Weekly Wrap

The closure of the US port of Baltimore after the harbour was blocked by a bridge collapse on Tuesday will cause significant disruption to American trade along the east coast and into Europe and South America.

Three per cent looks like the new normal for US interest rates after this week’s Fed meeting with its new forecasts and the updated dot plot.

The US Justice Department sued Apple in an antitrust case, claiming that the iPhone maker has a monopoly over the phone market that has harmed consumers, developers, and rival companies.

Exxon Mobil says it has made a new oil and gas discovery in the prolific Stabroek block offshore Guyana which is the hottest prospect globally for the oil and gas industry.

Unlike Australia, which didn’t get a rate rise or cut on Tuesday, the Bank of Japan (BoJ) has given that country what amounts to the first rate rise in 17 years.

China's property crackdown has started with reports on Monday night that the government has accused broken giant, Evergrande of what amounts to an US$80 billion fraud.

Oil prices experienced a notable surge in response to two significant developments: a decline in US crude stockpiles and a drone attack on a major Russian refinery.

Property problems persist for China, despite President Xi Jinping's efforts to resolve them.

Copper prices reached an eight-month peak on Wednesday following an agreement among Chinese smelters, who account for half of global copper processing, to collectively reduce production.

On Tuesday, iron ore prices displayed a distinct contrast as they rose in Singapore but dipped in the crucial Chinese market of Dalian. This shift in pricing dynamics is likely to impact sentiments surrounding major exporters like BHP, Rio Tinto, Fortescue, and Mineral Resources, who play significant roles in the iron ore trade.

Thanks to the week-long Lunar New Year break, February car sales in China fell from January and were lower over the year, with sales of conventional and New Energy Vehicles (NEVs) declining.

Monday marked a significant reversal for major banks following Friday’s surge, but the real concern for the local market emerged with a nearly 7% plummet in iron ore prices across Asia. This downturn triggered further declines in the shares of industry giants BHP, Rio Tinto, and Fortescue, compounding their losses from the previous week.

China may have boosted iron ore imports to over 209 million tonnes for the first two months of this year. However, recent data confirms that weak demand from steel mills has led to a buildup of ore shipments at the country’s 45 ports.

Britain’s Nationwide Building Society has reached a "preliminary" agreement to buy Virgin Money UK PLC for £2.9 billion ($A5.57 billion) in a deal that would create the second-largest provider of mortgages and savings in the UK.

Once again, China's appetite for major commodities clashes with the uneven health of the country's massive manufacturing sector.

Twiggy Forrest's FMG Resources has made a significant move into the highly prospective copper-gold region of central western NSW with a placement and funding deal.

Well, he didn't add more Kool-Aid to the punch bowl, but Fed Chair Jay Powell certainly didn't give markets what they really desired: a clear statement on the timing of the first rate cut.

For the second consecutive quarter, Australian economic growth lingered at the bottom of the activity curve, with a 0.2% increase from the September quarter and 1.5% growth over the year to December.

A sales deal between a hearing assistance company and a maker of loud percussion instruments may seem incongruous, but to the ASX-listed Audeara (ASX:AUA) the transaction sends out all the right notes – loud and clear.