• 5 things to watch on the ASX 200 on Wednesday

    Smiling man with phone in wheelchair watching stocks and trends on computer

    On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had another poor session and dropped into the red. The benchmark index fell 0.4% to 7,718.2 points.

    Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

    ASX 200 expected to rebound

    It looks set to be a good day for the Australian share market on Wednesday after a positive session in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.25% higher. On Wall Street, the Dow Jones was up 0.4%, the S&P 500 pushed 0.6% higher, and the Nasdaq climbed 0.85%.

    Oil prices fall

    ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor session after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$83.04 a barrel and the Brent crude oil price is down 0.15% to US$86.47 a barrel. This may have been driven by profit taking after oil hit a two-month high.

    Buy Liontown shares

    The Liontown Resources Ltd (ASX: LTR) share price is undervalued according to analysts at Bell Potter. In response to its funding news, the broker has retained its speculative buy rating and $1.85 price target on the lithium developer’s shares. It said: “The LG CN funding is a pragmatic solution to remove the onerous terms associated with traditional bank debt and increase the company’s cash liquidity headroom. […] Under our modelled assumptions, we expect that LTR is fully funded to free cash flow.”

    Gold price relatively flat

    ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch following a flat night for the gold price. According to CNBC, the spot gold price is up a fraction to US$2,339.5 an ounce. This follows an update from the US Federal Reserve which revealed that it isn’t ready to cut rates yet.

    BHP rated as a buy

    Analysts at Goldman Sachs think BHP Group Ltd (ASX: BHP) shares would be a good option for investors. This morning, the broker has reaffirmed its buy rating and $48.40 price target on the mining giant’s shares. Goldman notes that BHP’s shares have an “attractive valuation, but at a premium to RIO. Although we believe this premium can be partly maintained due to ongoing superior margins and operating performance.”

    The post 5 things to watch on the ASX 200 on Wednesday 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 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 positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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 come the Telstra share price crashed 16% in FY 2024?

    Man on a laptop thinking.

    The Telstra Group Ltd (ASX: TLS) share price just closed out a financial year to forget.

    Shares in the S&P/ASX 200 Index (ASX: XJO) telco ended FY 2023 trading for $4.30 apiece. On Friday, the final trading day of FY 2024, shares closed at $3.62.

    That saw the Telstra share price down a painful 15.8% over the 12 months.

    For some context, the ASX 200 gained 7.8% over this same period.

    Now, shareholders will have gotten some reprieve from the two fully franked dividends the company paid out over the year. Telstra shares currently trade on a trailing yield of 4.85%.

    Here’s what put the ASX 200 telco under pressure in FY 2024.

    Why did the Telstra share price go backwards in FY 2024?

    Among the headwinds hitting the Telstra share price over the financial year just past is ongoing inflationary pressure.

    In February, Telstra CEO Vicki Brady indicated that sticky inflation was making the company’s cost reduction plans more difficult.

    “While our cost reduction ambition is being challenged by high inflation, we still expect to achieve the large majority of this by FY25,” she said.

    Telstra since revealed its plans to cut as many as 2,800 employees as part of that cost-cutting initiative. And in a move that’s divided analysts, the ASX 200 telco has said it will no longer increase its monthly mobile charges in line with inflation, as it has been doing.

    Investors also appeared displeased when Telstra announced on 17 August that it would not sell its holdings in InfraCo Fixed.

    “After thoroughly examining alternatives, we have concluded that the greatest value to be created for shareholders is by maintaining the current ownership structure of InfraCo Fixed, for at least the medium term,” Brady said.

    Some analysts had expected the asset sale to unlock additional value for the company. The Telstra share price closed down 2.8% on the day.

    Investors also didn’t react positively to Telstra’s half-year results, released on 15 February. Despite the company reporting a 1.2% year on year increase in income to $11.7 billion, and an 11.5% boost in net profit after tax, which came in at $1.0 billion for the six months to 31 December, the Telstra share price closed down 2.3% on the day.

    The selling was spurred by the underperformance of the telco’s NAS (network applications and services) business, which negatively impacted its guidance.

    Brady said on the day:

    Given the performance in our NAS business, we are tightening our FY24 underlying EBITDA guidance range to $8.2 to $8.3 billion. FY24 guidance across other measures is reaffirmed.

    Prior guidance was for earnings before interest, taxes, depreciation, and amortisation (EBITDA) to be between $8.2 billion and $8.4 billion.

    As for the new financial year, Telstra finished trading on the second day of FY25 yesterday at $3.61.

    The post How come the Telstra share price crashed 16% in FY 2024? appeared first on The Motley Fool Australia.

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

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

  • Oakley founder lists $68 million brutalist home — see inside the concrete compound that looks like a Bond villain’s lair

    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.

    • James Jannard listed a Beverly Hills compound for $68 million shortly after his record Malibu sale.
    • The Oakley founder recently set a record with a $210 million Malibu mansion sale, surpassing Jay-Z.
    • Jannard's net worth is an estimated $1.3 billion, per Forbes.

    Just days after making a record-breaking Malibu mansion sale for $210 million, Oakley founder James Jannard is back with another mammoth listing.

    The sunglasses mogul just put his Beverly Hills cement compound up for sale at $68 million, as first reported by Realtor.com.

    Jannard, who recently surpassed Jay-Z and Beyoncé to claim the title of California's most expensive home real estate sale ever, has an estimated net worth of $1.3 billion, according to Forbes.

    After starting Oakley in 1975, Jannard eventually sold the company 32 years later for $2.1 billion to Italian company Luxottica. He later founded the digital cinema camera company Red Digital Cinema before retiring in 2019.

    Scroll down to check out inside the mansion.

    The futuristic fortress, which spans 18,000 square feet, features five bedrooms, 10 bathrooms, and an intimidatingly giant oval courtyard.
    Oakley founder James Jannard listed his Beverly Hills cement compound.
    The giant oval courtyard is opened by two massive metal doors.

    The property, which Jannard purchased in 2009 for $19,900,000, was originally built in 2016, according to the listing. It's located in Trousdale Estates, which sits in the foothills of the Santa Monica mountains.

    Trousdale Estates has housed several stars since the 1950s, including Elvis, Elton John, and Jane Fonda.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The central lounge area is centered for a full view of the pool and Los Angeles.

    Resting on one of Beverly Hills's highest points, the luxurious neighborhood offers a sweeping view of Los Angeles and easy access to Sunset Boulevard. Its average home value is around $7 million, according to Zillow.

    The mansion, which took five years to finish, boasts a brutalist design with bare cement walls, aluminum ceilings and accessories, and all-metal fixtures.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The bathroom and appliances are all also fully metal.

    Inspired by Stonehedge, according to Wallpaper*, the cavernous manor includes floor-to-ceiling windows and oversized columns. Jeff Vance, owner of the architecture firm iDGroup, designed acoustic panels to remove echo and create a cozier living experience despite its cold appearance.

    Jannard reportedly also owns property in Newport Beach, California, two islands in Fuji, and a third in the Pacific Northwest.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The living room has a gas hearth covered with a large metal hood.

    The former Oakley CEO shelled out $7 million for a Newport Beach house back in 1999, The Los Angeles Times reported. Jannard reportedly also bought an acre of land north of the area and Corona del Mar for an additional $8 million.

    The kitchen is fully chrome, and nearly all the house's furniture is custom-made.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The fully chrome kitchen is both a shiny showstopper and fully functional.

    There is both a gourmet kitchen and a full chef's kitchen, as well as a bar, according to the listing.

    Some rooms are softened by wooden floors and expansive windows and skylights for the sun to brighten.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The mansion includes five bedrooms and ten full bathrooms.

    The property is just under two acres, according to the listing, and is priced at roughly $3,700 per square foot.

    Curved walls lead to the guest bedroom and a separate guest apartment.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The curved hallway leads to the master bedroom, where an 1880s Gatling gun is displayed.

    The guest and master rooms flank one side of the living area, while service rooms reside on the other side for a symmetrical layout.

    The central lounge area overlooks a massive infinity pool.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.

    The living room has a full glass wall that can completely retract into the ground for an unobstructed view of the entire Los Angeles basin.

    The light fixtures are made with tumbled aluminum, along with nearly all the seating and hardware.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The office has plenty of open space and sunlight for a bright workplace.

    Some rooms have wood accents to cut through the overwhelming industrial design furniture.

    The master bathroom includes a metal tub inscribed with a sentence written in J.R.R. Tolkien's Elvish language.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.

    Red, Jannards second company, manufactured the digital cameras that were used to film "The Hobbit" franchise.

    The concrete fort also includes a movie theatre, gym, wine cellar, and an elevator.
    Oakley founder James Jannard listed his Beverly Hills cement compound for $68,000,000.
    The mansion also includes a home theatre.

    The home theatre stays on the sci-fi theme with gray lounge seats and cement blocks adorning even grayer walls.

    Read the original article on Business Insider
  • Russia missed probably its best opportunity to steamroll Ukraine, war analyst argues

    In this photo released by the Russian Defense Ministry Press Service on April 15, 2024, Russian soldiers participate in a military exercise somewhere in Russian-controlled Donetsk region, eastern Ukraine.
    In this photo released by the Russian Defense Ministry Press Service, Russian soldiers participate in a military exercise somewhere in Russian-controlled Donetsk region in eastern Ukraine.

    • Russia squandered a major opportunity to make battlefield gains, says strategist Mick Ryan.
    • Despite recent momentum, Russia's made little forward progress, and its gains have come at a high cost.
    • Ukraine's improving military posture and strategic prospects challenge Russia's attrition tactics.

    Russia missed out on an opportunity to steamroll Ukraine and secure notable battlefield gains, former Australian major general Mick Ryan said on Tuesday.

    "Russia has built strategic momentum with its assaults on Ukraine in the past six months. However, they have largely failed to exploit their opportunities," Ryan, a fellow at the Center for Strategic and International Studies, wrote on X. "Russia appears to have blown what might have been its last chance to strike a decisive blow against Ukraine in this war," he said.

    The former general said Russia missed an opportunity to make gains that emerged in late 2023 when Ukraine wrapped up its unsuccessful counteroffensive, running short on munitions and manpower.

    Ryan argued that "the Russians over the last six months have generally failed to capitalise on this convergence of opportunities."

    This situation, he said, "was probably Russia's best opportunity to make significant gains on the battlefield which it could then turn into significantly increased political and diplomatic pressure on Ukraine for peace negotiations."

    He pointed to Russia's limited progress, noting that the Russians have paid in hundreds of lives for each kilometer of territory captured. That's a "poor return on investment – in any war," Ryan said. And casualties have been on the rise.

    Russia has been largely using its troops in small, costly actions, a war of attrition strategy President Vladimir Putin openly discussed last month. Ryan said this tactic is counterproductive and prevents the Russians from actually building a bigger, better quality force, a "large force that might be able to undertake larger scale offensive operations."

    After visiting Ukraine earlier this year, Ryan predicted that Russia's efforts to influence Ukraine's supporters could be an issue, as it had already led some Americans to minimize Ukraine's critical situation and turn away from supporting US aid efforts.

    In his latest argument, he said that Russia's campaign has notably been unconvincing to Ukraine's most prominent backers.

    While Russia may have time to ramp up its offensive attacks, Ukraine is trying to improve its own military posture at a steady pace.

    "The question now is whether Ukraine, which seeks to liberate more of its territory occupied by Russia, can build all the different physical, moral and intellectual elements of offensive combat power to do better than Russia has either later this year or in 2025," Ryan concluded.

    Read the original article on Business Insider
  • 3 best-performing ASX 200 mining shares of FY24

    Three satisfied miners with their arms crossed looking at the camera proudly

    The performance of ASX 200 mining shares in FY24 was mixed amid some commodity prices rising while others were volatile and fell (or absolutely tanked in the case of lithium).

    At the time of writing, silver is up 28% and gold is up 21% over the past 12 months, according to Trading Economics. Copper is up 16.5% and platinum is up 8%.

    On the flipside, lithium is down by more than 70% and iron ore is off 5%.

    So, perhaps it’s no surprise that the top three fastest-rising ASX 200 mining stocks are involved in one of the star commodities of FY24.

    And that’s gold.

    The gold price reached all-time record highs repeatedly throughout FY24. Last night, the market reset the peak price once again at about US$2,338 per ounce.

    The apparent peaking of interest rates around the world was one factor in the gold price’s rise over FY24.

    Another was global geopolitical tensions, which encouraged investors and central banks to take on extra exposure to this traditional safe-haven asset.

    3 best ASX 200 mining shares for price growth

    Data from S&P Global Market Intelligence shows these are the top three ASX 200 mining shares for FY24.

    Red 5 Limited (ASX: RED)

    Red 5 is a gold explorer and producer with assets in Western Australia’s Eastern Goldfields area. They include the Darlot Gold Mine and the King of the Hills project.

    Red 5 was the most outstanding of the ASX 200 mining shares for price growth in FY24. The Red 5 share price rose by 89.5% over FY24.

    There were two significant surges for the Red 5 share price in FY24.

    The first was in August after the company announced outstanding drilling results and the completion of 95% of the FY24 mine plan at the King of the Hills mine.

    The second run was sparked in February after Red 5 released its 1H FY24 results. The company reported significant lifts in gold production and a 77% bump in sales revenue. Its net profit after tax (NPAT) was $29 million compared to a loss of $28.5 million in 1H FY23.

    In other news, Red 5 announced a proposed merger with fellow ASX 200 gold producer Silver Lake Resources Ltd (ASX: SLR) in February.

    West African Resources Ltd (ASX: WAF)

    West African Resources has a 90% interest in the Sanbrado Gold Operations and Kiaka Gold Projects in West Africa. The Government of Burkina Faso owns the remaining 10% in both projects. The company also owns the Toega Gold Deposit, which is 14km away from Sanbrado.

    The West African Resources share price rose by 86.1% over FY24. The share price ramped up mostly in the second half of FY24 after the miner issued a resource, reserve and 10-year production update in February.

    The miner forecasts production of 4.03Moz of gold between 2024 and 2033. This was 415,000 ounces higher than the previous forecast. The mine plans extend to 2034 at Sanbrado and 2042 at Kiaka, assuming an average gold price of US$1,400 per ounce. It expects peak gold production in 2029.

    The company increased its mineral resources estimate by 181,000 ounces to 12.8Moz of gold and decreased its ore reserves estimate by 275,000 ounces to 6.1Moz of gold.

    Construction costs at Kiaka are on-budget, with first production expected in 3Q FY25. The company is fully funded via a US$265 million debt facility till that point.

    Emerald Resources NL (ASX: EMR)

    Emerald Resources owns projects in Cambodia and Australia. Its flagship mine, Okvau, is 100% owned and located 275km northeast of Phnom Penh.

    The Emerald Resources share price rose by 72.2% over FY24. It rose pretty steadily throughout the year.

    In the last production update issued in April, Emerald Resources reported gold production of 28,539 ounces. That was at the upper end of its guidance of 25,000 ounces to 30,000 ounces per quarter.

    The company reported sales of 28.5koz of gold in the March 2024 quarter at an average price of US$2,069 per ounce.

    In other news, the company completed its takeover of Bullseye Mining via compulsory acquisition last month.

    The post 3 best-performing ASX 200 mining shares of FY24 appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Emerald Resources Nl right now?

    Before you buy Emerald Resources Nl 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 Emerald Resources Nl 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 Bronwyn Allen 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.

  • Greece’s plan for a 6-day workweek to boost productivity may not work

    White homes dot the mountainside of the Folegandros island overlooking the Aegan Sea
    Workers in Greece might have less time to enjoy the country's beauty if they're working more.

    • Greece is shifting to a six-day workweek in some industries to boost productivity.
    • The new 48-hour workweek counters global trends toward shorter ones for better productivity.
    • Critics argue longer hours may lead to burnout, despite higher pay for additional workdays.

    So long, siga siga.

    The Greek phrase meaning "slowly, slowly" refers to the relaxed pace of life in the country famous for its culture, history, and clear Mediterranean waters.

    It could be harder for some workers to embrace that philosophy as the country prepares to shift to a six-day workweek for some industries.

    The Greek government says the move to a 48-hour workweek, which is set to start Monday, could boost productivity amid a declining population and a dearth of skilled workers. The shift is notable because it runs counter to the companies and countries that are experimenting with a four-day workweek.

    Working longer hours can help people further refine their skills, but it can also lead to decreased productivity because of fatigue and burnout, research shows.

    The extra hours will come with a 40% jump in pay for Greek workers who add two hours to their day or take on an extra eight-hour workday. The change, which won approval in September, applies to workers in industries like agriculture, retail, and various service industries, as BI previously reported. It also applies to private businesses that operate 24 hours a day.

    Even with the bump in pay for the extra time, some union officials are decrying the shift.

    "It makes no sense whatsoever," Akis Sotiropoulos, from the civil servants' union Adedy, told The Guardian. "When almost every other civilized country is enacting a four-day week, Greece decides to go the other way."

    Doing more with less

    Experiments with the four-day workweek have often shown being on the job for less time makes workers more productive because they're better rested, more focused, and have more time to attend to needs that arise in their personal lives outside work.

    One study that examined manufacturing in the US found that when overtime increased by 10%, productivity dropped by 2% to 4%.

    Another review examined the output of more than 10,000 skilled workers at a large tech company in India working from home. When time on the clock went up — including a jump of 18% outside normal work hours — output slipped, and productivity dropped between 8% and 19%. The biggest culprit: more time spent communicating and coordinating and less time engaging in uninterrupted work.

    Research shows workers often benefit when they have time away from their jobs to recover.

    Having more free time can also boost gratitude among employees. Zachary Toth runs a small manufacturing company in Toronto. He previously told BI that he and his management colleagues began looking into a four-day workweek after seeing successful pilots in Japan and other countries.

    Toth didn't expect the extra time away from the factory would encourage workers to show up without being asked.

    "They just came in because they knew there was a project that had to be finished, and they didn't want productivity to fall. They wanted to make sure we keep doing the four-day workweek," he said.

    Toth, the owner and president of Metex Corporation, said productivity has increased "in every single way."

    Basis Technologies, an advertising software company, shifted its workweek to four and a half days after years of experiments with a four-day workweek and other approaches. For 2024, it settled on making Fridays a half day.

    Emily Barron, the company's executive vice president of talent and development, previously told BI that the company had been looking for ways to give workers more time to decompress while still meeting the business's needs. For now, the half-day approach is best, she said.

    "It really is intended for people to take a mental break, to get caught up, to, you know, go to that workout class that they couldn't get to at 7:30 in the morning," Barron said.

    The end of the 5-day week

    In Greece, the longer workweek is designed to address changing demographics, which the country's prime minister, Kyriakos Mitsotakis, has called a "ticking timebomb," according to the Guardian. Some 500,000 largely young and educated Greek citizens have left the country following a debt crisis that began more than a decade ago, the newspaper reported.

    The new rule is voluntary, but some critics say it will effectively mark the end of a five-day workweek.

    Aris Kazakos, an emeritus labor law professor at the Aristotle University of Thessaloniki, recently told Germany's DW news outlet that bosses can require workers to work a sixth day, and workers can't say no.

    The move to six days "will kill off the five-day workweek for good," he said.

    Read the original article on Business Insider
  • Russian submarines fought a torpedo duel in waters surrounded by NATO allies

    A black submarine sits in the water next to a dock. Sailors walk up a ramp to get into the submarine.
    Russian crew members get on board of the newly built "Novorossiysk" B-261 multipurpose diesel-electric submarine in Saint Petersburg.

    • Two Russian submarines engaged in a torpedo duel during a Baltic Sea training exercise last week.
    • The crews of the Novorossiysk and Dmitrov also trained to track enemies and evade enemy attacks.
    • The Baltic Sea has been described as a "NATO lake" since Sweden and Finland joined the alliance.

    Two Russian submarines recently fought a torpedo duel, conducting training that involved detecting enemies, evading attacks, and working combat maneuvers.

    The exercises took place in the Baltic Sea, waters sometimes referred to as a "NATO lake" due to its waters being surrounded by NATO allies since Sweden and Finland ascended into the alliance.

    The Kilo-class, diesel-electric submarines Novorossiysk and Dmitrov held a training duel involving torpedo fire, according to Russian state-run media TASS. The media outlet reported the training exercise on June 25, citing the Russian navy.

    In the Baltic Sea following the completion of anti-submarine warfare maneuvers, the submarine Novorossiysk engaged the Dmitrov with a training torpedo without a warhead, the navy said, per TASS.

    The submarine crews also conducted several other exercises focused on detecting and tracking adversary submarines, evasion, and combat training.

    The subs Novorossiysk and Dmitrov are representative of two of several variants of Russian Kilo-class submarines. The Novorossiysk, for instance, is a project 636.3 sub and can launch Kalibr cruise missiles. 636.3s are the most current Kilo-class subs being built. The Dmitrov, on the other hand, is a project 877 sub, one of the original variants built.

    Both subs are known for being relatively quiet, but the Novorossiysk and other project 636.3 subs are considered to be highly advanced and stealthy vessels. After wrapping up the torpedo training, the two Russian submarines went on to conduct other combat exercises in the Baltic Sea, Russian media said.

    Various NATO warships sail in columns in the blue water of the Baltic Sea.
    Ships from NATO navies sail in formation in the Baltic Sea during the exercise Baltic Operations 2023.

    The Baltic Sea area has seen geopolitical shifts since Russia invaded Ukraine two years ago and neighboring Finland and Sweden joined NATO.

    It has sometimes been referred to as a "NATO lake" considering that eight of the nine countries bordering it are now members of the alliance. Russia is the only exception. That's a stark difference from 1990, when only two Baltic Sea countries, Denmark and Germany, were NATO members.

    The "NATO lake" term has been debated and criticized as presumptuous, with some experts calling it a "fatal" mistake as the Baltic Sea can be traversed by any seafaring nation and remains an important strategic front for Russia.

    The Baltic Sea has become increasingly important for NATO's military presence, but Russia also sees the body of water as vital to its commercial shipping, oil exports, and trade from ports like St. Petersburg and Primorsk.

    The region is also home to increasing Russian anti-access/area denial capabilities, particularly in the Kaliningrad area. These capabilities include cruise missiles, surface-to-air missiles, and nuclear weapons, making the sea strategically important for both Moscow and NATO.

    Read the original article on Business Insider
  • Biden wanted the debate to give his campaign a boost. But after his poor performance, new polling shows Trump ahead.

    Joe Biden and Donald Trump
    President Joe Biden and former President Donald Trump remain locked in a competitive contest.

    • President Biden wanted to use the debate to change the dynamics of the 2024 race.
    • But his poor performance sent Democrats reeling and has opened him up to intraparty criticism.
    • In the latest USA Today/Suffolk University poll, Trump boasted a 41%-38% advantage over Biden.

    Weeks before the June presidential debate, the Biden campaign had sought to shake up the dynamics of the race, agreeing for the president to take the stage with former President Donald Trump.

    Biden's team wanted the debate to crystallize what they've long argued: that the president was well-equipped to serve in a second term and would be the more effective leader on the world stage.

    But the president's visible debate stumbles set his campaign back enormously in the eyes of top donors and even among some Democratic lawmakers, which in turn has so far deprived him a potential polling bounce that could have broken the deadlocked race.

    Instead, two major national surveys released after the election showed Biden lagging behind Trump.

    In a new USA Today/Suffolk University poll, Trump boasted a 41% to 38% lead over Biden among registered voters, still within the margin of error of ±3.1 percentage points.

    However, a USA Today/Suffolk poll released in May showed both candidates tied, 37% to 37%.

    In the latest survey, Independent candidate Robert F. Kennedy Jr. received the support of 8% of registered voters.

    While the race remains close overall, Biden is still far behind Trump when it comes to enthusiasm, per the new USA Today/Suffolk survey.

    Among Biden voters, 29% of respondents said they were "very excited" to vote for him, while 31% said they were "somewhat excited" to back him. A quarter (25%) of Biden voters said they were "not very excited" to support him.

    When it came to Trump voters, 59% of respondents said they were "very excited" to support him, while an additional 23% said they were "somewhat excited" to back his candidacy. Only 11% of Trump voters said they were "not very excited" about his 2024 campaign.

    The latest CNN poll, conducted across three days after the debate, showed Trump with a 49% to 43% lead over Biden.

    Despite Democratic frustration over Biden's performance, the results reflected no change from CNN's April survey.

    But there were some key nuggets in the latest CNN poll:

    • Vice President Kamala Harris runs more competitively with Trump than Biden in a potential matchup should the president exit the race. Trump has a narrow two-point lead (47% to 45%) over Harris among registered voters in such a scenario.
    • In a potential Harris-Trump matchup, the vice president wins 50% of female voters, compared to Biden's current 43% share against the former president.
    • California Gov. Gavin Newsom, Michigan Gov. Gretchen Whitmer, and US Transportation Secretary Pete Buttigieg — who have all been floated as potential Biden replacements — all trail Trump by single-digit margins in hypothetical matchups.
    Read the original article on Business Insider
  • Category 5 hurricane leaves Caribbean islands bare, flooded, and damaged

    Hurricane Beryl is tearing through the Caribbean after making history as the earliest Category 5 hurricane ever recorded in the Atlantic hurricane season.

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  • ‘House of the Dragon’ star Ewan Mitchell isn’t sure if Aemond has ‘mommy issues’

    aemond targaryen, shirtless, leaning softly against a woman as she cradles him. his hair is down and his eyepatch removed, and there's a placid expression on his face
    Aemond Targaryen (Ewan Mitchell) cuddles several times with a prostitute in "House of the Dragon."

    • Does Aemond Targaryen have mommy issues? Maybe. 
    • Ewan Mitchell says that Aemond found a "surrogate" in his very old, powerful dragon Vhagar.
    • Vhagar's power influences the way that Aemond acts, Mitchell said. 

    Warning: Minor spoilers ahead for "House of the Dragon" season two, episode three.

    "House of the Dragon" star Ewan Mitchell thinks that Aemond Targaryen probably just needs a little more affection from his mother.

    Aemond is the second son of Alicent Hightower and Viserys Targaryen, and the younger brother of ruling King Aegon II. Unlike his brother, who quite literally ran away from the throne and has spent much of his time as king threatening to fly out on the battlefield himself, Aemond is cool and calculating.

    In episodes two and three of "House of the Dragon" season two, Aemond seeks solace from a woman — the first he ever had sex with — in a brothel, chastely curling up with her and spilling out his worries. Though Aemond is fully naked, it's a raw, non-sexual kind of intimacy — one that suggests a kind of maternal love he's not getting elsewhere.

    Those scenes have made people online question whether Aemond has "mommy issues." And there's certainly no lost love between Alicent and Aemond: In the season two premiere, he says that his mother still blames him for starting the war by killing Lucerys, the son of his half-sister Rhaenyra.

    Business Insider spoke with Mitchell at the season two New York City premiere about Aemond's relationship with Alicent — and his dragon, Vhagar.

    "I don't know so much if he had mommy issues, or rather, he just wanted to be loved by his mom a little bit more," Mitchell told BI.

    "He felt despair, so he found a surrogate in Vhagar, so to speak an older lady, and kind of filled that void," he continued. "But is a dragon enough, or is there something else that could maybe help him? He needs help, he's a broken boy."

    Despite his own emotional turmoil, Aemond is still one of the most powerful war assets on the show. That's mostly because Vhaghar is very old, very big, and very powerful. Aemond claimed her after Laena Velaryon's death, instantly turning himself from a trod-upon, dragonless child into an immense, credible threat.

    Vhagar and Aemond's "power couple" status — Mitchell's words — affords the Targaryen prince a bit of freedom, according to the actor.

    "Aemond, he doesn't need to be evil. If he's hostile in a scene, it's not because he needs to be," Mitchell said. "It's because he wants to be, because he has that large dragon whose shadow looms so large. It changes the dynamic of the character, and the choices that you make as a performer."

    "House of the Dragon" season two airs Sundays at 9 p.m. ET on HBO and is streaming on Max.

    Read the original article on Business Insider