Money News with Ross Greenwood: Highlights
The minimum wages will rise to $24.94 after the Fair Work Commission approved an increase of 3.5% to take effect on the 1st of July.See omnystudio.com/listener for privacy information.
The future of AI put on the national agenda by the Business Council; Soul Patts & Brickworks enter into a merger; US and China again strained in trade relationship; Donald Trump lifts tariffs on steel & aluminium; planning your retirement; Imax plans more cinemas for Australia; and Adam Dawes joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
While it’s never too late to plan when you want to retire, trying to beat the market might see your super end up worse off in the long run.See omnystudio.com/listener for privacy information.
The trade war between the US and China has threatened to boil over again, just weeks after a truce was declared. MARKET WRAP: ASX200: down 0.24%, 8414 GOLD: $3,289 US/ounce BITCOIN: $162,704 Soul Patts rose 16.4%, and Brickworks gained 27.6% after a $14 billion merger deal was struck. Aluminium companies were scared off by the weekend lift in tariffs by the US, with Alcoa down 4.8%, and South32 dropping 3.6%. BHP lost 1.2%, Fortescue down 2.5% and Rio Tinto off by 1.7%. Mineral Resources fell another 11.8% to $19.58. Bluescope Steel gained 4.4% to $23.75 James Hardie up 1.4% to $35.94 Wisetech, Sigma Healthcare, and Origin Energy were all lower Up by more than 1% was QBE, Coles and Xero CURRENCY UPDATE: AUD/USD: 64.8 US cents AUD/GBP: 47.8 pence AUD/EUR: 56 Euro cents AUD/JPY: 92 yen AUD/NZD: 1.07 Dollars See omnystudio.com/listener for privacy information.
Washington H Soul Pattison will merge with Brickworks in a deal worth $14 billion, after a long courtship finally took the next step.See omnystudio.com/listener for privacy information.
A $14 billion deal between Washington H Soul Pattison and Brickworks will put an end to a 56-year protection arrangement, which steel & aluminium again feels the wrath of Trump.See omnystudio.com/listener for privacy information.
Just as quickly as tariffs were halted, they could be back on again, after a US appeals court said it would hear the case. Retail spending was softer over the month of April, falling 0.1% due to unseasonally warm weather. The AFR Rich List for 2025 puts Gina Rinehart at the top of the tree with $38.1 billion in wealth. And the ASX puts record highs in its sights again. Interview with Yolanda Redrup, AFR Rich List Editor. Host: Tom Storey Email us your thoughts to moneynews@nine.com.auSee omnystudio.com/listener for privacy information.
See omnystudio.com/listener for privacy information.
See omnystudio.com/listener for privacy information.
Donald Trump will have to fight to get his tariff plan through, after a trade court found he used impermissible means to get them legislated.See omnystudio.com/listener for privacy information.
Inflation remains steady at 2.4%; the reunited Coalition announces its shadow cabinet; Woodside gets approval on its North West Shelf project; how Victoria is aiming to fix its ailing business sector; helping businesses squeeze rewards out of everyday costs; Myer’s new loyalty project; almond prices rise; and Carl Capolingua joins us for the Market Wrap. Host: Deb Knight Executive Producer: Tom Storey Assistant Producer: Taylor Capannolo Technical Producer: Karl Bianco Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
With businesses already having to outlay huge costs, a fintech company is helping them reap some rewards through frequent flyer points.See omnystudio.com/listener for privacy information.
The inflation rate came in steady, but it disappointed some investors who were hoping for better signs on rate cuts. MARKET WRAP: ASX200: down 0.13% to 8,396 GOLD: $3,342 US/oz BITCOIN: $169,222 AUD Web Travel Group saw its shares rocket 12.4% to $5.26 Goodman Group lifted 0.9% to $32.96 on its 3rd quarter update. Up over 1% was REA, Pro Medicus and Qantas. The big four banks all slid, with NAB the worst, down 1.1%. Mineral Resources cut its full-year guidance on iron ore, sending shares down 5.5% to $22.45. While Fisher and Paykel Healthcare dropped 4.8% to $32.49, despite revenue climbing over $2 billion for the first time. CURRENCY UPDATE: AUD/USD: 64.5 US cents AUD/GBP: 47.7 pence AUD/EUR: 56 Euro cents AUD/JPY: 92 Japanese yen AUD/NZD: 1.07 NZ dollars See omnystudio.com/listener for privacy information.
Victoria’s state budget showed that net debt is on track to blow out to $194 billion, so what does the state need to get back on track?See omnystudio.com/listener for privacy information.
The Australian share market finished slightly lower, even with the energy sector jumping from the news that Woodside would be able to extend the life of its North West Shelf project.See omnystudio.com/listener for privacy information.
Australian energy costs to grow, as the former RBA governor calls for more supply; Telstra pivots towards infrastructure; ATO’s reminder on GST fraud; Small Business Ombudsman sees green shoots; the new $7 billion Universal theme park set to take on Disney dominance; and Henry Jennings joins us for the Market Wrap. Host: Deb Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
Year13 is building its business by making the bridge between leaving school and entering the workforce.See omnystudio.com/listener for privacy information.
Telstra is taking its business in a new direction, choosing to focus on infrastructure as the AI era continues to drive business. MARKET WRAP: ASX200: up 0.56% to 8,407 GOLD: $3,342 US/oz BITCOIN: $170,130 AUD Commonwealth Bank again edged towards another record high at $175.34. Neuren Pharmaceuticals rose 4.5% to $14.05 after an AGM speech. Aristocrat gained 1.9%, Wisetch was 2.2% higher, and Brambles was up by 3%. REA slid 3.5% after it was confirmed that the ACCC was in the early stages of a probe Dropping by more than 1% was Evolution Mining, Bluescope Steel and Mirvac. CURRENCY UPDATE: AUD/USD: 64.5 US cents AUD/GBP: 47.6 pence AUD/EUR: 56 Euro cents AUD/JPY: 92 Japanese yen AUD/NZD: 1.08 NZ dollars See omnystudio.com/listener for privacy information.
Australia’s energy bills are set to rise from July 1, with the former head of the RBA saying that energy costs are stifling business & productivity.See omnystudio.com/listener for privacy information.
The ASX 200 had another winning day as Telstra outlined its plan for a new direction.See omnystudio.com/listener for privacy information.
With cost of living pressures still affecting many Australians, the hurt to both the hip pocket and to mental health is evident.See omnystudio.com/listener for privacy information.
Is Wisetech’s $3.2 billion move for e2open as much about changing the view of the company as it is about the deal itself? MARKET WRAP: ASX200: flat 0.00%, 8361 GOLD: $3,365 US/ounce BITCOIN: $168,447 Origin Energy shares dropped 4.9% to $10.51. Half year results from agribusiness Elders saw profits rise to $64.3 million, but shares down 6.7% to $6.16. Lower were ANZ, Rio Tinto, and Woodside. Wisetech Global announcing a $3.2 billion takeover of US logistics software firm E2open. Shares rose 4.7% to $104.75. Genesis Minerals was 2.1% higher after saying it would acquire the Laverton Gold Project for $250 million. Focus Minerals jumped more than 80% Paladin up 8.8%, Boss up 7.3% and Deep Yellow up 13.7%. CURRENCY UPDATE: AUD/USD: 65.1 US cents AUD/GBP: 48 pence AUD/EUR: 57 Euro cents AUD/JPY: 93 yen AUD/NZD: 1.08 Dollars See omnystudio.com/listener for privacy information.
Interest rate movements have already made a change to the property market, with the second highest clearance rate of the year recorded at weekend auctions.See omnystudio.com/listener for privacy information.
Healthscope goes into receivership; property prices predicted to rise, as auction clearance rates jump higher; the sorry state of small business; Only Fans up for sale; energy prices on the rise; warning on meat as drought conditions hit; natural disaster scam emerges; and Kyle Rodda joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
The ASX didn't suffer the fate of Wall Street on Friday after talks between the US and the EU delayed tariffs of 50%, while Healthscope is looking to get itself off life support with a new owner.See omnystudio.com/listener for privacy information.
The Liberal and National parties look likely to address their differences and reunite after a week of turmoil almost saw the end of an 80-year arrangement. The number of detractors of the government’s superannuation policy grows. How to deal with intergenerational wealth transfer as the Baby Boomers continue to retire. And the ASX ends the week on a high. Interview with Marshall Ross, Partner Education Manager at MLC Life Insurance Email us your thoughts to moneynews@nine.com.auSee omnystudio.com/listener for privacy information.
The Productivity Commission will seek feedback on its plan to boost the nation's growth, with the government on board.See omnystudio.com/listener for privacy information.
MARKET WRAP: ASX200: down 0.45%, 8348 GOLD: $3,334 US/ounce BITCOIN: $171,650 AUD BNPL pioneer Zip fell 6.5% to $1.87 after rival Klarna warned it was seeing more customers struggling to repay their loans. Wesfarmers expects losses in its lithium business, with shares down 1.2% to $83.90. Brent Crude fell back below $65 US a barrel, wiping 1.3% from Woodside and 0.9% from Santos. Rio Tinto CEO Jakob Stausholm will step down later in the year. Fortescue also announced aftermarket that its energy head Mark Hutchinson would exit the company after almost three years. SKS Technologies, soaring 21% after securing a $100 million contract for a data centre project. Northern Star Resources up 5.4% and Newmont 2.3% higher. Insurer IAG was up by 2.7% after the ACCC cleared the way for it to buy RACQ. See omnystudio.com/listener for privacy information.
Executives walk at both Rio Tinto and Fortescue; Bitcoin cracks through $110,000USD; Productivity Commission seeks opinions on how to boost the economy; Women’s State of Origin outrates the Men’s AFL; NBA playoff tickets selling for up to $62,000; and Tony Sycamore joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Chris Blancato Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
The second Women’s State of Origin match outrated the AFL’s Thursday night offering, helping again to put women’s sport on the broadcasting map.See omnystudio.com/listener for privacy information.
The passage of a stablecoin bill through US Congress has given hope to crypto traders about good times ahead, helping Bitcoin break new ground.See omnystudio.com/listener for privacy information.
Elon Musk recommits to Tesla; Twiggy Forrest warns on Chinese demand for iron ore; electric vehicle conversions growing for business transport; PwC escapes scrutiny earlier than expected; mortgage holders playing the waiting game for rate cuts; Westpac likely to cut 1500 jobs; and Grady Wulff joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
The Reserve Bank has lowered the cash rate, but some mortgage holders will be waiting up to a couple of weeks for the changes to take hold. Visit https://www.athena.com.au/?utm_medium=podcast&utm_source=money_news&utm_campaign=may25_rate_dropSee omnystudio.com/listener for privacy information.
Travel agency bookings for domestic flights have been softer, which could cause problems for Webjet. MARKET WRAP: ASX200: up 0.52%, 8386 GOLD: $3,292 US/ounce BITCOIN: $165,309 AUD Seek on track to hit the top half of guidance on its revenue and profit, sending shares up almost 7% to $23.69. Commbank up 1.5%, NAB up 1.2%, and ANZ up 0.3%. Even after signalling 1500 job losses would be on the way, Westpac still rose 0.2% Woodside and Santos both up by more than 1%. WebJet was flat as it reported a net profit after tax of $5.1 million. Mayne Pharma dropping almost 30% to $4.55 as its $672 million takeover by US-based Cosette looked under threat. James Hardie lost 6.2% after saying the US renovations market was not as strong as it would like. Down more than 1% was Aristocrat Leisure, Computershare and Suncorp. CURRENCY UPDATE: AUD/USD: 64.4 US cents AUD/GBP: 48 pence AUD/EUR: 57 Euro cents AUD/JPY: 92 yen AUD/NZD: 1.08 Dollars See omnystudio.com/listener for privacy information.
The increase in demand for electric vehicles has extended to business transport, with Janus Electric relisting on the ASX today.See omnystudio.com/listener for privacy information.
Can Australia's huge success in iron ore continue, especially if China commits to green steel? Twiggy Forrest isn't so sure...See omnystudio.com/listener for privacy information.
The Reserve Bank cuts the cash rate by 25 basis points to 3.85%; the National Party leaves the Coalition; Technology One rides the tech boom; Victoria’s government debt to balloon to $194 billion; how to build a gelato empire; and Evan Lucas joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.
Every small business dreams of making it big, so how has a gelato empire been built from just a single store?See omnystudio.com/listener for privacy information.
A credit rating downgrade of the US hurt the Australian share market, but how significant is it for investors? MARKET WRAP: ASX200: up 0.58%, 8343 GOLD: $3,229 US/ounce BITCOIN: $163,965 AUD Technology One, which posted a 33% increase in profit to $81.9 million, shares up 11.3% to $36.76. Wistech rising 2.7% and Life360 up 1.6%. Commbank again hitting fresh highs at $172.43. Wesfarmers, Goodman Group and Telstra all finished higher. Regis Resources down 1.1% to $4.55. Utilities stocks were lower again, with Origin, APA Group and AGL all down. Falling by more than 1% were Northern Star, Resmed and Fisher & Paykel Healthcare. CURRENCY UPDATE: AUD/USD: 64.2 AUD/GBP: 48 pence AUD/EUR: 57 Euro cents AUD/JPY: 93 yen AUD/NZD: 1.09 Dollars See omnystudio.com/listener for privacy information.
The Reserve Bank has cut the cash rate for the second time in three meetings, with mortgage holders breathing a sigh of relief.See omnystudio.com/listener for privacy information.
The Reserve Bank has cut the cash rate to 3.85% after both trimmed mean and headline inflation settled in the target band.See omnystudio.com/listener for privacy information.
The Productivity Commission sets out its big picture goals; Labor’s superannuation changes attract more criticism; the downgrade of the US government set to hit markets; the Vic government predicts a surplus in its Budget; and Adam Dawes joins us for the Market Wrap Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.