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☆ Pacific islands, in spotlight, to push climate change in South Korea summit
▼ + stars: | 2023-05-27 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

read moreAustralia's Defence Minister Richard Marles will attend the first Korea-Pacific Islands Summit, his office said on Saturday, adding it would show cooperation between the 18 members of the Pacific Island Forum and South Korea for a secure region. The United States Secretary of State Antony Blinken signed a defence agreement with PNG after a Pacific summit there on the same day. The back-to-back meetings with major economies were a "massive boost for recognition of our priorities", said Pacific Islands Forum Secretary General Henry Puna in a statement. The island states, which are seeking greater funding for climate change mitigation, have taken a collective approach to dealing with major powers. In Seoul, climate change, investment and fisheries are expected to feature in talks.

☆ A.I. excitement leads to a winning week for Nvidia and other tech stocks
▼ + stars: | 2023-05-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Artificial intelligence plays led the stock market higher this week, as excitement over Nvidia's blowout earnings beat lifted other tech names. As of Friday morning, the AI darling is up nearly 22% week to date and still has 11% upside to the average analyst price target, per FactSet. However, it has about 3.5% downside to the average analyst price target. Meanwhile, Advanced Micro Devices gained nearly 18% week to date but has 15% downside to the average analyst price target. Lastly, Arista Networks has added nearly 15% so far this week and has another 4% upside to the average analyst price target.

☆ Here's one stock to play the 'almost perfect marriage' between A.I. and crypto, according to Needham
▼ + stars: | 2023-05-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

While the possibilities are still coming into focus, Needham sees at least one near-term opportunity for investors, and a stock to play it. In the near term, the infrastructure level is the place for investors, and Applied Digital offers an interesting opportunity, according to the firm. "We have been excited about Applied Digital, which is a bitcoin mining hosting provider that recently entered into hosting high performance compute (HPC) and AI," Needham analyst John Todaro told CNBC by email. "Given the similar power density requirements between bitcoin mining and hosting AI applications, we believe there is an attractive opportunity for Applied Digital and potentially other mining hosting providers to enter this space." It's still early days for both crypto and AI individually, although the AI hype may have better longevity from having been around for longer.

☆ These are the next stocks to get an A.I. boost like Nvidia, according to Wall Street
▼ + stars: | 2023-05-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

But while the chipmaker remains the undisputed leader in the AI arms race, it's far from the only company benefiting from the frenzy overtaking Wall Street. NVDA 1D mountain Nvidia shares pop While Nvidia's results seem to reiterate its clear chip dominance, other names are gaining buzz on Wall Street and could see big gains as AI booms. Advanced Micro Devices Similar to Nvidia, Wall Street forecasts opportunities for Advanced Micro Devices in the near future. Needham also believes Taiwan Semiconductor's capabilities offer a "shortcut" for companies big and small looking to get into the competitive AI chip market. Its new delivery systems to help reduce power delivery network losses should also benefit shares in the long run.

Persons: Dan Loeb's, Raymond James, Brad Lin, Lin, Needham, Vivek Arya, CNBC's Michael Bloom Organizations: Nvidia, Wall, Devices, AMD, Taiwan Semiconductor Manufacturing Taiwan Semiconductor Manufacturing, Bank of America, Systems, Marvell Technology, Broadcom, Apple Locations: Taiwan

☆ Modi, Blinken to meet Pacific Island leaders in Papua New Guinea
▼ + stars: | 2023-05-21 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

May 22 (Reuters) - India's Prime Minister Narendra Modi and United States Secretary of State Antony Blinken have arrived in Papua New Guinea ahead of meetings with Pacific Island leaders to discuss trade, climate change and regional security on Monday. Modi, who was met at the airport on Sunday evening by PNG Prime Minister James Marape, will hold a bilateral meeting on Monday morning, before hosting a regional summit with 14 Pacific Island leaders. Blinken is expected to sign a Defence Cooperation Agreement between the United States and PNG, and also hold a Pacific Island leaders meeting in the afternoon. Solomon Islands Prime Minister Manasseh Sogavare, Samoa Prime Minister Fiame Naomi Mataafa, Vanuatu Prime Minister Alatoi Ishmael Kalsakau, and New Caledonia President Louis Mapou were among the Pacific island leaders to arrive on Sunday. New Zealand Prime Minister Chris Hipkins and Australia's Pacific Minister Pat Conroy will also join the meetings.

☆ Pacific meetings, defence pact, to go ahead in Papua without Biden
▼ + stars: | 2023-05-18 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

Biden had been expected to meet with 18 leaders from the region's main bloc, the Pacific Islands Forum, and sign a defence cooperation agreement with PNG on Monday. PNG Prime Minister James Marape is expected to announce details of the defence pact with the United States on Thursday, his office told Reuters. Fiji said Pacific leaders would hold discussions with Modi on regional cooperation. The chairman of the Pacific Islands Forum, Cook Islands Prime Minister Mark Brown, said the regional meeting had originally been organised between the Pacific countries and India, and his plans to travel to PNG were unchanged. Biden will arrange another summit of Pacific island leaders this year after the disappointment caused by his cancellation of the PNG visit, his national security adviser Jake Sullivan said on Wednesday.

☆ Biden's Papua New Guinea no-show deals blow to US credibility in Pacific - analysts
▼ + stars: | 2023-05-17 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

"For Papua New Guinea this was a very big deal and they will be disappointed," said Mihai Sora, a Pacific islands analyst with the Lowy Institute think tank in Sydney. The cancellation was also a "blow to U.S. credibility in the region as a consistent partner", he added. "Up until now Pacific islands leaders have been giving the U.S. the benefit of the doubt over its ability to re-engage." Biden had also been scheduled to meet 18 Pacific island leaders in the three-hour visit to the PNG capital Port Moresby. The Pacific islands span 40 million square km of ocean, where vital sea lanes and submarine cables link the United States to its allies Australia and Japan.

☆ Exclusive: Biden to sign defence pact in Papua New Guinea, with eyes on China
▼ + stars: | 2023-05-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

Washington is seeking to deter Pacific island nations, which span 40 million kilometres of ocean, from security ties with China, a rising concern amid tensions over Taiwan. Biden will visit PNG capital Port Moresby on May 22 on his way to a summit of the Quad countries - the United States, Japan, India and Australia - in Sydney, the White House has confirmed. There he will meet 18 Pacific island leaders. Biden's meeting in person with Pacific leaders is seen in the region as a major step in restoring trust. U.S. Secretary of State Antony Blinken was told by Pacific leaders in Fiji last year: "We have felt at times, to borrow an American term, like a flyover country.

☆ US shares of EV makers skid after Lucid, Fisker target cuts
▼ + stars: | 2023-05-09 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

REUTERS/Steve... Read moreNEW YORK, May 9 (Reuters) - Cuts to production forecasts by Lucid Group Inc (LCID.O) and Fisker Inc (FSR.N) slammed shares of electric-vehicle makers in early trading on Tuesday, with Lucid down about 9%. Fisker shares were last down 5.3% after the company reported quarterly results earlier on Tuesday and cut its production forecast for 2023. That added to the bearish news for the industry from late Monday, when Lucid reported quarterly revenue that missed analysts' expectations and trimmed its 2023 production forecast. Its shares were down 9.1% in strong early trading volume and on track for their biggest daily percentage drop since Feb. 23. The analysts also reiterated their "buy" rating on Lucid, but lowered their price target to $10.

☆ Australian journalist nears 1,000 days in detention in China on state secrets charge
▼ + stars: | 2023-05-09 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

read moreHer arrest by state security in September 2020 came as China widened blocks on Australian exports amid a diplomatic dispute, but the barriers are falling now, with a visit by Australian Trade Minister Don Farrell planned. China has previously said Australia should respect China's judicial sovereignty, adding that her legal rights were being upheld. Foreign Minister Penny Wong said Cheng had shown "great resilience and courage", and the Australian government was concerned by the delay. Born in China, Cheng moved with her scientist parents to Australia as a 10-year-old. "No light has been shed on the allegations" against Cheng after three years, said former trade minister Simon Birmingham, whom she interviewed on his visits to China.

☆ Here are Friday's biggest analyst calls: Apple, Coinbase, Western Alliance, Playboy, SolarEdge & more
▼ + stars: | 2023-05-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple is "delivering under pressure" after its earnings report on Thursday. Guggenheim upgrades Portillo's to buy from neutral Guggenheim said it sees multiple expansion for the restaurant chain. Goldman Sachs downgrades Atlassian to neutral from buy Goldman said the company's "cloud transition [is] likely taking longer than expected." UBS upgrades Shopify to neutral from sell UBS said in its upgrade of Shopify that it sees revenue upside. Jefferies initiates Playboy Group as buy Jefferies said it sees "significant upside" for the adult themed global media and lifestyle company.

☆ Who’s the next Chegg? A.I. could threaten the main revenue sources for these companies
▼ + stars: | 2023-05-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. CHGG 1D mountain Chegg shares plummet on AI risks While Chegg may be the first shoe to drop, it's certainly not the last company set to showcase some of the risks posed by AI. Elsewhere, Deepwater Asset Management's Gene Munster sees potential risks ahead to some consulting companies known to outsource work for other businesses. Companies operating off of seat-based models, such as human resources companies, may face headwinds from declining headcount, but could benefit long term from optimizing AI, he added. To be sure, even the largest companies dominating the space and poised to prosper from AI face risks ahead.

☆ Australian police searched pilot's home for China fighter jet records
▼ + stars: | 2023-05-02 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, May 2 (Reuters) - Australian police searched the home of a British former test pilot for documents related to China's J-16 strike fighter, Australia's intelligence partners, and China's biggest aviation company, a court judgment shows. The search in November was part of an investigation into Western military pilots training China's military at a time of growing tension between China and the United States and its allies. Federal police searched Hartley's home on suspicion he had broken the law by providing military style training directed or funded by China between 2018 and 2022, the Federal Court heard. The judgement shows police had searched for documents and digital records including emails and encrypted messages relating to TFASA, the PLA, four models of PLA fighter jets and fighter training aircraft including the J-16 strike fighter and J-11 fighter, AVIC and two individuals whose names were redacted. It states conduct capable of constituting an offence, and it does so with a reasonable degree of precision," she wrote.

☆ Fiji's former attorney general taken into custody - police
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 1 (Reuters) - Fiji's former attorney general, Aiyaz Sayed-Khaiyum, who is also general secretary of the Pacific island nation's main opposition party Fiji First, was taken into custody on Monday after being charged with abuse of office, police said. The charge relates to a complaint lodged by an election official in February, Fiji police said in a statement. "Mr Sayed-Khaiyum remains in custody and will be produced in the Suva Magistrates Court tomorrow," the statement said. The criminal charge was approved by the Office of the Director of Public Prosecutions, it added. The Office of the Director of Public Prosecutions did not immediately respond to a Reuters request for comment outside of office hours.

☆ Biden, India's Modi to meet Pacific island leaders, Papua New Guinea PM says
▼ + stars: | 2023-04-30 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

[1/3] U.S. President Joe Biden, left, and India Prime Minister Narendra Modi talks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. Dita Alangkara/Pool via REUTERSSYDNEY, April 30 (Reuters) - U.S. President Joe Biden and his Indian counterpart, Narendra Modi, will join Pacific Islands leaders next month for a "historic" future-oriented meeting, Papua New Guinea Prime Minister James Marape said on Sunday. "This is a historic first and at the same time a 'going forward' futuristic meeting of global superpowers, in the biggest country in the Pacific," Marape said in a statement. Papua New Guinea is being courted by China and by the U.S. and its allies, as Marape seeks to boost foreign investment. Papua New Guinea is negotiating security pacts with the United States and Australia, and Marape has been invited to visit Beijing this year.

☆ AUKUS nuclear submarine cost includes 50% fund for unexpected overruns
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, April 28 (Reuters) - Australia's defence minister said on Friday the government was being "upfront and transparent" about the cost of its AUKUS nuclear submarine programme, after an analysis showed the forecast A$368 billion cost included a 50% contingency fund. The Greens party, which commissioned the analysis by the Parliamentary Budget Office, said it showed the "huge" uncertainty over the project. In a second phase, Australia and Britain will build an AUKUS class submarine, with Australia receiving its first submarine in the early 2040s. read moreAustralia's Parliamentary Budget Office has reported the cost estimate over three decades includes a contingency of A$123 billion. The report showed most of the cost of the submarine programme will be incurred in the two decades from 2033.

☆ Biden to make historic visit to Papua New Guinea next month - PNG officials
▼ + stars: | 2023-04-27 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, April 27 (Reuters) - U.S. President Joe Biden will briefly visit Papua New Guinea (PNG) on May 22, officials from the Pacific island nation said on Thursday, as Washington seeks to counter growing Chinese influence in the strategically important region. A Pacific islands source told Reuters that Biden was also expected to meet with more than a dozen Pacific islands leaders during his May visit. Modi arrives in PNG on May 21 for a two-day visit en-route to Australia, the island nation's government has previously announced. The U.S. embassy in Canberra referred questions to the White House. The White House National Security Council did not immediately respond to a Reuters request for comment.

☆ Australia aims to start making guided missiles within two years
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, April 26 (Reuters) - Australia said on Wednesday it would start domestic manufacture of guided missiles by 2025, two years sooner than expected, in a wide-ranging shakeup of defence arrangements to focus on long-range strike capability. read moreThe timetable for domestic manufacture of guided weapons, originally set for 2027, will be hastened to within two years by allocating A$2.5 billion to the project, Defence Minister Richard Marles said in media interviews. The government was already in talks with missile manufacturers Raytheon (RTX.N) and Lockheed (LMT.N) about establishing production in Australia, Marles added. Discussions were also being held with Kongsberg (KOG.OL), the Norwegian manufacturer of the naval strike missile Australia had already agreed to purchase, he said. Pat Conroy, the minister for defence industry, said the review recommended acquiring Kongsberg's joint strike missile which would "allow us to look at manufacturing the Strike Missile family of missiles in Australia".

☆ Here are Wednesday's biggest analyst calls: Tesla, Coinbase, Apple, Microsoft, Alphabet, Roku & more
▼ + stars: | 2023-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Needham upgrades TransUnion to buy from hold Needham upgraded the stock after its earnings report Tuesday. Deutsche Bank reiterates Apple as buy Deutsche said it's standing by its buy rating heading into earnings next week. Bank of America downgrades Danaher to neutral from buy Bank of America downgraded the commercial products company after a "disappointing" earnings report. Bank of America reiterates General Motors as buy Bank of America said it's standing by its buy rating after the company's earnings on Tuesday. " Bank of America reiterates Roku as buy Bank of America said it's bullish heading into Roku earnings after the bell on Wednesday.

☆ Australia to prioritise long-range strike capability in defence shakeup
▼ + stars: | 2023-04-24 | by ( Kirsty Needham | ) www.reuters.com time to read: +5 min

[1/6] Australian Prime Minister Anthony Albanese, Australian Deputy Prime Minister Richard Marles, Australian Defence Industry Minister Pat Conroy and Chief of the Australian Defence Force (ADF) Angus Campbell speak to the media at a news conference after the release of the Defence Strategic Review at Parliament House in Canberra, Australia April 24, 2023. AAP/Lukas Coch/via REUTERSCANBERRA, April 24 (Reuters) - Australia's government will prioritise long-range precision strike, domestic production of guided weapons, and diplomacy - key points of a review released Monday recommending the country's biggest defence shakeup since World War Two. Australia must also strengthen defence cooperation with Japan, India, Pacific and South East Asian nations, the review said. The review found Australia's defence force was "not fit for purpose", he said. The navy needs more smaller vessels with long-range strike weapons, with details decided after an independent analysis this year, the report said.

☆ Here are the top 10 stock analysts of the past decade, according to TipRanks
▼ + stars: | 2023-04-23 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks' algorithms calculated the average return and statistical significance of each rating, as well as the analysts' overall success rate. To come up with this list, TipRanks analyzed every stock recommendation made by analysts in the past decade. TipRanks is celebrating a decade of simplifying investment decisions through its data-driven research tools: Here is a list of the 10 best analysts on Wall Street. Bolton's best rating in the past decade has been on ACM Research (NASDAQ:ACMR), a semiconductor equipment manufacturing company. These analysts generated significant returns from their recommendations in the past decade and have notable success rates.

☆ Analysis: Australia prepares more assertive military stance to deter conflict
▼ + stars: | 2023-04-21 | by ( Kirsty Needham | ) www.reuters.com time to read: +5 min

The review examined how Australia could better integrate with its AUKUS partners the United States and Britain, as well as other allies, the government has said. Changing that equation is crucial to the future of Australia's military, they said. Campbell said Australia's defence forces would enhance how they could operate alongside partners, but has ruled out foreign bases on its soil and will always retain control of its forces. Even as it beefs up its military, Australia says China will remain an important trade partner. One of the world's top LNG exporters, Australia's top gas customers last year were Japan, China and South Korea.

SYDNEY, April 17 (Reuters) - The lawyer for an Australian charged with foreign interference said his client had become "very worried" about two alleged foreign intelligence agents while living in Shanghai and returned to Australia after a decade-long career in China. Csergo is alleged to have accepted cash for writing reports, which Australian federal police say contained information about Australian defence, economic and national security arrangements. The Australian Security Intelligence Organisation had searched Csergo's laptop and WeChat accounts upon his return from Shanghai, the court was told. "The Chinese did not want it to be known they were making these inquiries and receiving these reports," Barko commented. Csergo, 55, appeared in court via video link from Parklea Prison where he is being held as a high security prisoner.

SYDNEY, April 15 (Reuters) - The second person ever charged with violating Australia's foreign interference laws appeared in a local court on Saturday following his arrest a day earlier. Court documents reviewed by Reuters on Saturday listed a charge of reckless foreign interference against Csergo, with the offence occurring between February 2021 and April 2023 in the Australian state of New South Wales and Shanghai. Csergo had recently returned from China and was arrested on Friday at a residence in the Sydney beachside suburb of Bondi, according to neighbours. The court document also named "Ken" and "Evelyn" as engaging with Csergo. The AFP will allege "Ken" and "Evelyn" work for a foreign intelligence service and are undertaking intelligence collection activities, the statement said.

SYDNEY, April 14 (Reuters) - An Australian man who had recently returned from China was arrested in Sydney on Friday and charged with a foreign interference offence, police, court officials and neighbours of the man said. The man, who the police statement did not name, operates a business overseas and had recently returned to Australia. Csergo was arrested at a residential address in the Sydney beachside suburb of Bondi, a woman who lived at the same address told Reuters. In the statement, police allege the arrested man was contacted while overseas by an individual claiming to be from a think-tank. Csergo is the second person charged with an offence since Australia introduced foreign interference laws in 2018.

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