Markets
Markets
Intel's worst day since 1974 drags the Nasdaq down
Intel fell 28.58 per cent and the Nasdaq dropped 2.86 per cent as investors questioned the returns on Big Tech's AI spending.
Technology
Binance loses US$6.3 billion in biggest crypto hack on record
Hackers drained up to US$6.3 billion from Binance's hot wallets. About US$3 billion has been frozen and bitcoin fell below US$77,000.
Markets
Record rare earth prices lift Lynas revenue 55 per cent
Western buyers paying above market for non-Chinese supply lifted Lynas's average price 88 per cent, but plant shutdowns will cut output this quarter.
Technology
ASIC looks at brokers behind the failed $44 billion Firmus float
The regulator is making inquiries into the lead managers on the abandoned $44 billion listing, as Firmus faces up to US$550 million in chip payments by December.
Technology
Alphabet loses US$500 billion in its worst day since Google floated
Investors dumped the Google owner after AI spending pushed its quarterly cash flow US$9 billion into the red and search revenue fell short.
Markets
Westpac cuts jobs again as banking layoffs spread
About 140 roles are affected this week, taking this month's cuts to roughly 250. The bank says its restructure is not driven by AI.
Markets
Think tank wants GST on fresh food to fund income tax cuts
Grattan also wants a higher GST rate and increased welfare payments, but Labor says a GST rise is not on its agenda.
Markets
Japanese takeover bid lifts Challenger shares to eight-year high
Dai-ichi Life's non-binding offer values Australia's leading retirement income provider at $7.94 billion. Challenger's board is considering the bid.
Opinion
Households carry the inflation fight as rates hit a 15-year high
Treasury should help curb demand from public spending, which higher interest rates barely touch even as they squeeze household budgets.
Australians face faster price rises than most rich countries
US bank regulator fines Bank of America a record amount
High oil prices squeeze Australia before jobs and inflation tests
Wall Street caps record week despite high borrowing costs
China deal could more than halve hybrid car exports to Europe
Trump turns to Putin for diesel, and Ukraine cries foul
Households greet rate rise with recession-era gloom
AI company locks in Australia's biggest float since Telstra
Nvidia shares hit a record as investors bet on the AI boom
OpenAI wants investors to pay far more before it goes public
Claude's maker chases a record float despite billions in losses
Australia raises rates again, leaving only Iceland higher
Australia's 10-year bond yield hits highest since 2011
Hormuz oil crossings fall 70 per cent as US-Iran talks stall
US inflation cools to 3.4 per cent, cutting September hike odds to 38 per cent
Ukraine pounds warships and grain terminals at Russia’s biggest Black Sea port
Home prices fall 0.7% in July, steepest drop in three years
SpaceX revenue jumps 92% but $18.3bn spending drives a loss
China factory PMI drops to 49.2 in first contraction since March
Bank of England holds rate at 3.75% amid Iran war uncertainty
