Australia Financial News

Investing.com — Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate hike from the Federal Reserve.

Investing.com — Most Asian stocks moved in a flat-to-low range on Wednesday before a widely expected interest rate hike by the Federal Reserve due later in the day, while Australian shares rallied on weaker-than-expected inflation data.

Shipbuilder Austal has warned it is in danger of sinking to a loss after a big blowout in costs associated with a US Navy contract.

Small business financier Finstro’s future is in doubt after its major backer, a US regional bank, pushed to oust its chief executive, Brad Prout, and demanded cost savings.

A director of beef giant AACo leaked board conversations about a devastating hit from the Queensland floods to Premier League club-owner and billionaire Joe Lewis, according to an insider trading lawsuit.

The big banks have been accused of taking too long to release customers wanting to switch home loans from their existing mortgage, with fresh data revealing average loan discharge times are twice as long as what the competition regulator considers appropriate.

By Saqib Iqbal Ahmed

Emerging star Mary Fowler has been ruled out of the Matildas’ Women’s World Cup clash against Nigeria with a concussion.

The review of PwC Australia’s operations by former Telstra chief executive Ziggy Switkowski will not examine the firm’s tax leaks scandal or past conduct at the firm, according to its previously secret terms of reference.

By Kevin Buckland

₹111 crore)) for acquiring user data through an app that claimed to safeguard privacy but failed to disclose its data collection activities. Also, the Federal Court of Australia has ruled that Meta, along with its subsidiaries Facebook Israel and the previously discontinued app Onavo, must also bear the legal costs of A$400,000 ( ₹2.2 crore) to be paid to the Australian Competition and Consumer Commission, the party responsible for initiating the civil lawsuit, Reuters reported. The Australian government led by Anthony Albanese has unveiled a series of planned amendments to the Privacy Act aimed at modernising the legislation in the digital era.

US Federal Reserve interest rate decision on Wednesday. The Fed is widely expected to raise its benchmark funds rate by 25 basis points (bps) to a target range of 5.25%-5.5%, its highest level since January 2001. Meanwhile, the International Monetary Fund (IMF) raised its 2023 global growth estimates but warned that persistent challenges were dampening the medium-term outlook.

Mineral Resources has failed to hit guidance on lithium exports from its West Australian mine owned in partnership with New York giant Albemarle.

French dairy juggernaut Lactalis’s Australian subsidiary has capped off ACCC’s allegations it breached the Dairy Code of Conduct with a miniscule fine, after a Federal Court judgement on Tuesday.

A 37-year-old letter penned by Lang Hancock could prove that his daughter, Gina Rinehart, has known for decades that a now-rival family has a claim to a share of lucrative mining tenements developed by her company in West Australia’s Pilbara.

Embattled fund manager Magellan has appointed former Janus Henderson co-chief executive Andrew Formica to the board as a non-executive director.

The month-long tournament commenced on Thursday, July 20, with the final scheduled for Sunday, August 20. The grand finale will take place at Stadium Australia in Sydney, a venue with an impressive capacity of 83,500 spectators, and known for hosting the Opening and Closing Ceremonies of the 2000 Olympic Games. The USWNT has the opportunity to make history by becoming the first team to win three consecutive Women's World Cups. They have been drawn into Group E, alongside formidable opponents such as the Netherlands, Portugal, and Vietnam. The team's group stage schedule includes matches against the Netherlands on Wednesday, July 26 (9:00 pm ET) and Portugal on Tuesday, August 1 (3:00 am ET). For soccer fans in the US eager to watch the action unfold live, the tournament will be broadcast on TV channels such as Telemundo, Universo, and Peacock, while live streaming will be available through Peacock. Fox holds the English-language media rights in the United States for the Women's World Cup. The United States started its bid for an unprecedented three-peat at the Women's World Cup with a 3-0 win over Vietnam. Winning a third straight title won't be easy for the No. 1 team in the world. Co-hosted by Australia and New Zealand, the quadrennial tournament for international soccer's most coveted trophy kicked off July 20 and features an expanded field of 32 teams, up from 24. There are 64 matches during the tournament. That means more competition for the two-time defending World Cup champion US, which won the 2015 event in Canada and the 2019 tournament in France.

NEW DELHI : The India-Australia interim free trade agreement (FTA), in place for six months, has led to a 15% narrowing of India’s trade deficit with Australia on increased exports of drugs, electrical machinery, and iron and steel articles, along with a significant decline in coal imports due to a milder Indian summer. India’s exports to Australia fell by over 32% in the five months to May compared to the year-ago period, while imports shrank by 25%, resulting in a narrowed trade gap of $3.87 billion, representing a 15% decline from the previous year, according to official data.

NEW DELHI : New Delhi is exploring the possibility of trilateral cooperation with France and Australia in the strategic Pacific Islands, according to persons aware of the matter. While France and Australia have been key players in the Pacific Islands for some time, India has stepped up its outreach to these small island countries over the last decade. The three countries launched their trilateral partnership forum in 2021, focused on the Indo-Pacific, with a focus on maritime development and connectivity.

Board of Control for Cricket (BCCI) on Tuesday announced senior men's team schedule for 16 International matches comprising 5 Tests, 3 ODIs, and 8 T20Is in the home season 2023-24. BCCI's Tours, Fixtures and Technical Committee comprising Amitabh Vijayvargiya, Jayendra Sahgal and Hari Narayan Pujari confirmed the venues allocated as per the BCCI venue rotation policy. The home season will commence with India hosting Australia for a three-match ODI series ahead of the marquee ICC Men's Cricket World Cup.

ALSO READ: Smriti Mandhana stands by Harmanpreet Kaur as ICC takes action against Indian skipper; watch what happened in Bangladesh Earlier, Harmanpreet smashed the stumps with her bat after being given out caught at slip by umpire Tanvir Ahmed on 22 July, while India was playing its third and final ODI against Bangladesh that ended in a tie. Apart from this, she also made a gesture in the direction of the crowd, and during the post-match ceremony, she called the standard of umpiring 'pathetic'.