US stocks have closed lower as investors fret over the effects of surging inflation on economic growth and corporate earnings.
Devik Jain and Noel Randewich
Surging inflation fears are driving Australian shares lower after Wall Street endured one of its toughest nights in two years.
The Australian sharemarket did little to recover after it shed billions of dollars on Thursday morning, with retail stocks in a tailspin.
Beach Energy will stick with acting chief executive Morné Engelbrecht to lead the company’s push to complete the $768 million Waitsia joint venture gas project near Dongara.
The oil and gas company says the overwhelmingly support for its $27b buyout of BHP’s oil and gas business is stronger proof of shareholders’ support for its energy transition plans.
Environmental protesters have gathered ahead of Woodside’s AGM in Perth on Thursday amid a heavy security and police presence as investors vote on a mega billion-dollar tie up with BHP’s oil and gas assets.
The big falls on Wall Street have led Asian share markets lower in morning trade as worry about global inflation, China's COVID-19 policy and the Ukraine war.
Stella Qiu and Alun John
Major retailers have hit multi-year lows on fears of rising fuel and freight costs with the Australian stock market falling sharply in morning trade.
Neale Prior and Derek Rose
US stocks have closed sharply lower amid investor concerns about rising inflation.
Noel Randewich and Amruta Khandekar
Positive sentiment on Wall Street helped the Australian sharemarket secure gains for a fourth straight day on Wednesday.
Monash IVF Group chief executive Michael Knaap says there is strong M&A interest in the sector despite some COVID-related uncertainty, as the company revealed it had gained a foothold in the WA market.
Danielle Le Messurier
Long-suffering shareholders of Wiluna Mining Corporation are again facing an anxious wait as the embattled gold miner scrambles to avoid collapse.
Growth-focused superannuation funds could be lucky to break even this financial year unless there is a recovery in share markets over the next six weeks.
Asian shares have been flat after giving up earlier gains amid worries about inflation and rate rises, while the US dollar settled after an kicking overnight.
The major miners are leading the market higher as iron ore prices rise as China reopens.
Heavy rain on the east coast and soaring energy prices continue to impact the earnings of building materials supplier Boral, with the company revealing a fresh $45 million hit to its earnings.
Eagers Automotive has warned a drop in the number of vehicles it will deliver in the first six months of 2022 due to the war in Ukraine, lockdowns in China and a shortage of chips will hit its results.
Elon Musk negotiated the Twitter deal without carrying out due diligence, the company says, as the Tesla CEO keeps the takeover "on hold" over spam accounts.
Greg Roumeliotis and Tom Hals
US stocks have closed higher as investors cheered the release of solid retail sales in April.
Amruta Khandekar and Noel Randewich
BHP boss Mike Henry says he expects COVID and Ukraine-led supply chain disruptions to last as long as 2-3 years.
The Australian Securities and Investments Commission is expecting mandatory climate-related disclosures for public companies will become a reality sooner rather than later.
The investment bank’s research analysts believe Australian resources stocks offer much better value given the threat of higher interest rates and inflation.
The crypto world has been riveted by the rapid collapse of the TerraUSD stablecoin. But its implosion may bring about something just as noteworthy: the death of a major blockchain.
The local share market has posted its third consecutive winning session, although the gains were modest.
© West Australian Newspapers Limited 2022