canberra and beijing could be talking trade again as diplomatic frictions show signs of easing. welcome to asia business report with me, mariko oi. shares in tesla are falling in after hours trading after quarterly results missed market expectations. delayed results, a missed market expectations. tesla's income and earnings fell by more than 20% in this past quarter compared to the same time last year. it is a big number, but not totally unexpected because the company has been slashing prices of its top selling vehicles over the past year. samira hussain has more from new york. bringing in 20% less income is, well, not good. what helps the electric car maker, however, is that it warned wall street this was coming, so it didn't come as a complete surprise given tesla cut prices on its top selling cars several times last year and in fact did it again this week. now, tesla is grappling with higher borrowing costs for consumers, slowing demand for their cars and so much more competition in the electric car market. so the price cuts did the trick. the company saw a 36% jump in delive

stephen: the salt lake country of southern wa is a long way from canberra and a world away from beijinglves on the front line of a trade war with china. it's a windswept landscape, and it may not look like a food bowl, but it's rich terrain for grain. doug smith: in this particular area, the other lakes area of western australia, barley is one of their main cash crops. i mean, it probably accounts for 50% of the grain that's grown here in western australia. stephen: doug smith heads the industry association wa grains group. until last year, he was riding a barley boom driven by surging chinese demand. at its peak, china was buying more than a billion dollars' worth of australian barley a year. doug smith: we were sort of exporting somewhere around six million ton of barley to china; we're talking australia-wide here. i think west australia alone was exporting somewhere around three and a half million ton. so, you know, we've forsaken all the other markets basically because it was all we could do to produce enough to satisfy the chinese market. stephen: but the risk of banking on china h

transparency engaging in an arms race with australia. chinese australian relations spiraled after canberra london, and washington signed the august military treaty and 2021. in march this year, the u. s. and u. k. agree to help australia acquire nuclear powered, some marines asap, strongly, criticized by china. let's discuss a topic with director of the center for counter had demonic studies. tem anderson, welcome tam, do you think australia's decision to acquire long range missiles is justified by or real security threats or what's the actual reason behind this? no, it's not a real security threat to australia, but it is a, a response to the the concern that the united states of america has to losing its position in the world. and of course, it's the range of rewards that the u. s. is initiated and provoke from around the world to die and really, estrada has, has long had this sort of skin sort of approach to, to thinking show should at offense, be placed on defending this orland or the small continent or large island. or should there be forward defense, and this is the move back into for

brad: the nasa deep space tracking station in tidbinbilla is, you know, just outside canberra.space, and if we don't have that capability, we can't get the data back from mars, we can't communicate with spacecraft, and the second problem we have in this is we're all in this globe that spins. you can't just have one point on earth that talks with everything in space. you need these things spread around the world, and australia, because of that geographical position, we're in the middle between the us and europe, and we're in the southern hemisphere, provides that other ears that you can't get on one side of the world. and nasa and europe identified australia, you know, 50, 60 years ago as the place to do it. michael: australia also has some unique advantages in the space sector: our geographical position, our wide open spaces, and relatively low light pollution. but for all that, we have come to the new space rush a little late. it was only two years ago that we joined much of the rest of the developed world and established a national space agency. male: declare the australian s

it is not beijing, but canberra announced an increase in the military budget and the range of missiles, the maximum range of our weapons was 40 km, and the missile launch range was 300 km with the acquisition of high-precision strike missiles. we will move to over 500 km to give the australian army the firepower it will need to counter those who need those who need and who is. at a distance of more than 500 km. pekingeli has someone in mind and asked the australians not to expose china as a pretext for their militaristic. expansions. china has always followed a national policy that is purely defensive in nature. we are for peace stability both in the asia-pacific region and throughout the world and do not pose any threat to more than one country. the united states talking about the chinese threat, they are trying to stay in this region as the king of the hill, relying on japan, on which they threw nuclear bombs, resting forever, held aloof by australia which sold 20 highmors and a fleet of eight nuclear submarines sit quietly under the palm trees. on the other side of the globe, austra

the trip is also the strongest sign yet that years of frosty relations between canberra and beijing areagain. it's bring in our australian government reporter, fenway scott. tell us who is on this trip and what they are hoping to achieve. ben: australian figures, people from fortescue metals and rio tinto heading to beijing. it is a sign about how important china is to the austrian economy. we had three state premieres of some australians biggest and most resource-rich states, queensland, western australia and others, heading to china. we have only just started to see the warming of relations between these two countries. so clearly, there is a big appetite to get back into the chinese market after three years of tensions between the two countries. shery: which included china hitting exports from australia. what are we seeing from that front? ben: we are starting to see the unwinding of sanctions against austria that were imposed by china. coal shipments are almost back to normal. the wto case has been suspended by china as china has committed to a review of its barley tariffs. it is dis

britain was involved in both the first and the second world war and the vietnam war independently canberrait that their own wild cats, having exterminated 2 million heads of others due to geographical they do not have the position of enemies and never had. now that we are facing the most difficult strategic circumstances since the second world war, the scope and significance of the defense strategy show the strength and determination to ensure the safety of the australians the question of who they seek security from in 2020 first australia joined the new aucus club in the old company with the uk and the us they have teamed up as if to reflect the chinese game of muscles, however, the muscles of the teeth and bites are visible, so far only aukusovskih. this is not beijing and canberra announced an increase in the military budget and the range of the missile, until now the maximum range of our weapons was 40 km, and the range of the missile was 300 km. with the acquisition of high-precision strike missiles, we will move to ranges in excess of 500 km to give the australian army the firepower

canberra and beijing could be talking trade again after friction show signs of easing. hi there, welcome. this has turned out after hours trading after the electric car makers quarterly results miss marketing expectations. because of his income and earnings fell by more than 20% in this past quarter compared to the same time last year. it is a big number but not totally unexpected because the company has been slashing prices of its top—selling vehicles over the past year. top-selling vehicles over the past year-— top-selling vehicles over the ast ear. �* :: , ,, past year. bringing in 20% less income is _ past year. bringing in 20% less income is well, _ past year. bringing in 20% less income is well, not _ past year. bringing in 20% less income is well, not good. - past year. bringing in 20% less j income is well, not good. what helps the electric car maker however is that it warned wall street this was coming. so it didn't come as a complete surprise, giving tessa cut prices on its top—selling cars several times last year. in fact did it again this week. tesla is grap

$ 70 billion, which would be the largest contract in the history of the australian navy however, canberra for a us- uk security and defense alliance and the contract effectively intercepted washington's original speech. walked about the fact that the boats will be created using british and american technologies, but will be built in australia, the french media called the break in the humiliation deal an insult and a knife in the back a sign of protest france refused to celebrate the anniversary of the naval battle with the united states and a high-ranking representative of the military naval forces of the republic returned ahead of schedule from yours. in paris, the leaders of the aucus alliance eventually decided in march that australia would buy eight american nuclear submarines in the next decade. there will be three ships type virginia and it is not clear. these are new boats, the entire composition of the us fleet, and at the second stage, new nuclear-powered ships will be built according to the british project and with american technologies, but not in australia. in the usa , both t

70 billion, which would be the largest contract in the history of the australian navy , however, canberra to conclude the us- uk security and defense alliance and the contract actually intercepted washington's original speech. it was said that the ducks would be created using british and american technologies, but they would be built in australia. the french media called the break in the humiliation deal an insult and a knife in the back as a protest sign. returned from washington. in paris, in the end, in march , the leaders of the aucus alliance decided that australia will buy eight american nuclear submarines in the next decade. it will be three ships, such as virginia, and it is not clear. these are new boats, the entire composition of the us fleet, and at the second stage, new nuclear-powered ships will be built according to the british project and with american technologies, but not in australia. in the usa , they will be used like the british. so the australians will train the crew in the uk and nuclear weapons, while there is no talk, but the us has already approved the sale of 22

canberra and beijing could be talking trade again after friction show signs of easing.lectric car makers quarterly results miss marketing expectations. because of his income and earnings fell by more than

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there were events in wellington and auckland whilst in australia there were services and parades in canberraas confirmed that he is taking legal action at the high court, against the royal college of nursing over its strike planned for next week in england. he argues the rcn's mandate for industrial action will expire during the walkout. the union denies this. our health editor hugh pym reports. nurses staged a series of strikes unprecedented in the history of their union. the strikes were paused when pay talks with ministers began, then the rcn agreed to put a deal to its members in england who rejected it and another strike was called, this time lasting 48 hours from 8pm on sunday april the 30th until the same time on tuesday made a second. but nhs officials argue that the six—month mandate allowing strike action would run out on the evening of may the first so the government is taking legal action to stop any walkouts on may the second. that has angered the nurses union. , , ., ., ., union. this is no way to treat a u-rou union. this is no way to treat a grow) of — union. this is no way t

senior analyst in different strategy at the australian strategic policy institute, john just now from canberra, mrs. davis, welcome to the program. how do you read this is pushing pull? look, i think everyone realizes that china regards taiwan as part of its territory. the taiwanese have a different perspective. the vast majority of taiwanese dancy themselves is part of china and have no wish to unify with china. so i think china is gradually increasing the pressure on taiwan. some people liken it to boiling a frog. essentially, if you increase the pressure gradually, eventually it becomes unbearable. i don't think that's going to work with taiwan. i think what you will see is that the chinese will expand these exercises. i have a time that become more aggressive. and the question is, at what point do they drift over the line of essentially a military blockade that that's exactly, that's what i was gonna say. it's my think is going at the, at this point, how close are we to that point where you cross the line and to what extent were in my perfect response? well, the chinese have now said they'

canberra and beijing could be talking trade again as diplomatic frictions show signs of easing.quarterly results missed market expectations.

a sign of warming relations between beijing and canberra. tyson started to.tarted deteriorating in 2018 after australia introduced anti-foreign interference in assertion. the visit this week has been described as a new round of consultations by china. it comes despite canberra signing up to the august submarine deal just weeks ago. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. i am and this is bloomberg. >> it's early in the asian session, let's turn to the bell with what is moving. >> taking a look at new chris here, this is an australian miner, who just got an offer from a takeover china, which spun off from them i can 1999, credit arena for geisha. but this deal is worth $90.5 billion, and new chris shareholders would own 30% of the combined company. it would imply an aggregate value of 32 $87 -- 32.87 dollars per share. we are seeing those stocks they are moving to that mark. certainly many companies have really seen a wave of acquisitions to try to gain scale and add

the 19 —year—old is scheduled to leave her club york valkyrie and join canberra raiders next month. a challenge cup final at the age of 16. i spoke to her earlier and began by asking what it will mean to her. it means the world. i know most coolers that play rugby league, it's what they dreamed of since being young and it's been a dream of mine to enter in the sport and become a full—time professional, it means absolutely everything. i think would be an amazing expense for myself and it's something i have wished to do it's something i have wished to do it since starting in the sport and hopefully soon it would be the case in england as well.— in england as well. become a full-time _ in england as well. become a full-time professional. - in england as well. become a full-time professional. can . in england as well. become a i full-time professional. can you full—time professional. can you explain the differences between the australian league and the english league? there's quite a vast difference, actually, what is the attraction of going to usher them. the attraction for myself is h

becoming the first english rugby league player to compete in the women's australian nrl, afterjoining canberra. and england's harry brook has hit his maiden century in the ipl. he made 100 not out off 55 balls for sunrisers hyderabad against kolkata knight riders. the billiejean king cup qualifiers are under way in coventry. great britain are playing france in the best of five ties. the winner will make it to november's finals. no emma raduncanu's who's sitting this one out, captain anne keothavong says she wants the focus to be on her team. but they've made a losing start despite a heroic effort from katie boulter in her opening match. drew savage reports. there's nothing like the billiejean king cup to get british tennis fans on theirfeet. in it's king cup to get british tennis fans on their feet. in it's a on theirfeet. in it's a competition that tends to get the best out of katie bolton.— that tends to get the best out of katie bolton._ an - that tends to get the best out of. katie bolton._ an early katie bolton. there it is. an early break against _ katie bolton. there it is. an early bre

elsewhere in australia with the focus on improving trade tensions between beijing and canberra and thetralia's government and for you saying he is optimistic the punitive trade sanctions imposed on a range of sectors will be lifted by years end and meanwhile brent crude is holding the fourth weekly gain and a lot of concerns playing into the prices around the tightening outlook. shery: our next guest says the best place to be is the defensive sectors. where opportunities are. who could be the outperformer's that have not done very well in the last few months? >> it's a great question and i have been wondering why it has been the case that sectors like health care or staples or defensive technology have lagged a very narrow group of large cap tech names that have really contributed something close to 80% or 90% of the s&p 500 performance in the first quarter. our general view is that while perhaps technicals have favored momentum traders and volatility control strategies or risk parity strategies, buying more equities in some of these index giants, generally when we look over the horizo

let's been in david in canberra. i let's been in david in canberra. sorry about the rant!d we organise events~ — manage singers and we organise events. i'm the problem that we are having _ events. i'm the problem that we are having is— events. i'm the problem that we are having is we — events. i'm the problem that we are having is we cannot now get insurance _ having is we cannot now get insurance unless we have full security— insurance unless we have full security at events. and the problem comes— security at events. and the problem comes because obviously when i started — comes because obviously when i started doing this, ten or 15 years ago. _ started doing this, ten or 15 years ago. all— started doing this, ten or 15 years ago. all we — started doing this, ten or 15 years ago, all we had to worry about was the venue — ago, all we had to worry about was the venue and selling tickets. all that happens when you get this type of disruptive protest is that the prices — of disruptive protest is that the prices have to go up because you've -ot prices have to go up because you