Markets

Australia’s gold mining majors collectively gained about $7 billion on Monday as the US-Israel war on Iran gives the precious metal yet another price boost.

Share markets whipsawed on Monday in response to the US attack on Iran. There are the stocks copping the biggest sell-off.

Harvey Norman chair Gerry Harvey reckons consumers have cast aside cost-of-living pressures to stock up on AI-led computers and mobile devices, helping it deliver a 15 per cent increase in half-year profit.

Coles chief Leah Weckert says while this month’s interest rate rise has knocked consumer confidence, the supermarket giant is yet to see the impacts on shopping behaviour.

The biggest risk to Bitcoin is running out of new buyers as its supporters and crypto exchanges preach about its virtues as an inflation hedge.

Woolworths boss Amanda Bardwell says there has been a ‘gradual increase’ in the number of crunched consumers seeking out promotions since the Reserve Bank hiked interest rates this month.

Shares in the Sydney-founded company joined a tech stock rout Tuesday, on worries they will lose business to artificial intelligence giants such as OpenAI, which owns ChatGPT

The first profit result after the media group’s merger with Seven West Media was led by the radio division, which increased operating profits 28 per cent.

Soon KFC, Guzman y Gomez and McDonald’s could all be competing for customers in the morning economy for eating out for breakfast.

Australian shipbuilder Austal has signed $5 billion worth of contracts to produce Army vessels, in a deal the Albanese Government claims will generate hundreds of local jobs.