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BYD shifts focus to PHEVs
June 03, 2024 06:26 - 1000 KB03 Jun 2024 - In more unwelcome news for the lithium wannabees and actual miners and refiners, BYD, the world’s biggest maker of electrified vehicles, is continuing its push away from concentrating on lithium-gobbling battery-only EVs.
Upbeat forecast for global airline industry
June 03, 2024 05:54 - 1000 KB03 Jun 2024 - Qantas (ASX:QAN), Bonza, and Air New Zealand (ASX:AIZ) will miss out, but their global peers are having a great 2024 if the latest earnings upgrade estimate from IATA, the world airline lobby group, is any guide.
Consolidation wave reshapes US oil and gas sector
June 03, 2024 05:28 - 1000 KB03 Jun 2024 - Dealmaking in the US oil and gas sector has soared to nearly $200 billion over the past year as major producers race to acquire rivals and expand their scale, reshaping the national energy landscape.
Australia's minimum wage to increase by 3.75% in 2024
June 03, 2024 04:24 - 1000 KB03 Jun 2024 - Australia’s lowest-paid workers will receive an inflation-matching pay rise of 3.75% this year, down from 5.75% last year. The rise equates to $33.10 a week after the Fair Work Commission's decision was announced on Monday.
Chinese group ordered to cut stake in Australian rare earth miner
June 03, 2024 01:30 - 1000 KB03 Jun 2024 - The Chinese group Yuxiao Fund, along with four associates having ties to major Chinese conglomerates, will be compelled to reduce their shareholdings in Northern Minerals, a strategic rare earths miner, as the federal government deemed the acquisition contrary to "our national interest."
Stocks of the Hour: Immutep, INOVIQ, Eastern Metals
June 03, 2024 01:25 - 1 minute - 1000 KB03 Jun 2024 - A snapshot of the stocks on the move, featuring Immutep (ASX:IMM), INOVIQ (ASX:IIQ) and Eastern Metals (ASX:EMS).
Fletcher Building secures financial lifeline
June 03, 2024 01:17 - 1000 KB03 Jun 2024 - Struggling Fletcher Building (ASX:FBU) obviously foresees current struggles persisting for the next 18 months to two years, judging by Monday’s announcement that its financiers have agreed to reset the company’s banking agreements through the end of next year.
Synlait's financial challenges and road to recovery
June 03, 2024 00:15 - 1000 KB03 Jun 2024 - Another struggling Kiwi-listed company is Synlait (ASX:SM1); its market position has deteriorated with weaker sales, high costs, and a major falling out with its major customer, A2 Milk.
Stay active and buy the dip in June
June 02, 2024 22:46 - 1000 KB03 Jun 2024 - Investors would do well to take advantage of annual market volatility in June and buy on the dip, according to Emanuel Datt, chief investment officer of Datt Capital.
OPEC+ struggles to maintain market power
June 02, 2024 22:29 - 1000 KB03 Jun 2024 - OPEC+ may have agreed on Sunday to extend a voluntary production cut of 2.2 million barrels of crude oil a day deep into next year, but that is an acknowledgment that the output restrictions have failed to support prices at a level its members want.
Mixed signals in American retail
June 02, 2024 21:34 - 1000 KB03 Jun 2024 - The headlines from American retailing for the first quarter of 2024 told a very mixed picture - lots of cold, some hot, and little in between for many chains.
Gold sees fourth consecutive monthly gain
June 02, 2024 21:33 - 1000 KB03 Jun 2024 - Gold had a fourth straight monthly gain in May, and its supporters think it will gain again in the coming days, particularly during the first trading week of June. This is trading off the back of the final inflation report for May, which was released on Friday and left us none the wiser about the course of price pressures, Fed interest rates, and bond yields.
May ends with mixed results amidst inflation uncertainty
June 02, 2024 21:30 - 1000 KB03 Jun 2024 - So where do markets go on the first day of the new month (and for many companies, the final month of the second quarter and the 2023-24 financial year)?
A pivotal week awaits Australia's economy and markets
June 02, 2024 21:29 - 1000 KB03 Jun 2024 - Big week ahead for the Australian economy and markets. The first-quarter economic growth will be out midweek, but before then, the 2024 National Wage rise will be revealed later today (Monday).
Interest rate decisions, economic data, and election results dominate global news
June 02, 2024 21:27 - 1000 KB03 Jun 2024 - Two interest rate moves are up for decision this week: US jobs data for May, Chinese trade data (also for May), and Australian economic growth for the first quarter.
Guzman y Gomez to make ASX debut with $242.5 million IPO
May 31, 2024 01:49 - 1000 KB31 May 2024 - Guzman y Gomez (GYG), the renowned fast-food chain, has revealed its plans to debut on the Australian Securities Exchange (ASX) in June, marking a significant milestone in the company's journey.
Stocks of the Hour: Telix Pharmaceuticals, AVITA Medical, EZZ Life Science
May 31, 2024 01:30 - 1 minute - 1000 KB31 May 2024 - A snapshot of the stocks on the move, featuring Telix Pharmaceuticals (ASX:TLX), AVITA Medical (ASX:AVH) and EZZ Life Science (ASX:EZZ).
Will Nvidia join the Dow?
May 31, 2024 01:20 - 1000 KB31 May 2024 - After next Thursday, June 7, S&P Global has a seriously hard problem to resolve: does it start thinking about including Nvidia in the Dow, Wall Street's oldest and most prestigious index, and if they do, which among the 30 companies in it is to be dropped?
Brookfield makes bold move to become Australia's largest renewable energy owner
May 30, 2024 23:50 - 1000 KB31 May 2024 - Brookfield, a Canadian investment giant, has set its sights on becoming the foremost player in Australia's renewable energy sector with a monumental $10 billion bid to acquire France’s Neoen.
Dell's latest quarterly report: AI and server growth overshadowed
May 30, 2024 23:16 - 1000 KB31 May 2024 - The headline figures from Dell Technologies in its latest quarterly report, issued Thursday after hours, suggested AI and server 'boom,' but on closer scrutiny, investors shouted 'gloom, gloom' as there was a warning of margin pressures from a senior executive in a post-results briefing.
Assessing current trends in the US economy
May 30, 2024 21:47 - 1000 KB31 May 2024 - The US economy is still growing, and the job market appears to be solidly underpinned by low unemployment, according to the latest GDP and unemployment benefit claims.
NOVONIX completes independent engineering assessment of Riverside facility
May 30, 2024 05:06 - 1000 KB30 May 2024 - NOVONIX (NASDAQ:NVX, ASX:NVX), a prominent figure in battery materials and technology, has reached a significant milestone with the completion of an independent engineering assessment of its Riverside production facility located in Chattanooga, Tennessee.
Surging demand for data centers offsets weakening mining investment in Australia
May 30, 2024 03:10 - 1000 KB30 May 2024 - Surging demand from AI and various other data needs for cloud computing and data centers is more than offsetting weakening investment from mining, which has traditionally been the driver of new private business capex in Australia.
Shrinking big oil: M&A and the future of energy
May 30, 2024 02:30 - 1000 KB30 May 2024 - Big Oil is shrinking as its options contract. Breathless reporting and market analysts trumpet takeovers in the oil and gas sector as something positive, but those doing the taking over can tell them that it is all defensive, not expansionary.
Stocks of the Hour: Nanoveu, Anson, Prospect Resources
May 30, 2024 01:25 - 1 minute - 1000 KB30 May 2024 - A snapshot of the stocks on the move, featuring Nanoveu (ASX:NVU), Anson (ASX:ASN) and Prospect Resources (ASX:PSC, FRA:5E8).
Hybrid vs. electric: Shifting gears in the automotive industry
May 30, 2024 00:59 - 1000 KB30 May 2024 - Two product releases this week - one in northern China, the other in Tokyo, could very well help mark the end of the headless rush into pure electric vehicles or BEVs, the kind Elon Musk pushed into the foreground of public knowledge and ignited a boom in China and then around the world that is now spluttering.
Westgold Resources secures strategic alliance with Ora Gold
May 29, 2024 23:57 - 1000 KB30 May 2024 - Westgold Resources (ASX:WGX) has secured nearly a quarter of a million ounces of gold in its WA home base region through a $6 million deal with Ore Gold.
Australian beef exports to China resume following suspension
May 29, 2024 22:29 - 1000 KB30 May 2024 - Agriculture Minister Murray Watt has confirmed that five major Australian beef exporters, previously suspended from exporting meat to China, can now resume their operations. The suspension, imposed amidst a trade war between the two nations, has been lifted by Beijing with immediate effect.
BHP withdraws bid for Anglo American
May 29, 2024 21:36 - 1000 KB30 May 2024 - BHP (ASX:BHP) shares rose slightly after it withdrew from its attempt to buy Anglo American, but the latter’s shares fell nearly 4% in the wake of its refusal to continue talking on the proposal from the world’s biggest miner.
ConocoPhillips acquires Marathon Oil in $22.5 billion all-stock deal
May 29, 2024 21:34 - 1000 KB30 May 2024 - ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, including debt, as consolidation continues to reshape the US oil sector.
Update on BHP's offer for Anglo American
May 29, 2024 06:13 - 1000 KB29 May 2024 - BHP Group (ASX:BHP) disclosed a revised proposal for merging with Anglo American plc (Anglo American), and in response, the Board of Anglo American extended the offer deadline to the 29th of May 2024. BHP welcomed this extension as an opportunity to address concerns raised by Anglo American regarding its proposal. Since then, BHP has engaged extensively with Anglo American and its advisers to resolve these matters.
Fonterra's resilience amidst global retreat
May 29, 2024 05:35 - 1000 KB29 May 2024 - Fonterra (ASX:FSF), the huge New Zealand-based dairy giant, might be on the retreat globally with a string of asset sales, but as far as the immediate outlook is concerned, it's quite upbeat.
IMF turns bullish on China's economic outlook
May 29, 2024 05:20 - 1000 KB29 May 2024 - The International Monetary Fund has turned a bit bullish on China’s economic outlook.
Australian inflation, housing, and consumer trends
May 29, 2024 03:47 - 1000 KB29 May 2024 - The widespread autumnal rains in March and April across much of Eastern Australia helped bump inflation up for the second successive month in April.
Stocks of the Hour: Desoto Resources, OD6 Metals, Cleo Diagnostics
May 29, 2024 00:58 - 1 minute - 1000 KB29 May 2024 - A snapshot of the stocks on the move, featuring Desoto Resources (ASX:DES), OD6 Metals (ASX:OD6) and Cleo Diagnostics (ASX:COV).
Fisher & Paykel Healthcare reports improved financials
May 28, 2024 23:21 - 1000 KB29 May 2024 - A slightly higher dividend was announced for its 2023-24 financial year, along with expectations for a slightly better result in 2024-25, by New Zealand-based Fisher & Paykel Healthcare Corporation (ASX:FPH) on Wednesday.
Powering Australia's AI revolution
May 28, 2024 22:49 - 1000 KB29 May 2024 - Australia finds itself at a pivotal juncture where the burgeoning demands of AI intersect with the nation's energy infrastructure. Data centres, often referred to as "AI factories," are at the heart of this convergence, exerting significant pressure on the national power grid.
Algeciras and Tangier struggle amidst global shipping disruptions
May 28, 2024 22:25 - 1000 KB29 May 2024 - Upon entering the port of Algeciras at Spain's southernmost tip, the facility's busyness is unmistakable. Nearly all cranes at the port’s two container terminals are in operation, moving containers on and off ships. Alonso Luque, CEO of TTI Algeciras, notes that they’ve had to turn away many requests for extra cargo due to limited capacity. Similarly, executives at TC3 in Morocco's Tanger Med port face comparable challenges.
Countdown to BHP-Anglo merger
May 28, 2024 22:23 - 1000 KB29 May 2024 - BHP (ASX:BHP) and Anglo American have yet to agree on terms for their £39bn mining megamerger, raising the stakes as the deadline for negotiations looms on Wednesday.
ACM makes second attempt to strike deal with SXL
May 28, 2024 03:50 - 1000 KB28 May 2024 - Struggling rural print and digital media group Australian Community Media has made a second attempt in six months to interest struggling radio and regional TV group Southern Cross Media Group (ASX:SXL) in an asset deal.
Is renewable energy too expensive?
May 21, 2024 06:14 - 1000 KB21 May 2024 - Several major European power companies are reassessing their renewable energy development targets due to high costs and low electricity prices, signaling challenges in transitioning away from fossil fuels, such as coal, oil, and natural gas.
Sonic Healthcare plummets following earnings downgrade
May 21, 2024 05:25 - 1000 KB21 May 2024 - Shares in global pathology and radiology group Sonic Healthcare (ASX:SHL) fell more than 11% after the company turned an earlier earnings nudge into a full-blown downgrade.
Telstra's strategic shift
May 21, 2024 01:31 - 1000 KB21 May 2024 - Telstra (ASX:TLS) embarked on a significant investor pitch on Tuesday, unveiling cost reductions and other adjustments to reset its troubled Enterprises division.
James Hardie reports record earnings
May 21, 2024 01:30 - 1000 KB21 May 2024 - James Hardie might have notched up another record earnings year, defying tough homebuilding and construction markets in Australia and the US especially, but those headwinds look like they're catching up in the 2024-25 financial year, with lower earnings forecast by the group.
Stocks of the Hour: Sierra Nevada, NT Minerals, Gibb River Diamonds
May 21, 2024 01:30 - 1 minute - 1000 KB21 May 2024 - A snapshot of the stocks on the move, featuring Sierra Nevada (ASX:SNX), NT Minerals (ASX:NTM) and Gibb River Diamonds (ASX:GIB).
ALS reports financial recovery
May 21, 2024 01:29 - 1000 KB21 May 2024 - As expected, Brisbane-based global testing company ALS (ASX:ALQ) has ensured that its shareholders will not feel the financial pain of its Nuvisan adventure—the wasted millions of dollars invested in the European drug testing company and the quarter of a billion dollar impairment wrote down.
Technology One announces record interim payout
May 21, 2024 01:28 - 1000 KB21 May 2024 - Shareholders in Brisbane-based tech services and software group, Technology One (ASX:TNE), will receive a record interim payout of 5.08 cents per share after the company revealed a double-digit increase in sales and profits for the six months ending on March 31.
Hard Rock denies involvement in Star Entertainment bid
May 21, 2024 01:26 - 1000 KB21 May 2024 - Shares in Star Entertainment (ASX:SGR) fell at the opening on Tuesday after Hard Rock International denied any link to a bid for Star.
US dollar rally reverses amid inflation decline
May 20, 2024 21:50 - 1000 KB21 May 2024 - The rally in the US dollar witnessed earlier this year has reversed course as investors anticipate a decline in inflation in the world's largest economy, potentially providing the Federal Reserve with greater flexibility to cut interest rates.
Gold goes another record-breaking run Monday
May 20, 2024 21:28 - 1000 KB21 May 2024 - Gold went for another record-breaking run on Monday but couldn’t hang on to the new peak, while copper managed to retain its gains.