netwealth Morning Business Roundup for Saturday, 30 November, 2024

Your daily digest of the latest finance and business news. To view the online version click here. Netwealth Morning Business Roundup Saturday, 30 November, 2024 Market Reports Australian Market Report: The S&P/ASX 200 fell 8.1 points, or 0.1 per cent, to 8436.2 points at close on Friday, after adding 0.5 per cent on Thursday. The Australian dollar saw minor gains in value, and was trading at US65.17 cents at 4.20pm AEDT.... [more] - U.S. Market Report: The S&P 500 and Dow Jones Industrial Average notched record closing highs in a shortened Black Friday session... [more] - European Market Report: European stocks closed higher on Friday amid expectations of further rate cuts by central banks despite data showing an acceleration in eurozone inflation.... [more] - Asian Market Report: Asian stocks ended mixed on Friday, with a stronger yen amid Bank of Japan rate hike bets weighing on Japanese markets, while Chinese stocks logged strong gains on stimulus expectations... [more] NETWEALTH IQ REPORT 2024 ADVICETECH: BUYER'S GUIDE Just released! Netwealth’s 2024 AdviceTech Buyer’s Guide - a comprehensive tool to help advisers identify and adopt the right technologies for today and plan for the future. In this guide you will find: An overview of 30+ AdviceTech solutions with descriptions, benefits, and key suppliers. Analysis of technologies with significant shifts in adoption and broader industry trends. Insights into Netwealth’s AdviceTech Stars who are a benchmark for technology adoption and commercial success. Make the most of this useful resource to help design your firm’s technology roadmap. Download now Australia News ANZ has punted back its prediction for when the Reserve Bank will cut interest rates, thanks to the strong jobs market and rising consumer confidence.... [more] - The Reserve Bank will now have a separate board just to set interest rates. Here’s why that’s significant ... [more] - Australians are increasingly embracing Black Friday sales amid warnings of their impact. Record $6.7bn expected to be spent from Friday to Monday but some brands choosing to opt out over over consumption concerns... [more] - First home buyers need easier access to finance and the ability to co-share home loans: inquiry ... [more] - Cbus chair Wayne Swan has defended the controversial appointments of three CFMEU-linked directors to the board of the $94 billion superannuation giant, as he apologised to 10,000 members... [more] - The Financial Services Council (FSC) is arguing strongly that the Compensation Scheme of Last Resort (CSLR) should not be expanded to Managed Investment Schemes (MISs).... [more] - Can we expect ASX shares to soar to record highs in December?... [more] - ASX small caps offering great value right now. Considering investing in small caps? See our top ASX picks.... [more] - Key themes and top picks from across the globe... [more] - A recent report by Goldman Sachs shows that sustainable investing in Asia-Pacific (APAC) has reached a milestone, with the region’s sustainable fund assets rising to an all-time high of US$250 billion in Q3 2024.... [more] - Resolute Mining shares up 8% after it makes second Mali payment... [more] - Aurum Resources (ASX:AUE) has stepped up its interest in the Ivory Coast-based Boundiali Gold Project (BGP), to 80%. However, shares have dipped nearly -5% early in the second hour of Friday trades as every sector sinks into the red.... [more] - Pilot Energy has entered into a joint development agreement with Capture6 Corporation to progress Capture6’s direct carbon-from-air capture (DAC) technology at Pilot’s Mid West Clean Energy Project (MKEP) in WA.... [more] - Woolies denies bare shelves as strike enters new week... [more] - The Woolworths share price has dived another 8% in a month. What now?... [more] - CBA continues building out generative AI capabilities... [more] - Star Entertainment chief executive Steve McCann has told investors that daily average gambling revenue plunged 15.5 per cent in the first four weeks after cash gambling was restricted at its Sydney casino in August,... [more] - ‘Shame, shame, shame’: Star grilled by angry shareholders. Major casino giant Star Entertainment has faced fiery shareholders due to the business’s poor performance in recent years.... [more] - Analysis - Jackson Hewett: Australia goes backwards as interest rates reset to a higher base... [more] - Opinion - Clancy Yeates: Do the changes to Australia’s $230 billion giant mean anything? There’s a certain tension in Treasurer Jim Chalmers’ recent move to require the taxpayer-owned Future Fund to consider “national priorities”... [more] World News Gold prices jump as dollar dips on rate cut bets, geopolitical tensions rise... [more] - Trump's tariffs could cost carmakers up to 17% of combined core profits, S&P says... [more] - Is Black Friday still a holiday shopping juggernaut in 2024?... [more] - Online shoppers set Thanksgiving Day spending record after big discounts ... [more] - Will the Markets Check Trump’s Power? The president-elect cares about financial markets, our columnist says. That gives investors a restraint on his decisions, even if it’s a tenuous one.... [more] - Microsoft is set to go under the microscope of the nation’s top antitrust watchdog, the Federal Trade Commission, which is launching a sweeping investigation into the tech giant’s practices.... [more] - Canadian Prime Minister Justin Trudeau said Friday that if President-elect Donald Trump follows through on this threat to impose sweeping tariffs on Canadian products, he would be raising prices for Americans and hurting American business.... [more] - Canada's economy grew at an annualized rate of just 1% in the third quarter, less than what the Bank of Canada had predicted, prompting currency markets to boost bets for a jumbo rate cut next month.... [more] - Canadian news publishers sue OpenAI over alleged copyright infringement... [more] - Russia's Gazprom swings to Q3 loss on one-off tax as 9-month income surges... [more] - The Bank of England warned on Friday that higher trade barriers could hit global growth and feed uncertainty about inflation, potentially causing volatility in financial markets and pushing up borrowing costs for businesses and consumers.... [more] - Black Friday online sales in UK rise by 12% but shops still feel the pinch... [more] - Rome seeks ways to counter UniCredit’s takeover bid for BPM. Andrea Orcel’s move has frustrated Giorgia Meloni’s plan to merge state-backed Monte dei Paschi di Siena with BPM... [more] - Czech online grocer Rohlik Group's valuation has nearly doubled from three years ago to 1.85 billion euros ($1.95 billion), calculations from bond issue documents show.... [more] - New World Development names Huang Shaomei CEO as Eric Ma resigns after 2 months. Huang’s three-year contract will see her earn HK$984,880 a month; Ma has quit to pursue other personal commitments, NWD says... [more] - Fast-growing specialty e-commerce sites such as PDD's (PDD.O), Temu and its rival Shein are branching deeper into the business of selling toys as many American and European shoppers prepare to seek out steep bargains... [more] - China’s EV price war is so brutal that BYD is trying to pinch its suppliers ... [more] - Uniqlo is facing an online backlash in China after the boss of its parent company said the Japanese clothing retailer does not source cotton from Xinjiang.... [more] - Almost a week after bombshell allegations by the US of Gautam Adani’s involvement in a bribery plot, an outpouring of public backing for the Indian billionaire slowly began to build.... [more] - Adani Group CFO rejects bribery allegations, India says no US request yet on case... [more] - Qatar’s sovereign wealth fund takes a stake in Audi’s future F1 team... [more] Morning Business Roundup