Section
Australian and global economic indicators, ASX market movements, corporate earnings and trade developments. Summaries updated every two hours.
Business news covering the Australian economy, ASX market movements, corporate earnings and trade developments. This section tracks GDP figures, employment data, Reserve Bank commentary, major mergers and acquisitions, and the performance of Australian companies on the global stage. From mining and agriculture to banking and retail, our summaries provide a quick snapshot of the economic forces shaping Australian prosperity.
Yusuf, 25, who works in finance, goes on a blind date with Hannah, 26, a PhD student. Despite Hannah's request for no one in finance, they share a conversation about their interests and experiences, highlighting the importance of good chat and fun stories in dating.
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A first-home buyer misses out on an art deco apartment after making a pre-auction offer below the reserve price. The property auction on Saturday attracts a higher bid from another buyer, highlighting the competitive nature of the current real estate market.
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Elon Musk's net worth reaches a staggering 5 trillion dollars, making it 5 million times greater than that of the average family. This disparity highlights a significant increase in wealth inequality, as Musk's fortune surpasses even that of the 'everyday wealthy'.
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A recent survey indicates Australians are reconsidering traditional savings options, moving away from previously popular choices. Factors influencing this shift include rising interest rates and a growing interest in alternative investments, with the market now valued at $2.5 trillion. This change reflects evolving attitudes towards financial security and investment strategies.
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SpaceX achieves the largest stock market debut in history with a valuation exceeding $2 trillion after its initial public offering on June 12, 2026. The share price started at $150 and quickly surged, making CEO Elon Musk the world's first trillionaire. Musk emphasises the company's mission to advance humanity's presence in space.
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Emelia Jackson presents a rich, fudgy upgrade to a nostalgic supermarket favourite, perfect for morning teas or dinner parties. The dessert features dense chocolate and striking zig-zag stripes, making it an impressive addition to any gathering.
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SpaceX is poised to exceed a $2.8 trillion valuation in its upcoming Wall Street debut. Founder Elon Musk emphasises the company's ambitions to facilitate travel to the moon, Mars, and beyond. This significant milestone reflects the growing interest in space exploration and commercial ventures.
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Uber appeals a decision to reinstate a driver facing 16 misconduct allegations, including speeding and racist remarks. This comes as the government updates deactivation laws for ride-share drivers. The outcome of the appeal could impact the company's policies and driver management.
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SpaceX is set to list on the US stock market with a valuation of $1.77 trillion, marking the largest initial public offering in history. The inclusion of SpaceX in the Nasdaq index will create additional buying pressure due to 'forced buyers' like tracker funds. This move positions Elon Musk to potentially become the world's first trillionaire today.
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Antonio Gracias and his private equity firm stand to gain up to $100 billion when SpaceX, Elon Musk's rocket company, begins trading on the stock market. This investment could yield one of the largest returns in private equity history.
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Amplia Therapeutics aims to establish its 'shield-breaker' cancer drug as a significant player in the emerging field of kRAS inhibitors, highlighted at a recent global oncology conference. This new class of drugs is expected to advance cancer treatment options.
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Brett Blundy's attempt to take control of Victoria's Secret's board faces strong opposition, leading to a poor reception for his bid. The retail mogul's efforts to influence the iconic lingerie brand have not gained traction among shareholders. The situation highlights ongoing challenges for Blundy in the retail sector.
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Business investment is increasing, contributing positively to economic growth. However, experts warn that significant funding is directed towards technologies that could pose existential risks to humanity. This raises concerns about the long-term implications of current investment trends.
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The privacy commissioner finds that American Express may not adequately protect customers from insider security threats. Following this preliminary opinion, the company's lawyers impose a gag order, limiting public knowledge about the extent of the security issues. This situation raises concerns about transparency in customer protection.
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US stocks rise and oil prices drop after President Donald Trump cancels planned attacks on Iran. This positive sentiment is expected to boost the ASX, with analysts predicting a strong opening. Market reactions reflect relief over reduced geopolitical tensions.
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Resigning from a job can prompt concerns about the organisation, especially if the reasons aren't clear. It's important for employees to seek transparency regarding any unusual circumstances surrounding a resignation. Understanding these factors can help in making informed career decisions.
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The Frisco Hotel in Woolloomooloo has been sold for $15 million to a formerly ASX-listed company. This iconic harbourside pub is a popular destination in the area, known for its vibrant atmosphere and scenic views.
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The Allan government sells the former Supreme Court building for $25 million, aiming for a more successful outcome than its previous attempt to sell the property in the early 1990s. The sale reflects ongoing efforts to optimise state assets and generate revenue.
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One Nation senator Sean Bell, recently embarrassed during an interview on 2GB, is now being managed by a seasoned talk radio professional. This veteran aims to enhance Bell's media presence and communication skills as he navigates his political career.
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Global economic growth is projected to slow to 2.5% in 2023, the lowest level since the Covid pandemic, according to the World Bank. This downgrade is attributed to rising inflation and borrowing costs due to the ongoing war in the Middle East, affecting two-thirds of countries. The bank estimates growth will recover to 2.7% by 2025.
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Lee Raymond, former CEO of Exxon Mobil, dies at 87. He is known for overseeing the oil industry's largest corporate merger and for his opposition to climate-change activism, earning him the nickname 'Darth Vader of global warming'. Raymond's leadership significantly influenced the energy sector during his tenure.
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Norfolk Metals agrees to acquire Chile's Ciclón copper project for US$55 million (A$69 million). The deal is supported by a capital raising of up to A$120 million and includes plans for resource-growth drilling.
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Augustus Minerals completes a 1650m RC drill program at the Music Well gold project in Western Australia. Assays are pending, with results from the initial campaign expected soon. This marks a significant step in the company's exploration efforts in the region.
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Research shows that individuals get distracted an average of 275 times a day due to constant notifications from messages and emails. To combat this, experts recommend three strategies to enhance focus and productivity in daily tasks. Implementing these methods can help manage distractions effectively.
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The US conducts a second round of airstrikes on Iran, escalating tensions as Tehran retaliates by targeting Bahrain, Kuwait, and Jordan. Analysts suggest the strikes aim to pressure Iran into negotiations, but indications show no imminent deal is forthcoming. The situation remains volatile as a ceasefire appears close to collapse.
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Critical Resources reports high-grade gold and antimony findings in New Zealand's Reefton Goldfield, with samples showing up to 13.3 g/t gold and 0.7 per cent antimony from historic mine material. This discovery reinforces the potential of the area for further exploration.
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The Trump family's involvement in cryptocurrency has proven profitable, drawing significant scrutiny. A particular agreement has raised concerns regarding its implications and transparency, highlighting the ongoing debate over the family's financial dealings in the crypto market.
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Wall Street experiences a significant decline as AI stocks drag the market down and escalating tensions in the Middle East raise concerns about the reopening of the Strait of Hormuz for oil tankers. This uncertainty is expected to impact the ASX, which is set to fall in response.
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A taste test of 21 canned tuna products reveals that Sirena does not rank as the top choice among Australian consumers. Conducted by Good Food's Frank Sweet, the evaluation included various brands and formats, highlighting preferences in flavour and quality. The results provide insights into the best supermarket options for canned tuna.
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The number of homes on the market for extended periods has significantly increased, indicating a shift in buyer sentiment. Experts attribute this trend to rising interest rates and economic uncertainty, leading to hesitancy among potential buyers. As a result, properties are taking longer to sell across the country.
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