The surprise 10pc jump giving investment bank analysts hope
Some fund managers have stopped using them for their numbers in day-to-day coverage and analysis – like Sydney's Aoris Investment Management – and we cannot remember the last time an investment bank boss talked about equities research as anything other than a cost centre.
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Perth Now
13-07-2025
- Perth Now
Aus prepared for Chinese spies at war games
Acting Defence Minister Pat Conroy says the Australian Defence Force is prepared for China to observe the major Talisman Sabre military exercises between the United States and Australia and would 'adjust accordingly'. While Mr Conroy said the most 'up-to-date information' was that Chinese surveillance vessels had not yet been spotted, he said it 'would be unusual' for that activity not the occur given Beijing have done so since 2017. The biennial war games involve more than 30,000 military personnel from Australia and the US, plus 19 partner nations including New Zealand, the UK, Japan, Papua New Guinea and France. The activities will run from Sunday to August 4 in locations across Queensland, Western Australia, NSW, the Northern Territory and for the first time since the games began in 2005, Papua New Guinea. 'People observe these exercises to collect intelligence around procedures, around the electronic spectrum and the use of communications, and we'll adjust accordingly so that we manage that leakage,' he said. Chinese spy ships were spotted at the last Talisman Sabre exercises in 2023. Supplied/ Defence Credit: Supplied Mr Conroy, who also holds the portfolio for defence industry and Pacific Island affairs, said the likely involvement of Chinese surveillance would also allow Australia and its allies to practice how to convey that information, and repeatedly stressed the ADF was ready. 'I think it'll be a two way process, but when we conduct these exercises, we're always cognisant that they're being observed by people who want to collect information about how we work with our allies, how we communicate with our allies and partners, and you manage that accordingly in a sensitive way,' he said. 'That's what the Australian people would expect our Australian Defence Force to do, and we'll continue to do that. 'But again, I'll say the Chinese military have observed these exercises since 2017 and it'd be very unusual if they didn't do that this time.' The question of China's presence at the significant war games comes as Anthony Albanese arrives in China for a six-day trip, in which he will need to balance Australia and China's $312bn economic trade relationship with recurrent geopolitical tensions. This comes after Chinese warships were spotted circumnavigating Australia's exclusive economic zone in late March, and an incident in February in which commercial Virgin pilots alerted Defence of the Chinese navy conducting live-fire drills in the Tasman Sea. Acting Defence Minister Pat Conroy said it would be 'unusual' for China not to spy on the Talisman Sabre events. NewsWire/ Martin Ollman Credit: News Corp Australia While Foreign Minister Penny Wong reportedly raised the security issue with her Chinese counterpart Wang Yi while in Malaysia on Friday, Mr Conroy would not confirm or deny whether the Prime Minister would do the same. However he said the government has repeatedly and publicly raised concern of China's 'very significant' military build up, and reiterated calls for more transparency around its actions. 'We've been very clear, both publicly and privately, that we thought that China should have provided more notice about its live firing exercise,' he said. 'We normally give 12 to 24 hours notice before a live firing exercise, they gave notice, but we regarded that as insufficient. We'll continue to articulate and raise that, both publicly and privately.' Mr Albanese touched down in Shanghai on Saturday evening and while the first leg of his trip will focus on promoting Australia's tourism links with China, he will meet with Chinese President Xi Jinping when he travels to Beijing.
Sydney Morning Herald
06-07-2025
- Sydney Morning Herald
‘Busiest winter ahead' as school holiday international travel soars
'This is shaping up to be our busiest winter ever for international travel, which demonstrates the resilience of the sector in the face of geopolitical tensions and cost pressures,' said Sydney Airport chief Scott Charlton. 'More Australians are taking advantage of new destinations and extra capacity, and that's reflected in the numbers we're seeing through the terminal.' Closer to home, Qantas, Air New Zealand and Virgin have increased flights to vacation hotspot Queenstown in New Zealand from Sydney and Brisbane, even as Jetstar cuts back some weekly services from Melbourne. 'This may signify that the low-cost market served by Jetstar is moving into more full-service carrier territory,' Taylor said. Capacity to some of Australia's nearby international holiday destinations such as Bali and Fiji appears steady year-on-year, Taylor said, despite changes in the airlines delivering services. A Perth-Bali route operated by Indonesian low-cost carrier Citilink has exited the market while TransNusa, another Indonesian airline, has entered the Australian market for the first time. 'Broadly, it seems that Jetstar and Virgin are operating at similar levels to what they were last year,' Taylor said. Sydney and Melbourne are expected to each welcome about 2 million passengers over a two-week period. Loading Melbourne Airport is expected to serve 1.92 million passengers from July 4 to July 21, while Sydney Airport is predicting 2.6 million through its gates from June 30 to July 20. Melbourne foresees 647,927 international and 1.28 million domestic passengers, a 5 per cent increase on the previous year. 'The airport will welcome an AFL grand final crowd every day of the holidays, with a daily average of 107,000 passengers,' Melbourne Airport said in a statement. In welcome news for Melbourne travellers, the same body scanners and CT X-ray technology machines are in place across all terminals, so passengers no longer need to remove laptops, tablets or aerosols from bags as they go through security. At Sydney's T1 International terminal and T3 Domestic terminal, laptops and aerosols can stay in hand luggage scanned at security lines. In T2 Domestic, passengers still need to remove laptops and aerosols from their hand luggage. Loading Sydney is trying to accelerate the rollout of the troubled SmartGates to speed the entry of passengers arriving in the country, but most inbound passengers still take more than half an hour to clear immigration. Sydney Airport advises passengers to arrive one hour before a domestic flight, if carrying hand luggage only, two hours, if checking in bags, and a full three hours for international flights. Brisbane Airport, meanwhile, is tipping a 'record-breaking winter travel season'. Compared with last year, Brisbane expects 1.4 per cent growth in domestic terminal use over a 39-day period from June 13 to July 21 (comprising school holidays in Queensland, NSW, Victoria and New Zealand). In a sign of a widening market for overseas travel, international terminal use is expected to surge 18.4 per cent over the previous corresponding period as more international carriers pile into Brisbane. In mid-June, Singapore Airlines flights to Brisbane increased from 25 to 28 services a week. Last year, Cathay Pacific increased services from Brisbane to global hub Hong Kong from six to 10 flights a week. But the short-term snapshot of bookings shows some unevenness. For bookings made for July travel, trips booked to New York area airports have fallen 11 per cent for JFK Airport and 23 per cent for Newark. Taylor said the decline to those destinations is 'broadly lower' but 'may reflect that fewer Australians are taking the long trek there amid the lower currency'. After falling to US59.9¢ in April on US tariff threats, the Australian dollar has more recently traded at about US65.5¢.
The Age
06-07-2025
- The Age
‘Busiest winter ahead' as school holiday international travel soars
'This is shaping up to be our busiest winter ever for international travel, which demonstrates the resilience of the sector in the face of geopolitical tensions and cost pressures,' said Sydney Airport chief Scott Charlton. 'More Australians are taking advantage of new destinations and extra capacity, and that's reflected in the numbers we're seeing through the terminal.' Closer to home, Qantas, Air New Zealand and Virgin have increased flights to vacation hotspot Queenstown in New Zealand from Sydney and Brisbane, even as Jetstar cuts back some weekly services from Melbourne. 'This may signify that the low-cost market served by Jetstar is moving into more full-service carrier territory,' Taylor said. Capacity to some of Australia's nearby international holiday destinations such as Bali and Fiji appears steady year-on-year, Taylor said, despite changes in the airlines delivering services. A Perth-Bali route operated by Indonesian low-cost carrier Citilink has exited the market while TransNusa, another Indonesian airline, has entered the Australian market for the first time. 'Broadly, it seems that Jetstar and Virgin are operating at similar levels to what they were last year,' Taylor said. Sydney and Melbourne are expected to each welcome about 2 million passengers over a two-week period. Loading Melbourne Airport is expected to serve 1.92 million passengers from July 4 to July 21, while Sydney Airport is predicting 2.6 million through its gates from June 30 to July 20. Melbourne foresees 647,927 international and 1.28 million domestic passengers, a 5 per cent increase on the previous year. 'The airport will welcome an AFL grand final crowd every day of the holidays, with a daily average of 107,000 passengers,' Melbourne Airport said in a statement. In welcome news for Melbourne travellers, the same body scanners and CT X-ray technology machines are in place across all terminals, so passengers no longer need to remove laptops, tablets or aerosols from bags as they go through security. At Sydney's T1 International terminal and T3 Domestic terminal, laptops and aerosols can stay in hand luggage scanned at security lines. In T2 Domestic, passengers still need to remove laptops and aerosols from their hand luggage. Loading Sydney is trying to accelerate the rollout of the troubled SmartGates to speed the entry of passengers arriving in the country, but most inbound passengers still take more than half an hour to clear immigration. Sydney Airport advises passengers to arrive one hour before a domestic flight, if carrying hand luggage only, two hours, if checking in bags, and a full three hours for international flights. Brisbane Airport, meanwhile, is tipping a 'record-breaking winter travel season'. Compared with last year, Brisbane expects 1.4 per cent growth in domestic terminal use over a 39-day period from June 13 to July 21 (comprising school holidays in Queensland, NSW, Victoria and New Zealand). In a sign of a widening market for overseas travel, international terminal use is expected to surge 18.4 per cent over the previous corresponding period as more international carriers pile into Brisbane. In mid-June, Singapore Airlines flights to Brisbane increased from 25 to 28 services a week. Last year, Cathay Pacific increased services from Brisbane to global hub Hong Kong from six to 10 flights a week. But the short-term snapshot of bookings shows some unevenness. For bookings made for July travel, trips booked to New York area airports have fallen 11 per cent for JFK Airport and 23 per cent for Newark. Taylor said the decline to those destinations is 'broadly lower' but 'may reflect that fewer Australians are taking the long trek there amid the lower currency'. After falling to US59.9¢ in April on US tariff threats, the Australian dollar has more recently traded at about US65.5¢.
