logo
Faster IPOs Under New ASX Trial Starting Monday

Faster IPOs Under New ASX Trial Starting Monday

Bloomberg8 hours ago

Good morning, if you had a long weekend, I hope you're well rested. Paul-Alain Hunt from the Melbourne bureau with you this morning with the key headlines.
Today's must-reads:
• ASIC to make IPO process faster
• Rio Tinto seeks smelter bailout
• Trump sends in Marines
As listings continue to fall on the ASX, the corporate watchdog has moved to cut the time it takes to float. An Australian Securities and Investments Commission trial starts Monday for initial public offerings to encourage more companies to go public.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Australia Names Wilkinson Treasury Head, First Woman in Role
Australia Names Wilkinson Treasury Head, First Woman in Role

Bloomberg

time37 minutes ago

  • Bloomberg

Australia Names Wilkinson Treasury Head, First Woman in Role

Australia's Prime Minister Anthony Albanese has named Jenny Wilkinson as the nation's new secretary to the Treasury, making her the first woman to hold the bureaucracy's top economic post. Wilkinson, currently head of the Department of Finance, will replace Steven Kennedy who will oversee the Department of Prime Minister and Cabinet after almost six years at Treasury. The two officials will take up their new roles with five-year terms on June 16.

‘Time to Take a Pause,' Says Investor About Nvidia Stock
‘Time to Take a Pause,' Says Investor About Nvidia Stock

Business Insider

timean hour ago

  • Business Insider

‘Time to Take a Pause,' Says Investor About Nvidia Stock

Nvidia (NASDAQ:NVDA) stock has roared back to life over the past two months, following a decidedly uncharacteristic drop earlier in the year. Shares have now climbed roughly 50% since hitting a post-Liberation Day low, driven by easing trade tensions, strong AI demand, and another impressive earnings report last month. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter That rebound comes despite several headwinds earlier in the year. The U.S.-China trade spat and fears of a broader pullback in AI-related capital expenditures had weighed heavily on investor sentiment. In particular, a targeted export restriction from the Trump administration on Nvidia's H20 GPUs resulted in a $4.5 billion hit during the last quarter. Still, it is hard to argue with Nvidia's stellar performance during Q1 Fiscal 2026, during which the company delivered record revenues of $44 billion, a year-over-year surge of 69%. The all-important data center segment grew at an even faster clip of 73%. While acknowledging the healthy earnings and NVDA's recovering share price, investor Johnny Zhang is not convinced that all the geopolitical hiccups are in the rearview mirror. 'I believe the 2H 2025 could bring more uncertainty, as the lagging effects of Trump's tariff policy and any setbacks on potential deals with China could create new volatility in the market,' explains the investor. Those concerns are not just theoretical. Zhang points to the unresolved H20 issue, stemming from U.S. export restrictions, as a key example. Nvidia is now expected to take an $8 billion inventory write-off as a result, and its margins are likely to decline further on a sequential basis. More broadly, the company has acknowledged it could forfeit access to a $50 billion total addressable market in China if those restrictions remain in place. Moreover, while Zhang believes that Nvidia will be able to navigate any economic slowdowns, the investor thinks there is a high possibility that the impact of the Trump tariffs will be felt during the latter part of the year. Against that backdrop, Zhang emphasizes that the recent rally in Nvidia's stock may not be sustainable without renewed visibility. He notes that further upside will hinge largely on AI spending trends in 2026, an outlook he calls 'highly uncertain.' In short, while Nvidia's fundamentals remain strong, its near-term growth path is anything but guaranteed. 'Chasing the stock's rally from here seems less compelling to me,' concludes Zhang, who gives NVDA a Hold (i.e. Neutral) rating. (To watch Zhang's track record, click here) Wall Street has a decidedly rosier view of NVDA. With 35 Buy, 4 Hold, and 1 Sell recommendations, NVDA continues to enjoy a Strong Buy consensus rating. Its 12-month average price target of $172.36 implies an upside north of 20%. (See )

Japanese frigate arrives in Australia as Tokyo bids for defense deal
Japanese frigate arrives in Australia as Tokyo bids for defense deal

Yahoo

timean hour ago

  • Yahoo

Japanese frigate arrives in Australia as Tokyo bids for defense deal

NEWCASTLE, Australia (AP) — A state-of-the-art Japanese warship has arrived in Australia as part of a high-stakes campaign to secure a $6.5 billion contract to build the country's next fleet of general-purpose frigates. The JS Yahagi, a Mogami-class stealth frigate from Japan's Maritime Self-Defense Force, is docked in Darwin in Australia's Northern Territory in what appears a symbolic and strategic move aimed at strengthening defense ties with Australia and showcasing Japanese naval technology. Japan's bid, led by Mitsubishi Heavy Industries, was short-listed in November for the Royal Australian Navy's SEA 3000 frigate project and is competing against Germany's MEKO A-200 offered by Thyssenkrupp Marine Systems. The Australian Government is expected to select a preferred design later this year, with construction for 11 new vessels slated to begin the following year. Japan would jointly develop and produce the frigates for the Australian navy. Bolstering defense industry As part of its military buildup, Japan is pushing to strengthen its largely domestic defense industry by participating in joint development, including a next-generation fighter jet with Britain and Italy, and promoting foreign sales like the Mogami-class ships. In a sign of its commitment and heavy investment Japan has pledged to prioritize the RAN's order over its own naval procurement. The project not only serves to further deepen cooperation between Japan and Australia but also to enhance Japan's warship capabilities, Defense Minister General Nakatani has said. The Japanese Mogami-class design boasts advanced combat systems, anti-submarine and anti-air warfare capabilities, and mine countermeasure operations — all operated by a lean crew of around 90, helping to address ongoing recruitment challenges in the Australian Navy. The vessel's commanding officer, Tamura Masayoshi, said the ship's smaller crew was an aim of the Mogami-class ship. 'The Japanese Maritime Self-Defense Force thought we need stealth, and less people, and a little bit smaller ship,' Masayoshi told the Australian Broadcasting Corporation. Closer military ties The JS Yahagi's visit to Darwin comes amid intensifying strategic cooperation between Canberra and Tokyo, both of which have emphasized the importance of maritime safety and security of sea lanes. The frigate's arrival is also seen as a gesture of Japan's growing role in regional security and its desire to align more closely with key partners like Australia. In September 2024, Australia and Japan agreed to increase joint military training exercises to address shared concerns of China's incursions into Japanese airspace and territorial waters. Two months later, defense ministers from Australia, Japan and the U.S. held tripartite talks in Darwin to reaffirm their commitment to strengthening security ties and planning for joint military operations in northern Australia. Japanese marine units are also now included in annual training rotations of U.S. Marines in Darwin. —— Mari Yamaguchi in Tokyo contributed.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store