Panicked investors rush to uranium stocks to front run price spike
Investors are piling into the Australian sharemarket's uranium sector in an attempt to front-run a spike in prices as the world's largest physical uranium fund readies a war chest to splurge on the nuclear fuel.
Uranium stocks – among the most shorted stocks on the ASX – have roared higher this week after Toronto-based asset manager Sprott announced it sold $US100 million ($153 million) worth of units in its physical uranium trust to broker Canaccord Genuity.
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Ford Ranger PHEV built for choice not compliance, says exec
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7NEWS
an hour ago
- 7NEWS
Ford Ranger PHEV built for choice not compliance, says exec
Ford Australia has launched the Ranger PHEV to broaden customer choice, not meet emissions regulations, according to senior global product executive Jim Baumbick. The Ranger PHEV joins a growing collection of electrified Ford models in Australia that includes the all-electric Mustang Mach-E SUV and E-Transit and E-Transit Custom vans, as well as a plug-in hybrid version of the Transit Custom. All will serve as key pillars of Ford's initial response to the New Vehicle Emissions Standard (NVES) in Australia, with sales of the greener vehicles set to help offset fines accrued by dirtier models in the lineup such as diesel versions of the Ranger and the Everest SUV, as well as the petrol-powered Mustang sports car. However, Mr Baumbick says that Ford was working on diversifying its Ranger lineup well before the strict new emissions regulations were announced, and that the Ranger PHEV complements its other ute offerings. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. 'This is not a compliance play, it's a portfolio of options,' Mr Baumbick told Australian media at the international launch of the Ranger PHEV. 'At Ford, we want to let the customers choose so they can pick the right tool for the job. 'The regulatory requirements in Australia have changed very rapidly, faster than normal process. But we already had this in development, and we'll continue to enhance the portfolio. 'We're launching it now, but we didn't do this because of the new requirements. It's part of our overall mission to offer a portfolio of options.' Despite his insistence that the plug-in hybrid version of the Ranger wasn't an emissions-led project, Mr Baumbick admitted that Ford was caught on the back foot by tightening regulations across the globe. The ink officially dried on the Australian Government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it regulations designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. 'Going electric isn't a light switch,' explained Mr Baumbick. 'We're trying to move as fast as we can, and when things change quickly there are development lead times, so stay tuned. 'It's going to be a portfolio of solutions over a longer arch of time. We're going to continue to improve the efficiency and emissions of our systems and a migration to hybrids over time will make a big contribution to the challenge of reducing emissions. EV will play a significant role, but it's got to be the right tool for the job.' As for the other measures Ford is set to take to survive in the Australian market, the brand is committed to shielding consumers from the financial burden of NVES fines. 'We're not jacking up prices due to our regulatory status,' Mr Baumbick asserted. 'As we always have, we continue to work on our broader mission to improve year over year. Every model is going to continue to improve.'
Sky News AU
2 hours ago
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Prime Minister Anthony Albanese to attend string of high-level summits around the world amid global uncertainty and international conflicts
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