Tesla shareholders approved CEO Elon Musk’s substantial share pay package, but it will still be decided by a court in Delaware, even though shareholders also voted to move the company’s U.S. domicile from that state to Texas. Tesla held its annual meeting in Austin, Texas, where it is a major employer with its second U.S. […]
Musks $56 billion pay package approved by shareholders Read More »
As clever economists, analysts, and others try to determine when the one rate cut by the US Federal Reserve will occur this year, they should keep in mind that we are only one poor monthly inflation reading away from having no rate cuts in 2024. Even though the May consumer price data was slightly lower
The Fed’s rate cute dilemma Read More »
Apple has finally regained the top position as the most valuable company globally. It briefly topped Microsoft on Wednesday but eased in late trading. On Thursday, Apple shares rose 0.55% to end the day in the top position with a value of $US3.29 trillion, surpassing Microsoft by $US100 million, whose shares rose 0.12%. The third
Apple reclaims top spot as most valuable company globally Read More »
A stark warning from the International Energy Agency (IEA) indicates that the surge in oil production in the US will lead to a significant glut in global markets much sooner than OPEC and its allies, like Russia, anticipate. The IEA states that the continuing rise in US output, expected to surpass the current 13.1 million
IEA warns of impending global oil glut Read More »
Sequoia Financial Group (ASX:SEQ) has confirmed that Sequoia Corporate Finance (SCF) a 100% owned subsidiary of Sequoia acted as sole lead manager to the Initial Public Offering (IPO) of Chilwa Minerals Limited (ASX:CHW) onto the ASX in July 2023. We are pleased to acknowledge that Chilwa was named as the 2023 ASX IPO of the
Chilwa named 2023 ASX IPO of the Year Read More »
Gold, copper, and silver fell on Thursday after the US dollar bounced higher. Oil was also easier, but iron ore rose. This occurred despite a lower-than-forecast outcome for US producer prices in May, which fell 0.2% after April’s 0.5% jump. The surprise saw the US dollar edge higher, but US 10-year bonds traded under 4.30%
US dollar surge sends precious metals lower Read More »
Sigma Healthcare (ASX:SIG) shares fell more than 9% at one stage on Thursday after its proposed $8.8 billion merger with the massive Chemist Warehouse encountered potential competition issues with the key regulator, the ACCC. The shares rebounded after the early drop as supporters of the deal started talking up the stock and downplaying the competition
Sigma Healthcare shares drop amid ACCC concerns Read More »
The S&P 500 and Nasdaq both set a fourth consecutive closing record as fresh inflation data pointed to a further easing in price pressures. The S&P 500 closed 0.23 per cent higher at a record 5,433.74, while the Nasdaq added 0.34 per cent to also close at a record 17,667.56. The Dow Jones again failed
S&P 500 sets another record on easing inflation data Read More »
Australian shares rebounded on Thursday, with the S&P/ASX 200 gaining 0.4% to reach 7749.7 points, driven by increases in sectors sensitive to interest rates such as property, banking, and technology. This rise halted a two-day decline influenced by lower commodity prices. The momentum in Australian markets mirrored Wall Street’s performance, where the S&P 500 surged
ASX gains 0.4%: Interest rate sensitive sectors boost Aus markets Read More »
The competition regulator, the ACCC, has raised questions about the planned $8.8 billion backward merger between Sigma Healthcare (ASX:SIG) and Chemists Warehouse, citing ‘competition concerns’. In a statement issued Thursday morning, the Commission said it was outlining “preliminary competition concerns” with Sigma’s proposed acquisition of Chemist Warehouse Group Holdings in a Statement of Issues. “This
ACCC raises competition concerns over Sigma Healthcare and Chemists Warehouse merger Read More »
