Stagflation rears its head in US GDP figures
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Market close update
The ASX 200 closed down -1.32% today to 7,581.5 as hotter-than-expected inflation data in Australia and in the US sent markets down as traders pushed back expectations of cuts.
Newmont up on strong quarter
The ASX’s largest listed gold miner, Newmont [ASX:NEM] is up by over +13% in this afternoon’s trading as the company reports its quarterly activities.
Super Retail drops on looming court case
Allegations have surfaced accusing Super Retail Group [ASX:SUL] CEO Anthony Heraghty and former HR head Jane Kelly of concealing an intimate relationship from the company. This accusation by former employees is at the centre of a looming workplace dispute headed to court.
Australian PPI up again raises fears of inflation
Judo Bank’s chief economic adviser Warren Hogan released a stark warning today, saying that the latest PPI figures that the RBA could continue to raise rates this year.
Woolworths fined $1.2 million after admitting to underpaying
Woolworths [ASX:WOW] has been fined $1.2 million after admitting it failed to pay out over $1 million in leave entitlements to over 1,200 employees.