally

    Last week, CBRE Group released its property market review report for the six months ending 30 June 2024. In this report, the property group emphasised that although there was an increase in the nation’s industrial property vacancy, it remains among the lowest globally. According to CBRE:

    The national vacancy rate has increased to 1.9% for H1 2024, with upward movement recorded for most major markets across Australia. This rate is still the lowest level globally.

    Despite the rise in space availability, we still do not expect to see the national average vacancy rate to surpass 4% in 2024.

    Super prime grade stock is still being readily absorbed in the market at strong rental levels, and we do not anticipate demand for good quality assets in core locations to fall.

    The vacancy rate in Sydney, where Brickworks is developing its land holdings with Goodman Group, rose from 0.5% six months ago to 2% in 1H CY24.

    While it was disappointing to see the upward movement, the CBRE report highlights that this is still below the equilibrium rate of 4% and pre-pandemic level of above 5%.

    As the shortage in the industrial property market continues, the current pre-commitment rate for the new supply is strong at 75%.

    What does it mean for Brickworks shares?

    The high pre-commitment rate for industrial properties is one of many reasons Bell Potter remains positive on Brickworks shares. The analysts at the broker said:

    Despite some recent normalisation in market rent growth and vacancies, near-term supply in BKW’s precincts continues to remain heavily pre-committed.

    BKW has recently secured DA approval for Oakdale East 2 (250k sqm GLA) and last month announced Amazon (58k sqm GLA) as its anchor tenant, providing the group with strong optionality and, in our view, an effective 12 to 18 month lead on most incoming local supply.

    Brickworks appears undervalued compared to the company’s own estimation of its net asset value (NAV). In its May 2024 trading update, the company estimated its NAV at around $5.6 billion or $36.68 per share. This is far above its share price of $26.84 today.

    In the same update in May, the company highlighted its current rent is well below the market. This indicates there’s room for further income growth from its property ventures as rental terms come into effect. Management said:

    Theses structural trends, along with land supply issues, have driven up rent for prime industrial property in western Sydney by 55% in the past two years. We estimate that the current passing rent within the Industrial JV Trust of $147/m2 is now 35% below average market rent of $225/m2.

    The Brickworks share price is flat today at $26.84.

    The post Time to buy Brickworks shares on Australia’s world-beating stat? appeared first on The Motley Fool Australia.

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

    Before you buy Brickworks 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 Brickworks 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 24 June 2024

    More reading

    John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. 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 Amazon, Brickworks, and Goodman Group. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Amazon and Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • I’d buy this ASX growth share in a heartbeat

    a person holds a cardboard box with a recycling symbol containing plastic packaging material.

    I’m excited by the potential of certain ASX growth shares that are expanding globally. Businesses that are growing beyond Australia’s shores have the potential to unlock larger addressable markets.

    Australia is a great country that ranks well on measurements like per-person wealth and income. However, there are fewer than 30 million people in this sunburnt country. Thus, if a company can successfully expand into North America or Europe, it could be a winner.

    In this article, I’ll discuss the ASX small-cap share, Close The Loop Ltd (ASX: CLG), as a potential market-beating opportunity.

    Two of the main things I look for in an ASX growth share are whether it has a compelling future and whether it’s trading at an appealing price to buy. I think Close The Loop ticks both boxes.

    Exciting potential

    The ASX growth share describes its activities as collecting and repurposing products through takeback programs across its resource recovery division. It also provides sustainable packaging products through its packaging division, which enables “greater recoverability and recyclability”.

    The world wants to be more sustainable over the long term, and Close The Loop is one of the businesses that could enable that change.

    One of Close The Loop’s key clients is HP, which aims to achieve 75% circularity for its products and packaging by 2030. HP ships around 40 million PCs every year, and there are approximately 300 million HP PCs in the market right now, not including HP printers and other products.

    The ASX growth share is the first provider to be appointed as an ‘HP platinum global certified renew partner’. ‘HP renew solutions’ is a global and strategic positioning to “insert HP into the refurbishing and resale of the company’s returned products.” Close The Loop is pursuing a global product takeback programme as a “strategic priority”.

    Over the next 12 months, the company expects to establish new facilities in the US, Europe and Middle East to better serve its global clients in those regions.

    The company also recently mentioned it is opening a new IT refurbishment in Mexico.

    I think the business is capable of delivering ongoing organic growth, synergies with the ISP Tek Services acquisitions and it could potentially make more add-on acquisitions in the future.

    In the FY24 first-half result, Close The Loop’s revenue rose 76%, the gross profit margin improved by 3.4 percentage points to 36.2% and underlying net profit after tax (NPAT) increased by 164% to $13.25 million.

    Attractive valuation of the ASX growth share

    How much is this promising ASX growth share valued at?

    According to the forecast on Commsec, the Close The Loop share price is valued at 7x FY24’s estimated earnings, 6x FY25’s estimated earnings and under 6x FY26’s estimated earnings.

    Considering the exciting appeal of the business, I think the earnings multiple of under 8 times is very appealing.

    The post I’d buy this ASX growth share in a heartbeat appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Close The Loop Ltd right now?

    Before you buy Close The Loop Ltd 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 Close The Loop Ltd 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 24 June 2024

    More reading

    Motley Fool contributor Tristan Harrison has positions in Close The Loop. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Close The Loop. The Motley Fool Australia has recommended Close The Loop. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Leading brokers name 3 ASX shares to buy today

    With so many shares to choose from on the Australian share market, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

    Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

    Premier Investments Limited (ASX: PMV)

    According to a note out of Citi, its analysts have retained their buy rating and $36.00 price target on this retail conglomerate’s shares. The broker has been looking at the potential merger of Premier Investments’ apparel brands with Myer Holdings Ltd (ASX: MYR). It is feeling positive about the proposal and believes it could support margin expansion for the latter company and sees potential for significant synergies from the combination. In addition, the broker has previously spoken positively about the proposed spinoff of the Peter Alexander and Smiggle brands, which are expanding internationally. In light of this, the broker thinks that buying Premier Investments gives investors an opportunity to gain exposure to both growth opportunities. The Premier Investments share price is trading at $29.66 on Monday.

    REA Group Ltd (ASX: REA)

    A note out of Macquarie reveals that its analysts have upgraded this online property listings company’s shares to an outperform rating with an improved price target of $212.00. The broker made the move after increasing its earnings estimates and target multiples for the realestate.com.au owner. This is being underpinned by strong demand for its depth products and a better than expected performance in India. And ahead of its full year results next month, Macquarie is tipping REA to deliver a strong result with yields ahead of guidance. The REA Group share price is fetching $193.57 on Monday afternoon.

    Suncorp Group Ltd (ASX: SUN)

    Analysts at Goldman Sachs have retained their buy rating on this insurance giant’s shares with an improved price target of $18.00. This follows the release of an update on its reinsurance renewal and perils allowance last week. Goldman believes the update is neutral to FY 2025 margins. In light of this, it remains very positive on the company. This is due to tailwinds that exist in the general insurance market, such as very strong renewal premium rate increases and the benefit of higher investment yields. In addition, it believes the strong rate momentum that Suncorp is getting should offset any volume pressures. The Suncorp share price is trading at $16.38 at the time of writing.

    The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Myer Holdings Limited right now?

    Before you buy Myer Holdings 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 Myer Holdings 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 24 June 2024

    More reading

    Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended Goldman Sachs Group and REA Group. The Motley Fool Australia has recommended Premier Investments and REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • An Iranian frigate was seen capsizing at port while next to merchant ships, in another black mark for the country’s record of naval mishaps

    Iranian Navy Sahand warship sails along the Persian Gulf near the strait of Hormuz about 1320km (820 miles) south of Tehran, April 30, 2019.
    Iranian Navy Sahand warship sails along the Persian Gulf near the strait of Hormuz about 1320km (820 miles) south of Tehran, April 30, 2019.

    Morteza Nikoubazl/NurPhoto via Getty Images

    • An Iranian frigate capsized while undergoing repairs at Bandar Abbas, a coastal city in the Strait of Hormuz.
    • State media reported that it took on water and lost balance due to a "technical failure."
    • Photos show the ship turned on its side amid merchant ships also docked at Bandar Abbas.

    Several people were admitted to hospital after an Iranian warship capsized at the port city of Bandar Abbas on Sunday, Iran's state media reported.

    The Sahand, a domestically produced Moudge-class frigate, was undergoing repairs when it lost balance and partially sank, per the Mehr News Agency.

    The mishap was due to a "technical failure," Mehr reported.

    A separate report several hours later by the Islamic Republic News Agency cited the country's military saying water had leaked into the Sahand's tanks, causing the vessel to turn over.

    The military added in IRNA's report that the ship had since "returned to balance." Both news agencies are owned by the Iranian government, which described the vessel as a "destroyer."

    Photos released by the agencies show the Sahand floating on its side next to several docked merchant ships. Other images on social media appear to show the vessel tipping over.

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

    The lasting damage sustained by the vessel is not immediately clear.

    The Sahand was launched in 2018 and is named after another Iranian ship that was destroyed by the US in 1988's Operation Praying Mantis.

    The original vessel was one of two Iranian naval ships sunk by the US Navy in retaliation for the mining of the guided missile frigate USS Samuel B. Roberts.

    Iranian media reports said the new Sahand is equipped with torpedoes, anti-air munitions, cruise missiles, a point-defense system, and close-range weapons that can fire up to 7,000 rounds per minute.

    Its capsizing on Sunday is the latest in a string of mishaps for Iran's navy in recent years, including a 2020 friendly fire incident involving a ship of a similar class.

    The Iranian frigate Jamaran was testing an anti-ship missile when it struck the support vessel Konarak in the Gulf of Oman, killing 19 sailors and injuring another 15.

    In late 2021, another Moudge-class frigate, the Talayieh, was videoed capsizing at a flooded dry dock in Bandar Abbas.

    In June of that year, the Kharg, one of Iran's largest naval vessels, caught fire and sank in the Gulf of Oman after firefighters tried for 20 hours to save the ship. It had embarked on a training mission at the time, local media reported.

    Another Moudge-class frigate, the Damavand, ran aground in 2018 and was damaged beyond repair. It had been launched just three years prior.

    In a Sunday report covering the Sahand's capsizing, Iranian state media channel Al-Alalam noted that the US also suffered a capsizing in 2022 involving a ship called USS The Sullivans.

    But USS The Sullivans is a museum ship that saw service in World War II and the Korean War, and was retired in 1965.

    It nearly sank in April 2022 due to a hull breach, but it was repaired and reopened for visits in August 2022.

    Read the original article on Business Insider

  • Paramount and Skydance just agreed to a takeover. But media’s messiest deal isn’t over yet.

    Bob M. Bakish, Shari Redstone, Tom Cruise and Brian Robbins attending the US Premiere of "Mission: Impossible - Dead Reckoning Part One."
    Exiting Paramount CEO Bob Bakish, Paramount Global major shareholder Shari Redstone, Mission Impossible star Tom Cruise, and Nickelodeon boss Brian Robbins.

    Jason Mendez via Getty Images

    • Paramount agreed to merge with Skydance Media after tumultuous acquisition talks.
    • But the Hollywood megamerger may face FTC scrutiny.
    • Under Lina Khan, the FTC has brought antitrust lawsuits against companies in a variety of industries.

    Paramount, the media giant that owns Nickelodeon and MTV, has finally agreed to a deal with Skydance Media, the companies said late Sunday.

    The deal includes an acquisition of National Amusements, which holds the controlling stake in Paramount, and a merger of Skydance and Paramount Global.

    The announcement wraps up the long and confusing Hollywood mega-merger with two personalities at the center: Shari Redstone, who owns the controlling stake in Paramount via National Amusements, and David Ellison, the CEO of Skydance.

    But the drama is not over yet, because the Federal Trade Commission could step in with antitrust concerns. Companies have to review large mergers with the FTC before deals can close.

    Pleasing the agency might not be easy.

    The FTC and its chair, Lina Khan, have been examining deals more closely and pushing for more aggressive competition policies under the Biden administration. Plus, Khan already has Hollywood on her radar.

    Speaking on an August podcast from digital media company The Ankler, Khan said that Hollywood was already being hurt by unfair market conditions caused by consolidation. She also suggested that her agency would unfavorably view further concentration of power in the sector.

    Khan blamed consolidation and vertical integration for creating a "market structure where we hear about how writers and producers and showrunners are all making less, even as companies are charging customers more."

    National Amusements engaged antitrust attorneys at the law firm Ropes & Gray in the lead up to the agreement, the law firm said on Sunday. One of the partners involved, Michael McFalls, worked as attorney-advisor to the FTC's chairman from 1998 to 2000, according to Ropes & Gray's website.

    Skydance, Paramount, and Ropes and Gray did not immediately respond to requests for comment from Business Insider, sent outside standard business hours.

    Tech and consumer companies in the FTC's crosshairs

    Khan's FTC is targeting various industries, not just Hollywood. Last month, Khan said in a conference that her agency was going after the "mob boss," investigating tech companies that create the "biggest harm."

    In April, the FTC sued to block the $8.5 billion acquisition of Michael Kors' parent company Capri Holdings, by Tapestry, which owns Coach and Kate Spade. The FTC said that the proposed merger would deprive millions of American consumers who benefit from competition-induced discounts and innovation.

    Under Big Tech critic Khan, the agency has also brought several lawsuits against tech giants.

    In 2022, the FTC repeatedly tried to block Microsoft's acquisition of Activision Blizzard, a leading video game developer. The agency said that the $69 billion deal would suppress competition in gaming.

    Earlier this year, the FTC sued Apple for anticompetitive behavior and Adobe for violating consumer protection laws.

    The US government has also filed similar recent lawsuits against Amazon, Google parent Alphabet, and Meta.

    Read the original article on Business Insider

  • 45% of Warren Buffett’s $398 billion portfolio is invested in 3 artificial intelligence (AI) stocks

    Legendary share market investing expert and owner of Berkshire Hathaway Warren Buffett

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    Warren Buffett led the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) holding company since 1965. He likes to invest in companies with steady growth, reliable profitability, strong management teams, and shareholder-friendly initiatives like dividend payments and stock buyback programs.

    That strategy is working: Berkshire delivered a 4,384,748% return between 1965 and 2023. That translates to a compound annual gain of 19.8%, which is nearly double the 10.2% annual return of the benchmark S&P 500 index over the same period. In dollar terms, an investment of $1,000 in Berkshire Hathaway stock in 1965 would have grown to over $43 million, whereas the same investment in the S&P 500, with dividends reinvested, would be worth just $312,333.

    Buffett isn’t the type of investor who chases the latest stock market trends, so you won’t find him piling into red-hot artificial intelligence (AI) stocks today. But three stocks Berkshire already owns are set to benefit tremendously from AI, and they account for more than 45% of the conglomerate’s entire $398.7 billion portfolio of publicly traded securities.

    1. Snowflake: 0.2% of Berkshire Hathaway’s portfolio

    Snowflake (NYSE: SNOW) developed its Data Cloud to help businesses aggregate their critical data onto one platform, where it can be analyzed more effectively to extract its maximum value. The service was designed for use by large, complex organizations that work with multiple cloud providers (like Microsoft Azure and Alphabet‘s Google Cloud), a situation that often leads to the creation of data silos.

    Then last year, Snowflake launched its Cortex AI platform, which allows businesses to combine ready-made large language models (LLMs) with their own data to create generative AI applications. Cortex also comes with a suite of AI tools such as Document AI, which allows businesses to extract valuable data from unstructured sources like invoices or contracts, and Snowflake’s Copilot virtual assistant, which can be prompted using natural language to provide valuable insights across the Snowflake platform.

    In the company’s fiscal 2025 first quarter, which ended April 30, Snowflake’s product revenue came in at $789.6 million, a 34% increase from the year-ago period. That’s a robust growth rate at face value, but it continued a trend of deceleration from prior quarters. Though Snowflake continues to invest heavily in growth initiatives like marketing and research and development, it is acquiring new customers at a slowing rate, and its existing customers are expanding their spending with it more slowly.

    Berkshire Hathaway bought its stake in Snowflake around the time of the data cloud specialist’s initial public offering in 2020, so it likely paid around $120 per share. The stock soared to as high as $392 in 2021, but it has since declined by 63% from that level and now trades at $142. Unfortunately, due to the company’s slowing growth, the stock still appears to be quite expensive, so this is one Berkshire pick investors might want to avoid (for now).

    2. Amazon: 0.5% of Berkshire Hathaway’s portfolio

    Berkshire bought Amazon (NASDAQ: AMZN) stock in 2019, and Buffett has often expressed regret that he didn’t spot the opportunity sooner. Amazon was founded as an e-commerce company, but it expanded into cloud computing, streaming, digital advertising, and now, AI.

    Its Amazon Web Services (AWS) cloud division designed its own data center chips which can be up to 50% cheaper for AI developers to use compared to its other infrastructure powered by Nvidia‘s chips. Plus, the Amazon Bedrock platform offers developers a library of ready-made LLMs from some of the industry’s leading start-ups, in addition to a family of LLMs called Titan that Amazon built in-house.

    In essence, AWS wants to become the go-to destination for developers looking to create their own AI applications. Various Wall Street forecasts suggest AI will add anywhere from $7 trillion to $200 trillion to the global economy in the coming decade, potentially making it Amazon’s largest opportunity ever.

    Berkshire Hathaway owns a $2 billion stake in Amazon, representing just 0.5% of the conglomerate’s stock portfolio. AI could drive substantial growth for the company over the long term, so if Buffett wished that position was larger before, he might be kicking himself for not adding to it sooner after this next chapter unfolds.

    3. Apple: 44.5% of Berkshire Hathaway’s portfolio

    Apple (NASDAQ: AAPL) is Berkshire Hathaway’s largest position by far. The conglomerate has spent around $38 billion accumulating shares starting in 2016, and its position is now worth $177.6 billion — even after it sold 13% of its stake (for tax reasons) earlier this year. Apple makes some of the world’s most popular devices including the iPhone, iPad, Apple Watch, AirPods, and the Mac line of computers.

    The company is entering the world of AI with its new Apple Intelligence software, which will be released alongside the iOS 18 operating system in September. It was developed in partnership with OpenAI, and it’s set to transform the user experience for Apple’s devices. Its Siri voice assistant will lean on the capabilities of ChatGPT, as will its writing tools like Notes, Mail, and iMessage, to help users rapidly craft content.

    There are more than 2.2 billion active Apple devices worldwide, meaning this company could soon become the largest distributor of AI to consumers. The upcoming iPhone 16 could drive a significant upgrade cycle, because it is expected to come with a powerful new chip capable of processing AI workloads on-device.

    Apple ticks all of Buffett’s boxes for a stock pick. It has grown steadily since Berkshire first invested in 2016, it’s consistently profitable, it has a resolute leader in CEO Tim Cook, and it returns truckloads of money to shareholders through dividends and stock buybacks. In fact, Apple just announced a new buyback program worth $110 billion — the largest in the history of corporate America.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post 45% of Warren Buffett’s $398 billion portfolio is invested in 3 artificial intelligence (AI) stocks appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Apple right now?

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    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia, and Snowflake. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.