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Chinese crude steel production dipped again in May to a three month low, defying optimism from a solid rise in iron ore imports in the month. Data from China’s National Bureau of Statistics showed 90.62 million tonnes of crude steel was turned out last month, down from 92.64 million tonnes in April and more than […]

The Australian sharemarket experienced its longest winning streak in over two months as a result of interest rate cuts by China to revive its struggling economy. These rate cuts helped offset the impact of a stronger-than-expected jobs report in Australia. At the closing bell, the S&P/ASX 200 was 0.19 per cent higher at 7,175.30. The

Magnis Energy Technologies (ASX:MNS; OTCQX: MNSEF; FSE: U1P) announced that the lithium-ion batteries produced at the iM3NY Battery Plant have received UN38.3 certification. MD Hoshi Daruwalla commented: “Our batteries have met the strict safety requirements developed by the UN for transportation.” Shares are trading 2.86 per cent lower at 17 cents. GreenTech Metals (ASX:GRE) has

New Zealand’s economy has fallen into a recession as its gross domestic product (GDP) declined by 0.1 per cent in the March quarter, marking two consecutive quarters of negative growth. The economy had already contracted by 0.7 per cent in the December quarter. This recession was anticipated, as the Reserve Bank of New Zealand had

Stocks gyrated on Wednesday as the Federal Reserve paused its rate-hiking campaign and signalled it was making progress on fighting inflation. As traders were expecting, the Fed kept interest rates unchanged at a target range of 5 per cent-5.25 per cent on Wednesday afternoon, ending a streak of 10 consecutive hikes. Earlier Wednesday, May’s producer

The impact of the sharp fall in US consumer inflation in May on the interest rate decision by the US Federal Reserve will be well known by the time you read this Thursday morning. Barring a last minute brain fade, the Fed will sit on rates for a meeting or two because the headline rate

Shares in pharma giant CSL (ASX:CSL) took a hit yesterday after it revealed a larger than forecast loss from currency movements for its 2022-23 financial year. Instead of the impact – estimated earlier this year at the interim results, at around $US175 million, CSL told the ASX on Wednesday the figure was now more like

An apparent paradox was reported yesterday by the listed olives group Cobram Estates (ASX:CBO). The company reckons its 2023 crop will be both higher (than the most recent crop), and lower (than a normal crop). Sounds a bit Zen, but from a trading update and presentation to a Sydney investment conference (which also revealed solid