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Yahoo
24 minutes ago
- Yahoo
More results needed from PM's China trip: Liberals
Voters should have expected more tangible outcomes from the prime minister's trip to China, the opposition says. But a senior government minister said the six-day visit by Anthony Albanese had helped to stabilise the relationship with Australia's largest trading partner. The prime minister landed in Australia on Friday after visiting Shanghai, Beijing and Chengdu during the official visit, which included a one-on-one meeting with Chinese President Xi Jinping. While Mr Albanese said the visit would strengthen ties between the two countries, deputy opposition leader Ted O'Brien said the trip should have been complemented with visits to nearby Asian allies. "When you have six days in a country, I think it is fair for the Australian people to expect more from it," he told Sky News on Sunday. "By spending six days there, not going to Japan, not going to South Korea, I think it has accentuated the problem we have with an imbalanced foreign policy." But Attorney-General Michelle Rowland said criticism of the prime ministerial visit was "extraordinary", given work was needed to be done to repair ties with China after trade sanctions on Australian exports were lifted. "China is our single biggest trading partner. Our resources sector relies on that relationship," she told Sky News. "We will always act in the national interest, and often we will disagree, but this is important from the perspective of our trade and of stabilising that relationship, which, quite frankly, had broken down." China imposed an estimated $20 billion worth of trade impediments against Australian products such as wine, lobster and beef following a breakdown in ties between the two countries at the start of the COVID pandemic. Access to the Chinese market has recently opened up to large numbers of exports. "This is about creating jobs and extra trade opportunities for Australia, and it's important that we maintain this vital relationship," Ms Rowland said. Mr O'Brien said while he was not criticising the prime minister for going overseas on the foreign visit, the outcomes did not meet expectations. "We are supportive of economic diplomacy. It's absolutely key, but Australia deserves nothing less than tangible outcomes, especially when you spend a week in country," he said.
Yahoo
24 minutes ago
- Yahoo
'What Worked for You 5 Or 10 Years Ago May Not Be The Right Strategy': Suze Orman Warns Retirees To Rebalance While Markets Are Up
After a volatile start to the year, the stock market has rebounded — offering investors, especially retirees, a valuable chance to reassess their portfolios. Financial expert Suze Orman is encouraging older Americans to use this moment of market recovery as an opportunity to adjust their investment strategies. Market Recovery Offers a Second Chance Orman shared that in the first few months of 2025, the S&P 500 dropped more than 15%, and the Nasdaq 100 saw losses close to 20%. But by late June, both indexes had not only bounced back — they posted gains for the year. This quick turnaround, she says, is a rare window for reflection and course correction. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab $100k+ in investable assets? – no cost, no obligation. "If you were anxious during the market sell-off in the first half of the year, now is a good time to think through whether it is indeed time to reduce your overall allocation to stocks," Orman wrote in a recent blog post Your Strategy May Need an Update Orman points out that the same investment strategy that worked in your 40s or early 50s might not serve you well in your 60s or 70s. While she says that stocks still have a place in retirement portfolios — particularly to help outpace inflation — she advises against holding an overly aggressive position. Someone who once had 80% of their portfolio in stocks may now want to take a more balanced approach. "Each of us has to know what will work for us," Orman wrote. That includes reevaluating your risk tolerance as you age and your income needs shift. Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Build a Cash Cushion for Stability One of Orman's key pieces of advice for retirees is to maintain a solid cash reserve. She recommends setting aside at least two to three years' worth of living expenses in cash — not including your emergency savings. This buffer allows retirees to avoid dipping into stock investments during downturns, helping to preserve long-term growth while providing peace of mind. If you don't currently have that cushion, Orman suggests that now — while markets are up — may be a smart time to build it. "Being able to cover your living costs without touching stocks when they are how you sleep soundly in retirement," she explains. Prepare for Ongoing Volatility Although the market has shown resilience so far this year, Orman cautions that more turbulence may lie ahead. Factors like global trade uncertainty and shifts in the job market due to artificial intelligence could continue to shake investor she says the long-term case for stocks remains strong. The key is having the right mix of investments to reflect both your risk tolerance and your retirement timeline. Time to Rebalance? If the recent market rally has you feeling relieved but uncertain, now may be the perfect time to rebalance your portfolio. Whether that means reducing your stock exposure, increasing your cash reserves, or simply reviewing your asset mix, Orman's message is clear: your financial strategy should evolve with your life. "Recalibrating your overall investments in stocks to match your risk tolerance and your needs is smart prep work for whatever lies ahead," she says. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'What Worked for You 5 Or 10 Years Ago May Not Be The Right Strategy': Suze Orman Warns Retirees To Rebalance While Markets Are Up originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
New York Post
25 minutes ago
- New York Post
New Jersey pols lambast Trump admin plan to use military base to house migrant detainees
The Trump administration is planning to use a New Jersey military base to house immigrant detainees in a move that is drawing ire from Democratic Garden State lawmakers. Portions of Joint Base McGuire-Dix-Lakehurst in Burlington County will be used as 'temporary soft-sided holding facilities,' the Department of Defense told Fox News. 3 Afghan migrants at the facilities of McGuire-Dix-Lakehurst in 2021. Getty Images Advertisement Secretary of Defense Pete Hegseth said that the housing of illegal aliens 'will not negatively affect military training, operations readiness, or other military requirements, according to a letter addressed to Democratic Representative Herb Conway. The decision was blasted by national lawmakers from New Jersey who issued a joint statement excoriating the Trump administration for its alleged loose use of military resources. 'This is an inappropriate use of our national defense system and militarizes a radical immigration policy that has resulted in the inhumane treatment of undocumented immigrants and unlawful deportation of U.S. citizens, including children, across the country,' the joint statement read. Advertisement 3 Secretary of Defense Pete Hegseth announced the plans on Tuesday. AP 'Using our country's military to detain and hold undocumented immigrants jeopardizes military preparedness and paves the way for ICE immigration raids in every New Jersey community,' the statement said. 'We have the greatest military in the world and using it as a domestic political tool is unacceptable and shameful.' The statement was signed by Reps. Conway, LaMonica McIver, Donald Norcross, Rob Menendez, Frank Pallone, Bonnie Watson Coleman, Josh Gottheimer and Nellie Pou as well as Senators Cory Booker and Andy Kim — all of whom are Democrats. Advertisement 3 New Jersey Democrats, including Sen. Cory Booker, called out the Trump administration for using military resources for 'political' purposes. AP Defense Secretary Pete Hegseth also announced that parts of Indiana's Camp Atterbury will be converted into migrant facilities. It is unclear when the two sites will be up and running, Fox News reported citing the Defense Department. Uproar over migrant housing in the Garden State hit a crescendo earlier this year when raucous protests at Newark's Delaney Hall resulted in federal charges against Rep. LaMonica McIver. Advertisement The rep pleaded not guilty to federal charges of assault and impeding and interfering with law enforcement last month. Joint Base McGuire-Dix-Lakehurst spans 42,000 acres, is home to 45,000 military and civilian personnel, and is one of the only bases in the country to be operated by the US Air Force, Army, and Navy. The base was previously used to house thousands of Afghan refugees following the US withdrawal from Afghanistan in 2021.
