Author: openjargon

  • Russian saboteurs burned down a Berlin factory to hit weapons supplies to Ukraine. Just one problem — the facility made car parts.

    View of a building partially destroyed in a fire on the premises of Diehl Metal's factory in Berlin-Lichterfelde.
    View of a building partially destroyed in a fire on the premises of Diehl Metal's factory in Berlin-Lichterfelde.

    • A massive fire at a factory in Berlin last month was set by Russian saboteurs, per WSJ.
    • They were targeting the flow of arms to Ukraine, the outlet reports.
    • But the factory, owned by Diehl Metal, makes parts for cars and electrical systems, not weapons.

    In early May, scores of German firefighters massed at a metal technology plant in southwest Berlin as it burned. Some 200 firemen were deployed to battle the blaze that Friday morning amid concerns that the flames could interact with chemicals in the factory.

    It was a major event for the neighborhood in Lichterfelde, with residents told to shut their windows and stay home as the rooftop belched a steady column of black smoke. At least four floors of the facility were eventually burned through.

    A month later, The Wall Street Journal reports that the fire at the Diehl Metal factory was an arson attempt carried out under Russia's auspices.

    Citing unnamed security officials, the outlet reported on Sunday that a NATO intelligence agency had intercepted communications showing Russia's involvement and passed it to German authorities.

    German outlet Bild also reported on the intercepted messages.

    The Journal reported that Russia's intention was to hit arms supplies to Ukraine. Diehl Metal's parent company also manufactures the IRIS-T anti-air systems given to Kyiv.

    But Diehl Group's arms manufacturer, Diehl Defence, only has a representative's office in Berlin, and its factories and major facilities are spread across southern Germany.

    Meanwhile, the Diehl Metal factory that burned down instead makes parts "primarily for the automotive and electrical industries," according to its website.

    The Journal reported, citing the unnamed security officials, that Germany hasn't blamed Russia for the fire because the intercepted messages aren't admissible in German courts.

    Still, the fire at the Diehl Metal factory has added fuel to concerns of Russian sabotage attempts on civilian infrastructure and military installations among Ukraine's European allies.

    Suspected targets in recent months include a warehouse in the UK that was set on fire and US military bases in Germany.

    The Financial Times reported Latvian President Edgars Rinkēvičs saying the spate of incidents and attempts was "testing our response" and that NATO was still determining how best to act.

    US State Secretary Antony Blinken said on May 31 that the alliance has been tracking sabotage attempts closely.

    "I can tell you that in the meeting of foreign ministers today virtually every ally was seized with this intensification of Russia's hybrid attacks," he said at a press conference in Prague. "We know what they're up to, and we will respond both individually and collectively as necessary."

    Diehl and the Russian Foreign Affairs Ministry did not immediately respond to requests for comment sent by Business Insider outside regular business hours.

    Read the original article on Business Insider
  • Bell Potter says these ASX dividend shares are top buys this month

    Excited woman holding out $100 notes, symbolising dividends.

    There are plenty of ASX dividend shares to choose from on the local share market.

    But which ones could be in the buy zone right now?

    Two that analysts at Bell Potter are very positive on are listed below. Here’s why they are bullish on these names:

    Rural Funds Group (ASX: RFF)

    The first ASX dividend share that could be a top buy is Rural Funds. It owns a portfolio of high-quality agricultural assets. This includes across industries such as orchards, vineyards, water entitlements, cropping, and cattle farms.

    Bell Potter highlights the significant discount that it trades at compared to historical averages and its attractive dividend yield. It said:

    RFF trades at a historical high discount to its market NAV per unit ($2.78 pu) at ~28% [now 25.5%]. While we are in general seeing large discounts to NAV in ASX listed farming and water assets to market NAV, the discount that RFF is trading appears excessive and we are seeing a valuable opportunity in RFF. While the timing of that value discount closing is difficult to call, investors are likely to be rewarded with a ~6% yield to hold the position until such a time as the asset class rerates. Furthermore, RFF aims to achieve income growth through productivity improvements, conversion of assets to higher and better use along with rental indexation which is built into all of its contracts with its tenants.

    The broker expects dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.07, this will mean yields of 5.85% for investors.

    Bell Potter currently has a buy rating and $2.40 price target on its shares.

    SRG Global Ltd (ASX: SRG)

    Bell Potter says that SRG Global could be an ASX dividend share to buy right now.

    It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.

    The broker believes SRG Global is well-positioned to benefit from increasing construction and mining services activity. It said:

    SRG’s short-to-medium term outlook is reinforced by Government-stimulated construction activity in the Infrastructure and Non-Residential sectors and increased development and sustaining capital expenditures in the Resources industry. The resulting expansion in infrastructure bases across these sectors will likely support increased demand for asset care and maintenance in the medium to long-term. We anticipate Mining Services will be a beneficiary of accelerating growth in iron ore and gold production volumes over the next five years.

    Bell Potter is forecasting the company to pay shareholders fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 84 cents, this will mean dividend yields of 5.6% and 8%, respectively.

    It has a buy rating and $1.30 price target on its shares.

    The post Bell Potter says these ASX dividend shares are top buys this month appeared first on The Motley Fool Australia.

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

    Before you buy Rural Funds 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 Rural Funds 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 24 June 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 positions in and has recommended Rural Funds Group. The Motley Fool Australia has recommended Srg Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why is this ASX share crashing 60% on Monday?

    a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.

    The City Chic Collective Ltd (ASX: CCX) share price is sinking like a very heavy stone on Monday.

    In late trade, the ASX retail share is down 60% to 12 cents.

    Why is this ASX share crashing 60%?

    Investors have been selling the plus sized women’s fashion retailer’s shares for a couple of reasons today.

    The first is the release of a very disappointing trading update that was announced last week. That update revealed that its group sales for FY 2024 are expected to be down ~30% to $187 million.

    Things are worse for its forecast pro forma adjusted EBITDA from continuing operations. That is expected to be a loss of $9.3 million for the 12 months.

    City Chic’s earnings guidance excludes the Avenue and Evans businesses. The US based Avenue business is being sold to Fullbeauty Brands for US$12 million (~A$18 million), subject to working capital adjustments at completion. This compares to its purchase price in 2019 of US$16.5 million

    Whereas the Evans business was sold earlier in the financial year. Once again, at a significantly lower price than what management paid to acquire it.

    Management notes that these divestments align with the company’s strategy of focusing on the core City Chic customer in ANZ and the US. Completion of the Avenue sale is scheduled to occur in July 2024.

    What else?

    Despite its abject trading performance and acquisition record, the ASX share has been able to raise money from investors through a capital raising.

    However, unsurprisingly given the state of the company, it was forced to do so at a huge discount to the prevailing share price.

    This morning, City Chic announced the successful completion of its institutional placement and the institutional component of its entitlement offer. In total, raised proceeds of $14.6 million (before costs) at a 50% discount of 15 cents per new share.

    The release notes that the placement and institutional entitlement offer attracted strong demand from existing institutional shareholders of City Chic. In addition, it introduced a number of new investors to its institutional shareholder base.

    The company’s CEO, Phil Ryan, commented:

    We are delighted with the exceptional level of support received from our existing institutional shareholders and very pleased to obtain the support of some new institutions. Their collective support positions us to build on the positive momentum our recent initiatives are generating going into FY25.

    City Chic’s shares are now down approximately 98% since the start of 2022.

    The post Why is this ASX share crashing 60% on Monday? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in City Chic Collective Limited right now?

    Before you buy City Chic Collective 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 City Chic Collective 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 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.

  • Walmart says this store manager could earn half a million dollars this year — and he doesn’t have a college degree

    The checkout queue in Walmart.
    The checkout queue in Walmart.

    • Mustafa Tovi, 45, draws a base salary of $168,000 as a Walmart store manager.
    • But bonuses and stock grants mean Tovi can make up to $524,000 a year, Walmart said.
    • Earlier this year, Walmart announced a new managerial pay plan that helps boost staff retention.

    Mustafa Tovi, 45, has spent more than half his life working at Walmart and has no regrets building his career with the big-box retailer.

    Tovi told Fortune in a story published on Sunday that he draws a six-figure salary from Walmart. The Walmart manager said his base salary was recently raised to $168,000, a 17% increase from his original base salary of $143,000 last year.

    And that's not all. A Walmart spokesperson told Fortune Tovi could make up to $524,000 after factoring in his performance bonus and stock grants.

    "I thank God every day, I thank Walmart every day because of Walmart, the reason why I have what I have today," Tovi said of his employer.

    The Kurdish immigrant joined the retailer in 1999 as a part-time employee and was paid $8 an hour before slowly climbing up the ranks, Fortune reported.

    Tovi, who says he doesn't have a college degree, was recently promoted to emerging market manager after serving as a store manager for 16 years.

    The longtime Walmart employee is but one of the many beneficiaries of the company's new managerial pay plan, which is geared toward boosting employee morale and reducing staff turnover.

    Earlier this year, Walmart said it was raising the average base salary of store managers to $128,000 from $117,000. If managers hit their targets, they are also entitled to a bonus equivalent to 200% of their base salary and stock grants worth up to $20,000.

    "I almost fainted when I found out," a Walmart Supercenter manager Greg Harden told Bloomberg last month.

    Representatives for Walmart didn't immediately respond to a request for comment from BI sent outside regular business hours.

    Read the original article on Business Insider
  • Paladin Energy shares on ice as fission-powered acquisition rumours grow

    A fit man sits and prepares to dive into a hole made in frozen ice.

    The S&P/ASX 200 Index (ASX: XJO) is having a pretty nasty start to the trading week so far this Monday. At the time of writing, the ASX 200 has tanked by around 0.75%, dragging the index down to just under 7,740 points.

    But perhaps mercifully, Paladin Energy Ltd (ASX: PDN) shares aren’t joining the pity party today.

    This ASX 200 uranium stock closed at $13.24 a share last week, and that’s where the shares remain today. This morning, Paladin announced that its shares would be placed in a trading halt, with immediate effect, until the company makes a further announcement or until the morning of this coming Wednesday, 26 June.

    This announcement was vague in detail, as is often the case for the first states of a trading halt. However, Paladin did admit that the coming announcement will relate to “a potential acquisition“.

    That’s all we know for sure right now, as there has been no other official news or announcements out of Paladin at the time of writing.

    However, there are some rumours swirling around that could give us a fair idea of what might be going on with Paladin shares today.

    Paladin shares halted as ASX uranium stock looks for acquisitions

    Paladin is arguably primed to make an acquisition. The company’s shares have gained an astonishing 80% or so over the past 12 months alone, a gain that has swelled to 122.5% over the past two years. With the company now commanding a market capitalisation of almost $4 billion, it certainly would have a lot of financial firepower to deploy for an acquisition by issuing new shares.

    As reported by the Australian Financial Review (AFR) this morning, that is exactly what Paladin has in mind. The AFR names Fission Uranium Corp (TSE: FCU) as a likely target for Paladin.

    The article points out that Fission Uranium is “right in [Paladin’s] backyard”, given its flagship Patterson Lake South Project is located in Canada’s Athabasca Basin.

    The company would also be in Paladin’s acquisition range, given its current market capitalisation of C$863.9 million ($950.22 million).

    Like Paladin, Fission Uranium has also had a stellar time on the Toronto Stock Exchange over recent years. Its shares have boomed 77.6% over the past 12 months.

    But until Paladin issues some confirmations, we can’t be sure it is Fission Uranium that the company has set its eye on. The AFR also names the ASX-listed Boss Energy Ltd (ASX: BOE) as another potential target. However, Boss would be a much bigger target for Paladin to hunt, given its current worth of $1.7 billion.

    Either way, it will be interesting to see what Paladin has to say this week when it finally lays out its plans.

    The post Paladin Energy shares on ice as fission-powered acquisition rumours grow appeared first on The Motley Fool Australia.

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

    Before you buy Boss Resources 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 Boss Resources 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 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.

  • Guess which small cap ASX stock could rise 50% in a ‘transformational year’

    A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today

    If you’re not averse to investing at the small side of the market, then it could be worth checking out Aroa Biosurgery Ltd (ASX: ARX).

    That’s because analysts at Bell Potter believe the small cap ASX stock could rise materially from current levels.

    What is this small cap ASX stock?

    Aroa Biosurgery is a soft-tissue regeneration company. It states that it is committed to “unlocking regenerative healing for everybody.”

    It develops, manufactures, sells, and distributes medical and surgical products to improve healing in complex wounds and soft tissue reconstruction. The small cap ASX stock’s products are developed from a proprietary AROA ECM technology platform. It is a novel extracellular matrix biomaterial derived from ovine forestomach.

    ‘A potentially transformational year’

    Bell Potter believes that FY 2025 could be a transformational year for the company that could see its first profit and free cash flow. It said:

    FY25 is a potentially transformational year for ARX with the likelihood of a maiden profit and positive free cash flows. We believe these have been the drivers of the resurgence in market value of the stock, spurned on by the positive revenue and earnings guidance provided at the recent full year update (for FY24).

    Another positive is that there could soon be some clinical trial data available that the broker feels could be supportive of sales. It adds:

    While the ARX products appear widely regarded and have been the subject of literally dozens of published articles, the absence of gold standard data from randomised clinical trials is a gap. Recruitment of clinical trials in the key area of lower limb salvage and large trauma wounds is problematic, however, to this end the company has recently completed enrolment of its Myriad Augmented Soft Tissue Regeneration Registry (MASTRR) with clinical data expected to commence in late FY25.

    In addition, there’s potential for another clinical trial to open up the company to a market with a US$1 billion opportunity. The broker said:

    In addition, ARX will shortly complete recruitment of its 120 patient randomised study in diabetic foot ulcer (DFU) patients investigating the wound healing properties of its Symphony product with headline data due in 2H FY25. Data from a recent retrospective real world study is highly supportive of the wound healing properties of Myriad in severe DFU cases. A successful outcome (which we believe is likely) may unlock the market in outpatient wound care for DFU’s where TAM is estimated at >US$1.0bn.

    Big return potential

    This morning, Bell Potter has reiterated its buy rating and 90 cents price target on the small cap ASX stock.

    Based on its current share price of 60 cents, this implies potential upside of 50% for investors over the next 12 months.

    Overall, this could make Aroa Biosurgery worth a closer look. Particularly if you’re looking for some small cap exposure.

    The post Guess which small cap ASX stock could rise 50% in a ‘transformational year’ appeared first on The Motley Fool Australia.

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

    Before you buy Aroa Biosurgery 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 Aroa Biosurgery 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 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.

  • How rich are the Guzman Y Gomez founders following the company’s IPO?

    Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.

    The big piece of ASX news last week (and arguably in 2024 to date) was the successful initial public offering (IPO) of Guzman y Gomez Ltd (ASX: GYG). Guzman stock floated on the ASX last Thursday, hitting the ASX boards at $22 a share.

    Well, that $22 price didn’t last long. Within minutes of the company beginning its ASX listing, Guzman shares had topped $30 each, reaching a high of $30.99 on Thursday afternoon.

    That euphoria has since died off a little, but at the time of writing, Guzan shares are still trading at $28.78 each, a good 30.8% or so above the company’s IPO price.

    It goes without saying that Guzman y Gomez shares’ ASX debut has been a roaring success for the company’s founder, senior management, and early investors.

    But exactly how successful has it been?

    How rich are Guzman y Gomez’s founders post-IPO?

    Well, last week, my Fool colleague Mitchell went through Guzman’s largest shareholders after the company went public.

    Its two largest shareholders are early investors TDM Growth Partners and Barrenjoey Capital. Other significant investors include Aware Super, Gaetano Russo, former board member Stephen Jermyn, and Richard and Kate Bell.

    But Guzman’s co-founders Steven Marks (also currently Guzman’s co-CEO) and Robert Hazan (retired) both remain significant shareholders of the company. Marks currently owns 7,507,250 shares, or 7.41% of the company, through the Marks family’s Evan Jason Pty Ltd. He also owns another 1,212,000 shares, or 1.2%, in his own name.

    Meanwhile, Hazan owns 4,527,500 shares through his family company RBH Pty Ltd. That’s worth 4.47% of Guzman’s outstanding shares.

    When Guzman IPOed at $22 a share, this would have valued Marks’ Evan Jason stake in the company at approximately $165.16 million, plus his own shares at $26.66 million. Hazan’s stake would have been worth $99.61 million.

    But at today’s pricing following the successful IPO, Marks would now have a stake worth a whopping $250.94 million (combined). Not a bad return for a few days.

    Hazan, in turn, would be sitting on a fortune valued at roughly $130.3 million right now.

    Of course, most of these founders’ shareholdings are now under a voluntary escrow period. 25% of the co-founders’ shares will remain escrowed until Guzman releases its earnings results for the first half of the 2025 financial year, provided the shares are trading at least 20% above the company’s IPO price of $22.

    The remaining shares will be escrowed until the company releases its results for the full 2025 financial year, which will end on 30 June 2025.

    So Marks and Hazan can’t exactly take advantage of the company’s explosive IPO results right now. But even so, both will undoubtedly be walking with a spring in their steps today.

    The post How rich are the Guzman Y Gomez founders following the company’s IPO? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Guzman Y Gomez right now?

    Before you buy Guzman Y Gomez 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 Guzman Y Gomez 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 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.

  • Barcelona plans to ban short-term rentals as cities rethink the Airbnb effect

    Sagrada Familia basilica in Barcelona
    The Basílica de la Sagrada Família is one of Barcelona's most famous sites.

    • Barcelona plans to end short-term rentals by 2029 to address the housing crisis.
    • Rents in Barcelona rose 36% from 2018 to 2022 amid a broader Spanish rental crisis.
    • Opponents argue the ban will not significantly impact housing availability or rental prices.

    Barcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market.

    In a blow to platforms like Airbnb, the Spanish city will stop issuing new licenses and will not renew existing ones, Barcelona's mayor, Jaume Collboni said at a press conference on Friday. By 2029, no homes will be allowed to operate as short-term tourist accommodations.

    "The city cannot allow such a large number of flats to be used for tourist activity at a time of difficulty of access to housing and when the negative effects of tourist overcrowding are obvious," Collboni said.

    Like other Spanish cities, Barcelona requires properties to have a tourist license before they can be listed as rentals. There are currently about 10,000 houses registered as tourist rentals.

    The move is the latest by Spanish authorities to ease the housing crisis and reduce the cost of renting. Rents in Barcelona spiked 36% between 2018 and 2022, while those in Spanish capital Madrid were up 16%, according to an EY property report.

    Barcelona became a short-term rental hotspot as tourists flocked to the city: The number of tourists increased from 7.4 million in 2012 to 15.6 million last year. Government officials have sparred with Airbnb and similar platforms over the years, imposing fines and various kinds of regulation that stopped well short of the new plan to not renew licenses.

    Airbnb did not immediately respond to Business Insider's request for comment, sent outside standard business hours.

    In April 2023, the Spanish government passed a historic housing law to address the issue, which included caps on rent increases, price limits in special zones, and an end to surprise evictions. Earlier this year, the government also scrapped "Golden Visas" to non-EU nationals, saying the visa program was adding to housing supply pressures.

    But critics say that the Barcelona ban will do little to change the rental climate.

    Opposition politician Damià Calvet said that not all 10,000 homes will go back on the market.

    "Pretending that all 10,000 will have a residential use is not realistic," he told local media. Calvet said not all homes with licenses are actually rented out to tourists — many owners keep the license just to add value to the property in case they want to sell down the line.

    "Tourist apartments represent just 0.77% of Barcelona's housing stock," Enrique Alcantara, president of the Barcelona Tourist Apartments Association, told media after the announcement. "All it will do is increase the number of illegal tourist rentals."

    Global short-term rental restrictions

    Other cities are similarly eyeing short-term rental restrictions to manage skyrocketing housing costs in what's been deemed the "Airbnb effect."

    In Irvine, California, a ban on short-term stays in 2018 brought the cost of long-term rentals down 3%, or an average decrease of $114 a month, according to a study published in Real Estate Economics. Late last year, New York City implemented a similar move.

    Cities including Vancouver, Tokyo, London, Amsterdam, and Paris have all placed restrictions on the short-term rental market.

    Some Southeast Asian countries have banned short-term rentals completely.

    In Singapore, it is illegal to rent any residential property for less than three months, while Thailand, like Irvine, forbids rentals for less than thirty days.

    Read the original article on Business Insider
  • China is greenlighting possible death penalties for ‘diehard’ supporters of Taiwan gaining independence

    Chinese police officers wear protective masks at Beijing Station before the annual Spring Festival on January 22, 2020 in Beijing.
    Chinese police officers wear protective masks at Beijing Station before the annual Spring Festival on January 22, 2020 in Beijing.

    • China officially says that supporting Taiwan's independence can be a crime.
    • Punishments include prison sentences of more than 10 years and even the death penalty.
    • It's the first time the country has so clearly outlined a set of legal guidelines aimed at Taiwan.

    China on Friday outlined a list of behaviors that it defines as criminal acts related to supporting Taiwan's independence, saying punishments may go as far as the death penalty.

    Top legal bodies in the country — including its Supreme Court, national prosecutors, and three government ministries — jointly issued a statement telling courts and prosecutors at all levels in China to "severely punish 'Taiwan independence' diehards."

    These are China's first official guidelines designating support for Taiwan's independence as a crime, underscoring how Beijing is hardening its stance toward the self-governed island.

    Taiwan declaring independence has long been a red line set by Beijing.

    Broad definitions of the crimes include promoting the idea of "two Chinas" or "one China, one Taiwan" and creating an organization that tries to attain Taiwan's independence. Relying on "foreign forces" and institutions to achieve independence was also listed.

    Notably, the list criminalizes public attempts to undermine the concept that Taiwan is part of China in the "fields of education, culture, history, news media, etc."

    The punishments include prison sentences or detention of up to 10 years, with that limit removed for those leading organizations that try to help Taiwan secede.

    Crimes deemed "particularly heinous" may carry the death penalty, the authorities added.

    The new guidelines come just a month after Taiwan's new president, Lai Ching-te, assumed office on May 20.

    Lai's political faction, the Democratic Progressive Party, has focused heavily on resisting China, and his securing of power this year has prompted a building wave of aggressive posturing from Beijing.

    When Lai took office in May, the Chinese military conducted live-fire exercises around Taiwan. China has also continually issued public statements and scenario videos hinting at how it may attack the island.

    China has no legal jurisdiction in Taiwan, but recommendations like the one issued on Friday are likely to put a further dampener on Taiwanese business.

    Taipei has already been dropping support for long-standing tourism programs to China, citing worries that it may not be safe for its people to travel to the mainland.

    And Taiwanese investment in China, which was on the rise in the late 2000s, has plummeted to its lowest levels since 2001.

    In 2023, new spending in China from Taiwan dropped nearly 40% to $3.06 billion despite the island reporting investment highs of $26.6 billion that year.

    Meanwhile, its companies rapidly expanded investment in the US from $1.1 billion in 2022 to $9.7 billion the next year.

    Read the original article on Business Insider
  • Leading brokers name 3 ASX shares to buy today

    Contented looking man leans back in his chair at his desk and smiles.

    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:

    ResMed Inc. (ASX: RMD)

    According to a note out of Citi, its analysts have retained their buy rating and $36.00 price target on this sleep disorder treatment company’s shares. This follows the release of trial results from Eli Lilly And Co (NYSE: LLY) in relation to tirzepatide (Mounjaro) as a treatment of moderate-to-severe obstructive sleep apnoea (OSA) in adults with obesity. While Citi acknowledges that there is a risk that a portion of patients with mild OSA symptoms might drop CPAP devices over time because of the weight loss drug, it doesn’t appear overly concerned. Particularly given that stronger results were achieved from a combination of Mounjaro and CPAP devices. The ResMed share price is trading at $27.83 today.

    South32 Ltd (ASX: S32)

    A note out of Macquarie reveals that its analysts have retained their outperform rating on this mining giant’s shares with an improved price target of $4.50. This follows the broker’s review of commodity prices. Macquarie remains very positive on a number of commodities that South32 produces such as aluminium, met coal, and nickel. In light of this, it has boosted its earnings estimates for the coming years and has named South32 as its top pick among the large cap miners right now. The South32 share price is fetching $3.63 on Monday afternoon.

    Treasury Wine Estates Ltd (ASX: TWE)

    Analysts at Morgans have retained their add rating on this wine giant’s shares with an improved price target of $15.03. The broker was pleased with a recent update on its Penfolds business and notes that management has reaffirmed its earnings guidance for FY 2024. It was even more pleased to see that its earnings growth is likely to accelerate next year thanks to US luxury availability, the acquisition of DAOU Vineyards, and the recent removal of Chinese wine tariffs. Overall, the broker sees potential for Treasury Wines to deliver double-digit earnings growth over the medium term if management can execute on its plans. The Treasury Wine share price is trading at $12.27 at the time of writing.

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

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    Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in ResMed and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.