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ASX LIVE: Shares to rise; Meta, Microsoft earnings top Wall Street estimates

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Shares set to rebound. Zuckerberg credits AI for earnings boost. Microsoft’s cloud business outperforms. Woolworths team prepares to front investors. Follow here for more

The board of Mineral Resources expects to hand down the conclusion of an investigation into the tax affairs of CEO Chris Ellison by Monday, next week. “The board intends to issue an announcement to the market regarding the conclusions it has reached and the actions it will take by November 4, 2024,” the company said.

Earlier this week, The Australian Financial Review confirmed the company had been investigating the tax evasion scheme devised by its billionaire managing director Chris Ellison for more than two years, but denied it needed to tell its investors because the board did not think it would affect the miner’s share price. Meanwhile, the miner has struck a $1.1 billion deal with Gina Rinehart’s Hancock Prospecting. Under the deal, MinRes will sell its exploration permits in the Perth Basin to Hancock.

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