July 20, 2023

The recent disclosure by Tesla’s CEO, Elon Musk, regarding potential further price cuts triggered a near 10% nosedive in the company’s shares to $US262.90. The possible price reductions follow a series of cuts the electric vehicle manufacturer implemented this year, resulting in a decrease in US starting prices ranging from 14% to 28%, depending on […]

Australia’s historically low unemployment rate, touted as one of outgoing Reserve Bank of Australia governor Philip Lowe’s notable achievements, could present challenges for his successor, Michele Bullock. Despite the central bank’s efforts to increase interest rates over the past thirteen months, the unemployment rate remains near a 50-year low of 3.5 percent, only marginally higher

The Dow Jones Industrial Average jumped for a ninth consecutive day overnight. It was the Dow’s best daily winning streak since 2017. But the broader market suffered after post-earnings declines in trader favourites Netflix and Tesla. Shares of Netflix dropped more than 8 per cent after the streaming giant posted revenue that fell short of

At the closing bell, the S&P/ASX 200 was 0.02 per cent higher at 7,325.00. The markets experienced a slowdown in momentum as a result of strong employment data, which led traders to increase their expectations of another interest rate hike by the Reserve Bank on August 1. Futures The Dow Jones futures are pointing to

Australia’s largest landlords have recently downgraded the values of their office block portfolios, but investors are seeking deeper discounts amid a significant gap between public and private valuations. While publicly traded commercial real estate markets have experienced a sharp decline, the impact on unit prices has not been fully reflected in asset valuations. This has

BHP (ASX:BHP) has released its operational review for the financial year ended 30 June 2023. The review highlights the company’s production achievements, financial performance, portfolio developments, and commitment to safety and sustainability. This article provides a factual overview of the key points presented in the operational review. Production Achievements During the financial year, BHP achieved

Santos (ASX:STO) has announced strong financial and operational performance in its second-quarter report for 2023. The company achieved sales revenue of AU$1.3 billion during the quarter, indicating robust sales performance. Additionally, production reached 22.8 million barrels of oil equivalent (mmboe), a significant increase compared to the previous quarter. This growth was primarily driven by higher

Telstra (ASX:TLS) has confirmed its decision to cut 472 jobs in an effort to automate operations and better compete with software-based communications firms. The company aims to achieve cost savings of approximately $500 million as part of its T25 strategy, which involves an overhaul of its operations and a review of its workforce. The majority