Meanwhile, embattled consultancy firm PwC is making more than 300 roles redundant. In the US, inflation data raises more questions about the timing of future cuts to interest rates in the world's largest economy. See how the day unfolded on our live blog.
Here in Australia, Bendigo Bank has put out a forecast for rate cuts, summarising that the most likely scenario is no cuts until early 2025, with an early September drop possible.
"That’s now a Ponzi scheme whose maintenance will result in a country marred by minimal investment, low productivity, debilitating inequality, high inflation and low wages pushing its talented people into a low innovation sinkhole."for Australia by the end of this year.But the chief economist at one of Australia's smaller mainstream banks isn't so sure.it's more likely the RBA will wait until early 2025."While the latest Monthly Indicator showed CPI down to 3.
The price of lithium, which is a major component in the batteries inside EVs and solar batteries, has been dropping as more miners start production and uptake of batteries isn't as high as forecast.company's director Andrea Hall is also resigning, effectively immediately.
Vivek Dhar is one of the nation's top analysts of the commodities market and in a note today from CommBank he reports the falling profitability of Chinese steel mills — and what this means for prices for the raw material we so profitably dig up and send over.
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