ASX 200 thrives on Wednesday despite major companies suffering huge price drops
In the first 30 minutes of trading, Qantas shares crashed two per cent after informing the public the personal data of six million of its customers had been stolen in a cyberattack.
Domino's sank a whopping 16.7 per cent as its CEO Mark van Dyck will leave the pizza giant after just one year in the top job.
It follows the company in February revealing it would close down more than 200 stores overseas amid sales slumps.
Lenders mortgage insurance provider Helia is down a staggering 26.5 per cent after it told shareholders its long-term customer ING Bank was negotiating deals with other providers.
Despite the crashes, the index is up 0.4 per cent with construction materials company James Hardie rising 6.2 per cent and fund manager Perpetual Limited rising eight per cent.
Investors will also be eagerly watching the upcoming retail sales and building approvals data where a they can gain a better insight into the nation's economy.
Overseas, Tesla shares dived on Tuesday after Donald Trump threatened to withdraw electric vehicles subsidies and review Elon Musk's immigration status in the latest episode between the formerly allied billionaires.
"He's upset that he's losing his EV mandate and … he's very upset about things but he can lose a lot more than that," Trump told reporters at the White House on Tuesday.
The electric vehicle maker plunged more than five per cent in reaction to Trump's threats.
Wall Street was a mixed bag on Tuesday with the Dow Jones rising 0.9 per cent while S&P 500 sank 0.1 per cent and the Nasdaq shed 0.8 per cent.
London's FTSE 250 grew 0.5 per cent, Germany's DAX shed one per cent and the STOXX Europe 600 fell 0.2 per cent.
New Zealand's NZX 50 Index is up 0.4 per cent since trading began on Wednesday while Japan's has sunk one per cent.
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The Advertiser
2 hours ago
- The Advertiser
Trump says US will start TikTok deal talks with China
US President Donald Trump says he will start talking to China next week about a possible TikTok deal. He said the United States "pretty much" has a deal on the sale of the TikTok short-video app. "I think we're gonna start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal," Trump told reporters on Friday aboard Air Force One. In June, Trump extended to September 17 a deadline for China-based ByteDance to divest the US assets of TikTok. A deal had been in the works to spin off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump said the US would probably have to get a deal approved by China. When asked how confident he was that China would agree to a deal, he said, "I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China and it's good for us." US President Donald Trump says he will start talking to China next week about a possible TikTok deal. He said the United States "pretty much" has a deal on the sale of the TikTok short-video app. "I think we're gonna start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal," Trump told reporters on Friday aboard Air Force One. In June, Trump extended to September 17 a deadline for China-based ByteDance to divest the US assets of TikTok. A deal had been in the works to spin off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump said the US would probably have to get a deal approved by China. When asked how confident he was that China would agree to a deal, he said, "I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China and it's good for us." US President Donald Trump says he will start talking to China next week about a possible TikTok deal. He said the United States "pretty much" has a deal on the sale of the TikTok short-video app. "I think we're gonna start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal," Trump told reporters on Friday aboard Air Force One. In June, Trump extended to September 17 a deadline for China-based ByteDance to divest the US assets of TikTok. A deal had been in the works to spin off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump said the US would probably have to get a deal approved by China. When asked how confident he was that China would agree to a deal, he said, "I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China and it's good for us." US President Donald Trump says he will start talking to China next week about a possible TikTok deal. He said the United States "pretty much" has a deal on the sale of the TikTok short-video app. "I think we're gonna start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal," Trump told reporters on Friday aboard Air Force One. In June, Trump extended to September 17 a deadline for China-based ByteDance to divest the US assets of TikTok. A deal had been in the works to spin off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump said the US would probably have to get a deal approved by China. When asked how confident he was that China would agree to a deal, he said, "I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China and it's good for us."
The Advertiser
2 hours ago
- The Advertiser
Tariff letters to 12 countries going out Monday: Trump
US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes. US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes. US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes. US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes.
Perth Now
3 hours ago
- Perth Now
Tariff letters to 12 countries going out Monday: Trump
US President Donald Trump has signed letters to 12 countries outlining the various tariff levels they will face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday. Trump, speaking to reporters aboard Air Force One as he travelled to New Jersey, declined to name the countries involved, saying that would be made public on Monday. Trump had earlier on Thursday told reporters that he expected a first batch of letters to go out on Friday, a national holiday in the United States, though the date had shifted. In a global trade war that has upended financial markets and set off a scramble among policymakers to guard their economies, Trump in April announced a 10 per cent base tariff rate and additional amounts for most countries, some ranging as high as 50 per cent. However, all but the 10 per cent base rate were subsequently suspended for 90 days to allow more time for negotiations to secure deals. That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70 per cent - with most set to go into effect August 1. "I signed some letters and they'll go out on Monday, probably 12," Trump said, when asked about his plans on the tariff front. "Different amounts of money, different amounts of tariffs." Trump and his top aides initially said they would launch negotiations with scores of countries on tariff rates, but the US president has soured on that process after repeated setbacks with major trading partners, including Japan and the European Union. He touched on that briefly late on Friday, telling reporters: "The letters are better ... much easier to send a letter." He did not address his prediction that some broader trade agreements could be reached before the July 9 deadline. The shift in the White House's strategy reflects the challenges of completing trade agreements on everything from tariffs to non-tariff barriers such as bans on agricultural imports, and especially on an accelerated timeline. Most past trade agreements have taken years of negotiations to complete. The only trade agreements reached to date are with Britain, which reached a deal in May to keep a 10 per cent rate and won preferential treatment for some sectors including autos and aircraft engines, and with Vietnam, cutting tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Many US products would be allowed to enter Vietnam duty-free. A deal expected with India has failed to materialise, and EU diplomats on Friday said they have failed to achieve a breakthrough in trade negotiations with the Trump administration, and may now seek to extend the status quo to avoid tariff hikes.
