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Australia weighs break-up of Big Four accounting firms after scandals

By Christine Chen and Scott MurdochThe Australian government said on Wednesday it was considering breaking up the Big Four accounting firms and bringing them under the corporate regulator's purview following some high-profile scandals in the sector.The proposals, outlined in a paper from the Treasu…

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EconomyStocksAU
reuters

Spot gold may retest support at $3,940

Spot gold TVC:GOLD may retest support at $3,940 per ounce; a break below could trigger a decline to $3,901.The support caused a consolidation that took the shape of a wedge. Given that the pattern appeared after a downtrend, it may be a bearish continuation pattern, followed by a drop.Immediate res…

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Futures
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China's Xi urges ruling Communist Party to be adaptable, safeguard advances

Chinese President Xi Jinping said the ruling Communist Party must keep pace with changing circumstances while safeguarding its advances, in remarks made during celebrations for the party's 105th anniversary.The party must grasp China's national conditions and the themes of the times, Xi said in an…

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reuters

Rupee's RBI-defense line at risk as US yields rise, Asian peers weaken

By Nimesh VoraThe Indian rupee is likely to come under pressure at Wednesday’s open, weighed by higher U.S. Treasury yields, which have in turn weakened Asian currencies and dampened risk appetite.The rupee FX_IDC:USDINR is expected to open in the 94.70-94.75 range, per traders, after settling at…

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Forex
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India cuts price of LPG cylinder for industrial clients, local media reports

Indian oil marketing companies have cut the price of 19 kg ⁠commercial LPG cylinders ​for industrial ​clients by 183.5 rupees ($1.94), with no change in rates for household cylinders, local media reported on Wednesday.‌Indian Oil Corporation NSE:IOC, India's largest state-run refiner ​and fuel reta…

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Economy
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Global AI wave revs up Asian factories, offsetting war-induced pain

By Leika KiharaThe global AI boom powered Asia's manufacturing sector in June, with brisk demand for technology-related goods offsetting the drag from the Iran war, private surveys showed on Wednesday, offering some relief for the region's export-reliant economies.Price pressures, however, remained…

Reuters en
Economy
NEWS reuters

Australia weighs break-up of Big Four accounting firms after scandals

By Christine ChenThe Australian government said on Wednesday it was considering breaking up the Big Four accounting firms and bringing them under the corporate regulator's purview following some high-profile scandals in the sector.The proposals, outlined in a paper from the Treasury department, als…

Reuters en
EconomyStocksAU