Wall Street's major indices fell as investors held back after a rally in the previous trading session sparked by an excessive rate cut by the U.S. Federal Reserve. The S&P 500 and Dow were near record highs and were on track for weekly gains of over one percent, as was the tech-heavy Nasdaq.
Global Lithium Resources will fire directors, cut its chief executive's salary and put its flagship exploration project on hold as prices for the battery metal stagnate following an attempted board ouster.
Tesla is the biggest winner of the European tariff increases for Chinese electric vehicles, as the US electric vehicle specialist receives a significant tax break.
Interpreters claim their profession is undervalued by the courts in the state of Victoria because their working hours and salaries have been cut to save costs. Interpreters say people from different cultures, languages or who are deaf are at risk of being denied access to justice due to cuts to Court Services Victoria.
Anyone who has to scrape together their mortgage payments or the down payment for a house can take comfort in the fact that another of the four major banks is lowering mortgage interest rates. Westpac announced on Tuesday that it had reduced fixed rate loan prices for owner-occupied and investment properties with immediate effect.
A major bank is expected to cut up to 600 jobs; talks with employees have reportedly already begun. According to The Australian, the Bank of Queensland plans to cut up to 600 jobs in retail banking, marketing and human resources.
If Kamala Harris wins the White House, she has put forward proposals to cut taxes for most Americans, stop price gouging by grocers and build more affordable housing. In her first major economic speech as a Democratic presidential candidate, Harris promised to introduce a new child tax credit for families with young children, tax cuts … Read more
MSCI's broadest index of Asia-Pacific stocks outside Japan rose 0.5 percent; the Hang Seng in Hong Kong lost 0.4 percent.
Australia's consumer confidence rose in August following the introduction of tax cuts and the Reserve Bank of Australia's interest rate pause, but persistent inflation continues to weigh on households.
British Prime Minister Keir Starmer will not take a summer holiday as he deals with the violent unrest that has gripped the United Kingdom.