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Australia’s defence minister says no to U.S. subs down under

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Australia's defence minister

Australia’s defence minister says no to permanently basing U.S. subs down under, welcomes greater military presence

Australia’s Defence Minister Richard Marles has welcomed greater U.S. military presence in the nation, but has ruled out the possibility of having a permanent home for American submarines.

Marles is in Washington, meeting with his U.S. counterpart, Defence Secretary, Lloyd Austin.

Earlier, Marles made a visit to a nuclear submarine manufacturing yard in New England.

It follows speculation the Australian government may have been considering allowing some American subs to have a permanent home down under.

But the defence minister has ruled out this proposition.

He says while America’s naval presence in Australia has been growing, “home porting” takes it a step further. He says this is not a position the government wants to be in at this stage.

“The trajectory of the American presence in Australia has been growing … and that’s what we would anticipate,” Marles told The Herald Sun

It comes as the two nations seek to increase their defence relationship and enhance their forces.

It’s expected Australia will soon face a so-called “capability gap” after the current fleet of Collins-powered subs is retired. The country will then have to wait for the arrival of nuclear-powered vessels.

The defence minister’s visit to Washington comes ahead of the Albanese government’s first AUSMIN defence and foreign policy talks with American officials.

Additionally, Marles and his UK and U.S. counterparts will also hold their first AUKUS trilateral meeting.

Here, details about Australia’s path to acquire nuclear-powered submarines of its own are likely to be finalised, but they will be kept secret until next year.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Eisman identifies infrastructure as key investment opportunity

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Famed investor Steve Eisman, has shifted his focus to infrastructure, citing three main reasons.

 

The pandemic-induced shift towards onshore investment, the rise of AI necessitating data centre expansion, and the global push towards greener energy.

Eisman believes these trends offer a decade-long opportunity for investors, with Australia presenting ample opportunities for market participation.

Notable companies to consider for exposure include BlueScope and James Hardie Industries for building materials, Macquarie Technology and Goodman Group for data centres, and Worley, AGL Energy, and Origin Energy for electricity grid upgrades and green infrastructure.

However, Eisman cautions investors to approach utility investments carefully, considering their capital expenditure budgets in renewable energy and grid upgrades.

 

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Civil War cinema brings in the box office dollars

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Alex Garland’s film “Civil War” has made a significant impact at the box office, surpassing expectations with a $25.7 million opening weekend in North America.

Starring Kirsten Dunst, Wagner Moura, and Cailee Spaeny, the film explores a near-future scenario where California and Texas unite against a president’s authoritarian regime. Despite fictional elements, “Civil War” has sparked widespread discussion, with its themes resonating in today’s political climate. The film’s performance, coupled with positive reviews, suggests a promising trajectory in the coming weeks, bolstered by a relatively quiet release schedule.

You can catch the trailer here

 

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Oil likely to see hike following Iran’s Israel attack

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Global oil markets are poised for potential disruption as tensions escalate in the Middle East following Iran’s recent attack on Israel.

The attack, which targeted key infrastructure, has raised concerns about the stability of oil supplies in the region.

Experts predict that the incident could lead to a spike in oil prices as investors react to the heightened geopolitical risk. #ticker today #featured

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