News

Beijing issues a stark warning to Canberra

Published

3 years ago

July 1, 2022

Beijing is warning Australia will “bear the consequences” if there are any military disputes in the South China Sea

China’s Defence Ministry says Australia is engaging in “risky” behaviour, as surveillance jets fly near the disputed Paracel Islands.

“What is the duty of a soldier? That is to defend the homeland,” says Colonel Tan Kefei.

The islands are claimed by China, Vietnam and Taiwan.

It comes just weeks after an Australian Air Force was challenged by a Chinese J-16 fighter in the disputed territory.

A Chinese J-10 fighter, similar to the one involved in the incident.

Australia’s Defence Minister Richard Marles says some aluminium chaff was drawn into the engines of the P-8A Poseidon.

“The J-16 then accelerated and cut across the nose of the P-8 settling in front of the P-8 at a very close distance,” he said.

The aircraft made its way back to its base, and Marles said the crew responded “professionally”.

It’s believed the Chinese jet also fired flares and chaff as a countermeasure.

The Defence Minister said he had communicated his concerns to Chinese authorities over the incident.

But China’s defence spokesperson, Colonel Tan says “those who come uninvited shall bear the consequences.”

Canada has also been in the firing line, as they reportedly carry out U.N. missions near North Korea.

But Chinese authorities believe the jets were monitoring China “under the pretext of enforcing U.N. Security Council resolutions”.

“No matter what the name or excuse is, it is completely unreasonable to send military planes to the door of others to provoke and jeopardise the national security of other countries,” says Colonel Tan.

Australia’s Prime Minister met with Canada’s leader, Justin Trudeau on the sidelines of the NATO Summit in Madrid this week.

News

This may be the AI market correction, according to traders

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

Published

3 hours ago

November 5, 2025

Ahron Young

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

US stocks have taken a sharp dive as investors grow nervous about stretched valuations and uneven earnings reports from tech giants. Major Wall Street banks, including Morgan Stanley and Goldman Sachs, are warning that the rally could be nearing a 10% correction – a wake-up call for traders betting on unstoppable market momentum.

Nvidia, the world’s most valuable public company, dropped nearly 4%, wiping out around $200 billion in market value. Meanwhile, Palantir slid 6%, dragging other AI and semiconductor names lower. Even gold — a traditional safe haven — dipped 1.6%, signaling widespread investor anxiety.

Bitcoin also broke below the $100,000 mark for the first time since June, underscoring how jittery markets have become. As earnings season unfolds and the US government shutdown looms, investors are questioning whether the bull run that lifted the S&P 35% since April has finally run out of steam.

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News

Dick Cheney dies at 84: The end of an era in American power

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Published

3 hours ago

November 5, 2025

Ahron Young

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Former U.S. Vice President Dick Cheney has died at the age of 84, marking the end of one of the most influential — and controversial — political careers in modern American history. Cheney served under four Republican presidents, most notably George W. Bush, where he became known as one of the most powerful vice presidents in U.S. history.

His family confirmed he passed away from complications related to pneumonia and heart disease. Cheney’s decades in Washington were defined by his hardline approach to national security and his role in shaping America’s response to the September 11 attacks.

Even after leaving office, Cheney remained a strong defender of his policies, particularly the 2003 invasion of Iraq. His passing leaves behind a complicated legacy — one that reshaped U.S. foreign policy and continues to influence Republican politics today.

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News

Nasdaq sell-off deepens amid AI stock concerns

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

Published

5 hours ago

November 5, 2025

Ahron Young

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

In Short:
– Stocks fell due to concerns over AI valuations; S&P 500 down 1.2%, Nasdaq down 1.9%.
– Palantir shares dropped 9% despite strong performance, raising questions about sustainability of high valuations.

Stocks fell on Tuesday as investor concerns regarding artificial intelligence valuations impacted major indices.

The S&P 500 declined by 1.2%, and the Nasdaq Composite dropped by 1.9%, while the Dow Jones Industrial Average lost 304 points, equating to a 0.6% decrease.Palantir shares dropped 9%, despite the company’s strong third-quarter performance and positive forecasts attributed to its AI sector growth. The stock has surged over 150% this year, yet trades at over 200 times its forward earnings, leading investors to question whether such valuations can be sustained.

Other tech stocks also faced declines, including Oracle and AMD, which saw drops of 4% and more than 3%, respectively.

Gains in AI stocks have inflated the S&P 500’s price-earnings ratio above 23, raising concerns about stock valuations. Ameriprise market strategist Anthony Saglimbene highlighted potential risks, stating that investors are questioning if future profit growth will support high capital expenditures.

Market Outlook

Comments from executives at Goldman Sachs and Morgan Stanley further added to market worries.

Both firms predicted potential market pullbacks, with drawdowns of 10% to 20% possible within the next two years. Saglimbene noted a narrow market breadth in recent months, suggesting limited alternatives if a downturn occurs in the tech sector.