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Business
Light & Wonder mulls sole ASX listing; brokers see bounce
While it’s not your typical tech stock, cross-platform global games company, Light & Wonder (ASX: LNW) could be primed to bounce higher despite Aristocrat Leisure’s (ASX: ALL) lawsuits in the Australian and United States courts against its rival poker machine maker. Recent market weakness aside, both Light & Wonder and Aristocrat are down around 17% and 8% respectively due to the current legal overhang.Court actionAristocrat alleges that the Caledonia-backed dual-listed gaming giant engaged in a campaign to copy its most popular game, Dragon Link - and confuse customers. Aristocrat, which is no stranger to court action, also alleges that former employees who now work for Light & Wonder purloined trade secrets - related to the Jewel of the Dragon (JOD) and Dragon Train (DT) games. An Australia court has already denied a request by Aristocrat Leisure for an interlocutory injunction regarding Light & Wonder's Dragon Train game. This effectively, allows Australian venues to keep the Dragon Train game on their floors. Meanwhile, Light & Wonder is trying to have its rival’s allegations thrown out of a U.S. court, on the grounds that they’re part of a concerted effort to undermine the release of its new games. Best estimat
Anglo American off De Beers; in talks with banks for IPO Stablecoin provider Circle seeks IPO; eyes US$5bn value ASX 200 ticks higher; real estate rallies, miners fall
Business
Sword of Damocles: Tariffs 2.0 put sharemarket on notice
Global stock markets fell sharply on Monday after the United States President Donald Trump hinted that new tariffs would hit all countries. While Trump, forever the showman, has not disclosed what that means, markets have been preparing for the worst-case outcome. Treasury has identified the “Dirty 15” — countries with the largest goods imbalances with the US — as possible early tariff targets. This group includes China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada and India. Given that the ASX200 shed $50 billion following the first tariff announcement in February 2025 - its worst fall since September 2024 – it is hardly surprising that investors are rattled by tomorrow’s tariffs 2.0. Since trading at 8555 points on 14 February, the ASX has fallen 7% to 7955.Uncertainty reignsWhile a lack of clarity has fuelled market swings and kept investors guessing, the Washington Post reported that a 20% blanket tariff on most imports is under consideration. US officially stated that the measures will take effect “immediately” once announced. At the epicentre of Trump’s tariff announcements, the U.S., the S&P 500 is down 4.6% for the first quarter, while the Nasdaq has slid over 10%. One measure of heightened
Business
Star teeters on the brink after refinancing deals sinks
Just when it looked like the corporate cards could not be further stacked against it, Star Entertainment has been dealt another losing hand. The casino and entertainment company is on the brink of going bust after revealing a key refinancing deal collapsed and it remains in danger of running out of cash. Star said an A$940 million (US$592 million) offer that could provide it with sufficient liquidity to refinance all of its debt had now been withdrawn by alternative asset manager Salter Brothers Capital. The company said after extensive engagement with Salter Brothers and third parties including State governments and regulators, it became apparent a number of conditions precedent could not be satisfied to address its liquidity needs. In particular, lender requirements for specific priority arrangements and enforcement rights in relation to their proposed security over non-gaming assets could not be met. Star said it could not lodge its half-year report without an appropriate refinancing solution. It continued to explore liquidity solutions including a $250 million capital injection from American gaming giant Bally's Corporation. “However, there remains material uncertainty as to the Group's ability to continue as
Wealth
India & AI: Good advice starts with correct risk profiling
Azzet recently caught up with Adelaide-based Partnership Advisory partner, Vik Chopra, for insights into how his advice firm is dialling down the current market uncertainty around trade war impact on global markets. Azzet: While the ASX200, and global markets have bounced somewhat since the first major trade-war induced selloff, investors remain spooked that major market falls are yet to occur. How are you handling the growing investor fear within these highly volatile markets? Vik Chopra (VC): Admittedly, it is easier to bring on new clients when markets are strong. But given that we spend a lot of time around a client’s risk appetite for volatility right from day one, we don’t feel the need to twist asset allocations when markets fall over. Younger clients in accumulation phase shouldn’t be panicking and should have no requirement to cash out which only locks in losses. They’ve got plenty of time to see markets correct. so they should have a healthy exposure to growth assets. By comparison, we recommend our older investor cohort are heavily exposed to defensive assets, and having 18 months in cash to live off, if necessary, ensures they can ride out volatility rather than having to sell down. But it is also import
Business
Tanbreez: Greenland's new US$3bn rare earths deposit
Nasdaq-listed Critical Metals Corp (CRML) has just completed a preliminary feasibility assessment (PEA) of the Tanbreez rare earths (REE) project in southern Greenland and has priced the behemoth deposit at an eye-watering US$3 billion. Tanbreez is one of the largest REE finds on earth, with a 4.7 billion tonne mineralised kakortokite orebody and CRML currently holds a 42.5% interest in a joint venture with privately-held Tanbreez Mining. As per a binding agreement, CRML now needs to spend just another $10 million and it will gain an additional 50.5% equity interest, taking its ownership of the deposit up to 92.5%. Based on a preliminary $US3 billion valuation, it seems like a no-brainer - especially with United States President Donald Trump's keen interest in buying the island. Find out more: Trump and Greenland Part 2: The rush for rare earthsAustralian roots At the helm of the European-focused critical minerals explorer, ex-Perth Glory caretaker and ambitious resources speculator Tony Sage has put his chequered past with tax issues and other business operations behind him. Last year, he took his junior exploration company European Lithium (ASX : EUR) and its Wolfsburg lithium project in Austria across the pond, s

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Technology
TikTok running out of time to find a buyer
TikTok is running out of time as the 5 April United States ban deadline looms nearer. The app’s parent company, ByteDance is being ordered to sell TikTok by 5 April, after President Donald Trump extended the January deadline or face a ban in the U.S.. TikTok previously faced a temporary 14-hour ban on 18 January, affecting the 170 million Americans who used the platform for news, entertainment and even their livelihoods. Despite the ban date rapidly approaching, Trump remains confident. Many interested parties have raised their hands, and he has expressed a desire to facilitate the deal. “We have a lot of potential buyers, there’s tremendous interest in TikTok. The decision is going to be my decision,” Trump told reporters on Air Force One Sunday. “I’d like to see TikTok remain alive.” A meeting will be held with possible investors to hold a stake in TikTok involving key administration officials on the deal like Vice President JD Vance, Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard. Some potential buyers for the app include billionaire former Los Angeles owner Frank McCourt, Shark Tank investor Kavin O’Leary, a group including influ
Business
Eli Lilly sues pharmacies for sale of 'unapproved drugs'
Eli Lilly has sued two pharmacies for selling unapproved products containing tirzepatide, the main ingredient in its popular weight-loss and diabetes medicines. The new suits name Strive Pharmacy LLC and Empower Clinic Services LLC for selling unapproved drugs and making false claims about efficacy and safety. According to Lilly, Strive’s tirzepatide which comes in standard doses added with vitamin B12 or glycine is falsely suggested to be safer and more effective than FDA-approved medicines. Lilly said that Empower falsely suggested their efficacy by citing Lilly’s clinical studies for its compounded tirzepatide with a form of B3 added to it. Lilly will also send about 50 cease-and-desist letters to compounding and telehealth companies, asking to confirm that they have already ceased mass compounding. This comes months after Lilly sued medical spas for selling unapproved products containing tirzepatide. At the time of writing, Eli Lilly and Co's stock price (NYSE: LLY) was US$804.89, with a market cap of around $763.03 billion.
Lifestyle
Hooters files for bankruptcy, to sell restaurants
American restaurant chain Hooters of America has filed for bankruptcy in a bid to restructure its US$376 million (A$597 million) of debts and sell its 151 restaurants to a group led by its founders. Hooters said it filed voluntary petitions for chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas on Monday (Tuesday AEDT). “The company expects to move through this process swiftly, with the goal of emerging from chapter 11 in approximately 90-120 days,” Hooters said in a media release. The privately-owned company said it had agreed in principle for a group of franchisees including the unnamed founders to buy its company-owned locations, which are distinct from the 154 restaurants, mostly in the United States, operated by franchisees. Hooters said it had entered into a restructuring agreement with near unanimous support from its key stakeholders to sell the restaurants and ensure the continued operation of the business under new ownership. Hooters of America President and CEO Sal Melilli said the announcement marked an important milestone in efforts to reinforce Hooters’ financial foundation. “Our renowned Hooters restaurants are here to stay,” Melilli said in a release. Hoote
Politics
US Senator Booker holds 24-hour speech against Trump
United States Democratic Senator Cory Booker spoke on the Senate floor for more than 25 hours today in protest of President Donald Trump’s policies, breaking the Senate’s record for the longest individual speech. New Jersey Senator Booker began his speech at 7 pm on Monday, local time, and concluded at 8:05 pm the following day. Other Democratic senators, including Senate Minority Leader Chuck Schumer of New York and Mazie Hirono of Hawaii, supported Booker by asking questions, offering Booker a break in speaking without yielding the floor. “I rise with the intention of disrupting the normal business of the United States Senate for as long as I am physically able,” said Booker. “I rise tonight because I believe sincerely that our nation is in crisis.” In his speech, Booker urged Congress to hold Trump accountable for actions including sweeping cuts to the federal government, refusing to obey court orders, and the deportation of legal immigrants who have critiqued Trump. He has also read letters from New Jersey constituents outlining their opposition to Trump’s policies. He also criticised Elon Musk’s involvement with these government cuts through his Department of Government Efficiency organisation, and the Senate’s la
Business
Johnson & Johnson's bid to settle talc lawsuits rejected
United States bankruptcy judges have rejected Johnson & Johnson’s offer to settle thousands of lawsuits alleging that its talcum powder products cause ovarian cancer. More than 60,000 claimants have filed suits arguing that these talcum products included asbestos, which Johnson & Johnson has denied. The company’s proposed US$10 billion settlement would have ended these claims, as well as preventing any further suits. “The Company reiterates that none of the talc-related claims against it have merit and attempts to resolve this litigation were aimed at moving past this issue,” said Johnson & Johnson’s worldwide vice president of litigation Erik Haas. “The decision to litigate every filed case is based on the simple fact that this is a fake claim created by greedy plaintiff lawyers looking for another deep pocket to sue and fueled by litigation-financed attorney advertising,” Haas said. Johnson & Johnson subsidiary Red River Talc had sought approval for its Chapter 11 bankruptcy plan with Houston judge Christopher Lopez, with the companies offering to settle ovarian cancer-related claims on talcum products. Lopez ruled that Johnson & Johnson’s settlement plan did not have sufficient support from the claimants, and had