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Live: ASX tipped to slip, but Wall St closes on another record high

Live: ASX tipped to slip, but Wall St closes on another record high

Overnight in the US, Tesla shareholders approved CEO Elon Musk’s US$56 billion pay package, along with the proposal to move the company’s legal home from Delaware to Texas. Shareholders also approved other proposals including the re-election of two board members: James Murdoch (son of Rupert Murdoch), and Elon’s brother Kimbal Musk. Shareholders did increase the...

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ACCC warns Chemist Warehouse’s $8.8 billion merger could lead to higher prices and less competition

ACCC warns Chemist Warehouse’s $8.8 billion merger could lead to higher prices and less competition

In short: The ACCC says Chemist Warehouse’s proposed merger with Sigma Healthcare risks reducing competition, harming the pharmacy sector and consumers. Chemist Warehouse and Sigma Healthcare would become an $8.8 billion company if the merger were given the green light. What’s next? The ACCC is accepting submissions until June 27 and is expected to make...

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Qantas app ‘operating normally’ again for customers after earlier claiming issue had been ‘resolved’ — as it happened

Qantas app ‘operating normally’ again for customers after earlier claiming issue had been ‘resolved’ — as it happened

Treasurer Jim Chalmers spoke to Patricia Karvelas on Radio National this morning, where he was again asked about his plan to change Australia’s foreign investment system. We’ll hear more from him on this question when he delivers his speech to the Lowy Institute at 12:30pm. KARVELAS: Can you provide an example of a risky project...