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US Pacific Commander Addresses Manifold Threats

Speaking at the Australian Strategic Policy Institute in Brisbane on 28 June 2017,Admiral Harry B. Harris,Jr.,Commander,US Pacific Command,characterised the North Korean threat as covering the entire APAC Region,since its missiles point in every direction:
North Korea made this clear when they threatened Australia with a nuclear strike just a couple of months ago.*
At the same time,Adm.Harris pointed out,the Islamic State in Iraq and the Levant is a growing threat in the region,having named Isnilon Hapilon its emir of Southeast Asia:
These terrorists are using combat tactics that we've seen in the Middle East to kill in the city of Marawi in Mindanao (the Philippines).*
With regard to the ongoing US/Australia/New Zealand Exercise Talisman Sabre 17,the admiral noted:
TS17 is a realistic,high-end and challenging exercise that provides endless opportunities for our nations to innovatively prepare for our shared regional and global security challenges.
Our alliance matters.It matters to our two great nations.It matters to the Indo-Asia-Pacific Region and it matters to the world,because,just as Australia and the US stood together against tyranny and oppression in the twentieth century,the world expects no less in the twenty-first.*
As to China,Adm.Harris told ASPI:
I believe the Chinese are building up combat power and positional advantage to assert de facto sovereignty over disputed maritime features and spaces in the South China Sea,where they are physically altering the physical and political landscape by creating and militarising man-made bases.Fake islands shouldn't be believed by real people.

Air Force F-35 Version Cleared for Combat - prepared for global threats

On 2 August 2016 at Joint Base Langley-Eustis,Virginia,US Air Force General Hawk Carlisle,commander,Air Combat Command,declared the Air Force's F-35A Lightning II Joint Strike Fighter to be combat ready.The general said the aircraft met all criteria for declaring initial operational capability:
airmen trained,manned and equipped to conduct basic close air support,interdiction and limited suppression/destruction of enemy air defences in a contested environment with an operational squadron of 12-24 aircraft;
the ability to deploy and conduct operational missions using program of record weapons and mission systems;
and having all logistics and operational elements in place.
The F-35A will be the most dominant aircraft in our inventory because it can go where our legacy aircraft cannot and provide the capabilities our commanders need on the modern battlefield,General Carlisle added.*
Besides basic combat readiness,the aircraft provides great command and control functions through fused sensors,and it will provide pilots with unprecedented situational awareness of the battle space that will be more extensive than any single seat platform in existence,officials point out.*
Bringing the F-35A to initial combat readiness is a testament to our phenomenal airmen and the outstanding support of the Joint Program Office and our enterprise partners,according to Air Force Secretary Deborah Lee James.This important milestone for our fighter force ensures the US,along with our allies and international partners,remains prepared to deter,deny and defeat the full spectrum of growing threats around the globe.*
The Air Force's first operational squadron of F-35As is the 388th Fighter Wing,Hill Air Force Base,Utah.They will fly and maintain the fifth generation fighter with Air Force Reservists from the 419th Fighter Wing at Hill.*
Lockheed Martin is the prime contractor for the F-35 and its three variants for the Air Force (F-35A),US Marine Corps (F-35B) and US Navy (F-35C),as well as allies and partners expressing an interest such as Great Britain,Australia and the Netherlands.*
Lockheed Martin (LMT)

McCormick Puts Gourmet Garden in its Shopping Cart

Spice maven McCormick & Co. of Sparks,Maryland has acquired Australian vendor Botanical Food Company Pty Ltd for 114 million dollars.Botanical owns the Gourmet Garden line of packaged herbs.Gourmet Garden is considered a global market leader in chilled convenient packaged herbs,exporting to 15 countries, with the US being its largest market.Its 53 million in annual sales has been growing at a double-digit rate.*
Botanical employs about 200 people at its Queensland factory.Australia and North America account for more than 90% of Garden Gourmet sales.*
McCormick already has a branded herb portfolio;but it doesn't contain chilled convenient products.The firm intends to expand Gourmet Garden's global distribution of lightly dried basil;chili pepper;chives;cilantro;ginger and so on.It also plans to increase brand investment to grow Garden Gourmet sales.McCormick is capitalising on an increasing demand for new seasonings as more and more health-minded cooks look to try international dishes.The old Baltimore County,Maryland business gains entrance into the produce aisle with the purchase of the Gourmet Garden brand in the bargain.*
McCormick & Co Inc (MCK)

B-2 Stealth Bombers Deployed to the Tense Asia-Pacific

US Strategic Command deployed three US Air Force B-2 Spirit bombers from Whiteman Air Force Base,Missouri to an undisclosed location in the Asia-Pacific region on 8 March.While in the region,the Northrop Grumman warplanes,characterised by their low radar signature and carrying up to 44,000 pounds of conventional and thermonuclear ordnance,will conduct training with ally and partner air forces,and conduct a radio communications check with a US air operations centre.Their mission is to ensure bomber crews maintain a high state of readiness and crew proficiency,and to provide opportunities to integrate capabilities with key regional partners,US STRATCOM said.*
These flights ensure we remain ready to deter strategic attack,now and into the future,and are one of the many ways the US demonstrates its commitment to security and stability across the globe,said Admiral Cecil D. Haney,US Navy,Commander US Strategic Command.*
Strategic bomber deployments ensure our ability to project power at a time and place of our choosing and develop interoperability with our regional allies and partners,said General Lori J. Robinson,Commander Pacific Air Forces.Recent events demonstrate the continued need to provide consistent and credible air power throughout the Indo-Asia-Pacific region.Our ability to demonstrate credible combat power while training and interoperating with our network of like-minded partner nations is vitally important,General Robinson added.*
At this time,the deployment of these major air power assets reinforces US policy in the Asia-Pacific and its response to China's militarisation of islands in the South China Sea;as well as North Korea's recent destabilising behaviour such as conducting its forth underground nuclear detonation and a long-range missile test in January and February 2016,respectively.*
With regard to China,General Robinson said we've watched the increased military capability on those islands,whether it's the fighters;whether it's the missiles or the 10,000-foot runways.We will continue to do as we've always done,and that is fly and sail in international airspace and waters,in accordance to international rules and norms,General Robinson told journalists in Canberra,Australia prior to her addressing the Royal Australian Air Force's biennial Air Power Conference next week.*
Northrop Grumman was also recently awarded the contract to develop and build the US Air Force's B-21 Long Range Strike Bomber.*
Northrop Grumman (NOC)

General Mining:Should You Invest in South32?

To invest in South32,the recent spinoff of Australian general mining titan BHP Billiton,you must have access to the London,South African or Australian stock exchanges.The new firm concentrates on mines and smelters of coal,manganese,aluminium and nickel.Led by CEO Graham Kerr,it has operations in Australia,Africa and Colombia,plus non-operated joint venture interests in Brazil.It is immediately the third largest miner in the world,behind BHP and Rio Tinto.*
South32,which is based in Perth,cites its strong commodity and customer diversification,with assets having 8.3 billion of revenue in 2014.RBC,JP Morgan,Citi and Merrill Lynch have buy ratings on the firm as a strong generator of cash,albeit one with a dearth of production growth.RBC said it has an outperform on the company in light of its high quality portfolio of low cost assets with exposure to a diverse set of commodities which we favour.While production growth is lacking,cost out should support near term earnings;longer term the strong balance sheet supports M&A driven growth.*
Credit Suisse is neutral on the stock.*
BHP Billiton said it wanted to simplify its portfolio by spinning off a cash generator with high quality metals and mining assets competitively positioned in their respective cost curves.The Melbourne-based company pays a hefty 5.70% dividend yield and is listed on the NYSE.It has 41 assets in 13 countries,including petroleum and potash,copper,iron ore,coal,aluminium,manganese and nickel.It also has silver,lead,zinc,molybdenum,uranium and gold assets.BHP mines bauxite,refines it into alumina and smelts alumina into aluminium;mines manganese and produces manganese metals and alloys;and mines and produces nickel products.*
South32 Ltd (LSE:S32),BHP Billiton PLC ADS (BBL)

Navy Disses CNN Report on Airliner Search

The US Navy dismissed a CNN report Thursday that the Navy had concluded the pings detected in the Indian Ocean were not from the black box recorders of missing flight MH-370.A Navy spokesman said that comments the Navy's civilian deputy director of ocean engineering,Michael Dean,made to CNN,to the effect that authorities now almost universally believe the pings did not come from the flight's black boxes,but possibly from the ship or within the electronics of the Bluefin-21 submersible,were speculative and premature.
We continue to work with our partners to more thoroughly understand the data acquired by the Towed Pinger Locator.As such,we would defer to the Australians,as the lead in the search effort,to make additional information known at the appropriate time,the spokesman said in an emailed statement.
It wasn't clear whom Mr.Dean was speaking for,but CNN proceeded to hold a discussion on the remarks with its panel of experts.
The Australian Transport Safety Bureau,the agency in charge of the search,had said in a statement earlier Thursday that the search in the vicinity of the acoustic detections thought to be pings from the plane's black boxes can now be considered complete,and in its professional judgement,the area can now be discounted.*
It is common for searches to reach dead ends such as the failure of Bluefin-21 to locate the plane's black boxes in the area the pings were heard in,then pick up again with a new strategy.The next chapter of this long search will be hiring a contractor to continue the Indian Ocean hunt for the missing airliner in a few months' time.

Blackstone's Deals;GeoResonance Claim Checked

The absolute levels of securities are on the higher side,said Stephen Schwarzman,CEO of The Blackstone Group,but there are deals to be had and we are quite active.We never buy anything unless we can improve them significantly.There are more than two trillion dollars in cash available,so you're gonna see deals.*
Long term,China's a really interesting place.I'm not in the non-believer school.Per capita income is very low there.Their middle class has grown immensely,but it's not as big as it needs to be.You have to transition from an export economy to a consumption economy.*
We've been very active buying both companies and real estate.Overall,this has been a very active time for us.We've bought and sold a lot of companies as well.Our companies are outperforming the S&P in a pretty significant way,Mr.Schwarzman observed.*
US pending home sales were up 3.4% in March.It's a good solid gain,a beat,but we need to see it continue throughout the Spring,said CNBC real estate correspondent Diana Olick.*
Bangladesh is sending two navy frigates to check out a claim by Australian firm GeoResonance that it may have found the wreckage from lost flight MH-370 in the Bay of Bengal.The Australian search committee has dismissed the claim because it doesn't fit with the satellite data provided by British firm Inmarsat,nor the pings detected by a search vessel in the southern Indian Ocean.
GeoResonance says its technology was created to search for nuclear,biological and chemical weapons under the ocean or in bunkers underground.They claim it is reliable and has successfully located submersed structures,ships,munitions and aircraft.In some instances,objects that were buried under layers of silt could not be identified by other means.The technology records electromagnetic fields by airborne multispectral imaging,but GeoResonance will not divulge exactly how the proprietary method works.
About 190 kilometers/118 miles off the coast of Bangladesh,they found traces of aluminium,titanium,copper and other trace elements that hadn't been there before the airliner disappeared on 8 March.These elements are suggestive of a commercial airliner such as MH-370,a Boeing 777.The company is not declaring this finding is MH-370;however,it should be investigated,their press release stated.*
The Blackstone Group LP(BX)

Monday Newsline:Asian Shares Lower;Indian Election;MH-370 Progress

Asian markets were mostly lower Monday on the disappointing US jobs report Friday,which fell short of analysts' growth projections.The Nikkei cratered 1.69%,while the HSI fell 0.74 and the ASX slipped 0.17.US stock futures were also lower.The Shanghai Composite defied the trend,rising 0.74%.
Wheat prices are up on widespread dryness in breadbasket areas from Ukraine to the United States.*
The world's largest democracy has begun its elections today as India goes to the polls.The nationalist BJP party is the frontrunner over the incumbent Congress Party.The BJP is led by Narendra Modi,Chief Minister of Gujarat state.Some label him as a fascist guilty of human rights violations,and he was denied entry to the US in 2005.He is popular in corporate circles as Gujarat state has done well.*
The search for flight MH-370 entered a new,more promising phase Monday as searchers zeroed in on the Australian Defence Ministry vessel Ocean Shield's detection of two extended audio events near the bottom of the Indian Ocean.The great depth of the pinging episodes consistent with the plane's flight recorders,one of which lasted for two hours twenty minutes and the other for thirteen minutes at some 4500 meters/2.8 miles,suggest why this search has been the most challenging in aviation history.
The pings were picked up by the US Navy's pinger locator device that the Ocean Shield was towing at depth over the new area off Western Australia's northern coast.The searchers need a third pinging event so they can triangulate the location and send the Blue Fin 21 submersible down to take still photos of the possible wreckage.It's a process that could require days to complete,retired Air Chief Marshall Angus Houston,the search coordinator,told reporters in a Perth press conference.He said we are very close to where we need to be.Clearly this is a most promising lead.In the search so far,it is probably the best information that we have had.*
In sport,Australian golfer Matt Jones won the Shell Houston Open,securing a place for himself in The Masters tournament this weekend in Augusta,Georgia.It was Jones' first PGA victory.American Matt Kuchar came in second,and Sergio Garcia of Spain took third.
Meanwhile,American Lexi Thommpson made the traditional leap into Poppy's Pond at Mission Hills Golf Club in Rancho Mirage,California as the winner of the Kraft Nabisco Open,the year's first major on the LPGA circuit.It was the fourth LPGA win for Thompson,19,who is known for her long drives.

Voices and Visions:MH-370 and the International Community

We've explored less than 5% of our oceans-less than 1% of the bottoms,said explorer Fabien Cousteau,the grandson of Jacques Cousteau.It could take years to find the airliner.We just don't have the technology.The reality is,there's just so much down there that we don't understand,Mr.Cousteau observed.*
It's a very difficult search-the most difficult in human history,said Australian Prime Minister Tony Abbott in Perth Wednesday.We in Australia are throwing everything we have at it.We owe it to the families,to our good friends the Malaysians,to the troubled citizens of the wider world.I say to the families:be patient.
We cannot be certain of ultimate success,but we can be certain that we will spare no effort.It is an extraordinary international effort that has taken place here.This is an antidote to pessimism.This is one time when we are all working together,Mr.Abbott pointed out.*
A new refined area of search has given us new hope,added Malaysian Prime Minister Najib Razak.Australia has proven an invaluable friend.The disappearance of MH-370 has tested our collective resolve.I can promise the families that we will not give up,Mr.Razat said during his visit to the search operations centre in Perth.*
At this point,many safety officials are looking at this and they're bewildered;they don't know what to do,because we don't know what happened,said journalist Andy Pasztor of The Wall Street Journal.The investigation is fragmented,without direction.The two strands of this investigation were never properly merged.The wrong search area was due to bad coordination.
You really get a sense that from the very beginning there have been tremendous problems in coordination.The Malaysians just haven't been able to get appropriate oversight and coordination.In the future,experts say,it will be a much more coordinated and international probe from the very beginning,Mr.Pasztor noted.

Obama in Europe;HMAS Success

Russia stands alone,President Barack Obama said in Brussels on Wednesday.It was alone in the UN.If anyone in Russia thought they could drive a wedge between the EU and the United States,they were mistaken.Russia's actions aren't just about one country;they're about the kind of world we want.
We have gone through some very rocky waters;through these difficult times,we've been able to strengthen the relationship.On the sanctions,so far what we've seen is excellent coordination between the United States and Europe.What we're now doing is coordinating deeper sanctions should Russia move further into Ukraine.We're taking the impact of sanctions on Europe into account.Giving Europe more gas is not gonna happen overnight.Our energy ministers are committed to doing that.That is their assignment coming out of the G7 meeting.
Our publics have legitimate questions about the trade deals.Because of the trade relationship,we've created millions of jobs on both sides,and growth and prosperity have flourished.Its important to us as leaders to see that others beside the elite few benefit from trade deals,and I think we can shape them in such a way to ensure that.*
Captain Allison Norris of the Royal Australian Navy said HMAS Success was prepared to pick up debris from the Indian Ocean,should it prove to be from the lost flight MH-370.Radar would not be able to detect objects that close to the ship,so lookouts with binoculars and night vision devices are being posted.It's very cold-we rotate the lookouts every hour.Any debris we find would have to be returned to shore,the captain noted.*
Australia is in charge of the search operation,giving assignments to the mutinational units.The search was called off again Thursday on account of bad weather.Six military and five civilian aircraft were scheduled to search,along with Australian and Chinese ships.

Cosmetics and the Luxury Retail Market

Spain,Italy and Greece are not in any healthy condition,according to William Lauder,Executive Chairman of cosmetics titan the Estee Lauder Companies.Central Europe is OK,not bad.Eastern Europe is better still.Germany,France and the Benelux are pretty solid.
Asia's our fastest growing market;China is the fastest in Asia.Chinese consumers are shopping both at home and abroad.There's still an awful lot of growth going on there.We're building for the long term.
The female consumer's behaviour is influenced by her employment;her spouse's employment;and the housing market.
Most of our competitors are European or Asian-based,such as LVMH and L'Oreal.According to the comparables,we are the world's leading prestige market for beauty.A customer will spend 35-50 dollars for our products,versus 500 for a handbag or 50,000 for a necklace.
In California,there is strong Australian buying within a 20 mile radius of LAX airport.It is the major gateway of the Australians to the US;20-30% of area retailers' business is from Australians,given the strong Australian dollar.
Estee Lauder(EL)

Dow Chemical's Broad Solutions Network

Dow Chemical is a company that has long embraced globalism at every turn in its corporate life.
We're using Thailand as an operations hub these days,said Dow Chemical CEO Andrew Liveris.There are 160 Korean scientists at our R&D facility there.
The reception in China for global businesses is powerful.China is a red carpet;there are a lot of other economies that are red tape,the industry leader candidly observed.Dow is in 150 countries in terms of sales.
Obviously,Saudi Arabia is very important to a company like ours that is resource intensive,Mr.Liveris noted.
The firm employs about 52,000 workers worldwide.From Mexico to the Middle East,they produce more than 5,000 specialty chemical,advanced materials and other products at some 197 facilities in 36 countries.
Andrew N. Liveris,who turns 58 next month,is a native of Darwin,Australia.He graduated from the University of Queensland with a chemical engineering degree.Mr.Liveris was formerly general manager of Dow's Thailand operations.The Midland,Michigan resident also serves on the Board of Directors of IBM.
Dow Chemical(DOW)

CNBC Asia:2012 Outlook

CNBC Asia's Karen Tso offered a number of points for investors to consider in 2012:I don't think we're gonna be worried about China anymore.People are being defensive.
Thailand and Indonesia are consumption stories.Thailand's main policy is to increase the minimum wage.
The Shanghai Composite is down more than 20% this year.From a valuation perspective,it's one of the cheapest markets in Asia.There could be a big upside in early 2012.
In Asia,central banks loosening monetary policy could be potentially positive for stocks,Ms.Tso observed.
Karen Tso,based in Singapore,is co-host of CNBC Asia's "Squawk Box" programme.She has a Bachelor of Commerce degree from Griffiths University in Queensland,Australia.A business journalist for more than 10 years,Ms.Tso came to CNBC from Australia's News Nine.
Extra:Recent data suggests the growing influence of China's middle and upper classes.China's grain companies have bought 18 million tonnes of new grain,according to the Xinhua news agency.Chinese pork prices rose up to 0.3% in mid-December trading,and China just overtook India in jewelry sales.

Global Commodity Crunch Concerning

A global commodity crunch is driving prices up with little relief in sight.Freezes in China,droughts in Russia and Australian floods,coupled with emerging market diets that are tending toward more protein and sugar,are generating costs that lead to civil unrest worldwide.
Citigroup says that corn and soybean prices will remain elevated for the next 6-12 months.U.S. corn and soybean production are down.Algerians are paying up to 30% more for staples.
Abdolreza Abbassian of the UN Food and Agriculture Organisation thinks we are entering a very precarious situation.We do not see any good news coming in from the crop side or the weather angle.In terms of prices,we are already as bad as 2008.Commodity exchange traded funds are also affecting prices as investor demand for shares continues to increase.
We would like rules and regulations and transparency by investors,Mr.Abbassian said.The weather will be the main driver in the months ahead.It is a very unpredictable and often unfavorable weather outlook,the FAO official noted.

Cushman CEO Sees No Big Real Estate Bubble

Glenn Rufrano,CEO of global real estate firm Cushman&Wakefield,has confidence there isn't a dramatic real estate bubble in China.Real estate is growing in China,but the potential there is dramatic.He has comfort the Chinese authorities are gonna be ahead of the bubble risk,and the market will sort the rents out.
Cushman&Wakefield will absolutely see a profit this year.They are planning to hire 800 workers in Asia,Australia,the Americas and Europe.At the appropriate time,they may have an initial public offering.
Cushman&Wakefield are commercial real estate brokers and consultants.With offices worldwide,they deliver integrated solutions in listing,management and finance to landlords,tenants and investors.

Australian Mining Tax Reduced

The new Australian government has reached agreement with mining companies on the Mineral Resources Rent Tax,which had generated controversy and ultimately brought down the government of former Prime Minister Kevin Rudd.New Prime Minister Julia Gillard said the agreement will maintain Australia's standing as an attractive and competitive business destination.She believes they've struck the right balance between corporate and public interests.The tax on iron ore and coal was reduced from 40 to 30%,and the threshold levels were raised,bringing the number of companies subject to the tax down to 320 from 2500.
The Australian dollar rose 0.25 when the agreement was reached.Shares of the two biggest mining firms in the country,BHP Billiton and Rio Tinto,also rose on the news.The dispute had lasted for two months.Peter McGuire,Managing Director of CWA Global Markets,said Ms.Gillard acted very decisively and quickly to turn this thing around.The reality is that Australia is resource-based,and mining is the number one headline,Mr.McGuire explained.
Rio Tinto(RTP),BHP Billiton(BHP)

Asian Highlights

Andrew Freris of BNP Paribas says that,in terms of balance sheet fundamentals,Asia has been essentially unaffected by the subprime mortgage problem.Asian central banks have been free to focus on inflation.Japan was a lender,so it is in better shape than the U.S.,which was a borrower.Singapore isn't much exposed to the declining U.S. export market.Medium term,Mr.Freris likes Asian financials.The Korean banks are the cheapest in Asia.Nonetheless,central banks in Australia,Japan and India have injected capital into their banking systems to counter instability in their financial markets,which have been troubled by the Western financial crisis.