At noon, the S&P/ASX 200 is 0.42 per cent lower at 7,141.20. Oil prices are on track for a weekly gain due to several factors. OPEC+ leaders, Saudi Arabia and Russia, have decided to extend supply cuts through the end of the year. West Texas Intermediate (WTI) crude oil is currently around $87 per barrel, […]
ASX down 0.42% at noon: Oil prices on track for weekly gain Read More »
Some of the globe’s largest investment banks and tech giants are making every effort to rescue the global IPO market from a second disastrous year by vigorously promoting the relisting of chipmaker Arm. ARM is being hailed as the most significant and buzzworthy IPO in years, with its relisting on Wall Street, a British chip
Tech titans and banks revive IPO market with ARM’s relisting Read More »
Australian mineral explorers overwhelmingly targeted existing deposits for drilling campaigns in 2022-23, rather than seeking completely new prospects, according to the annual exploration spending data from the Australian Bureau of Statistics. While many investors may have been disappointed by this shift (as there’s nothing like a new discovery to boost share prices), extending existing finds
Australian mineral explorers shift focus to existing deposits in 2022-23 Read More »
In a country grappling with lackluster demand and trade, August proved to be a robust month for imports of commodities vital to Australia’s economy. Overall, import figures were on the rise, owing in part to the rebound from the low demand levels of the previous year, which had been influenced by stringent Covid restrictions. While
US bank Goldman Sachs has issued a warning to its clients that oil prices could reach above $100 per barrel next year if Russia and Saudi Arabia maintain their aggressive supply cuts, which were recently extended for another four months. Brent crude has already exceeded $90 a barrel following these cut extensions, marking a 4%
Oil prices may hit $100 in 2024 Read More »
The Nasdaq Composite fell for a fourth session Thursday as concerns resurfaced over the Federal Reserve’s interest rate policy path, as the latest jobless claims data has come in. The tech-heavy Nasdaq sold off 0.89 per cent to end at 13,748.83, while the S&P 500 slipped 0.32 per cent to finish at 4,451.14. The Dow
Nasdaq drops as weekly jobless claims disappoint Read More »
Apple is set to release its new iPhone 15 range next Tuesday, September 12, but uncertainty looms over its significant Chinese market. In the past two days, Apple’s shares have plummeted by nearly 7%, triggered by reports in the US media alleging that the Chinese government has banned some of its employees from bringing iPhones
Apple’s iPhone 15 launch amidst Chinese market doubt Read More »
08 Sep 2023 – The Nasdaq Composite fell for a fourth session Thursday as concerns resurfaced over the Federal Reserve’s interest rate policy path, as the latest jobless claims data has come in.
Nasdaq drops as weekly jobless claims disappoint Read More »
Australia’s economic growth for the June quarter of 2022-23 could have been significantly stronger were it not for a sharp depletion of business inventories, particularly in the major mining and rural export sectors. Iron ore, coal, and other mining companies, as well as grain companies like GrainCorp, drew down on their stockpiles to fulfill contracts
Inventory depletion hampers Australia’s economic growth in Q2 2022-23 Read More »
A sharp decline in shipments of non-monetary gold and a surge in the value of car and truck imports, coupled with weaker demand and prices for some key commodities, marked a lackluster start to Australia’s financial year 2023-24 in July. The Australian Bureau of Statistics (ABS) reported on Thursday that the seasonally adjusted trade surplus
