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  • Business
    Australian Associated Press

    ASX drug companies applaud TGA's psychedelic ruling

    ASX-listed small-cap drug companies are soaring as two firms announce plans to take advantage of Australia's medical regulator relaxing the rules around two mind-altering drugs.The Therapeutic Goods Administration on Friday announced it was down-scheduling psilocybin and MDMA, allowing both to dispensed as of July 1 by authorised psychiatrists to treat certain mental health conditions.

  • Business
    Australian Associated Press

    Newcrest confirms $24b takeover offer from Newmont

    Australia's biggest goldminer says it has received a tentative $24.3 billion takeover offer from the world's largest one.

  • Business
    Australian Associated Press

    Auckland flooding, claims inflation to hit IAG margins

    Insurance Australia Group says it will miss insurance margin targets after experiencing claims inflation and more than 15,000 claims related to last weekend's severe flooding in Auckland.The company behind the NRMA, CGU, SGIO, SGIC and WFI brands said on Friday while the financial impact of the Auckland storms was difficult to judge at this early stage, it expects their gross costs to exceed $350 million.