Disney & Wynn Resorts report after the bell
Stocks fell Wednesday as Wall Street awaited fresh inflation data coming later in the week.
Read More
Forecasting the future: Will US electricity demand triple by 2045?
In the realm of predictions, the future remains uncertain, yet that didn't deter Elon Musk, the CEO of Tesla and SpaceX, from making a rather striking forecast recently. Musk predicted that the demand for electricity in the United States would triple by around 2045, largely due to the widespread adoption of electric vehicles.
Read More
Three consecutive quarters of retail sales fall spark concerns
In a troubling sign of the times, the Australian retail landscape is grappling with an ongoing decline as retail sales continue to tumble, signaling the harsh impact of the prevailing cost-of-living crisis on consumer spending patterns.
Read MoreMoody’s downgrades US banks
Stocks retreated Tuesday as an August selloff was reignited by a downgrade of the banking sector by credit rating agency Moody's.
Read MoreASX closes 0.03% higher: Goldman Sachs predicts decline in iron ore prices
Goldman Sachs predicts a continued decline in iron ore prices this year due to a looming surplus in the physical market and increasing worries about China reducing its steel output, with the current 11.6% drop in iron ore futures from their recent high of US$114.95 to US$101.65 per tonne expected to worsen by a further 12%, meeting the criteria for a bear market, following a brief commodity price rally sparked by China's commitment to its property sector that has now waned due to inadequate stimulus and escalating concerns over Chinese steel production cuts.
Read MoreDiggers and Dealers Mining Forum 2023: Day 1
The Diggers and Dealers Mining Forum, an annual event that brings together industry leaders, investors, and experts in the mining sector, was held for the 32nd time in the historic goldfields town of Kalgoorlie. This year's forum was marked by the presence of 2,500 delegates representing nearly 1,000 companies.
Read More
Empire executes initial agreement with APA Group
Empire Energy Group (ASX:EEG) has taken a significant step forward in advancing its gas transportation services by entering into an initial agreement with APA Group (ASX:APA), Australia's leading energy infrastructure business.
Read MoreConsumer confidence declines despite stable cash rate, ANZ-Roy Morgan survey reveals
In a recent ANZ-Roy Morgan survey, consumer confidence took a hit, declining by 3.4 percentage points to 75 last week.
Read MoreBerkshire Hathaway achieves record high following strong Q2 earnings report
Berkshire Hathaway has experienced a significant surge to a record high in the wake of its Saturday earnings report, which showcased an operating profit for the second quarter surpassing Wall Street's expectations.
Read MoreMyer upgrades profit expectations for FY2023 amid strong sales growth
In its latest trading update, Australian department store chain Myer (ASX:MYR) has raised its profit expectations by an impressive 15 to 21 per cent for the financial year 2023. The updated profit forecast now ranges between $69 million and $73 million, reflecting the company's robust performance in the current financial year.
Read MoreASX up 0.07% at noon: NAB survey shows dip in business conditions
In the month of July, the NAB monthly survey exhibited that business conditions experienced a marginal dip of one basis point, settling at +10 index points, while business confidence witnessed a positive shift, rising by two points to reach +2 index points.
Read MoreThe Dow rises on further positive earnings reports
The Dow Jones Industrial Average rose Monday as investors kicked off a week with more corporate earnings.
Read More
GUD transitions to pure-play automotive company with $65 million sale of Davey Water Products
GUD is set to become a pure-play automotive products company after the $65 million sale of its pumps company, Davey Water Products, to Sydney-based Waterco.
Read MoreThe electrifying challenge the lithium industry faces
The lithium industry needs $116 billion by 2030 to fulfil the ambitious targets set by governments and major automakers.
Read MoreASX down 0.26% at noon: Pilbara Mineral upgrades resource
Pilbara Minerals (ASX:PLS) have surged following the announcement of a substantial 36% increase in total Resource tonnage and a 64% increase in total Measured and Indicated Resource, enhancing overall resource confidence with 82% of the Mineral Resource now classified as Measured and Indicated, making it one of the strongest performers on the benchmark ASX 200 for 2023.
Read MoreLithium Australia and Mineral Resources sign landmark joint development agreement
Lithium Australia (ASX:LIT) has announced a significant joint development agreement with leading ASX-listed mining company Mineral Resources Ltd (MinRes) related to their innovative lithium extraction technology, LieNA®.
Read MoreS&P 500 and Nasdaq record their worst week since March
The S&P 500 and Nasdaq Composite slumped Friday for a fourth straight session, and notched their worst weeks since March, as traders seemed to book profits following the latest corporate earnings releases and US jobs data.
Read MoreGold mining rainmaker predicts intensified deal activity in Australian gold sector
Renowned gold mining executive Raleigh Finlayson is tipping a spate of intensified deals in the Australian gold sector, expressing an uncommonly bullish outlook for the precious metal.
Read MoreASX up 0.04% as RBA lowers economic growth predictions
The Reserve Bank has lowered its economic growth predictions and expects inflation to slow down faster than previously estimated.
Read MoreSaudi Arabia extends oil output cut to September
In a move to stabilise global oil markets, Saudi Arabia has announced that it will extend its voluntary crude oil output cut of 1 million barrels per day into September.
Read MoreGenex Power’s Kidston: Australia’s pumped hydro champion
Four hours northwest of Townsville, Australia's energy transition to net zero by 2050 is taking a significant step forward with the near-completion of Genex Power's $777 million Kidston pumped hydro project.
Read MoreAtlassian reveals optimistic outlook for FY24
Leading provider of collaboration and productivity software, Atlassian, has revealed its optimistic outlook for cloud services in the fiscal year 2024.
Read MoreLithium commodity market report
The report, published as part of a series by RFC Ambrian, delves into the current and future trends within the lithium industry, shedding light on its potential risks and opportunities.
Read MoreApple & Amazon report earnings after the bell
The S&P 500 ticked lower for a third straight day, as Wall Street assessed the latest corporate earnings results and struggled to shake off pressure from rising bond yields, in which the benchmark 10-year Treasury yield is trading at around 4.18 per cent, near its highest level since November 2022.
Read MoreASX closes 0.58% lower following Wall Street’s overnight sell-off
Following Wall Street’s overnight sell-off, the S&P/ASX 200 closed 0.58 per cent lower at 7,311.80.
Read MoreBWP Trust reports asset write-downs
BWP Trust, the landlord of 65 Bunnings warehouses, has disclosed asset write-downs across its $3 billion large-format retail portfolio.
Read MoreDo’s and Don’ts in real estate
The companies that present opportunities and pitfalls in the current real estate sector within Australia.
Read MoreAfternoon update: ASX trading 0.5% lower, Consumer Staples outperforming
The ASX is currently trading 0.5 per cent lower at 7,317.80, and the SPI futures are witnessing a decline of 39 points.
Read MoreASX down 0.45% at noon as Fitch downgrades US credit rating
At noon, the S&P/ASX 200 is 0.45 per cent lower at 7,321.50. Fitch, one of the three major independent credit rating agencies, has downgraded the credit rating of the US government due to mounting concerns about the country's financial situation and its increasing debt load. The rating has been lowered from the highest level of AAA to the slightly lower rating of AA+.
Read MoreAlbemarle’s auspicious lithium quarter: Rebounding amidst price slowdown
Another solid quarter for the world's biggest lithium player, Albemarle, but the three months to 30th June did confirm that the company had, like its rivals, been whacked by the slowdown in prices.
Read MorePilbara Minerals’ shocking success: Electrifying the lithium journey down under
The action continues for Pilbara Minerals (ASX:PLS), which yesterday confirmed a major testing of the waters in the upgrading of its lithium ores.
Read MoreU.S. Department of Energy released updated Critical Materials Assessment
The report, titled "Critical Materials Assessment 2023," is an updated analysis of previous Critical Materials Strategy reports published by the DOE in 2010, 2011, and 2019. It identifies the materials critical to the continued deployment of clean energy technologies and evaluates potential supply risks associated with them.
Read MoreFitch Ratings cuts US credit rating to AA+
Stocks hit selloff mode Wednesday, and the Nasdaq Composite registered its worst day since February, after Fitch Ratings cut the long-term foreign currency issuer default rating for the US to AA+ from AAA Tuesday night, citing “expected fiscal deterioration over the next three years.”
Read MoreASX closes 1.29% lower as US sovereign rating falls
At the end of the trading day, the S&P/ASX 200 experienced a decline of 1.29 per cent, closing at 7,354.70. This drop was attributed to market nerves exacerbated by the downgrading of the US sovereign rating.
Read More
