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☆ US Special Operations Command is working on a new mini-sub to carry SEALs to their targets in style
▼ + stars: | 2023-08-10 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The Dry Combat Submersible would shield SEALs from the sea, unlike other delivery vehicles. US Navy/Chief Photographer's Mate Andrew McKaskleThe battery-powered Dry Combat Submersible is about 40 feet long and weighs a little over 28 tons. But perhaps the biggest difference is that the Dry Combat Submersible keeps frogmen dry, unlike the SEALs' other submersibles, which are open to the sea. US Navy/Chief Journalist Dave FliesenUS special-operations leaders have big ambitions for the Dry Combat Submersible and their other mini-subs. The Mark 11 is meant to carry small teams of Navy SEALs into an enemy harbors and shores without detection.

Persons: Lockheed Martin, SOCOM, Photographer's, Andrew McKaskle, Gregg Bauer, John Parker, Bauer, Dave Fliesen, Christopher Perez The, Mark, Stavros Atlamazoglou Organizations: Operations Command, Lockheed, Service, US Navy SEALs, Special Operations Command, US Navy, Navy, DCS, Naval, Warfare Command, Navy SEALs, Warfare, Special Boat Service, US State Department, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Wall, Silicon, Russia, China, Ukraine, Philadelphia, Georgia, Naples, Italy, Sutton, Dallas, Norfolk, Pearl, Christopher Perez The British, British, Johns

Sources said Biden's schedule for Asia is not official until it has been announced and could change. One senior diplomat referred to Indonesia having scheduled the ASEAN summits, which are normally held in November, for September, specifically to make is possible for Biden to attend and then go on to the G20. Sources said Biden was expected to send Vice President Kamala Harris in his place. Policy analysts said another no-show by Biden, who attended ASEAN meetings in Cambodia in November, would call that characterization into question. "Southeast Asia has been impressed that Washington under Biden has stepped up engagement with the region," Hiebert said.

Persons: Joe Biden, Jonathan Ernst WASHINGTON, Biden, we'll, Kamala Harris, Harris, Jonathan, Murray Hiebert, Hiebert, Ted Osius, Donald Trump, Barack Obama, David Brunnstrom, Simon Lewis, Michael Martina, Stanley Widianto, Grant McCool Organizations: REUTERS, Reuters, Association of Southeast Asian Nations, ASEAN, White, White House, Biden, U.S ., Southeast, Washington's Center, Strategic, International Studies, ASEAN Business Council, Democrat, Republican, Thomson Locations: Tusayan , Arizona, U.S, JAKARTA, Jakarta, India, Vietnam, Indonesia, Washington, Asia, American, Papua New Guinea, Australia, ASEAN, Cambodia, Southeast Asia, East Asia

☆ Biden says he plans to travel to Vietnam ‘shortly’
▼ + stars: | 2023-08-08 | by ( Donald Judd | ) edition.cnn.com time to read: +1 min

CNN —President Joe Biden on Tuesday said that he plans to soon visit Vietnam in an effort “to change our relationship,” with the Southeast Asian nation. “I’m going to be going to Vietnam shortly, because Vietnam wants to change our relationship and become a partner,” he said, according to press pool reports from a campaign reception. Biden’s off-camera remarks in Albuquerque, New Mexico, come as his administration is seeking to counter China’s influence in the Indo-Pacific region. The White House declined to comment Wednesday, telling CNN the administration has “nothing to speak to today.”“On Vietnam, I don’t have any travel details to speak to today,” White House National Security Council Coordinator for Strategic Communications John Kirby told CNN’s Kevin Liptak during a virtual gaggle Wednesday. The announcement had marked one of the centerpieces of Biden’s visit to the continent.

Persons: Joe Biden, “ I’m, ”, Strategic Communications John Kirby, CNN’s Kevin Liptak, “, Biden Organizations: CNN, National Security, Strategic Communications, Economic Locations: Vietnam, Albuquerque , New Mexico, Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Tokyo

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoBEIJING, Aug 7 (Reuters) - China's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday. Imports are expected to have shrunk by 5.0%, after a fall of 6.8% in June, reflecting slightly improved domestic demand. The median estimate in the poll indicated only marginal change in China's trade surplus, with analysts predicting it will come in at $70.60 billion, compared with 70.62 billion in June. China's trade data will be released on Tuesday.

Persons: Aly, Joe Cash, Anant Chandak, Susobhan Sarkar, Shri Navaratnam Organizations: REUTERS, Thomson Locations: Shanghai, China, BEIJING, Beijing, outflows, Bengaluru

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Investors in China's stock markets, however, were clearly underwhelmed, as Hong Kong's Hang Seng Index (.HSI) dropped roughly 2% over the week, while the mainland's benchmark CSI 300 index (.CSI) eked out a 0.7% gain. But investors are becoming frustrated by the time the NDRC is taking to flesh out stimulus policies, or order measures like a cut in stamp duty - that could help China's ailing property sector, and please investors in stocks and bonds. Even in a best-case scenario, growth over the second half of this year looks set to be modest." Reporting by Joe Cash and Albee Zhang in Beijing; Editing by Himani Sarkar & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, HSI, flexibly, Zou Lan, Xu Tianchen, Joe Cash, Albee Zhang, Himani Sarkar, Simon Cameron, Moore Organizations: People's Bank of China, REUTERS, National Development, Reform Commission, Communist Party's, UBS, Council, Economist Intelligence Unit, Weibo, Capital Economics, Thomson Locations: Beijing, China, BEIJING

[1/3] Florida Governor and Republican presidential candidate Ron DeSantis speaks at the Republican Party of Iowa's Lincoln Day Dinner in Des Moines, Iowa, U.S., July 28, 2023. China is mentioned daily at campaign stops, in digital ads and in policy speeches by the various Republican candidates. Some 50% of Americans identify China as the greatest threat to the United States, according to a Pew Research poll released in late July. On the stump, they have said the United States must stand by Ukraine. If the United States does not confront Russia, they say, China will feel emboldened.

Persons: Ron DeSantis, Scott Morgan, Democratic Biden, DeSantis, Nikki Haley, Donald Trump, Tim Scott, Trump, Terry Sullivan, Marco Rubio's, Joe Biden, Pew, Haley, Scott, Jamieson Greer, King, Wendy Cutler, Mike Pence, Gram Slattery, David Lawder, Michael Martina, Ross Colvin, Alistair Bell Organizations: Florida Governor, Republican, Republican Party of Iowa's, REUTERS, Democratic, East, Newsweek, Justice Department, Pew Research, Trade, Spalding, U.S . Trade Representative, Trump, Heritage Foundation, Russia, China, American Enterprise Institute, Thomson Locations: Des Moines , Iowa, U.S, ROCHESTER , New Hampshire, China, United States, America, Communist China, Russia, Iran, Beijing, Washington, Ukraine

REUTERS/David GrayLONDON, Aug 3 (Reuters) - Rio Tinto (RIO.L) is finding out just how hard it is to produce low-carbon aluminium. The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons. The pilot plant will produce around 6,000 metric tons of alumina per year while cutting carbon dioxide emissions by about 3,000 metric tons per year. Capacity at the low-carbon AP60 smelter, also in Quebec, will be expanded by 160,000 metric tons per year, with commissioning expected in 2026. Rio is investing heavily in recycled aluminium, which can be remelted using just 5% of the power needed to produce virgin metal.

Persons: David Gray, Rio, we're, Jakob Stausholm, Peter Cunningham, Jan Harvey Organizations: Rio Tinto, REUTERS, David Gray LONDON, Queensland Aluminium, Japan's Sumitomo Corp, International Aluminium Institute, Alcoa, Giampaolo, Reuters, Thomson Locations: Rio, Gove, Darwin, Australia's Northern, Pacific, Queensland, Australia, Portland, U.S, Canada, Quebec, North

☆ North Korea denounces US arms aid to Taiwan as 'dangerous' provocation
▼ + stars: | 2023-08-03 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

A North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. REUTERS/Edgar Su/File PhotoSEOUL, Aug 4 (Reuters) - North Korea on Friday criticised a U.S. weapons aid package to Taiwan, state media reported on Friday, accusing the United States of driving tensions in the region to "another ignition point of war". The United States unveiled an aid package for Taiwan worth up to $345 million on Friday as Congress authorised up to $1 billion worth of weapons for the island as a part of the 2023 budget. Taiwan rejects China's sovereignty claims and says only Taiwan's people can decide their future. North Korean leader Kim Jong Un met a Chinese delegation in Pyongyang last week and vowed to develop the two countries' relations to a "new high".

Persons: Edgar Su, Kim Jong Un, Soo, hyang Choi, Gerry Doyle Organizations: North, REUTERS, United, U.S, Thomson Locations: Korea, North Korean, Kuala Lumpur, Malaysia, SEOUL, North Korea, U.S, Taiwan, United States, Yong, China, Beijing, Washington, Taipei, Asia, Pacific, Pyongyang

The DOJ announced Thursday that 2 US Navy sailors were arrested this week. The DOJ accused Navy service member Wenhen Zhao, 26, of giving military info to China for $14,866. The two sailors were charged with similar crimes, but they were charged in separate cases, and it wasn't clear Thursday if the two were connected or if they were courted or paid by the same Chinese intelligence officer. The Justice Department charged Wei under a rarely used Espionage Act statute that makes it a crime to gather or deliver information to aid a foreign government. Zhao, the second officer charged, is accused of sharing information, including operational plans for a U.S. military exercise in the Indo-Pacific Region.

Persons: Jinchao Wei, Wenhen Zhao, Wei, Zhao, ____ Baldor, Eric Tucker Organizations: DOJ, US, Service, DIEGO, US Navy, Naval, The Justice Department, Justice Department, Helicopter, Ospreys, Prosecutors, Associated Press Locations: USS Essex, China, Wall, Silicon, San Diego, Essex, Pacific, Washington

REUTERS/Tyrone Siu/File PhotoWASHINGTON, Aug 3 (Reuters) - Two U.S. Navy sailors have been arrested on charges of handing over sensitive national security material to China, U.S. officials said Thursday. "There is no bigger, multigenerational threat to the United States" than China, said FBI Special Agent Stacey Moy. Beijing "will stop at nothing to attack the United States in its strategic plan to become the world's sole superpower." U.S.-China relations have been tense for years over a range of national security and trade issues. The United States has accused China of espionage and cyberattacks, a charge that Beijing has rejected.

Persons: Tyrone Siu, Wenheng Zhao, Jinchao Wei, Matt Olsen, Zhao, Wei, Stacey Moy, Kanishka Singh, Raphael Satter, Mark Porter, Alison Williams, Jonathan Oatis, Cynthia Osterman Organizations: U.S . Navy, REUTERS, USS, Embassy, United, Thomson Locations: Essex, U.S, Hong Kong, China, San Diego, People’s Republic of China, Okinawa, Japan, Ventura County, San Clemente, Los Angeles, USS Essex, United States, Beijing, Washington

☆ Hugo Boss stays strong in tough China, U.S. markets
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hugo Boss store is seen in Polanco in Mexico City, Mexico May 20, 2017. Its business in EMEA and the Americas benefited from a pick-up in tourism, Hugo Boss said, while currency-adjusted revenue in China increased 56% from a year earlier, making the Asia-Pacific region the strongest for the company. The company expects its annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss forecasts its 2023 operating profit to grow 20% to 25% to a level of 400 million to 420 million euros, versus its prior range of 10% to 20%. Shares of Hugo Boss were seen up 0.7% in early Frankfurt trade.

Persons: Hugo Boss, Henry Romero, Hugo, JP Morgan, Linda Pasquini, Milla Nissi, Christopher Cushing Organizations: REUTERS, U.S, Group, Thomson Locations: Polanco, Mexico City, Mexico, China, Asia, EMEA, Americas, Pacific, Frankfurt, Gdansk

☆ Exclusive: Mongolia, US to sign 'Open Skies' deal ahead of talks -Harris, PM
▼ + stars: | 2023-08-02 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

REUTERS/Kevin WurmAug 2 (Reuters) - The United States and Mongolia will sign an "Open Skies" civil aviation agreement, Vice President Kamala Harris and Mongolian Prime Minister L. Oyun-Erdene said on Wednesday at the start of discussions focused on Russia, China and economic development. Washington has Open Skies civil aviation agreements with more than 130 countries. The Open Skies deal between the U.S. and Mongolia will build on a memorandum of understanding for an air transport agreement reached in January. Mongolia's national carrier, MIAT Mongolian Airlines, flies to Europe and Asia but not the United States at present. Although passenger demand may not merit nonstop flights between the Mongolian capital, Ulaanbaatar, and the U.S., the Open Skies deal would also provide easier options for cargo flights between the nations.

Persons: Kamala Harris, Oyun, Kevin Wurm, Erdene, Biden, Harris, Joe Biden, Tesla, Elon Musk, Antony Blinken, Trevor Hunnicutt, Andrea Shalal, Jamie Freed, Jonathan Oatis, Leslie Adler Organizations: U.S, Mongolia's, White, REUTERS, Mongolian, China, MIAT, MIAT Mongolian Airlines, SpaceX, Biden, Google, Thomson Locations: Washington , U.S, United States, Mongolia, Russia, China, Washington, Ukraine, Japan, South Korea, . Washington, MIAT Mongolian, Europe, Asia, Ulaanbaatar, U.S, Birmingham , Alabama

FILE PHOTO-People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File PhotoSummaryCompanies First-half EPS up 17%Sees full-year EPS 10%-12% higher, previous forecast 5%-7%Lifts interim dividend by 11%Shares up 5%LONDON, Aug 2 (Reuters) - Britain's biggest defence company BAE Systems (BAES.L) upgraded its guidance for 2023, forecasting annual earnings growth of 10%-12%, as governments spend more on military equipment in "an increasingly uncertain world". BAE Systems said its good operational performance plus the demand from its customers, the biggest of which are the United States, Britain, Saudi Arabia and Australia, meant its full-year results would be better than expected across the board. Shares in BAE Systems jumped 5% in early deals. For 2023, BAE said earnings per share would grow 10%-12%, compared to the 5%-7% increase it had forecast in February, while it also lifted sales guidance to 5%-7% growth from 3%-5%.

Persons: Cheney Orr, Charles Woodburn, Woodburn, Hargreaves, Aarin, Sarah Young, Paul Sandle, Kate Holton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson Locations: Huntsville , Alabama, U.S, United States, Britain, Saudi Arabia, Australia, Russia, Ukraine, Asia, Pacific, Europe, Czech Republic, Poland, Qatar, Christian

☆ Caterpillar hits an all-time high, delivering big on an item that sank the stock last quarter
▼ + stars: | 2023-08-01 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Club holding Caterpillar (CAT) delivered another strong quarter before the opening bell Tuesday, sparking a much-deserved rally of more than 8% to an all-time high above $287 per share. Revenue in the second quarter increased 22% year over year to $17.32 billion, exceeding estimates of $16.49 billion, according to Refinitiv. On the call, management called out strong demand in both North American residential and nonresidential construction. Fortunately, China represents less than 5% of sales with weakness being more than offset by strong demand elsewhere in the Asia/Pacific region. Caterpillar dealers are independent businesses and they're not going to increase inventory levels if they aren't seeing strong demand on the near-term horizon.

Persons: —, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Caterpillar, Revenue, Financial, Construction Industries, . Resource Industries, Energy, Transportation, Machinery, Energy & Transportation, CNBC Locations: North America, America, Europe, Africa, Asia, Pacific, China, Harbor, Brooklyn , New York

☆ EU ready to strengthen maritime security cooperation with the Philippines
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

[1/4] Philippine President Ferdinand Marcos Jr., claps beside European Commission President Ursula von der Leyen, after signing ceremonies at the Malacanang Presidential Palace in Manila, Philippines, July 31, 2023.Aaron Favila/POOL via REUTERSMANILA, July 31 (Reuters) - The European Union is ready to strengthen cooperation with the Philippines on maritime security, European Commission President Ursula von der Leyen said on Monday, as she stressed the importance of a free and open Indo-Pacific region. She was speaking after a meeting with Philippine President Ferdinand Marcos Jr. in Manila where the two leaders discussed a range of issues from security and trade to climate change. "We are ready to strengthen the cooperation with the Philippines on maritime security in the region by sharing information, conducting threat assessment and building the capacity of your coast guard," she said in a joint press conference with Marcos. Von der Leyen on Monday reaffirmed the EU's support for a 2016 international arbitration ruling that invalidated Beijing's expansive claims, saying the ruling is legally binding and provides the basis for resolving disputes peacefully. Von der Leyen also said the European Union will support the Philippines' fight against climate change, which is a priority for Marcos as he pushes to increase renewables in the country's power mix to 35% by 2030.

Persons: Ferdinand Marcos Jr, Ursula von der Leyen, Aaron Favila, Marcos, Von der Leyen, Karen Lema, Neil Jerome Morales, Kanupriya Kapoor Organizations: Philippine, European, REUTERS, European Union, Thomson Locations: Manila, Philippines, REUTERS MANILA, The Philippines, United States, China, South China, European

BEIJING, July 31 (Reuters) - China's manufacturing activity fell for a fourth straight month in July while the services and construction sectors teetered on the brink of contraction, official surveys showed on Monday, threatening growth prospects for the third quarter. Construction sector activity for July was its weakest since COVID-19-related workplace disruptions dissipated around February, data from the National Bureau of Statistics showed. The non-manufacturing PMI, which incorporates sub-indexes for service sector activity and construction, dropped to 51.5 from June's 53.2. "Meanwhile, we're seeing improvements in inventory levels, suggesting that with destocking nearing its end, China's manufacturing sector bottomed out in the second quarter," he added. "Unless concrete support is rolled out soon, the recent downturn in demand risks becoming self-reinforcing."

Persons: Xu Tianchen, Julian Evans, Pritchard, Joe Cash, Sam Holmes, Edmund Klamann Organizations: National Bureau, Statistics, Communist Party, PMI, Economist Intelligence Unit, destocking, China, State, Capital Economics, Thomson Locations: BEIJING, China

☆ U.S. to help Australia develop guided missiles by 2025
▼ + stars: | 2023-07-30 | by ( ) www.cnbc.com time to read: +3 min

"We are pursuing several mutually beneficial initiatives with Australia's defence industry, and these include a commitment to help Australia produce guided multiple launch rocket systems... by 2025," Austin told a press conference. Austin and Secretary of State Antony Blinken are in Queensland state for the annual Australia-U.S. The U.S. will help Australia produce guided multiple-launch rocket systems by 2025, Defense Secretary Lloyd Austin said on Saturday, after the two nations' top officials pledged to engage with China but also oppose it if needed. U.S Secretary of State Blinken said "chief" among Saturday's high-profile talks with Australia was a shared commitment to a free and secure Indo-Pacific region. The games, however, were put on hold after an Australian military helicopter participating in the exercises crashed into the ocean, with at least four people onboard feared dead.

Persons: Richard Marles, Penny Wong, Antony Blinken, Defense Lloyd Austin, Austin, Lloyd Austin, Marles, Blinken Organizations: Australian, Defense, Conference, Queensland Government House, Austin, . Ministerial, Labor, U.S, Australia, Talisman Sabre Locations: Brisbane, U.S, Australia, Queensland, China, Taiwan, Australian, Ukraine, Russia, Beijing

[1/5] China's Vice Premier He Lifeng and French Economy and Finance Minister Bruno Le Maire attend the China-France Economic and Financial Dialogue at the Diaoyutai State Guesthouse in Beijing, China, July 29, 2023. REUTERS/Thomas PeterBEIJING, July 29 (Reuters) - China hopes France can "stabilise the tone" of EU-China relations, vice-premier He Lifeng told a senior French minister in Beijing on Saturday, as European leaders debate how to "de-risk" but also cooperate with the world's second-largest economy. "It is hoped that France will stabilise the tone of friendly cooperation between China and the EU," He said in opening remarks before an afternoon of discussions at Beijing's Diaoyutai State Guest house, adding that China believes its bilateral ties with France "have a good foundation". "It is essential to think about the expansion and deepening of economic and financial cooperation between France and China," La Maire said. "We would like to welcome major new investments from China to French territory."

Persons: Lifeng, Bruno Le Maire, Thomas Peter BEIJING, State Anthony Blinken, Janet Yellen, Le Maire, La Maire, Joe Cash, Layli Foroudi, Liz Lee, Lincoln, Giles Elgood Organizations: China's, Finance, France Economic, REUTERS, Economy, Beijing's, U.S, State, Economic, European Union, Union, Huawei, Thomson Locations: French, China, France, Diaoyutai, Beijing, EU, United States, Russia, Paris

☆ US to help Australia develop guided missiles by 2025
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +3 min

SYDNEY, July 29 (Reuters) - The U.S. will help Australia produce guided multiple-launch rocket systems by 2025, Defense Secretary Lloyd Austin said on Saturday, after the two nations' top officials pledged to engage with China but also oppose it if needed. Austin and Secretary of State Antony Blinken are in Queensland state for the annual Australia-U.S. "We are pursuing several mutually beneficial initiatives with Australia's defence industry, and these include a commitment to help Australia produce guided multiple launch rocket systems... by 2025," Austin told a press conference. U.S Secretary of State Blinken said "chief" among Saturday's high-profile talks with Australia was a shared commitment to a free and secure Indo-Pacific region. The games, however, were put on hold after an Australian military helicopter participating in the exercises crashed into the ocean, with at least four people onboard feared dead.

Persons: Lloyd Austin, Antony Blinken, Austin, Richard Marles, Marles, Blinken, Praveen Menon, Sam McKeith, William Mallard Organizations: SYDNEY, Austin, . Ministerial, Australian, Labor, U.S, Australia, Talisman Sabre, Thomson Locations: U.S, Australia, China, Queensland, Taiwan, Australian, Ukraine, Russia, Beijing

☆ Australia awards South Korea's Hanwha $4.7 bln defence contract
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 27 (Reuters) - South Korea's biggest defence company Hanwha Aerospace (012450.KS) on Thursday beat Germany's Rheinmetall (RHMG.DE) to win an Australian contract worth up to A$7 billion ($4.74 billion) for building 129 infantry fighting vehicles. The deal, which Defence Industry Minister Pat Conroy described as one of the largest projects in the history of the Australian army, will have a value of A$5 billion to A$7 billion. Australia has been upgrading its defence capabilities, citing the changing strategic environment in the Pacific region, where China is looking to increase its influence. Hanwha said the deal would further boost ties between Australia and South Korea and had "significant implications" for defence and economic cooperation. ($1 = 1.4780 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Alasdair Pal and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Germany's, Pat Conroy, Conroy, Hanwha, Hanwha's, Anthony Albanese, Renju Jose, Alasdair Pal, Jamie Freed Organizations: SYDNEY, Hanwha Aerospace, Germany's Rheinmetall, Defence Industry, Rheinmetall, Thomson Locations: Australia, Victoria, Pacific, China, South Korea, Germany, Sydney

☆ About 40% of the world's population is now on Facebook — but most of the new users came from outside the US and Canada
▼ + stars: | 2023-07-27 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Facebook now has 3 billion monthly users, but most of the growth came from outside the US and Canada. And while the app's monthly users have more-or-less increased quarter on quarter, there were panic signals when Facebook's daily active users shrank for the first time in the app's history in the last quarter of 2021. Facebook's monthly active users in the US and Canada increased by only around one million, while it actually dropped by two million in Europe, per the company's earnings presentation. The largest increase in Facebook users came from the Asia-Pacific region and the rest of the world, at around 25 and 16 million monthly active users, respectively. The app amassed over 100 million users within its first five days.

Persons: That's, it's, —, Meta, Insider's Jyoti Mann Organizations: Facebook, Meta, Twitter, Bloomberg Locations: Canada, Europe, Asia, Pacific

The ousting of Flavel is one of the first actions taken by NatWest's interim CEO Paul Thwaite, after the group's former CEO Alison Rose quit on Wednesday over the same matter. NatWest has faced intense scrutiny over the decision by Coutts to sever ties with Farage. An internal review obtained by the politician-turned-TV show host showed Coutts' wealth reputational risk committee had said his values did not align with the bank's own. Australian-born Flavel, who previously served as CEO of JPMorgan Private Wealth Management in Asia Pacific region, took the top job at Coutts in 2016. Mohammad Kamal Syed will step into the role of interim CEO of Coutts and NatWest's wealth businesses, Thwaite said, adding that Flavel was stepping down by "mutual consent".

Persons: Coutts, Peter Flavel, Nigel Farage's, Flavel, Paul Thwaite, Alison Rose, Rose, she'd, Farage, Howard Davies, Charles Dickens, Queen Elizabeth II, Mohammad Kamal Syed, Thwaite, Iain Withers, Sinead Cruise, Lawrence White Organizations: NatWest, BBC, Reuters, JPMorgan Private Wealth Management, Thomson Locations: Asia Pacific

☆ General Dynamics raises revenue outlook on private jet, military equipment demand
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] A General Dynamics NASSCO ship yard entrance is shown in San Diego, California, U.S., June 17, 2019. REUTERS/Mike Blake/File Photo/File PhotoJuly 26 (Reuters) - General Dynamics (GD.N) on Wednesday lifted its annual revenue forecast as demand for business jets and military equipment stays resilient, sending its shares up 3% at midday. Demand for business jets from U.S. corporations remains buoyant despite a recovery in commercial flights and pressure from environmentalists over emissions. "It's the Fortune 500 that are really driving the demand (for business jets). The company forecasts revenue in the segment to rise between $900 million and $1 billion to $11 billion in the year.

Persons: Mike Blake, Phebe Novakovic, Pratyush Thakur, Shilpi Majumdar, Maju Samuel Organizations: Dynamics, REUTERS, General Dynamics, Gulfstream, Thomson Locations: San Diego , California, U.S, Ukraine, Reston , Virginia, Bengaluru

☆ General Dynamics profit beats estimates on military equipment demand
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Defense contractor General Dynamics Corp (GD.N) on Wednesday reported a better-than-expected quarterly profit, helped by resilient demand for military equipment, sending its shares up 2% in premarket trading. General Dynamics benefited from robust demand for weapons, driven by simmering geopolitical tensions in the Indo-Pacific region, conflict in Ukraine and military modernization efforts of ally countries. The aerospace segment booked $2.5 billion in new orders during the quarter, driven by strong demand for the company's Gulfstream business aircraft. The company reported a backlog of $91.4 billion, compared to $87.6 billion. Its book-to-bill ratio, which is the ratio of orders received to units shipped and billed, was 1.2-to-1.

Persons: Pratyush Thakur, Shilpi Majumdar, Maju Samuel Organizations: Defense, General Dynamics Corp, General Dynamics, Revenue, U.S . Navy, Gulfstream, Thomson Locations: Ukraine, Virginia, Reston , Virginia, Bengaluru

SYDNEY, July 26 (Reuters) - Asian markets were trading mostly weaker on Wednesday ahead of the U.S. Federal Reserve's expected interest rate rise to be delivered later in the day, as investors also weighed the likelihood of a Chinese economic stimulus package. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was flat, after U.S. stocks ended the previous session with mild gains. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8848% compared with a U.S. close of 4.893%. Australia was the only major market across the Asia Pacific region to see shares rise, with the S&P/ASX 200 index (.AXJO) up 0.81%. On Wall Street, the three main indices closed higher, led by gains in shares of technology, materials and communication services companies.

Persons: Karen Jorritsma, Brent, Scott Murdoch, Jamie Freed Organizations: SYDNEY, U.S, U.S . Federal, Nikkei, CSI, Dow Jones, Nasdaq, Global, ANZ, RBC Capital Markets, Thomson Locations: U.S ., Asia, Pacific, Japan, Australia, Hong Kong, China, Sydney

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