Market News

The competition and consumer regulator is pursuing unprecedented penalties exceeding $250 million against Qantas, accusing the airline of selling tickets for cancelled “ghost flights” as part of a campaign to intimidate businesses that deceive customers. Australian Competition and Consumer Commission (ACCC) Chairwoman, Gina Cass-Gottlieb, stated on ABC Radio National that this should set a new […]

In July, new loan commitments for housing in Australia experienced a decline of 1.2%, as reported by the Australian Bureau of Statistics. The decrease was more pronounced in owner-occupied loans, which fell by 1.9%, while investor loans saw a slight decrease of 0.1%. On the other hand, personal credit demand saw a notable increase of

As the week unfolded, China faced a series of critical challenges that reverberated through its financial and real estate sectors. The largest remaining property player, Country Garden, delivered a jolt to markets with a record first-half loss of almost $7 billion USD ($11 billion AUD) and a stark warning of its potential inability to meet

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses capital expenditure across private firms. Key points:Australian capital expenditure (or business investment) across private firms rose by a stronger than expected 2.8% in the June quarter (in volume terms), with the previous quarter revised up to 3.7%qoq (from 2.4%). This leaves it

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses home price growth. Key points:CoreLogic data showed national average home prices rose 0.8% in August, up slightly from 0.7% in July, their sixth monthly rise in a row. They are now up 4.9% from their February low.Monthly gains are down from 1.2%

Stealth Global Holdings (ASX:SGI), a prominent provider of industrial supplies and solutions, has reported exceptional financial results for the fiscal year ending on June 30, 2023. The company, renowned for its diverse range of industrial offerings for workplaces, achieved significant growth and improved financial metrics. Record-breaking Year of GrowthThe company’s latest financial report underscores its

Harvey Norman (ASX:HVN) saw a 2.6% increase in its shares on Thursday as investors breathed a sigh of relief that the 2022-23 financial results were not as dire as anticipated by the market. The company’s shares experienced a boost amid market digestion of a 33% decline in profit, coupled with a 3.8% fall in revenue.

The Nasdaq Composite registered a fifth consecutive winning day, but still suffered its worst monthly loss of 2023. The tech-heavy index added 0.11 per cent to end Thursday’s session at 14,034.97. The Dow Jones Industrial Average slipped 168.33 points, or 0.48 per cent, to end at 34,721.91. The S&P 500 ticked down 0.16 per cent

The sharemarket initially traded without much change, but later in the session, it made a small recovery, allowing it to finish the day with a slight gain for the fourth day in a row. The S&P/ASX 200 index increased by 7.6 points or 0.1%, reaching a closing value of 7305.3. The broader All Ordinaries index

In the wake of significant writedowns on the value of its nickel assets acquired through the expensive Western Areas takeover, IGO (ASX:IGO) is poised to alleviate any distress for its shareholders. The company is set to deliver a remarkable final payout, including a bonus payment derived from its successful lithium ventures. IGO’s pivot to lithium