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Rio Tinto declares force majeure on Aussie alumina due to gas shortage
May 20, 2024 21:24 - 1000 KB21 May 2024 - Rio Tinto (ASX:RIO) has officially declared a force majeure on alumina shipments originating from its refineries in Queensland, Australia. The decision stems from a shortage of gas necessary to sustain its operations, according to sources familiar with the matter.
China's steel sector surprises with April output
May 20, 2024 06:30 - 1000 KB20 May 2024 - China’s key industrial production may have bounced by a larger-than-expected annual 6.7% in April, but it did so without any help from the country's key steel sector.
Xi Jinping's missed opportunity
May 20, 2024 06:30 - 1000 KB20 May 2024 - President Xi Jinping had his opportunity to make a dramatic statement about new help for the country’s economic black hole—AKA housing and property—and tanked it on Monday.
Star shares rise after second takeover statement
May 20, 2024 01:57 - 1000 KB20 May 2024 - Star (ASX:SGR) shares came out of a brief trading halt after the company was forced to issue a second statement Monday morning on supposed takeover approaches.
Stocks of the Hour: Bastion Minerals, Ironbark Zinc, Western Yilgarn
May 20, 2024 01:30 - 1 minute - 1000 KB20 May 2024 - A snapshot of the stocks on the move, featuring Bastion Minerals (ASX:BMO), Ironbark Zinc (ASX:IBG) and Western Yilgarn (ASX:WYX).
Hard Rock Hotels and Casino's looking to acquire Star Entertainment
May 19, 2024 21:27 - 1000 KB20 May 2024 - Shares in the embattled Star Entertainment (ASX:SGR) are likely to surge today with the news that the US casino group Hard Rock Hotels and Casinos is considering a bid.
Michael Hill jewelry faces turbulence
May 19, 2024 21:26 - 1000 KB20 May 2024 - Listed jewelry chain Michael Hill has set itself up for a pounding when the ASX reopens on Monday after issuing a weak trading update on Friday.
China's housing market
May 19, 2024 21:24 - 1000 KB20 May 2024 - How desperate do you think the Chinese government and the Communist Party are to staunch the escalating losses in the country’s biggest black hole—housing and property?
US weekly wrap: Dow hits historic high, Nvidia earnings awaited
May 19, 2024 21:20 - 1000 KB20 May 2024 - The Dow starts this week on new ground after the record close on Friday left the best-known US market index above the 40,000 level for the first time in history.
A big weeks for commodities
May 19, 2024 21:18 - 1000 KB20 May 2024 - A big week for commodities—one of the biggest in months—with metals surging and oil ticking a touch higher for a smorgasbord of factors, from Gaza and Ukraine to Chinese property issues, along with expectations of interest rate cuts in the US, Europe, and Australia.
Nvidia's earnings report steals the spotlight
May 19, 2024 21:15 - 1000 KB20 May 2024 - Rate cuts, mood changes, and volatile commodity prices—especially copper and gold—are on the agenda alongside the release of central bank board meeting minutes from the Fed and the Reserve Bank, early results of the May survey of business activity in major economies, and 17 speeches or public appearances by senior Fed members in the US over the next five days. However, amidst this busy business schedule, the most significant event of the week remains the quarterly financial repo...
Stocks of the Hour: PharmAust, Impact Minerals, Peregrine Gold
May 17, 2024 00:55 - 1 minute - 1000 KB17 May 2024 - A snapshot of the stocks on the move, featuring PharmAust (ASX:PAA), Impact Minerals (ASX:IPT) and Peregrine Gold (ASX:PGD).
Why Chubb was on Buffett's buffet
May 16, 2024 23:54 - 1000 KB17 May 2024 - Warren Buffett’s $US6.7 billion move into the smaller insurer Chubb, controlled by a long-time family friend, dominated this week’s final quarterly data drop from the world’s most followed investor. Safe to say, the new investment is what investors focused on.
Biden hits Chinese EVs
May 16, 2024 23:30 - 1000 KB17 May 2024 - Talk about a brave move—President Biden’s attack on the Chinese electric vehicle markets is nothing but a load of hot air; real Alice Through the Looking Glass material. Putting tariffs on something that is not there will have no impact whatsoever.
Elementos initiates diamond drilling at Cleveland Tin Project
May 16, 2024 22:25 - 1000 KB17 May 2024 - Elementos (ASX:ELT) has commenced diamond drilling at its 100% owned Cleveland Tin Project, located near Waratah in Tasmania. The drilling operation, spanning 1,100 meters, aims to investigate mineralization of tin, copper, tungsten, and fluorite. This initiative builds upon the company's previously published Ore Reserves, Mineral Resources, and Exploration Target.
Chinese EV maker Li Auto facing layoffs
May 16, 2024 21:32 - 1000 KB17 May 2024 - Chinese EV maker Li Auto is reportedly undergoing massive layoffs as sales fall short of budget and the price war intensifies. Chinese media reports say the cuts could be as high as more than 18% of its 31,000 workforce.
Record-setting day for Walmart
May 16, 2024 21:30 - 1000 KB17 May 2024 - US stocks may have had a great opening on Wall Street Thursday, but they didn’t end well, the green (and record for the Dow) ending in the red. However, for the retail giant Walmart, it was a record-setting day as earnings and revenue topped all forecasts, belying gloom about weak consumer demand.
Copper's meteoric rise
May 16, 2024 21:25 - 1000 KB17 May 2024 - Copper has emerged as a focal point for both data transmission and the investment strategies of those wary of inflation. Since early February, the red metal has experienced a remarkable surge in price, climbing over 26 percent on the London Metal Exchange and reaching record highs in the US.
Fonterra plans to exit Australia
May 16, 2024 04:50 - 1000 KB16 May 2024 - Fonterra (ASX:FSF), the large Kiwi dairy group, wants out.
New jobs and unemployed workers rise in April
May 16, 2024 04:49 - 1000 KB16 May 2024 - The number of new jobs and the number of unemployed workers rose in April, as the labour market seemingly moved to the cusp of a major change.
Incitec reports weak results
May 16, 2024 04:48 - 1000 KB16 May 2024 - Explosives and fertilizer group, Incitec Pivot Limited's (ASX:IPL) apparently weak financial performance in the March half-year reflected the sale of its US explosives plant in Louisiana in late 2023, as well as the impact of one-off items, including a significant write-down in the value of its soon-to-be-sold fertilizer business.
Stocks of the Hour: Sunstone Metals, Helix Resources, Riversgold
May 16, 2024 01:30 - 1 minute - 1000 KB16 May 2024 - A snapshot of the stocks on the move, featuring Sunstone Metals (ASX:STM), Helix Resources (ASX:HLX) and Riversgold (ASX:RGL).
Aristocrat announces higher dividend
May 15, 2024 23:50 - 1000 KB16 May 2024 - Shareholders in gaming machine group Aristocrat Leisure (ASX:ALL) will receive a higher interim dividend of 36 cents per share after the company reported a 9% rise in after-tax earnings to $711 million for the six months ending on March 31.
US CPI print comes in lower than expected
May 15, 2024 21:44 - 1000 KB16 May 2024 - Wall Street enjoyed a nice bounce Wednesday after US inflation edged down to 3.4% in April, and retail sales slowed by more than many analysts had forecast.
Budget forecasts experience a miss
May 15, 2024 03:19 - 1000 KB15 May 2024 - The economic forecasts of the 2023-24 federal budget have already experienced a miss, with March quarter wages growth slowing more sharply than forecast. This was attributed to the first fall in private wages in over three years and a slump in public service increases.
Elementos announces licensing activities for Oropesa Tin Project
May 15, 2024 03:14 - 1000 KB15 May 2024 - Elementos (ASX:ELT) has announced the restart of Definitive Feasibility Study and licensing activities for the Oropesa Tin Project after reaching an agreement with the Andalucian Government.
Stocks of the Hour: Australian Gold and Copper, Norwest Minerals, Elementos
May 15, 2024 01:22 - 1 minute - 1000 KB15 May 2024 - A snapshot of the stocks on the move, featuring Australian Gold and Copper (ASX:AGC), Norwest Minerals (ASX:NWM) and Elementos (ASX:ELT).
Focus on the markets: Trading volumes
May 15, 2024 00:08 - 1000 KB15 May 2024 - In the world of share market investing, charts serve as an indispensable tool for decision-making. They provide vital insights into market trends, price movements, and crucial indicators that influence trading strategies.
CSR reports higher profits from building products business
May 14, 2024 23:23 - 1000 KB15 May 2024 - CSR (ASX:CSR) has reported higher profits from its building products business but a loss from aluminum for the year ending March 31, its last results as a listed company. The company is being taken over by Saint-Gobain, the large global building products group based in France, for $US4.32 billion.
BYD delays lithium cathode project in Chile
May 14, 2024 23:04 - 1000 KB15 May 2024 - The recession in the global lithium and battery materials markets has finally hit home in China, with BYD, the world’s biggest maker of electrified vehicles, postponing a key project slated for Chile.
Treasurer Jim Chalmers delivers back-to-back surplus budget amidst cost of living concerns
May 14, 2024 22:07 - 1000 KB15 May 2024 - Treasurer Jim Chalmers presented his third consecutive budget on Tuesday night, marking a significant milestone with a back-to-back surplus of $9.3 billion – a feat not seen in almost two decades.
Anglo American shares rise to record close
May 14, 2024 21:50 - 1000 KB15 May 2024 - Anglo American shares initially fell but later rose to close higher on Tuesday after the embattled miner laid out its response to BHP’s two spurned takeover offers.
Insights into spending, forecasting, and growth
May 14, 2024 21:44 - 1000 KB15 May 2024 - So, the cash will be spent, the surplus run down, and deficits of more than $70 billion in 2024-25 and 225-26, but all this as consumers retreat into their shells.
Rate cuts loom
May 14, 2024 21:43 - 1000 KB15 May 2024 - Even though the Fed has made it clear there will be no rate rise until it is really convinced that inflation is falling sustainably, big global investors are ignoring that and are off in their own world of 'Rate Cuts Loom.'
Anglo American revamps itself following BHP's second takeover offer
May 14, 2024 21:41 - 1000 KB15 May 2024 - Less than a day after rejecting BHP’s (ASX:BHP) second takeover offer, Anglo American says it is starting its so-called Plan B to revamp itself—and do several things that BHP wanted, such as getting rid of some assets.
China's car market slows in April
May 14, 2024 05:21 - 1000 KB14 May 2024 - China's car market slowed in April, and had it not been for a reasonable performance by the still-growing new energy vehicle sector, total sales would have looked forlorn. However, while sales of new energy vehicles (NEVs) did fall in April, the sector’s share of total vehicle sales jumped to a record high, as sales of conventionally powered ICE (Internal Combustion Engine) vehicles slid faster than sales of NEVs.
Stocks of the Hour: Castillo Copper, TechGen Metals, Rincon Resources
May 14, 2024 01:30 - 1 minute - 1000 KB14 May 2024 - A snapshot of the stocks on the move, featuring Castillo Copper (ASX:CCZ), TechGen Metals (ASX:TG1) and Rincon Resources (ASX:RCR).
GUD expects underlying earnings to be on track
May 13, 2024 23:45 - 1000 KB14 May 2024 - Two days before its investor day on Wednesday, GUD (ASX:GUD) stated that its expected underlying earnings are on track, though its dominant automotive operation will fall a little short due to weakness across the Tasman and in some parts of the sector in Australia.
BHP makes second attempt to buy Anglo American
May 13, 2024 21:30 - 1000 KB14 May 2024 - BHP (ASX:BHP) has made a second attempt to buy Anglo American, offering a revised bid worth 34 billion pounds or $US42.7 billion — and Anglo immediately rejected it for a second time.
Rio Tinto suffers major incident with one of its autonomous iron ore trains
May 13, 2024 21:07 - 1000 KB14 May 2024 - In the third incident of its type in 11 months, Rio Tinto (ASX:RIO) has suffered a major incident with one of its autonomous iron ore trains in the Pilbara overnight Monday.
Business conditions back around long-term readings
May 13, 2024 05:05 - 1000 KB13 May 2024 - Ahead of Tuesday’s federal budget, the Australian economy eased in April, with business conditions and confidence back around long-term readings, but retail still remains very weak.
ARN Media still pursuing Southern Cross Austereo
May 13, 2024 05:03 - 1000 KB13 May 2024 - ARN Media (ASX:A1N) still harbors ambitions for control of Southern Cross Austereo (SCA), even though it lost its partner, private equity group Anchorage Capital, in its bid.
New Chair of Bendigo and Adelaide Bank
May 13, 2024 05:02 - 1000 KB13 May 2024 - Bendigo and Adelaide Bank (ASX:BEN) has confirmed the appointment of Vicki Carter as the bank’s permanent chair, three weeks after David Foster stepped aside in the wake of his decision to stand down as chair of embattled casino owner Star Entertainment.
Stocks of the Hour: Anax Metals, Brightstar Resources, Element 25
May 13, 2024 00:50 - 1 minute - 1000 KB13 May 2024 - A snapshot of the stocks on the move, featuring Anax Metals (ASX:ANX), Brightstar Resources (ASX:BTR) and Element 25 (ASX:E25).
Ramelius unveils plans for third million-ounce mine
May 13, 2024 00:33 - 1000 KB13 May 2024 - Ramelius (ASX:RMS) announced that it will now have a third million-ounce mine project at its Mt Magnet area of interest in WA’s midwestern goldfields.
China's consumer prices rise for a third straight month
May 12, 2024 23:40 - 1000 KB13 May 2024 - China's consumer prices rose for a third straight month in April, while producer prices extended their declines, as cost pressures remained mixed across a stuttering economy.
Eyes on US consumer inflation
May 12, 2024 23:10 - 1000 KB13 May 2024 - For all the noise and punditry about Tuesday night’s 2024-25 federal budget, investors will be looking later in the week to see what happened with US consumer inflation in April.
Anchorage Capital Partners' shock withdrawal
May 12, 2024 23:09 - 1000 KB13 May 2024 - Private equity group Anchorage Capital Partners has stunned investors, including ARN, with its shocking decision to drop out of the bid for Southern Cross Austereo. This move will likely kill the $250 million offer.
Mixed week on Wall Street
May 12, 2024 23:08 - 1000 KB13 May 2024 - A solid finish to the stock markets on Friday, but today will see a more circumspect ASX re-open.
Last days of US march quarterly reporting season
May 12, 2024 21:50 - 1000 KB10 May 2024 - A test this week marks the last days of the US March quarterly reporting season. Only a handful of S&P 500 companies might be reporting, but a couple are going to be pretty influential, especially in the consumer sectors, with mighty Walmart and Home Depot, America’s biggest DIY group, both reporting on Thursday.