Tonight’s guest on Close of Business, Kyle Rodda, says last night’s sell-off on Wall Street is part of a “potential correction”: “The NASDAQ is being dragged lower by mega-cap tech stocks, which are experiencing a rapid correction as some of the air comes out of the AI bubble. “The anomalous outperformance of small caps, which...
Tag: ASX200
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Live: Rental relief as Australia’s asking prices stabilise, while CrowdStrike shares slip further
You may have picked up on a theme in today’s blog — metal markets have jitters about future demand from China. The ABC’s chief business correspondent Ian Verrender‘s got you sorted for everything you need to know about the rising uncertainty over China’s economic output: In Beijing, the all-important Third Plenum, a summit that takes place...
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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
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
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...