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Next-gen partnership: Australia, U.S and UK enter nuclear defence alliance

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Australia, the United Kingdom and the United States are teaming up in a “next-generation defence partnership” deemed AUKUS, as tensions between western nations and China heat up

The deal will see the three countries share secret nuclear technology and also assist Australia as it switches to a nuclear-powered submarine fleet.

Australian Prime Minister Scott Morrison says “our world is becoming more complex, especially in the Indo-Pacific”

Morrison says his country is opening up a new friendship in its relations with the US and Britain, as he secures a brand new nuclear submarine fleet

This follows Morrison holding a National Security Committee of Cabinet in Canberra on Wednesday. 

Australia will use both US and British technology to replace its existing Collins class fleet, as the international strategic environment heats up.

The alliance deal will also see an increased presence of American nuclear subs in the region, with a focus on aligning technology and regional challenges.

The working group will ensure that the countries can share information regarding long-range strike capabilities, artificial intelligence and underwater systems… in an attempt to counteract the increasing dominance of China.

Biden says it’s time to face the threats of the twenty-first century and has faith that the AUKUS alliance will allow this.

Allied naval presence is expected to increase dramatically… particularly throughout the hotly contested South China Sea.

It comes as Australia’s Defence Minister Peter Dutton and Foreign Minister Marise Payne touch down in Washington for a series of talks over the next two days.

Meanwhile, UK Prime Minister Boris Johnson says this project will set the standard for global relations moving forward, being the most complex partnership the world has ever seen.

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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Tesla’s robotaxi reveal sparks excitement

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Analysts and investors are eagerly awaiting Elon Musk’s big reveal—a fully functional autonomous vehicle that could revolutionise ride-hailing.

Tesla’s stock has soared 52% since Musk first announced the event in April, reflecting high hopes for the launch of its much-anticipated robotaxi.

The vehicle, dubbed the “Cybercab,” is said to be a sleek, two-seater without a steering wheel or pedals—straight out of the future.

Tesla also teased a ride-hailing app that will summon these driverless cars to pick up riders at their chosen locations.

Not convincing

But not everyone is convinced—some analysts warn that while Musk’s vision is bold, the timeline for these innovations may not deliver immediate results.

Musk has a history of overpromising on autonomous tech, and this event might be more about grand ideas than tangible products.

Tesla first floated the robotaxi idea in 2016, with Musk hinting at a future where owners could lease their cars to others for extra income.

If the software keeps pace with Musk’s ambitions, the future of driverless Teslas might be closer than we think.

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Inflation creeps up as core CPI rises in September

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The core consumer price index (CPI) climbed 3.3% year-over-year in September, signalling continued inflationary pressure in the U.S.

 

Month-over-month, the increase was 0.3%, slightly higher than the expected 0.2%, raising concerns about the Federal Reserve’s ability to ease policy.

This latest inflation data narrows the Fed’s room to manoeuvre, making a significant rate cut at their next meeting less likely.

In other economic news, weekly U.S. unemployment claims have risen to 258,000.

Latest numbers

Ticker’s Ahron Young spoke with Steve Gopalan from SkandaFX about the latest numbers.

Steve Gopalan discusses the impact of rising unemployment claims, inflation, and geopolitical tensions on the market, including the potential effects of Israeli strikes on Iran and China’s policies.

He also addresses expectations for the Fed reserve rate cut and near-term risks affecting the Australian economy and talks about how traders are preparing for China’s Finance Minister news conference on fiscal policy.

The increase in claims is partly attributed to the impact of Hurricane Helene and furloughs at Boeing.

Economists are closely watching how these factors will play into broader economic trends.

With inflation rising and unemployment numbers fluctuating, the economic outlook remains uncertain.

 

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Middle East tensions rise as Iran issues warnings

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Tehran is threatening to target oil-rich Gulf states and other U.S. allies if their territories are used in any attack on Iran, Arab officials reveal.

Israel has warned Tehran of severe consequences after a recent barrage of Iranian ballistic missiles hit the country. In response, Iran vows to strike Israel’s civilian infrastructure and any Arab state that aids in the assault.

Countries like Jordan, the UAE, Saudi Arabia, and Qatar have already expressed concerns to the Biden administration, saying they don’t want to be part of any offensive actions against Iran.

These Gulf states, traditionally under U.S. protection, fear Iran could target their vital oil facilities if the conflict escalates.

With U.S. troops stationed across the region, officials are on high alert as Tehran’s threats loom over an area packed with American military personnel.

Tensions between Israel and Iran continue to rise, with both sides exchanging warnings of devastating consequences.

The energy-rich Persian Gulf, known for its stability under U.S. protection, could now be at risk as the situation remains tense.

The eyes of the world are focused on the region, as threats of conflict keep mounting.

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