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The Reserve Bank of Australia (RBA) has raised concerns about the global economic risks stemming from elevated US tariffs, which may lead to reduced investment, output, and employment. Interestingly, these tariffs could lower inflation in Australia by increasing the influx of cheaper goods, creating a complex policy challenge for the central bank. Historical data indicates that Australia is particularly vulnerable to trade tensions, with past conflicts resulting in significant job losses and economic contraction, prompting the RBA to adopt a cautious approach in its monetary policy.
Monash University is set to launch Maveric, Australia’s first AI supercomputer, in 2026 with a $60 million investment aimed at enhancing research in health, medicine, and climate science. This initiative is part of Australia’s strategy to close the supercomputing gap with global leaders, addressing the need for improved AI capabilities and infrastructure. The project follows a history of significant investments in supercomputing, reflecting a commitment to bolster national research and economic diversification through advanced computational resources.
Melbourne-based biotech firm PolyActiva has secured AU$40 million (US$26.4 million) in a series C funding round to advance its biodegradable glaucoma treatment and bolster local manufacturing. The investment includes AU$27 million from Australia’s National Reconstruction Fund and AU$13 million from Brandon Capital, supporting ongoing phase 2B clinical trials and consolidating operations in Melbourne. With glaucoma affecting over 70 million people globally, PolyActiva's innovative implant aims to improve medication adherence, addressing a critical need in long-term treatment management.
In April, Japan imported 27.10 million barrels of Saudi oil, accounting for 36.3% of its total crude imports of 74.77 million barrels. The Arab nations contributed significantly, with the UAE supplying 34 million barrels, while Japan's imports from Iran and Russia remain banned, leading to sourcing from the USA and other countries.
Foxconn Technology Group anticipates significant revenue growth in its AI and electric vehicle (EV) sectors by 2028, driven by rising demand for AI applications and strategic partnerships, including one with Mitsubishi Motors. The company employs a modular manufacturing approach to reduce costs and development time, aiming for substantial market share in the EV industry. Despite geopolitical challenges, Foxconn's diversified operations and contract manufacturing model provide resilience, as evidenced by a 91% profit increase in Q1 2025, largely from its AI server business.
Foxconn is set to announce a partnership with a second Japanese automaker, following a recent agreement with Mitsubishi Motors to supply a new electric vehicle model. This move aligns with Foxconn's strategy to leverage its electronics manufacturing expertise in the growing EV market, aiming to embed its technology in 5% of global electric vehicles by 2025. The collaboration offers mutual benefits, enhancing manufacturing efficiency for Japanese automakers while providing Foxconn with automotive credibility and technical knowledge.
Kamala Harris, speaking at the 2025 Australian Real Estate Conference, criticized Elon Musk without naming him, emphasizing the importance of empathy and historical awareness, particularly regarding the 1930s. She expressed concerns about AI's impact on jobs and misinformation, urging the need for innovation that protects vulnerable populations. Harris shared personal anecdotes about overcoming challenges in her career, encouraging ambition among attendees.
Elon Musk has declared a return to a "24/7" work schedule across his companies following a significant outage at his social media platform, X, which affected users globally. This shift comes as he aims to focus on X, xAI, and Tesla, while scaling back his involvement with Dogecoin to just a couple of days a week. Amid rising investor concerns and operational challenges, Musk also plans to reduce political donations, responding to backlash that has impacted Tesla's performance.
TJX Companies, an off-price apparel and home fashions retailer, saw its stock sold at an average price of $123.53, totaling $988,240. Institutional investors own 91.09% of the company, with analysts raising the price target to $147.00, indicating a potential upside. The company reported a quarterly revenue of $13.11 billion, surpassing estimates, and earnings per share of $0.92.
AUS
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Australia's central bank warns of global economic risks from US tariffs
09:00 03.06.2025
Australia imposes limits on crypto ATMs amid rising scam concerns
Australia to unveil first AI supercomputer Maveric to boost research capabilities
03:50 03.06.2025
PolyActiva secures 26.4 million dollars to advance glaucoma treatment and manufacturing
01:50 02.06.2025
Japan's April oil imports heavily reliant on Saudi and UAE supplies
20:00 30.05.2025
Foxconn anticipates significant growth in AI and electric vehicle sectors by 2028
07:45 30.05.2025
Foxconn to announce new electric vehicle partnership with Japanese automaker
03:40 30.05.2025
Kamala Harris Critiques Elon Musk and Warns of Historical Lessons at Conference
07:41 25.05.2025
Elon Musk Shifts Focus to Work After Major X Outage and DOGE Cutback
21:16 24.05.2025
TJX Companies Stock Insights and Recent Analyst Ratings Update
17:46 24.05.2025
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