Flying cars worth $3m on sale by 2030
The eight-year-old start-up has appointed former Zoox executive Adriano Di Pietro as chief executive and is preparing to go to market for additional funding in a capital raise led by Allunga advisory. Zoox is an autonomous vehicle business in Silicon Valley which was bought by Amazon for $US1.3 billion ($2 billion) in 2020.
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Perth Now
33 minutes ago
- Perth Now
ASX slips on latest Trump tariff
Cautious investors sold down the local market as Aussie investors digested the latest tariffs announcement from US President Donald Trump. The ASX200 closed slightly down on Monday, losing 9.70 points or 0.11 per cent to 8,570.40, as the seesawing market swung between gains and losses throughout the day's trading. The broader All Ordinaries also finished in the red, losing 5 points or 0.06 per cent to finish Monday's trading at 8,815.30. The Australian dollar retreated slightly from an eight-month high and is currently buying 65.61 US cents. On a mixed day, only four of the 11 sectors finished higher, led by the energy stocks and major miners. Shares in BHP finished up 0.94 per cent to $39.73, while Rio Tinto gained 0.58 per cent to $111.74. US President Donald Trump tariff policy is starting to come into effect. Carlos Barria / NewsWire POOL Credit: NewsWire Fortescue Metals bucked the trend and fell 0.47 per cent to $16.90. It was also a mixed day for the big four banks. CBA shares slipped 0.39 per cent to $178.72, Westpac dropped 0.74 per cent to $33.56 and ANZ slumped 0.82 per cent to $30.08. NAB was the outlier, eking out a small gain, up 0.13 per cent to $39.66. Monday's trading came after President Trump over the weekend confirmed a 30 per cent tariff on goods from the European Union and Mexico which will start from August 1. IG market analyst Tony Sycamore said this was an extension of the letters sent on July 9. 'The 'take it or leave it' tariff rates on these 12 countries will be effective from August 1, 2025,' Mr Sycamore said. 'While we can only guess which countries will receive a letter, it has been confirmed that Canada has been explicitly excluded from the list due to its USMCA protections, relatively low tariffs on US goods, and strategic importance as a North American partner.' Gold miners rose as investors jumped into safe haven assets. NewsWire / Max Mason-Hubers Credit: News Corp Australia Safe havens – including gold and Bitcoin – jumped on the news. Northern Star Resources jumped 1.72 per cent to $16.53, Evolution Mining gained 1.88 per cent to $7.58 and Newmont Corporation finished 1.66 per cent higher to $92.01. Bitcoin has surged past $US120,000 ($182,000) for the first time, marking yet another record in what's shaping up to be a monumental rise. eToro market analyst Josh Gilbert said the price jumped on the back of governments continuing with big spending budgets. 'Central banks keep running expansive monetary policies and global money supply keeps rising,' Mr Gilbert said. 'In that environment, an asset with fixed, decentralised supply cements itself as an alternative store of value.' In company news, DroneShield continues its march higher over recent weeks after telling the ASX it will spend $13m in R&D and manufacturing to expand its Sydney based operations. The company says the money will triple the size of the current Sydney based facility as it looks to expand its manufacturing capacity to $2.6bn by the end of 2026. The expansion follows a $61.6m contact announcement back in June, its biggest ever order. Shares jumped 16.97 per cent to $3.24 on the announcement. Specialty fashion group City Chic shares slipped 1.16 per cent to $0.085 after the business issued an unaudited trading update to 29 June 2025 showing earnings before interest depreciation and amortisation will come in at between $6 to $6.5m, following a financial year 2024 loss of $8.4m.
SBS Australia
an hour ago
- SBS Australia
Evening News Bulletin 14 July 2025
Listen to Australian and world news, and follow trending topics with SBS News Podcasts . Anthony Albanese insists he's unafraid to raise difficult subjects with China on his trip there. Sussan Ley says core conservative values will guide the Opposition's new policy platform Chelsea's Cole Palmer with a superstar display in the Club World Cup final Prime Minister Anthony Albanese says he won't be afraid to advocate for detained Australian writer Yang Henjun whilst in China. Mr Yang has been detained in China since 2019, and has been sentenced to death, with a two-year reprieve, after an opaque trial on espionage charges. Mr Albanese will meet Chinese President Xi Jinping tomorrow He says his record for advocating for Australians detained overseas in second to none. " Whether it be here in China, Indonesia, Vietnam, Myanmar, the United States, and the United Kingdom... we have been successful advocating for Australians. And we will always do that." Businessman Andrew Forrest says the debate about Australia's security relationship with China isn't stopping those trying to further Australia's business relationship with China. The non-executive chairman of mining company Fortescue Metals is amongst the business leaders accompanying Prime Minister Anthony Albanese on his present trip to China. He says they've met with Chinese steelmakers, raising concerns about dumping. Mr Forrest says businesses won't be distracted by big issues like Chinese military forces performing several controversial actions towards Australian personnel, or Australia being in the middle of tensions between the US and China on issues like Taiwan. "Security becomes a distraction. But for us, we are head down, tail up, stressing that bilateral relationship in the best interests of Australian employment, and every Australian." Sussan Ley is promising the federal opposition's policy platform will be rebuilt on the traditionally-espoused values of Australia's conservative parties. Continuing her visit to Western Australia, the Opposition Leader says she's listening to community concerns after the Liberal Party's poor showing in May's federal election. "We will listen. We will stand by our values. So, as we develop policy, it will be through the prism of those values- lower, simpler, fairer taxes, and less regulation." Ms Ley is flagging energy prices and red tape in the building industry as two areas the opposition wants to focus on. But when, further pressed on the matter, she has declined to name any specific regulations in Western Australia that are holding up development. The Defence Force says its current military exercises are showing off the nation's improved long-range defence capabilities. More than 30,000 personnel from 19 nations, including the United States, are participating in the war-fighting exercises in New South Wales and Queensland, which include live-fire drills, air combat, and maritime operations. It's the first one of these exercises since Australia received the High Mobility Artillery Rocket System, known as HIMARS. Army Brigadier Nick Wilson says HIMARS vastly expands what Australian forces are capable of. "It gives us both a land and maritime strike capability at increased long range, We've gone from an army, most recently, with an indirect fire flange of 20-plus kilometres, to one in excess of 400 kilometres." New questions about sexuality and gender will be part of a trial run of the national census involving more than 60,000 homes ahead of the main event. The first census questions on sexual orientation and gender will be sent to around 60,000 households chosen by the Australian Bureau of Statistics, part of a practice version of the census to try and make sure the actual census, which will be held on the next year, goes off without a hitch. Next year's census will be first to include questions about sexual orientation and gender for people aged 16 and over. Questions about sexuality were set to be scrapped from the questionnaire, but the federal government backtracked on the decision in 2024 following criticism from LGBTQI groups. In football, Chelsea coach Enzo Maresca says midfielder Cole Palmer continues to build his legacy at the club with his star turn in the Club World Cup final. Palmer scored Chelsea's first two goals, and set up their third, in their three-nil win over Paris Saint Germain in the final in the United States. Maresca says Palmer is a player who's at his in the most important matches. "Yeah, these are the games where we expect Cole to appear, because they are big games, big moments, and, once again, he's shown how good he is." PSG coach Luis Enrique has apologised for his role in a scuffle at the final whistle. He says he was trying to break up an altercation between players.
AU Financial Review
an hour ago
- AU Financial Review
Insolvencies surge in construction and hospitality sectors
Australian construction-industry insolvencies surged nearly 21 per cent last financial year to a new high, reflecting what the corporate regulator said was a greater use of insolvency appointments by small businesses restructuring debts in a way that would let them keep trading. Figures published by the Australian Securities and Investments Commission on Monday showed economy-wide insolvency appointments for the year to June revealed a jump in construction-industry insolvencies – the single largest sector – from 2977 in FY24 to 3595, while total insolvencies rose 33 per cent to 14,716.
