ASX: The local market is expected to fall at the open after the US market closed out its worst first half since 1970.
This comes after the since the start of the pandemic, amid renewed concerns over rising interest rates and their impact on the global economy.
Wall Street: US stocks fell on Thursday, with the major averages for the month of June, second quarter and first half of 2022, as concerns over heightened inflation and the prospects of a recession weighed heavily on risk assets.
Crypto: The US is still working towards . The President’s Working Group on Financial Markets met in a closed door meeting overnight.
The group discussed oversight of stablecoins , which caused shockwaves in crypto markets in early May.
New year, new rules: Today is the first day of the new financial year, and that means a number of regulatory changes will come into effect.
Workers will see a boost to their superannuation contributions as the from 10 to 10.5 per cent today. By 2025, the rate is proposed to reach 12 per cent.
Meanwhile, jobseekers will now need to satisfy a .
The “points-based activation system” will commence on July 4.
New year, new money: if they shop around for a better energy deal, as the state's default offer increases amid rising expenses and inflation.
From today, the one-off payment will be open to all Victorian households who compare their energy deal through the Victorian Energy Compare website under an expanded state government program
And 2.6 million Australians will benefit from a that comes into effect today. This means Australia’s lowest-paid workers will get an extra $40 a week.
Property fall: The is underway and falls are expected to accelerate in coming months as rising interest rates take their toll.
On the market: A real estate agent has been picked to owned by missing Sydney fraudster Melissa Caddick.
The investment broker disappeared in November 2020, hours after the Australian Federal Police and Australian Securities and Investments Commission raided her Dover Heights home.
Super Retail Group says sales rebounded in the second half of fiscal 2022 and the new year is off to a strong start, but it's expecting that momentum to slow as interest rates hikes and inflation bite.The Supercheap Auto, Rebel Sports, BCF (Boating, Camping and Fishing) and Macpac brand owner on Wednesday reported $3.
Biotech giant CSL expects profit to rebound in the current fiscal year, after reporting a decline for the 2021/22 year, but has also flagged higher costs as blood plasma collection volumes return to pre-pandemic levels.The vaccine and blood products supplier expects net profit for fiscal 2022/23 to range between $US2.
Cloud accounting technology company Xero has warned of another year of volatility for small business customers.Xero chair David Thodey said on Thursday supply chains remain constrained, contributing to levels of inflation not seen since the 1980s, interest rates are rising, and global economic growth is predicted to slow.
Transurban says its fourth-quarter toll road traffic exceeded pre-pandemic levels, but is forecasting a 2022/23 return to shareholders well below market expectations.The toll road operator on Thursday said it expects to distribute 53 cents per share in FY2023, 30 per cent higher than in 2021/22 but under consensus estimates of 60 cents.
Santos is reaping the gains of energy instability at home and abroad with a record result in the first half of 2022.The oil and gas company on Wednesday reported record production, earnings, cashflow and a tripling in underlying profit in the six months to June 30 on increased demand and rising prices.
Origin Energy has left investors on edge after reporting a loss for full-year 2022 and failing to provide profit guidance for the year ahead.The gas and electricity company on Thursday reported a statutory loss of $1.