Economics

A 22-year high for US interest rates was reached thanks to the latest decision from the Fed, yet markets continued unaffected, and the Dow ended higher for yet another session.

X Corp is making strategic moves to lure brands back to its social media platform under the ownership of Elon Musk, and one of its key tactics is offering substantial discounts on ad prices.

The upcoming week holds significant importance for global stocks, as companies with a combined market value of $US27 trillion (A$40 trillion) prepare to announce their quarterly earnings.

Last week, a surge of FOMO among IPO investors was evident as Oddity Tech, the parent company of direct-to-consumer beauty brand Il Makiage, staged an immensely successful stock-market debut.

Microsoft is set to slash approximately 50 positions in Australia as part of its latest round of redundancies, a move that follows the elimination of over 10,000 jobs earlier this year.

24 Jul 2023 – Moderna is setting its sights on a groundbreaking "superjab" that could protect against the most prevalent respiratory viruses, including Covid-19, influenza (flu), and respiratory syncytial virus (RSV).

24 Jul 2023 – The rising trend of remote work is reshaping the landscape of Australian office spaces, as corporates grapple with the question of how much real estate they truly need in a work-from-home world. This paradigm shift is contributing to a surge in office vacancies, leaving landlords under increasing pressure.

24 Jul 2023 – In the ongoing economic battle between Russia and the West, Moscow has managed to breach the Western-imposed price cap on its most prized crude oil, signalling a significant victory for the Kremlin.

24 Jul 2023 – Many investors entered the second-quarter earnings season expecting the worst for regional banks. But that didn’t materialise in the results released this week—at least not for the bigger players.

21 Jul 2023 – Japan's consumer prices showed signs of picking up pace in June, indicating persistent inflationary pressures as the country's central bank gears up for its policy meeting next week.

21 Jul 2023 – Prominent electric vehicle charging company based in Brisbane, EVOS Energy, has generated significant buzz in the market with a game-changing partnership. The company recently inked a major deal with fuel giant Ampol, marking a pivotal step in the transition towards electric mobility in Australia. As traditional fuel companies, like Ampol, set their sights on a future driven by electric power rather than petrol, this collaboration demonstrates the growing significance of EV charging infrastructure in the automotive landscape.

21 Jul 2023 – Australia's historically low unemployment rate, touted as one of outgoing Reserve Bank of Australia governor Philip Lowe's notable achievements, could present challenges for his successor, Michele Bullock.

20 Jul 2023 – New South Wales and Victoria have emphasised the need for immediate investment in developing new zero-emission generation to achieve ambitious renewable energy targets. State energy ministers warn of potential challenges in transitioning without sufficient infrastructure, leading to higher electricity prices if the retirement of coal, the country's dominant power source, outpaces renewable energy development.

20 Jul 2023 – Saudi Arabia is poised to lose its position as the top oil producer in the OPEC+ alliance, according to the International Energy Agency (IEA).

19 Jul 2023 – Retail sales in the United States increased for the third consecutive month in June, signalling consumers' ongoing resilience amidst easing inflation and a robust labour market.

19 Jul 2023 – Europe's ongoing heatwave is fuelling a surge in solar electricity production across the continent, with the combination of increased solar capacity and sunny weather breaking generation records in several countries.

18 Jul 2023 – This downturn tells a story of contrasting fortunes between the haves and the have-nots. Private companies, which raced to add rigs as the pandemic waned, have now depleted many of their most lucrative wells, compelling them to decelerate their operations.

18 Jul 2023 – The recent surge in profits for some of the largest banks in the US may have temporarily overshadowed the banking crisis earlier this year.

17 Jul 2023 – Investors in the Australian equity market are gearing up for the upcoming August-23 reporting season, focusing on four key questions that will shape their investment decisions. Amid concerns about a decelerating economy, a strained consumer, and the lagged effects of the Reserve Bank's hiking cycle, market attention will primarily revolve around gauging the extent of the challenges faced by companies.

17 Jul 2023 – In recent times, discussions about an imminent copper shortage have been circulating, fuelled by the growing demand for the red metal in the pursuit of global net-zero emissions. Copper, known for its exceptional conductivity, holds a vital position in various industries, contributing to the enduring strength of its demand.

17 Jul 2023 – In a significant development, the rate of inflation is rapidly declining after more than two years of rising prices. The CPI only rose by 3% in June compared to the previous year, marking its smallest increase since March 2021.

17 Jul 2023 – The UK and EU have initiated a rollback of one of their most prominent financial regulations in an effort to reinvigorate the region's capital markets. However, investors and brokers are cautioning that the move may have come too late and could have limited impact.

17 Jul 2023 – China's announcement of export restrictions on gallium and germanium has thrust these chemicals into the spotlight, highlighting the urgent need for the West to secure critical metals and minerals essential for the green transition and emerging technologies.

17 Jul 2023 – In an unexpected turn of events, the Pentagon's annual funding bill has become the centre of a heated political battle as Republicans have inserted controversial "anti-woke" social provisions into the legislation.

13 Jul 2023 – Elon Musk has made it very clear of his ambition to jump into the field of AI. Now, he has unveiled his latest endeavour: xAI.

13 Jul 2023 – The European Commission (EC) has officially granted its approval for Broadcom's ambitious US$61 billion acquisition of virtualisation software giant VMware, albeit with certain stipulations regarding access and interoperability.

13 Jul 2023 – The International Energy Agency (IEA) has released a report shedding light on the availability of critical minerals needed to support the global energy transition.