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Global oil prices slumped to multi-year lows on Tuesday in the wake of a cut by OPEC in its forecasts for this year and next, coupled with weak data from China. Even a looming tropical storm couldn’t push US prices higher, nor could the latest fighting in Gaza. West Texas Intermediate (WTI) crude fell 3.3%, […]

Australian investors will no longer be able to invest in high-yielding, bank-issued hybrids after the key financial regulator, APRA, ruled that they posed a risk to the stability of the Australian financial system and economy. Banks currently have $41.3 billion in hybrids on issue, which Australian investors have sought for their yields over the years.

The Federal Reserve has significantly scaled back its proposed increase in capital requirements for the largest U.S. banks following pushback from the banking industry and lawmakers. Michael Barr, the Fed’s top regulator, announced on Tuesday a revised plan that would raise capital requirements for major lenders by 9%, down from the 19% proposed last summer.

August saw yet another series of mixed messages from China regarding its appetite for key commodities such as oil, coal, iron ore, and copper. Imports of coal rose, while imports of iron ore, oil, and copper metal eased. However, imports of copper concentrates hit a 12-month high. Gold was absent from China’s monthly figures, as

Data centre developer and operator NEXTDC (ASX:NXT) wants to raise the total amount it has asked investors for this year to a massive $2 billion, after revealing plans late Tuesday for a second large round of funding. The company raised A$1.3 billion in April (US$845 million) to support what was then an ambitious development plan.

Ouch! Hours after launching its new iPhone 16 and watch, along with other products, Apple has been hit by a shock court ruling in Europe, forcing it to pay €13 billion in taxes. This comes after the European Union’s top court upheld an order for Ireland to recoup up to $US14.35 billion, plus interest, in

Heavily indebted Mineral Resources (ASX:MIN) is slashing worker numbers and conditions at its WA mines and businesses as it receives FIRB approval to sell a 49% stake in a dedicated iron ore haul road, pocketing $1.1 billion from US investors. The sale of the stake in the iron ore haul road has been in progress

The S&P 500 marked its second consecutive winning session on Tuesday as Wall Street worked to stabilise during a turbulent September. The broad market index gained 0.45 per cent, closing at 5,495.52, while the Nasdaq Composite rose 0.84 per cent to settle at 17,025.88. Meanwhile, the Dow Jones Industrial Average slipped by 92.63 points, or

News Corp has acknowledged receipt of a letter from the activist shareholder group, Starboard Value, but immediately rejected its claims that the company’s current control structure—dominated by the Murdoch family via a voting/non-voting share structure—is problematic. Starboard Value’s stance on the voting/non-voting share structure and the control it grants the Murdochs emerged on Sunday after

Has the Reserve Bank’s “control inflation at all costs” approach caused it to miss the chance to ease pressures on the economy? This question arises after the latest NAB monthly survey of business conditions and confidence revealed that August saw July’s brief blip snuffed out, as worries about employment and profitability returned to the fore.