FOMC members' forecasts reveal a significant shift, with nine now predicting rate hikes in 2026, compared to none in March. The median dot plot also shows an upward revision for 2026 and 2027, indicating a more hawkish outlook.
The US Federal Reserve has decided to keep interest rates unchanged for the fourth time this year, under the new leadership of chair Kevin Warsh. Despite positive news for US borrowers, the ASX is anticipated to open lower following this announcement.
Radio host Kyle Sandilands has settled his wrongful termination dispute with ARN Media for $12.09 million. While Sandilands receives a significant payout, economist Conrad Liveris suggests ARN Media secured an "exceptionally good deal." Co-host Jackie Henderson's separate legal proceedings against ARN Media for wrongful termination are ongoing.
Shock jock Kyle Sandilands has settled his $100 million contract dispute with ARN Media for $12.09 million, with $3 million due next month. The deal resolves his wrongful termination claim after an on-air row, with Sandilands estimating the payout at $15 million. ARN Media will advertise his new platform, earning him $1.5 million over three years, while retaining 19.9% of his new venture's revenue.
Asian markets surged on news of a US-Iran ceasefire and potential reopening of the Strait of Hormuz. Woodside denied takeover rumors, while ASX admitted to misleading statements about a tech project, facing a $20.5M penalty. ANZ forecasts house price falls, and US orders Anthropic to block foreign AI access.
The ASX is expected to continue its recent rally, with ASX 200 futures indicating a 0.4% gain. This optimism is driven by a strong Wall Street close, fueled by renewed hopes for a Middle East peace deal and the successful SpaceX IPO.
The ASX 200 fell 1% as geopolitical tensions between the US and Iran impacted global markets. QBE Insurance appointed a new director, Southern Cross Media announced job cuts, and JB Hi-Fi faces refunds for misleading pricing.
ASX 200 futures indicate a 0.8% lower open at 8,601 points, following Wall Street's decline. President Trump issued a threat against Iran, while gold prices dropped 4.5%.
Australian share markets opened lower with the ASX 200 falling 0.76% to 8,620 points, dragged down by mining stocks following weaker iron ore prices. Key developments include rising multiple job-holding to 978,000 people, the RBA deputy governor speaking on the economic outlook, ASIC commencing a formal investigation into KPMG, and concerns over expiring fuel excise cuts that could raise petrol prices.
The US is proposing a 12.5% tariff on Australian goods, citing concerns over forced labor in supply chains. Australia's Prime Minister Anthony Albanese called the move unwarranted and stated Australia has robust laws against forced labor. The proposal is part of a broader US effort to rebuild its tariff regime.
The ASX is expected to open lower due to global market declines, influenced by Middle East tensions and rising oil prices. Key events include RBA governor Michele Bullock's appearance before Senate estimates and the release of fresh trade data.
The ASX 200 rose 0.4% to 8,758 points. Qantas completed its first test flight for the Project Sunrise A350, while the ACCC approved Ampol's $1.1 billion takeover of EG Australia with conditions. Economists predict a slower GDP growth for Australia.
The Australian market opened higher despite US-Iran tensions. CBA and Westpac forecast a significant economic slowdown, with GDP growth potentially flatlining. Qantas completed a test flight for its Project Sunrise aircraft, while consumer group Choice calls for a toy crackdown.
Wall Street indices saw gains overnight, with the Dow Jones up 0.6%, S&P 500 up 0.4%, and Nasdaq up 0.2%. ASX 200 futures suggest a positive opening for the Australian market.
ASX 200 futures indicate a potential drop of around 0.7% (55 points) at the start of the new trading week, despite Wall Street closing strongly on Friday. The Dow Jones, S&P 500, and Nasdaq all saw gains, with the Dow reaching a new record closing high.
Elizabeth Gaines is leaving Fortescue after 13 years, stepping down as executive director on June 30. Former Dutch Deputy PM Sigrid Kaag will join the board. Meanwhile, ASX 200 futures indicate a 0.7% drop.
ASX 200 futures indicate a positive start to the trading week, offering a much-needed boost after a largely disappointing May for Australian markets.
WiseTech has started notifying staff about redundancies tied to its AI transformation, but employees said the company removed references to AI from an email sent to China-based staff. Workers in several countries described low morale, anxiety and unclear communication.
The ASX 200 opened down 0.4% as global markets reacted to rising US inflation, potential interest rate hikes, and the ongoing US-Iran conflict. James Hardie reported a 75% profit drop, while Australian government borrowing costs hit 15-year highs.
Treasurer Jim Chalmers has ordered six Chinese-based companies and one from the British Virgin Islands to divest holdings in Northern Minerals in Western Australia, citing national interest and foreign investment framework compliance.
Oil prices surge due to attacks on UAE nuclear plant and potential US military action on Iran. G7 finance ministers meet in Paris amid energy crisis. Australia orders divestment of Northern Minerals shares from Chinese companies. US sees new Fed chair, global markets react to inflation fears.
Australia's major banks, including CBA, Westpac, NAB, and ANZ, have experienced significant share price drops in May following a recent budget and quarterly results. CBA shares have fallen over 8%, with a notable 10.4% drop on May 13th. The broader ASX 200 index has also declined over 3% this month.
G7 finance ministers and central bankers convene in Paris to discuss the Middle East conflict's economic impact, rising inflation, and energy supply concerns. Discussions also include Australia's foreign investment review and the US Federal Reserve's leadership change.
The ASX 200 is expected to open slightly down as markets make sense of the federal budget. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
