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Biden warned supplying nuclear subs to Australia threatens US security
The high-profile AUKUS alliance has been thrown some bad news
A few weeks on from the announcement of the AUKUS alliance between Australia, the US and Britain – there are renamed calls to scrap the use of weapons-grade uranium on submarines.
It follows a group of former US officials and experts writing to President Joe Biden, warning the new deal will impact America’s national security and encourage hostile nations to purchase uranium in retaliation.
Former Australian Prime Minister Malcolm Turnbull says Australia’s lack of nuclear expertise could lead to “more plug and pray” than “plug and play”.
In a bid to heal relations, a former Nato deputy secretary-general is calling on Australia to acquire non-weapons grade uranium from France instead.
In the letter to Biden, seven signatories call on the president to commit to using low-enriched uranium.
It says “the Aukus deal to supply Australia with nuclear-powered attack submarines fuelled with weapons-grade uranium could have serious negative impacts on the global nuclear regime and thereby on US national security”.
The core of the concerns is the fact that if a non-nuclear country like Australia gets this uranium then other countries would use that example to justify their own acquisition.
News
RBA holds rates as investors shift from property to stocks
RBA holds rates at 3.6%, shifting investor focus from property to potential stock market gains amid persistent inflation pressures.
RBA holds rates at 3.6%, shifting investor focus from property to potential stock market gains amid persistent inflation pressures.
The Reserve Bank of Australia has held interest rates at 3.6 percent, signalling a steady approach as inflation pressures persist and prompting investors to reassess their strategies in an uncertain climate.
The decision has shifted attention away from the property market, with experts suggesting the stock market may offer stronger opportunities, especially for those looking to outpace inflation over the long term.
We speak with Dale Gilham from Wealth Within about what the RBA’s call means for investors, why confidence in housing is changing, and what smarter financial choices look like in 2025.
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U.S. retail sales slowdown sparks new fears ahead of Fed decision
U.S. retail sales weaken, raising concerns about consumer spending and economic resilience ahead of the holiday season.
U.S. retail sales weaken, raising concerns about consumer spending and economic resilience ahead of the holiday season.
Retail sales in the U.S. have unexpectedly weakened, raising new questions about consumer strength and the resilience of the economy. As Americans pull back on spending, analysts are watching closely to see whether this signals a broader shift toward caution in the lead-up to the holiday shopping period.
The slowdown has amplified uncertainty around the Federal Reserve’s next move on interest rates, as policymakers weigh mixed economic signals against cooling demand. With some categories falling sharply, economists warn that faltering retail activity could ripple into GDP forecasts and overall market confidence.
Brad Gastwirth from Circular Technologies joins us to break down which categories were hit hardest, why shoppers are becoming more value-conscious, and what this means for the economy heading into 2025.
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xAI’s $15 billion raise, deadline pressure and Grokipedia launch
Elon Musk’s xAI plans $15 billion funding round, reaching $230 billion pre-money, amid fierce AI sector competition.
Elon Musk’s xAI plans $15 billion funding round, reaching $230 billion pre-money, amid fierce AI sector competition.
Elon Musk’s artificial intelligence startup xAI is preparing to close a huge $15 billion funding round next month, valuing the company at $230 billion pre-money. The raise highlights the intense investor appetite for advanced AI platforms as competition heats up across the sector.
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