July 6, 2023

In a promising sign for the U.S. labour market, private sector companies added a robust 497,000 jobs in June, according to a report released by payroll processing firm ADP on Thursday. The figure far exceeded market expectations and represented a substantial increase from the downwardly revised 267,000 jobs created in May. Economists had predicted a […]

In an astonishing achievement, Meta’s Threads app has garnered over 10 million users within a mere 7 hours since its launch. This remarkable growth showcases the power of Meta’s existing scale and distribution, along with the demand for an alternative to Twitter. With its integration with Instagram, which boasts an astounding 1.6 billion users, Threads

In a tumultuous turn of events, Queensland-based mining company Aurora Metals has collapsed, leaving a trail of debts totaling approximately $170 million. The company’s financiers have appointed receivers over the top of administrators, leaving small trade creditors at the back of the queue for potential repayments. KordaMentha, the appointed administrator, is currently working through Aurora

The World Gold Council (WGC) expects the yellow metal to hold firm over the rest of 2023, despite some price weakness in the past month and a bit. The Council says its latest research shows investors should not give up on gold in the second half of the year. In their half-year review, WGC analysts

L Catterton, a private equity firm with the backing of luxury goods giant LVMH, is currently considering various strategic alternatives for Birkenstock. Bloomberg News revealed on Thursday that one of the options being explored is an IPO, which could value Birkenstock at a staggering $9 billion (US$6 billion) or more. According to sources familiar with

US stocks slid overnight after better-than-expected jobs data increased investors’ anxiety around the state of the economy and the path of interest rates. The data from the ADP showed that private sector jobs increased by 497,000 in June, in the biggest monthly gain since July 2022. June’s increase was more than double the Dow Jones

The Australian dollar briefly dropped 0.6 per cent to a low of US66.34 against the US dollar as sentiment continues to deteriorate across Asian markets. The dollar was buying US66.52c in afternoon trade and Commonwealth Bank analysts expect risk appetite to further fall and weigh on AUD as the global and Chinese economic outlook weakens.

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the share rebound. Key pointsAfter the rough ride of 2021-22, 2022-23 turned out to be a good one for investors as shares rebounded thanks to falling inflation and hopes rates are near the top.Shares are at risk of a pull back as

In the face of mounting speculation about tensions between Saudi Arabia and its oil ally Russia, Saudi Energy Minister Prince Abdulaziz bin Salman categorically dismissed such talk and instead praised the coordinated efforts of both nations to remove barrels from the market. The primary objective of this joint action is to stabilise oil prices amidst