Tesla Cybertruck faces fourth recall amid disappointing sales
The Tesla Cybertruck EV costs around $100,000 USD and is a sales sluggard, according to data from the US government.
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Mixed signals from iron ore
Buried in the production data from China’s National Bureau of Statistics for May were a couple of data points that tell different stories about the health of China’s huge steel industry, the most important business in that country so far as Australia is concerned.
Read MoreVolkswagen surprises market with $1 billion stake in Rivian
Volkswagen has sprung a major surprise by acquiring a $1 billion stake in the struggling U.S. EV maker Rivian, making the German giant the latest major company to partner with the smaller U.S. rival.
Read MorePavel Tyka’s bid for Coronado Global Resources falters
Billionaire Czech businessman Pavel Tykac's plan to buy a controlling stake in Australian-US coal miner Coronado Global Resources has collapsed. His family investment group, Seven Global Investments (SGI), failed to secure approval from the Foreign Investment Review Board (FIRB) for the deal.
Read MoreAlkane Resources unveils ambitious five-year plan
Two weeks after issuing a downgrade, Alkane Resources (ASX:ALK) has followed through on a promise to release a new five-year development plan for its Tomingley gold mine in the central west of NSW, where it is also in the process of unearthing a series of massive copper ore bodies.
Read MoreCollins Foods sees strong 2023-24 performance
Shares in the fast food chain operator Collins Foods (ASX:CKF) jumped 10% to $10.30 on Tuesday after the company lifted its dividend following a very solid revenue and earnings performance in its 2023-24 financial year.
Read MoreNvidia’s swift decline
How quickly the mighty fall, or a correction time for Nvidia so soon after reaching the top.
Read MoreCettire shares plummet after surprise downgrade reveals profit issues
Shares in online luxury goods seller Cettire (ASX:CTT) fell sharply on Monday after the company surprised investors with a downgrade. Upon closer inspection, it was revealed that the company had been selling goods at little to no profit in the final months of 2023-24.
Read MoreStar Entertainment shares fall after gloomy trading update
Star Entertainment (ASX:SGR) shares were down 7% at lunchtime Monday on the ASX after a pre-end-of-year trading update spelled out gloomy news for the embattled casino group and its banks.
Read MoreLew’s slow campaign to regain Myer control advances with potential deal
The final step in Solomon Lew’s slow campaign to regain control of Myer (ASX:MYR) – 35 years after his first attempt failed – has been set in motion with Myer issuing an offer to Lew’s Premier Investments to buy some of his retail chains.
Read MoreGold and commodities market recap
Gold might have gained early on Friday, but like oil, it eased as the session went on. However, similar to oil, it is still heading into the final week of the second quarter and first half with notable gains.
Read MoreUS oil rigs decline as productivity drive continues amidst stable prices
Oil prices might have had a good week, but American companies continue to chase productivity with another cut to active rig numbers last week.
Read MoreEOFY scramble
The final week of the 2023-24 financial year, the second quarter of 2024, and the first half of the same year is approaching, so companies and investors are reviewing their books to ensure the best performance can be reported.
Read MoreNvidia’s influence and economic indicators shape investor sentiment
Nvidia dragged Wall Street markets lower on Friday, but they still ended the week higher, albeit a bit stretched.
Read MorePilbara Minerals plans $1.2 billion expansion to double lithium production
Pilbara Minerals (ASX:PLS), the country’s largest independent lithium producer, reckons around $1.2 billion will double its lithium spodumene production capacity at its Pilgangoora mining operation in the Pilbara.
Read MoreBig four banks drive ASX gains
Booming share prices for Australia’s big four banks – Commonwealth, NAB, ANZ, and Westpac – have saved investors from a miserable first half of 2024 and ensured the market performed better than inflation over the 2023-24 financial year, which ends next Sunday.
Read MoreKMD Brands struggling
Outdoor clothing chain KMD Brands (formerly Kathmandu) has battened down the hatches with the end of the financial year in sight, as a sales recovery stalls and earnings slide.
Read MoreMosaic Brands facing losses
Women’s fashionwear chain owner, Mosaic Brands (ASX:MOZ), has joined the emerging list of retailers (including KMD and City Chic) confessing to weak trading and possible or actual losses ahead of the end of their 2023-24 financial years.
Read MoreTrump Media shares plummet amid high turnover
The sell-off in Trump Media accelerated Thursday, with shares losing 15% in a day of high turnover.
Read MoreCentral banks update
There were two not unexpected results from meetings of two major central banks on Thursday—the Bank of England and the Swiss National Bank.
Read MoreCity Chic Collective faces 30% sales slump
City Chic Collective (ASX:CCX) has confirmed a massive 30% slump in sales for the year ending June 30. This news strongly suggests why the struggling fashionwear retailer is attempting to raise new capital and selling off its US online Avenue business at a loss.
Read MoreNew Zealand economy avoids recession
The New Zealand economy narrowly escaped recession in the three months to March 31, but like Australia, activity remains very weak as it continues to be affected by high interest rates.
Read MoreMinRes to close Yilgarn iron ore hub
Approximately 1,000 miners are facing an uncertain future as Mineral Resources (ASX:MIN) closes its Yilgarn iron ore mining hub in the WA Goldfields region and expands deeper into longer-life mines in the Ashburton and West Pilbara regions of the state.
Read MoreBank of England faces interest rate dilemma ahead of election
What’s a central bank to do? Inflation is back on target after being above it for nearly three years, the economy is meandering, but there’s a looming election that could very well see the sitting government driven from office. So, when do you cut your key interest rate?
Read MoreBHP’s copper ambitions
If BHP (ASX:BHP) had managed to win control of Anglo American and its 700,000 or so tonnes of annual copper production, would the company’s head of copper in South Australia, Anna Wiley, have stepped up this week and laid down a very upbeat outlook for the company’s position in the red metal?
Read MoreGlobal investors bullish on stock markets
According to the June survey of big global investment managers by Bank of America, it's a bull market, and it's going to run and run.
Read MoreCentral banks continue gold purchases
Something to gladden the hearts of gold bugs: the major players in the market for the past two years—central banks—are not going to abandon the metal anytime soon, even if the People’s Bank of China made headlines by stopping purchases in May when prices soared to all-time highs.
Read MoreQBE plans strategic exit from North America’s middle insurance market
QBE (ASX:QBE) says it will be able to manage its decision to exit the so-called middle insurance market in North America, a move that could cost it around half a billion dollars a year in gross written premiums.
Read MoreHigh interest rates impact consumer spending
Like in Australia, high interest rates are slowly strangling consumer spending, with May’s retail sales being the latest example.
Read MoreNvidia surpasses Microsoft and Apple to become the world’s most valuable company
For the first time ever, Nvidia on Tuesday leapfrogged Microsoft and Apple to become the most valuable company in the world.
Read MoreInvestor confidence plummets in French stock market amid political uncertainty
The French stock market is in decline as far as big investors are concerned, according to the latest global fund managers survey from the Bank of America, due to the snap poll called by President Macron on June 10.
Read MoreCity Chic faces dilutive capital raising
Specialty women’s wear retailer City Chic (ASX:CCX) is expected to make a highly dilutive capital raising that existing shareholders might balk at.
Read MoreRBA maintains interest rates at 12-year high amid economic uncertainty
No change in interest rates from the Reserve Bank, and none are expected for a while after the latest two-day monetary policy meeting of the central bank.
Read MoreRBA announces comprehensive review of retail payments regulation
The Reserve Bank of Australia (RBA) has announced a “holistic review” of the country’s retail payments regulation, aiming to increase transparency in fees and promote competition for services, according to Ellis Connolly, the RBA’s head of payments policy.
Read MoreCity Chic Collective halts shares for asset sale and capital raise
Sydney-based women’s fashion wear group City Chic Collective (ASX:CCX) has requested a halt in trading of its shares until next Monday (June 24). This pause will allow the company to finalize the sale of assets from its Avenue business and secure new capital.
Read MoreCanada secures rare earth materials from Vital Metals
Canada’s government will buy stockpiled rare earth materials from the Australian company Vital Metals in a deal that will prevent the company from selling its production to China.
Read MoreChinese economic data disappoints
The final dump of economic data for China in May failed to impress investors in the region, with Chinese and Japanese markets weak on the day and Hong Kong trading sideways after an early dip.
Read MoreSurge in Chinas steel production marks biggest monthly rise in over a year
China’s steel production finally jumped from the doldrums at the start of this year in May, recording one of the biggest monthly rises in some time.
Read MoreChina’s central bank holds steady on interest rates
Once again, China’s central bank has missed the opportunity to cut a key interest rate to help support an economy that continues to stutter, despite the mistaken belief that better-than-expected exports (as seen in May) indicate a stronger economy.
Read MoreBapcor secures bank support amidst losses and takeover talks
Embattled car parts retailer and distributor, Bapcor (ASX:BAP), has won significant support from its bankers as it prepares to announce a significant loss for the year ending June 30 and decides whether to fight a takeover approach from an American private equity firm.
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