News

Election day in Western Australia was marred by issues including ballot shortages, long wait times, and voters being turned away. The Nationals leader has called for investigations into the outsourcing of election staffing and donations made by a key company involved, while the WA Electoral Commission defends its decision to use the company.

The Australian share market is nearing a "technical correction," a 10% or more drop from its all-time high, driven by factors like the corporate reporting season, China's AI threat, and US economic concerns. While experts advise long-term investors to stay calm and maintain a diversified portfolio, short-term volatility is likely to continue.

US casino giant Bally's has offered a financial lifeline to cash-strapped Star Entertainment, proposing a controlling stake in exchange for at least $250 million and operational turnaround assistance. Star has yet to engage with Bally's, currently focusing on bridging financing and loan arrangements with Salter Brothers Capital.

Tesla's share price has plummeted due to a combination of factors, including CEO Elon Musk's controversial political views, increased competition from Chinese and European rivals, and declining sales in key markets like China and Europe. The company's future success will depend on its ability to adapt to the changing market, manage its costs, and maintain a positive brand image.

US President Donald Trump has doubled tariffs on steel and aluminum imports from Canada, escalating the trade war between the two countries. This move comes in response to Ontario's threat to suspend electricity exports to three US states, prompting Trump to declare a national electricity emergency.