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China-Australia Mining Partnership Fuels Economic Growth Amid Global Energy Transition

Shreya Gupta
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SYDNEY, July 9 (Xinhua) — The Chinese market and investment will continue to provide growth momentum as Australia is determined to revitalize its industrial manufacturing amid the ongoing global energy transition, executives in the country’s mining industry told Xinhua.

In the past two decades, China’s imports of and investment in Australia’s mineral resources have further promoted the development and prosperity of the two countries, fully demonstrating the win-win situation of practical cooperation between the sides.

Chinese investment has been incredibly important to Australia’s resources industry, and China remains a really important market for both traditional and established minerals like iron ore and critical minerals, said Warren Pearce, chief executive officer of the Association of Mining and Exploration Companies.

In the last 15 years, it’s been China’s investment that helped us turn on major new projects, Pearce said. We’ve been a major beneficiary of that investment, and it has really helped Australia’s prosperity.

It’s important we actually continue that good trading relationship that’s been mutually beneficial for both countries, he said.

Rio Tinto’s chief executive Jakob Stausholm said China has been a critical partner for Australia’s mining industry for decades and there is a long history of mutually beneficial partnerships between both countries.

China is a driving force for the global economy, and the world’s top metals’ consumer, Stausholm said. China’s strong demand for high-quality minerals such as iron ore and copper has generated substantial opportunities for investment and trade, and has helped to power Australia’s economy.

Today, China is our largest market and home to our biggest stakeholder. With China’s strong determination to further open up, it will continue to be a pillar for Rio Tinto’s long-term success, he said.

Dino Otranto, chief executive officer of Fortescue Metals, praised China as an exceptional partner for Australia, and the state of Western Australia in particular.

Most of the mining industry here can thank China’s support over many years, going back more than 50 years. In my home state here, Western Australia, China has been there from the start, Otranto said. We really couldn’t be here today without the support of China.

And moving forward, I think the relationships between Australia and China … will continue to forge new pathways moving forward, Otranto said.

Vandita Pant, chief financial officer (CFO) of BHP, said the demand for Australian minerals and investment in the sector have underpinned the development of mining projects, infrastructure, and technological advancements which have been a key driver of economic growth and prosperity for both countries. This has also driven growth, innovation, and job creation within the mining sector, she said.

Looking ahead, China’s continued focus on urbanization, industrialization and developing new quality productive forces will sustain demand for high-quality mineral resources from Australia, such as iron ore, met coal and copper, Pant said.

This ongoing demand will help support the growth of Australia’s mining sector and contribute to the economic prosperity of both China and Australia, Pant said.

Stausholm said China has been making breakthroughs in green technologies and products by building a leading industry supply chain.

That provides opportunities and potential for collaboration with global partners including Australian businesses to better address climate change, said the Rio Tinto’s chief executive, adding that Chinese companies can bring expertise and investment to develop value-added facilities in Australia, benefiting local resources and Australian technological innovation.

Otranto said Fortescue Metals had announced an ambitious plan to transform its energy system to completely green by 2030, and he believed China is uniquely placed to supply the wind and solar technology in large-scale manufacturing to enable the company to achieve the goal.

Pant spoke highly of China’s transformation toward net-zero, saying China’s investment and progress in green manufacturing is at an astounding pace.

I believe that there will be opportunities for companies with the right experience and expertise and that this could lead to shared growth and mutually beneficial outcomes for Australia and China as the net-zero transition continues, said the BHP CFO. ■

Immigrant-Owned Startups Fuel Innovation in California, Governor Newsom Reveals at Fundraiser, US

Shreya Gupta
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0
Immigrant-Owned Startups Fuel Innovation in California, Governor Newsom Reveals at Fundraiser, US

California, known as the hub of innovation and entrepreneurship, has once again highlighted the significant contributions of immigrants to the state’s startup ecosystem. Governor Gavin Newsom revealed that a staggering 42 per cent of all startups in California are founded by immigrants, emphasizing their crucial role in driving the state’s economic engine. Despite the prevailing rhetoric of xenophobia and nativism in national politics, California stands out as a beacon of diversity and inclusivity, celebrating the talents and contributions of immigrants from around the world.

During a fundraiser in Massachusetts, Newsom commended the resilience and creativity of immigrant entrepreneurs, underscoring their pivotal role in shaping California’s success story. With a rich tapestry of cultures and backgrounds, the state has harnessed the power of diversity to lead in manufacturing, scientific research, and global innovation. Newsom’s remarks resonate with the ethos of tolerance and progress that define California’s identity, setting it apart as a model for embracing diversity and fostering growth.

The fundraiser, hosted by US India Security Council president Ramesh Viswanath Kapur and his wife Susan, brought together prominent Indian Americans in Boston to engage in a dialogue on entrepreneurship and advocacy. Newsom’s unwavering support for entrepreneurial initiatives and principled stance on critical issues garnered praise from attendees, reflecting a shared commitment to harnessing talent and driving progress. Kapur’s endorsement of Newsom as a potential future presidential candidate underscores the Governor’s leadership and vision for a more inclusive and prosperous America.

As Newsom highlighted the unique strengths of California and Massachusetts in nurturing talent and fostering competition, he underscored the importance of human capital in driving innovation and economic growth. With nearly 27 per cent of California’s population foreign-born, the state’s mindset of inclusivity and collaboration sets a powerful precedent for realizing the full potential of diverse communities. By embracing diversity as a strategic advantage, California continues to lead the way in a global economy that thrives on innovation and creativity.

Biden’s Support Grows: 17 Backers Join the List, US

Siddharth Mehta
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NPR is keeping track of on-the-record Dem supporters, step-downers, and expressed concerners. Today’s list of supporters grew a whopping 17 names, up from 9 on Friday:

Backed Biden (26):

Sen. Richard Blumenthal* (Connecticut) — July 8

Sen. Chuck Schumer* (New York) — July 8

Sen. Mark Kelly* (Arizona) — July 8

Rep. Ilhan Omar* (Minnesota) — July 8

Rep. Jan Schakowsky* (Illinois) — July 8

Rep. Nanette Barragán* (California) — July 8

Rep. Bennie Thompson* (Mississippi) — July 8

Sen. Catherine Cortez Masto (Nevada) — July 8

Rep. Grace Meng (New York) — July 8

Rep. Steven Horsford (Nevada) — July 8

Rep. Frederica Wilson (Florida) — July 7

Rep. Adriano Espaillat* (New York) — July 7

Rep. Don Beyer (Virginia) — July 7

Sen. Alex Padilla (California) — July 7

Sen. Bernie Sanders (I-Vermont) — July 7

Sen. Maggie Hassan (New Hampshire) — July 5

Sen. John Fetterman (Pennsylvania) — July 5

Sen. Chris Coons (Delaware) — July 5

Gov. Kathy Hochul (New York) — July 4

Gov. Tim Walz (Minnesota) — July 4

Gov. Wes Moore (Maryland) — July 4

Gov. Gretchen Whitmer (Michigan) — July 3

Gov. Gavin Newsom (California) — July 3

Rep. John Garamendi (California) — July 3

Rep. Haley Stevens (Michigan) — July 2

Sen. Raphael Warnock (Georgia) — June 30

So even though NPR news hosts keep leading off with dumb teasers like concern about Biden is growing, in fact, their own reporting shows that it isn’t: the step-downer list is the same as yesterday, with the latest four now accompanied by asterisks saying confirmed to NPR reporters, or in other words, nothing they’d care to stand by.

President Droupadi Murmu Urges Global Action on Climate Crisis During Odisha Visit, India

Siddharth Mehta
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President Droupadi Murmu Urges Global Action on Climate Crisis During Odisha Visit, India

President Urges Government and International Bodies to Save Nature | Bhubaneswar News – Times of India

Bhubaneswar: President Droupadi Murmu expressed concern over global warming and rising incidents of extreme weather events and urged govt, international organisations and individuals to make efforts to protect and conserve nature. Murmu highlighted the disconnect with mother nature caused by the hustle and bustle of the daily grind and how humankind is exploiting nature for short term gains. While citing the severe heatwave condition experienced in India this summer, she warned of rising sea levels threatening to submerge coastal areas and lamented the heavy toll pollution has taken on marine life and ecosystem.

There are two ways, I believe, to meet the challenge of protection and conservation of the environment, broader steps that can come from governments and international organisations and smaller and local steps that we can take as citizens. The two are, of course, complementary. Let us pledge to do what we can do individually and locally for the sake of a better tomorrow. We owe it to our children, she said, while urging people to take responsibility for protecting the environment for future generations.

UN: Israel Ultimatum Forces Gaza Exodus, Hospitals and Schools Impacted

Riya Patel
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UN: Israel Ultimatum Forces Gaza Exodus, Hospitals and Schools Impacted

The United Nations has said that Israel’s latest ultimatum forcing exodus of Palestinians from parts of besieged Gaza City affected more than 60 schools sheltering displaced Palestinians, as well as two partially functional hospitals, six medical points and two primary health care centres.

Humanitarian officials report that staff and patients have fled hospitals in and around the Israel-threatened areas, and people who were already displaced are being forced to flee again, UN spokesperson Stephane Dujarric said.

The UN humanitarian office also reports that active hostilities, damaged roads, access limitations and the lack of public order and safety continue to hamper movement along the main humanitarian cargo route from the Kerem Shalom [Karam Abu Salem] crossing to Khan Younis, and then to Deir al-Balah, Dujarric said.

He said this has resulted in critical food shortages, reduced food rations in central and southern Gaza last month, and the increasing risk of stranded supplies, especially food, spoiling in the heat.

Just three of the 18 bakeries that our humanitarian colleagues support in Gaza are still operational, all of them in Deir al-Balah, Dujarric said. Meanwhile, lack of fuel has forced nine bakeries that were working at partial capacity to completely cease their operations.

Maysa Saleh, the Norwegian Refugee Council’s education officer in Deir al-Balah, said in a statement that almost no aid has arrived over the last week or so, and food remains the number one worry.

Father’s Sketches of Son’s Baseball Journey Captivate Fans, US

Ishan Joshi
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Father’s Sketches of Son’s Baseball Journey Captivate Fans, US

Colorado Rockies rookie Aaron Schunk dazzles on the field as his dad sketches stadiums

While Colorado Rockies rookie infielder Aaron Schunk works his artistry at shortstop, his father Eric Schunk quietly sits in the stands and creates his own masterpieces.

It’s part of who he is — his drawings — and it’s pretty amazing, Aaron said.

It’s the best sport in the world and the time you have to breathe in and breathe out makes it the perfect time for sketching, Eric proclaimed.

For years now, Aaron has dazzled on the field while his dad has sketched the ballparks where his son has played.

High school through college, I did several of the ones like when Aaron played at Georgia, we went around some of the SEC ballparks and had a chance to do some of those, recalled Eric. Then I think I did everyone except for Albuquerque in the minors.

An architect by trade, Eric knows you need a plan when you pick up the pen.

I like to start by doing the edging, like the base of the seating and the edge of the dugout, he said. Then I’ll rough in the outfield lines and that gives me a basis for the whole thing so I know the scale is correct. The thing I love about this park is the imbalance it has. I love there is a large seating of stands in right field and then the Rox Pile and scoreboard are so magnificent as backdrop pieces and the batter’s eye is one of the best I’ve seen in baseball.

While Aaron’s baseball ability is major-league caliber, his artistic talent is another story.

I have no artistic bones in my body, he proclaimed. I’m not very good at the whole vision he sees. For a lot of guys, they haven’t seen his drawings before so when it got posted and blew up, they were like ‘man, those are good!’ Then they asked me if I could do it and I was like no shot.

But his dad sees similarities between their talents.

People ask me how I’ve done this, Eric said. I’ve done it every day of my life since I was 4 years old and Aaron has played baseball every day of his life since he was 4 years old. This is what he’s trained for and where he is at home and this is my home.

Dad drew a lot of attention with his sketch of Aaron’s debut against the Chicago White Sox.

The Chicago one is pretty special because of the meaning behind it, Aaron said.

But nothing can compare to drawing the ballpark that Aaron will hopefully call home for years to come.

I’m down here with my wife and we’re watching our son see his dream come true, an emotional Eric said. It’s almost completely indescribable so I’m hoping I have a sketch that will commemorate this for myself later on and maybe for Aaron. My heart will be into this sketch more than any other place. For me to draw the stadium that he’s playing his first home game in, I can’t tell you what this means to me, it’s pretty special.

A.O. Smith Declares $0.32 Quarterly Dividend for Shareholders, US

Shreya Gupta
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0

Headline: A. O. Smith Declares $0.32 Quarterly Dividend Per Share for August Payout

In a significant move to mark its 150th year in business, A. O. Smith Corporation (NYSE: AOS) has announced a regular quarterly cash dividend of $0.32 per share for its Common Stock and Class A Common Stock. Shareholders as of July 31, 2024, will receive the dividend on August 15, showcasing the company’s commitment to shareholder value.

The declaration of the dividend reflects A. O. Smith’s financial stability and dedication to rewarding its investors, building on its history of consistent dividend payments. With a track record of 16 consecutive years of maintaining dividends, the forthcoming payout underscores the company’s reliability and strong financial health.

According to a press release statement, A. O. Smith continues to uphold its tradition of sharing its success with shareholders amidst its ongoing strategy to navigate the competitive landscape of the water heating and treatment industry. The company’s commitment to innovation and energy efficiency remains central to its operations, positioning it as a leader in the industry.

Investors can also note A. O. Smith’s recent earnings beat in the first quarter of 2024 and the appointment of Curt Selby as the new Senior Vice President of Human Resources. Additionally, analysts at Jefferies maintained a Hold rating on A. O. Smith, recognizing the company’s competitive resilience and commercial offerings.

A. O. Smith’s declaration of a quarterly cash dividend, coupled with its positive financial outlook and dividend growth, underscores its consistent performance and attractiveness to dividend-seeking investors. As the company gears up for its dividend payout in August, shareholders can look forward to receiving their share of the company’s success.

Boeing Reaches Plea Deal to Avoid Criminal Trial for 737 Max Crashes, US

Sophia Anderson
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Boeing has accepted a plea deal with the US Government that will enable them to avoid a criminal trial related to two fatal 737 Max crashes.

According to reports, the crashes in Indonesia and Ethiopia resulted in the deaths of 346 individuals. In the aftermath of the incidents, Boeing will pay a hefty fine of $243.6 million dollars and commit to further investments in safety and compliance programs to prevent such tragedies from recurring.

The deal with the US Government requires Boeing to appoint an independent monitor to oversee safety and quality procedures for three years. Additionally, the company must allocate at least $455 million towards enhancing its compliance and safety protocols.

However, this plea bargain does not absolve Boeing of accountability for future incidents, such as the recent incident involving a door cover detachment on a 737 Max departing from Portland. Despite no fatalities in that event, it prompted renewed scrutiny from regulatory authorities and oversight agencies.

Boeing, a prominent figure in the aviation industry, has been under mounting pressure to address issues related to quality assurance and safety controls. The approval to regain control over Spirit Aerosystems, its primary parts supplier, underscores the company’s continued efforts to ensure operational integrity and public safety.

As Boeing navigates the aftermath of the plea deal and works to advance its commitment to safety and compliance, the aviation giant faces ongoing challenges in rebuilding public trust and restoring its reputation in the wake of these tragic incidents.

US Raises Concerns with India Over Russia Relationship amid Ukraine Invasion

Michael Wilson
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US Raises Concerns with India Over Russia Relationship amid Ukraine Invasion

The United States has raised concerns with India about its relationship with Russia amid Moscow’s invasion of Ukraine, a U.S. State Department spokesperson told reporters on Monday in response to questions about a meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.

India has faced pressure from the West to distance itself from Moscow after Russia invaded Ukraine. New Delhi has thus far resisted that pressure, citing its longstanding ties with Russia and its economic needs.

Modi met Putin in Russia on Monday in the prime minister’s first visit since Russia invaded Ukraine in February 2022. In a post on social media platform X, the prime minister said his talks with Putin will surely go a long way in further cementing the bonds of friendship between the two countries.

I will look to Prime Minister Modi’s public remarks to see what he talked about but as I said, we have made quite clear directly with India our concerns about their relationship with Russia, a State Department spokesperson said in a press briefing.

And so we would hope (that) India and any other country when they engage with Russia would make clear that Russia should respect the U.N. Charter, should respect Ukraine’s sovereignty and territorial integrity.

Russia has been India’s largest weapons supplier since the Soviet Union days. However, India has also been seeking other options, as the Ukraine war hobbled Russia’s ability to supply munitions and spares.

Washington in recent years has looked to woo New Delhi, with political analysts saying the U.S. sees India as a counter to China in the Asia-Pacific.

While the West has tried to isolate Putin, China, India and powers in the Middle East, Africa and Latin America have continued to build ties.

Researchers Make Breakthrough in Boosting Vaccine Efficacy Against Staph Infection, Ireland

Rohan Desai
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0

Scientists have discovered a promising breakthrough in enhancing vaccine responses to combat the potentially deadly bacterium Staphylococcus aureus. Through a study conducted in an animal model, researchers have identified that targeting the immune-suppressive molecule Interleukin-10 (IL-10) during vaccine delivery can significantly improve the vaccine’s ability to protect against infection.

Staphylococcus aureus is a major cause of community- and hospital-acquired bacterial infections, resulting in over one million deaths globally each year. The rise of antibiotic resistance in this bacterium, particularly the antibiotic-resistant MRSA strain, poses a significant challenge in treating infections, leading scientists to explore alternative solutions like vaccines.

One of the hurdles in developing an effective vaccine against S. aureus is the bacterium’s ability to dampen the immune response by activating IL-10, a molecule that suppresses inflammation in the body. This immune evasion mechanism hinders the immune system’s ability to respond effectively to the vaccine.

In a recent study published in JCI Insight, researchers demonstrated that immunizing subjects with a vaccine that primes their immune systems to respond to infection along with antibodies that neutralize IL-10 improved the immune response and bacterial clearance following subsequent infection in an animal model.

Rachel McLoughlin, Professor in Immunology at Trinity College Dublin, emphasized the significance of these findings, stating that the results offer hope for a novel strategy to enhance vaccine efficacy against S. aureus infections. She highlighted that prior exposure to the bacterium could lead to an immune-suppressed state, hampering the immune system’s response to vaccines. By neutralizing IL-10 during immunization, researchers aim to overcome this challenge and improve vaccine effectiveness.

The research provides valuable insights into developing vaccines that target S. aureus more effectively, potentially offering a new approach in the fight against this deadly bacterium. With antibiotic resistance on the rise, innovative strategies like this could play a critical role in addressing the global threat posed by S. aureus infections.

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