July 2024

There’s Elon Musk, wasting time endorsing Donald Trump while Tesla’s share of US electric vehicle sales slowly falls below 50% for the first time in the three months to June. Tesla accounted for 49.7% of electric vehicles sales from April through June, down from 59.3% a year earlier. Its US sales fell 6.35 in the […]

Shares in luxury goods maker, Burberry plunged 16% on Monday after a disappointing first-quarter performance saw it issue a profit warning, replace its CEO and axe its dividend. Especially notable in the update was the 20% plus crunch in global sales in the latest 12 week period. The shares in fact tumbled to a 52

Fed chair, Jay Powell has raised the temperature on the rate cut timing, suggesting Monday that a reduction might be closer than previously thought. He said that a central bank won’t wait until inflation is at 2% (the Fed target) but showing sufficient weakness to convince policymakers that its on its way down. Speaking at

Chinese steelmakers eased production in June, but output was still up by a marginal 0.2% from the same month last year. National Statistics Bureau data showed production dipped to 91.61 million metric tonnes of crude steel last month, compared to 92.86 million tonnes in May. Analysts attributed the decline to easing demand due to heatwaves

Shares are rising amid a broad rally. Iron ore prices are advancing. However, China’s growth is weakening more than expected as the outlook darkens. Investors are rushing to safe havens after the assassination attempt on the former US president. At the closing bell, the S&P/ASX 200 was 0.73 per cent higher at 8,017.60. Futures The

Two media reports over the weekend suggest that Rio Tinto (ASX:RIO) and BHP (ASX:BHP) are still on the takeover trail. Sky News in the UK claimed that Rio Tinto was looking to make a $US32 billion bid for major copper and zinc miner Teck Resources of Canada. Canadian media reported that BHP was considering joining

Yet another hard-luck story emerges from the annals of corporate Australia: Star Entertainment Group (ASX:SGR) and its casinos in Sydney, the Gold Coast, and Brisbane. Amidst fines, regulatory issues, AUSTRAC investigations, missteps by former managers, and the previous board’s follies—not to mention gambling controversies and doubts about its future—the company was forced to disclose another

The Chinese government has once again missed its chance to send a message to consumers, businesses, and especially struggling homeowners that it aims to help them by cutting official interest rates. The central bank, the People’s Bank of China, left its key one-year rate steady at an already record low of 2.5% on Monday, only

Liontown Resources Limited (ASX:LTR) has concluded negotiations with BSIT and executed a full-form offtake agreement for the supply of spodumene concentrate from its flagship 100%-owned Kathleen Valley Lithium Project in WA. The short-term Offtake Agreement provides for the supply of up to 100,000 dry metric tonnes (DMT) of spodumene concentrate over the course of 10

The Australian sharemarket hit new highs during the morning session with the S&P/ASX 200 trading above 8000 for the first time. As midday approached the index was 0.9 per cent higher at 8033 as local traders embraced speculation that the US Federal Reserve will move to cut rates in September with as much as a