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Concerns over the impact of China’s property market turmoil intensify as Zhongrong International Trust, a major wealth manager in China, confirms a string of missed payments on financial products sold to investors across the nation. These apprehensions prompted a 0.8% dip in the Shanghai market, a 0.7% decline in the CSI 300 index, and a […]

Stocks fell Wednesday as investors digested a summary of the Federal Reserve’s July meeting, which hinted at potentially higher rates. The Dow Jones Industrial Average dropped 180.65 points, or 0.52 per cent, to end at 34,765.74. The S&P 500 dipped 0.76 per cent, closing at 4,404.33. Meanwhile, the Nasdaq Composite declined 1.15 per cent, ending

One way or another, Chile’s SQM states its involvement with Azure Minerals (ASX:AZS) in developing the highly prospective Andover lithium deposit in the Pilbara region of WA. Azure has rejected a $2.31-per-share offer from SQM (Sociedad Química y Minera de Chile), valuing the Australian lithium developer at A$901.4 million. Azure mentioned that the offer price

The bad news about China’s embattled property sector keeps on coming, with major player Country Garden struggling to remain solvent, investment sliding again in July, and the first fall in house prices recorded last month for this year. Official figures on Wednesday showed that China’s July new home prices fell for the first month this

The Chinese-controlled thermal coal miner and exporter, Yancoal Australia (ASX:YAL), has reduced its interim dividend by 28% to 37 cents per share (fully franked) due to declining revenue and earnings in the six months leading up to June, attributed to sliding world prices. The dividend cut comes after a record payout of 52.7 cents per

On Wednesday, the ASX experienced a significant drop in response to a global sell-off that took place overnight. At the closing bell, the S&P/ASX 200 was 1.5 per cent lower at 7,195.20. This decline was mirrored by the All Ordinaries index, which also fell by a similar percentage. This drop in Australian stock indexes was

The year 2023-24 is turning out to be quite challenging for property developer and investor Mirvac (ASX:MGR), as the company faced a loss for the period ending on June 30. The impact of rising interest rates, decreased consumer spending, and a general economic slowdown has hit property companies hard. Mirvac isn’t the only one facing

Melbourne-based packing group Pact (ASX:PGH) faced significant challenges in the 12 months leading up to June 30, resulting in financial losses and the omission of its final dividend. As there was no interim dividend, shareholders will experience a shortfall. However, Raphael Geminder, a wealthy Melbourne businessman and 49% owner of the company, won’t be impacted

The self-proclaimed “Number one Total TV Network,” Seven West Media (ASX:SWM), faced a considerable gap between its claim and reality as it reported declines in revenue and profits for the fiscal year ending on June 30. The notable aspect wasn’t Seven’s claimed top position, but rather its inability to translate that status into increased earnings