Market Reports

• Australian Market Report: The Australian sharemarket bounced back from its seven-week low, as pressure from the bond market eased overnight and oil prices fell. The S&P/ASX 200 closed 125.10 points, or 1.5 per cent, higher at 8621.70.... [more]

• U.S. Market Report: Wall Street's main indexes declined on Thursday as resurgent oil prices reignited inflation fears and pressured equities after ‌a Reuters report signaled Tehran's hardening stance in talks with Washington..... [more]

• European Market Report: European stocks closed mixed on Thursday after a choppy session. Concerns about U.S.-Iran conflict and disappointing regional PMI data weighed on sentiment..... [more]

• Asian Market Report: Asian stocks rose broadly on Thursday as U.S.-Iran peace talks entered a critical phase and Nvidia announced record quarterly profit and revenue amid explosive demand for its advanced AI chips..... [more]

Australian Business News

• Australia’s unemployment rate has increased to an “ugly” 4.5 per cent in April, the highest rate since November 2021. Released on Thursday, the latest monthly unemployment data shows unemployment increased.... [more]

• Australia’s unemployment rate has jumped to 4.5 per cent, surprising economists and adding to the case for the Reserve Bank to keep interest rates on hold..... [more]

• What April's unemployment print means for ASX 200 investors. ASX 200 investors are celebrating April's unemployment numbers. But why?.... [more]

• A Sydney mother has beaten back an attempt to force her into the office twice a week, with the Fair Work Commission allowing her to work from home all but one day a fortnight to drop her children at school..... [more]

• Younger investors chasing quick "YOLO gains" will pay more tax than their peers who invest in slower, longer-term investments under a proposed tax overhaul the government says will fix a system.... [more]

• The Australian Securities and Investments Commission (ASIC) has initiated Federal Court penalty proceedings against Equity Trustees Superannuation Limited alleging failures in care, skill and diligence for allowing members to invest in.... [more]

• Broken trusts: The 70% tax trap facing corporate beneficiaries. Discretionary trusts are set to be hit with a minimum tax rate of 30%, so what are the alternatives for structuring wealth?.... [more]

• Looking for effective exposure to Australia’s listed property sector. With property under pressure and yields shifting, Simonelle Mody takes a look at the best way to access the A-REIT sector..... [more]

• A superannuation trustee has been accused of failing to act in the best interests of its members by allegedly allowing thousands of them to invest more than $65m into a fund that ultimately collapsed..... [more]

• Critical Resources has added a fresh layer to its battery technology ambitions after locking in a worldwide exclusive licence over battery cooling tech from Singapore’s Nanyang Technological University,.... [more]

• Terrain flags July maiden resource for Mid West gold play.... [more]

• Brightstar Resources is approaching a key milestone at its Goldfields Project in Western Australia, with final investment decision targeted for this month as approvals, engineering and site readiness advance..... [more]

• One Nation wants Australia to impose a royalty on all new gas production and take an equity stake in future projects, backing away from a tax on export profits or a domestic reserve for the east coast..... [more]

• West Wits bags A$74.4M funding for South African gold push.... [more]

• In the excitement caused by NVIDIA earnings, renewed Iran war peace hopes and hotter-than-expected unemployment down under, you could be forgiven for overlooking a fresh IPO debut on Thursday: that of SkinKandy (ASX:SK1)..... [more]

• Public transport across Tasmania will remain free for an additional 12 months, in a move aimed at easing cost-of-living pressures..... [more]

• IGO Shares Up Testing Resistance as Bulls Eye Breakout. IGO shares (ASX: IGO) are amongst the ASX 200 leaders today, up 7.46% to A$9.07 at the close, as technical traders eye a potential breakout above the A$9-$9.30.... [more]

• Thinking of buying CSL shares? This is how you will know when it's time.... [more]

• Elon Musk’s social network X has admitted breaking Australian law. Ending a near three-year legal fight by conceding to a $650,000 Federal Court penalty..... [more]

• Analysis - Mike Taylor: The Australian Prudential Regulation Authority (APRA) last November released a disappointing analysis of how superannuation funds had been addressing their obligations under the Retirement Income Covenant..... [more]

World Business News

• U.S. economy is showing the strain from Iran war as nearly 3-month conflict drags on.... [more]

• US jobless aid filings fell to 209,000 last week as layoffs remain low despite economic uncertainty.... [more]

• Turmoil in the bond market, fueled by the war with Iran, is sending US mortgage rates higher and threatening to make buying a home even more expensive..... [more]

• California’s Governor Signs A.I. Order Aimed at Protecting Workers. Gov. Gavin Newsom issued an executive order to explore an overhaul of labor policies to deal with potential mass job displacement from artificial intelligence..... [more]

• White House postpones executive order on AI.... [more]

• Nvidia’s Jensen Huang wants to be king of a brand-new empire. The chip maker is paving its way into a potential $200 billion market for central processing units.... [more]

• Anthropic is paying SpaceX $15 billion per year.... [more]

• A trillion dollar question: Will SpaceX's Starship launch go well?.... [more]

• SpaceX revealed its long-awaited plans to go public on Wednesday, shedding light on the finances and leadership of one of the largest, best-known and yet most secretive private companies in history..... [more]

• SpaceX not the behemoth everyone thought.... [more]

• Grok falls flat in Washington, undercutting SpaceX's AI growth story. SpaceX’s initial public offering is set to be the largest in history, partly fueled by its promise to grab a chunk of what it calls a multi-trillion-dollar market.... [more]

• Amkor Technology partners with AMD on chip packaging.... [more]

• Walmart issued a worse-than-expected financial outlook on Thursday as it reported fiscal first-quarter results, raising questions about the health of the U.S. consumer as high gas prices strain shopper budgets..... [more]

• Waymo halts Atlanta robotaxi service after vehicle drives into flood.... [more]

• Stellantis plans to increase its North American sales by 35% by 2030, including by reviving its beleaguered Chrysler brand that has relied on one product for several years..... [more]

• Meta Platforms (META.O), on Thursday settled the first case set for trial ‌seeking to make social media companies cover the costs that school districts say they have incurred to combat a mental health crisis allegedly fueled.... [more]

• SpaceX IPO filing lifts European space stocks.... [more]

• The European Union’s executive commission cut its growth outlook and predicted higher inflation due to sharply higher energy prices from the war in Iran — but said the economy will avoid an outright recession..... [more]

• Euro zone consumer confidence rises to -19.0 in May.... [more]

• UK agrees £3.7bn trade deal with six Gulf states.... [more]

• Rachel Reeves will cut VAT to 5% on summer attractions such as theme parks and soft-play centres during the school holidays as she aims to ease the impact of the war in Iran on cash-strapped households..... [more]

• BT loses more than 800,000 broadband customers in a year as telecoms giant unveils new cost-saving plan. The telecoms giant said it was upping its cost-saving target to £3.7 billion.... [more]

• Companies in the UK’s dominant services sector have reported one of the sharpest declines in business activity in a decade, according to a closely watched index. Businesses are grappling with a “perfect storm”.... [more]

• EasyJet issue summer fuel update after sharp rise in financial losses.... [more]

• France ​faces mounting public finance risks as budget-tightening lags and ‌debt remains high, the International Monetary Fund said on Thursday, warning that insufficient efforts could leave the country vulnerable.... [more]

• Spotify (SPOT.N), on Thursday laid out an ambitious roadmap to drive growth and profitability ‌through the end of the decade, doubling down with AI-powered features to boost user engagement and partnering with Universal Music.... [more]

• China’s yuan hits 3-year high as global banks issue bullish forecasts. Beijing has set the yuan at its strongest level against the US dollar since early 2023, with banks projecting further appreciation.... [more]

• Authorities in Taiwan are investigating three people on suspicion of using forged documents to smuggle computer servers containing advanced Nvidia chips to China, prosecutors said Thursday..... [more]

• Samsung Chip Workers to Get Average $340,000 Bonus in AI Boom.... [more]

• LIV Golf is preparing to take its updated business plan and investor pitch on the road as soon as Thursday, in an effort to raise fresh capital to continue operations past the end of the current season,.... [more]

• LG Electronics India banks on premium goods, localisation amid Middle East war.... [more]

• Air India CEO says successor will have "hands full" amid operational challenges.... [more]