• Buy Coles and these ASX 200 dividend stocks in July

    Happy couple enjoying ice cream in retirement.

    If you’re building an income portfolio, then it could be worth looking at the ASX 200 dividend stocks named below.

    Here’s why they could be good options for income investors this month:

    Cedar Woods Properties Limited (ASX: CWP)

    Morgans thinks this property company could be a good ASX 200 dividend stock to buy.

    The broker highlights that “CWP is a volume business and the demand for lots looks to be improving, with margins to invariably follow.”

    It expects this to support the payment of dividends per share of 18 cents in FY 2024 and then 20 cents in FY 2025. Based on the current Cedar Woods Properties share price of $4.80, this equates to dividend yields of 3.75% and 4.15%, respectively.

    Morgans has an add rating and $5.60 price target on its shares.

    Coles Group Ltd (ASX: COL)

    Another ASX 200 dividend stock that has been named as a buy is Coles. It is one of the big two supermarket operators with over 800 stores across Australia. In addition, the company has a liquor network comprising almost 1,000 stores across several brands and joint ownership of the Flybuys loyalty program.

    Morgans is also feeling positive about Coles and sees it as a great option for income investors. This is due partly to its cost reduction plans and stronger than expected sales growth.

    As for dividends, the broker is forecasting fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $17.35, this will mean dividend yields of 3.8% and 4%, respectively.

    Morgans has an add rating and $18.95 price target on its shares.

    Telstra Group Ltd (ASX: TLS)

    Goldman Sachs is feeling even more positive about this telco giant after an update this week and sees it as an ASX 200 dividend stock to buy.

    It notes that Telstra’s price increase update “highlight: (1) mobile market rationality remains (particularly when combined with the recent Optus increase); (2) TLS mobile earnings growth remains strong, driven by subscribers and ARPU.”

    The broker believes this will now underpin fully franked dividends of 18 cents per share in FY 2024 and then 19 cents per share in FY 2025. Based on the current Telstra share price of $3.82, this equates to yields of 4.7% and 5%, respectively.

    Goldman has a buy rating and $4.30 price target on Telstra’s shares.

    The post Buy Coles and these ASX 200 dividend stocks in July appeared first on The Motley Fool Australia.

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

    Before you buy Coles Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles Group Limited wasn’t one of them.

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

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

    See The 5 Stocks
    *Returns as of 10 July 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Coles Group and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Buy this ASX tech stock for a 20%+ return: Goldman Sachs

    A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.

    There could be some big returns on offer in the tech sector still according to analysts at Goldman Sachs.

    One such example is ASX tech stock CAR Group Limited (ASX: CAR).

    What is the broker saying about this ASX tech stock?

    According to a note out of the investment bank this morning, its analysts believe the auto listings company is well-placed for strong growth over the coming years despite some foreign exchange and Trader Interactive (TI) headwinds. It commented:

    We revisit the near-term earnings outlook for CAR ahead of FY24 results, noting recent investor queries around: (1) US and AU dealer health; (2) FX; and (3) potential M&A. Overall, we remain confident that despite spot FX and TI dealer headwinds, CAR is well-placed to continue delivering ‘good’ earnings growth (i.e. > 10% EBITDA) & remains our preferred classified into earnings.

    Goldman also highlights that the ASX tech stock’s Australian business is performing strongly despite a challenging ad-market. It said:

    AU trends remain robust, particularly in used, with volumes (> 95% of total) remaining solid (Ex 4-7); pricing power continues (i.e. 5-6% price increase in private, we expect 4-5% dealer increase in Sept, as used dealer margins remain strong & CAR didn’t increase materially through covid), while media revenues are supported by healthy new car volumes despite the challenging ad-market. With elevated CAR domestic opex growth in 1H24 (13.4%), there is also scope to slow investment and maintain double digit EBITDA growth.

    Big returns

    In light of the above, the broker has reaffirmed its buy rating on the ASX tech stock with an improved price target of $41.40. Based on its current share price of $34.76, this implies potential upside of 19.1% for investors over the next 12 months.

    In addition, Goldman Sachs is forecasting partially franked dividend yields of 2.1% in FY 2024 and 2.3% in FY 2025. This brings the total potential 12-month return beyond 21%, which is more than double the historical return of the share market.

    Goldman then concludes by summarising its buy thesis. It said:

    Carsales is the largest Auto classified domestically, in addition to having strong international operations in Korea, US (Non-auto) and LATAM. We are Buy rated on CAR as we are increasingly confident in the company’s earnings momentum (both locally & globally) – forecasting +11% EPS CAGR across FY24-27E. Downside risks include: (1) Global macro trends; (2) dealer relationships; (3) FX exposure.

    The post Buy this ASX tech stock for a 20%+ return: Goldman Sachs appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Carsales.com right now?

    Before you buy Carsales.com 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 Carsales.com 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 10 July 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Car Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why did ASX retail shares rise 19% in FY24 amid a cost of living crisis?

    A young man sitting at an outside table uses a card to pay for his online shopping.

    ASX retail shares had a pretty decent year in FY24, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) rising 19.29% over the 12 months.

    Does that strike you as strange? In the middle of a cost-of-living crisis?

    Consumers have been cutting back big-time on their discretionary spending for many months now, yet ASX retail shares went up in FY24 at more than twice the pace of the benchmark index.

    The S&P/ASX 200 Index (ASX: XJO) rose by 7.83% in FY24, or 12.1% if you include dividends.

    So, why did this happen?

    Why did ASX retail shares rise during a cost-of-living crisis?

    David Rumbens, a partner at Deloitte Access Economics, has an answer for us.

    In a blog, Rumbens explained why discretionary stocks defied sticky inflation and high interest rates in FY24 to rise by more than 19%.

    Rumbens said:  

    Consumer discretionary stocks defied expectations by posting a 19% increase despite the economy experiencing per-capita recession.

    This unexpected strength largely came from the first nine months of the financial year where consumer savings were being run down.

    Ah-ha! Housing savings.

    Household savings reached a historical peak during the COVID years. The household saving ratio, which means the percentage of income saved, hit an all-time high of 24% in the June 2020 quarter, according to data from the Australian Bureau of Statistics (ABS).

    This happened for three reasons.

    Firstly, we weren’t spending much during lockdowns.

    Secondly, many Australians received generous government stimulus payments, such as a beefed-up JobSeeker payment and the JobKeeper payment.

    Thirdly, emergency low interest rates during the pandemic meant many households with mortgages saved money and left it in their offset accounts.

    A saving grace for the economy

    This major increase in household savings has turned out to be a massive saving grace for our economy.

    This is because what followed COVID was initially unexpected.

    As the world reopened and inflation started rising, many economists and central banks predicted the inflation spike would be “transitory” and not too big a deal.

    But it turned out to be a big deal.

    Inflation hit a peak of 7.8% in Australia in the December 2022 quarter as the cost of living skyrocketed.

    Between May 2022 and November 2023, the Reserve Bank of Australia (RBA) raised interest rates 13 times.

    So, those pandemic savings are certainly coming in handy for struggling households today. Not only are they enabling people to continue spending at the shops, they’re also protecting home values, too.

    You see, despite home loan repayments increasing by 30% to 60% since May 2022, home loan arrears are still very low, according to the RBA. That means not too many people are being forced to sell, and that protects the market by keeping supply in check.

    In its latest Financial Stability Review, the RBA noted that pandemic savings were a key factor enabling borrowers to keep up with their repayments.

    The RBA said:

    Households are coping well due to a strong labour market, which is allowing them to increase their hours or get a second job if necessary.

    They are also drawing on large savings buffers, partly created by pandemic stimulus and lower spending during lockdowns, and have reduced their discretionary spending as necessary.

    The bank noted that about half of all borrowers had enough savings to pay their loans and cover the cost of essential living expenses for at least six months.

    Another factor supporting ASX retail shares in FY24 was the ongoing spending among baby boomers.

    CommBank research shows the baby boomers are still spending pretty freely at the shops, despite the cost of goods and services, like travel, going up.

    The boomers are one of the biggest population cohorts in Australia’s history, so the fact this group is still spending is helpful for retailers in a cost-of-living crisis.

    Best 3 ASX retail shares of FY24

    Here are the best ASX 200 retail shares of FY24 based on share price growth, according to data from S & P Global Market Intelligence.

    Lovisa Holdings Ltd (ASX: LOV)

    Budget jewellery retailer Lovisa led the consumer discretionary stocks in FY24 with a 70.3% share price gain. The Lovisa share price closed the session on Thursday at $32.34, down just 0.03%.

    Premier Investments Limited (ASX: PMV)

    The second top-performing ASX 200 retail share in terms of share price growth was Premier Investments, up 53.8% over the 12 months. The Premier Investments share price closed at $29.89 yesterday, up 0.88%.

    JB Hi-Fi Ltd (ASX: JBH)

    The JB Hi-Fi share price gained 39.9% over FY24. The ASX retail share closed at $65.25 yesterday, up 1.34%.

    The post Why did ASX retail shares rise 19% in FY24 amid a cost of living crisis? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Jb Hi-fi Limited right now?

    Before you buy Jb Hi-fi 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 Jb Hi-fi 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 10 July 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 positions in and has recommended Lovisa. The Motley Fool Australia has recommended Jb Hi-Fi, Lovisa, and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Biden refers to Kamala Harris as ‘Vice President Trump’ shortly after calling Zelenskyy ‘Putin’

    President Joe Biden at the NATO Summit in Washington, DC on Thursday.
    President Joe Biden at the NATO Summit in Washington, DC on Thursday.

    • President Joe Biden delivered his first press conference of 2024 amid questions about his future.
    • In response to a question about VP Harris, he referred to her as "Vice President Trump."
    • It was the first major gaffe he made at the press conference.

    At a press conference after the conclusion of this week's NATO summit, President Joe Biden referred to Vice President Kamala Harris as "Vice President Trump."

    "Look, I wouldn't have picked Vice President Trump to be vice president if I didn't think she was not qualified to be vice president," said Biden.

    It was his first major gaffe of the press conference, which remains ongoing.

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

    Earlier this evening, Biden referred to Ukrainian President Volodymyr Zelenskyy as "President Putin" before quickly correcting himself.

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

    This is a developing story. Please check back for updates.

    Read the original article on Business Insider
  • My partner and I divorced after 19 years together. It wasn’t the end of the world.

    a person sitting on the floor surrounded by moving boxes
    The author, not pictured, is starting over after their divorce.

    • I was with my partner for 19 years when we suddenly got divorced.
    • I am now working on rebuilding my life as a 40-year-old, independent person.
    • I am starting to find my identity and leaning on friends for support. 

    Nobody gets married planning to get divorced, and yet about half of all marriages end that way. This year I've learned even queer marriages aren't special or immune from this fate. Much to my great surprise, love doesn't always "win."

    I spent over 19 years with my now ex-partner, believing that what we had was forever. However, this year, a few months before turning 40, I learned the life we had was no longer what my partner wanted. They had a new life and wanted a divorce.

    In the aftermath, I was left figuring out who I was without them and how to rebuild my life as a newly middle-aged queer person.

    My childhood prepared me for this

    This month, the therapist I started seeing during the divorce "graduated" me out of therapy. It has been nearly six months since my ex-partner walked out. Her assessment is that I am thriving, solid, and confident with a plan for moving forward. She expressed amazement at my growth, noting that most people don't bounce back quickly from the shock of their families falling apart.

    I credit my experience as a homeless teenager with helping me bounce back so quickly. When you lose your home, world, and family as a kid, on some level, you'll always be prepared to lose it again.

    I spent years knowing my worst fear was my partner leaving. In our relationship, I did everything I could imagine to please my ex and prevent being abandoned. However, once they left and I realized the worst thing had happened, I was terrified, but I also felt a profound freedom.

    Starting over and rebuilding is a thing that I know how to do. I've done it before and knew I could and would do it again.

    I'm starting to rebuild my life

    Once I wrapped my mind around the immediate crisis of being abandoned, I realized the first thing I had to do was figure out who I was, and who I wanted to be now.

    In my case, spending practically all of my adult life (age 20-39) with a partner made it hard to know who I am as an individual. Divorce changes you. I will never be the person I was before that day in January when I came home and learned my marriage was over. To cope, initially, I immersed myself in my work, which, as a writer/small business owner, is never-ending.

    I got rid of all the clothes my ex-partner had wanted me to wear. I dyed and then more recently cut off my hair. My life was mine to architect, and I wanted to look as different on the outside as I felt on the inside. I committed to my creative projects. I reconnected with friends and creative collaborators around the world. I started going out to social and community events. I reinvested my time and presence in the subcultures and interests that were mine before I met my now ex-partner.

    Essentially, I started investing in getting to know myself again. As part of this journey, I've found that being in a community, being surrounded by people who have the same passions as I do, makes me feel less alone and more excited about the future than I've felt in years.

    I'm leaning on my chosen family for support

    I'll never forget the night after my ex-partner left when I got a call from one of my now closest friends. "Let me be part of your inner circle?" he asked.

    In that moment all the lessons I learned as a homeless youth flashed through my brain. I could white-knuckle myself through this alone, trusting nobody, or I could remember that not everyone was trying to hurt me and create a new family built on trust, love, and shared experiences. Queer chosen family has always been important to my sense of self, but that has been especially true this year.

    As I have navigated my divorce I have loved deeply, and I have let people love me. I have let people emotionally show up for me and trusted them not to hurt me. Contrary to my deepest fears, I wasn't isolated, and there were people ready and excited to build a new family with me. These are friends who were there on my worst days. People who got in their car in an ice storm to get to me the day my ex-partner left stayed up all night on the phone with me, listening as I tried to make sense of what happened.

    I never wanted my relationship to end in divorce, and I never imagined it would. However, now that it has, I've learned that isn't the end of the world.

    Being alone is scary, but much to my surprise, even though I'm starting over at 40, I feel much less alone than ever before. I'm surrounding myself with people who love me for who I am. I'm also learning that I like the new life I'm building — maybe even better than the one I lost.

    Read the original article on Business Insider
  • Ukraine’s navy is harassing Russian forces with 16 new armored assault boats built by Sweden

    Two CB90 fast assault crafts sail near snowy mountains during military exercises.
    Deployed by naval forces around the globe, the Swedish-built CB90 fast assault boats have supported various missions and operations.

    • Ukraine's navy has acquired at least 16 Swedish-made patrol boats this year to counter Russia.
    • The CB90 assault craft can deploy on various missions, from troop delivery to mine reconnaissance.
    • They are also configurable — able to act as an armored raider or floating command center as needed.

    Ukraine's navy added three Swedish-made patrol boats to its fleet earlier this month as it continues to hammer Russian naval forces in the Black Sea.

    The recent CB90 delivery comes after Sweden announced its massive $682 million military aid package to Ukraine in February, which included 10 CB90 vessels and 20 other riverine boats. The Netherlands similarly provided three more CB90s to Ukraine a month later, for a total of at least 16.

    Turning the tide in the Black Sea
    Swedish Marines prepare a CB90-class fast assault craft for mooring.
    Swedish Marines also operate the CB90-class fast assault craft.

    Steel Front, a military assistance initiative run by Ukrainian billionaire Rinat Akhmetov, sent Ukraine the new CB90-class fast assault crafts, which are already in operation in waters near Crimea.

    Following a six-month effort by Steel Front and Ukrainian steel giant Metinvest, the three vessels and crew training for Ukrainian forces cost more than $4.1 million.

    "There is no doubt the Black Sea is an important front," Oleksandr Vodoviz, an executive at Metinvest, said in a statement, "and our aim is that these powerful boats will make a significant difference to Ukraine's ability to defend itself."

    In total, Sweden has provided at least 13 CB90s to Ukraine's navy. The Netherlands donated nearly two dozen inflatable and armored boats, including three CB90s, to Ukraine in March. The Finnish Ministry of Defense also delivered a number of landing crafts to Ukraine. It wasn't immediately clear what type of vessels were sent, but Finnish media speculated them to operate similarly to the Swedish CB-90.

    Inside the CB90
    Swedish and US Marines drape a cover over the frame of a Swedish CB90 to conceal it.
    Swedish and US Marines drape a cover over the frame of a Swedish CB90 to conceal it.

    Dockstavarvet, a shipyard owned by Swedish defense manufacturer Saab, originally developed the CB90 for the Swedish Navy.

    The 52-foot-long patrol boat is propelled by twin diesel engines that allow it to travel at speeds of up to 40 knots — or 46 miles per hour — with a range of more than 240 nautical miles.

    Two partially ducted water jets make the lightweight CB90 highly maneuverable. It can make sharp turns and come to a complete stop in about 130 feet.

    Armed to the teeth
    US Marines disembark a CB90 during military exercises.
    US Marines disembark a CB90 during military exercises.

    The combat boat is equipped with a gun mount atop its wheelhouse, which can mount a .50-caliber machine gun, 40mm grenade launcher, or remote-controlled weapons.

    In addition to its top-mounted guns, the CB90 can deploy Hellfire anti-ship missiles, 2.8-ton sea mines, and depth charges.

    A versatile vessel
    US Marines conduct CB90-class fast assault craft drills during exercises in Harstad, Norway.
    A CB90 approaches a rocky shore during exercises in Harstad, Norway.

    Designed to patrol and defend coastal waters, the shallow-draught CB90 can be deployed in both open waters and rocky shores for missions like ferrying troops, mine reconnaissance, or landing troops for amphibious raids.

    From gunboat to command post
    US Marines approach the shore as they prepare to disembark during military exercises.
    US Marines approach the shore as they prepare to disembark during military exercises.

    The vessel's aft is also configurable; it can accommodate a range of gear, from remote-controlled weaponry to additional radar and communications equipment.

    Armed and armored
    A Swedish CB90-class fast assault craft transits near another CB90 in the distance.
    The CB90's ballistic protection safeguards the crew and equipment.

    Whether operating as a combat-ready gunboat or a floating command post, the CB90 has a durable hull made of lightweight polyethylene lining and safety glass, offering ballistic protection to shield its personnel and vital components during hostile operations.

    "With its armament and ballistic protection, the CB90 can deliver its troops in the face of enemy fire with a degree of survivability for both the craft and embarked troops," Pete Pagano, a retired US Navy officer, wrote in an article for the US Naval Institute's Proceedings magazine.

    While the armed and armored CB90 can survive the potentially high-risk delivery, Pagano wrote that the Swedish-built vessel alone "could provide limited supporting firepower for the embarked troops during the vulnerable approach to and landing on the beach," calling for support from other landing craft to bring in heavy equipment.

    Transport for troops and cargo
    A Norwegian Coastal Ranger Commando carries a simulated casualty to a CB90-class fast assault craft during medical evacuation drills.
    A Norwegian Coastal Ranger Commando carries a simulated casualty to a CB90 during medical evacuation drills.

    The boat is typically operated by a crew of two officers and one engineer, with two operator seats and a middle jump seat in an aircraft-style cockpit.

    The CB90's midsection has a compartment that can carry 21 combat-ready Marines and up to 4.5 tons of cargo, making it an efficient method to deploy troops or extract casualties.

    Deployed by naval forces around the globe
    A Marine is seen standing aboard a CB90 as it transits near buildings in Stockholm.
    A Marine is seen standing aboard a CB90 as it transits near buildings in Stockholm.

    Since being commissioned in 1991, more than 200 CB90 boats have been operated by naval forces worldwide. The US Navy even contracted US-based boat manufacturer SAFE Boats International to build CB90s as riverine command boats.

    The combat boat's design and capabilities have also been modified over the years. Dockstavarvet optimized the boat's design in its next-generation variant, the CB90 HSM, altering the engine position to make it quieter and more efficient.

    The CB90 HSM features a new combat management system and surveillance sensors, making it "a whole new breed, ready to take on the coasts of Sweden," according to a press release.

    Supporting Ukraine's riverine flotilla
    A CB90 sails down a shallow river.
    A CB90 sails down a shallow river.

    While the new combat boats are operating near Crimea, CB90 boats supplied by Ukrainian allies have bolstered the country's riverine units, which have been hammered by Russian forces.

    Explosive-laden Russian drones and artillery have decimated Ukrainian boat crews defending the Dnipro River in southern Ukraine.

    Last October, a Russian ace drone pilot, identified by the call sign "Moisey," struck nearly 400 Ukrainian marines and three dozen vessels.

    "We were sitting in the water at night, and we were shelled by everything," a Ukrainian marine named Maksym, who was stationed at the river's east bank, told The New York Times in December. "My comrades were dying in front of my eyes."

    Maksym added that Russian aircraft continued to pummel the left bank with glide bombs as the Ukrainian platoon tried to evacuate.

    "The left bank was like purgatory," he said. "You are not dead yet, but you don't feel alive."

    The Swedish CB90s, among additional donated boats from other allied nations, have been integral to Ukraine's efforts to fend off Russian forces in the region.

    Read the original article on Business Insider
  • Biden introduces Zelenskyy as Putin in latest major flub

    Biden Zelenskyy
    Ukrainian President Voldomyr Zelenskyy and President Joe Biden shake hands in June 2024.

    • President Joe Biden had a major mix-up while speaking at a NATO summit on Thursday.
    • The 81-year-old president introduced Voldomyr Zelenskyy as Vladimir Putin.
    • Biden quickly corrected himself and told Zelenskyy he was "better" than Putin. 

    President Joe Biden introduced Ukrainian President Voldomyr Zelenskyy as Russian President Vladimir Putin in a cringeworthy moment at a NATO conference on Thursday.

    The inaccurate introduction is Biden's most recent flub amid increasing skepticism over the 81-year-old president's fitness for office, including from members of his own party.

    "Now I want to hand it over to the president of Ukraine, who has as much courage as he has determination," Biden said. "Ladies and gentlemen, President Putin."

    Putin has waged a yearslong war in Ukraine after invading the neighboring country in February 2022.

    Biden quickly caught his mistake after mixing up the two leaders on stage.

    "He's gonna beat President Putin, President Zelenskyy," Biden said. "I'm so focused on beating President Putin."

    Zelenskyy, for his part, appeared to make light of the situation, responding, "I'm better."

    "You are a hell of a lot better," Biden said.

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

    NATO leaders appeared to give halted applause following Biden's mix-up, with some chuckling and smiling following his correction.

    The gaffe comes as a growing number of Democrats publicly call on Biden to drop out of the 2024 election following his disastrous debate performance earlier this month.

    Vermont Sen. Peter Welch was the first Senate Democrat to urge Biden to end his reelection campaign, writing in a Wednesday op-ed that he no longer believes Biden to be the best candidate to beat former President Donald Trump come November.

    Meanwhile, thirteen House Democrats and counting have called on Biden to step down as the party nominee.

    Biden's Thursday slip-up unfolded less than an hour before the president will face reporters in an unscripted, live press conference to wrap up the NATO summit in Washington, DC, this week.

    Read the original article on Business Insider
  • See the XQ-67A combat drone’s first flight as the US Air Force works to build its fleet of manned and AI-piloted aircraft

    The XQ-67A in a hangar in front of an American flag.
    The XQ-67A in a hangar in front of an American flag.

    • General Atomics released video showing the maiden flight of the US Air Force's XQ-67A drone.
    • The autonomous aircraft is part of the service's effort to build out its manned and unmanned fleet.
    • The Air Force plans to deliver 100 collaborative combat aircraft by 2029, with up to 2,000 in total.

    In what appears to be a fist pump as a rapidly built and developed new combat technology comes to life, the US Air Force and contractor General Atomics Aeronautical Systems (GA-ASI) have released a 90-second video showing the first flight of the XQ-67A, a likely predecessor of the service's long-anticipated collaborative combat aircraft, or CCA.

    The new video, published at the end of June, shows the unmanned aircraft taxiing from a covered hangar at the General Atomics Gray Butte Flight Operations Facility near Palmdale, CA, accelerating on the runway, and cruising and banking in the air before returning for a conventional landing.

    "Move fast. Move first," a slogan superimposed by the contractor reads as the drone taxis back.

    [youtube https://www.youtube.com/watch?v=_5ldg6vI-70?feature=oembed&w=560&h=315]

    It's been an eventful few months for the XQ-67A and the Air Force's efforts to create a fleet of low-cost, high-tech autonomy-capable aircraft that can network with and support manned fighters in the air. First unveiled in February 2024, the same month it took its first flight, the drone prototype was given a life extension in April when the Air Force awarded both General Atomics and Anduril funding to continue developing their designs. In its own announcement, GA-ASI confirmed it would be sticking with the design of the XQ-67A, which it has called an "Off-Board Sensing Station," or OBSS.

    "The CCA program redefines the future of aviation and will shape the USAF acquisition model to deliver affordable combat mass to the warfighter at the speed of relevancy," Mike Atwood, the company's vice president of Advanced Programs, said in an announcement at the time.

    Following the release of the previously unseen first flight footage on June 26, the Air Force Research Lab (AFRL) awarded GA-ASI a new $9.3 million contract for additional research on the platform, bringing AFRL's investment on the XQ-67A up to nearly $68 million. And, in an exclusive report published July 6, Air and Space Forces Magazine revealed that a first contract for delivery of CCA is expected to be awarded to one or both contractors this fall.

    The XQ-67A takes its maiden flight.
    The XQ-67A takes its maiden flight.

    The new angles highlighted in the short video underscore the unique design of this prospective fighter jet teammate. Like a fighter, it has a pair of angled vertical stabilizers, a large jet intake — in this case where the cockpit would be — and, as The War Zone has pointed out, what look like openings for side-looking airborne radar. Based on the taxi shots, the aircraft appears to be similar in size to a small private plane such as the Cessna Skyhawk. And like many aircraft in that category, it has fixed, rather than retractable, landing gear.

    The unknowns for this CCA prototype remain abundant, including its top speed, range, and payload capacity. Also unclear is what that payload will ultimately consist of, and whether the OBSS, or a variant, will be able to carry weapons. A payload that includes weapons has always been part of the Air Force's ultimate vision for the CCA. Also unclear is to what extent the OBSS, which is remotely piloted but also capable of autonomous flight, employed autonomy in its maiden flight.

    In an announcement accompanying the new footage, Air and Space Forces Magazine hailed the rapid design, building, and testing process that led to a first flight in just over two years.

    "It is the first of its kind to be built on a common chassis or genus — much like that of a motor vehicle frame — and with its first successful flight, the XQ-67A is proof that the genus approach works," the announcement stated. "This enables a faster and more cost-effective replication of the aircraft," it added.

    The XQ-67A taxies down a runway.
    The XQ-67A taxies down a runway.

    The OBSS shares much of its DNA with the Kratos XQ-58A Valkyrie, an entrant in the Air Force's Skyborg program that remains in use by the Marine Corps as a testbed platform. The Marine Corps anticipated the Valkyrie to meet a variety of needs ranging from electronic warfare to fires support, and as a platform to inform its own low-cost drone wingman program, the Penetrating Affordable Autonomous Collaborative Killer, or PAACK.

    Many challenges remain ahead of OBSS as the Air Force continues to fast-track plans for its cheap, smart drone fleet, which it calls Low Cost Attritable Aircraft Technologies, or LCAAT. The Air Force plans to fast-track production of the first 100 collaborative combat aircraft, delivering them to the fleet by 2029. Ultimately, according to Air Force Secretary Frank Kendall, who testified before Congress this spring, the service wants at least 1,000 and possibly as many as 2,000 CCAs at an individual cost of $30 million or less.

    The Air Force hopes CCA won't just augment or modernize air warfare — but transform it entirely. A report released in February from the Mitchell Institute for Aerospace Studies emphasizes that the service is the "oldest, smallest and least ready in its history" while it faces an "unprecedented threat" from a highly capable China. The report describes an internal wargame employing different mixes of CCA and manned fighters that showed how the unmanned aircraft, if made rugged and capable enough, could "help disrupt and suppress" the integrated air defense system employed by China and supercharge the Air Force's ability to project combat mass.

    The XQ-67A flies in front of snowy mountains on its maiden flight.
    The XQ-67A flies in front of snowy mountains on its maiden flight.

    CCA, the paper's authors write, could help disrupt China's preferred way of fighting and deny the country an assured victory, if employed correctly to multiply capabilities.

    "Understanding what is meant by 'collaborative' is important to fully appreciate the potential of CCA," the paper states. "AI-enabled CCA should be capable of collaboratively operating with other crewed and uncrewed aircraft to share threat information, their own locations, and fuel and weapons status across a force package. Future CCA could even be designed to autonomously assign targets to aircraft within a mission package to achieve the best weapons-to-target pairings," it adds.

    As the development phase for GA-ASI and Anduril moves forward, we'll be looking for demonstrations of how XQ-67A and other prototypes interact with manned fighters and exhibit the full effect of their autonomous and AI networking capabilities.

    READ MORE FROM SANDBOXX NEWS:

    Read the original article on Business Insider
  • Trump now says SCOTUS immunity voids his entire hush-money indictment, not just his conviction

    A courtroom sketch of Donald Trump at his arraignment, with Manhattan District Attorney Alvin Bragg pictured seated behind him.
    Donald Trump at his arraignment with Manhattan District Attorney Alvin Bragg seated behind him.

    • Trump now says SCOTUS immunity voids his entire hush-money case, not just his conviction.
    • The argument was made in a 55-page legal filing on Thursday.
    • It argues that grand jurors should never have seen 'official-act' evidence now banned by SCOTUS.

    In a new court filing made public Thursday, lawyers for former President Donald Trump argue that his newly-won presidential immunity voids not only his hush-money conviction, but the indictment itself.

    Grand jurors should never have been shown "official-act" evidence in violation of "the Presidential immunity doctrine" set earlier this month by the US Supreme Court, the 55-page filing argues.

    SCOTUS found that former presidents cannot be prosecuted for official acts and that such acts cannot be used as evidence against them, even in the prosecution of non-official acts.

    The filing appears to mention at least four instances of "official-acts testimony" used by Manhattan prosecutors in the grand jury that indicted Trump on 34 counts of falsifying business records.

    But one portion of Trump's filing has been redacted to obscure what this official-act evidence purportedly was.

    This excerpt from Donald Trump's hush-money immunity filing shows multiple redactions of evidence his lawyers say was improperly shown to grand jurors.
    This excerpt from Donald Trump's hush-money immunity filing shows multiple redactions of evidence his lawyers say was improperly shown to grand jurors.

    No reason for the redactions was given, but grand jury proceedings are presumptively secret in New York.

    Showing grand jurors this evidence retroactively tainted the indictment, Trump argues.

    "Because an Indictment so tainted cannot stand, the charges must be dismissed," a lawyer for Trump, Todd Blanche, writes in the filing.

    Read the Trump motion to dismiss his hush-money indictment and his verdict here.

    Trump's defense team had warned in a one-page court filing just hours after the landmark immunity opinion was published that it would be using it to challenge his May 30 hush-money conviction.

    This is a breaking story; please check back for developments.

    Read the original article on Business Insider
  • Is it time to dive back into ASX lithium shares?

    A colourfully dressed young skydiver wearing heavy gold gloves smiles and gives a thumbs up as he falls through the sky.

    ASX lithium shares have suffered greatly over the past year or two, but now some experts think there could be opportunities within the ASX mining share sector.

    The S&P/ASX 200 Index (ASX: XJO) offers many different potential investment options, including the major iron ore miners, BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), and Fortescue Ltd (ASX: FMG).

    According to reporting by the Australian Financial Review, mining-focused fund managers are looking beyond the ASX iron ore shares to find the next stage of returns, so those experts are digging into other sub-sectors of the ASX materials sector.

    Experts say ASX mining shares are great value

    Ben Cleary, the portfolio manager of Tribeca’s Global Natural Resources fund, told the AFR:

    Resources equities are just screaming value. While I think rate cuts are on the horizon, they aren’t necessarily needed for the commodities equities to perform strongly in the second half, but it’ll certainly help.

    In terms of lithium, Janus Henderson’s Global Natural Resources Fund portfolio manager, Darko Kuzmanovic, is bullish on the battery metal and has been buying shares of Mineral Resources Ltd (ASX: MIN) and Pilbara Minerals Ltd (ASX: PLS).

    Janus Henderson is excited by signs that electric vehicle sales in China are increasing, according to the AFR. Kuzmanovic said:

    Lithium could be a surprise into the end of 2024, as lithium equities are trading at levels that imply the whole EV transition is over.

    The groundwork is set for a strong rebound in resources equities and commodity prices over the next few months into year’s end.

    Another expert who’s bullish on lithium is Ethical Partners investment director Nathan Parkin, who had this to say:

    We like the lithium sector. The underlying fundamentals are still quite strong, but there has just been lots of noise that people put a lot of weight on, but our view is that you can look through that noise.

    Ethical Partners owns IGO Ltd (ASX: IGO) shares as one of its main positions. With the ASX lithium share’s cash costs below spot prices. Parkin suggested IGO can keep making money even if prices drop further.

    Are there any other commodities opportunities?

    The copper price has reduced from its all-time high of US$11,000 per tonne earlier this year. Cleary is optimistic about copper and thinks prices will need to increase again to incentivise enough supply to meet the strong demand amid global decarbonisation.

    The Tribeca resources fund has invested in Sandfire Resources Ltd (ASX: SFR) as one of the opportunities in that space.

    The post Is it time to dive back into ASX lithium shares? appeared first on The Motley Fool Australia.

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    Motley Fool contributor Tristan Harrison has positions in Fortescue. 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.