August 1, 2024

The rapid ascent and subsequent plunge of the lithium market has sent shockwaves through Australia’s resource-dependent economy. Once hailed as a golden opportunity, the sector is now grappling with the harsh realities of a market in freefall. At the epicenter of this downturn is US-based lithium giant Albemarle, whose decision to curtail its Australian operations […]

Amid the flood of tech company earnings reports on Thursday, one stood out, not for a surge in earnings or revenue, but for what its radical restructuring suggests about the future of the sector. The once market headliner and leading chipmaker, Intel Corp, will suspend dividends, cut $US billion in costs, and sack 15,000 staff

The Bank of England (BoE) has joined the group of central banks cutting rates, a day after the US Federal Reserve moved to increase its rate. It was the BoE’s first interest rate cut in more than four years, reducing its key rate from 5.25% to 5%. The move caused the London stock market to

Apple Well, Apple stood out, Amazon didn’t, and Snap was weak (again). Microsoft unimpressed earlier in the week, but Meta saw a big surge in revenue, especially from ads and profits, setting off a one-day stock market jump that was unwound Thursday by weak economic data before Amazon and Apple reported. Now it’s the turn

The weak yen has allowed Toyota to fight off the financial impact of a slide in car sales and a certification scandal, lifting June quarter earnings 1.7% to a new all-time high for the three-month period. Without a massive US$2.5 billion boost from the weaker yen, the car giant would have seen a sharp fall

Fresh activity data triggered fears that the Fed has left it too late to start its rate cut cycle and risks of a recession are rising. The Dow Jones shed 494 points to close down 1.21 per cent on the day. The broader S&P 500 closed 1.37 per cent lower and the Nasdaq slipped 2.3

Santana Minerals Limited (ASX:SMI) Executive Director Sam Smith provides an update on the company, discussing the latest high-grade drill results from the Rise and Shine deposit and commenting on the company’s recent listing on the New Zealand Stock Exchange. Paul Sanger: I’m Paul Sanger for the Finance News Network, and today I’m talking to Santana

Uber and Chinese electric vehicle (EV) maker BYD have announced a multi-year strategic partnership to add up to 100,000 new BYD EVs to Uber’s global fleet. The deal is a clear shot across the bow of Elon Musk’s Tesla. The partnership will initially focus on Europe and Latin America, with plans to expand to the

The battle for control of Namoi Cotton (ASX:NAM) is heating up. On Thursday, the Australian Competition and Consumer Commission (ACCC) said it would not oppose Louis Dreyfus’ proposal to acquire Namoi Cotton. This comes a month after the regulator raised concerns about a similar bid from Singapore-based Olam Group. However, Olam has rejected the ACCC’s

Australia finished the 2023-24 financial year with a goods export surplus that was half the size of what it was at the start of last July. Despite a small increase in the surplus in June, according to Australian Bureau of Statistics data, the overall trend was downward. This slight improvement was driven by increased exports