Business

SpaceX said it would sell more than 555 million shares at $135 each in its blockbuster IPO which is set to begin trading overnight

THE ECONOMIST: This level of America’s rich hide in plain sight — and wield enormous power.

Elon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation.

SpaceX will rank seventh among US-listed ‌firms when its shares begin trading on the Nasdaq, after the company announced its initial public offering.

One of the nation’s biggest unions has voted to down tools at Australia’s most lucrative iron ore port after a months-long stalemate with BHP over a new enterprise bargaining agreement.

Millions of Aussie workers are in line for a 4.75 per cent pay rise from July 1 – but there are warnings interest rates could hike as a consequence.

‘A good investment doesn’t automatically turn into a bad one overnight when tax law changes.’

Antonio Gracias, an investor who has built a $65 billion stake in the company, exemplifies the economic upside of being Musk’s ally.

Kevin Warsh, the unlucky new chairperson, has seen his case for lower interest rates disintegrate.

Citi’s research team has cut its profit forecasts for all four major banks as it said proposed tax changes to housing will slow demand for loans.

America’s consumer prices rose at a faster rate for a third-straight month in May, to 4.2 per cent annually, as the energy shock put more pressure on the US economy.

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

The Reserve Bank is expected to leave rates on hold next week but there are fears inflation is so high it won’t be able to cut rates even if Australia fell into a recession.

Voracious power demand from data centres could drive prices higher if they don’t actively support investment in new generation, the boss of energy giant AGL warns.