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Business
Deal nowhere near the shore for Gruyere gold mine owners
With spot gold consistently hitting all-time highs, another multi-billion dollar gold merger has been roadblocked this month after Gold Road Resources (ASX : GOR) refused a $3.3 billion takeover bid by South Africa’s Gold Fields. The first one to stall was between Canadian miners Equinox Resources attempting a takeover of Calibre Mining - a similarly priced $2.83 billion deal that seems somewhat dead in the water at this point in time. If Gold Fields had its way, it would give the miner full ownership of the Gruyere mine which churns out about 285,000 ozpa, as well as exposure to De Grey Mining (ASX : DEG) with an almost 18% stake.The Gruyere gold project. Credit: Gold Road ResourcesThe offer was priced at a 21% premium at $2.27 per share - a variable portion equal to the value of Gold Road’s shareholding in De Grey, which with its 11Moz+ gold Hemi deposit in the Pilbara is soon to be acquired by Northern Star Resources (ASX : NST) for a cool $5 billion. Gold Road counter-offered to buy out Gold Fields' own stake as a reply - with both parties unable to reach a deal with each other. The miner said it noted that “the receipt of the offer coincided with a lower March 2025 quarter production due to maintenance on the primary cr
Nickel Industries rises after surprise earnings uptick Aussies see evergreen funds as private market hot-spot FBI forms task force to investigate attacks on Tesla
Business
COSBOA calls for Budget to prioritise small business
The Council of Small Businesses Organsitaitons Australia (COSBOA) is calling for tonight's Federal Budget to prioritise small businesses, warning that failure to do so would be unfavourable for the Australian economy. The COSBOA is asking for bold action in the form of tax reform, red tape reduction and greater support for employers strutting with the cost of living and regulatory pressures. COSBOA CEO Luke Achterstraat said that small businesses are currently running on empty and the reforms are needed to boost Australia’s economy. “A small business-led recovery is the only way to strengthen the economy, create jobs, and ensure Australia remains globally competitive,” he said. “If the Federal Budget fails to deliver real support, we risk seeing more closures, higher prices, and a weaker economy for everyone.” The two areas COSBOA is asking the government to focus on are tax reform and red tape reduction. The organisation believes that the current tax system is holding small businesses back and calls for reform through a permanent and expanded Instant Asset Write-Off, a review of payroll tax, Reintroducing the Small Business Technology Investment Boost, and Exploration of tax relief for new small businesses.
Politics
'It cannot go on': Greenland slams high-profile US visit
United States President Donald Trump has reiterated his want to annex Greenland and defended U.S. officials' visit to the country. “I think Greenland’s going to be something that maybe is in our future. I think it’s important. It’s important from the standpoint of international security,” Trump said at a cabinet meeting on Monday (Tuesday AEDT). “ It cannot go on the way it is. It’s not going to go on the way it is.” This comes after Greenland leaders criticised high-profile U.S. leaders for their visit to the country. The visit is being led by Usha Vance, the wife of U.S. Vice-President JD Vance, White House national security advisor, Mike Waltz and energy secretary Chris Wright. Greenland Prime Minister, Múte B. Egede told Greenland newspaper, the Sermitsiaq that the visit was a provocation, slamming Trump for sending Waltz. “The only purpose is to show a demonstration of power to us, and the signal is not to be misunderstood,” Egede said. “(Waltz) is Trump's confidential and closest advisor, and his presence in Greenland alone will certainly make the Americans believe in Trump's mission, and the pressure will increase after the visit.” Egede also called for more support from the country’s democratic alli
Business
EV maker BYD hits record high as revenue exceeds Tesla
Shares in BYD (BYDDF) were up around 5% to 53.34 on Monday following revelations that the Chinese electric vehicle maker had for the first time since 2018 eclipsed rival Tesla (NASDAQ: TSLA) with US$100 billion ($170 billion) in revenue. Better-than-expected fourth-quarter full-year earnings saw BYD, the world's largest electric vehicle maker, report revenue of 777 billion yuan (US$107 billion or $170 billion) for the 12 months ended December 31, beating analyst estimates of 766 billion yuan. While Tesla still maintains a substantial lead in net profitability, today’s result is seen as a significant milestone in BYD’s rapid ascent in the global car market. Nowhere is this ascent more prevalent than within vehicle numbers: BYD and Tesla delivered comparable fully electric vehicle numbers last year of 1.76 million and 1.79 million respectively. Overall, BYD’s total vehicle deliveries, including hybrid models, hit 4.27 million units, which puts it closer to a league of entrenched global players like Ford Motors in the U.S. BYD’s management has told the market to expect sales of between 5 million and 6 million vehicles in 2025. While Tesla has struggled to maintain its position in China, BYD now commands around 15% of the mark
Business
Hyundai eyes tariff pass with US$21bn for EV industry
Korean carmaker Hyundai says it will invest US$21 billion across the EV value chain within the United States in an effort to avoid looming tariffs on the automotive industry. A quarter (US$5.6 billion) of the capital will be directed towards the construction of a steel factory in Louisiana that will feed into its car production plants in neighbouring Georgia and Alabama. That will soften the blow on the carmaker having to import parts and vehicles from overseas and be subject to a further 25% levy on 2 April. US$9 billion will go towards expanding car production in the U.S. up to 1.2 million units per annum, expanding future industries, partnerships and infrastructure - including EV charging. A further US$6 billion will get spent on parts and supply chains, with the Korean auto giant - which owns the Kia brand too - saying the investment up until 2028 will create >100,000 direct and indirect job opportunities. The cash injection will also coincide nicely with the release of its long-anticipated Ionic 9, which aims to rival European and Chinese brands for market share. The White House says Hyundai is far from the only car producer that's announced significant investments in the American automotive supply chain, with tril

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Markets
APAC markets rise as Wall St rallies on tariff optimism
Asia-Pacific markets climbed on Tuesday as investors reacted to Wall Street’s strong gains, fueled by optimism that United States President Donald Trump may take a softer approach to tariffs. Australia’s S&P/ASX 200 gained 0.7%, while South Korea’s Kospi inched up 0.1%. Japan’s Nikkei 225 advanced 1.2%. Investor sentiment was also shaped by the Bank of Japan’s latest monetary policy meeting minutes. The report indicated that most policymakers believed the likelihood of achieving their economic outlook had improved: "Most members expressed the view that prices had been developing generally in line with the Bank's outlook presented in the previous Outlook Report. “Members agreed that inflation expectations had risen moderately.” The positive momentum followed Wall Street’s rally on Monday, as the Dow Jones Industrial Average surged 598.0 points or 1.4% to 42,583.3, the S&P 500 climbed 1.8% to 5,767.6, while the Nasdaq Composite advanced 2.3% to 18,188.6. In commodities, Brent crude rose 1.2% to a three-week high of US$73.00 per barrel, while spot gold eased 0.4% from all-time highs, trading at US$3,012.15 per ounce. Chinese markets also rose, with the Shanghai Composite adding 0.2% to 3,370.0, while the CSI 300 increased 0
Markets
US futures tick lower after markets cheer tariff relief
United States stock futures ticked lower on Monday night (Tuesday AEDT), following a strong rally during the day as hopes grew that President Donald Trump might scale back his initial broad tariff plans. By 9:15 am AEDT (10:15 pm GMT), futures for the Dow Jones Industrial Average and S&P 500 were unchanged, while Nasdaq 100 futures eased 0.1%. In extended trading, KB Home dropped 7.4% after reporting earnings and revenue below expectations, while also lowering its forward guidance. During Monday’s session, the Dow Jones Industrial Average surged 1.4%, the S&P 500 climbed 1.8%, and the Nasdaq Composite rose 2.3%. Wall Street remains cautious amid inflationary concerns and slowing economic growth as it awaits the Trump administration’s reciprocal tariff rollout on 2 April. However, investor sentiment improved after reports indicated that the White House may narrow the scope of the tariffs. Later in the day, Trump commented on potential tariff exemptions, saying, “I may give a lot of countries breaks” on reciprocal duties. He also confirmed that tariffs on certain industries, including pharmaceuticals and automobiles, would still be introduced in the “near future”. Meanwhile, ANZ analysts highlighted improving global comp
Economy
Venezuelan oil purchases come with 25% US trade tariffs
United States President Donald Trump has announced he will placing a 25% tariff on all imports from any country that buys oil or gas from Venezuela, as well as imposing new tariffs on the South American country itself. In a Truth Social post on Monday, Trump called Venezuela “very hostile” toward the U.S. and that as a result, other countries purchasing oil from it would face a subsequent tariff on all their trade to the U.S. Trump plans to begin this from 2 April and the new tariffs would be most likely to impact China, which in 2023 bought 68% of the oil exported by Venezuela, according to a 2024 analysis by theU.S. Energy Information Administration, but other nations have still enjoyed Venezuelan oil purchases and will possibly face the new taxes, including the U.S. itself.Credit: EIA Data Source: Vortexa Ltd.This new action follows an endto the Chevron-Venezuela licensing in February, a reversal of a Biden era relationship that allowed the company to operate in Venezuela.
Business
Woolworths, Coles dominate Australia's markets: ACCC
Australia’s supermarket industry is heavily dominated by Woolworths and Coles, according to the ACCC’s Supermarket Inquiry report, with the Australian Small Business and Family Ombudsman (ASBFEO) calling for support for small grocery businesses. The report found that Coles and Woolworths have substantial advantages in securing new supermarket sites and acquiring fresh produce. The ASBFEO said its own findings agreed with the ACCC’s, and said that this emphasised the need for its ’14 steps to energise enterprise’ endeavour for small businesses. “Just as a lost visitor seeking directions might receive the wry response: ‘Well, I wouldn’t start from here’, so those looking for a properly functioning supermarket sector — capable of delivering durable best value for consumers and a fair go and fully respectful commercial dealings between suppliers and big retailers — would not start from here,” ombudsman Bruce Billson said. “But we are where we are, and we must stay vigilant seeking to improve the competitiveness and fairer conduct between the parties in the highly concentrated supermarket sector.” Woolworths’ and Coles’ promotional practices and loyalty programs can be confusing to consumers, the report also said, as it can be di
World
Russian missile attack injures dozens in Sumy, Ukraine
Dozens have been injured in a Russian missile attack in the Ukrainian city of Sumy, including at least 17 children according to the city's council. The strike landed at the same time as 12 hours of peace talks over a potential ceasefire were being held between the United States and Russia, on Monday in Saudi Arabia. The attack on the "densely populated residential area" on Ukraine's north-east caused damage to residential areas and an educational facility, the regional prosecutor's office said, leaving at least 88 injured according to latest reporting. Regional governor Volodymyr Artiukh said several high rise apartment blocks had been impacted by the strike and that the school children injured were in a shelter at the time. The full impact of the attack is still unfolding. In his evening address, Ukrainian President Volodymyr Zelensky said that “every single day of this war brings loss, pain, and destruction that Ukraine never wanted.” “The war was brought from Russia, and it is to Russia that the war must be pushed back. They must be the ones forced into peace. They are the ones who must be pressured to ensure security.”