The Reserve Bank of Australia (RBA) has raised the cash rate by 25 basis points to 4.35%, citing mounting inflationary pressures and heightened global uncertainty linked to the ongoing conflict in the Middle East. The decision, announced on Tuesday, reflects concerns over rising fuel and commodity prices, alongside persistent domestic capacity constraints. The move was supported by a majorit
Australia and Japan have agreed to deepen cooperation on energy and critical minerals, in a bid to reinforce supply chain resilience amid rising global uncertainties. The agreement was reached on Monday during a three-day visit by Japanese Prime Minister Sanae Takaichi, who met with Australian Prime Minister Anthony Albanese. The move follows a landmark defence agreement signed last month, a
Games retailer and meme stock GameStop has offered to buy eBay, a company almost four times its size, for around US$55.5 billion (A$77.27 billion). GameStop currently has a 5% stake in eBay, and has bid $125 per share split equally between cash and stock. GameStop CEO Ryan Cohen said he aims to transform eBay into a rival to Amazon and boost its valuation to “hundreds of billions of dollars” if
Palantir beat earnings and revenue estimates last quarter, driven by a large increase in United States government revenue. Earnings per share were US$0.33, up from $0.13 one year ago and above LSEG consensus estimates of $0.28. Revenue grew 85% to $1.63 billion, passing estimates of $1.54 billion. “Palantir's Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched o
A fragile ceasefire between the United States and Iran appeared close to collapse on Monday after a series of escalating military incidents across the Strait of Hormuz, including Iranian drone and missile strikes on the United Arab Emirates (UAE) and a U.S. response targeting Iranian vessels. The UAE reported multiple attacks throughout the day, with its Defence Ministry stating that air defenc
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Paramount Skydance beat Wall Street’s expectations with its first-quarter earnings due to boosts from its streaming and film businesses. The company reported revenue growth of 2% to US$7.3 billion. This surpassed Wall Street expectations of $7.28 billion. This was lifted by a 11% increase in revenue year-over-year for its streaming unit to $2.4 billion. Paramount+ added 700,000 subscriber
Magellan Financial has said its A$5.3 billion global equities funds will now be managed by Vinva Investment Management, with shares falling 7.1%. Magellan’s Global Fund strategies will be included in Vinva’s Global Alpha Strategy from early June, pending sharemarket approvals. It will also end all performance fees for the funds. “Today's announcement reflects our commitment to putting client
Pinterest shares soared following the release of its first-quarter earnings. Sales for the social media company rose 18% year-over-year, despite the company posting a net revenue loss of US$73.59 million, or a loss of 12 cents per share. Last year, Pinterest posted net income of $8.92 million or 1 cent per share. Despite this, the revenue came in at $1.01 billion, surpassing Wall Street expe
Clothing retailer Accent Group has said it is under investigation by ASIC and has downgraded its half-year earnings guidance, with shares falling 13.4%. ASIC is investigating Accent for potential insider trading of the company’s shares between 23 May and 10 June 2025. Accent’s brands include The Athlete’s Foot, Platypus, and Glue Store. “The Company has received notices from ASIC requiring i
Australian dwelling approvals fell by a larger-than-expected 10.5% in March, with apartment approvals plunging after February’s growth. According to the Australian Bureau of Statistics (ABS), 17,300 dwellings were approved in March. Westpac had estimated a 10.0% decline. “The fall in total dwellings approved was driven by a 26.0 per cent drop in private dwellings excluding houses, following
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