News

Finding the Titanic-bound submarine – what we know

Published

2 years ago

June 20, 2023

Hundreds of search teams have swarmed an area over 1,400 km2 in search of the missing submarine, which was taking passengers to see the Titanic wreck.

Ships and planes from the United States and Canada are searching for a submarine that went missing off the coast of southeastern Canada while taking tourists to see Titanic wreckage.

A boat on the surface – the Polar Prince – lost contact with the submarine, the Titan, about one hour and 45 minutes after it began diving toward the Titanic wreckage.

Does the submarine have any passengers?

A pilot and four passengers were on board, and the vessel could be submerged for 96 hours, but it was unclear whether it was still underwater or had surfaced.

One of the passengers is British billionaire Hamish Harding, according to a relative’s post on social media.

Harding’s stepson asked for “thoughts and prayers” on Facebook after Mr Harding went missing on submarine.

A few days later, the stepson removed the post, citing respect for the privacy of the family.

Earlier this week, Mr Harding posted that he would be aboard the submarine on Facebook.

He has not posted since then.

In Harding’s post, he said the expedition left on Friday, and the first dive was scheduled for Sunday.

The submarine that went missing while taking people on tours to see the Titanic used a cheap Logitech controller and other off the shelf parts.

pic.twitter.com/b4K9YefdWQ

— Ian Miles Cheong (@stillgray) June 20, 2023

Harding holds three Guinness World Records: longest duration at full ocean depth for a crewed vessel, longest distance traversed at full ocean depth for a crewed vessel and fastest circumnavigation via both poles for an aeroplane.

In March 2021, Harding and ocean explorer Victor Vescovo performed two of these feats in a two-person deep-submergence vehicle in the Mariana Trench – the deepest point in the ocean.

He traveled to space last June with fellow billionaire Bill Gates

News

Trump’s “very productive” deal: What’s behind the U.S.-China agreement?

US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.

Published

16 hours ago

May 12, 2025

Ahron Young

US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.

The United States and China have reached a new agreement amid an intensifying trade war between the world’s two largest economies. This comes after US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held their first in-person talks since the imposition of heavy tariffs on both sides.

President Trump has described the discussions as “very productive,” signaling cautious optimism as financial markets remain volatile and American consumers feel the pinch of rising prices. Secretary Bessent addressed reporters after long negotiations, underlining the urgency both sides felt to de-escalate the stalemate.

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News

U.S. and China strike surprise trade deal

US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.

Published

16 hours ago

May 12, 2025

Ahron Young

US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.

In a stunning development amid rising tensions, the United States and China have agreed on a new deal as part of their ongoing trade war.

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held the first in-person meetings in years, signaling a potential thaw in relations.

President Trump called the talks “very productive.”

Meanwhile, the UK has managed to score key trade concessions from the US, including on autos, jet engines, and steel—although the benefits may be more symbolic than substantial. Could this deal impact Australia’s trade position?

We unpack the details with Professor Tim Harcourt, Chief Economist at UTS and host of The Airport Economist.

News

Inflation data, earnings reports, and market trends to watch

Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

Published

22 hours ago

May 12, 2025

Ahron Young

Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

In Short:
Inflation data will be a key focus this week, alongside trade meeting results and important earnings reports. Investors will monitor Fed Chair Jerome Powell’s remarks and various economic indicators, including retail sales and sentiment surveys.

Inflation data set for Tuesday is expected to be a focal point this week.

Investors will also assess the results of recent U.S. and Chinese trade meetings following a quiet Friday that saw stock declines for the week.

On Thursday, remarks from Fed Chair Jerome Powell will be closely monitored as he faces pressure from President Donald Trump regarding interest rate decisions.

Retail sales figures will also be released on Thursday, coinciding with Walmart’s earnings report.

Key earnings announcements this week include those from Cisco Systems, Alibaba Group, Deere & Co., Applied Materials, and Take-Two Interactive.

In addition, consumer and small business sentiment surveys, along with data from the homebuilding and manufacturing sectors, may also draw interest.