Markets

Mexican fast-food chain Guzman Y Gomez has conceded defeat and will retreat from its ambition plans to conquer the US market.

Trillions of dollars of investment into the AI boom will lift inflation and wide the gap between winners and losers in a structural shift in share market returns.

THE NEW YORK TIMES: It would lay the groundwork for one of the largest artificial intelligence company offerings that would heighten the stakes of the technology race.

SpaceX has unveiled plans for one of the biggest sales of stock to the public ever with an initial offering that could make Elon Musk a trillionaire.

The ASX was up 0.8 per cent at midday, recovering from a seven-week low, after Donald Trump said he was scrapping plans for another attack on Iran.

The mysterious shareholding of Northern Minerals has again raised the ire of Federal Treasurer Jim Chalmers, who has issued yet more disposal orders for the rare earths miner.

THE ECONOMIST: A historian along with a technology writer uncover the essence of Muskism.

Shares in the ASX-listed company behind big-box retailers BCF, Rebel and Supercheap Auto were hammered after it reported a soft trading update as consumers batten down the hatches.

The Reserve Bank has raised interest rates by another 25 basis points to 4.35 per cent, undoing last year’s relief. Governor Michele Bullock hinted at more pain and cautioned against higher government spending.

For borrowers, the question is not simply whether rates will rise again, but if paying for certainty now is worth the risk of being locked in later.

The owner of Dan Murphy’s and BWS liquor stores is stocking up on booze as it braces for a hit of up to $8 million on higher fuel costs related to the ongoing war in the Middle East.

THE ECONOMIST: Markets are disconnected from reality and we are heading for the biggest global oil-supply shock in history, energy experts warn.

Pressure is mounting for Jim Chalmers to sharpen the axe in his upcoming Federal Budget as economists from Deloitte warn years of revenue windfalls have ‘papered over’ structural flaws in the nation’s finances.

Australia’s banks, insurers and super funds have been warned by their regulator they are unprepared for the threat of AI-related fraud.

THE ECONOMIST: It’s dangerous work, but post-war reconstruction and diversification brings opportunities for the cowboys of the energy industry.