The Australian share market has reached a new record high, driven by gains in 10 of the 11 sectors near midday AEST. Super Retail and Brambles are among the top performers, while James Hardie experienced a significant dive following a profit warning. Downer has announced a stock buyback, and Qube’s chairman is retiring.
In other business news, Goodman Group, a property giant, reported a $2.3 billion profit, marking a 13 per cent increase in earnings, fueled by a boom in data centres as it expands globally. Goodman Group specialises in developing and managing industrial properties and data centres. It plays a crucial role in supporting the digital economy through its data centre infrastructure.
Meanwhile, a former managing director of SafetyCulture, a $2.5 billion software company, is suing the company over a share dispute following his dismissal last year. SafetyCulture is known for its workplace safety and inspection software. It helps businesses improve safety and efficiency by providing digital tools for inspections, audits, and risk management.
Treasurer Jim Chalmers and shadow treasurer Ted O’Brien engaged in a ‘fiery exchange’ regarding government spending during an economic roundtable. Elsewhere, Israeli Prime Minister Benjamin Netanyahu has criticised Prime Minister Albanese over the recognition of Palestinian statehood.
