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☆ Australia tells exporters to diversify from top trade partner China
▼ + stars: | 2023-04-12 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, April 12 (Reuters) - Australia wants exporters to diversify markets and become less reliant on China, because it cannot separate economic and strategic relationships, Foreign Minister Penny Wong said a day after the trade partners unveiled a path to ending a dispute. Both nations have reached consensus to end their dispute over barley, they said on Tuesday, with Australia suspending a case at the World Trade Organization, while China hastens a review of tariffs on Australian exports. read more"Making sure we do diversify our export markets is an important part of our national resilience," Wong told Sky News in a television interview on Wednesday. As China operates as a "great power in the world", it was inevitable there would be areas where Australia and China did not have the same interests, she added. "Australia's position is, very clearly, no unilateral change to the status quo," she told Sky News in the interview.

☆ Australia defence chief: US intel leak report 'serious' incident
▼ + stars: | 2023-04-11 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, April 11 (Reuters) - A possible intelligence leak by the United States was a "serious" incident, Angus Campbell, the chief of Australia's Defence Force, said on Tuesday, adding that the U.S. was engaging with its partners to understand the consequences. The AUKUS partnership with Britain and the United States for Australia to acquire nuclear-powered submarines was the most prominent example of engagement, he said, but Australia was also working with Pacific island and South East Asian nations. Asked whether Australia had a role in a conflict over Taiwan, Campbell said, "Anything that undermines the security, stability and prosperity of the Indo-Pacific region in which we live is of interest to Australia." The war in Ukraine showed that there was no way to predict how any conflict would unfold, Campbell said. Reporting by Kirsty Needham; Editing by Tom Hogue, Clarence Fernandez and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Here are Thursday's biggest analyst calls: Netflix, Apple, Amazon, Microsoft, FedEx, Pinterest & more
▼ + stars: | 2023-04-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Raymond James upgrades FedEx to outperform from market perform Raymond James said and "undeniable" positive change is underway at the shipping giant. "We are initiating coverage of XPO, one of the largest less-than-truckload (LTL) carriers, in North America, with an Outperform rating and a $44 target price." "We are initiating coverage of Skyworks Solutions, with a Buy rating and $150 target price. Raymond James upgrades Wells Fargo to strong buy from outperform Raymond James said the banking giant is well positioned in the current environment. Raymond James initiates Pinterest as outperform Raymond James said it sees "steady user growth" for Pinterest.

☆ Here are Wednesday's top analyst calls of the day: Disney, Apple, Amazon, Dutch Bros, Meta & more
▼ + stars: | 2023-04-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Bank of America reiterates Disney as buy Bank of America said Disney remains "best-in-class." Piper Sandler reiterates Apple as overweight Piper said its survey checks show Apple is still a top pick for teens. Bank of America upgrades Livent to buy from neutral Bank of America said the lithium company's "value proposition" has increased. " Wedbush upgrades Dutch Bros to outperform from neutral Wedbush upgraded the coffee chain and said it sees more upside. Bank of America reiterates Apple as buy Bank of America raised its price target on Apple to $168 per share from $158 and said it sees iPhone trends stabilizing.

☆ Australia bans TikTok on government devices over security concerns
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +4 min

[1/2] The logo of Chinese-owned video app TikTok is seen on a smartphone in front of an image of the Australian national flag in this illustration picture taken April 4, 2023. REUTERS/Tingshu Wang/IllustrationSYDNEY, April 4 (Reuters) - Australia banned TikTok on Tuesday from all federal government-owned devices over security concerns, becoming the latest U.S.-allied country to take action against the Chinese-owned video app. TikTok's Australia and New Zealand General Manager Lee Hunter said TikTok should not be singled out. "Things are going well, but of course, it'll take some time to turn this ship around," Trade Minister Don Farrell told Sky News, referring to prospects for improving trade relations. TikTok has said the administration of President Joe Biden demanded its Chinese owners divest their stakes or face a potential U.S. ban.

☆ AUKUS needs to pool tech resources as US edge erodes -Australian intelligence chief
▼ + stars: | 2023-04-04 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

Andrew Shearer, the director-general of the Office of National Intelligence, said the balance of power in the Indo-Pacific region was starting to "shift away from the United States and its allies, undermining deterrence". "We are seeing our longstanding technological edge start to erode, and in some cases that edge is totally gone," he added. Schmidt, who has advised United States Department of Defense on artificial intelligence, said China is organised around drones, hypersonic and automation technology, and this should influence Australia's military spending decisions. Although it was likely there would be decoupling between China and Western allies in critical technology, China was not an enemy and the could work together in other areas, he added. He criticised the U.S. government for restricting Chinese researchers from moving to the United States to work on technologies like quantum computing.

☆ Australia to ban TikTok on government devices - media reports
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, April 4 (Reuters) - Australia will announce a ban on TikTok on government phones this week, following other countries in barring the Chinese-owned video app over security concerns, Australian newspapers reported late on Monday. Prime Minister Anthony Albanese agreed to a government-wide ban on the use of TikTok after the completion of a review by the Home Affairs department, The Australian newspaper reported. Victoria state will also ban the short video app from government phones, The Age newspaper reported, quoting a state government official as saying Victoria would follow the federal government's guidance. The United States, Britain, New Zealand, Canada, Belgium and the European Commission have already banned the app from official devices over security concerns. Tiktok Australia general manager Lee Hunter was quoted by The Age as saying the company was disappointed to learn of the ban through the media "despite our repeated offers to engage with government constructively about this policy".

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

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☆ The return of Bob Iger: Disney CEO makes moves that should please investors
▼ + stars: | 2023-04-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

When Iger returned as CEO of Disney back in November 2022 , he promised to implement cost reductions and clean up the House of Mouse. Disney ditches metaverse The news: CNBC confirmed on Tuesday that Disney is getting rid of a small division focused on deploying metaverse initiatives. Disney's metaverse layoffs are part of Iger's broader corporate restructuring plan. Under Iger, Disney bought Marvel from Perlmutter in 2009 in a $4 billion deal. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Australia concerned by delays in trial of journalist detained in China
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

2 Intermediate People's Court, where Australian journalist Cheng Lei is expected to face trial on state secrets charges, in Beijing, China March 31, 2022. REUTERS/Florence LoSYDNEY, March 31 (Reuters) - Australia said it has "deep concerns" about delays in the case of Australian journalist Cheng Lei who faced a closed door trial in Beijing on national security charges a year ago. "We share the deep concerns of Ms. Cheng's family and friends about the ongoing delays in her case," Wong said. Cheng, who has been detained in Beijing since her arrest in 2020, has two young children living in Australia. She was born in China and moved with her parents to Australia as a child.

☆ Apple's own execs are split on whether the company should make smart goggles. Experts say if Apple can't make smart glasses happen, no one can.
▼ + stars: | 2023-03-30 | by ( Asia Martin | ) www.businessinsider.com time to read: +5 min

Apple is reportedly introducing its Reality Pro smart goggles in June. Experts say the goggles may not be a smash success, but if anyone can make it work, it's Apple. Earlier this week, The New York Times reported that a rare wave of dissent made its way into the team behind Apple's mixed-reality smart goggles, called Apple Reality Pro. Apple Reality Pro will have a wow-factor to it because it's had time to improve upon the foundations laid by its competitors. The virtual reality headset market was worth $7.7 billion in 2022, according to a report by Grandview Research.

☆ Apple's streaming service is starting to get serious, says Needham's Laura Martin
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's streaming service is starting to get serious, says Needham's Laura MartinLaura Martin, senior media analyst at Needham joins 'Squawk on the Street' to discuss her thoughts on why the firm says there would be upside for Apple if it buys Disney using shares.

☆ Club meeting recap: Buy, Buy, Buy — why Jim Cramer likes Disney, AMD and Caterpillar so much
▼ + stars: | 2023-03-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Buy Disney Buy Advanced Micro Devices Buy Caterpillar 1. Buy Disney Needham reflected in a research note Thursday that Apple (AAPL) and Walt Disney (DIS) could be worth more together than separately. While unlikely Apple would (or even be allowed by regulators) to buy Disney, Jim Cramer highlighted Needham's analysis, saying it shows Disney is "worth substantially more than people realize." Buy Caterpillar Jim sees a "tremendous opportunity" to buy Club holding Caterpillar (CAT) with the stock down about 6% year-to-date.

☆ Lyft needs to stabilize higher for the stock to succeed long term, says Needham's Bernie McTernan
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLyft needs to stabilize higher for the stock to succeed long term, says Needham's Bernie McTernanBernie McTernan, Needham analyst, joins 'Power Lunch' to discuss Lyft's co-founders stepping down, how the CEO change will impact Lyft, and more.

☆ After twin cyclones leave thousands homeless, Vanuatu takes climate plea to world stage
▼ + stars: | 2023-03-24 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

The Pacific island nation's Minister of Climate Change, Ralph Regenvanu, said 119 governments have co-sponsored Vanuatu's resolution, which seeks legal clarity on the obligation of states to take climate change action, and draws attention to the vulnerability of small islands states hit by worsening storms and rising seas. Vanuatu hopes more nations will sign-on before the general assembly debate begins on Wednesday, and it will be passed by consensus, he said. More than 3,000 people are still in evacuation centres three weeks after two category-four cyclones hit Vanuatu, which has a population of 319,000 spread across 80 islands. Vanuatu took up the challenge to seek a legal opinion from the United Nation's top court after a group of Pacific islands university students in 2019 petitioned governments with the idea. Cynthia Houniuhi, President of the Pacific Islands Students Fighting Climate Change, said it was the most ambitious action they could think of.

☆ Wall St ends higher as Yellen vows actions to safeguard deposits
▼ + stars: | 2023-03-23 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

"The market as a whole is telling you is there are a lot of different ways to interpret all the things people are saying." Interest rate hikes by central banks around the world have stressed the banking sector, which became manifest with the recent failures of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). Comments from the Bank of England that inflation will probably quickly fade also helped fuel hopes of light at the end of the central bank tightening tunnel. "Every central bank that was on path to raise rates raised them," GLOBALT's Martin added. Shares of First Republic Bank (FRC.N) dropped in volatile trading in the wake of Yellen's testimony.

☆ Wall Street rallies on hopes of Fed policy pause
▼ + stars: | 2023-03-23 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"Today the market is bouncing back on what was a dovish Fed hike yesterday," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "Powell did a good job sticking to the party line on inflation and continued to jawbone hawkish even though the hike leaned dovish." Comments from the Bank of England that inflation will probably quickly fade also helped fuel hopes of light at the end of the central bank tightening tunnel. Among the 11 sectors of the S&P 500, communication services (.SPLRCL) and tech (.SPLRCT) led the percentage gainers. The S&P 500 posted four new 52-week highs and 14 new lows; the Nasdaq Composite recorded 45 new highs and 197 new lows.

Traders' bets are almost equally split between the Fed pausing its rate hikes in May and another 25 bps hike, according to CME Group's Fedwatch tool. Communication services (.SPLRCL) and information technology (.SPLRCT) led the gains among the S&P 500 sector indexes, all of which rose, except utilities (.SPLRCU). Bank of America (BAC.N) and UBS (UBS.N) now see the Fed funds rate target peaking at 5-5.25% in May compared to earlier forecasts of 5.25-5.5%. Advancing issues outnumbered decliners by a 3.62-to-1 ratio on the NYSE and 3.27-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and five new lows, while the Nasdaq recorded 17 new highs and 27 new lows.

Bank of America (BAC.N) and UBS (UBS.N) now see the Fed funds rate target peaking at 5-5.25% in May compared to earlier forecasts of 5.25-5.5%. Nvidia Corp (NVDA.O) rose 1.9% after Needham raised its price target on the chipmaker on likely benefit from near-term data center strength. ET is expected to show a rise in jobless claims last week, hinting at some cooling in labor demand. Regeneron Pharmaceuticals Inc (REGN.O) jumped 8.6% on promising results on its blockbuster asthma drug Dupixent from a lung disease trial. Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Savio D'Souza and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Top 10 things to watch in the stock market Thursday: Stocks bounce, Ford EVs, Apple
▼ + stars: | 2023-03-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Marathon Oil (MRO) and Club holding Pioneer Natural Resources (PXD) catch upgrades at Citi. Club holding Ford (F) unveiled its new financial reporting structure ahead of Thursday's teach-in event. Club holding Apple (AAPL) increasing its commitment to sports and content? Coty (COTY) added to Piper Sandler's top ideas in beauty after analysts performed a round of checks in stores in Chicago plus recent company updates. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Chewy and Petco earnings make it clear: Pet health care is their future
▼ + stars: | 2023-03-23 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +5 min

The retailers, which both released their quarterly earnings on Wednesday, began investing heavily into pet health when the pandemic-fueled pet boom saw 23 million American households welcome a new animal into their homes. The boom turned the overall pet market into a $123.6 billion dollar powerhouse in 2021, and it's expected to grow. Pet health care – and the high margins that come with it – is a crucial component to that overall market. It changed its name to Petco Health and Wellness Company in 2020. Pet adoptions surged during the pandemic, triggering a surge in demand for pet goods.

March 21 (Reuters) - The U.S. International Trade Commission said on Tuesday it would ban imports of SharkNinja Operating LLC robot vacuums that infringe a patent owned by Roomba maker iRobot Corp (IRBT.O). The full commission upheld part of a trade judge's October decision that SharkNinja violated two of its rival's patents, affirming that SharkNinja's devices mimicked iRobot navigation technology. Bedford, Massachusetts-based iRobot filed the ITC complaint in 2021 along with a lawsuit against SharkNinja in Boston federal court. Another patent lawsuit iRobot brought against SharkNinja in 2019 has also been paused during related proceedings at the U.S. Patent and Trademark Office. The ITC case is In the Matter of Certain Robotic Floor Cleaning Devices and Components Thereof, U.S. International Trade Commission, No.

☆ China firm wins tender to redevelop Solomon Islands port
▼ + stars: | 2023-03-22 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

"This will be upgrading the old international port in Honiara and two domestic wharves in the provinces," Qaqara said. The Solomon Islands and China have denied the security pact would allow a naval base, however. Delegations from China and the United States are visiting Honiara this week, competing for influence in the strategically-located Pacific islands nation. "This will see the rehabilitation of the old Honiara international port and construction of the Honiara domestic port and two provincial ports," the government said in a statement. Writing in the Australian Foreign Affairs this month, Connolly noted that ADB infrastructure contracts in the Pacific islands had been dominated by Chinese state companies who offered the lowest bids.

☆ China firm wins Solomon Islands port project as Australia watches on
▼ + stars: | 2023-03-22 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

The Solomon Islands and China have consistently denied that their security pact would allow a naval base. The Solomon Islands Infrastructure Development Ministry has said that there will be no expansion of the port for dual use," a spokesperson for Australia's Department of Foreign Affairs and Trade said on Wednesday evening. Delegations from China and the United States are visiting Honiara this week, competing for influence in the strategically-located Pacific islands nation. "This will see the rehabilitation of the old Honiara international port and construction of the Honiara domestic port and two provincial ports," the Solomon Islands government said in a statement. "It is not about bases it is about access," Connolly, a former military officer, said, referring to the security pact between Honiara and Beijing.

☆ Former U.S. Marine may have been 'lured' from China by security agencies before arrest, lawyer says
▼ + stars: | 2023-03-20 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, March 20 (Reuters) - A former U.S. Marine Corps pilot may have been "lured" from China to Australia by security agencies before his arrest, his lawyer said outside court on Monday after an extradition hearing in Sydney. Daniel Duggan, 54, is facing extradition to the United States on charges of breaking U.S. law by training Chinese military pilots to land on aircraft carriers. On Monday, Duggan's extradition case was adjourned until May, as his lawyers seek access to documents from Australian government agencies for his defence. Before moving to China in 2014, he had lived in Australia for a decade and has six children in Australia. Britain's air force chief said this month intelligence agencies in Australia and Britain had shared information to warn pilots against working for Beijing.

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