Anthony Albanese and Peter Dutton held the third debate of the election campaign last night with neither landing a knock-out blow. The debate was the most vigorous so far with a much improved performance by the Opposition Leader. The focus, again, was the cost-of-living crisis, particularly around health and energy costs.
Macquarie is selling out of its entire North American and European public asset management business, an operation that oversees $285 billion in assets. It’s a reversal of a strategy that’s been in place for 15 years, and Macquarie will offload its international equities, fixed income and multi-asset investments business to Japan’s Nomura for $2.8 billion.
Chinese ecommerce group Shein has recorded annual sales of more than $1 billion in Australia for the first time, as the rise in popularity of ultra-cheap clothing turns the Chinese fast-fashion giant into one of the country’s biggest retailers.
Chinese battery manufacturer, CATL, has unveiled upgraded battery cells for electric vehicles it claims can offer a 520km range from just five minutes of charging time.
The battle between Donald Trump and US financial markets has escalated after the US President called the boss of the Federal Reserve a “loser”. In a tweet after Jay Powell indicated interest rates in the US won’t fall at any time soon, in part because of the uncertainty around the White House tariffs, Trump claimed that there is almost no inflation and warned there could be a “SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW”.
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