July 2024

The markets regulator, ASIC, has launched civil legal action against subsidiaries of COFCO, China’s biggest food processor and manufacturer, alleging they “manipulated the ASX24 market for Eastern Australia Wheat futures January 2023 contracts.” (COFCO Group is China’s largest food processor, manufacturer, and trader. It is also one of Asia’s leading agribusiness groups. Its headquarters are […]

Airlines are preparing for the end of the “revenge travel” surge by cutting ticket prices to fill surplus seat capacity as the two-year post-pandemic travel boom transitions to a more uncertain outlook. Carriers such as Ryanair and Emirates reported record profits last year, driven by strong passenger demand and high ticket prices, which helped offset

Ford shares fell 12% at one stage in after-hours trading after it surprised the markets with a less-than-encouraging June quarter report. The report contained news that its EV division lost $US1.14 billion in the quarter and that warranty costs soared again. The shares later edged higher but were still down more than 11% at 7:50

Elon Musk’s ‘other world’ approach to corporate reporting caught up with him and Tesla on Wednesday, with the shares shedding 12% of their value and helping drag Wall Street stocks lower. Other factors also contributed to Wall Street’s slide in another multi-year slump. For instance, Alphabet’s $5 billion casually invested in the loss-making Waymo self-driving

Earnings results from Tesla & Alphabet after the market close on Tuesday US time triggered a selloff in both stocks in the session which dragged other mega tech names down in sympathy. The broader S&P 500 shed 2.31 per cent on the day, while the tech-heavy Nasdaq gave up 3.64 per cent, their worst session

The Australian sharemarket fell on Wednesday, with the S&P/ASX 200 Index dropping 0.1% due to declines in energy and property stocks. Despite a rebound in crude oil prices, major energy companies like Woodside Energy, Ampol, and Viva Energy saw losses, contributing to the market’s dip. Futures The Dow Jones futures are pointing to a fall

A day after revealing it had secured a significant portion of the funding needed for its Nolans rare earth mine in the Northern Territory, Arafura (ASX:ARU) shares went into a trading halt as the company began a stock market-based raising. Arafura Rare Earths asked the ASX on Wednesday to halt trading in its shares until

Germany’s largest lender, Deutsche Bank, reported a loss for the first time in 15 quarters on Wednesday, as it set aside funds for an ongoing lawsuit related to its Postbank division. The bank reported a net loss of 143 million euros ($155.1 million) attributable to shareholders, slightly better than the 145 million euros loss anticipated

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses populism. Key pointsThe continuing rise of populism globally – as evident in recent European elections and in the US with Trump and the Republican party – is signalling an ongoing shift away from economic rationalist policies in favour of greater government involvement

There was a very telling contrast in the quarterly reports from General Motors, Tesla, and Alphabet (Google) on Tuesday. Tesla CEO Elon Musk started one of his X polls (Twitter), asking his fans whether Tesla should spend $5 billion on AI. Meanwhile, Alphabet revealed it had invested another $5 billion into its self-driving car unit,