Market Reports

• Australian Market Report: The Australian sharemarket closed higher on Wednesday as investors piled into consumer stocks, shrugging off the latest escalation in the Middle East and another tech sell-off on Wall Street..... [more]

• U.S. Market Report: After showing a lack of direction early in the session, stocks have moved mostly lower over the course of the trading day on Wednesday..... [more]

• European Market Report: European stocks closed broadly lower on Wednesday amid lingering concerns about Middle East tensions and continued weakness in the technology sector..... [more]

• Asian Market Report: Asian stocks ended mostly lower on Wednesday as Middle East tension flared again and regional inflation data underscored persistent price pressures..... [more]

Australian Business News

• The ongoing failure of some superannuation trustees to address issues and faults in their death benefits claim handling processes and delivery of member services is contributing to an overall “weakness” in the industry’s ability.... [more]

• Payday superannuation starting 1 July could change how every Australian thinks about their retirement.... [more]

• Credit Corp reaffirmed guidance twice and lifted its lending outlook.Credit Corp (ASX: CCP) fell 16.7% in early February after its first-half result came in below expectations, with net profit missing the market by 10%.... [more]

• Viking Mines has kicked another goal at its Linka tungsten project in Nevada, USA, delivering an impressive 76 per cent recovery to produce a high-value 56.9 per cent tungsten oxide concentrate.... [more]

• Nyrstar smelters in Hobart and Port Pirie to receive $105 million in further federal-state government help.... [more]

• DeSoto Resources (ASX:DES) has commenced a major 10,000-metre drilling campaign at its Timbakouna Gold Project in Guinea, marking the first modern drilling program across the highly prospective gold corridor..... [more]

• The large Mount Todd gold mine near Katherine is gearing up to restart production, after nearly three decades in hibernation. The soaring price of gold, on a bull run since 2020, has led to gold mines reopening and expanding.... [more]

• What is Fluorspar and why is it flying? For the last couple of years, all things in the critical minerals and gold sectors have dominated the ASX greatest hits list, particularly in a post-Donald Trump trade-war world..... [more]

• The owner of Australian pharmacy group Chemist Warehouse is in talks with UK pharmacy chain Boots to buy the business in a deal reported to be worth more than $14 billion..... [more]

• Avoid this overvalued ASX healthcare share. Pro Medicus (ASX.PME), a provider of software for radiologists to quickly view, enhance, and manipulate images from any device and make a diagnosis..... [more]

• ASX-listed antiviral drug development company Island Pharmaceuticals has advanced its Galidesivir drug development program, aimed at treating the deadly Marburg Virus Disease..... [more]

• Four AFL stars are crowdsourcing part of their cult ready-to-drink drink brand, giving everyday Australians the chance to buy a piece of the company. Barry was founded by AFL players.... [more]

• Boresight shares soar on ASX debut after $8 million IPO.... [more]

• Retail giant Kmart is setting up its first physical showroom for furniture and homewares as it seeks a bigger slice of a $35 billion market, with Rob Scott, the chief executive of its parent company Wesfarmers,.... [more]

• Kmart customers have hailed the return of “common sense” as the retailer confirms it is refurbishing more of its stores to return cash registers to the front entrance..... [more]

• Up to 200 jobs expected to be axed across Seven Network.... [more]

• Supermarket giant Woolworths is offshoring hundreds of corporate jobs and will begin consultations with potentially affected staff today. The retailer would not confirm how many of its 10,000 corporate employees would be affected.... [more]

• Comment - Greg Jericho: For those shedding a tear over house prices falling, these numbers may change your mind. An average home would cost $595,500 now if prices were the same relative to income as before John Howard.... [more]

• Analysis - Colin Kruger: Scandalised KPMG faces parliamentary house of horrors.... [more]

World Business News

• Oil up as Trump vows more attacks on Iran; crude in SPR hits lowest since Aug 2023.... [more]

• Gold enters a bear market for the first time since 2022. How the ‘safe-haven’ metal got here. It’s been 91 days since gold hit its recent peak — making for the quickest entry into a bear market since 2008.... [more]

• Since hitting a record high of $126,000 last fall, bitcoin has dropped to just above $60,000 amid waves of selling. That has erased more than $1.2 trillion in market cap in eight months.... [more]

• US consumer inflation breaks above 4% as Iran war raises energy prices.... [more]

• SpaceX wants regular investors to help its stock launch. Here’s what to know before clicking ‘buy’.... [more]

• Life on the edge of Musk's Starbase brings fortunes and fractures.... [more]

• Visa is teaming up with OpenAI to give AI agents a way to spend money on users' behalf, within limits..... [more]

• CVS Health stock hits 52-week high at 98.44 USD.... [more]

• Microsoft (MSFT.O), is limiting employees' use of Anthropic's Claude Fable 5 because of the AI startup's new data retention requirements.... [more]

• Amazon.com is the latest Big Tech company to raise external financing for its artificial-intelligence ambitions, announcing Wednesday a $17.5 billion delayed-draw term loan facility..... [more]

• ERock valued at $5.5 billion as energy firm's shares fall in NYSE debut.... [more]

• General Motors is expanding efforts to capitalize on the expected growth of energy storage and data centers by promoting different battery cell chemistries, while also offering more support for its electric vehicle owners.... [more]

• The court officials overseeing the NFL’s $1 billion-plus settlement fund for concussion-related injuries have barred five law firms from handling any more claims from former players, after finding that they fraudulently steered clients.... [more]

• Bank of Mexico says Mexican financial system maintains solid position.... [more]

• The Fifa Men's World Cup is set to be the biggest betting event of all time, with more than $50bn (£37.4bn) in wagers placed globally. The tournament will see punters place bets worth around $500m per match.... [more]

• UK poised to ease steel tariffs as manufacturers warn of costs. Exemptions being considered after March announcement of measures to support domestic steel production.... [more]

• Europe faces a widening €1.4 trillion ($1.62 trillion) annual investment gap that risks holding back its economic objectives including energy transition, the European ​Banking Federation said on Tuesday, urging simpler rules.... [more]

• Mike Ashley’s Frasers makes €1.98bn takeover bid for Hugo Boss.... [more]

• Kalshi to make some users reveal job details to tackle insider trading.... [more]

• WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East, prompting the company to raise fresh capital from investors..... [more]

• Germany's economy is likely to slip into a technical recession this year as an energy ​price shock triggered by the war in Iran ‌derails a fragile recovery, the DIW economic institute said on Wednesday, cutting its 2026 growth forecast in half..... [more]

• Tesla (TSLA.O), Full Self-Driving supervised driver assistance software ​has been authorised in ‌Belgium, Annick De Ridder, the transport minister of Flanders ​region said on Wednesday ​in a post on X..... [more]

• Chip-equipment maker ASML (ASML.AS), will cut fewer jobs than ​initially planned, Dutch unions ​said in a statement ⁠after talks with ASML..... [more]

• Asian equities are witnessing a surge in foreign outflows in June as escalating Middle East hostilities and a pullback in AI-linked technology stocks following underwhelming results ​by Broadcom, prompt investors to trim exposure..... [more]

• China car exports jump 73% in May as high fuel prices raise interest in EVs.... [more]

• Indonesian state firm Pertamina has raised some fuel prices by almost a third in the first increase since the Iran war ​began, and the finance minister said there would be limited impact on inflation ‌amid investor concerns.... [more]

• Bank Indonesia Chief Touts Higher Bond Yields to Investors.... [more]

• India's equity market has been "over-punished" for lacking a direct artificial intelligence (AI) play and for its exposure to rising oil prices, according to BlackRock.... [more]

• Opinion - Max Motz: SpaceX is launching a historic IPO — but its biggest risk has nothing to do with rockets. Elon Musk admits he ‘cannot predict’ when his massive venture will make money, even as Starlink revenue tops $11 billion.... [more]