• Hotels and offices are using an AI tool that scans what they throw in the trash to reduce their food waste and cut costs

    Photo of a kitchen worker pouring food waste - cucumber and potato - into a trash can
    According to the United Nations Environmental Program, 19% of food available to consumers globally was wasted in 2022.

    • Some kitchens are turning to AI to monitor how much food they're wasting.
    • AI company Winnow tracks food waste going into the trash using a motion-sensor camera and scales.
    • Hilton has been using Winnow to reduce waste at its breakfast buffets by serving smaller portions of croissants, fruit, and salmon.

    Hotels are reducing how much food they waste at their breakfast buffets by installing AI-powered cameras above their kitchen trash cans.

    British company Winnow's hardware involves a scale that kitchens place a trash can on, as well as a screen with a motion-sensor camera. Its AI scans the items after they're placed in the trash — it can identify whether that was a bowl of carrot peelings, excess guacamole, or uneaten mashed potato — and the scale then records how much of that item was thrown away.

    Chefs and restaurant managers can see this data in real time.

    Photos showing a display screen and a scale provided by the AI company Winnow for tracking food waste
    Winnow's hardware involves a scale and a screen with a motion-sensor camera.

    The system "makes it really easy for us to gather accurate data on what's being wasted in these kitchens," Winnow cofounder Marc Zornes said, noting that the difficulty of collecting accurate recordings was the "biggest problem" many companies faced in tackling their food waste.

    "And it's important that you make this process easy because kitchens are very busy places," he said.

    Winnow then uses this data to advise chefs on buying the right amount of ingredients and how to prepare them to minimize waste.

    Zornes said that Winnow's accuracy at identifying foods "can vary from site to site."

    "If it knows what it is outright, it identifies the product," Zornes said. "If it doesn't know what it is and it thinks it's a couple of options, it can present that to the user, and they can help the system get better over time."

    A photo of a display screen from a Winnow scale. The screen shows a picture of french fries that have been placed in a trash can, as well as the weight, which is 722g.
    Winnow identifies what the food is and how much was thrown away.

    According to the United Nations Environmental Program, 19% of food available to consumers globally — or more than 1.1 billion tons — was wasted in 2022. Of this, nearly 30% was wasted in the food service sector. Food loss in the supply chain and food waste generate almost five times the total greenhouse gas emissions from the aviation sector, per the UNEP.

    Reducing food waste can boost a company's eco credentials — and cut costs.

    Winnow's clients include hotels, cruise lines, universities, and food service companies that provide professional catering services.

    And it's not just back-of-house waste that they're tracking.

    In the Middle East, Hilton has been using Winnow to look at which items from its breakfast buffets are being wasted the most, Sebastian Nohse, Hilton EMEA's senior director of culinary, told BI.

    Breakfast buffets create "a really big chunk of waste that we in the hotel industry in general didn't really have clear insights about," he said.

    He said Hilton used data from Winnow to experiment with smaller croissants, fruit, and smoked salmon served in smaller portions for its breakfast buffets.

    "If we can remove choice, that will drive impact," Nohse said. "If we can make the choice for the guests by providing a smaller croissant or a smaller doughnut or cutting the fruit in a different way, we can create positive impact without letting the guests make the choice but by creating impact by default."

    It's not just big portion sizes that are contributing to diners leaving food on their plates. Using Winnow, chefs can see which dishes aren't going down well with diners, Paul Fairhead, CEO of Guckenheimer, the food services arm of ISS which provides commercial catering, told BI. They can then, for example, consider whether the flavors of the dish weren't right, or check the pictures recorded by Winnow to see whether it just looked burned that day.

    Winnow declined to share specifics about how much its services cost.

    Hilton said that in a "Green Breakfast" pilot that involved making decisions based on Winnow data as well as introducing sustainable behavior "nudges," it cut food waste at 13 of its hotels in the United Arab Emirates over a four-month period in 2023 by 76% for pre-consumer, or kitchen, waste and by 55% for post-consumer waste.

    The most wasted items included bread and pastry, white eggs, porridge, congee, sambar, shakshuka and baked beans, Hilton said.

    Read the original article on Business Insider
  • A European rival to HIMARS takes shape

    Contractors are developing a European rocket artillery system that could rival Lockheed Martin's HIMARS.
    Contractors are developing a European rocket artillery system that could rival Lockheed Martin's HIMARS.

    • Contractors are developing a rocket artillery system for Europe that could rival HIMARS.
    • The heavier EuroPULS could carry twice as many rockets.
    • HIMARS may be a victim of its popularity, as Lockheed Martin tries to meet surging demand.

    Europe is building a multiple rocket launcher that resembles America's HIMARS, the ground-fired weapon that took on the precision strike missions that Ukraine's battered air force couldn't.

    EuroPULS, a truck-mounted multiple rocket launcher, is a collaboration between Franco-German defense firm KNDS and Israel's Elbit Systems. It's based on Elbit's Precise and Universal Launching System, or PULS, which is fielded by the Israel Defense Forces and several European nations.

    This raises the question of whether EuroPULS will be a competitor to HIMARS, or High Mobility Artillery Rocket System, a decades-old launcher which made its name in the Ukraine war. Comparing EuroPULS to HIMARS reveals platforms that are similar in concept. EuroPULS is mounted on an eight-wheel truck chassis, while HIMARS uses a six-wheel vehicle. A KNDS fact sheet describes EuroPULS as being 34-feet long, and weighing 38 tons, with a maximum road speed of 55 miles per hour.

    That makes it much heavier than HIMARS, which has a combat-loaded weight of 18 tons. But a larger vehicle can carry more rockets. EuroPULS has two pods, which can fire 12 rockets in 60 seconds, depending on the munition. HIMARS has one pod that can fire six GMLRS rockets or one long-range ATACMS missile. The price for a EuroPULS system hasn't been disclosed. But a HIMARS launcher costs almost $5 million apiece, according to 2024 US Army budget figures, while a GMLRS rocket costs more than $100,000 each.

    European armies already field multiple launch rocket systems. Many, such as France's LRU and Germany's MARS 2, are based on the U.S. M270, a tracked mobile rocket launcher, and its Guided Multiple Launch Rocket System rockets.

    One HIMARS launcher can carry six GMLRS rockets or one longer-range ATACMS ballistic missile.
    One HIMARS launcher can carry six GMLRS rockets or one longer-range ATACMS ballistic missile.

    EuroPULS broadens that menu of munitions. EuroPULS can fire a "mix of European legacy and PULS rockets," according to KNDS. Elbit markets a variety of PULS pods. Pod choices include 18 Accular 122-mm rockets with a range of 22 miles, 10 Accular 160-mm rockets with a range of 25 miles, four EXTRA extended-range rockets that can reach out to 93 miles, and two Predator Hawk weapons with a range of 186 miles. Different pods can be mounted on the same vehicle.

    What's also notable is that KNDS and Elbit are touting the ability of EuroPULS to fire all sorts of rockets. KNDS says the system is "adaptable to future missiles." Elbit says EuroPULS "will form the basis for a modularly scalable and flexible artillery system that can be integrated to fire from any mobility platform with pinpoint accuracy and safety. The open EuroPULS concept does not exclude any provider of respective missiles from cooperation enabling EuroPULS users to employ those."

    This suggests that EuroPULS could fire the GMLRS rockets launched by HIMARS. Except that HIMARS manufacturer Lockheed Martin has said that's not an option. "Our MLRS Family of Munitions cannot be integrated into the PULS system," a Lockheed Martin executive told Defense News. "If Germany was to opt for PULS they could not gain access to our missiles."

    Whether EuroPULS could rival HIMARS is complicated. HIMARS does enjoy the immense advantage of its reputation in the Ukraine war, where it proved crucial in helping halt Russia's invasion in 2022. HIMARS rockets destroyed Russian ammunition depots and headquarters, disrupting logistics and command and control, and spurring Russian forces to move vital facilities deeper behind their lines. HIMARS and other GPS-guided weapons such as HIMARS have recently lost some of their luster, as extensive Russian jamming of GPS signals has degraded the accuracy of guidance systems. But for now, multiple rocket launchers are prized items.

    On the other hand, KNDS can use economic incentives as a carrot, or at least for European customers; Lockheed Martin produces its guided HIMARS rockets at plants in the US. The KNDS fact sheet stated that "European production base of launcher and ammunition planned."

    HIMARS is used, or has been ordered, by more than a dozen nations. But Elbit's PULS has already had some success in Europe, with the Netherlands and Denmark purchasing it, and Germany planning to buy five to replace MARS 2 launchers sent to Ukraine, and possibly as many as 89.

    To some extent, HIMARS may be a victim of its popularity, with questions about whether Lockheed Martin can meet surging demand for the launchers and rockets, though the company plans to boost manufacturing capacity. Ukraine for example has ordered new HIMARS launchers and the US Defense Department is replacing the launchers and missiles from its arsenal that it provided to Ukraine.

    "Demand for such military capabilities risks outstripping supply, given limitations on how quickly industrial production capacity can be ramped up and given the need to also backfill or provide systems for Ukraine," James Black, assistant director for defense at the RAND Europe think tank, told Business Insider. "There are also industrial policy and security of supply questions at play, with many nations hoping to assure access to production lines and munitions in times of crisis or war, and with many countries hoping to secure lucrative domestic or export contracts. Collectively, such trends are prompting some militaries to consider possible alternatives to the US HIMARS system, though certainly that remains a major player in this competition for contracts."

    Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on Twitter and LinkedIn.

    Read the original article on Business Insider
  • A day in the life of Robert Rivani, a 34-year-old real-estate mogul with $750M in deals who left LA to invest in Miami

    A man posing in a colorful sport coat.
    Robert Rivani has bought and sold more than $750 million in real-estate deals.

    • Mohawked real-estate investor Robert Rivani moved from California to Florida in 2022.
    • Rivani, who dropped out of high school, went on to transact over $750 million in commercial deals.
    • He described a typical day in his life in Miami, from intermittent fasting to trying to never drive.

    Robert Rivani got a taste for business flipping shoes as a teenager in his hometown of Los Angeles.

    At first, he said, he sold his own Air Jordan and Nike shoes to just afford other shoes, but when business took off, he was making $10,000 a month before he could legally drink. He dropped out of high school in the 11th grade. At 18 years old, Rivani said he was approached to sell his shoe collection for over $150,000 and he took it.

    "The hustle came young because my family wasn't wealthy or rich by any means, and I wanted to be able to afford nicer things in life," Rivani, now 34, told Business Insider. "The only way for me to go about getting that done was by making it on my own."

    He started working in property management, helping run buildings in Los Angeles, and has stayed in real estate ever since. He specializes in buying more dated buildings, from restaurants to offices, and revamping them.

    "I consider myself somewhat of an artist when it comes to designing the properties," he said. "Painting a building a certain way or making it more aesthetically pleasing, from the facade or the landscaping, and then being able to have tenants buy into the vision. It was an amazing thing to turn around these dilapidated properties into something special or unique."

    Rivani left California in 2022 to make his mark in Miami, where he's grown his real-estate portfolio.

    His investment group, Black Lion, has a portfolio of restaurants, office buildings, and mixed-use buildings in South Florida totaling 500,000 square feet of space owned.

    His hospitality real-estate investment firm has completed $750 million in transactions, he said.

    In April, he paid $62.5 million for a building in Miami Beach with stores at its base and offices above. He plans to renovate the interior and exterior and rebrand it at The Rivani. So far, West Elm and Williams Sonoma are retail tenants.

    "To buy my own office building at 34 years old for 60-some-odd million with no investors or no partners was a huge milestone in my career," Rivani said. "It was a dream of mine since I was a kid to have that and then also have the building named with my last name."

    A man sitting on a white sports car in front of a mansion.
    Robert Rivani posing in front of his former Beverly Hills mansion.

    Rivani is also known for his California home — a Beverly Hills castle inspired by "Harry Potter" and "Game of Thrones," including a $50,000 replica of the latter franchise's iron throne — which he sold for $22 million in 2023.

    Rivani now lives in a 9,000-square-foot mansion in Miami. He let Business Insider take a peek inside a typical day, and described how he sets his life up for success.

    5:30 a.m.

    Although Rivani left California for South Florida, he still sticks to his West-Coast rituals and wakes up around 5:30 a.m. or 6 a.m. While working in California, he still had properties to worry about on the East Coast, so he had to be up early to stay efficient. Now it's just a habit.

    "I get anxiety if I sleep until 8 a.m. or 9 a.m.," Rivani told BI. "I feel like I'm missing things. I feel like I'm being disrespectful."

    6 a.m.

    Once awake, Rivani immediately spends 30 minutes to an hour catching up on emails he didn't get to the night before and researching current market trends. He also takes time to meditate and visualize what's ahead in the day.

    Around 7 a.m. every morning he has tea with his wife, Krystal.

    A man and woman posing on a white couch.
    Rivani and his wife, Krystal.

    "I can't stress how important it is to have a healthy, stable marriage when you're trying to do what you do in real estate because you're always so busy 24/7," he said. "I make sure I spend quality time with her in the morning."

    8 a.m.

    Rivani usually hits the gym in the morning for about an hour.

    "I'm a big, big believer in going to the gym at least four to five days a week — or at least staying active, whether that's hitting weights or playing paddle or tennis or physical therapy to keep my body," he said. "As I've gotten older, I've realized that without your health, there's no wealth."

    9 a.m.

    Rivani leaves his home in Miami to his office in Miami Beach — which can take up to 45 minutes depending on traffic. Even that 45-minute drive is valuable time, so his personal assistant or wife drives while Rivani texts and takes calls.

    "I'd rather not text and be on phone calls," he said. "A lot of the good old residential brokers do, and I see them on their phone. I'd rather be safe than sorry."

    10 a.m.

    Rivani is a believer in intermittent fasting and has his first meal, usually a protein shake, at 10 a.m.

    His next meal won't come until dinner.

    "I'm a big fan of intermittent fasting, so that's why I decided to drink tea versus other drinks because I fast for 14 to 16 hours every single day," he said. "I won't eat any food or have any special breakfast routine."

    1 p.m.

    On Mondays, Rivani is usually slammed with a gauntlet of meetings from the legal team, to the construction team, to designer meetings, so he's usually in the office from 9 a.m. to 5 p.m.

    Throughout his meetings he'll meet with his legal team and go over the status of pending deals. Meetings with the construction team checking in to see where they're at with bids on new projects and ensuring current projects are on track. He'll have interior design meetings to go over renderings for projects and help with furniture selection.

    However, he's a little more active every other day of the week. Tuesday through Friday, Rivani meets with tenant companies, potential vendors, and contractors.

    Rivani has the luxury of having restaurants, including Delilah Miami, as tenants and can host multiple meetings in one location instead of bouncing around Miami.

    A man posing in an all-red outfit.
    Rivani posing in an all-red outfit.

    "I'll set back-to-back meetings at one of my restaurant properties where I'll just have people coming there," he said. "So I try to be as efficient with my time. I'm never lapping the city to go to a meeting and going to another meeting — that's just an inefficient use of my time."

    7 p.m.

    About 65% of the time, Rivani eats dinner at home, he said.

    "My wife loves to cook, and if I decide to eat out too much she'll kill me," he said. "On the weekends, that's when we're going out and having dinners. I'll be having dinners much later than that, unfortunately."

    After dinner, Rivani winds down by watching TV for about an hour — he's on his third watch of the History Channel's Viking-age drama "Vikings," he said.

    Rivani said that because of the nature of the job, he's still fielding calls up until bedtime.

    "There's no cutoff," he said. "There are times when I'm talking to people right up until bed. I had a really bad habit where I would leave my phone on at night. But now it's on silent and I don't pick up anyone's call. Once it gets to 9 o'clock-ish, my phone just goes on silent and time's up."

    9 p.m.

    It's time for bed.

    Read the original article on Business Insider
  • Massive drought in Italy threatens to destroy Sicilian tourism

    An aerial view of Lake Pergusa, Sicily's only natural lake, now almost dried up and reduced to a pool of mud.
    Lake Pergusa, Sicily's only natural lake has almost dried up due to an increasingly dramatic drought emergency in Sicily.

    • Sicily, Italy, is in a state of emergency over the worst drought the country has seen in 20 years.
    • Water rations are so strict that hotel and inn owners are turning tourists away.
    • As a tourism-driven economy, the drought is threatening the financial stability of the region.

    An extreme drought in Sicily is the worst the Italian island has seen in 20 years, and it's so bad it's threatening the region's economy.

    The drought in Sicily has caused the local climate to mirror that of Ethiopia, UK outlet Sky News reported, causing a state of emergency, drying up lakes, and prompting officials to implement strict water rations.

    The rations are so strict — with some residents being asked to cut their water use by as much as 45% — it's prompting some hotel and inn owners to turn guests away because they cannot guarantee showers will run or toilets will flush, CNN reported.

    "Rightly, people ask us for reassurances before coming, but we don't know what to say," Giovanni Lopez, who owns the Le Cinque Novelle bed and breakfast (B&B) in central Agrigento, told CNN. "The situation is quickly impacting the entire tourist accommodation sector, which risks serious economic consequences, given that tourism is a sector almost everyone in this part of Sicily relies on."

    The economic impact is impossible to ignore — between empty reservoirs and livestock that have died due to the drought, CNN reported the region has lost more than a billion Euros, or nearly 1.1 billion USD.

    Representatives for Italy's Ministry of Tourism did not immediately respond to a request for comment from Business Insider. However, CNN reported that Italy's tourism minister, Daniela Santanchè, suggested in April that Sicily should attempt to expand its tourism beyond summer to address the region's worsening water crisis.

    In addition to the drought, numerous regions of Italy, including Sicily, are also facing population destabilization, prompting officials to offer incentives to relocate to its rural regions in hopes that new residents will help stabilize the population levels.

    Read the original article on Business Insider
  • Kamala Harris won’t save Democrats if she takes over for Biden, warns historian who correctly predicted 9 of the last 10 elections

    Side-by-side of Kamala Harris and Joe Biden
    Allan Lichtman, historian who predicted the last 9 out of 10 elections, said Kamala Harris could only help Democrats if Joe Biden stepped down from the presidency now.

    • President Joe Biden has recently faced calls to move aside for another Democratic nominee.
    • Prof. Allan Lichtman, who predicted 9 out of 10 elections since 1984, says it could be a bad idea.
    • Biden checks off more of the 13 key questions than Kamala Harris, Lichtman told WSJ.

    A professor and historian who successfully predicted the last 9 out of 10 elections since 1984 believes President Joe Biden is still the safest bet for Democrats.

    Since Biden's poor debate performance against Donald Trump, the president has fielded calls from voters, donors, and congressional colleagues to drop out of the race for a new nominee.

    Some names floated as potential replacements include Michigan Gov. Gretchen Whitmer and California Gov. Gavin Newsom. However, as Business Insider has previously reported, Vice President Kamala Harris may be the most obvious and viable option for Democrats given the immediate war chest she would get from Biden's campaign and the boost from intra-party support.

    But Allan Lichtman, a presidential historian at American University, told The Wall Street Journal that even Harris can't save the Democrats based on his famous model, "Keys to the White House." This model entails 13 true-and-false questions to determine the performance of the party holding the White House. If six or more of the 13 keys are false, then the holding party, in this case, the Democrats, will lose.

    Lichtman told the Journal that Biden has provided Democrats with seven keys so far: the incumbency, no significant primary contest, no recession during the election, a strong long-term economy based on real per capita economic growth compared to the average of the previous two terms, major policy changes, no major scandal directly pertaining to the president, and an uncharismatic challenger.

    If Harris were to become the new nominee, Democrats risk losing two of those keys Biden secured: the incumbency and the primary contest.

    "Biden steps aside, they lose obviously the incumbency," Lichtman told the Journal. "And it's not at all clear that there wouldn't be a big party fight."

    Lichtman said the only highly unlikely scenario in which Harris could maintain the same keys Biden has is if Biden steps down from the presidency now, giving the White House to the VP just a few months before the election.

    He said Harris would obtain the incumbency key, and Biden could then release his delegates to his VP to secure the contest key.

    A spokesperson for the Biden campaign did not immediately respond to a request for comment.

    Lichtman has predicted election outcomes since Ronald Reagan secured his second term against Democratic challenger Walter Mondale in 1984. The only election he missed was in 2000, when he predicted Al Gore would secure the presidency, although the historian argued that he predicted correctly that Gore would win the popular vote.

    In 2021, Lichtman told The Miami Herald that he believed Trump would not make a successful political comeback in 2024, citing some of the former president's flailing businesses and financial troubles at the time as well as the fact that Trump is not the incumbent.

    Read the original article on Business Insider
  • Biden’s campaign touts $38 million in donations after dubious debate performance

    Joe Biden
    President Joe Biden's campaign spokesperson Michael Tyler touted big fundraising numbers despite the president's stumbling debate performance.

    • Joe Biden's campaign says it raised $38 million since the debate against Trump over a week ago.
    • In the day following the debate, Biden's team raised $27 million to Donald Trump's $8 million.
    • Biden is recovering from a painful debate where he seemed lost next to a rambling Trump.

    President Joe Biden's reelection campaign knows it took a hit in the debate against former President Donald Trump.

    But Biden is coming back swinging, one campaign spokesperson says, touting $38 million in donations since last Thursday's debate.

    "People going to joebiden.com and chipping in because they understand that when you get knocked down, you get back up and you keep fighting, and that's exactly what the President has done," Michael Tyler, the communications director for Biden's campaign, told the hosts of MSNBC's "The Weekend" on Saturday.

    In the day after the July 27 debate, Biden raised $27 million while Trump raised $8 million, Business Insider previously reported. While Trump appeared to win the debate, both candidates made gaffes and delivered incoherent sentences.

    Tyler added that the flood of donations after the debate was "one of our most successful stretches of the campaign so far" and that Biden maintains he is "the best person to take on Donald Trump."

    "Nobody is going to fight harder to defeat Donald Trump," Tyler said of Biden. "He is the one person who has demonstrated an ability to actually defeat Donald Trump, given everybody else who was tried on both sides of the aisle."

    The Biden campaign intends to spend $50 million on paid advertising in July while knocking on 3 million doors, Tyler said.

    Since Biden's first presidential debate against Trump, the president's campaign has been rocked with growing calls from Democratic colleagues and top donors to either convince the American public that Biden is fit for a second term or step aside for a new candidate.

    Sen. Mark Warner of Virginia has been rallying his colleagues in Congress to ask Biden to drop out of the race, The Washington Post reported.

    Netflix cofounder Reed Hastings was one of the first megadonors of the Democratic Party to call on Biden to end his campaign.

    Biden, however, appeared to dismiss the gravity of his campaign's woes in a recent interview with ABC News' George Stephanopoulos.

    The president chalked up his debate performance to a "bad night," dismissed poll numbers that continue to show him trailing behind Trump, and discredited any rumblings inside the Democratic Party about a new nominee.

    Biden's campaign has repeatedly touted donation numbers. According to a Politico report, the campaign brought in $127 million in June when combining funds from the Democratic National Committee, trouncing the $112 million the Trump campaign raised the same month.

    Spokespeople for the Biden and Trump campaigns did not immediately respond to a request for comment.

    Read the original article on Business Insider
  • 10 ASX shares to buy in FY25

    A group of young ASX investors sitting around a laptop with an older lady standing behind them explaining how investing works.

    Are you looking for some new additions to your portfolio in FY 2025? If you are, then read on.

    That’s because listed below are 10 ASX shares that have been named as buys for the new financial year. They are as follows:

    Boss Energy Ltd (ASX: BOE)

    If you are looking for exposure to the booming uranium market, then Boss Energy could be the ASX share to do it with. Last month, Bell Potter put a buy rating and lofty $6.35 price target on its shares.

    Capricorn Metals Ltd (ASX: CMM)

    Bell Potter also thinks that this gold miner could be a great option for investors. This is because it “is a sector leading gold producer with a strong balance sheet, a management team with an excellent track record of delivery and clear organic growth options.” The broker has a buy rating and $6.53 price target on its shares.

    CSL Ltd (ASX: CSL)

    One of Australia’s highest quality companies is arguably biotherapeutics giant CSL. After a reasonably underwhelming period, Macquarie thinks that the company is about to return to form. So much so, it is forecasting mid-teen earnings growth for the next five years. Macquarie has an outperform rating and $330.00 price target on the ASX share.

    Life360 Inc (ASX: 360)

    Looking for some tech sector exposure? Morgan Stanley thinks this location technology company’s shares could be in the buy zone. The broker has an overweight rating and $17.50 price target on them.

    Lovisa Holdings Ltd (ASX: LOV)

    This fashion jewellery retailer could be an ASX share to buy in FY 2025. A number of brokers are bullish on Lovisa due to its global expansion. For example, analysts at Bell Potter have a buy rating and $36.00 price target on its shares.

    Lynas Rare Earths Ltd (ASX: LYC)

    They say it’s best to buy ASX mining stocks at the bottom of the cycle. So, with rare earths prices at depressed levels, a number of analysts think now could be the time to pounce on this ASX share. One of those is Ord Minnett, which put a buy rating and $8.00 price target on its shares at the end of last month.

    Qantas Airways Limited (ASX: QAN)

    Goldman Sachs thinks this airline operator’s shares are so undervalued that it has them on its conviction list. The broker currently has a buy rating and $8.05 price target on the Flying Kangaroo’s shares.

    Telstra Group Ltd (ASX: TLS)

    UBS thinks that this telco giant could be a top ASX share to buy now. At the end of last month, the broker put a buy rating and $4.40 price target on its shares. It also expects fully franked dividend yields of 4.9%+ this year and next.

    Woolworths Group Ltd (ASX: WOW)

    Another ASX share that Goldman Sachs is very bullish on is Woolworths. It has the supermarket giant on its conviction list with a buy rating and $40.20 price target.

    Xero Ltd (ASX: XRO)

    Finally, another member of Goldman’s coveted conviction list is cloud accounting platform provider Xero. The broker has a buy rating and $180.00 price target on its shares. Its analysts “see Xero as very well-placed to take advantage of the digitisation of SMBs globally.”

    The post 10 ASX shares to buy in FY25 appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Life360 right now?

    Before you buy Life360 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 Life360 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 CSL, Life360, Lovisa, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, Life360, Lovisa, Macquarie Group, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group, Telstra Group, and Xero. The Motley Fool Australia has recommended CSL and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Here’s how the ASX 200 market sectors stacked up last week

    A woman stacks smooth round stones into a pile by a lake.

    ASX energy stocks led the ASX 200 market sectors last week with an impressive 4.07% gain over the five trading days. ASX materials shares also did well, with the sector lifting 3.3%.

    Meantime, the S&P/ASX 200 Index (ASX: XJO) booked a 1.3% lift to finish the week at 7,822.3 points. However, only four of the 11 market sectors finished the week in the green.

    Let’s review.

    Energy shares led the ASX sectors last week

    Among the major ASX 200 energy stocks, Santos Ltd (ASX: STO) outperformed with a 4.99% gain over the week to finish at $7.99 per share.

    The stock was lifted by rumours that Saudi Aramco and Abu Dhabi National Oil Co were considering making takeover offers. Saudi Aramco debunked this on Friday.

    Woodside Energy Group Ltd (ASX: WDS) shares gained 3.76% to finish at $29.26 on Friday. There was no news from Woodside last week but the stock has plenty of buy ratings from brokers right now.

    Beach Energy Ltd (ASX: BPT) shares lifted 2.56% to $1.52 apiece.

    These gains follow a lift in oil commodity prices last week. At the time of writing, Brent crude oil is up 2.6% for the week and trading at US$83.16 per barrel. WTI futures are up 2.7% at US$83.75 per barrel.

    Trading Economics analysts say the uplift is due to falling crude oil inventories in the United States and signs of strong seasonal demand during the US summer.

    Ampol Ltd (ASX: ALD) shares lifted 2.41% to $33.13 apiece. Viva Energy Group Ltd (ASX: VEA) lost 0.32% to close at $3.16 on Friday.

    A 2.96% lift in Newcastle coal futures to US$136.50 per tonne led to some impressive gains among the ASX 200 coal shares last week.

    Whitehaven Coal Ltd (ASX: WHC) flew 13.26% higher to close at $8.97 on Friday.

    Yancoal Australia Ltd (ASX: YAL) lifted 9.24% to $7.33 per share. New Hope Corporation Ltd (ASX: NHC) shares lifted 1.01% to $5.02 apiece.

    ASX 200 uranium stocks also had a good week after the commodity price lifted 2.51% to US$85.65 per pound.

    Deep Yellow Limited (ASX: DYL) shares spiked 9.77% to $1.41 apiece by the close of trading on Friday.

    The company announced the appointment of a coordinator to organise project financing for its flagship Tumas Project in Namibia last week.

    Paladin Energy Ltd (ASX: PDN) shares rose 7.43% to $13.01.

    Boss Energy Ltd (ASX: BOE) shares fell 2.18% to $3.82. Last week, the company announced it was ready to send its first shipment from its Honeymoon mine in South Australia to European nuclear utilities.

    ASX 200 market sector snapshot

    Here’s how the 11 market sectors stacked up last week, according to CommSec data.

    Over the five trading days:

    S&P/ASX 200 market sector Change last week
    Energy (ASX: XEJ) 4.07%
    Materials (ASX: XMJ) 3.3%
    A-REIT (ASX: XPJ) 1.45%
    Consumer Discretionary (ASX: XDJ) 0.22%
    Healthcare (ASX: XHJ) (0.06%)
    Consumer Staples (ASX: XSJ) (0.07%)
    Communication (ASX: XTJ) (0.4%)
    Financials (ASX: XFJ) (0.53%)
    Industrials (ASX: XNJ) (0.59%)
    Information Technology (ASX: XIJ) (1.08%)
    Utilities (ASX: XUJ) (1.19%)

    The post Here’s how the ASX 200 market sectors stacked up last week appeared first on The Motley Fool Australia.

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

    Before you buy Boss Resources Limited shares, consider this:

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

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

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

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bronwyn Allen has positions in Woodside Energy Group. 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.

  • Does the VanEck Wide Moat ETF really have an 8% dividend yield?

    Woman with $50 notes in her hand thinking, symbolising dividends.

    Late last month, we covered the latest dividend news from the VanEck Morningstar Wide Moat ETF (ASX: MOAT). MOAT’s investors would have been delighted with the announcement that this exchange-traded fund (ETF) intends to pay a dividend distribution of $9.73 per unit later this month.

    Now the VanEck Wide Moat ETF only pays out one dividend distribution every year, unlike the biannual schedule that is the norm on the ASX. But even so, this latest dividend is a monster.

    At market close on Friday, the MOAT unit price is sitting at $112.04, down 0.21%. At this pricing, this upcoming dividend distribution would result in a whopping dividend yield of 8.68%.

    Now, this isn’t really a fair metric to use since the MOAT ETF already traded ex-dividend for this upcoming distribution on 1 July. But even if we use the closing share price of $124.47 (which is where MOAT units closed at on 30 June), we get a dividend yield of almost 8%. 7.82% to be precise.

    This seems rather unusual at first glance. After all, the VanEck Wide Moat ETF isn’t some dividend-focused fund holding income heavyweight shares like Westpac Banking Corp (ASX: WBC) or Telstra Group Ltd (ASX: TLS).

    It is a US-centric ETF that specialises in holding American companies with wide economic moats.

    Sure, its holdings include a few dividend payers. You’ll currently find the likes of Pfizer, Campbell Soup, Altria and Starbucks in MOAT’s portfolio. But most of these shares don’t pay substantial dividends. At least by ASX standards. In fact, US stocks, in general, are famous for their low dividend income potential compared to other stock markets around the world.

    So how did the MOAT ETF just pay out a near-8% dividend yield?

    How does the Wide Moat ETF have such a massive ASX dividend?

    Well, passing on the dividends of its underlying holdings is only one way that an ETF can fund a dividend distribution payment. The other way is by selling off shares in its portfolio and paying out the proceeds to investors.

    The Wide Moat ETF is structured as an equal-weight ETF of sorts. This means that is it designed in such a way that all of MOAT’s holdings occupy the same weighting in the ETF. This is in contrast to most index funds. These funds usually give the larger shares in the portfolio a higher weighting.

    Every time VanEck rebalances MOAT’s portfolio (typically every six months), it must sell off any shares that have appreciated since the last time the ETF was rebalanced, and thus grown above their allocated weighting in the fund’s portfolio.

    Let’s assume that MOAT’s portfolio has had a successful six months. Which it has. In this scenario, we might find that a lot of portfolio pruning needs to be done to return its successful holdings to their required weighting.

    Over the past six months, it appears that the VanEck Wide Moat ETF has experienced a significant increase in cash due to rebalancing. As a result, the ETF was able to use this surplus to fund a substantial dividend distribution.

    But MOAT’s ASX investors shouldn’t get too comfortable with receiving such a large dividend paycheque. Sure, the VanEck Wide Moat ETF can make it rain when times are good. But if its holdings don’t perform too well going forward, those monstrous dividends will quickly dry up.

    The post Does the VanEck Wide Moat ETF really have an 8% dividend yield? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf right now?

    Before you buy Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf 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 Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf wasn’t one of them.

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

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

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has positions in Altria Group, Starbucks, Telstra Group, and VanEck Morningstar Wide Moat ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pfizer and Starbucks. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Starbucks and VanEck Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Justin Bieber performed at an Ambani pre-wedding party for family and friends. Here’s a look at the exclusive guest list.

    Anant Ambani and Radhika Merchant on July 5 at their sangeet.
    Anant Ambani and Radhika Merchant on July 5 at their sangeet.

    • Anant Ambani and Radhika Merchant held their sangeet, a pre-wedding celebration, on Friday.
    • The event featured a star-studded guest list and a performance by Justin Bieber.
    • The couple's wedding ceremony is from July 12 to July 14 in Mumbai, India.

    The wedding of the year has almost arrived.

    Radhika Merchant and Anant Ambani, the youngest son of Asia's richest man, will marry on July 12 at the Jio World Convention Centre in Mumbai. Guests will be treated to a weekend of festivities, with activities on July 13 and the reception on July 14.

    The couple's upcoming nuptials hit social media in March when videos and photos surfaced of lavish pre-wedding festivities hosted by the Ambani family. The family's patriarch, Mukesh Ambani, chairman of Reliance Industries, has a net worth of $123.4 billion. His wife, Nita Ambani, is a philanthropist who serves as chairperson of the Reliance Foundation.

    The pre-wedding celebrations have been extravagant, like hiring Rihanna for a private performance in March, and the most recent event — a sangeet ceremony on Friday in Mumbai — was no exception.

    Anant and Radhika hosted the traditional musical celebration that unites the couple's families. The pair arrived in ensembles designed by Abu Jani and Sandeep Khosla.

    Anant Ambani and Radhika Merchant on July 5 at their sangeet.
    Anant Ambani and Radhika Merchant will be married on July 12.

    As expected, the Ambanis went above and beyond with the performances and booked Justin Bieber. Paparazzi captured photos of Bieber arriving in Mumbai on Friday, and the singer shared several photos from the event on his Instagram account on Saturday.

    He posed with Merchant and Anant in several photos.

    Videos showing Bieber singing "Sorry" and other songs at the party have gained traction on Twitter and TikTok, including the official French outlet Le Parisien account.

    Representatives for Bieber did not respond to a request for comment from Business Insider.

    The entire event was a star-studded affair.

    Celebrities and athletes showed off their style

    Several celebrities posed for photos at the sangeet, including actors Kiara Advani and Sidharth Malhotra.

    Bollywood actors Kiara Advani (L) and Sidharth Malhotra at Anant Ambani and Radhika on July 5, 2024.
    Actors Kiara Advani and Sidharth Malhotra at Anant Ambani and Radhika's sangeet.

    Actor Varun Dhawan also attended the event with his wife, Natasha Dalal, while Vidya Balan attended with her husband, Siddharth Roy Kapur.

    Bollywood actress Vidya Balan (R) poses for a photo with her husband producer Siddharth Roy Kapur on July 5 at the Ambani's sangeet.
    Actor Vidya Balan poses for a photo with her husband, producer Siddharth Roy Kapur.

    Other actors included Jaaved Jaaferi, Janhvi Kapoor, Sara Ali Khan, and Khushi Kapoor.

    Actress Janhvi Kapoor on July 5 at Anant Ambani and Radhika Merchant's sangeet ceremony.
    Actress Janhvi Kapoor on July 5 at Anant Ambani and Radhika Merchant's sangeet ceremony.

    Several athletes posed for photos, too.

    Cricketer Mahendra Singh Dhoni and his wife, Sakshi Dhoni, attended the event together.

    Indian cricketers Ishan Kishan (L) and Hardik Pandya (R) pose for a photograph during the Sangeet ceremony for Anant Ambani and Radhika Merchant.
    Cricketers Ishan Kishan and Hardik Pandya on July 5 in Mumbai.

    Photos also captured Shreyas Iyer, Ishan Kishan, and Hardik Pandya.

    The Ambanis are accustomed to hosting high-profile individuals — pre-wedding festivities in March brought out Facebook founder Mark Zuckerberg and Microsoft founder Bill Gates.

    Read the original article on Business Insider