Wall Street stocks rose and the Dow Jones Industrial Average hit an all-time closing high on Tuesday after US retail sales data supported the view that the Federal Reserve is approaching its easing cycle, reining in inflation while avoiding a recession. All three major US stock indexes advanced on the day, but weaker megacap growth stocks, led by...
Tag: Australian company
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Almond company and nuclear medicine maker both soaring on the ASX today — as it happened
The ACCC has instituted proceedings in the Federal Court against The Good Guys Discount Warehouses (Australia), for allegedly making false or misleading representations about its store credit and “StoreCash” promotions, and failing to provide store credit to eligible consumers, in breach of the Australian Consumer Law. The Good Guys ran 116 promotions between July 2019...
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Online retailer Booktopia collapses, ASX follows Wall Street’s lead to finish higher — as it happened
Wall Street’s main stock indexes closed higher on Tuesday, boosted by gains in Tesla and megacap growth stocks, but volumes were thin ahead of the July Fourth holiday and the closely watched release of June nonfarm payrolls on Friday. The US Job Openings and Labor Turnover Survey, or JOLTS, showed job openings increased in May...
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ASX shares fall a day after interest rates decision, Nvidia overtakes Microsoft on value — as it happened
Our Chief Business Correspondent, Ian Verrender has penned this great analysis on what’s going on with the Australian dollar. The Aussie dollar has bounced a little this morning as forex traders weighed up the impact of global interest rate moves. RBA governor Michele Bullock yesterday made clear that domestic interest rates are likely to stay...
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Live: ASX to rise ahead of key employment data, US Fed flags one rate cut this year
The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year amid rising estimates for what it will take to keep inflation in check. In a set of projections that likely removes...
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Live: ASX slips as Telstra reveals job cuts, Nasdaq and gold hit record highs
Good morning! I’ll be here to guide you through the latest business and economic news. The Australian share market was very close to hitting a record high yesterday. Though it looks like investors will be doing some profit-taking today as the market is on track to open slightly lower this morning (ASX futures are down 0.2%)....
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Live: Wage rises slow, the ASX is up, and Anglo American to sell Queensland coal mines
Anglo American has laid out plans to refocus on energy transition metal copper while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off BHP Group’s $64.4 billion raised takeover offer. The announcement comes a day after the London-listed miner rejected its Australian suitor for the...
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Gas stocks soar after Albanese government releases its ‘Future Gas Strategy’, CBA third-quarter cash profit falls 7pc — as it happened
The Australian Chamber of Commerce and Industry (ACCI) has joined the Australian Energy Producers in welcoming the government’s future gas strategy. Australian businesses will be relieved by the federal government’s recognition that gas has a vital role in the nation’s transition to net zero. A comprehensive strategy is needed to stabilise the gas market and provide...
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Australian company’s incredible ‘work from holiday’ policy
When it comes to enticing new talent, many companies use working from home policies to boost their employment packages. But one Aussie firm has gone one better than that and now offers an incredibly attractive “working from holiday” perk. CEO of health food company Carman’s Kitchen, Carolyn Creswell, revealed the popular initiative on Q&A on...
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Live: NAB half-year profit drops 11.9pc, ASX up at lunch after Federal Reserve indicates US rate hike is ‘unlikely’
And now a guest post from our Senior Business Correspondent Peter Ryan, who has been covering NAB’s results today and sat down for a one on one interview with Andrew Irvine: The newly-appointed head of the National Australia Bank has called out violence against women and says while major steps have been made to stamp...