June 2023

Stocks fell Wednesday as investors took a breather from last week’s market rally, and weighed Federal Reserve Chair Jerome Powell’s latest comments on inflation. Powell said Wednesday that more rate hikes are likely ahead as the central bank tries to combat inflation. Those comments come after the conclusion of last week’s meeting when the central

On Wednesday, the S&P/ASX 200 experienced its first drop in seven days, declining by 0.6 per cent. This was primarily driven by a 1.3 per cent decrease in the energy sector and a 1 per cent retreat in the materials sector. Futures The Dow Jones futures are pointing to a fall of 44 points.The S&P

As suspected, China has extended the purchase tax subsidy (for varying amounts) for new energy vehicles (battery and plug-ins) for four more years. The tax break will not start until January 1 next year, and there will be maximum amount limits for the first two years and a lower limit for the following two years.

Newmont has begun cutting its planned investment spending on new projects following the proposed US$17.8 billion takeover of Newcrest (ASX:NCM). The world’s largest gold miner recently announced that its least profitable project in Peru would be deferred for at least two years, possibly longer. This decision marks the third deferral concerning the US$2.5 billion Yanacocha

Telstra (ASX:TLS) and TPG Telecom (ASX:TPG) will not be able to share infrastructure across regional Australia, as the competition tribunal upheld the decision to block the deal. The Australian Competition Tribunal (ACT) serves as the final arbiter for competition issues in the country, often used by companies whose deals have been blocked by the Australian

BHP (ASX:BHP) has announced that it will not accelerate its decarbonisation plans beyond its existing target of reducing emissions by 30 percent by 2030. The company’s head of management, Graham Winkelman, made this statement during an investor briefing, emphasising that BHP intends to focus on taking concrete actions to address its scope 1 and 2

In a significant development for the office and industrial property sector, Dexus (ASX:DXS) , a prominent Australian real estate group, has announced a reduction in the book value of numerous properties. This move, amounting to approximately $1 billion, translates to a 6% decrease in prior book values. The decision was prompted by an independent expert’s

Trans Tasman building products giant, Fletcher Building (ASX:FBU) has trimmed its 2022-23 earnings outlook 9 days before it rules off its books for the financial year and given a big hint that the new financial year will be tough. The company told an investor day streamed to both sides of the Tasman on Wednesday that