In this week’s episode, James and Anthony ask what Rupert Murdoch’s retirement means for one of the biggest media empires on earth.AUD +0.6% to 64.53 US centsIn New York: BHP +2.4% Rio +0.9% Atlassian +3.7%Spot gold +0.4% to $US1926.66/oz at 12.34pm in New York10-year yield: US 4.43% Australia 4.34% Germany 2.74%agreed to pay a $US6 million fine for sending inaccurate or incomplete trading data to the Securities and Exchange Commission covering at least 163 million transactions over a decade.
The Stoxx 600 Index closed 0.3 per cent lower in London, taking this week’s declines to 1.9 per cent. Construction and utilities stocks were the biggest laggards, while technology and mining outperformed. The European Central Bank will have to wait until next year for key data that will help determine whether inflation is firmly headed back to the 2 per cent target, chief economist Philip Lane said.With many wage negotiations in the eurozone only taking place at the beginning of 2024, an important element for the ECB’s analysis will remain missing, Lane said in an interview with Yahoo Finance on Friday.
“In both cases, firms were more pessimistic than in 2022, with the move away from zero-COVID failing to provide the hoped-for boost to confidence.”Here’s Capital Economics expectations: “After falling into contractionary territory for four months, the average of the official and Caixin manufacturing PMIs jumped in August, returning above 50. We think the surveys will hold on to these gains and be little changed in September.