The mania for businesses directly linked to demand for AI is set to sweep across the ASX as soon as the June quarter with two potentially large listings.
Gina Rinehart’s Hancock Prospecting and Angela Bennett’s Wright Prospecting have both had partial wins in a multimillion-dollar legal battle over some of the world’s most valuable iron ore areas.
Virgin Australia has followed rival Qantas and will start cutting flights as it battles to keep a lid on rising jet fuel costs amid a seesawing oil market roiled by war in the Middle East.
The International Monetary Fund is urging the Reserve Bank to look through the energy price shock and warns the government against wasteful stimulus measures.
Australians’ confidence in the economy has evaporated under the weight of out-of-control inflation, rising interest rates, fuel shortages and a Middle East war.
Australian households are bracing for more financial pain in the coming months as soaring fuel prices coupled with higher-for-longer interest rates crunch budgets.
The ongoing ructions between the US and Iran and an unease ceasefire that is yet to deliver a deal on a lasting peace has forced Qantas to adjust capacity.