Author: openjargon

  • Morgans says these ASX dividend shares are top buys

    If you are searching for some ASX dividend shares to buy then it could be worth checking out the two listed below.

    Both have been named on Morgans’ best ideas list again this month and tipped to provide attractive dividend yields in the near term. Here’s what you need to know:

    HomeCo Daily Needs REIT (ASX: HDN)

    The first ASX dividend share that analysts at Morgans are positive on right now is HomeCo Daily Needs. The broker currently has an add rating and $1.37 price target on the neighbourhood retail and large format retail focused property company’s shares.

    Morgans is very positive on HomeCo Daily Needs’ outlook thanks to favourable trends and its resilient tenants. It said:

    HDN’s $4.7bn portfolio is focused on daily needs assets (Large Format Retail; Neighbourhood; and Health & Services) across +50 properties with the top 3 tenants Bunnings, Coles and Woolworths. 70% of leases are fixed; 21% linked to CPI; and 9% based on supermarket turnover. The portfolio has resilient cashflows and continues to be a beneficiary of accelerating click & collect trends. +80% of tenants are national and ~75% of tenants offer click & collect reinforcing the importance of assets being able to support ‘last mile logistics’. Sites are also in strategic locations with strong population growth (+80% metro). HDN offers an attractive distribution yield and the development pipeline provides growth opportunities.

    As for dividends, Morgans expects dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.26, this will mean yields of 6.3% and 7.1%, respectively.

    QBE Insurance Group Ltd (ASX: QBE)

    Another ASX dividend share that Morgans is bullish on right now is QBE. It has an add rating and $20.00 price target on the insurance giant’s shares.

    The broker believes the company’s valuation is cheap based on its positive outlook. It said:

    With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.

    In respect to income, Morgans expects the company to pay dividends per share of 99 cents in FY 2024 and then 108 cents in FY 2025. Based on the current QBE share price of $17.68, this will mean yields of 5.6% and 6.1%, respectively.

    The post Morgans says these ASX dividend shares are top buys appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Homeco Daily Needs Reit right now?

    Before you buy Homeco Daily Needs Reit 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 Homeco Daily Needs Reit wasn’t one of them.

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

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

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

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

  • 5 things to watch on the ASX 200 on Tuesday

    On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a strong gain. The benchmark index rose 0.6% to 7,863.7 points.

    Will the market be able to build on this on Tuesday? Here are five things to watch:

    ASX 200 expected to edge lower

    The Australian share market looks set to edge lower on Tuesday following a mixed start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 7 points or 0.1% lower. In late trade in the United States, the Dow Jones is down 0.45%, but the S&P 500 is up 0.15% and the NASDAQ is up 0.65%.

    TechnologyOne results

    The TechnologyOne Ltd (ASX: TNE) share price will be one to watch on Tuesday. That’s because the enterprise software provider is scheduled to release its half year results. Goldman Sachs is expecting a strong performance from the tech stock. It said: “We estimate TNE will report (1) SaaS ARR [annual recurring revenue] of A$425mn or +35% y/y vs +34% Visible Alpha Consensus Data; (2) Total revenue of A$241mn or +19% y/y vs A$231mn consensus; (3) Profit before tax of A$62mn or +18% y/y vs +19% consensus.”

    Oil prices soften

    It could be a subdued session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices softened overnight. According to Bloomberg, the WTI crude oil price is down 0.35% to US$79.77 a barrel and the Brent crude oil price is down 0.3% to US$83.73 a barrel. Uncertainty over Iranian supply plans weighed on prices.

    Elders rated as a buy

    The Elders Ltd (ASX: ELD) share price is good value according to analysts at Bell Potter. In response to the agribusiness company’s half year results, the broker has reaffirmed its buy rating with an improved price target of $9.30. Bell Potter believes its shares are undervalued at current levels. It said: “We see ELD trading at 7.5-8.0x Through-The-Cycle (TTC) EBITDA, which we have raised to $270-280m reflecting YTD business investment ($68m in 1H24 + $51m on Knight Frank TAS), a discount to its historical average of 8.5x.”

    Gold price jumps to record high

    ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session on Tuesday after the gold price raced to a new record high overnight. According to CNBC, the spot gold price is up 0.8% to US$2,436.9 an ounce. This was driven by a perfect storm of U.S. rate cut expectations, China’s stimulus measures, and geopolitical tensions lifting demand.

    The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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

    Before you buy Elders 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 Elders Limited wasn’t one of them.

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

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

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Technology One. The Motley Fool Australia has recommended Elders and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Down 16% in 6 weeks: Is this ASX 200 share a bargain buy?

    On Monday, the Elders Ltd (ASX: ELD) share price pushed higher after investors responded positively to the agribusiness company’s half year results.

    The ASX 200 share ended the day over 1% higher at $8.30.

    While this is positive, it doesn’t change much on a six-week basis, with Elders’ shares still down approximately 16% over this period.

    Is this recent share price weakness a buying opportunity for investors or should they keep their powder dry? Let’s see what analysts at Bell Potter are saying about the company.

    Is this ASX 200 share good value?

    According to a note released this morning, the broker was a touch disappointed with Elders’ performance during the first half.

    Although the broker was expecting a sizeable profit decline, it was still short of expectations. Bell Potter commented:

    Operating revenue of $1,365m was down -18% YOY (vs. BPe $1,365m). EBIT of $38.5m was down -54 % YOY (vs. BPe of $44.1m), with a higher-than-expected contribution from retail being offset in large by a weaker Wholesale result. Underlying NPAT of $14.4m was down -71% YOY (vs. BPe of $19.8m) and reflected a materially higher YOY interest charge (reflecting a +$118m YOY uplift in average working capital balances and higher base rates).

    This has led to the broker trimming its earnings forecasts for the ASX 200 share for the coming years. It adds:

    Our NPAT forecasts are downgraded -5% in FY24e, -3% in FY25e and -3% in FY26e, largely reflecting higher financing and depreciation charges (lease + capex).

    Staying buy-rated

    However, despite Elders’ underperformance, Bell Potter remains very positive on the company and has even increased its valuation for its shares.

    According to the note, the broker has retained its buy rating with an improved price target of $9.30 (from $9.10). This implies potential upside of 12% for investors from current levels.

    In addition, the broker is forecasting some attractive dividend yields this year and in the future. It has pencilled in yields of 4.3% in FY 2024, then 4.9% in FY 2025, and then 5.2% in FY 2026.

    Overall, Bell Potter appears to believe that the ASX 200 share is undervalued based on historical multiples and its through the cycle earnings estimates (which have been boosted following the result). It explains:

    We see ELD trading at 7.5-8.0x Through-The-Cycle (TTC) EBITDA, which we have raised to $270-280m reflecting YTD business investment ($68m in 1H24 + $51m on Knight Frank TAS), a discount to its historical average of 8.5x.

    The post Down 16% in 6 weeks: Is this ASX 200 share a bargain buy? appeared first on The Motley Fool Australia.

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

    Before you buy Elders 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 Elders Limited wasn’t one of them.

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

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

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

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

  • Rare photos show life inside North Korea’s top-secret military

    North Korean military
    A North Korean woman and soldiers near the North Korean town of Sinuiju.

    • North Korea's military, the fourth-largest in the world, remains shrouded in mystery.
    • Both men and women are required to serve in the military in North Korea.
    • Kim Jong Un, the supreme leader of North Korea, has no formal military training.

    Little is known about life inside the "hermit kingdom" of North Korea. Even less is known about the country's military — the fourth-largest in the world behind China, India, and the United States, according to World Population Review.

    It remains extremely difficult to get past the border, but photos can provide a glimpse into the insular, militarized country.

    Rare photos of North Korea's military reveal a snapshot of life as a soldier in North Korea.

    This story was originally published in May 2016. It was updated in May 2024.

    North Korea and South Korea were split after the Korean War, which began in 1950 when 75,000 soldiers from the North crossed the border and invaded the South.
    North-Korean and Chinese troops celebrate their shared victory during the Korean War
    North Korean and Chinese troops celebrate their shared victory in South Korea after driving back American forces in 1950.

    The war ended in 1953 with an armistice dividing the country along the 38th parallel, with the Soviet Union controlling the North and the UN controlling the South.
    Kim Il Sung signs the Korean Armistice Agreement.
    Kim Il Sung signs the Korean Armistice Agreement.

    The Korean Armistice Agreement also established a Demilitarized Zone on the border, which remains one of the most heavily guarded borders in the world.
    demilitarized zone korea
    South Korean, right, and North Korean army soldiers stand guard at the border village of Panmunjom in the demilitarized zone (DMZ) between the two Koreas.

    The Soviet Union put Kim Il Sung in charge of North Korea, which became known as the Democratic People's Republic of Korea.
    Kim Il Sung.
    Kim Il Sung.

    His son, Kim Jong Il, took over after his death in 1994.
    North Korean leader Kim Jong-Il meets with Korean People's Army personnel.
    North Korean leader Kim Jong-Il meets with Korean People's Army personnel.

    Kim Jong Un then took over as the ruler of the country in December 2011, when his father and the former leader, Kim Jong Il, died of a heart attack.
    North Korean leader Kim Jong Un gestures at soldiers during a military demonstration
    North Korean leader Kim Jong Un gestures as he guides a military demonstration involving tank units in North Korea.

    Despite being in charge of the fourth-largest military in the world, Un has no formal military training.
    North Korean leader Kim Jong Un peers through a pair of binoculars during a military demonstration in North Korea.
    North Korean leader Kim Jong Un peers through a pair of binoculars during a military demonstration in North Korea.

    North Korea's military is called the "Korean People's Army," or the KPA.
    Senior North Korean military officers
    Senior North Korean military officers.

    The North Korean military is composed of more than 1.3 million active soldiers, according to a 2021 report published by the US Defense Intelligence Agency.
    A North Korean military parade.
    A North Korean military parade.

    There are another 7 million paramilitary, reserve, and bodyguard command personnel.
    North Korean military
    North Korean soldiers salute from atop tanks during a military parade in Pyongyang.

    Most people serve in the military after completing high school.
    North Korean military soldiers assembled at an official event.
    North Korean soldiers.

    Men serve for 10 years and women for seven, a North Korean defector told NK News, The Guardian reported in 2015.
    North Korean soldiers do push-ups at the banks of the Yalu River, at the North Korean town of Sinuiju.
    North Korean soldiers do push-ups on the banks of the Yalu River in the North Korean town of Sinuiju.

    Before 2015, women served purely on a voluntary basis.
    North Korean military
    Women in the Korean People's Army.

    In 2015, it became mandatory for all women to serve in the military.
    A North Korean soldier guards an army installation near the Chinese border.
    A North Korean soldier guards an army installation near the Chinese border.

    Those who go to college serve for five years after completing their degree, the defector told NK News.
    Korean People's Army (KPA) soldiers hold flowers as they pay their respects before a statue of late North Korean leader Kim Jong Il.
    Korean People's Army soldiers hold flowers as they pay their respects before a statue of late North Korean leader Kim Jong Il on the anniversary of his death.

    Kim Jong Un established a policy in 2015 allowing those who study science to serve for only three years.
    North Korean military
    North Korean soldiers ride motorcycles during a military parade.

    While data from North Korea remains unreliable, its defense industry employs an estimated 2 million workers, according to a 2008 census cited by 38 North.
    North Korean leader Kim Jong Un poses with soldiers
    North Korean leader Kim Jong Un poses with soldiers as he inspects a tank unit of the Korean People's Army.

    Most motor vehicles are owned by military or government officials. Restrictions on car ownership mean it's rare for private citizens to own them.
    A North Korean military parade
    A North Korean military parade.

    Source: Daily NK

    Soldiers in the military have reportedly faced malnourishment and hunger because of a lack of food availability and rigorous training.
    North Korean soldier herds goats
    A North Korean soldier herds goats on the banks of the Yalu River.

    Source: NK News

    KPA's Air Force is its second-largest branch with around 110,000 members.
    North Korean leader Kim Jong Un visits Korean People's Army Air Force headquarters
    Kim Jong Un visits the Korean People's Army Air Force headquarters.

    The US Department of Defense reports that North Korea's Air Force has somewhere between 500 and 900 aircraft, though most are outdated vessels from the 1990s.
    North Korea's leader Kim Jong Un watches planes during a flypast at the Defense Development Exhibition, in Pyongyang, North Korea
    Kim Jong Un watches planes during a flypast in Pyongyang, North Korea.

    The North Korean military is also believed to have 260 amphibious landing craft in its naval force.
    Landing and anti-landing exercises being carried out by the Korean People's Army at an unknown location.
    Landing and anti-landing exercises by the Korean People's Army at an unknown location.

    In 2023, North Korea held a launch ceremony for a reworked Cold War-era submarine with missile capabilities, though it's unclear if the sub is operational.
    North Korea submarine
    North Korea's new "tactical nuclear attack submarine" at its launch ceremony.

    The North Korean missile program began development in the late 1960s.
    North Korea military
    A North Korean soldier guards a missile.

    The full scope of North Korea's ballistic missile capabilities is unclear, but the military is believed to be in possession of long-, medium-, and short-range missiles.
    Kim Jong-un attends a test launch of a missile.
    Kim Jong-un attends a test launch of a missile.

    In 2021, the Bulletin of the Atomic Scientists estimated that North Korea could possess enough fissile material to produce 40 to 50 nuclear weapons.
    Kim Jong Un inspects nuclear warheads.
    Kim Jong Un inspects nuclear warheads.

    Nuclear tests were conducted within the country in 2006, 2009, 2013, 2016, and 2017.
    A rally celebrating the success of a recent nuclear test is held in Kim Il Sung square
    A rally celebrating the success of a nuclear test is held in Kim Il Sung Square.

    In 2017, Un attended a celebration held in honor of the nuclear scientists and engineers who contributed to a hydrogen bomb test.
    Kim Jong Un reacts during a celebration for nuclear scientists and engineers who contributed to a hydrogen bomb test
    Kim Jong Un reacts during a celebration for nuclear scientists and engineers who contributed to a hydrogen bomb test.

    North Korea's military also has a band that performs at official functions known as the Central Military Band of the Korean People's Army.
    The Ensemble of Korean People's Army of North Korea performs on the Russia's Army Theatre's stage during the "Spasskaya Tower" international military music festival in Moscow
    The Central Military Band of the Korean People's Army performs in Moscow.

    Despite being one of the largest armies in the world, North Korea's military remains shrouded in mystery.
    North Korean military performs a night drill of ground artillery sub-units.
    Members of North Korea's military perform a night drill of ground artillery sub-units.

    Read the original article on Business Insider
  • Why more US banks could collapse

    Silicon Valley Bank, Signature Bank, and First Republic are among the largest bank failures in US history. But more banks could fail, according to Fed chair Jerome Powell.

     

    Read the original article on Business Insider
  • Bruce Nordstrom, of the department-store dynasty, has died. Here’s how the Nordstrom family built their empire.

    Nordstrom department store entrance
    Shoppers visit a Nordstrom store.

    • Bruce Nordstrom, former chairman of the family-run department store chain, has died.
    • His grandfather started the business in 1901, which later grew into a fashion empire.
    • Nordstrom's two living sons, Pete and Erik, are the company's President and CEO, respectively.

    Bruce Nordstrom, the former chairman of the eponymous department store chain, has died at the age of 90.

    Grandson of founder John W. Nordstrom, Bruce was instrumental in bringing the retailer to international prominence in a career that spanned four decades.

    Bruce's eldest son Blake died in 2019 after a bout with lymphoma, and his two living sons, Pete and Erik, are now the company's President and CEO, respectively.

    Here's how the Nordstroms built their empire from a single shoe store in Seattle to one of the biggest names in fashion retail.

    Nordstrom was founded as a shoe store by John W. Nordstrom and Carl F. Wallin in Seattle in 1901.
    Nordstrom 4
    A Nordstrom sign showing the year the company started.

    Two decades later, the partners opened a second store in Seattle's University District.

    John Nordstrom retired in 1928 and sold his share to his sons Everett and Elmer.
    Nordstrom 3
    A Portland, Oregon, Nordstrom store in 2015.

    Wallin retired soon after and sold his share of the company to the Nordstrom sons too. John's third son, Lloyd, later joined the team.

    John Nordstrom's sons focused on expanding into women's clothing.
    nordstrom 0680
    Mannequins at a Nordstrom department store.

    Nordstrom purchased the Seattle-based clothing store Best's Apparel in 1963. Three years later, the company purchased a Portland, Oregon-based clothing store and began offering both shoes and apparel under the name Nordstrom Best. The company added men's and children's apparel in 1966.

    In 1968, the three Nordstrom brothers handed the company over to the next generation.
    bruce nordstrom 3
    Bruce Nordstrom.

    Everett's son Bruce, Elmer's sons James and John, Lloyd's son-in-law Jack, and family friend Bob Bender became the new heads of the company. The third generation of Nordstrom chairmen took the company public in 1971, formally renaming it Nordstrom Inc.

    The first Nordstrom Rack opened in the basement of the downtown Seattle store in 1973.
    Nordstrom Rack
    A Nordstrom Rack location in New York.

    That same year, the company became the largest-volume fashion specialty store on the West Coast, with sales surpassing $100 million. The chain continued to expand throughout the next several decades.

    In 1995, Nordstrom's third generation handed the reins over to the fourth.
    Blake, Pete, Erik, and Jamie Nordstrom smile for camera at Nordstrom store opening
    Blake, Pete, Erik, and Jamie Nordstrom in 2007.

    The elder Nordstroms retired as co-chairmen, but remained on the Board of Directors, and Bruce's sons, Blake, Pete, and Erik, took over the company in 1995.

    Bruce's oldest son Blake became co-president in 1995.
    blake nordstrom

    Blake began working in the family business when he was about 11 years old. His first role with the company was in the stockroom, and he went on to hold many roles with the company, including merchandise buyer, regional manager, and then vice president in charge of stores in Washington and Alaska.

    Erik Nordstrom worked for his older brother in various positions at the company as the two rose through the ranks together.
    Blake Erik Nordstrom
    Blake and Erik Nordstrom.

    "It was always the best working for my brother because he had more confidence in me and gave me more autonomy than anybody I had ever worked for," Erik Nordstrom said in his father's 2007 book, "Leave It Better Than You Found It."

    Bruce returned as chairman in 2000, retiring for a second time in 2006.
    Bruce Nordstrom
    Bruce Nordstrom.

    Bruce and his sons were credited with turning the company around after several years of underperformance by non-family leadership.

    Throughout the 2000s, Nordstrom partnered with fashion brands like Façonnable, Topshop, HauteLook, and Jeffery.
    nordstrom 0657
    A store display of Topshop apparel and accessories.

    And in 2014, the company started expanding internationally. It opened stores in Canada and Puerto Rico.

    Nordstrom opened its first menswear-only store in 2018, and a flagship womenswear store in 2019.
    Nordstrom men's
    Nordstrom's menswear shop.

    The concept combines in-store services such as tailoring, shoe shining, and food, with high-tech digital ordering and returns systems.

    Blake died in 2019 at the age of 58, passing control of the company to his brothers.
    Blake Nordstrom stands with arms resting on racks of clothes at Nordstrom Rack
    Blake Nordstrom at a Nordstrom Rack in 2018.

    "Blake was the best big brother, friend and mentor anyone could ever ask for," Pete and Erik Nordstrom said in a note to employees. "One of the things that brings us some comfort is that Blake's values, character and passion can still be reflected in what this company does – how we treat each other, our customers and our communities. Building on that is the best way we can think of to honor his legacy."

    In April, Pete and Erik revealed that the company is exploring options to go private.
    Erik and Pete Nordstrom stand in front of Nordstrom backdrop during red carpet event
    Erik, left, and Pete Nordstrom in 2012.

    In regulatory filings, the brother said they had not yet received any financing commitments to complete such a deal.

    In May, Bruce died at his home at the age of 90.
    Bruce Nordstrom2
    Bruce Nordstrom in 2018.

    Nordstrom died on May 18.

    "Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend," Pete and Erik said in a statement.

    Jessica Tyler contributed to an earlier version of this story.

    Read the original article on Business Insider
  • We’re not about to fold’: Janet Yellen says efforts are underway to package a $50 billion loan to Ukraine using frozen Russian funds

    Treasury Secretary Janet Yellen.
    Treasury Secretary Janet Yellen.

    • Janet Yellen told The New York Times that G7 leaders will discuss the details of a loan program for Ukraine.
    • The loan would use proceeds from Russia's frozen asset and potentially offer a $50 billion lifeline.
    • The aid could offer Ukraine a means of survival as Moscow amplifies its offensive.

    The US and its allies are getting serious about a plan to finance Ukraine using interest earned on Russia's frozen assets. Under the idea, these profits would be bundled together into a sizable loan, a possible means of survival for Kyiv.

    "Showing that we do have the means of translating earnings on the frozen assets into a stream of support for Ukraine, I think, is an important way to demonstrate that we're not about to fold," Treasury Secretary Janet Yellen told The New York Times. "We're going to be able to help Ukraine."

    Though not the only option available, it's the most promising suggestion on how to best use the $300 billion worth of Russian reserves, she said. These foreign assets were made inaccessible to the country in 2022, shortly after Moscow launched its invasion of Ukraine. 

    If the Group of 7 leaders are able to finalize the loan's details in a meeting next week, it could make this a reality for Ukraine. So far, reserves have sat untouched in depositories, such as Euroclear; there, a trove worth $206 billion is generating over $3 billion in interest a year.

    According to NYT, a loan based on the accumulated interest could offer Kyiv an up-front lifeline of $50 billion.

    However, particulars still need to be agreed upon. G7 leaders need to decide how to deliver the funds or how the loan will be repaid if interest rates fall, tanking the proceeds. 

    Such questions are the latest in a long line of discourse between Western leaders on how to use frozen Russian assets. Previously, some countries were ready to tap the reserves themselves, while others protested the idea as a dangerous move. Meanwhile, counterparts in Russia have voiced warnings of retribution if the reserves are grabbed

    "I think we see considerable interest among all of our partners in a loan structure that would bring forward the stream of windfall profits," Yellen said. 

    While this has meant months of G7 negotiating, finding a common-ground solution is now taking on rapid seriousness, as Ukraine's ability to hold off Russia is becoming ever-more questionable.

    "I think we see considerable interest among all of our partners in a loan structure that would bring forward the stream of windfall profits," Yellen said.

    On Monday, Ukrainian President Vlodimir Zelenskyy expressed frustration behind constant delays in Western aid.

    "Every decision to which we, then later everyone together, comes to is late by around one year," he told the outlet. With Russia's offensive efforts mounting, Zelenskyy has urged Western allies to get involved more directly, such as by shooting down Russian rockets.

    Read the original article on Business Insider
  • Microsoft just announced AI computers that start at $999 — check out the Copilot+ PCs

    Surface Pro and Surface Laptop
    The Surface Pro and Surface Laptop Copilot+ PCs.

    • Microsoft unveiled its new AI-powered Copilot+ PCs at a press event.
    • Copilot+ PCs offer up to 20 times more AI power and 22 hours of battery life, according to Microsoft.
    • Pre-orders start today at $999, with availability from June 18 from brands like Microsoft Surface, Dell, and HP.

    Microsoft's AI-powered PCs are here.

    Microsoft just unveiled a new line of Windows PCs designed for AI at a press event Monday.

    The new line, called Copilot+ PCs, is the fastest and most intelligent Windows model of a PC built yet, according to Microsoft.

    "We have completely reimagined the entirety of the PC — from silicon to the operating system, the application layer to the cloud — with AI at the center, marking the most significant change to the Windows platform in decades," the company said in its announcement.

    Microsoft is launching Surface Copilot+ PCs, with the new Surface Pro and Surface Laptop, but it's also working with its hardware partners, who will also be launching their own Copilot + computers.

    There's also some cool-sounding AI features, including some powered by the on-device AI chips.

    The most notable is "Recall," which Microsoft says is basically like if your PC had "photographic memory" and could remember everything you looked at on your PC, helping you quickly recall where you stored something.

    "You can scroll across time to find the content you need in your timeline across any application, website, document, or more," Microsoft said. "Interact intuitively using snapshots with screenray to help you take the next step using suggested actions based on object recognition. And get back to where you were, whether to a specific email in Outlook or the right chat in Teams."

    [youtube https://www.youtube.com/watch?v=5JmkWJNng2I?si=tOmSXy1Aoi7-MeUS&w=560&h=315]

    Microsoft says the PCs are up to 20 times more powerful for AI and also offer improved battery life, with up to 22 hours on a single charge. The new chip architecture combines CPU, GPU and high-performance Neural Processing Units for efficient AI processing.

    Pre-orders for the new PCs start today, with prices starting at $999. In addition to Microsoft's Surface PCs, the new Copilot+ computers will be available from six PC brands starting June 18, including Dell, HP, and Lenovo.

    Read the original article on Business Insider
  • V-22 Ospreys return to the skies but are required to stay within 30 minutes from an airfield in case of emergency

    a front view of a US Marine Corps MV-22 Osprey
    A US Marine Corps MV-22 Osprey conducts its flight demonstration during an air show in North Carolina.

    • V-22 Ospreys are back in the skies after a crash killed eight airmen last year in Japan.
    • But the controversial tiltrotor aircraft is limited to operating within 30 minutes of an airfield.
    • The Navy continues to rely on its aging C-2 Greyhound fleet until the Osprey's full return.

    Air Force, Marine Corps, and Navy V-22 Ospreys were all given the green light to fly again in early March and have been slowly taking to the skies following a tragic crash that killed eight airmen late last year in Japan.

    But months after the grounding was lifted, there are still restrictions in place that significantly limit the aircraft's ability to operate, Military.com has learned.

    The services are barred from flying the controversial tiltrotor aircraft more than 30 minutes away from a suitable airfield to divert to in case anything goes wrong. That has caused some of the services, such as the Navy, to continue relying on other aircraft to accomplish tasks that the Osprey would have taken on.

    Cmdr. Beth Teach, a spokesperson for Naval Air Forces, confirmed to Military.com on Thursday that the restriction was handed down by the V-22 Joint Program Office, part of Naval Air Systems Command, and is a requirement that all the services are following.

    US Marines taxi an MV-22B Osprey down the flightline
    US Marines taxi an MV-22B Osprey down the flightline at Royal Australian Air Force Base.

    It was not immediately clear what would constitute a suitable landing zone for the tiltrotor aircraft which, by design, is meant to land quickly like a helicopter in austere conditions.

    The Joint Program Office declined to comment to Military.com regarding the restriction.

    A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations. 

    "Operational security associated with our forward-deployed Marines and sailors limits our ability to provide details regarding any potential platform restrictions," Capt. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet.

    "The Marine Corps, after a thorough review of all available engineering data and with revisions to the flight manual in place, is now enacting a deliberate plan to return all 17 MV-22 squadrons to full capability," Caballero said. "The Marine Corps' three-phased approach begins with a focus on regaining basic flight currency, rebuilding units' instructor cadres, and achieving proficiency in core and basic skill training for pilots and aircrew."

    US Marine Corps MV-22B Ospreys take off
    US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia.

    Lt. Col. Rebecca Heyse, a spokesperson for Air Force Special Operations Command, told Military.com that the service is following the Joint Program Office's guidance for their return to flight plans but didn't provide additional details about current flight restrictions.

    That restriction was publicly identified in a House draft text of the national defense authorization bill released this week. The bill details limitations and woes with the Navy's variant, the CMV-22, and how it's forcing the sea service to continue to rely more heavily on its aging C-2A Greyhound fleet, lawmakers wrote.

    "The committee understands that current CMV-22 operations are limited to flights and missions that stay within 30 minutes of a suitable divert airfield," according to the House Armed Services Committee document. "This prohibits the use of the CMV-22 for carrier onboard support of deployed aircraft carriers once they have left their homeport."

    The Navy used the Greyhound, which has been in service for 60 years and is slated to be retired by 2026, to fill the gaps when the Ospreys were grounded, but even though the Osprey is flying again, it appears the service is still relying on the planes.

    the silhouette of US Marines are seen beneath a flying MV-22B Osprey
    An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.

    That raised concerns for lawmakers who asked the Navy to provide House Armed Services with a report by February 1, 2025, on how the service will adjust once the C-2A is no longer available.

    "With no other option available, the committee supports this interim solution but recognizes it is not a viable long-term solution beyond 2026," the draft bill said.

    News about the Navy's restrictions and that it affected all variants of the Osprey was first reported by Aviation Week.

    All of the services have been cautiously returning to the skies following a November 29 Air Force special operations Osprey crash off the coast of Japan that killed all eight service members on board — the deadliest CV-22 crash in the service's history — and led to a monthslong, military-wide grounding of the aircraft.

    Military.com reported earlier this month that the Air Force had begun conducting flight checks for its Osprey variant, the CV-22. The Marine Corps and the Navy began flying some of their aircraft in March, the same month the Joint Program Office gave the OK to resume operations.

    US Marines walk across the flight line after flying in an MV-22B Osprey
    US Marines walk across the flight line after flying in an MV-22B Osprey at Royal Australian Air Force Base in Darwin, Australia.

    The Osprey Joint Program Office provided few details on what mechanical failure led to the deadly crash and how it planned to fix it.

    "We have high confidence that we understand what component failed, and how it failed," Marine Corps Col. Brian Taylor, the manager of the V-22 program, told reporters in March. "I think what we are still working on is the 'why.'"

    Meanwhile, the Osprey is looking at a makeover that officials hope will keep the aircraft flying until at least 2055 — and beyond.

    The Joint Program Office, which oversees the V-22's development and operations, is looking to replace aging components in the aircraft's cockpit, as well as test solutions for a mechanical issue that has led to more than a dozen mishaps in its operational lifespan.

    "There's a ton of life left in this platform, and there's a ton of mission left in this platform," Taylor said last month at the Modern Day Marine Expo in Washington, DC.

    The mechanical issue the program office hopes to address involves a notorious clutch problem, called a "hard clutch engagement," which contributed to a crash in 2022 that killed five Marines. It is also known to have been involved in at least 15 other V-22 incidents since 2010.

    A US Marine stands inside a MV-22 Osprey
    A US Marine prepares an MV-22 Osprey for departure at Camp Lemonnier, Djibouti.

    Taylor mentioned that the program office oversaw the disassembly of clutches within the aircraft, including V-22s with 2,000 hours of flight and those with less than a hundred, which "helped us better understand this environment inside of this clutch assembly," he said.

    He added that a new prototype for one of the likely culprits causing this issue — the input quill assembly — will be tested within the next month. That prototype includes 15 design changes, he said.

    "When you purchase aircraft over about a 30-year span, you end up with some configuration challenges," Taylor said. "And that's what we're still kind of working through."

    While operations are limited, Taylor said that Ospreys are abundant in the air — and have been for more than two months.

    "I haven't done this math problem, but it's pretty safe to say that 24 hours a day, there's a V-22 flying somewhere on the planet … doing our nation's business," he said.

    Read the original article on Business Insider
  • Jamie Dimon just hinted he may be retiring sooner than expected

    Jamie Dimon
    JPMorgan CEO Jamie Dimon has long been mentioned as a potential Treasury secretary under presidents from both parties.

    • JPMorgan CEO Jamie Dimon is talking about retirement.
    • At an investor day Q&A, Dimon joked he was planning to step down within five years.
    • Dimon said the plan to find a successor is "well on the way."

    Jamie Dimon may be retiring sooner than we thought.

    At an investor day Q&A on Monday, the JPMorgan CEO broke from his usual joke that he'll retire in five years.

    When asked about his succession plan, Dimon seemed to acknowledge that he's thinking of stepping down when he joked that the timetable is "not five years anymore."

    The bank boss also said the plan to name his successor is "well on its way" and floated staying on as chairman after he steps down.

    "We're moving people around," Dimon, 68, said during the Q&A.

    Wall Street has speculated for years about who will take over for Dimon when he eventually leaves JPMorgan.

    Jennifer Piepszak and Marianne Lake, two key longtime executives, have been rumored to be next in line at the investment bank. But Troy Rohrbaugh, who was named co-CEO of JPMorgan's commercial and investment bank with Piepszak, has recently emerged as a dark horse candidate to take the CEO job.

    JPMorgan COO Daniel Pinto has long been the emergency backup CEO in case Dimon needed to leave on short notice.

    Dimon said his succession — and even when he leaves the job — is up to JPMorgan's board.

    "I have the energy I have always had," he said at the investor day event.

    Dimon didn't share more about the succession plan.

    The CEO's comments echo last year's investor day event, where Dimon said he can be "intense" with his managing style and noted: "I think when I don't have that intensity, I should leave."

    Read the original article on Business Insider