August 8, 2023

In a troubling sign of the times, the Australian retail landscape is grappling with an ongoing decline as retail sales continue to tumble, signaling the harsh impact of the prevailing cost-of-living crisis on consumer spending patterns. Recent data released by the ABS has revealed a disheartening 0.5% drop in retail sales during the June quarter, […]

Stocks retreated Tuesday as an August selloff was reignited by a downgrade of the banking sector by credit rating agency Moody’s. The Dow Jones Industrial Average was down 158.64 points, or 0.45 per cent, to close at 35,314.49. At session lows, the index dropped about 465 points. The S&P 500 dipped 0.42 per cent to

Moody’s, the sole major rating group maintaining Australia’s AAA credit standing after Fitch’s recent downgrade to AA+, has shifted its focus onto the credit ratings of Australian banks. On Monday night, Moody’s delivered its verdict, revealing its concerns about the sector. In a surprising move, Moody’s downgraded the credit ratings of more than two dozen

Goldman Sachs predicts a continued decline in iron ore prices this year due to a looming surplus in the physical market and increasing worries about China reducing its steel output, with the current 11.6% drop in iron ore futures from their recent high of US$114.95 to US$101.65 per tonne expected to worsen by a further

The Diggers and Dealers Mining Forum, an annual event that brings together industry leaders, investors, and experts in the mining sector, was held for the 32nd time in the historic goldfields town of Kalgoorlie. This year’s forum was marked by the presence of 2,500 delegates representing nearly 1,000 companies. The event served as a platform

The S&P/ASX 200 index is trading 0.14 per cent higher at 7,319.60. Moving on to futures, the SPI futures are up 14 points, indicating a promising session ahead. Let’s take a look at the best and worst performers today. Health Care is leading the way, up 0.51 per cent, while Consumer Staples is struggling, down

In a strategic move to bolster its position in the global energy market, Woodside (ASX:WDS) has announced a landmark agreement with LNG Japan. The deal comprises three key elements: equity in the Scarborough Joint Venture, potential LNG offtake, and collaboration on ventures in the emerging new energy sector. Woodside’s CEO, Meg O’Neill, welcomed LNG Japan

In something of a surprise, the National Australia Bank’s (ASX:NAB) latest monthly business survey not only confirmed continuing resilience in business conditions and confidence but also highlighted an uptick in what it called “inflation-related measures.” The NAB economics team says that uptick challenges “expectations that the economy would continue to cool as 2023 wears on.”