Latest news with #Tomahawk
GMA Network
14 hours ago
- Entertainment
- GMA Network
From family table to fine dining: Chef Cristina Santiago continues father's legacy at this Makati steakhouse
Chef Cristina Santiago is keeping the memories of her late father alive at the new location of Carmelo's Steakhouse in Makati City. The Filipina restaurateur is the daughter of the late Carmelo "Melo" Santiago, a name that became synonymous with premium steak in Manila. In 1987, Melo's Steakhouse, a restaurant founded by Carmelo, broke ground as the first restaurant to offer Certified Angus Beef in the Philippines. Decades later, his legacy lives on, this time through Cristina's vision of a modern steakhouse rooted in family, nostalgia, and elevated dining. Cristina retained her father's recipe for the steak for Carmelo's, but her love for food presentation elevates the dishes. It's her way of injecting her personality into her dad's food legacy. "When I opened Carmelo's, I had to cook whatever my dad was cooking because these are all his recipes," Cristina told GMA News Online. "I don't want to touch anything that's already good," she added. "I'm just lucky because I have his taste buds." The main highlight of Carmelo's is, of course, the steak selection. True to her father's standards, Cristina ensures top-tier quality, sourcing Certified Angus Beef and Australian Wagyu and offering a range of cuts. Whether it's a solo lunch or a celebratory feast, there's a steak for every appetite, from personal-sized portions to shareable centerpieces like the Grilled Wagyu Ribeye (P609/oz.), Tomahawk (P329/oz.), and Tenderloin (P4,220). Cristina also added dishes inspired by her travels into the menu, like the Moules Marinieres (P850) inspired by Parisian meals with her dad, the Octopus Ala Plancha (P850) over cauliflower purée and gremolata, and the Tuna Tataki (P400) with homemade white miso. For pastsa, there's the Spinach Spaghetti Alle Vongole (P1,200), which features a briny depth with green noodles, and the Truffle Burrata Pasta (P1,200). Carmelo's Steakhouse is located at 2/F, Retail Row Proscenium Residences, Rockwell, Makati City. —CDC, GMA Integrated News
Miami Herald
3 days ago
- Politics
- Miami Herald
US Ally Doubles Down on Missiles Angering China
The Philippines' defense chief has again pushed back against China's claim that hosting U.S. missiles in the country amounts to a provocation. "It's none of China's business; it's for Philippine defense," Gilberto Teodoro said in a recent interview with 60 Minutes when asked to respond to Beijing's objections. China asserts sovereignty over most of the South China Sea, citing historical rights-a position that puts it at odds with competing claims by the Philippines and several other neighbors. In recent years, Manila has stepped up its response to China's growing presence within the Philippine maritime zone. Fierce clashes between Chinese and Philippine forces near disputed reefs have, on several occasions, left Philippine sailors injured. These incidents have put Manila's Mutual Defense Treaty with Washington in the spotlight, raising questions of whether U.S. forces could be drawn into a conflict with nuclear-armed China. Newsweek reached out to the Chinese Foreign Ministry with a request for comment outside of office hours. On the latest episode of 60 Minutes, which aired Sunday, Teodoro compared China to "the proverbial schoolyard bully." "It just muscles you over," he said. The conversation turned to the Mid-Range Capability, or "Typhon" missile launcher, which the U.S. Army deployed to the Philippines ahead of joint military drills in April. The system can be equipped with Tomahawk missiles-whose maximum range of 1,200 miles puts much of China's east coast within reach-as well as shorter-range Standard Missile 6s. Army officials have said the SM-6 is the only U.S. missile currently capable of intercepting a hypersonic missile, such as those possessed by China and Russia, in late flight. China has repeatedly called for the Typhon to be removed from the Philippines. Asked by interviewer Cecelia Vega whether the missiles are there to stay, Teodoro said he could neither confirm nor deny such a plan. "What happens within our territory is for our defense," he said. "We follow international law. What's the fuss?" Teodoro said he didn't know how the feud would end, but indicated the Philippines will not back down. "All I know is that we cannot let [China] get away with what they're doing." A Hague-based arbitral court's 2016 decision dismissed China's sweeping South China Sea claims. Beijing maintains that the ruling was politically motivated. The 60 Minutes interview aired just two weeks after a tense back-and-forth between Teodoro and senior Chinese defense officials at the Shangri-La Dialogue defense forum in Singapore, where the Philippine official said a "deficit of trust" in China was the greatest obstacle to a solution to tensions in the South China Sea. Ray Powell, the director of the Stanford University-affiliated maritime analysis group SeaLight, told 60 Minutes: "China has decided that at this point in their history, they are large enough so they can buck the law." U.S. Secretary of Defense Pete Hegseth said at the Shangri-La Dialogue defense summit in Singapore on May 31: "We're watching very closely China's destabilizing actions, and any unilateral attempt to change the status quo in the South China Sea and the First Island Chain-by force or coercion-is unacceptable." Chinese Foreign Ministry spokesperson Guo Jiakuntold reporters in February: "The Philippines has worked with the U.S. to bring in the Typhon system. It's placing its national security and defense in the hands of others and introducing geopolitical confrontation and the risk of an arms race into the region…China will not sit idly by when its security interests are harmed or threatened." Speaking with Newsweek on the sidelines of the Shangril-La Dialogue, Teodoro said Manila would seek to increase deterrence against China's activities in the Philippine exclusive economic zone by pushing for "international resonance" and "building up capability resilience." The Philippines is expected to continue holding joint military exercises with the U.S. and other countries concerned with China's growing assertiveness, including Japan and Australia. Last year, the U.S. pledged $500 million in military aid to its Southeast Asian ally. Related Articles US Aircraft Carrier USS George Washington Counters China Navy PresenceChina Touts Weapons Capabilities As Iran's Defenses CollapseWhy Trump Needs Tesla | OpinionMap Shows World's Nuclear Stockpiles As China Warheads Increase 2025 NEWSWEEK DIGITAL LLC.
Newsweek
3 days ago
- Politics
- Newsweek
US Ally Doubles Down on Missiles Angering China
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Philippines' defense chief has again pushed back against China's claim that hosting U.S. missiles in the country amounts to a provocation. "It's none of China's business; it's for Philippine defense," Gilberto Teodoro said in a recent interview with 60 Minutes when asked to respond to Beijing's objections. Why It Matters China asserts sovereignty over most of the South China Sea, citing historical rights—a position that puts it at odds with competing claims by the Philippines and several other neighbors. In recent years, Manila has stepped up its response to China's growing presence within the Philippine maritime zone. Fierce clashes between Chinese and Philippine forces near disputed reefs have, on several occasions, left Philippine sailors injured. These incidents have put Manila's Mutual Defense Treaty with Washington in the spotlight, raising questions of whether U.S. forces could be drawn into a conflict with nuclear-armed China. Newsweek reached out to the Chinese Foreign Ministry with a request for comment outside of office hours. What To Know On the latest episode of 60 Minutes, which aired Sunday, Teodoro compared China to "the proverbial schoolyard bully." "It just muscles you over," he said. The conversation turned to the Mid-Range Capability, or "Typhon" missile launcher, which the U.S. Army deployed to the Philippines ahead of joint military drills in April. The system can be equipped with Tomahawk missiles—whose maximum range of 1,200 miles puts much of China's east coast within reach—as well as shorter-range Standard Missile 6s. Army officials have said the SM-6 is the only U.S. missile currently capable of intercepting a hypersonic missile, such as those possessed by China and Russia, in late flight. A U.S. "Typhon" launcher is seen in Northern Luzon in the Philippines on April 8, 2024. A U.S. "Typhon" launcher is seen in Northern Luzon in the Philippines on April 8, 2024. Ryan DeBooy/U.S. Army China has repeatedly called for the Typhon to be removed from the Philippines. Asked by interviewer Cecelia Vega whether the missiles are there to stay, Teodoro said he could neither confirm nor deny such a plan. "What happens within our territory is for our defense," he said. "We follow international law. What's the fuss?" Teodoro said he didn't know how the feud would end, but indicated the Philippines will not back down. "All I know is that we cannot let [China] get away with what they're doing." A Hague-based arbitral court's 2016 decision dismissed China's sweeping South China Sea claims. Beijing maintains that the ruling was politically motivated. The 60 Minutes interview aired just two weeks after a tense back-and-forth between Teodoro and senior Chinese defense officials at the Shangri-La Dialogue defense forum in Singapore, where the Philippine official said a "deficit of trust" in China was the greatest obstacle to a solution to tensions in the South China Sea. What People Have Said Ray Powell, the director of the Stanford University-affiliated maritime analysis group SeaLight, told 60 Minutes: "China has decided that at this point in their history, they are large enough so they can buck the law." U.S. Secretary of Defense Pete Hegseth said at the Shangri-La Dialogue defense summit in Singapore on May 31: "We're watching very closely China's destabilizing actions, and any unilateral attempt to change the status quo in the South China Sea and the First Island Chain—by force or coercion—is unacceptable." Chinese Foreign Ministry spokesperson Guo Jiakun told reporters in February: "The Philippines has worked with the U.S. to bring in the Typhon system. It's placing its national security and defense in the hands of others and introducing geopolitical confrontation and the risk of an arms race into the region…China will not sit idly by when its security interests are harmed or threatened." What's Next Speaking with Newsweek on the sidelines of the Shangril-La Dialogue, Teodoro said Manila would seek to increase deterrence against China's activities in the Philippine exclusive economic zone by pushing for "international resonance" and "building up capability resilience." The Philippines is expected to continue holding joint military exercises with the U.S. and other countries concerned with China's growing assertiveness, including Japan and Australia. Last year, the U.S. pledged $500 million in military aid to its Southeast Asian ally.
Business Insider
12-06-2025
- Business
- Business Insider
Broadcom Stock (AVGO) Primed to Maintain Long-Term Uptrend as Indices Return to Mean
Broadcom (AVGO) presents a strong investment opportunity, driven by its strategic focus on value creation within the rapidly evolving advanced technology space. As a key enabler of AI, Broadcom goes beyond hardware—its high-margin ecosystem, powered by AI and enterprise software, adds significant long-term appeal. While the stock may appear expensive at first glance, its valuation is justified by the company's foundational role in AI infrastructure and the robust, secular growth trends it continues to ride. Confident Investing Starts Here: In terms of raw performance, AVGO stock has outperformed the market by a substantial margin over the past year. Further underpinning the bullish theme, broader U.S. stock indices such as the Dow Jones, Nasdaq, and S&P 500 are all back at their historic highs, having shaken off the macroeconomic shock of a U.S.-China trade war. Given the solid fundamentals and strong outperformance, I think AVGO serves as a superb addition to any investor's portfolio; I'm stoutly bullish. Broadcom Is a Next Generation Technology Enabler Broadcom's latest quarterly results underscore the flawless execution of its strategy. The company reported impressive revenue of $15 billion, up 20% year-over-year. AI Semiconductor sales surged 46% to $4.4 billion, while Infrastructure Software revenue reached $6.6 billion, marking 25% growth. Free cash flow reached $6.4 billion, accounting for 43% of revenue and representing a 44% year-over-year increase. Guidance for fiscal Q3 2025 further strengthens the bullish outlook. Broadcom projects $15.8 billion in total revenue, reflecting a 21% year-over-year increase. AI Semiconductor sales are expected to rise 60% to $5.1 billion, and Infrastructure Software revenue is projected to grow 16% to $6.7 billion. These results and forward-looking projections reflect Broadcom's consistent value creation and operational discipline. Under CEO Hock Tan's leadership, the company has demonstrated mastery in driving growth, executing strategic mergers and acquisitions, and optimizing internal efficiencies—all with a clear focus on long-term shareholder value. Broadcom Is Constructing an AI Infrastructure Fortress Broadcom sits at the heart of the AI boom, strategically investing in custom silicon and high-performance networking, both of which are foundational to the long-term economics of AI infrastructure. Major hyperscalers are increasingly relying on Broadcom's custom application-specific integrated circuits (ASICs) to power their AI workloads, and this reliance is poised to grow. CEO Hock Tan projects the current 60% year-over-year growth in AI semiconductor revenue will extend into Fiscal 2026, driven by the multi-year expansion of AI infrastructure, the rising complexity of AI models, and continued investment across both training and inference. Beyond custom silicon, Broadcom is a significant force in AI networking through its Tomahawk and Jericho switch families—critical technologies for interconnecting large-scale AI clusters. The Tomahawk 6, for example, delivers up to 102.4 terabits per second of switching capacity, enabling the performance demands of next-gen AI systems. AI networking, which already accounts for approximately 40% of Broadcom's AI revenue, is expected to grow sharply, and a year-over-year increase exceeding 170% in this segment would not be surprising. Broadcom Also Has a Software Profit Engine Despite initial skepticism, Broadcom's acquisition and integration of VMware has been a masterful example of disciplined, long-term value creation. Broadcom's strategy for VMware to become a high-margin, recurring software business is beginning to take shape. Broadcom has made significant strides in converting VMware's customers to a subscription-based business model. For example, greater than 87% of VMware's top 10,000 customers have adopted the VMware Cloud Foundation (VCF) subscription, with the conversion expected to occur primarily over the next 12-18 months. This change has significantly improved Broadcom's infrastructure software operating margins, which increased from 60% to 76% in Fiscal Q2 2025. I expect further margin improvement as the company continues to roll off legacy contracts and solidify its subscription base. Financial Masterplanning at Broadcom Broadcom exemplifies disciplined financial management, with robust free cash flow and strong returns on deployed capital forming the backbone of its investment appeal. In Fiscal Q2 2025, the company delivered a record $6.41 billion in free cash flow—an impressive 43% of revenue—and this level of cash generation is expected to persist. Free cash flow remains the engine that drives Broadcom's ability to invest, deleverage, and return capital to shareholders. Following its earnings release, Broadcom reduced its gross principal debt from $69.4 billion to $67.8 billion, reaffirming its commitment to maintaining a 2x debt-to-EBITDA ratio. Management has been clear: cash not allocated to dividends will be prioritized for debt reduction. At the same time, Broadcom continues to return capital to shareholders on a large scale. In Q2 alone, the company paid out $2.8 billion in dividends and repurchased $4.2 billion in stock. In April, the Board authorized a new $10 billion share repurchase program, which will run through the end of 2025, signaling strong internal confidence in the company's long-term prospects. As free cash flow accelerates and debt is further reduced, this disciplined approach could create a compounding effect on earnings per share. Should the stock experience a pullback to technical support levels, I believe it could present an attractive entry point toward achieving a 30% annual return target. Is Broadcom a Buy, Sell, or Hold? Broadcom has a consensus Strong Buy rating on Wall Street based on 27 Buys, two Holds, and zero Sells. The average stock price target for AVGO is $289.60, indicating a potential return of 18% over the next 12 months. I'm Staying Bullish on Broadcom In my view, the convergence of accelerating AI-driven revenue, expanding high-margin software contributions from VMware, and Broadcom's disciplined capital allocation creates a particularly compelling investment case. These factors form the core of my thesis for achieving an annual return in the 30% range over the coming years. While the company continues to actively pursue strategic acquisitions, it is also steadily building long-term value through foundational infrastructure and prudent financial stewardship. With strong momentum, exceptional leadership, and a clear growth runway, Broadcom stands out as a high-quality opportunity in a transformative sector.
Yahoo
11-06-2025
- Business
- Yahoo
Trump trade deal shows how vital China's rare-earth metals are to US defense firms
The draft trade agreement with China announced by Donald Trump on Wednesday would ease concerns from top US military suppliers about rare-earth metals and magnets that, if cut off permanently, could hobble production of everything from smart bombs to fighter jets to submarines and other weapons in the US arsenal. While the deal has not yet been finalised, it may reassure major defense companies such as Lockheed Martin, the largest US user of samarium – a rare-earth metal used in military-grade magnets – whose supply is entirely controlled by China. The issue of China's export restrictions on the metals and magnets was so important that Trump specifically mentioned them as part of his announcement of a broader trade agreement with China that would reduce US tariffs to 55% and Chinese tariffs to 10%. Related: Trump says China will face 55% tariffs as he endorses trade deal 'Our deal with China is done, subject to final approval with President Xi and me,' Trump wrote. 'Full magnets, and any necessary rare earths, will be supplied, up front, by China.' Rare earths are crucial to the production of F-35 fighter jets, Virginia- and Columbia-class nuclear-powered submarines, Tomahawk missiles, radar systems, unmanned aerial vehicles and smart bombs, according to Gracelin Baskaran of the Center for Strategic and International Studies, a thinktank. China in April imposed export restrictions on seven rare earth elements during the tough negotiations over Trump's new tariffs. China also targeted the aerospace and defense industries by limiting 15 US entities with ties to the industry from receiving dual-use goods. 'The United States is already on the back foot when it comes to manufacturing these defense technologies,' Baskaran said in an interview published by CSIS. 'China is rapidly expanding its munitions production and acquiring advanced weapons systems and equipment at a pace five to six times faster than the United States. While China is preparing with a wartime mindset, the United States continues to operate under peacetime conditions.' Trump has amassed a team of foreign policy China hawks, including a number who have warned that the US should focus more on the pacing threat posed by China over the coming decades instead of current conflicts in Ukraine or the Middle East. 'Even before the latest restrictions, the US defense industrial base struggled with limited capacity and lacked the ability to scale up production to meet defense technology demands,' she continued. 'Further bans on critical minerals inputs will only widen the gap, enabling China to strengthen its military capabilities more quickly than the United States.' China and the US had agreed last month in Geneva to pause the implementation of sky-high tariffs that would have delivered a severe economic blow to manufacturers and consumers in the US, as well as exporters in China. But China maintained export licenses on rare-earth metals used by both defense producers and carmakers that threatened to upend global supply chains and imperil production in the US. In particular, China has a stranglehold on the production and export of samarium, a magnet used in combination with cobalt to provide highly durable magnets used to withstand the intense temperatures in military-grade tech. China produces the entire world's supply of the rare-earth metal. In particular, the magnets are important for the production of guided missiles, satellite-guided 'smart bombs', and aircrafts, including fighter jets, according to Apex Magnets, a supplier. Those supplies of weapons have been depleted through deliveries of missiles and other ordnance to Ukraine and to the Israeli military. Pentagon planners and other officials in the administration of Joe Biden, regularly squared off over whether foreign weapons deliveries expose a US vulnerability in case it faced off with a major military power. In order to break the deadlock, secretary of state Marco Rubio also abruptly announced plans to cancel hundreds of thousands of visas for Chinese students in the US. While publicly that was said as a plan to root out Chinese spies in US higher education, Axios reported that the visa ban was also motivated by China's obstinance on resuming rare earths exports. The breakthrough comes as Trump is planning to display US military prowess at a parade in Washington DC this weekend that has been seen as an attempt to flex American muscle and reinforce the US president's bonafides as a supporter of the military. Trump in 2019 ordered the Pentagon to find new sources of procuring rare earth minerals, in particular samarium, because the US did not have the capacity to produce them domestically. The initiative was 'essential to the national defense', he said then. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
