Market News

Saudi Arabia (and Russia for the moment) would be enjoying the hikes in world oil prices due to the deepening crisis between Israel, Lebanon, and the Palestinians. However, this joy will be temporary because forecasts released this week reveal rising pressures on spending and a worsening budget position. The most dramatic part of the update […]

Lithium Universe Limited (ASX:LU7) CEO Alex Hanly discusses the company’s prefeasibility study, operational costs and development timeline. Peter Milios: I’m Peter Milios from the Finance News Network, and today I’m talking with Lithium Universe (ASX:LU7). Lithium Universe, trading under the ASX code “LU7”, with a market capitalisation of approximately $10m, is dedicated to closing the

Stocks fell on Tuesday as rising tensions in the Middle East overshadowed strong performance from the previous quarter. The Dow Jones Industrial Average decreased by 173.18 points, or 0.41 per cent, closing at 42,156.97. The S&P 500 dropped 0.93 per cent to 5,708.75, and the Nasdaq Composite slid 1.53 per cent to 17,910.36. West Texas

Mining executives have long anticipated an energy transition “supercycle” that would reshape the industry, moving away from China’s strong demand for raw materials to a more global and strategic approach. Yet, this transition has yet to occur, with the sector still heavily reliant on China, as recent developments have highlighted. Shares of the “big four”

CME Group has launched contracts tracking the price of spodumene, a key raw material for lithium batteries, heightening its competition with the London Metal Exchange (LME) in the global battery metals market. On Monday, the U.S. exchange announced its plans to introduce futures contracts for spodumene, the lithium-rich rock mined for chemicals used in electric

Oil prices surged on Tuesday following Iran’s missile attack on Israel, raising concerns that the Middle East could be heading toward a full-scale regional conflict that might disrupt global energy supplies. Brent crude, the international benchmark, soared as much as 5% to $75.40 a barrel during intraday trading, while the U.S. benchmark West Texas Intermediate

The volatile building approvals data from the Australian Bureau of Statistics has again delivered — instead of a large rise, as we had in July, we got a big fall in August. ABS data showed that total dwellings approved last month fell 6.1% to 13,991. That partially reversed the 11% increase in July (up from

Struggling women’s fashion retailer Mosaic Brands (ASX:MOZ) is hacking into its business to try and stay alive. The company will exit five brands and close more than 200 stores as it struggles to get its shares listed back on the ASX after they were suspended because the company didn’t lodge them in time. The company

Shares in Sigma Healthcare (ASX:SIG) jumped more than 25% yesterday after the ACCC invited submissions. This was in relation to the pharmacy wholesaler’s proposed court-enforceable undertaking regarding its $700+ million acquisition of Chemist Warehouse. The Commission published a statement of issues in June which revealed a range of preliminary competition concerns with the proposed acquisition

Now this is a bit of a surprise — Australian retail sales jumped sharply in August, but shoppers are supposed to have been put to sleep by high interest rates and pressure on household incomes. The tax cuts that started on 1 July, we have been confidently told by media business writers, economists banks and