Author: openjargon

  • What are brokers saying about BHP shares following the miner’s quarterly results?

    a man in a high visibility vest and hard hat holds a thumbs up at a mine site with heavy equipment in the background.

    BHP Group Ltd (ASX: BHP) shares have garnered significant attention following the miner’s recent quarterly results.

    With a share price of $44.75 in late Friday trading, investors are no doubt keen to know if BHP shares present a good buying opportunity. Let’s dive into what the brokers are saying about the mining giant.

    Are BHP shares good value?

    According to broker Goldman Sachs, BHP shares are currently trading at an attractive level. The investment bank has a buy rating with a $49/share price target on the company over the next 12 months, a potential upside of 9.5%. For a $10,000 investment, this could mean growth to around $10,950 if the forecast proves accurate.

    Then, there’s the miner’s dividend potential.

    BHP is renowned for its generous dividends. With a trailing dividend yield currently at 5.08%, it remains a strong choice for income-focused investors.

    According to my colleague James last month, consensus estimates are for BHP to pay fully franked dividends of $2.30 per share in FY 2024. This translates to a dividend yield of around 5.1%, adding $510 in dividends to a $10,000 investment over the next 12 months.

    What are analysts saying?

    Goldman Sachs notes that BHP is trading at approximately 6x its next 12-month projected EBITDA, slightly above the 5.5x multiple of rival mining giant Rio Tinto Ltd (ASX: RIO).

    In my opinion, this premium is supported by BHP’s strong operating margins and presence, particularly in the Pilbara iron ore region. According to the OECD, the Pilbara region contributed 3.4% of Australia’s gross domestic product (GDP) in 2021.

    BHP also announced last year its plans to invest $4 billion in the Pilbara region to develop c.550MW of wind, solar and battery storage to reduce operating costs.

    Goldman also justified the premium by highlighting BHP’s potential for growing copper production in Chile and South Australia.

    Despite some concerns about limited upside following recent gains, brokers still see value in BHP shares. In April, Morgans placed an add rating with a $48.30 price target, implying a potential upside of 7.9%.

    Similarly, Citi rates BHP as a buy with a $48.00 price target, suggesting a total return of more than 10% when including dividends.

    Goldman Sachs maintains its buy rating with a $49.00 price target, as mentioned earlier.

    Passive income from BHP shares

    BHP shares are a popular choice for passive income investors. Let’s run the numbers. Assuming you purchase 100 shares at $44.75, you would invest $4,475 of your hard-earned capital.

    Goldman Sachs forecasts fully franked dividends of US$1.45 (A$2.20) per share for FY 2024, resulting in A$220 in passive income. For FY 2025, the expected dividends of US$1.26 (A$1.97) per share would yield A$197. Over the next few years, dividends are projected to slightly decrease but still provide solid returns, as per Goldman’s estimates:

    • FY 2026: US$1.22 (A$1.85) per share, yielding A$185
    • FY 2027: US$1.12 (A$1.70) per share, yielding A$170
    • FY 2028: US$1.07 (A$1.62) per share, yielding A$162

    Note: All AUD figures are quoted at the exchange rate of $1 AUD = $0.66 USD at the time of writing.

    Foolish takeaway

    BHP’s recent quarterly results have prompted positive feedback from brokers, highlighting its attractive valuation, strong dividend yield, and growth potential in copper production.

    With a current share price of $44.75 and a trailing dividend yield of 5.08%, BHP shares may be an opportunity for both growth and passive income investors. The mining giant certainly appears to have the backing of our top brokers.

    The post What are brokers saying about BHP shares following the miner’s quarterly results? appeared first on The Motley Fool Australia.

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

    Before you buy Bhp 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 Bhp Group wasn’t one of them.

    The online investing service heҀ™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 Zach Bristow 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.

  • Fisker cuts deeper with new wave of summer layoffs

    Fisker warned staff they might be laid off if efforts to course correct are unsuccessful.
    Fisker launched another round of layoffs this week, multiple sources told Business Insider.

    • Fisker initiated another round of layoffs on Wednesday, multiple sources told Business Insider.
    • The company has gone through a series of cuts and warned it might go out of business.
    • Henrik Fisker has said the company is in talks with other automakers regarding a potential acquisition.

    Embattled EV startup Fisker kicked off another round of layoffs on Wednesday, four sources with knowledge of the issue told Business Insider.

    Fisker has made multiple cuts to its workforce over the last few months. In February, Fisker CEO Henrik announced plans to cut 15% of its staff. Most recently, Fisker sent a round of layoff notices on April 29.

    The series of cuts are designed to eventually bring the workforce down to a skeleton crew of only "mission critical" staff, one Fisker employee with knowledge of the issue said.

    The total number of employees impacted by this latest staff reduction wasn't clear. A spokesperson for Fisker declined to comment.

    Fisker has warned multiple times over the past few months that the company might go out of business within the year. On April 29, the company sent out notices to staff in compliance with the Worker Adjustment and Retraining Notification Act, warning employees that they might be laid off in two months if the company is not able to find a buyer or additional funding.

    That same month, Fisker had told workers in an all-hands meeting that it was in talks with four automakers regarding a potential buyout.

    Last week, Fisker's CEO told staff in a companywide meeting that the company had reached out to other automakers in addition to the initial four regarding an acquisition.

    "I do hope we're closing in on something serious here in weeks rather than months," Henrik Fisker said at the time.

    In March, Business Insider first reported that Fisker had delivered over 6,000 of its all-electric SUV, the Fisker Ocean, since its launch. A year prior, the company said it had "approximately 65,000" reservations for the vehicle ahead of its US launch in June 2023, but the company has faced negative reviews and cancellations since its launch.

    Do you work for Fisker or have a tip? Reach out to the reporter via a non-work email at gkay@insider.com

    Read the original article on Business Insider
  • 3 easy ways to boost the returns of your ASX shares

    a man with a wide, eager smile on his face holds up three fingers.

    It goes without saying that anyone who invests in ASX shares wants to maximise the returns on their investment. After all, the only real reason to buy ASX shares in the first place is to build wealth. And achieving the highest rate of return possible is the best way to ensure you are effectively increasing your wealth with the share market.

    But of course, doing this is far easier said than done.

    Luckily, today we’ll be discussing three simple ways any ASX investor can boost their share market returns. These are brought to us by exchange-traded fund (ETF) provider BetaShares, which just released a report on this very subject.

    Three easy ways to juice the returns of your ASX shares

    Pay the lowest management fees possible

    Passively investing in ASX shares using index funds or ETFs is an investment strategy that has exploded in popularity over the past decade or two. Many investors love the instant diversification and hands-off approach this strategy allows.

    But passive investors who don’t ensure they are paying the lowest management fees possible for their ASX shares can really hobble the compounding process and handicap future returns. Betashares ran a scenario comparing the impacts of investing in a high-cost ETF compared to a low-cost fund.

    The provider found that someone who invests $1,000 a month into a fund returning 6% per annum but charging 1% in annual management fees would end up with 1,526,020 after 40 years. But let’s assume that investor opted for a fund that also returns 6% every year but charges just 0.04% in fees instead.

    If so, they would instead enjoy a final balance of $1,970,010 after those 40 years. That’s a difference of $443,900. Put another way, that difference in management fees over those four decades amounts to a performance gap of 29%.

    So make sure you are paying the lowest fees possible if you opt for a passive ASX shares investing strategy.

    Minimise brokerage costs on your ASX shares

    This is another simple fix that can save an ASX investor a few pretty pennies over time.

    Brokerage costs have been falling on the ASX for years now. However, most investors can still expect to pay a brokerage fee every time they buy or sell ASX shares. These dead-wood costs can really add up after a while if one does not work to keep them in check.

    Remember, the more frequently one invests, the more one will pay in brokerage fees. Someone who invests $500 every fortnight will probably pay double the brokerage fees of someone ploughing in $1,000 per month.

    Free brokerage is still rare on the ASX and may not be as good as it seems. Saying that, Betashares found that someone paying $15 in brokerage every month would be $29,550 worse off after 40 years than an investor who never forks out for transaction fees.

    Be mindful of your cash

    Holding a certain proportion of one’s overall wealth in liquid cash is a good idea. We here at the Motley Fool argue that everyone should keep an emergency fund of cash ready for a rainy day. For any unexpected costs, in other words. The last thing anyone who doesn’t have spare cash ready to go needs is an unexpectedly large cost that requires unnecessary borrowing or untimely selling of shares.

    However, keeping too much of one’s wealth in cash can be harmful to one’s long-term wealth. This opportunity cost against ASX shares has reduced significantly with the current high interest rate environment. Even so, many Australians still don’t keep their cash in accounts that pay the highest interest rates.

    Betashares found that there is a monumental cost of keeping more cash around for longer. It found that someone who invests $1,000 a month into that 6%-retuning index fund would be $131,433 better off after 40 years than someone who simply saves up their cash all year and invests $12,000 in an annual lump sum.

    That does assume our investor earns zero interest on that cash while it’s sitting in the bank. Even so, this is a good exercise to show off the benefits of investing in ASX shares as much as you can, as soon as you can.

    The post 3 easy ways to boost the returns of your ASX shares appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 5 May 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.

  • What’s the average Australian superannuation balance at age 30 in 2024?

    A couple sitting in their living room and checking their finances.

    It’s probably fair to say that Australians aged around 30 years old are probably some of the country’s most uninformed groups when it comes to superannuation. With retirement still decades away, many 30-somethings don’t find super all that interesting, at least compared to other pursuits that are normal at this kind of age, such as establishing a successful career or starting a family.

    But as anyone who understands the power of compounding knows, 30 is a great age to start taking your superannuation seriously. After all, those who are in their 30s today might not have too much else to rely upon if they wish to enjoy a long and comfortable retirement free of financial worries.

    Those in their 30s are also some of the first Australians who would have benefitted from high compulsory superannuation payments for the entirety of their working lives.

    Over the past few months, we’ve looked at the average Australian superannuation balances of those Australians close to the retirement age, as well as those who still have a decade or two left before they stop working. We’ve even looked at what kind of money those who managed their own super with a self-managed super fund (SMSF) have.

    But today, let’s get inside the average super fund of someone aged between 30 and 34 and see what we find.

    What’s the average Australian superannuation balance at age 30?

    We’ll start by looking at data from the Australian Taxation Office (ATO)’s Taxation Statistics report, which covers the 2021 financial year.

    This report reveals that over the 2021 financial year, the average super fund of someone aged 30-34 contained $51,400. The median balance, which is less skewed by outliers, was $38,681.

    For men, the average balance was $56,344, while the median came in at $41,849.

    For women, we got an average balance of $46,289 and a median of $35,716.

    These numbers should generate at least some consternation amongst Australians in their 30s right now. As reported by the ABC this year, it is estimated that someone aged 30 today should have at least $59,000 in superannuation if they wish to be on track for a ‘comfortable’ retirement by the time they hit 67.

    The Association of Super Funds Australia (ASFA) currently defines a comfortable retirement as one funded by at least $69990,000 in super if one is in a couple, or $595,000 for singles.

    This also assumes those retiring own their own home, rely on a part pension and withdraw their super as a lump sum.

    The ‘comfortable’ retirement they will then enjoy includes private health insurance, provisions for buying household goods, a quality car, occasional international and domestic travel, as well as good mobile and home internet connections.

    Despite these assumptions, it appears that those around 30 today have some ground to make up with their super funds if they wish to enjoy a comfortable retirement.

    The post What’s the average Australian superannuation balance at age 30 in 2024? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 5 May 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.

  • I drove the Chevy Equinox EV. It’s a solid, much-needed addition to the electric crossover market

    A Chevrolet Equinox EV parked in a driveway
    A Chevrolet Equinox EV parked in a driveway

    • The Equinox EV is a solid addition to the electric crossover market.
    • I found that Super Cruise elevates the experience behind the wheel.
    • The Equinox EV is priced and designed to compete directly with Tesla's mass-market cars.

    There's another electric Chevrolet crossover on the market as the bowtie brand leans into EVs while others are pulling back.

    I got to take the new all-electric Equinox EV on a quick drive in Metro Detroit and came away impressed with the little hatchback's performance.

    Two trims are available on dealer lots today, with a starting price of $43,295. That's a new, much-needed option in the sub-$50,000 price range for EVs. GM is also promising even cheaper options for the Equinox later this year, with a base model that starts at $34,995.

    The Equinox EV has an EPA-estimated range of 319 miles. Its DC fast-charging capability of up to 150 kW enables 77 miles of range to be added in 10 minutes of charging, according to GM estimates.

    The Equinox EV also boasts plenty of cargo space, with 57.2 cubic feet of storage with the second row folded down.

    This little Tesla fighter, priced and designed to compete directly with Model 3 and Model Y, delivered a smooth ride on GM's pre-selected course that included surface road and highway driving.

    The Tesla influence on the Equinox EV is undeniable
    A close-up of the mechanical door handle on the Equinox EV
    A close-up of the mechanical door handle on the Equinox EV

    The first things I noticed as I approached the Equinox EV for my test drive were the door handles. When the vehicle is locked, the handles lay flush with the door. Unlocked, they pop out like a level to pull and open the door.

    This is a direct nod to Tesla, which originated this door handle design. On a mostly sunny 75-degree day, they didn't give me any trouble, but cold weather does seem to cause trouble for these mechanical door handles.

    The styling on the Equinox EV turns a milquetoast mom car into a stylish prowler
    A Chevrolet Equinox EV parked in a driveway
    A Chevrolet Equinox EV parked in a driveway

    The gas-powered Equinox is one of many boring crossovers in Chevrolet's portfolio. The layman might not be able to distinguish it from a Trax or a Blazer.

    But the electrified version is designed to stand out, with a hood that swoops down to narrow headlights, helping give the crossover a menacing stance. More sculpting around the back wheels also gives it a wider appearance, too, making it more distinct from its gas-powered counterpart.

    Sleeker design is a must-have in the electric crossover market, which also includes lookers like the Hyundai Ioniq 5 and the Mustang Mach-E.

    Unlike the sparse Tesla models, Equinox EV has buttons, nobs, and vents that accent the space
    Interior view of front cabin in a 2024 Chevrolet Equinox EV RS.
    Interior view of front cabin in a 2024 Chevrolet Equinox EV RS.

    I've always found the sparse interior of the Model 3 and Model Y to feel a bit cavernous, so I was glad to see a lot of accenting and design cues built into the Equinox EV's interior.

    Some trims also have more fun color combinations for the leather seating to add a bit of personality inside the car.

    Still, overall I found the interior of the electric car to be somewhat underwhelming. I've sat in a lot of Chevrolet interiors over the years, this one didn't feel all that different or special.

    Super Cruise elevates the experience in the Equinox EV
    The view from behind the wheel of the Chevrolet Equinox EV while it drives using the hands-free Super Cruise technology.
    The view from behind the wheel of the Chevrolet Equinox EV while it drives using the hands-free Super Cruise technology.

    While the Equinox EV's interior leaves a bit to be desired, the optional Super Cruise hands-free technology elevates the driving experience to make the Equinox EV feel more special than your average crossover.

    I sat back and enjoyed the sunny ride on the highway while Super Cruise navigated traffic.

    The Equinox EV is a solid addition to the electric crossover market, but Chevy has a lot to prove with Ultium
    A close-up of the Chevrolet Equinox EV badge
    A close-up of the Chevrolet Equinox EV badge

    Overall, I enjoyed my time behind the wheel of the Equinox EV. It delivers the zippy ride you expect from a battery-powered car, and Chevrolet's engineers have tuned the car to hug corners and feel smooth and stable out on the road.

    There aren't a ton of extra frills or surprises, but the Equinox EV gave me just about everything I would want out of an electric crossover — the type of EV I'd be most likely to add to my own driveway.

    But I can't help but wonder how some of the troubles with the Ultium technology in the Blazer rollout will affect its chances up against Hyundai, Kia, and Tesla. Electric car customers today are less patient than the techy early adopters who pioneered the market.

    Chevrolet is hoping to take advantage of this shift in customer preferences with its trusted reputation as a legacy brand, flooding the market with EVs while others are pulling back. But the Blazer's messy launch, which included a stop-sale to repair software issues, might have an effect on how even the most loyal Chevrolet owner views the Equinox EV.

    Read the original article on Business Insider
  • A fake Amazon dating app that ‘sells’ people at various price points is going viral

    online dating
    After browsing the selection of potential dates on Amazon Dating, users can click and "buy" them.

    • A group of content creators, with an animation company Thinko, created Amazon Dating, a satirical dating platform where people can fake-purchase their dream date.
    • The website looks eerily similar to Amazon's real site and has functional features that allow users to "buy" the featured dates.
    • Some people said putting a price on people, especially on black people during Black History Month, is problematic. Some found Amazon Dating humorous for drawing parallels with the toxic nature of online dating.
    • Visit Insider's homepage for more stories.

    Online dating can often make people feel more like commodities than singles looking for love, with photo-heavy profiles for others to swipe through, and suggested chat-up lines.

    With that in mind, content creators Suzy Shinn, Atlas Acopian, and Morgan Gruer collaborated with animation company Thinko and created the satirical service Amazon Dating.

    On it, users can "buy" people they want to date just as easily as they would a book, a vacuum cleaner, or an avocado-shaped pool float with a removable pit on Amazon.com.

    Every person who's "for sale" on Amazon Dating comes with a price, reviews, a bulleted description of hobbies, and even a drop down to choose how tall you want them to be.

    They've also added relationship-related features that match Amazon's typical style. Instead of offering different sizes for the humans featured, the Thinko team added "love language" options for each person, so you can choose whether your digitally-designed dream date enjoys words of affirmation, acts of service, physical touch, or another love language from Gary Chapman's best-selling book.

    amazon dating karen
    Karen's hobbies include speaking to the manager and the police, according to Amazon Dating.

    Different people cost different amounts, which raised some concerns

    When you go to the fully functional Amazon Dating homepage, you can see different people as if they were available to purchase.

    amazon dating
    The Amazon Dating homepage.

    Although Thinko noted that Amazon Dating was a joke, some viewers didn't like that they monetized humans at different prices.

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    Others said they found the project funny.

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    Amazon Dating allows you checkout like you would on the real Amazon website

    After browsing the selection of potential dates on Amazon Dating, users can click and "buy" them.

    To test the function, Insider "bought" Teddy, 87, in the size "words of affirmation" and at a height of 5'5". Teddy also happened to be the "Deal of the Day."

    One previous Teddy customer noted in the reviews section that Teddy was a great gift for a family member.

    "I bought as a wedding gift for my great Aunt who is in her 80's and was getting remarried," the faux review read. "They had a cute reaction."

    After hitting "add to cart," a review window appeared just like it does for any real Amazon order.

    Once the order was placed, a fake confirmation message was generated.

    amazon dating profile
    Teddy was Amazon Dating's "Deal of the Day."

    amazon dating checkout
    What it looks like after clicking the checkout button.

    amazon dating purchase confirmation
    You also get a message confirming your fake order.

    The website has other functional features, including a downloable 'non-ghosting agreement'

    In addition to being able to fake-purchase people, Amazon Dating has other clickable and interactive features that poke fun at dating in the digital age.

    If you click on the "legal" button in the top menu, for example, you're redirected to a downloadable document called a "Non-Ghosting Agreement."

    "This Non-Ghosting Agreement is entered into by and between __________________ ("Disclosing Party") and ___________________ ("Receiving Party") for the purpose of preventing the unauthorized action of "Ghosting," as defined below," the document reads.

    And if users click the button for Prime Video, they're redirected to the popular video chatting website Chat Roulette.

    An Amazon spokesperson said the company has "no comment" on Amazon Dating.

    Editor's note, May 24, 2024: This article has been updated to reflect the chosen name of a source mentioned in the story.

    Read the original article on Business Insider
  • Apple’s rumored MacBook of the future could arrive in 2026 β€” and cost a lot

    WWDC 2016 MacBook
    The rumored MacBook (not pictured) won't have a physical keyboard.

    • Apple could be releasing an all-screen foldable MacBook in 2026.
    • Analyst Ming-Chi Kuo said production costs could rival the $3,500 Vision Pro headset.
    • The rumored MacBook would come with an as-yet-announced M5 series processor.

    Apple could be gearing up to release an all-screen, foldable MacBook for 2026, and it may cost quite a bit.

    That's according to Ming-Chi Kuo, a much-followed analyst who has previously been a go-to for Apple product predictions, having often done so accurately.

    In a Thursday blog post, citing a survey, the supply-chain analyst at TF International Securities said that the product, Apple's first foldable-screen device, could measure 20.25 inches, though "Apple is also considering using an 18.8" panel instead."

    The "target mass production schedule for the panel and assembly" is Q4 2025 and H1 2026, respectively, he wrote. That compares to a previous estimate of 2027.

    Still, the cost for consumers could reach Vision Pro pricing levels, Kuo wrote. The Vision Pro has a retail price tag of $3,499.

    That's because the cost of making a hinge and display that "make the panel as crease-free as possible" looks hefty. It requires "high design specifications," and current preliminary estimates put the panel costs at around $600—$650 and hinge costs at $200—$250 each, he said.

    However, "if production yields improve significantly by the time of mass production, these costs could decrease." Plus, "due to the more defined product positioning of the foldable MacBook, the shipments are expected to be significantly higher than those of the Vision Pro. Shipments are estimated to exceed 1 million units in 2026," Kuo estimated. That's a boon for Apple after the mixed success of the headset launched earlier this year.

    The MacBook could also come with a yet-to-be-announced M5 chip. When Apple introduced the new iPad Pro on May 7, the tech giant introduced the M4, calling it an "outrageously powerful chip for AI."

    Read the original article on Business Insider
  • Singapore Airlines made a smart move after deadly turbulence

    A Singapore Airlines Boeing 777 landing in London.
    A Singapore Airlines Boeing 777 landing in London.

    • Singapore Airlines announced it will no longer serve meals when the seatbelt light is on.
    • This comes after a passenger died and dozens were injured on a flight due to severe turbulence.
    • Singapore's swift act to protect the safety of its people and customers is smart and praiseworthy.

    Singapore Airlines flight attendants will no longer serve meals when the seatbelt light is on.

    Singapore's flag carrier changed its in-flight service policy to ensure its people's and passengers' safety following a fatal turbulence event on one of its flights on May 21.

    The airline's prohibition on meal service during turbulence joins its existing policies, which already ban hot beverage service during rough air.

    The policy change smartly signals to customers the airline's willingness to act to ensure their safety. In addition, it sends a message to the company's flight attendants that their employer has their safety in mind.

    A general view of the cabin of Singapore Airlines flight SQ321, which was hit by severe turbulence.
    Severe turbulence dislodged oxygen masks and caused injuries to dozens of passengers on Singapore Airlines flight SQ321.

    Getting hit in the face by your seatmate's omelet is not fun, but being flung aloft by turbulence while pushing a metal cart can result in serious injuries. The primary job of a flight attendant isn't to serve drinks or dinner. They are in-flight safety professionals. It's their job to work as a team to get you off the plane quickly and safely in the event of an emergency. And their ability to do so is compromised if they've been injured during meal service.

    Singapore Airlines flight SQ321, about 10 hours into its journey from London to Singapore, encountered sudden, severe turbulence while cruising 37,000 feet above over the Irrawaddy Basin in Myanmar. The Boeing 777-300ER, which had 211 passengers and 18 crew members on board, diverted to Thailand and landed safely in Bangkok.

    The incident resulted in more than 40 injured passengers and crew hospitalized, and the death of one passenger, a 73-year-old British man. According to hospital officials in Bangkok, 22 of those people suffered spinal injuries, while another six suffered skull or brain injuries.

    Two medical professionals stand in front of tents set up to treat the injured of Singapore Airlines Flight 321
    Medical professionals at Suvarnabhumi Airport in Bangkok assisting Singapore Flight SQ321.

    All airlines have a response plan for when the unimaginable happens. Just like the quality of service on flights, some airlines have their act together more than others.

    In this case, Singapore responded quickly on social media, posting a series of updates that offered clear and concise information on the incident. They followed that up with action by quickly flying a team of staff from Singapore to Bangkok for additional manpower on the ground and standing up dedicated customer service teams trained in handling crisis situations. Singapore Airlines also organized emergency flights to get uninjured passengers to their destinations while also flying the families of the injured to Bangkok.

    Singapore Airlines CEO Goh Choon Phong has also met with customers, crew, and their families in Bangkok, the airline said.

    Singapore Airlines' response to the incident thus far should be commended. Crisis response is difficult in the best of situations. It is remarkable that they could execute their plan so capably on foreign soil.

    Read the original article on Business Insider
  • Telecom firms say 5G is transforming industries from farming to manufacturing as they build in security from the start

    RSA conference 2024
    This year's RSA conference in San Francisco.

    • Companies are leveraging 5G for faster speeds, expanded capabilities, and connectivity.
    • Cybersecurity professionals at the RSA conference said security is crucial for 5G.
    • This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations.

    Companies are already using 5G to transform their business models.

    With 5G, organizations now have faster internet speeds, expanded capabilities, and an additional avenue of connectivity.

    Across sectors, 5G has helped employees work remotely and allows companies to connect from factory floors, warehouses, and more. 5G also enables faster connections for tasks like remote surgery, better customer experiences for people living in remote areas, and agriculture work like driverless tractors. It has also presented a new challenge for cybersecurity.

    Business Insider spoke with telecom providers and device makers at the RSA conference earlier this month in San Francisco. They shared how 5G is transforming businesses and security, and how much more is to come.

    "I think 5G has impacted the overall state of security just because of the innovation it brings to us," Christine Gadsby, the vice president of product security at BlackBerry, said. "We have to keep track of innovation and make sure we can secure it. 5G is definitely an area where innovation if we're not careful, will outpace the reality of security and our ability to secure."

    How 5G is transforming businesses

    Telecom providers are using more 5G services within their companies and as business offerings. Large businesses present a big growth area.

    Verizon's staff now have laptops with 5G SIM cards that can connect to 5G networks, Chris Novak, the senior director of cybersecurity consulting at Verizon Business, said.

    "We take pride in making sure the network is secure and very reliable and something organizations can trust," Novak said.

    Telecom companies can also provide private 5G networks to businesses, offering them low latency and high bandwidth to transfer large volumes of data securely. This is especially useful for industrial plants that may have limited WiFi connectivity.

    For example, NTT, a Japanese telecom company, offers 5G services to consumers and private 5G services to businesses, particularly in the manufacturing and automotive industries. Businesses can customize these networks to include their security policies and capabilities.

    "Because it's under your control, you manage it and you secure it the way you secure your other assets," Shahid Ahmed, a group EVP at NTT, said. "By its very nature of being private, under your control, and not being a public network, it's inherently much more secure."

    Overall, customers are using 5G to become more efficient, Gadsby said.

    "Customers are thinking about productivity," she said. "They want faster, cheaper, smarter. Customers are really out for quick, fast connection speeds."

    5G provides better security

    Cybersecurity professionals say that 5G was designed with security in mind from the start, and breaches have been uncommon so far. Businesses are also increasingly partnering with firms to build in cybersecurity from the start.

    "Today when we look at it and see how it works, it very much continues to be the most secure thing we ever operated," Novak said.

    Casey Ellis, the founder and chief strategy officer of the crowdsourced security company Bugcrowd, said that he's seen growing demand from telecommunications customers to get security feedback on 5G systems to identify vulnerabilities and improve their design architecture.

    Earlier this year, Bugcrowd partnered with T-Mobile to hold a 5G Bug Bash, where developers hacked into 5G equipment, apps, and radio systems to find vulnerabilities. This allowed them to work with T-Mobile and other telecommunications companies to fix them.

    "It's making sure the vulnerabilities are in the hands of folks that go off and fix the problem," Ellis said. "Usually what we'll do in a more technical or complicated domain is put the hackers that found the issue in touch with the fixer long-term so they can collaborate, not just finding the broken thing."

    Managing risks

    While connecting to a 5G network is more secure, the biggest risk with 5G is that hackers might gain access to connected devices. Increasingly, more cellular and Internet of Things devices are being connected to organizations' 5G networks, which means more opportunities for hackers if organizations don't properly manage their security.

    Novak said some customers are worried because the technology is still relatively new, so they face some unknowns. He added that there's a significant gap between how fast a hacker can exploit vulnerabilities and how fast an organization can patch vulnerabilities.

    That's why cybersecurity professionals say constant assessment is critical. Organizations should know what their assets are and lock them down to prevent data losses. They should have full visibility into what devices are connected to their networks and protect them by making sure they use a mature security provider.

    In addition, organizations should understand what data is going in and out of devices connected to their networks and should examine traffic patterns for unusual or suspicious activity. Organizations should also make sure their 5G hardware and software are being mended if there are vulnerabilities.

    With the rise of generative AI, AI cybersecurity tools can improve network quality and security and analyze network traffic.

    "We're always looking at how we can make improvements and how we can make future iterations and updates more secure today," Novak said. "We're always continuing to evaluate what the threat landscape looks like. You don't know what vulnerabilities are out there until someone starts poking around and making it do things it wasn't supposed to do."

    The future of 5G

    The 5G transformation has not happened as fast as expected, nor has it been deployed at a large scale yet. Still, the cybersecurity landscape and threats in 5G will continue to evolve, Novak said.

    Given geopolitical tensions between the US and China, the supply chain will continue to be a more crucial issue for 5G infrastructure.

    At the same time, 5G will expand the cybersecurity market, and there's still plenty of room for new players to arise. In the future, more security companies could focus on 5G security for cars, airplanes, medical devices, and more. And in the next five to 10 years, 6G will become more common, Mihoko Matsubara, the chief cybersecurity strategist at NTT, said. She stressed the importance of raising awareness about cybersecurity in connected devices.

    "We will see more companies, regardless of size or organization, using 5G as a natural tool for business operations," Matsubara said.

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  • Russia’s pulling combat forces from another continent to fuel its latest offensive push in Ukraine, Western intel says

    Soldiers boarding helicopter
    This undated photograph handed out by the French military shows Russian mercenaries boarding a helicopter in northern Mali.

    • Russia has pulled combat forces from Africa to support its new offensive in the Kharkiv region.
    • Africa Corps units recently deployed to fight with other Russian forces, Western intelligence said.
    • The Russian Africa Corps was created last year and consists of former Wagner Group mercenaries. 

    Russia has moved some combat forces from Africa to help support its latest offensive efforts in northeastern Ukraine, according to a new Western intelligence assessment.

    Over the past week, Moscow has deployed units from its Africa Corps to fight around Vovchansk, a small city in Ukraine's Kharkiv region that has been at the center of intense fighting in recent days, the UK defense ministry wrote in a Friday intelligence update.

    The Russian defense ministry created the Africa Corps last year as a way to expand its footprint on the continent and also in the Middle East. The military formation, which has the same name as a World War II Nazi unit, consists of more than 2,000 regular soldiers, officers, and mercenaries — including many who once served in the notorious Wagner Group.

    In Ukraine, Africa Corps units have been deployed alongside regular Russian military forces and Storm-Z penal units made up of convicts and troops with disciplinary charges to support the ongoing Kharkiv offensive, Britain's defense ministry noted.

    Ukrainian soldiers defending the front line in Vovchansk on May 20.
    Ukrainian soldiers defending the front line in Vovchansk on May 20.

    Russia's defense ministry "almost certainly redeployed detachments from the Africa Corps to the Ukrainian border during April 2024 in preparation for this offensive," the defense ministry said. "It is highly likely that Russia is reinforcing its war on Ukraine with resources previously assigned to Africa."

    Other Africa Corps detachments are believed to have deployed to Syria, Libya, Burkina Faso, and Niger, the UK said.

    The Wagner Group — which long operated as a shadowy extension of Russia's foreign policy apparatus until their involvement in the Ukraine war thrust the mercenaries into the limelight — has a history of activity in those countries. The organization has also been accused of committing various atrocities and human rights violations across Africa.

    Russia has moved to assume more control over Wagner in the year since the mercenaries staged a failed mutiny last June, sparked by grievances over the Ukraine war. Moscow's grip on the ruthless organization only tightened after its leader, Yevgeny Prigozhin, died in a still-mysterious plane crash just two months later.

    This undated photograph handed out by the French military shows Russian mercenaries boarding a helicopter in northern Mali.
    This undated photograph handed out by the French military shows Russian mercenaries boarding a helicopter in northern Mali.

    The recent deployment of certain Africa Corps units to the Kharkiv region appears to underscore Russia's commitment to its new offensive.

    Earlier this month, after gathering tens of thousands of troops near the border, Russia launched an assault into the region in an attempt to carve out a buffer zone near its territory.

    The limited incursion is also designed to stretch thin Ukrainian forces across the sprawling front line and pin down Kyiv's defensive efforts around Kharkiv, possibly signaling the start of what could be a multi-pronged summer offensive.

    Nearly two weeks into the offensive, Russia has captured a small amount of territory along the border and is closing in on Vovchansk, which had a pre-war population of more than 17,000 people.

    The city has been at the heart of brutal fighting and has fallen victim to Moscow's devastating glide-bomb strikes. Imagery shared to social media shows widespread destruction.

    Smoke rises from the city of Vovchansk on May 17.
    Smoke rises from the city of Vovchansk on May 17.

    Ukraine's General Staff of the Armed Forces said in a Friday update shared to Facebook that Russia had conducted multiple assaults in the Kharkiv direction, but Kyiv's troops were fighting back and able to repel the attacks.

    Ukrainian President Volodymyr Zelenskyy traveled to Kharkiv city on Friday, where he held meetings on the battlefield situation and received updates on defensive operations around Vovchansk.

    He wrote in a post on X that "we paid special attention to the housing needs of our people who had been displaced from Kharkiv region territories targeted by enemy shelling."

    Read the original article on Business Insider