Updated
World markets
Miners, utilities drag ASX into the red
The ASX closed out a quiet session in negative territory on the back of a mixed lead from Wall Street, after Fed chair Jerome Powell did little to change the market’s expectations of when the US central bank will cut rates.
- by Jessica Yun
Latest
Booktopia axes 165 jobs as administrators field interest from 60 parties
Barely two dozen employees remain at the embattled book retailer whose administrators found the business didn’t have the funds to retain them.
- by Jessica Yun
Updated
World markets
ASX stages broad-based rally, Telstra jumps after raising prices
The Australian sharemarket surged on Tuesday after gains in big-name US technology stocks on Wall Street overnight lifted the S&P 500 Index to its 35th record high of the year.
- by Jessica Yun
Huy Fong sriracha is almost impossible to find. Have we already moved on?
Many Australians are struggling to find their favourite brand of hot sauce – but some aren’t mourning Huy Fong’s absence in the market.
- by Jessica Yun
Exclusive
Franchising
Bubble tea battle: Sharetea Australia ‘very happy’ after three-year fight against Taiwanese giant
Sharetea Australia has gained the exclusive rights to use the brand in the country – but it faces ongoing battles with disgruntled franchisees.
- by Jessica Yun
Updated
Insolvency
Online bookseller Booktopia enters voluntary administration; Dymocks circles
The embattled retailer has appointed voluntary administrators after several months of trying to secure funding.
- by Jessica Yun
Lifting the yoghurt tub lid: Does Chobani have room left to grow?
The Greek brand already commands a dominant position in the market but new boss Scott Hadley wants to see it in every fridge in Australia.
- by Jessica Yun
Seek, Indeed and Gumtree urged to join fight against ‘brazen’ job ads
The regulator is asking a broader gamut of organisations to get involved in cracking down on job listings with illegally low pay.
- by Jessica Yun
Updated
World markets
Technology, bank stocks buoy ASX; Wall Street braces for inflation report
The ASX edged higher as traders looked ahead to a key US inflation report that could influence the Federal Reserve’s next move on interest rates.
- by Jessica Yun
ASX dips after choppy day on Wall Street
The Australian sharemarket closed lower today after Wall Street struggled for direction ahead of a key US inflation report.
- by Jessica Yun and Millie Muroi
Updated
World markets
Consumer stocks drag down ASX as inflation ‘shocker’ dashes rate hopes
Consumer discretionary stocks fell sharply after higher-than-expected inflation raised the odds that the Reserve Bank might consider raising rates instead of much-hoped-for rate cuts.
- by Millie Muroi and Jessica Yun