Money News

Elon Musk recommits to Tesla; Twiggy Forrest warns on Chinese demand for iron ore;  electric vehicle conversions growing for business transport; PwC escapes scrutiny earlier than expected; mortgage holders playing the waiting game for rate cuts; Westpac likely to cut 1500 jobs; and Grady Wulff joins us for the Market Wrap   Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.

The Reserve Bank has lowered the cash rate, but some mortgage holders will be waiting up to a couple of weeks for the changes to take hold. Visit https://www.athena.com.au/?utm_medium=podcast&utm_source=money_news&utm_campaign=may25_rate_dropSee omnystudio.com/listener for privacy information.

Travel agency bookings for domestic flights have been softer, which could cause problems for Webjet. MARKET WRAP: ASX200: up 0.52%, 8386 GOLD: $3,292 US/ounce BITCOIN: $165,309 AUD Seek on track to hit the top half of guidance on its revenue and profit, sending shares up almost 7% to $23.69. Commbank up 1.5%, NAB up 1.2%, and ANZ up 0.3%.  Even after signalling 1500 job losses would be on the way, Westpac still rose 0.2% Woodside and Santos both up by more than 1%. WebJet was flat as it reported a net profit after tax of $5.1 million. Mayne Pharma dropping almost 30% to $4.55 as its $672 million takeover by US-based Cosette looked under threat. James Hardie lost 6.2% after saying the US renovations market was not as strong as it would like. Down more than 1% was Aristocrat Leisure, Computershare and Suncorp. CURRENCY UPDATE: AUD/USD: 64.4 US cents AUD/GBP: 48 pence AUD/EUR: 57 Euro cents AUD/JPY: 92 yen AUD/NZD: 1.08 Dollars See omnystudio.com/listener for privacy information.

The increase in demand for electric vehicles has extended to business transport, with Janus Electric relisting on the ASX today.See omnystudio.com/listener for privacy information.

Can Australia's huge success in iron ore continue, especially if China commits to green steel? Twiggy Forrest isn't so sure...See omnystudio.com/listener for privacy information.

The Reserve Bank cuts the cash rate by 25 basis points to 3.85%; the National Party leaves the Coalition; Technology One rides the tech boom; Victoria’s government debt to balloon to $194 billion; how to build a gelato empire; and Evan Lucas joins us for the Market Wrap   Host: Deborah Knight Executive Producer: Tom Storey Technical Producer: Liam Achurch Publisher: Nine RadioSee omnystudio.com/listener for privacy information.

Every small business dreams of making it big, so how has a gelato empire been built from just a single store?See omnystudio.com/listener for privacy information.

A credit rating downgrade of the US hurt the Australian share market, but how significant is it for investors? MARKET WRAP: ASX200: up 0.58%, 8343 GOLD: $3,229 US/ounce BITCOIN: $163,965 AUD Technology One, which posted a 33% increase in profit to $81.9 million, shares up 11.3% to $36.76. Wistech rising 2.7% and Life360 up 1.6%. Commbank again hitting fresh highs at $172.43. Wesfarmers, Goodman Group and Telstra all finished higher. Regis Resources down 1.1% to $4.55. Utilities stocks were lower again, with Origin, APA Group and AGL all down. Falling by more than 1% were Northern Star, Resmed and Fisher & Paykel Healthcare. CURRENCY UPDATE: AUD/USD: 64.2 AUD/GBP: 48 pence AUD/EUR: 57 Euro cents AUD/JPY: 93 yen AUD/NZD: 1.09 Dollars See omnystudio.com/listener for privacy information.

The Reserve Bank has cut the cash rate for the second time in three meetings, with mortgage holders breathing a sigh of relief.See omnystudio.com/listener for privacy information.

The Reserve Bank has cut the cash rate to 3.85% after both trimmed mean and headline inflation settled in the target band.See omnystudio.com/listener for privacy information.