Australia’s incumbent and shadow Foreign Ministers Marise Payne and Penny Wong have said Beijing must put a halt to its campaign of coercion against the country before diplomatic relations can resume. Speaking at the Foreign Affairs Debate in the lead up to the federal election on May 21, Payne and Wong presented a united front…
Beijing’s Coercion Must Stop Before Relations Can Resume: Australian Foreign Minsters
May 13, 2022
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7 Walt Disney Analysts React to Q2 Earnings Miss, Subscriber Beat, Ongoing Asia Weakness
Walt Disney Co shares traded lower by 3.7 percent on Thursday after the company reported first-quarter earnings and said ongoing COVID-19 disruptions are weighing on its Asia theme park business. On Wednesday, Disney reported fiscal second-quarter adjusted EPS of $1.08 on revenue of $19.25 billion. Both numbers missed consensus analyst estimates of $1.19 and $20.1…
Housing Beat: Mortgage Rates Keep Climbing as Inventory Levels Slowly Expand
More homebuyers were taking out mortgages despite climbing rates while the tight housing inventory is showing signs of improving. Nonetheless, many homebuyers are not optimistic about the housing market’s near future. On the Homebuying Front Freddie Mac reported the 30-year fixed-rate mortgage averaged 5.30 percent as of May 12, up from last week when it averaged…
Western Australia’s Government Faces Calls to Increase Spending Amid Budget Surplus
The Opposition and experts in public affairs are calling on Western Australia’s (WA) Labour government to increase its spending to tackle the healthcare and housing crises after the state reported a $5.7 billion (US$3.92 billion) budget surplus in the 2021-2022 financial year. While confirming the surplus and announcing the state budget for 2022-2023, Premier Mark…
Trump Organization Closes Sale of Washington Hotel
The Trump Organization said on Wednesday that it completed the $375 million sale of the lease on the Trump International Hotel in Washington to an investment firm that plans to rebrand the property as the Waldorf Astoria. The business owned by the family of former President Donald Trump bought the rights in 2013 to the…
Why Apple Stock Will Bounce Despite Bear Cycle
Apple Inc. gapped down about 2.4 percent to start Thursday’s trading session and within the first few minutes had fallen 4 percent off Wednesday’s closing price. The general markets turned heavily bearish at the end of March, which technical traders may have predicted a few weeks earlier when the 50-day simple moving average (SMA) crossed below…
Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years
Apple, Inc.’s iPhone assembler Hon Hai Precision Industry Co., Ltd. turned in forecast-beating results for the first quarter, defying the odds that included COVID lockdowns in China, supply challenges, input price inflation and demand slowdown. What Happened Hon Hai, widely known as Foxconn, reported a 5 percent increase in its first-quarter net income to NT$29.45…
HSBC Launches $1 Billion Lending Fund for Female Entrepreneurs
HSBC Holdings said on Thursday it was launching a $1 billion lending fund to invest in female-owned businesses over the next 12 months. “The level of funding received over time by female-led businesses is significantly lower than male counterparts, while the recent impacts of the pandemic have seen these same businesses disproportionately affected,” Sam Cooper-Gray,…
Ford Sells Shares in EV Maker Rivian for $214 Million
Ford Motor Co. sold eight million shares of electric-car maker Rivian Automotive Inc. for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. Ford now holds nearly 94 million shares, or a 10.5 percent stake, and is still the fourth-largest shareholder in the Irvine, California-based company, according to Refinitiv data….
Boeing Sees Progress on 787, China, but Supply Chain Risks Loom
SEATTLE—Boeing Co. said on Wednesday it would study an equity raise after unlocking deliveries of its 787 and returning its cash-cow 737 MAX to service in China, but flagged supply chain risks amid broader certification and industrial problems. Resuming deliveries of 787 Dreamliners and clearing inventories of its 737 Max are vital for Boeing’s ability…
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