Morning business roundup

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Read a sample of the Morning Business Roundup from today.

Market Reports

  • Australian Market Report: Despite climbing by as much as 0.85 per cent this morning, the Aussie market finished its first session of the new financial year in the red, with the ASX 200 sliding by 28.2 pts or 0.43 per cent, to 6539.9..... [more]

  • U.S. Market Report: Wall Street bounced back to a sharply higher close in light trading on Friday as investors embarked on the second half of the year ahead of the long holiday weekend..... [more]

  • European Market Report: European stocks ended on a mixed note on Friday after a somewhat choppy session with investors looking for directional clues and making largely cautious moves amid persisting worries about rate hikes and a possible recession..... [more]

  • Asian Market Report: Asian stocks ended broadly lower on Friday amid growth worries, as a slew of surveys showed regional manufacturing activity stalled in June and many companies were hit by supply disruptions caused by China's strict COVID-19 lockdowns..... [more]

Australian Business News

  • 18 Share Tips – 4 July 2022.... [more]

  • Dogs of the ASX for the 2022 financial year.... [more]

  • There appears little doubt that the Reserve Bank of Australia will lift the cash rate again when its board meets on Tuesday, the third monthly hike in a row. If economists are correct, borrowers will be looking at another 50 basis point increase as the RBA tries to rein inflation as it balloons towards seven per cent this year from an already lofty 5.1 per cent..... [more]

  • Why banks are cutting some interest rates on variable home loans You may be surprised to see some banks have cut interest rates on home loans. .... [more]

  • Home prices drop for the second month in a row as Reserve Bank's aggressive interest rate rises hit hard.... [more]

  • CountPlus subsidiary, CountPlus One has acquired Sydney-based accounting business, CDC Partners. Countplus announced the transaction to the Australian Securities Exchange (ASX) today noting that it involved a purchase of $600,000 plus an upside payment if revenues exceed certain targets with a maximum consideration of $800,000 having been agreed..... [more]

  • Australia's mining and energy export revenues are forecast to climb 3% to a record A$419 billion ($286 billion) in the year to June 2023, buoyed by surging coal and gas prices in the wake of Russia's invasion of Ukraine, the government said on Monday..... [more]

  • Australia’s resources exports break records amid global energy crisis.... [more]

  • Victoria will end incentives for residential gas products by the end of next year as it encourages residents to embrace sustainable alternatives amid a national energy crisis. The state government said new incentives were being developed to help the two million people who used gas at home or in their businesses shift to other energy sources..... [more]

  • Australia’s coal-fired power generators, including AGL, will come under greater pressure from shareholders to set earlier closure dates, spend more on renewables and support affected communities after the market operator updated its assumptions on the pace of change sweeping the industry..... [more]

  • Beaten-down DDH1 closes up on buyback.... [more]

  • Why did the Kogan share price sink 22% in June?.... [more]

  • Global Express will split from former parent Toll Group’s IT environment with the help of outsourcer Infosys. Infosys said it had signed an agreement with Global Express to oversee “technology separation”, after the business was sold by Toll’s owner Japan Post to Allegro Funds last year..... [more]

  • Mighty Craft (ASX:MCL) secures upsized debt facility of $20m with PURE Asset Management.... [more]

  • Arovella Therapeutics Ltd (ASX:ALA) has maintained its $30.5 million valuation and A$0.05 share price target from Edison Investment Research, following the launch of ZolpiMist, the spray version of Ambien for insomnia to the Australian market..... [more]

  • Harris Technology Group’s (ASX:HT8) shares slide over declining revenue.... [more]

  • The eastern suburbs experiment: Grocery innovation’s new test market. Some of Sydney’s richest suburbs have been used by start-ups and supermarket giants alike to test and fine-tune retail innovations and rapid delivery services with affluent customers willing to spend a bit extra to claw back time in their day..... [more]

  • Fed-up Australian shoppers are demanding businesses up their green efforts, after years of climate change wreaking havoc on the country and grocery prices. Some businesses are responding by creating action plans to become more eco friendly, from reducing emissions to banning plastics..... [more]

  • Opinion - Clancy Yeates: Bitcoin’s big bet: Is crypto trading basically gambling?.... [more]

World Business News

  • Wall Street’s bubble may be gone, but stocks can still fall.... [more]

  • Bitcoin has fallen back below $20,000 as stocks continue to sell off, but the cryptocurrency could be poised for an end-of-year rally to $28,000, Deutsche Bank said in a recent note..... [more]

  • The Supreme Court’s latest climate change ruling could dampen efforts by federal agencies to rein in the tech industry, which went largely unregulated for decades as the government tried to catch up to changes wrought by the internet..... [more]

  • ‘Worst downturn in recent history’: Zuckerberg issues dire warning on economy.... [more]

  • "Dr. Doom" economist Nouriel Roubini says stocks could plunge another 50% as the US heads towards a severe financial crisis.... [more]

  • Tesla’s sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles. The company on Saturday disclosed it sold more than 254,000 cars and SUVs from April through June, an 18% drop from the first three months of this year and also well below the pace in last year’s final quarter..... [more]

  • Trump media company subpoenaed in federal criminal probe of SPAC deal.... [more]

  • Argentine President Alberto Fernandez held meetings and telephone calls on Sunday as he scrambled to find a new economy minister, official sources said, after the abrupt exit of ally Martin Guzman shook the country's center-left government..... [more]

  • Inflation Is Posing 19 Problems for One Central Bank. After more than a decade of worrying about low inflation, the European Central Bank is trying to tackle the problem of high inflation across the eurozone’s economies..... [more]

  • Electric cars sold in UK passes half a million despite supply chain issues.... [more]

  • Germany's road traffic agency said it was recalling Tesla (TSLA.O) models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles globally. The KBA watchdog said on its website dated June 29 that a software flaw was causing a breakdown of the eCall, which is designed to automatically contact emergency responders in the event of a serious accident..... [more]

  • The Nigerian gas deal, the Irish impresario and the £8bn ruling amid claims of bribery. Officials allege contract was corruptly procured by business duo behind P&ID as saga of energy project and secretive tribunal heads for high court.... [more]

  • No guarantees Swiss will always have enough gas, minister says.... [more]

  • French care home company Orpea, under pressure over its business practices and the way it runs its homes, on Sunday announced proposals to shake of its board of directors to improve governance..... [more]

  • Chinese property developer Shimao Group (0813.HK) has missed the interest and principal payment of a $1 billion offshore bond due on Sunday, in the latest blow to China’s embattled property market..... [more]

  • Nio, XPeng and Li Auto reported healthy sales of electric cars in June as they emerge from Covid-19-induced disruption.... [more]

  • With no fuel and no cash, Sri Lanka keeps schools closed.... [more]

  • The founder of ride-sharing group Ola said granting special incentives to Tesla in India was not be in the best interests of the country, as New Delhi works to accelerate the growth of homegrown champions in the electric vehicle sector..... [more]

  • India, the world's largest producer of sugar, is restricting exports .... [more]

  • Analysis - Nichola Saminather:Canada's light touch regulation of ESG funds risks 'greenwashing' claims.... [more]

  • Opinion/Analysis - Faisal Islam: Why is the UK economy suffering more than other countries?.... [more]

  • Analysis - Jorge Otaola and Eliana Raszewski: Hasty exit by Argentina's economy minister could deepen market crisis.... [more]