Global markets are reacting to new US import and export rules, while Woolworths CEO Amanda Barswell mandates a return to the office for 10,000 support staff. The news also highlights the struggles of Retail Food Group (RFG) amid scandals and the pursuit of stronger governance at massive super fund Cbus Super.
There is tariff turmoil as new rules for imports and exports with the US shakes up markets globally.Watch the day unfold on the markets blog.Retailer Woolworths is at the frontline of what's going to be one of the big industrial flashpoints this year: the collision of remote work , equality, hybrid working, productivity and modern life.
There's a few months to sort it out, but by June 'WFH-forever' is dead, with people needing to be in a day a week. But when you see a share price that's gone from more than $300 to $2 in less than a decade, you can start to see the impact of decisions and attitudes that treat parts of the business chain — in this case, franchisees — poorly.One of Australia's top three biggest companies — and the only one that doesn't dig rocks or sell mortgages — has revealed a big jump in profit.Revenue was up +5% to $US8.5 billion.
"Cbus has a strong track record of acting in members’ best financial interests over its 40-year history. There are lots of reasons for this - competition, price cycles - but it is a consistently eye-opening graph.The latest data from the Australian Institute of Petroleum has the average retail price of aThis is slightly above the week before but below the 12-month average .Yesterday was the first day of six weeks of expected hearings as regulator ASIC trawls former executives and directors over allegations they breached their duties.
"The Albanese Government governs for the whole country and we take our responsibilities to the regions seriously. Government asking the banking sector to "increase its commitment to and investment in regional banking".Macquarie and HSBC will start negotiations with Australia Post on Bank@Post services
Mr Albanese says he made Australia's position clear to Mr Trump during their phone-call, and an exemption is "under consideration". It's hard to say what has driven the latest acceleration, but one theory is that key coffee-growing countries could be a target for US tariffs.If tariffs on crude oil which could push up gasoline prices are not off limits, why would caffeine be given a carve-out?— or in economist speak "demand destruction".
Best to savour that cup in your hands right now … it's likely to be cold by the time supply and stocks recover.Money markets have priced in a 95% likelihood of a 25 basis point rate cut, which wouldAs we've noted, these are expectations - but expectations don't get a seat at the Reserve Bank board room table, so we'll find out at 2.30PM AEDT on Tuesday 18th.The Wall Street Journal reported that a consortium led by Elon Musk had lobbed a $155 billion bid to buy out the entity.
The bid is being backed by Musk's AI company xAI, which could merge with OpenAI following a deal, the WSJ reported.He founded the competing AI startup xAI in 2023., which it says is required to secure the capital needed for developing the best artificial intelligence models.
TARIFFS MARKETS REMOTE WORK CORPORATE GOVERNANCE SUPER FUNDS
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