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The first of 16 new F-16 fighter jets from the US land in Bulgaria

The first of 16 new F-16 fighter jets from the US land in Bulgaria

SOFIA, Bulgaria (AP) — Bulgaria received on Wednesday the first of 16 new F-16 military jets from the United States that the Balkan country needs to upgrade its defense and bring its air force in line with NATO standards.
Prime Minister Rosen Zhelyazkov hailed the arrival of the first jet at the Graf Ignatievo air base in central Bulgaria.
'This is not just a fighter jet, but a symbol and embodiment of Bulgaria's strategic partnership with the United States … a partnership that offers a new perspective for the Bulgarian Army,' the prime minister said.
Bulgaria contracted to buy eight multi-role F-16 Block 70 aircraft in July 2019 for $1.3 billion. Plans initially called for the first planes to arrive in Bulgaria in 2023, but the coronavirus pandemic delayed their delivery.
In 2022, the Bulgarian government signed a contract with American aerospace company Lockheed Martin for a second batch of another eight of the F-16 fighter jets by the end of 2027.
Bulgaria, which joined NATO in 2004, has for two decades sought to update its military's air fleet of aging Soviet-made MiG-29 jets, but financial problems forced repeated postponements.
Amid Russia's ongoing war on Ukraine, Bulgaria has been relying on assistance from other NATO countries to fulfill its air policing obligations as an alliance member.
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South Korea's Lee must navigate the ‘Trump risk' at key summits in Japan and US
South Korea's Lee must navigate the ‘Trump risk' at key summits in Japan and US

San Francisco Chronicle​

time25 minutes ago

  • San Francisco Chronicle​

South Korea's Lee must navigate the ‘Trump risk' at key summits in Japan and US

SEOUL, South Korea (AP) — South Korea's President Lee Jae Myung faces a pivotal foreign policy test barely two months after taking office, with back-to-back summits in Tokyo and Washington that reflect the wider struggle of U.S. allies to navigate Donald Trump's unilateral push to redefine postwar orders on trade, security and alliances. The meetings come after Seoul and Tokyo reached trade deals with Washington that spared them from the Trump administration's highest tariffs, but only after pledging hundreds of billions of dollars in new U.S. investments. Trump's transactional approach with long-standing allies extends beyond trade to security and has fueled fears in South Korea that he will demand higher payments to support the U.S. troop presence in the country, even as he possibly seeks to scale back America's military footprint there to focus on China. The looming concerns about a U.S. retreat in leadership and security commitments come as South Korea and Japan confront growing cooperation between their nuclear-armed adversaries, North Korea and Russia, partners in the war in Ukraine and in efforts to break isolation and evade sanctions. Here is what is at stake for the Asian allies of the U.S. as they deal with an America-first president who's more unyielding than his predecessors: Asian allies pulled closer by Trump A day after confirming his Aug. 25 summit with Trump, Lee's office announced he will visit Japan on Aug. 23-24 to meet Prime Minister Shigeru Ishiba, a rare diplomatic setup that underscores how Trump is drawing closer two often-feuding neighbors with deep-rooted historical grievances. The meeting on Saturday in Tokyo of Lee and Ishiba — who last met on the sidelines of the Group of Seven summit in June — is largely about projecting leverage as the countries seek to coordinate their response to Trump, said Choi Eunmi, an analyst at South Korea's Asan Institute for Policy Studies. 'There is now the Trump risk,' Choi said. 'There's especially a lot of uncertainty in the business sector, so they might discuss ways to ease that uncertainty … not necessarily in joint efforts to confront Trump, but within the framework of trilateral cooperation.' Yukiko Fukagawa, a professor at Japan's Waseda University, said Lee's visit to Tokyo will also be seen positively in Washington, long frustrated by its Asian allies' persistent disputes over Japan's colonial rule of Korea before the end of World War II, and the way these tensions hindered three-way security collaborations. 'Because they have to deal with increasingly challenging mutual counterparts, such as China and America, both Japan and South Korea are under pressure to set aside minor differences to cooperate on larger objectives,' Fukagawa said. Yoshimasa Hayash, Japan's chief cabinet secretary, said Lee's visit will help promote the 'stable development' of bilateral ties as their countries work together on international challenges by utilizing the 'shuttle diplomacy" of regular summits. Lee and Ishiba could discuss restarting long-stalled free trade talks and South Korea's potential entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, a 12-member Asia-Pacific trade pact that Ishiba has pushed to expand amid tensions over U.S. tariffs. Ishiba, who has met Trump twice in person — at the White House in February and at the G7 in Canada — could also offer Lee tips ahead of his summit in Washington. Seoul and Tokyo clearly share many crucial interests in the face of Trump's efforts to reset global trade and U.S. security commitments. They are both under pressure from Washington to pay more for the tens of thousands of American troops stationed in their countries and also to increase their own defense spending. Their vital automobile and technology industries are vulnerable to Trump's tariff hikes. They navigate a tricky balance between the U.S. and its main rival, China, a growing regional threat that is also the largest trade partner for Seoul and Tokyo. They are alarmed by North Korea's accelerating nuclear program and its deepening alignment with Russia, which could complicate future diplomatic efforts after a long stalemate in U.S.-led denuclearization talks. It makes more sense for South Korea and Japan to work with the Trump administration under a trilateral framework rather than engage Washington separately, especially given how Trump mixes security and economic demands, said Ban Kil-joo, a professor at South Korea's National Diplomatic Academy. For example, the countries could propose a trilateral scheme to support Trump's push to expand natural gas and other energy production in Alaska, rather than negotiating potential investments bilaterally, he said. 'Beyond the drilling project itself, they would need to address security, including protecting maritime routes for the LNG shipments, and that responsibility could count toward defense cost-sharing or higher defense spending,' which Trump demands, Ban said. Modernizing the military alliance Lee's meeting with Trump could include talks to flesh out the details of South Korea's $350 million investment fund for U.S. industries, centered on cooperation in shipbuilding, a sector Trump has highlighted in relation to South Korea. A more crucial topic for the leaders could be the future of their decades-long military alliance, a legacy of the brutal 1950-53 Korean War. The U.S., which keeps about 30,000 troops in South Korea to deter North Korea, has long urged Seoul to accept greater flexibility to use them for missions beyond the Korean Peninsula – a demand that has intensified under Trump. Comments by senior U.S. government and military officials suggest that, in addition to pressing South Korea to pay more for hosting American forces, the Trump administration could seek to reshape U.S. Forces Korea as part of a broader military focus on ensuring capability to respond to a conflict with China over Taiwan. That shift would mean conventionally armed South Korea taking on more of the burden against the North, while the U.S. turns its focus to China. This could affect the size and role of U.S. Forces Korea, leaving Seoul with fewer benefits but higher costs and risks at a time when the North Korean nuclear threat is growing, experts say. South Korean lawmakers have also expressed fears that Washington could ask for Seoul's commitment to intervene if a conflict breaks out in the Taiwan Strait, a tricky prospect given South Korea's reliance on China for trade and Beijing's role in dealing with North Korea. South Korea should enter the Trump summit with a clear stance on its role in regional security, Ban said, possibly supporting U.S. efforts to maintain Indo-Pacific stability and opposing changes to the status quo, but without explicitly naming China as an adversary. While potentially accepting a more flexible role for U.S. Forces Korea, South Korea should also seek U.S. commitments to ensure deterrence and readiness against North Korea aren't compromised. American troop deployments off the peninsula could be offset by increased airpower or the arrival of strategic assets like bombers, helping prevent any miscalculation by the North, Ban said. AP writer Mari Yamaguchi in Tokyo contributed.

‘He's trying to rig the election.' Newsom bashes Trump as redistricting campaign kicks off
‘He's trying to rig the election.' Newsom bashes Trump as redistricting campaign kicks off

Los Angeles Times

time25 minutes ago

  • Los Angeles Times

‘He's trying to rig the election.' Newsom bashes Trump as redistricting campaign kicks off

SACRAMENTO — Moments after California lawmakers passed a plan designed to undercut attempts by the president and fellow Republicans to keep control of Congress, Gov. Gavin Newsom said the state's proposed partisan redistricting that favors Democrats is a necessary counterweight to President Trump's threat to American democracy. Trump's assault on vote by mail and decision to send the military into U.S. cities are evidence of his authoritarian policies, and California must do its part to keep him in check, Newsom said. By deploying federal immigration agents in roving street raids and activating thousands of members of the National Guard in Los Angeles and Washington, D.C., Newsom said, Trump is amassing 'a private army for Donald Trump.' 'He's trying to rig the election, he's trying to set up the conditions where he can claim that the elections were not won fair and square,' Newsom said. 'Open your eyes to what is going on in the United States of America in 2025.' The argument is a preview of the messaging for the ballot measure campaign that Newsom and his Democratic Party allies will be running over the next 74 days. On Thursday, California lawmakers signed off on a Nov. 4 special election that will put partisan redistricting in front of California voters. The ballot measure, called Proposition 50, will ask voters to discard the congressional boundaries drawn by the state's independent redistricting commission in 2021 in favor of partisan districts that could boot as many as five California Republicans out of Congress. 'When all things are equal, and we're all playing by the same set of rules,' Newsom said, 'there's no question that the Republican Party will be the minority party in the House of Representatives next year.' California is 'responding to what occurred in Texas, we're neutralizing what occurred, and we're giving the American people a fair chance,' Newsom said. National Republican Congressional Committee Chair Rep. Richard Hudson of North Carolina accused Newsom of trying to 'rig' the system to advance his own political career. 'Instead of fixing the homelessness, crime, drug, and cost crises crushing the Golden State, Gavin Newsom is tearing up California's Constitution to advance his presidential ambitions,' Hudson said in a statement. California's new lines would neutralize efforts in Texas to redraw their congressional district maps to help elect five more GOP candidates in 2026. The Texas Legislature is expected to approve new district lines this week. The other option, Newsom said, is for California and Democrats to 'roll over and do nothing.' 'I think people all across the country are going to campaign here in California for this,' Newsom said. 'They recognize what's at stake. It's not just about the state of California. It's about the United States of America. It's about rigging the election. It's about completely gutting the rules.' Times staff writer Seema Mehta contributed to this report.

Alpina Holdings' (Catalist:ZXY) Earnings May Just Be The Starting Point
Alpina Holdings' (Catalist:ZXY) Earnings May Just Be The Starting Point

Yahoo

timean hour ago

  • Yahoo

Alpina Holdings' (Catalist:ZXY) Earnings May Just Be The Starting Point

Even though Alpina Holdings Limited's (Catalist:ZXY) recent earnings release was robust, the market didn't seem to notice. We think that investors have missed some encouraging factors underlying the profit figures. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A Closer Look At Alpina Holdings' Earnings One key financial ratio used to measure how well a company converts its profit to free cash flow (FCF) is the accrual ratio. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'. As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. That is not intended to imply we should worry about a positive accrual ratio, but it's worth noting where the accrual ratio is rather high. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth. Alpina Holdings has an accrual ratio of -0.14 for the year to June 2025. That implies it has very good cash conversion, and that its earnings in the last year actually significantly understate its free cash flow. To wit, it produced free cash flow of S$11m during the period, dwarfing its reported profit of S$4.29m. Given that Alpina Holdings had negative free cash flow in the prior corresponding period, the trailing twelve month resul of S$11m would seem to be a step in the right direction. Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Alpina Holdings. Our Take On Alpina Holdings' Profit Performance As we discussed above, Alpina Holdings has perfectly satisfactory free cash flow relative to profit. Because of this, we think Alpina Holdings' earnings potential is at least as good as it seems, and maybe even better! Furthermore, it has done a great job growing EPS over the last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. If you want to do dive deeper into Alpina Holdings, you'd also look into what risks it is currently facing. When we did our research, we found 3 warning signs for Alpina Holdings (1 is significant!) that we believe deserve your full attention. Today we've zoomed in on a single data point to better understand the nature of Alpina Holdings' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data

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