Black Friday: News

Markets, Cryptos and Culture

Sydney, Australia to Wall Street, New York

February 13, 2026

Black Cat Edition
Black-ish Friday

"Paint It Black" (The Rolling Stones)
"Black & Gold" (Sam Sparro)
"Black Night" (Deep Purple)

ASX 200 futures down 56 points/0.6%: 8917
AUD -0.5% to US70.93¢
BTC $66,024.85 -2.20%
Dow -0.9%
S&P -1%
NAS -1.5%
VIX +2.12 to 19.77
Gold -2.7% to $US4949.68 an oz
Silver 76.593 -7.615
Oil -3% to $US67.35 a b
Iron ore -0.6% to $US99.40 a ton
10-yr yield: US 4.10% AUST 4.80%

News

Feb 13

Number Double Check

Australian Dollar: $0.7096 USD (down $0.0034 USD)
Iron Ore: $99.40 USD (down $0.75 USD)
Oil Price: $62.93 USD (down $2.01 USD)
Gold Price: $4,941.98 USD (down $138.24 USD)
Copper Price: $5.7905 USD (down $0.1775 USD)
Dow Jones: 49,727.01 (down 394.39 points)

News

ANZ soars 8pc, tech stocks extend losses

The Australian sharemarket posted a solid gain on Thursday, after reaching a new record intra-day high; the S&P/ASX 200 added 0.3 per cent to close at 9,043.5 points. The ANZ was up 8.5 per cent at a new peak of $40.35, Northern Star Resources advanced four per cent to $29.39 and Origin Energy finished 3.9 per cent higher at $11.50. However, AMP shed 26.7 per cent to end the session at $1.28, Temple & Webster fell 32.6 per cent to $7.64 and Pro Medicus was down 23.9 per cent at $129. (RMS)

News

Miners

Northern Star pushes back gold mine build

Northern Star Resources' CEO Stuart Tonkin has advised that a final investment decision on the Hemi gold project in the Pilbara is now slated to be made by June 2027. He indicated that the mine is likely to take about 2.5 years to build, which will push back initial production to at least 2030. Hemi is among the assets that Northern Star acquired in 2025 via the takeover of De Grey Mining, which had flagged initial production as early as 2027. Meanwhile, Northern Star has posted a 2025-26 interim net profit of $760m, which is 41 per cent higher than previously and was boosted by the record gold price. (RMS)

Markets, Cryptos and Culture

Sydney, Australia to Wall Street, New York

February 7, 2026

Black Friday In The USA Sees Some Light Arrive; Crypto True Believers Rejoince And Regain Some Lost Ground

Australians See Yanks Regain Some Smiles

"All That Glitters"

Sorting Pure Gold From Fools Gold?!

Who Is Putting The Crypto And Market Strings?

Roller Coaster Ride Continues Into The Weekend ...

"All That Glitters" Edition: Part 6

"Gold" (Spandau Ballet)

"You Got the Silver" (The Rolling Stones)

"Goldfinger" (Shirley Bassey)

"Mercy, Mercy, Mercy" (The Wolf Of Wall Street theme) Cannonball Adderley

"Stretch Your Face" (TOBACCO). Silicon Valley theme

"Diamonds" (Rihanna)

"Falling Down" (1993). (James Newton Howard)

"Every 1's a Winner" (Hot Chocolate)

"Still Humble" (def rebel)

"Clubbed to Death". (The Matrix theme). Kurayamino Mix. (Rob D)

"Bulls on Parade" (Rage Against the Machine)

Markets

ASX 200 futures up 102 points/1.2% to 8749
AUD +1.4% to US70.21¢
BTC $71,212.23 +11.54%
Wall St:
Dow +2.5%
S&P +2%
NAS +2.2%
VIX -4.01 to 17.76
Gold +3.9% to $US4963.65 an ounce
Silver 77.978 +7.14 +10.08%
Oil +0.6% to $US67.93 a barrel
Iron ore -1.6% to $US99.00 a ton

News

Crypto: too early to be greedy

Market Overview

The crypto market cap has lost more than 8% in the last 24 hours to $2.22T, dropping to $2.09T at its lowest point. The Crypto fell below last April's lows and rolled back to levels last seen in September 2024. The market did not hold on to the strong line that had served as support and resistance for more than two years. Either this is a switch to panic mode, or we saw a short-term overreaction during a period of reduced liquidity, and cryptocurrencies will partially rebound in the coming days.

The sentiment index fell to 9, where it was last seen in June 2022. In general, reaching single-digit levels is a very rare occurrence. At the same time, we warn again that such oversold conditions may be followed by months of consolidation or bottoming out. Thus, in 2022, the market only bottomed out in November, falling by about a quarter, and the momentum for growth only appeared in January.

Bitcoin, at its lowest point at the start of trading on Friday, fell to $60K, ending up just one step away from its 200-week moving average, which is just below $58K. Bitcoin only fell below this line in 2022 and the following year, 2023. Before that, in 2015, 2019, and 2020, touching this line effectively stopped the sell-off, attracting buyers.

News Background

The collapse of the crypto market reflects a decline in interest in digital assets at the institutional and regulatory levels, according to Deutsche Bank. Three factors are putting pressure on Bitcoin: a steady outflow of institutional investor funds, changes in traditional Bitcoin market relationships, and the loss of regulatory momentum that previously supported liquidity and reduced volatility.

The collapse of Bitcoin was caused by the actions of large market participants, not panic among private investors, said technical analyst Peter Brandt. In his opinion, the nature of the movement, when BTC updated its lows for eight days in a row, has all the signs of a “planned sell-off.”

Tension was heightened by unconfirmed rumours of a $9 billion sale of bitcoins by a Galaxy Digital client.

Stifel admits that bitcoin could collapse to $38K due to the high correlation of cryptocurrencies with the falling US tech sector.

According to DeFiLlama, the net inflow of funds to Binance over the past 24 hours amounted to almost $700 million. The data refuted rumours circulating on social media about mass withdrawals and account closures after Binance reported technical problems with withdrawals on February 3rd.

According to Bloomberg, there is still disagreement in the US over the Clarity Act. The current version of the document prohibits the accrual of interest for staking. Crypto companies are making new concessions to US banks, but the parties have not yet reached an agreement. (FxPro)

News

Gold News

Gold tries to prove that the bull trend is not yet broken After the most significant sell-off since 1980, gold is attempting to stabilise. Bears argue that the bubble has burst and events will unfold as they did in 2011. Back then, after falling from record highs, the precious metal entered a multi-year downtrend. Bank of America notes that volatility remains elevated. This allows us to talk about gold as a speculative asset and reduces central banks' demand for bullion. This is especially true given some recovery of confidence in the US dollar.

Bulls argue that the fundamentals of the gold market remain intact. US government debt is growing rapidly, which devalues Treasuries and the greenback. Political and geopolitical risks remain high. The Fed will resume its cycle of policy easing. Also, precious metals do not seem expensive at these levels. The Dow Jones index exceeded its value by 1.3 times in 1980, and during the dot-com crisis, its ratio soared above 40. Currently, it is just over 10.

Events at the end of last week unfolded too quickly. By the close of last week, the collapse had reached historic proportions, leaving scars on the market at the start of February. Formally, we see the week closing in positive territory and an impressive rebound of $550 from Monday's lows. It is also worth mentioning that the price reached these levels for the first time just two weeks ago. Nevertheless, we remain in the bear camp, assuming that the three-year bull market has already been broken. We may see attempts to grow and even break through $5000, but we expect that too many will sell gold at these levels/ (FxPro)

News

UK/Europe News

The Bank of England sank the pound

Markets now pricing the BoE will cut its rate in March.

Neither slowing inflation nor the strength of the euro scared the ECB.

While the ECB decided to support its currency, the Bank of England deliberately sank the pound. Both regulators left rates unchanged, but this is a dovish pause. Four out of nine MPC members voted to cut the repo rate from 3.75% to 3.5%, while markets had expected only two.

Andrew Bailey noted that there is an even chance of the next rate cut next month, as inflation is sure to fall significantly. As a result, the futures market raised the probability of such an outcome from 20% to 60%, pressuring GBPUSD.

The ECB showed much more mercy to the euro. On the eve of the Governing Council meeting, investors were concerned that the slowdown in inflation in the eurozone to 1.7% in January and the 13% strengthening of the euro against the USD over the past year would provoke ‘dovish’ rhetoric from Christine Lagarde.

But eventually, she noted that the ECB would not make decisions based on a single data point and that the strengthening of the euro was already factored into its forecasts. EURUSD bulls breathed a sigh of relief. They were helped by disappointing data on the US economy. In 2025, it created 1 million fewer jobs than in 2024.

According to Challenger, layoffs are occurring at the fastest pace since the global economic crisis of 2008-2009. ADP is signalling a slowdown in employment, and unemployment claims are exceeding forecasts. The Fed has already cut rates three times pre-emptively in response to signs of a cooling jobs market. If the negative trends continue, the monetary easing will resume earlier than expected. After a series of disappointing reports, derivatives have raised the odds of an April rate cut to 40%. If the BLS employment statistics bring an unpleasant surprise, they could rise to 50%, which is bearish for the US dollar.

It is hard to say how the greenback will react to the armed conflict in the Middle East. The erosion of confidence in it due to Donald Trump's policies has led to the loss of its status as the main safe-haven asset. Gold has taken its place. However, the January-February sell-off of the precious metal and rumours of a burst bubble could change everything. Will the US dollar regain its former glory? (FxPro)

News

The Lead Up

24 Hours Ago

ASX snaps two-day winning run as silver tumbles

The Australian sharemarket snapped a two-day winning streak on Thursday, with the S&P/ASX 200 closing down 38.60 points to 8889.20, while the price of silver tumbled by 15 per cent. Silver miner South32 declined 4 per cent to $4.60, while BHP fell 3.9 per cent to $50.36. Gold miner Genesis Materials declined by six per cent to $6.87 and uranium miner Paladin Energy slumped nine per cent to $12.36, while stocks to rise included the Commonwealth Bank, which rose 1.4 per cent to $159.28, and Regal Partners, up 5.1 per cent to $3.07. (RMS)

News Lead Up

ASX rises as miners rally; Yancoal soars 9pc

The Australian sharemarket posted a strong gain on Wednesday, with the S&P/ASX 200 adding 0.8 per cent to close at 8,927.8 points. BHP rose 4.5 per cent to $52.40, Northern Star Resources was up 6.2 per cent at $28.55 and Woodside Energy advanced 3.1 per cent to $25.84. However, Origin Energy was down 3.6 per cent at $11.12 and Synlait Milk shed 13.5 per cent to end the session at $0.45.

News Lead Up

24 Hours + Ago

Miners

Glencore soothes Rio concerns with US deal

Glencore has secured a preliminary, non-binding agreement to sell a 40 per cent stake in its Mutanda and Kamoto copper mines in the Democratic Republic of Congo. The deal was struck just days before the expiry of a deadline for Rio Tinto and Glencore to finalise their proposed merger or extend the negotiations. The consortium that will buy a minority stake in the two copper mines is headed by Orion Resource Partners, in which the US government has a stake. Rio Tinto has concerns about the two mines' links to Israeli businessman Dan Gertler, who was sanctioned by the US government in late 2017.

News

NYSE

The New York Stock Exchange (NYSE) saw mixed performance during the latest trading session on February 4, 2026. While the Dow Jones Industrial Average gained 0.52% to close at 49,501.30, the broader NYSE Composite Index edged up just 0.41% to finish at 22,975.59. In contrast, tech-heavy indices like the Nasdaq and S&P 500 faced pressure, sliding 1.5% and 0.5% respectively as investors rotated out of major software and semiconductor names.

Recent Market Trends (February 2026)

Rotation out of Tech: Investors are increasingly moving capital from high-valuation AI and software companies into "real economy" Dow components.

Active IPO Market: Veradermics Inc (MANE) made a massive debut on the NYSE on February 5, 2026, with shares soaring 118% from their $17.00 IPO price.

Semiconductor Consolidation: Texas Instruments announced the acquisition of Silicon Laboratories for $7.5 billion, causing SLAB shares to surge nearly 50%.

Healthcare Volatility: Eli Lilly shares jumped 10% after strong Q4 results, helping the company reclaim a $1 trillion market cap, even as other healthcare firms like Novo Nordisk slumped on cautious outlooks.

Market Outlook and Valuations

As of early February 2026, major Wall Street analysts remain generally optimistic for the year, projecting total returns for the S&P 500 of approximately 6% to 11% by year-end.

Current valuations suggest that the U.S. equity market is trading at roughly a 5% discount to fair value estimates, with small-cap and late-cycle technology stocks identified as especially attractive. However, experts warn that elevated volatility is likely to persist due to shifting government policies and potential risks in the AI sector.

News Lead Up

24 Hours Ago +

Crypto market updates local lows

Market Overview

The crypto market cap fell 2.2% to $2.59 trillion, briefly touching $2.49 trillion, and is continuing its descent to last April's lows. Solana was hit particularly hard by the sell-off among the top coins, losing 6.8% compared to 2.9% for Bitcoin and 1.6% for Ethereum. Tron outperformed the market, gaining 1% on the day and losing only 2.3% over 7 days and 2.8% over 30 days, compared to a 14.5% and 18.1% decline in total cap, respectively.

Bitcoin broke through its 2025 lows on Tuesday and briefly fell below $73,000, back to its early November 2024 lows. Although there has been some rebound since the start of Wednesday, the sequence of lower local highs and lows indicates that selling on the rise prevails in the markets. Bulls, for their part, may point to oversold conditions on the RSI and divergence, where a lower local price low corresponds to a higher local low on the relative strength index. There were two such instances in 2024 and 2025, followed by gains of more than 20% and 60%, respectively. However, during the 2020 bear market, such signals did not work. News Background

Demand in the BTC spot market is drying up, with additional pressure from stablecoin outflows from trading platforms. Uncertainty surrounding the Fed's policy and the possible appointment of Kevin Warsh threaten to strengthen the dollar. This has a negative impact on risky assets, according to Arctic Digital.

There are no catalysts for growth in the crypto market, and selling pressure remains. In such conditions, Bitcoin risks falling to $56,000-58,000, according to Galaxy Digital.

The current crypto winter is closer to its end than its beginning, according to Bitwise. The crypto market is nearing the end of its decline phase, according to Compass Point. The base scenario assumes that BTC will bottom out in the $60,000-68,000 range.

According to a JPMorgan survey, asset managers from 30 countries around the world are betting on artificial intelligence, leaving cryptocurrencies out of the picture. Only 17% of respondents consider digital assets to be a key topic.

The German division of ING Bank has opened access to exchange-traded notes (ETNs) focused on cryptocurrencies to retail clients. The instruments allow investors to invest in Bitcoin, Ethereum and Solana through the familiar banking interface. (FxPro)

News

Gold

Gold inflates a new bubble

The US dollar may suffer because of Kevin Warsh

Gold volatility remains elevated

The drop of US stock indices amid new developments in artificial intelligence has caused the US dollar to retreat. Software stocks have been hit hardest by Anthropic's innovations. The US market no longer looks as exceptional as it once did, with investors tending to diversify their portfolios and sell off American stocks. Coupled with a reassessment of Kevin Warsh's views as Fed chairman, this brings back interest in buying EURUSD. The futures market gives a 59% probability of a federal funds rate cut in June and expects two acts of monetary expansion before the end of the year. MUFG Bank notes that Kevin Warsh is respected by the markets. Donald Trump's choice in his favour has eased concerns about the Fed losing its independence and boosted confidence in the US dollar. However, the former FOMC official intends to cut rates. Rumours are growing on Forex that they will fall by 100-125 basis points. The Fed is not a one-man show. It will require a change in the economic outlook of the majority of the Open Market Committee, and this process is already underway. According to Richmond Fed President Thomas Barkin, companies are not raising prices due to customer resistance. They are absorbing the tariffs. This is good news for inflation. The US economy is growing thanks to the artificial intelligence ecosystem and serving wealthy customers. The retreat of the US dollar has strengthened investors' desire to buy gold after the slump. Political and geopolitical tensions remain high, fuelling interest in gold as a safe-haven asset. In percentage terms, the precious metal recorded its largest daily gain since March 2009. At that time, investors were actively buying it due to the global economic crisis. However, Bank of America warns that there was no decline in volatility after gold collapsed on Black Friday, 30 January. The indicator continues to remain at high levels, increasing the risks of a new bubble forming. As the parliamentary elections approach, hedge funds are increasing their sales of the yen. If the Liberal Democratic Party strengthens its position in the lower house, interest in ‘Takaichi trade’ will return, inspiring USDJPY bulls. (FxPro)

News

The Lead Up

24 + Hours Ago ...

Cryptos

Very limited rebound in crypto

Market Overview

The crypto market capitalisation grew by 1.7% in 24 hours to $2.65 trillion. Once again, the positive sentiment in global financial markets came to the rescue of crypto. BNB is leading the rebound, benefiting from the support of the founder of Binance and Doge, which was mentioned again by Musk. At the same time, local resistance has formed in the market at $2.65-2.68 trillion, where the rebound has been losing momentum since the beginning of the month.

Bitcoin is trading above $78K, about 5% higher than Monday's lows, but hitting resistance from 1 February. This limited rebound is causing bearish sentiment about the immediate prospects for Bitcoin and the whole crypto market. News Background

According to CoinShares, global investment in crypto funds fell by $1.696 billion last week, following an outflow of $1.732 billion the week before. Investments in Bitcoin fell by $1.321 billion, in Ethereum by $308 million, in XRP by $44 million, in Solana by $32 million, and in multi-asset funds by $14 million.

The options market indicates that investors are beginning to form positions in anticipation of a local bottom. Long-term Bitcoin investors have moved into unrealised losses, which allows the market to transition into an ‘extremely bearish’ phase, according to CryptoQuant. The market has also been negatively affected by a persistent lack of liquidity for several months.

Bernstein expects the crypto market decline to end when Bitcoin reaches the highs of the previous cycle in the $60,000 range. The subsequent reversal will lay the foundation for the ‘most significant cycle’ for BTC.

Meanwhile, Bloomberg Intelligence strategist Mike McGlone reiterated his forecast for the current year, according to which Bitcoin could fall to $10,000. In his opinion, the current year may resemble the crisis years of 2008 and 2000-2001.

Corporate Ethereum holders suffered a major loss after the asset's value fell. According to BitMineTracker, the ‘paper’ losses of BitMine, the largest holder of the second-largest cryptocurrency, amounted to $6.95 billion. Investor Ross Gerber called this ETH purchase potentially ‘the worst deal in history.’

Hong Kong-based Trend Research has already begun to reduce its positions, selling 33,589 ETH ($79 million) at a loss. Japanese financial holding company Nomura is also reducing its investments in cryptocurrencies. However, Strategy continues to buy, acquiring another 855 BTC ($75.3 million) over the past week at an average price of $87,974. (FxPro)

News

Best Quotes Of The Day

Media Man

Cryptocurrency, Finance and World

"Volatility is Satoshi’s gift to the faithful." - Michael Saylor

"Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme." — Naval Ravikant

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error." — Tyler Winklevoss

"You can't stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust." — John McAfee

"Bitcoin is the most important invention in the history of the world since the Internet." — Roger Ver

"Cryptocurrency is such a powerful concept that it can almost overturn governments." — Charles Lee

"In the future, national currencies will become obsolete. Bitcoin will become the single global currency." — Jack Dorsey

"The future of finance is crypto, whether it’s in payments, contracts, or savings." — Changpeng Zhao

"Crypto offers freedom to the unbanked and hope to the underprivileged." — Elizabeth Stark

"The new frontier of innovation is in decentralization. Blockchain leads the charge." — Don Tapscott

"Digital currency is here to stay, and it’s only a matter of how long before governments embrace it." — Brad Garlinghouse

Pop Culture

Dream Matches: Fantasy Booking

The Million Dollar Man vs IRS

Money INC vs Right To Censor

Santa vs Grinch

Bulls vs Bears

Crypto King vs Mr World Bank

Citizens vs NWO

Neo vs Agent Smith

John McAfee vs You Know Who!

TKO vs Naysayers

Jake Paul, Polymarket and BETR vs Naysayers
Pro Boxing vs Newspaper Reports
VKM vs The World
Paul Bros vs Mainstream Wokes
Mr X vs Mr Bluesky
Chris Jericho vs Dirtsheets
NFL vs everyone
Zuffa vs MVP
Netflix vs World
Meta vs Australia
White Light vs Dark Matter
Lexis King vs NIL's (WWE NXT)
Volk vs Naysayers (UFC: Sydney, Australia)
Brock Lesnar vs Everyone! (WWE Royal Rumble)
Roman Reigns vs CM Punk (WWE WrestleMania)
Green vs The Coal Miners Daughter
AC/DC vs Swifties
Triangle v World Bank
Sarah's Oil vs Big Oil
Mr X vs Mr VOX
Mr X vs Mr Platformer
Mr FOX vs Mr Vice
Fox And The Hound vs The View
The Masked Superstar vs Mr Jones
The Undertaker vs Mankind
UFC Legends vs Father Time
Vinnie Vegas and Oz vs Los Americanos
NXT GM vs The Don
Mr Moneymaker vs Mr Regulator
Mr Blockchain vs Mr EU
WWE Unreal vs The Old Guard
Reality TV vs John Pilger Type Journalism and Docos
Mr Real Deal vs Mr Grifter
Mr Truth vs Mr Shock Jock
Mr X vs Mr Bluesky: Rematch

What is Black Friday?Black Friday is the day after Thanksgiving in the United States, traditionally marking the start of the holiday shopping season. It's famous for massive discounts across retail, electronics, fashion, and more—often with "doorbuster" deals that draw huge crowds (or online frenzy). The name comes from old accounting practices where profits were marked in black ink (vs. red for losses), as retailers finally turned profitable post-Thanksgiving. While it's a U.S. phenomenon, it's gone global, including big sales in Australia through stores like Myer, JB Hi-Fi, and Amazon AU.

Black Friday 2025 DateIn 2025, Black Friday falls on Friday, November 28—just six days from now (November 22). Thanksgiving is on November 27, and Cyber Monday (the online-focused follow-up) is December 1. Many sales kick off early, sometimes on Thanksgiving evening or even mid-week, to snag shoppers before the rush.

Key Trends for 2025Early Bird Deals: Expect pre-sales starting now. Retailers are extending events to avoid crowds and compete with online giants.

Online Focus: Post-pandemic, most shopping happens digitally—skip the lines via apps or sites. Membership perks (e.g., Amazon Prime, Walmart+) often unlock early access.

Potential Impacts: Tariffs on imports could mean slimmer discounts or longer shipping times this year, so shop soon.

Global Twist: In Australia, look for local Black Friday events with AUD pricing, but U.S. sites ship internationally (watch duties).

News, Markets, Biz, Politics, Mining, Media, Marketing, Culture: Australia and World

December 2025

December 1

Markets

Australian Dollar: $0.6540 USD (up 0.0011 USD)
Iron Ore: $105.40 USD (down $1.30 USD)
Oil: $58.55 USD (down $0.55 USD)
Gold: $4,219.23 USD (up $61.79 USD)
Copper: $5.2780 USD (up $0.1155 USD)
Bitcoin: $87,321.17 -3.98%
Dow Jones: 47,716.42 (up 289.30 points)

News

ASX tipped for solid start ahead of GDP data

Futures pricing suggests that Australian equities will gain about 0.1 per cent when the market opens on Monday, following a positive lead from Wall Street. The release of GDP data for the September quarter is set to be a key focus for local investors in the coming week, as they seek guidance on the outlook for official interest rates. Inflation data released last week has heightened speculation that the next rate move may be up rather than down. The S&P/ASX 200 shed 0.37 per cent to close at 8,614.1 points on Friday, and it fell by three per cent in November. (RMS)

News

Nov 28

Gold may have doubled, but miners a gamble

Factors such as its 'safe haven' staus and record buying by central banks have seen the price of gold rise by more than 50 per cent so far in 2025. The share prices of Australian-listed gold producers have also rallied during 2025, and some have posted solid returns over the last decade. However, analysis shows that just 100 of the 172 listed gold miners in 2015 are still in business now. Meanwhile, about 40 per cent of the survivors have posted a negative return over the last 10 years. (RMS)

News

'Bloodbath': Black Friday deals pose a dilemma for small business

Australians are expected to spend nearly $7bn over the four days of the Black Friday and Cyber Monday sales, and up to $39bn over the month of November. Indeed, Black Friday has evolved to essentially become a one-month sales event, and there is a growing expectation among consumers that every store will offer big discounts. However, Black Friday is challenging for many small businesses, which simply cannot match the deep discounts of large retailers. This is highlighted by research from the Council of Small Business Organisations; it found that 60 per cent of small business owners do not pay themselves at least occasionally, while 25 per cent have used their personal savings to stay afloat. (RMS)

News

Australia's Most Trusted and Distrusted Brands + The Retail Landscape

Join Roy Morgan CEO Michele Levine to discover Australia's most Trusted and Distrusted brands; how traditional retail brands are being impacted by Temu, Shein, and AliExpress; how the dramatic shift to low prices is affecting discount department stores like Kmart and Big W; whether Amazon has finally become the digital category killer, impacting Myer, JB Hi-Fi and Harvey Norman; whether Coles and Woolworths are finally showing real signs of reputational recovery; and whether the retail sector seeing a rise in distrust amid all the upheaval. (Roy Morgan Summary)

News

Media and Marketing

Sport keeps TV afloat as Seven pips Nine

The Seven Network has become Australia's top-rating commercial free-to-air broadcaster for a fifth consecutive year. Seven's national audience share across the 2025 rating year was 41.6 per cent, ahead of the Nine Network on 40.5 per cent. Seven's total audience share across all five free-to-air networks was 29.4 per cent, followed by Nine (28.7 per cent), the ABC (21.5 per cent), Ten (12.6 per cent) and SBS (7.7 per cent). Nine's live coverage of the NRL Grand Final was the highest-rating program for the year, with a record 4.56 million viewers; the AFL Grand Final attracted a total audience of 4.18 million. (RMS)

News

The Age misses mark on AFL deal

A spokesman for DAZN says the UK-based sports-focused streaming company "categorically refutes" a recent media report which suggested that it could seek to renegotiate Foxtel's current seven-year AFL broadcasting rights deal. The Age reported last week that unnamed sources had claimed that DAZN believes it is paying too much for the AFL rights. Foxtel was acquired by DAZN earlier in 2025, in a deal that is said to have been worth about $3.4bn. (RMS)

News

News media eyes $600m yearly boost

Google, Meta, Microsoft, TikTok and Apple are estimated to have had combined revenue of $41bn in Australia during fiscal 2024. They could potentially pay local news publishers about $610m a year via the federal government's News Bargaining Incentive, which will penalise technology companies that fail to secure content deals with the nation's news publishers; based on the revenue of the 'big five', the financial penalty for not striking such deals could be around $920m a year. The NBI would apply to all digital platforms that operate "significant" social media or search services, even if they do not feature any news content. (RMS)

News

Magazine stable faces carve-up

Private equity firm Mercury Capital still hopes to sell the whole of Are Media to a single buyer. However, sources at Are have said there is speculation within the publisher that several potential suitors have expressed interest in selectively buying some magazine titles, and shunning the less profitable ones. Mining magnate Andrew Forrest is said to have been approached about buying the flagship Australian Women's Weekly via his family company, Tattarang, which already owns the RM Williams magazine. (Roy Morgan Summary)

News

AI threat slashes billions from classifieds giants

Jarden analyst Tom Beadle has downplayed the risks that online classified advertising groups are facing due to the growing use of artificial intelligence platforms. He contends that AI companies are unlikely to develop a 'killer application' that will disrupt the business of Real Estate Dotcom Dot Au http://realestate.com.au owner REA Group in the near term. However, REA Group's market capitalisation has fallen by nearly $9bn since August, while CAR Group - which owns Car Sales http://carsales.com.au - has shed 16 per cent of its value. Nevertheless, there are fears that AI platforms will be increasingly used to directly search for jobs, homes or cars. (RMS)

News

Nov 28

Free entry gets museum record-breaking visitors

Analysis of the annual reports of museums in Australia shows that consumers continued to embrace the nation's cultural institutions in 2024-25. Museums Victoria had the highest patronage, with 1.93 million visitors during the financial year; however, this was 13 per cent lower than previously. Meanwhile, Western Australia Museum was the nation's second-most-visited museum, with visits to its three sites rising by 21 per cent year-on-year to 1.2 million. WA Museum chair Sheila McHale notes that visitor numbers were boosted by the state government's decision to waive entry fees during the 2024-25 summer. (RMS)

News

Mining/Resources/Energy

Nov 28

Inside the battle for BHP's future

There is growing speculation that BHP's CEO Mike Henry is preparing to step down after six years in the role. However, BHP's merger talks with Anglo American last week showed that Henry is still deeply engaged in high-stakes strategic endeavours, rather than easing into retirement. Potential internal candidates to succeed Henry when he eventually steps down include Geraldine Slattery, Rag Udd, Vandita Pant and Catherine Raw. Meanwhile, some BHP directors believe that the resources group should simplify its commodities portfolio by exiting the coal sector and focusing on copper; indeed, analysis shows that both BHP and Rio Tinto have underperformed those of pure-play copper mines in recent years. (RMS)

News

Nov 28

Bitcoin stalled at a critical resistance

Market Overview

The crypto market cap corrected by 0.4% to $3.10T, pausing the cautious rebound from last Friday. Yet we can’t talk about the rebound running out of steam, as there was strong growth the day before. But we do not see any increase in optimism, as just about one in seven coins has gained in the last 24 hours, compared to a decline for most.

The sentiment index rose to 25, the threshold for exiting the territory of extreme fear, despite the latest round of weakness. The index’s dynamics are likely to attract buyers who were eager to enter the market but were waiting for a discount after the highs were set in early October.

Bitcoin has fallen below $ 91K, stabilising near the 61.8% Fibonacci retracement level of the decline since November 11th. The area near $90K was significant for the market about a year ago, serving as support for the correction after the growth momentum in early November. There is some risk that it will now act as resistance, reinforcing the bearish signal of a possible end to the rebound. A rise above $95K would signal a victory for the bulls and a return to a bull market, while a decline below $87K could open the way to $80K, driving the market into a depression.

News Background

Kronos Research describes the current dynamics as a classic rebound from oversold conditions. The market has cleared out excess long positions, creating room for growth, according to Presto Research.

Futures and options data point to a return of bullish sentiment. The market is ‘ready for growth’ after speculative longs were closed over the past two weeks, according to GSR.

According to CryptoQuant, in November, the Binance crypto exchange increased its stablecoin reserves to a record $51.1 billion. The growth of this indicator can be seen as a positive factor for the crypto market.

The potential exclusion of Strategy from the S&P 500 index and continued outflows from spot crypto ETFs could bring back bearish sentiment and trigger sell-offs, warns QCP Capital.

Bolivia will include cryptocurrencies and stablecoins in its national financial system to modernise it.

Cryptocurrencies will be allowed to be used as a means of payment, savings accounts, credit products and loans. The authorities’ decision is a result of the country’s challenging economic situation. (FxPro)

News

Heavy Industry News

Mack Trucks wins Media Man 'Truck Manufacturer Of The Month' award

Caterpillar wins Media Man 'Heavy Equipment Manufacturer Of The Month' award

Bingo Industries wins Media Man 'Construction Brand Of The Month' award

Elders wins Media Man 'Agribusiness Of The Month' award

Landman wins Media Man 'Streaming Series Of The Month' award (Oil/mining industry based story via Paramount Plus)

Jim's Mowing wins Media Man 'Franchise Of The Month' award

News

Pop Culture Flashback

Citizen Kane (1941)

Directed by Orson Welles | Written by Orson Welles & Herman J. Mankiewicz | Cinematography by Gregg Toland

Why it’s considered one of the greatest films ever made:

Revolutionary storytelling: Non-linear structure jumping through multiple perspectives and timelines — decades before it became common.

Iconic moments/lines:

“Rosebud…”

The campaign speech with the giant Kane poster

The slow push-in on young Charlie playing in the snow as his future is decided

“Old age… it’s the only disease, Mr. Thompson, that you don’t look forward to being cured of.” (Bernstein)

News

Salt of the Earth (1954

Mexican workers at a zinc mine call a general strike. It is only through the solidarity of the workers, and importantly the indomitable resolve of their wives, mothers, and daughters, that they eventually triumph.

Best Quotes

The best and biggest gold mine is in between your ears."

"You are a gold mine of potential power. You have to dig to find it and make it real."

"Your mind is like a gold mine, if you dig deep you will find something golden."

"Don't die without mining the gold in your mind."

"We're like goldfields. Until we dig deep to find what's inside us, our true potentials may be hidden forever."

"If you want to find gold, you've got to love the process of digging."

"Even if you're sitting on a gold mine, you still have to dig."

"Develop men the same way gold is mined"

"Don't go into the mine looking for dirt; instead, go in looking for the gold."

"A prospector's job is to remove dirt as quickly as possible"

"A prospector who analyses every speck of dirt won't find much gold"

"The world is sitting on a gold mine but knows it not." "Make new friends, but keep the old; Those are silver, these are gold."

"All that is gold does not glitter."

"Gold is forever. It is beautiful, useful, and never wears out"

"Gold is the money of kings"

"Mining is the art of exploiting mineral deposits at a profit. An unprofitable mine is fit only for the sepulcher of a dead mule."

"Anyone can find the dirt in someone. Be the one that finds the gold."

"True gold fears no fire."

"The desire of gold is not for gold. It is for the means of freedom and benefit."

"Make new friends, but keep the old; Those are silver, these are gold."

"When taken for granted, gold in one's hand is sometimes considered like cheap copper – so are people."

Media Man

Roy Morgan wins Media Man 'News Services Provider Of The Month' award; Runner-ups: X, Google News, Yahoo! Finance

Markets, Crypto and Culture

Bulls Running Show; Cryptos Struggle Down again, Medium Bull Update: Round 5! Bloody Noses and Black Eyes Cont! Red And Black Attack! All That Glitters. Bells Getting Rung! Aussie - US Connection

November 21, 2025

Sin City Sydney, Australia
Thank God It's Friday; Working On Less Risk

ASX futures down 125 points/1.5%: 8446
Wall Street:
S&P 500 -1.1%
Dow Jones: -0.4%
Nasdaq -1.4%

Europe:
Stoxx 50 +0.5%
FTSE +0.2%
DAX +0.5%
CAC +0.3%

Aust dollar +0.1% to US64.84 cents

Bitcoin -2.1% to $US86,705
Gold +0.1% to $US4082.80 per ounce
Oil -0.5% to $US59.14 a barrel
Brent crude oil -0.2% to $US63.36 a barrel
Iron ore -0.2% to $US104.10 per ton

10-year yield:
US 4.10%
Australia 4.46%
Germany 2.71%

Bitcoin: (Near Live) $87,277.10 -3.50%

News Update: (Near Live)

News

New York/Wall St via Mr Wolf!
The November Man!
20 Nov
Tiresome Thurs In New York

Cryptos Today: (Near Live)

Moody: Cryptos lose shine again!

Bitcoin $87,277.10 -3.50%
Ethereum $2,884.53 -3.32%
Tether $0.9988 -0.06%
Binance Coin $876.37 -1.82%
XRP $2.0261 -3.31%
Solana $134.50 -0.79%
TRON $0.2798 -2.34%
Dogecoin $0.1514 -1.16%
Cardano $0.4399 -3.91%

Market scares! Mood: Somber-like for many; picking up for some in traditional sectors! Hardcores keep dream! Many bears selling out!

Media Man Favs:

(Near Live)

Bells Rung by Mr Wolf! TKO kicks out, down but far from out; Comeback! Christmas Grinch Comes Early for some! Santa gives little for miners, gamers, some tech heads and grapplers!

Wall St, New York

TKO Group Holdings Inc $176.49 -11.88 -6.31%
NVIDIA Corp $180.64 -5.88 -3.15%
Formula One Group Series A $85.90 -1.54 -1.76%
Alphabet Inc Class A $289.45 -3.36 -1.15%
News Corp Class A $24.80 -0.17 -0.68%
Netflix Inc $105.67 -4.33 -3.94%
Caterpillar Inc $546.13 -6.98 -1.26%
Trump Media & Technology Group Corp $10.35 +0.060 +0.58%
Tesla Inc $395.05 -8.94 -2.21%
Walt Disney Co $102.70 -1.97 -1.88%
Wynn Resorts Ltd $117.14 -1.18 -1.00%
Meta Platforms Inc $589.22 -1.11 -0.19%
BHP Group Ltd (NYSE) $52.58 -0.89 -1.66% (NYSE)
Mercedes Benz Group ADR $16.13 -0.29 -1.77%
Elders ADR $19.73 (US)
Rio Tinto Ltd $85.00 -0.65 -0.76% (US)
Paramount Skydance Corp $15.68 +0.21 +1.36%
Red Light Holland Corp $0.019 -0.0023 -10.71%

News

The Dollar's new edge: from shield to sword

• The dollar is losing its safe-haven status. • The scale of the Fed's rate cuts has been overestimated. • The yen is the main favourite for 2026. • BoJ may not raise rates until March. If the US dollar was previously a shield, it is now turning into a sword. (FxPro)

News

Crypto market accelerates decline

Market Overview

The crypto market is experiencing a sharp decline, losing another 4% over the past 24 hours and falling back to $3.07 trillion, its lowest level since early May. The decline is accelerating relative to the trend observed since 10 October. At this stage, the market is being dragged down by major coins — Bitcoin, Ethereum, XRP — which are losing more than 5%, while some altcoins remain in the shadows. It is unlikely that this should be considered a sign of strength for coins such as Monero (+2.7%), Tron (-1.8%) or Bitcoin Cash (-2.4%). It would be more accurate to say that the bears have not yet reached them.

Bitcoin fell below $90K, trading at its lowest levels since the end of April. As expected, the dip below the 50-week moving average at the end of last week triggered sellers, confirming the breakdown of the bullish trend that had lasted for the previous two years. Now, the working scenario appears to be a chance for BTC to dip to its 200-week moving average. In 2022, this path took 9 weeks, and over 30 weeks to form the bottom.

Ethereum fell below $3,000, following Bitcoin, which rolled back below its 50-week moving average. In this case, the 200-week average (approximately $2,300) will deter sellers, and we are considering a decline to $1,700 as a working pessimistic scenario.

News Background

According to CoinShares, global investment in crypto funds declined by $2.036 billion last week, marking the third consecutive week of outflows. Investments in Bitcoin fell by $1.378 billion, in Ethereum by $689 million, in XRP by $16 million, and in Solana by $8 million. Investments in Sui rose by $6 million, in Litecoin by $3 million, and in ETFs with multiple crypto assets by $31 million.

The fall of Bitcoin from its record highs in October was triggered by the capitulation of short-term holders, rather than the distribution of coins by long-term investors, according to XWIN Research.

Ethereum is entering a Supercycle phase like the one that brought Bitcoin a hundredfold increase since 2017, said BitMine CEO Tom Lee. In his opinion, the market decline is attributed to issues with several large market makers attempting to provoke liquidations in Bitcoin.

The inflow of stablecoins to Binance reached $9 billion in 30 days. The indicator is close to historical peaks, which previously preceded strong market movements, notes CryptoOnchain analyst. In his opinion, capital in standby mode can quickly change the market dynamics in favour of the ‘bulls’.

Strategy's business model is entirely dependent on funds buying its shares and is built on ‘fraud,’ said Peter Schiff, a well-known cryptocurrency critic and gold advocate. Since July, Strategy's shares have fallen by more than 50%, and recently, its capitalisation has fallen below the value of its assets. (FxPro)

News

The crypto is set for a short-term rebound, not a full recovery

Market Overview

The crypto market cap has lost 9.5% over the past seven days. The decline took place on weekdays last week, with the level stabilising around $3.25 trillion over the weekend. Among altcoins, the standout is the unsinkable Zcash at $700, nearing its highs, and weak Solana and Ethereum, which have lost 45% and 40% from their August and September highs, respectively.

The crypto sentiment index recorded values of 10 on Saturday and Sunday, marking a return to the lows of late February this year. Although this was a good point to buy on the rebound in the following days, the downward trend continued for almost a month and a half. Market dynamics since the beginning of October have been reminiscent of those seen at the end of January. This is good news for short-term buyers but may cause medium-term buyers to stay on the sidelines for a while.

Bitcoin slipped below $93K during illiquid trading early in the day, but found impressive buyer interest there, rising to $95.6K. Whether this is a short-term rebound or the beginning of a recovery can only be determined after it consolidates above $100,000. There is a high chance that the strategy of selling on rebounds will remain prevalent.

News Background

Outflows from spot Bitcoin ETFs in the US continue for the third week in a row. According to SoSoValue, net outflows from spot BTC ETFs totalled $1.11 billion last week, slightly lower than the previous week's outflows, resulting in a total inflow of $58.85 billion into these products since January 2024.

Net outflows from spot Ethereum ETFs in the US continue for the second week in a row, amounting to $728.6 million. The cumulative net inflow since the launch of ETFs in July 2024 has fallen to $13.13 billion.

Inflows into the recently launched Solana spot ETFs in the US have continued for the third consecutive week, totalling $382.1 million. However, during this time, the price has fallen by a third, reinforcing the idea that entering traditional financial markets does not necessarily promise price growth.

Long-term Ethereum holders have increased their sales to 45,000 ETH per day, the highest level since February 2021, according to Glassnode. Long-term Bitcoin holders are also actively selling their holdings. According to CryptoQuant, they have dumped 815,000 BTC on the market over the past month.

Miner Bitfarms has announced a gradual phase-out of Bitcoin mining and a transition to developing infrastructure for artificial intelligence. The company reported a net loss of $46 million in its third-quarter report. (FxPro)

News

Gold stabilised at $4,000, but the upward trend has already broken down Gold has stabilised around the $4,000 mark over the last ten days, ending the week at roughly the same level as it started. Attempts by sellers to push the price below $3,900 are meeting with impressive buying interest.

This is facilitated by the Supreme Court, which is considering the illegality of US tariffs. If Donald Trump is defeated, the money will have to be returned. As a result, the budget deficit and public debt will increase, leading to chaos in the financial markets. Concerns about this are prompting investors to seek refuge in safe-haven assets. However, this all appears to be an attempt to play the old card, which can only delay the inevitable.

According to estimates by the World Gold Council, central bank purchases of bullion in 2025 are expected to amount to 750-900 tonnes. In each of the previous three years, the figure exceeded 1,000 tonnes. China's cancellation of VAT credits for precious metal retailers will increase prices for the jewellery industry and lead to a decline in demand. ETF stocks are falling.

HSBC, Bank of America and Societe Generale continue to stick to their forecasts of $5,000 per ounce. However, the gold rally has broken down. Selling on the rise is becoming relevant. (FxPro)

News

Crypto bulls fail to maintain momentum

Market Overview

The crypto market has gained 1% over the past 24 hours, the first increase after four days of decline. The market is stabilising at levels just above $3.4 trillion, close to May's local highs. The situation currently resembles a pause in the decline rather than a serious reversal, due to somewhat cautious sentiment in the stock markets and the strengthening of the dollar since the second half of September. Ironically, this reversal coincides with the resumption of the easing cycle of monetary policy. The sentiment index has emerged from the zone of extreme fear, which also coincided with a market rebound. According to the creators of such an index, now is the right time for bulls. Still, traders should be cautious with such an interpretation, as the previous rebound from extreme fear was not long-lasting, and the market is now 5% below the local low of 17 Oct, when sentiment last recovered from extreme anxiety. Bitcoin is trading near $103,000, pausing its rebound but remaining far from its recent lows. The bulls managed to bring the coin back above the 50-week moving average, but there is still a lot of time left until the end of the week, and for now, time is on the bears' side. On intraday charts, it looks as if the rebound has run out of steam and sellers are ready to seize the initiative again.

News Background

Cryptocurrencies are under pressure from general risk aversion in global markets. Among the factors are concerns about the Fed's interest rate and the situation in the credit sector, according to Hashdex. Wintermute attributes the worst performance of cryptocurrencies among all other asset classes to the redistribution of cash flows to other markets. Short-term Bitcoin holders continue to sell cryptocurrencies at a loss, using any rebound as an opportunity to sell, notes analyst Darkfost. However, accumulator addresses — wallets that only buy and never sell — have acquired a record 375,000 BTC over the past month. Amid the asset's decline, French company Sequans Communications, which accumulates Bitcoin, was forced to sell 970 BTC to partially repay its convertible debt. The company's reserves fell from 3,234 to 2,264 BTC. Japanese company Metaplanet, on the other hand, is raising funds to purchase bitcoins. On 31 October, the company received a $100 million loan secured by its reserves. Ripple announced that it had raised $500 million in strategic investments (with a valuation of $40 billion) from major institutional players. Zcash (ZEC) could become an alternative to Bitcoin among those who fear the centralisation of BTC due to Wall Street and are concerned about the tracking of on-chain transactions, according to Galaxy Digital. Supporters of the private coin refer to it as ‘encrypted Bitcoin’ and a return to the principles of the cypherpunks. (FxPro)

News Lead Up

Price Movements and Market Outlook

Spot Gold Dips Slightly: Gold traded at $4,068.70 per troy ounce on November 17, down 0.36% from the previous day. This extends a two-day losing streak amid fading bets for a December Fed rate cut, with the probability dropping below 50%. However, the metal remains up 55.75% year-over-year, supported by broader safe-haven demand.

Recent Rally: Prices surged nearly 3% earlier in the week to a two-week high, driven by soft U.S. economic indicators that bolstered rate-cut hopes and lifted non-yielding assets like gold.

Forecast: Analysts see potential upside if gold sustains above $4,100, targeting $4,140–$4,145, and possibly $4,200. A break below $4,000 could accelerate declines toward $3,900. A weaker USD and softer risk sentiment are keeping a floor under prices, amid concerns over the ongoing U.S. government shutdown impacting economic momentum.

Global Demand and Regional Updates

India and China Cooling: Physical demand in India stayed subdued due to volatile prices, leading to steep discounts for the first time in seven weeks post-festivals. In China, a state bank halted new retail gold accounts after tax exemptions were tweaked, likely curbing demand in the world's top consumer market. Premiums rose in other Asian hubs as global rates eased.

Investment Trends: First-time gold investing hit its strongest levels since the Global Financial Crisis, per recent surveys, signaling renewed interest amid uncertainty.

Buzz on X (Recent Posts) Social discussions highlight gold's role as a hedge against crypto volatility and inflation: Users are buying gold amid Bitcoin's dip into the $80Ks, viewing it as a tangible alternative to "digital tulips."

News

Gold: correction is not over yet

The strengthening of the US dollar and higher Treasury yields have brought the gold price back below $4000.

Yellow metal is gradually losing its wild cards. It managed to reach a record high thanks to devaluation trading, expectations of aggressive monetary expansion by the Fed, Donald Trump's threats of 100% tariffs against China, geopolitics, pessimistic forecasts for the global economy, and active purchases of bullion by central banks.

However, the White House is no longer attacking the Fed as aggressively as before. The US and China have found common ground. The Middle East conflict has been resolved, and the global economy is proving resilient in the face of tariffs. The Fed is cautious about lowering rates, and central bank activity in the bullion market is declining.

The other two examples of similar velocity of gold rose were 1979 and 2011. The experience of those years shows that the surge and collapse were followed by long periods of consolidation. In other words, after a period of retreat from the top, the precious metal will find its trading range and settle within it. But for the weeks ahead, we continue to see more risks of further decline. (FxPro)

News Flashback

Oil Holds Strong Despite Bearish Fundamentals

Weekly data from the EIA noted that the US returned to record oil production rates last week, supplying an average of 13.6 million barrels per day to the market, according to the latest EIA data. The trend towards increased supply began in August, but producers have only now returned to the peak levels recorded at the end of last year. Despite a 5.5-million-barrel increase in US commercial inventories over the past two weeks, inventories stay at the lower end of the range seen over the past decade, leaving considerable room for growth. The same can be said for the strategic reserve, which holds nearly 40% less oil than it did five years ago, before the start of the active sell-off. It is an interesting game in which, on the one hand, the US (the largest oil producer) is increasing supplies, while OPEC+ is increasing quotas on a monthly basis. This extremely bearish combination of factors did not cause oil prices to collapse; it was only because of global trade in currency depreciation that caused precious metals, stock indices, and cryptocurrencies to rise. Oil prices have not peaked in recent weeks .. To be cont .. (FxPro)

News

Gold hits new highs due to political turmoil

Gold is outside the realm of politics.

While currencies and securities depend on the actions of presidents and governments, precious metals do not. Therefore, political turmoil forces investors to use them as safe-haven assets.

The impressive 52% rally in gold started in April with the introduction of tariffs on America's Liberation Day. It continued due to the US government shutdown, the political crisis in France, and the change of leadership in Japan. he rise of gold above 4,000 dollars per ounce is not only the result of the weakness of fiat currencies. There are tectonic shifts in the structure of investment portfolios and fears of financial crises due to government recklessness.

The share of precious metals is growing both in speculators' assets and in the gold and foreign exchange reserves of central banks. The indicator has already exceeded the share of the euro. According to Eurizon Capital, if it equals the share of the US dollar, the price per ounce will soar to 8,500 dollars. The Supreme Court's abolition of tariffs will inflate the US budget deficit. France does not intend to reduce it, and Japan plans to increase bond issuance. All this creates a tailwind for commodity assets. (FxPro)

News

Pop Culture News

Dream Matches: Fantasy Booking/Sports; Media Man Group Dream Match Series; Crack The Code!

Million Dollar Man vs IRS
Michael Wall Street vs Billionaire Ted
Mr X vs Mr BTC
Mr Green vs Mr Cash
VKM vs Easy E
Vinnie Vegas vs Mr Corbin
Mr Corp Merch vs Mr Freelance
Masked Superstar vs John McAfee
Sid Justice vs Mr Blood Diamond
Mr Bluey Chipper vs Street Fighter - King Of The Streets Mr Dotcom vs Mr Wiki
Mr Gold vs Mr Green - Money In The Bank Ladder Match Khan vs Khan - Winner Take All Match
Mr Wolff vs The Cleaner
Mr News vs Mr Vice - U.S Market Footprint Stipulation Mr Paramount vs Mr Netflix
Mr ESPN vs Mr Fox
Mr Kross vs Mr H
Cesaro vs Rollins
Dirty Dom vs Mr AAA
Punks vs Egos
Kross vs H
Murdoch Title vs Title
Mr Black Coffee vs Mr Claudio's Cafe Blend
Mr Warner vs Mr Netflix: Broadway draw thus far! Re-match! Winner take all?!
TMZ vs Riddle UFC vs PFL
The Oracle vs Cincinnati, Ohio
Mr X vs Hollyweird
Succession vs Billions
Mouse House vs Art House
NFL vs UFL
ABC vs Mainstream Aussies
Reigns vs Blanka
Cody Rhodes vs Joe
E. Honda vs NJPW
Capcom vs Warner
Cena vs ACME
Combat Sports Players vs Father Time
NXT vs TNA Wrestling (Showdown, not Invasion)!
Alpha vs Meta
TED X vs The Others
WWE's Solo vs NYC and Western Australia
UFC Predator vs MMA Predator
UFC Legal vs UFC Bad Egg Betting Disruptors
Bulls vs Bears
Logan Paul vs WWE babyfaces
Santa's Helper vs Grinch
John McAfee vs FBI + + +, Running .... Netflix Wins again!
Killer Kross vs Matt Riddle - Shoot Fight/Wrestling (MLW)!
VKM vs Numerous!
MLW vs The World
The Big Event vs US Promoters
Storm vs WWE Locker Room. Lash Legend on side!
NXT Gold Rush: Page & Green vs Hendry & Hail
Baszler vs Itoh - HOG Superclash - Nov 15
MSG, NY winning with WWE and UFC in Nov
The Vision vs WWE Lockerroom
John Cena vs Dirty Dom
Miz vs Management
Jericho vs Internet Marks
Mr Gold vs Mr Fool's Gold
Neo vs Mr Smith
PBR vs Others. No Bull?!
Aus Gvt vs Big Tech
Banks vs Cryptos
NVIDIA vs World
White House vs Wokes

News

Cryptocurrency Movies
Docos

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopter Daniel Mross, exploring Bitcoin’s origins, its volatile rise, and the community behind it. Great for understanding Bitcoin’s early days and its potential to disrupt finance.

Banking on Bitcoin (2016)
Examines Bitcoin’s history, ideological roots, and impact on global financial systems through interviews with pioneers and experts. A solid primer for newcomers.

Cryptopia: Bitcoin, Blockchains, and the Future of the Internet (2020)
Directed by Torsten Hoffmann, this documentary dives into blockchain’s broader applications beyond cryptocurrency, addressing scalability and regulatory challenges. Ideal for those interested in blockchain’s transformative potential.

Trust Machine: The Story of Blockchain (2018) Narrated by Rosario Dawson, it explores blockchain’s societal impact, from financial inclusion to voting systems. A comprehensive look at real-world applications.

Bitcoin: The End of Money as We Know It (2015)
Traces the history of money and introduces Bitcoin as a decentralized alternative, critiquing centralized financial systems. Features interviews with crypto experts.

Deep Web (2015) Narrated by Keanu Reeves, this documentary focuses on the Silk Road marketplace and its creator, Ross Ulbricht, highlighting Bitcoin’s role in dark web transactions.

Bitconned (2024) Explores the Centra Tech crypto scam, detailing how three individuals defrauded investors during the 2010s crypto boom. A cautionary tale about unregulated markets.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. It follows a young anti-money laundering agent investigating corruption and cryptocurrency in his hometown. Critics note its exaggerated portrayal but praise its entertainment value.

Silk Road (2021)
A dramatization of Ross Ulbricht’s creation of the Silk Road, a dark web marketplace using Bitcoin. It explores his rise and fall, blending crime and drama.

Dope (2015) A coming-of-age comedy-drama featuring Bitcoin as a plot device. High schooler Malcolm uses Bitcoin for a dark web transaction, reflecting its early association with illicit activities.

Bonus Mentions

Life on Bitcoin (2014): Follows a couple attempting to live solely on Bitcoin for 100 days, showcasing early adoption challenges.

Bitcoin Heist (2016): A Vietnamese action-comedy about hackers chasing a crypto criminal, blending humor and thrills.

Notes Documentaries are generally more educational, focusing on Bitcoin’s history, blockchain technology, and real-world implications. They’re great for beginners and enthusiasts alike.

Feature films often dramatize crypto’s association with crime or scams, sometimes oversimplifying or exaggerating for effect. They prioritize entertainment over accuracy. For a deeper dive, check streaming platforms like Prime Video, Fandango at Home, or YouTube, where many of these are available.

News

Wall Street (Movie)
Wall Street (1987), directed by Oliver Stone, is a drama about ambition and greed in the 1980s financial world. It follows Bud Fox (Charlie Sheen), a young stockbroker desperate to succeed, who gets entangled with Gordon Gekko (Michael Douglas), a ruthless corporate raider. Gekko’s mantra, “Greed is good,” drives the story as Bud is lured into insider trading and unethical deals, compromising his morals for wealth and power.

The film explores themes of capitalism, loyalty, and betrayal, with Bud navigating pressures from Gekko, his father (Martin Sheen), and his own conscience.

Key Details: Cast: Michael Douglas (Gordon Gekko), Charlie Sheen (Bud Fox), Daryl Hannah (Darien Taylor), Martin Sheen (Carl Fox).
Runtime: 2h 6m.
Genre: Drama/Crime.
Rating: R. Box Office: ~$44 million (US).

Awards: Michael Douglas won the Academy Award for Best Actor.

Notable Aspects:

Gekko’s “Greed is good” speech is iconic, reflecting 1980s excess. Inspired by real-life figures like Ivan Boesky and Michael Milken.

A sequel, Wall Street: Money Never Sleeps (2010), continued the story.

Where to Watch (as of 2025):
Streaming: Available on platforms like Peacock or rentable on Amazon, YouTube, or Apple TV (check current availability).
Physical: DVD/Blu-ray via retailers like Amazon.

News

Best Quotes

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Media Man "Bullish is a mindset"

Black Monday: News

April 7, 2025

ASX: News

At the heart of Australia’s financial markets

ASX operates at the heart of the globally attractive, deep and liquid Australian financial markets. It uses technology to develop innovative solutions that make life easier for our customers and create value for our shareholders.

ASX stands for Australian Securities Exchange. It was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006 and is one of the world’s top-10 listed exchange groups measured by market capitalisation.

What we do

ASX is an integrated exchange offering listings, trading, clearing, settlement, technical and information services, technology, data and other post-trade services.

It acts as a market operator, clearing house and payments system facilitator. It oversees compliance with its operating rules, promotes standards of corporate governance among Australia’s listed companies and helps to educate retail investors.

ASX operates markets for a wide range of asset classes including equities, fixed income, commodities and energy. As an integrated exchange, ASX’s activities span primary and secondary market services, including the raising, allocation and hedging of capital flows; trading and price discovery; central counterparty risk transfer; and securities settlement for both the equities and fixed income markets.

ASX’s business is structured around four divisions: Listings, Markets, Technology and Data, and Securities and Payments.

More information about ASX’s Executive Team is available here.

Market supervision
ASX Compliance function oversees compliance by listed entities and market participants with ASX listing and operating rules, respectively. Confidence in the operations of ASX is reinforced by the market supervision and regulatory role undertaken by the Australian Securities and Investments Commission (ASIC) across all trading venues and clearing and settlement facilities, as well as through the Reserve Bank of Australia's oversight of financial system stability. ASIC also supervises ASX’s own compliance as a listed public company. (Crdit: ASX)

ASX pares losses as buyers creep in; bitcoin slump

April 7, 2025

The Australian sharemarket had pared some losses by lunchtime following a broad and violent sell-off led by mining and the big four banks after China escalated the trade war and raised fears of a global recession.

The benchmark S&P/ASX 200 sank 284.4 points, or 3.7 per cent, to 7383.4 points near midday AEST, paring a more than 6 per cent loss in early trading when the market wiped nearly $145 billion. The action followed a heavy sell-off on Wall Street that pushed the Nasdaq into a bear market. US futures point to equally heavy selling tonight.

All 11 ASX sectors were in the red. Energy plummeted more than 7 per cent, while miners and banks also weighed on the bourse. Index heavyweights BHP and Commonwealth Bank dived 5.9 per cent and 5.3 per cent respectively.

The S&P 200 is now trading well in correction territory, extending its losses from its recent high to 15.3 per cent. Further declines could push the benchmark gauge into a bear market – a drop of 20 per cent. The flight from risk assets sent bitcoin briefly below $US78,000 – about a 7 per cent drop.

Blunt-force economic warfare
Asian stocks slumped on Monday after China retaliated against the Trump administration’s tariffs with an additional 34 per cent tariff on goods from the United States, the same rate imposed by Washington. That is ahead of America’s country-specific reciprocal tariffs coming into effect on Wednesday.

“With China’s retaliation locking in at 34 per cent tariffs across the board, and Beijing layering in rare earth export controls … it’s clear we’re not in the tit-for-tat stage any more. This is blunt-force economic warfare,” SPI asset management managing partner Stephen Innes said.

In Australia, energy stocks were the most heavily sold after Saudi Arabia slashed its flagship crude price by the most in more than two years. Index heavyweight Santos sank 9.6 per cent and fellow oil and gas producer Woodside 5.4 per cent. Petrol producer Ampol plunged 8.1 per cent.

Miners retreated after iron ore prices plunged – Fortescue was off 5.9 per cent – while gold miners did not escape the sell-off, with Evolution Mining shedding more than 6 per cent.

Stocks on the move
In corporate news, Abacus Storage King rallied 16.4 per cent after its majority investor Ki Corporation and NYSE-listed Public Storage lobbed a proposal to buy the remaining stake for $1.47 a share.

Challenger jumped 7.9 per cent after it announced life insurer TAL Dai-ichi Life would acquire a 15.1 per cent interest.

ASX lifts but still below 8000; Johns Lyng dives 14pc

March 10, 2025

Australian shares edged higher on Monday after diving to a six-month low in the previous session, as a barrage of tariff announcements that unleashed chaos in equity markets last week kept investors cautious.

The S&P/ASX 200 Index rose 19.4 points, or by 0.2 per cent, to 7967.6 points on Monday afternoon. The All Ordinaries Index inched 0.2 per cent higher. Seven of the bourse’s 11 sectors were in the green, led by energy.

Investors are bracing for more volatility this week, with levies of 25 per cent on steel and aluminium exported to the United States expected to start on Wednesday. Hopes are fading that the Albanese government will succeed in lobbying the White House for an exemption. US President Donald Trump’s back and forth on tariffs last week had unsettled Wall Street, sending the technology-heavy Nasdaq into a brief correction.

China’s weaker-than-expected inflation print is also likely weighing on sentiment. Consumer prices declined to minus 0.7 per cent in February, undercutting forecasts, while core inflation also edged lower to 0.3 per cent.

Energy stocks rebounded from a steep sell-off last week that saw the sector shed 6.3 per cent. Oil and gas producer Woodside gained 1.9 per cent. Coal miners advanced, Yancoal by 2.2 per cent and Whitehaven Coal 3.1 per cent.

The index’s gains were offset by biotech CSL, which dipped 1.4 per cent after going ex-dividend. Power companies also weighed, with Origin Energy slipping 1.1 per cent and AGL 1.3 per cent.

Cryptocurrency investors were skittish, sending bitcoin tumbling towards $US80,000 after Trump’s comments over the weekend about a possible recession bolstered risk-off sentiment.

Stocks on the move

In corporate news, Star Entertainment is considering a rescue offer from American casino giant Bally’s following the Queen’s Wharf takeover it signed on Friday with two Hong Kong investors. The shares remain suspended from trading.

Johns Lyng Group slumped 14.6 per cent after the news that the insurance repairer would be booted from the ASX 200 at the coming quarterly rebalance. The shares have shed a quarter of their value in the past six months.

Copper-silver explorer Cobre rose 5.1 per cent after signing an earn-in agreement with BHP that will arrange for the latter to provide up to $US25 million ($40 million) in funding for exploration at the Kitlanya East and West copper projects in Botswana, Street Talk reported.

Mayur Resources gained 3.7 per cent after businessman Gerry Harvey, founder and chairman of Harvey Norman, became a major investor in the Papua New Guinea-focused miner.

And Macquarie slipped 0.2 per cent after Citi said consensus estimates on income from the commodities business may be failing to take into account major shifts in gas supply.

3.27PM

Coal miners gain after prices post second-best week this year

Coal miners helped boost the bourse on Monday after prices capped Friday by posting their second-best week this year.

The benchmark Newcastle coal futures contract advanced 1.2 per cent last week, its best week since January and despite prices paring some gains on Friday.

On the ASX, pure play coal producer Yancoal gained 2.4 per cent on Monday, and Whitehaven Coal 3.3 per cent. New Hope Corporation lifted 0.5 per cent.

3.05PM

Metals decline on weak China data and US tariff uncertainty

Industrial metals declined across the board as investors grapple with the uncertainty of the Trump administration’s tariffs, while signs of weakness in China’s economy added to the murky outlook for global growth.

Chinese inflation figures released on Sunday pointed to stubborn weakness in demand as the world’s second-biggest economy struggles through a years-long property crisis.

At the same time, US President Donald Trump warned the US economy faces a “period of transition”, following market turmoil fuelled by his trade policies.

Copper extended its slide from a four-month-high, dropping 0.3 per cent to $US9588 a tonne by 10.23am Shanghai time (1.23pm AEDT) on the London Metal Exchange. Aluminum also declined, while iron ore futures in Singapore eased to $US100.40 a tonne.

2.09PM
Market too optimistic on Macquarie commodities earnings, says Citi

Citi has cast doubt over earnings forecasts for Macquarie, saying consensus estimates around income from its commodities business may be failing to consider major shifts in gas supply and the impact on prices.

Underperformance from Macquarie’s commodities arm at the bank’s recent interim results led analysts to trim income expectations from $3.36 billion to $3.15 billion for this financial year.

However, Citi’s Brendan Sproules said earnings would bounce back in 2026 with income expectations only cut by 2 per cent from $3.56 billion to $3.48 billion for that year. He argued these estimates were at odds with an expected boost to LNG supply in the medium term, triggered by an expected uptick from the Middle East and the potential return of Russian gas to the market.

“We think that efforts to transform supply – and increase it – will have the overall impact of lowering volatility in time, which has the potential to rebase trading opportunities – and Macquarie’s commodities revenue with it,” he said, adding that Macquarie’s attempts to “anchor the market’s expectations back to 2022 levels in commodities income” could be misleading given the headwinds.

1.21PM
Suncorp, QBE, IAG rebound after cyclone eases

Insurer Suncorp was among the best-performing stocks on the S&P/ASX 200 Index on Monday after Tropical Cyclone Alfred weakened and destruction across hundreds of kilometres of the Australian coastline ended up less severe than expected.

Suncorp gained 3 per cent on after shedding almost 7 per cent last week. QBE and Insurance Australia Group lifted 1.4 per cent, partially paring a more than 3 per cent loss last week.

Multiple insurers attempted to reassure investors last week that reinsurance arrangements would kick in to protect shareholders from losses as fears mounted about the cyclone’s impact. S&P Global Ratings had estimated insurers would lose about $2 billion from Alfred.

Fears of a category 2 system hitting land did not come to pass, however, after Alfred was downgraded to a tropical storm before it hit the coast on Saturday night. The cyclone continues to bring flash flooding and strong winds to south-east Queensland and northern NSW.

12.25PM
ASX up but still below September level; Johns Lyng dives 9pc

Australian shares edged higher on Monday after diving to a six-month low in the previous session, as a barrage of tariff announcements that unleashed chaos in equity markets last week kept investors cautious.

The S&P/ASX 200 Index rose 17.2 points, or by 0.2 per cent, to 7965.4 points at lunchtime, having slipped below 8000 on Friday for the first time since September. The All Ordinaries Index inched 0.2 per cent higher. Seven of the bourse’s 11 sectors were in the green, led by energy.

Investors are bracing for more volatility this week, with levies of 25 per cent on steel and aluminium exported to the United States expected to start on Wednesday. Hopes are fading that the Albanese government will succeed in lobbying the White House for an exemption. US President Donald Trump’s back and forth on tariffs last week had unsettled Wall Street, sending the technology-heavy Nasdaq into a brief correction.

China’s weaker-than-expected inflation print is also likely weighing on sentiment. Consumer prices declined to minus 0.7 per cent in February, undercutting forecasts, while core inflation also edged lower to 0.3 per cent.

Energy stocks rebounded from a steep sell-off last week that saw it shed 6.3 per cent. Crude retook $US70 a barrel but remains near six-month lows. Oil and gas producer Woodside gained 2.2 per cent. Coal miners advanced, Yancoal by 2.4 per cent and Whitehaven Coal 3.1 per cent.

Technology shares mirrored the US moves, albeit modestly. Logistics giant WiseTech lifted 0.5 per cent and Xero 0.9 per cent. The index’s gains were offset by biotech CSL, which dipped 1.4 per cent after going ex-dividend.

Cryptocurrency investors were skittish, sending bitcoin tumbling towards $US80,000 after Trump’s comments over the weekend around a possible recession bolstered risk-off sentiment.

Stocks on the move

In corporate news, Star Entertainment is considering a new rescue offer from American casino giant Bally’s following the Queen’s Wharf takeover it signed on Friday with two Hong Kong investors. The shares remain suspended from trading.

Copper-silver explorer Cobre rose 1.7 per cent after signing an earn-in agreement with BHP that will arrange for the latter to provide up to $US25 million ($40 million) in funding for exploration at the Kitlanya East and West copper projects in Botswana, Street Talk reported.

Johns Lyng Group slumped 8.8 per cent after it emerged the insurance repairer would be booted from the ASX 200 at the coming quarterly rebalance. The shares have shed a quarter of their value in the past six months.

GQG Partners pared gains, up 0.2 per cent at lunchtime. That’s despite net flow falling by more than a third in February as outflow from the group’s emerging market equity division gathered pace.

And Mayur Resources gained 3.7 per cent after businessman Gerry Harvey, founder and chairman of Harvey Norman, became a major investor in the Papua New Guinea-focused miner.

11.44AM
Star reviewing last-minute Bally bid

Star Entertainment has confirmed it is considering a last-minute rescue bid from US casino operator Bally’s, just days after agreeing to sell a 50 per cent stake in its Queen’s Wharf precinct in an alternative deal.

In a letter sent to Star chief executive Steve McCann on Sunday, Bally’s proposed a $250 million recapitalisation for Star Entertainment in a last-ditch attempt to take control of the casino group, saying it would inject new funds in return for at least a 50.1 per cent stake and was “very open to discussing a larger transaction”.

Star said on Monday that it would review the proposal, but noted that Bally’s letter “does not include any details of other proposed terms and conditions”.

11.14AM
Oil falls to near six-month low

Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand.

Brent crude traded near $US70 a barrel, while West Texas Intermediate was below $US67 after seven weeks of declines. China’s consumer inflation dropped by more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the world’s biggest crude importer.

Crude has been hit by a confluence of bearish factors, including an escalating global trade war, plans by OPEC and its allies to increase production, and talks to end the three-year war in Ukraine. That has spurred speculators to cut net-bullish bets on the global benchmark Brent by the most since July.

10.55AM
ASX 200 rebalance: DigiCo in, Star out

DigiCo Infrastructure REIT has nabbed a spot in the S&P/ASX 200 just three months after the HMC Capital-owned stock made its sharemarket debut.

The $985.5 million data centre stock will be upgraded to the main index on March 24, along with Capstone Copper, furniture retailer Temple & Webster, Spartan Resources, Nuix, Macquarie Technology Group and Imdex.

They will push out embattled casino operator Star Entertainment, which is weighing up a new rescue deal from US casino giant Bally’s, as well as insurance repairer Johns Lyng Group, coal miner Coronado Global Resources, Audinate Group, Collins Foods, Charter Hall Social Infrastructure REIT and Kelsian Group.

10.11AM
ASX rebounds from six-month low; bitcoin extends losses

Australian shares rebounded on Monday from a six-month low, in line with gains on Wall Street, as bargain hunters stepped in after tariff announcements unleashed chaos in equity markets last week.

The S&P/ASX 200 Index rose 28.3 points, or by 0.3 per cent, to 7976.5 in the morning session, after slipping below 8000 on Friday. The All Ordinaries Index edged 0.3 per cent higher. Nine of the bourse’s 11 sectors were in the green, led by energy.

Buying activity was muted in early trade, however, with investors cautious as they brace for more volatility this week. Levies of 25 per cent on steel and aluminium exported to the United States are expected to start on Wednesday, even as the Albanese government lobbies the White House for an exemption.

US President Donald Trump’s back and forth on tariffs last week on Canadian and Mexican goods had unsettled Wall Street. The technology-heavy Nasdaq rebounded on Friday from a brief correction – having fallen more than 10 per cent from its December peak – lifting 0.7 per cent.

ASX-listed tech stocks mirrored the moves, albeit modestly. Logistics giant WiseTech lifted 0.5 per cent and Xero 0.4 per cent. While in property, Goodman Group rose 0.4 per cent after shedding almost 5 per cent on Friday.

Energy stocks rebounded from last week’s steep bout of selling, which saw the ASX’s energy sector shed 6.3 per cent as a dour outlook for demand weighed on oil prices. Woodside gained 1 per cent and Santos 0.6 per cent.

Elsewhere, cryptocurrency investors were skittish, sending bitcoin tumbling towards $US80,000 after Trump’s comments over the weekend around a possible recession bolstered risk-off sentiment.

Stocks on the move

In corporate news, Star Entertainment is considering a new rescue offer from American casino giant Bally’s following the Queen’s Wharf takeover it signed on Friday with two Hong Kong investors. The shares remain suspended from trading.

Copper-silver explorer Cobre rose 3.4 per cent after signing an earn-in agreement with BHP that will see the latter provide up to $US25 million ($40 million) in funding for exploration at the Kitlanya East and West copper projects in Botswana, Street Talk reported.

GQG Partners rose 1.4 per cent, in line with the market’s rebound. That’s despite net flows falling by more than a third in February as outflows from the group’s emerging market equity division gathered pace.

And Mayur Resources gained 1.9 per cent after businessman Gerry Harvey, founder and chairman of Harvey Norman, became a major investor in the Papua New Guinea-focused miner.

Newsfeed powered by The Australian Financial Review

Markets and Commodities

October 17, 2024

Australian Dollar: $0.6670 USD (down $0.0030 USD)

Iron Ore Nov Spot Price (SGX): $104.55 USD (down $1.85 USD)

Oil Price (WTI): $70.52 USD (down $0.39 USD)

Gold Price: $2,673.95 USD (up $12.93 USD)

Copper Price (CME): $4.3665 USD (up 0.0270 USD)

Bitcoin: $67,856.42 USD (up 1.50% in last 24 hours)

Dow Jones: 43,077.70 at 4.20pm NY time (up 337.28 points on yesterday's close)

Markets and Commodities

October 10, 2024

Australian Dollar: $0.6710 USD (down $0.0040 USD)

Iron Ore Nov Spot Price (SGX): $105.15 USD (unchanged - public holiday)

Oil Price (WTI): $73.36 USD (down $0.55 USD)

Gold Price: $2,607.14 USD (down $15.75 USD)

Copper Price (CME): $4.4080 USD (down 0.0605 USD)

Bitcoin: $60,908.07 USD (down 2.11% in last 24 hours)

Dow Jones: 42,512.00 at 4.20pm NY time (up 431.63 points on yesterday's close)

Market, Commodities and Financial News Snapshot via Media Man

October 7, 2024

ASX futures up 26 points or 0.3% to 8215 near 6am AEST

AUD +0.1% to US68.01¢

Bitcoin +1.3% to $US62,692

US 10-year yield +13bp to 3.97%

Dow +0.8% S&P +0.9% Nasdaq +1.2%

FTSE flat DAX +0.6% CAC +0.9%

Gold -0.1% to $US2653.60 an ounce

Brent oil +0.6% to $US78.05 a barrel

Iron ore -0.3% to $US108.70 a tonne

Markets and Commodities

October 7, 2024

Australian Dollar: $0.6786 USD (down $.0054 USD)

Iron Ore Nov Spot Price (SGX): $108.70 USD (down $0.05 USD)

Oil Price (WTI): $74.38 USD (up $0.67 USD)

Gold Price: $2,653.25 USD (down $2.79 USD)

Copper Price (CME): $4.5675 USD (up 0.0240 USD)

Bitcoin: $62,679.21USD (up 1.48% in last 24 hours)

Dow Jones: 42,352.75 (up 341.16 points on Thursday's close)

Markets and Commodities

September 11, 2024

Australian Dollar: $0.6650 USD (down $0.0010 USD)

Iron Ore Oct Spot Price (SGX): $91.00 USD (down $1.35 USD)

Oil Price (WTI): $66.31 USD (down $2.49 USD)

Gold Price: $2,516.51 USD (up $11.13 USD

Copper Price (CME): $4.1050 USD (down 0.0365 USD)

Bitcoin: $57,669.72 USD (down 0.38% in last 24 hours)

Dow Jones: 40,736.96 at 4.59pm NY time (down 92.63 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

September 11, 2024

ASX futures down 3 points or 0.04% to 7997 near 6am AEST

AUD -0.1% to 66.58 US cents

Bitcoin +1.4% to $US57,885

Dow -0.3%

S&P +0.4%

Nasdaq +0.8%

FTSE -0.8%

DAX -1.0%

CAC -0.2%

Gold +0.3% to $US2514.88 an ounce

Brent oil -3.2% to $US69.52 a barrel

Iron ore -0.8% to $US91.00 a tonne

Media Man

Australian News

Pro Wrestling

August 2024

WWE Raw - Bronson Reed Destroys Seth Rollins with numerous Tsunami's on RAW

All Elite Wrestling - Kyle Fletcher gets a strong promotional push

WWE - Rhea Ripley and Damian Priest are now the Terror Twins; Target Judgment Day

WWE - Grayson Waller and Austin Theory continue to have miscommunications

WWE - Dakota Kai (New Zealand) continues to improve and impress

AEW - "Switchblade" Jay White remains one of the top workers in the promotion and world

Markets And Commodities

August 19, 2024

Australian Dollar: $0.6665 USD (up $0.0055 USD)

Iron Ore Sep Spot Price (SGX): $92.30 USD (down $1.25 USD)

Oil Price (WTI): $76.65 USD (down $1.46 USD)

Gold Price: $2,508.18 USD (up $51.88 USD)

Copper Price (CME): $4.1505 USD (up $0.0100 USD)

Bitcoin: $59,792.97 USD (up 0.64% in last 24 hours)

Dow Jones: 440,659.76 (up 96.70 points on Thursday's close)

Media/Entertainment: Australia

TV Week Logie Awards 2024

Winners

Gold Logie Award for Most Popular Personality on Australian Television - Larry Emdur

Best Drama Program - RFDS, Seven Network

Best News or Public Affairs Presenter - Ally Langon, A Current Affair, Nine Network

Best Comedy Entertainment Program - Have You Been Paying Attention?, Network Ten

Best Lead Actor in a Drama - Felix Cameron, Boy Swallows Universe, Netflix

Beat Scripted Comedy Program - Utopia, ABC

Best Current Affairs Program - Australian Story, ABC

Best Lead Actress in a Drama - Deborah Mailman, Total Control, ABC

Best Sports Coverage - FIFA Women's World Cup 2023, Seven Network

Best Competition Reality Program - MasterChef Australia, Network 10

Best Factual or Documentary Program - John Farnham: Finding The Voice, Seven Network

Best Miniseries or Telemovie - Boy Swallows Universe, Netflix

Best News Coverage or Public Affairs Report - Ben Roberts-Smith: The Truth, 60 Minutes, Nine Network

Best Structured Program - Gogglebox Australia, Foxtel and Network 10

Best Lifestyle Program - Travel Guides, Nine Network

Bert Newtown Award for Most Popular Presenter - Larry Emdur, The Chase Australia and The Morning Show, Seven Network

Best Supporting Actor - Bryan Brown, Boy Swallows Universe

Best Lead Actor in a Comedy - Rob Sitch, Utopia, ABC

Graham Kennedy Award for Most Popular New Talent - Felix Cameron, Boy Swallows Universe, Netflix

Best Supporting Actress - Sophie Wilde, Boy Swallows Universe, Netflix

Best Children's Program - Bluey, ABC

Best Entertainment Program - The Voice Australia, Seven Network

Best Lead Actress in a Comedy - Kitty Flanagan, Utopia, ABC

UFC 305

RAC Arena
Perth, Western Australia

Dricus du Plessis vs Israel Adesanya - Middleweight Title

Kai Kara-France vs Steve Erceg

Tai Tuivasa vs Jairzinho Rozenstruik

Mateusz Gamrot vs Dan Hooker

Li Jingliang vs Carlos Prates

Junior Tafa vs Valter Walker

Josh Culibao vs Ricardo Ramos

Casey O'Neill vs Tereza Bleda

Jack Jenkins vs Gavin Tucker

Tom Nolan vs Alex Reyes

Song Kenan vs Ricky Glenn

Stewart Nicoll vs Jesus Aguilar

*correct at time of publication

Videos

UFC 305 Embedded: Vlog Series - Episode 1
https://youtube.com/watch?v=bdtnIiKbMoA

Champ Dricus Du Plessis and Israel Adesanya train for their title bout; Steve Erceg walks his dog; Jairzinho Rozenstruik eats after training; Tai Tuivasa arrives in Perth; Carlos Prates hangs out with his mom; Kai Kara-France gets a haircut. (Credit: UFC)

UFC 305 Embedded: Vlog Series - Episode 2
https://youtube.com/watch?v=SExOmPWMKVU

Champ Dricus Du Plessis shows off his belt; The City Kickboxing team trains together; Mateusz Gamrot explores nature; Carlos Prates gets one last cardio session in at home; Steve Erceg hangs out with his parents; Tai Tuivasa has a hard workout session. (Credit: UFC)

UFC 305 Countdown - Du Plessis vs Adesanya
https://youtube.com/watch?v=wLfQ6aHxELY

The UFC 305 Countdown previews the intense rivalry between UFC middleweight champion Dricus Du Plessis and former champ Israel Adesanya ahead of their historic main event, which marks the first time two African-born fighters battle for a UFC title. Don't miss the main card action that kicks off at 10pm ET / 7pm PT on Saturday August 17. (Credit: UFC)

"Cultural roots run deep for the people of Africa. The pride of the nation is echoed through its sporting culture. In recent years the rise of African fighters in the UFC has been clear and present" ... Narrator

Websites

UFC 395
http://ufc.com/event/ufc-305

UFC Official Website
http://ufc.com

UFC YouTube
http://youtube.com/UFC

Media Man: Very solid card. History will be made. Pumped!

Mining, Energy and Resources: Australia and Oceania

August 9, 2024

News

Legal fees for BHP class action top $680m

Law firm Pogust Goodhead is representing about 600,000 participants in a class action over Brazil's Samarco iron ore tailings dam collapse in 2015. The firm estimates that its legal fees could be around Stg250m, while total legal fees arising from the case could exceed Stg350m. Documents filed with the UK's High Court show that BHP's share of the legal costs have been forecast at around Stg108m; however, this is just for the first stage of the trial, and BHP will face a further legal bill if the resources group is found liable for the disaster in Brazil. Samarco is a joint venture between BHP and Vale.

(Roy Morgan Summary)

News

Win for Fortescue in private eye battle

Federal Court judge Brigitte Markovic has dismissed an application by Element Zero's founders to access the instructions that Fortescue gave to private investigators who had been hired to put them under surveillance. Fortescue alleges that its former employees Bart Kolodziejczyk, Bjorn Winther-Jensen and Michael Masterman used its intellectual property to develop Element Zero's rival green steel technology. Justice Markovic ruled that the instructions given to the private investigators are likely to be subject to legal professional privilege.

News

Creasy in talks for Macquarie's $148m debt at miner Calidus

Macquarie Bank has a four per cent stake in Calidus Resources, while it holds $148m of the failed gold producer's debt. Sources have indicated that Macquarie has finalised the terms of a deal to sell its Calidus loan at a price that is at or near its carrying value. The buyer of the debt is believed to be Yandal Investments, the private investment vehicle of Western Australian billionaire Mark Creasy. His deal to acquire Macquarie's debt could give Creasy an edge over other potential bidders for Calidus or its assets, which include the Warrawoona gold project and a 40 per cent stake in the Pirra lithium joint venture.

News

Win for Whitehaven, MACH as court rejects climate bid

The High Court has dismissed the Environment Council of Central Queensland's application for special leave to appeal the Federal Court's decision to allow two NSW coal mine extension projects to proceed. The court had ruled in May that federal Environment Minister Tanya Plibersek had acted lawfully in handling the environmental approvals process for the Whitehaven Coal and MACH Energy projects. The ECCQ had initiated legal action against the proposed mine expansions in 2022.

(Roy Morgan Summary)

Mining, Energy and Resources: Australia and Oceania

August 7, 2024

News

Liontown wants lithium breaks as prices teeter

Association of Mining & Exploration Companies CEO Warren Pearce says it is holding talks with the Western Australian government with regard to royalty relief for lithium producers. The price of spodumene has fallen to $US870 ($1,337) per tonne, and Liontown Resources CEO Tony Ottaviano contends that the government should intervene in order to avert a similar crisis to the rout that hit the nation's industry. He has also suggested that the federal government should expand its production tax credit scheme to include the upstream processing of spodumene.

(Roy Morgan Summary)

News

MinRes job cuts add to thousands lost in WA's mining sector route

A spokesman for Mineral Resources has confirmed that the iron ore and lithium producer will reduce its head count, although the bulk of the job cuts will be at its Perth head office. Mineral Resources has not disclosed the extent of the job losses, although it is believed to be about 100. The move follows the company's recent decision to mothball its high-cost iron ore mines in Western Australia's Yilgarn region and a delay in the expansion of the Wodgina lithium mine. WA's mining sector has already been hit by massive job losses in the nickel industry in 2024.

(Roy Morgan Summary)

News

Iron ore 'must learn from nickel pain'

Dino Otranto, the CEO of Fortescue's mining arm, has warned that Australia risks missing out amid the global shift to 'green' steel'. He has called for increased collaboration between industry and government to ensure that the nation capitalises on the decarbonisation of the steel industry. He adds that the demise of Australia's nickel industry provides a timely warning for iron ore producers.

News

Jilted ERA heads to court over Jabiluka mine axing

Energy Resources of Australia wants the Federal Court to undertake a judicial review of the Northern Territory government's decision to not renew its mining lease for the Jabiluka uranium deposit. ERA contends that it was denied "procedural fairness and natural justice" in the decision to permanently ban mining at Jabiluka. Amongst other things, ERA has questioned the haste with which federal Resources Minister Madeleine King advised the NT government to reject an extension of the mining lease, which is slated to expire on 11 August.

News

Newmont fights $130m 'restructuring' tax bill

The Australian Taxation Office contends that Newmont Corporation owes it some $132.6m in capital gains tax liabilities arising from a restructuring in 2011. The tax dispute is believed to centre on Newmont's decision to consolidate ownership of its local mines under its Newmont Australia subsidiary; this included a transaction in which two of the mining giant's North American subsidiaries sold their holdings in Newmont Australia back to it. Newmont contends that the transfer was an internal restructure rather than a share sale, and it should therefore not attract capital gain taxes

News

Watchdog threatens 'critical' Browse

Woodside Energy's CEO Meg O'Neill has emphasised the importance of the company's Browse LNG project. She contends that Browse is the only gas field of sufficient size to meet the forecast demand for energy over the near-term. The Browse project's future is under scrutiny following a preliminary ruling from Western Australia's Environmental Protection Authority that it presents a "unacceptable risk" to marine ecology. The EPA is expected to make a final recommendation on the project in 2025, although it can be overruled by the federal government. O'Neill has also defended Woodside's deal to acquire a low-carbon ammonia project in the US.

(Roy Morgan Summary)

Media Man Int

Media Man Int X

Elon Musk’s X Files Antitrust Suit Against Global Advertising Alliance

August 6, 2024

Elon Musk’s social media platform X has launched a significant antitrust lawsuit against the Global Alliance for Responsible Media (GARM) and several of its member companies, alleging an illegal ad boycott that targeted the platform. The lawsuit, filed in Texas, is aimed at GARM, its parent firm World Federation of Advertisers (WFA), and members including CVS Health, Mars, Orsted and Unilever.

In an open letter to advertisers, X CEO Linda Yaccarino highlighted the reasons behind the lawsuit, stating that it was a direct response to GARM’s actions which allegedly cost the company billions of dollars. “This is not a decision we took lightly, but it is a direct consequence of their actions,” Yaccarino wrote. “The illegal behavior of these organizations and their executives cost X billions of dollars” per The New York Post.

The lawsuit is seeking trebled compensatory damages and injunctive relief, according to a complaint viewed by The New York Post. GARM, led by Robert Rakowitz, is an initiative of the WFA, which represents many of the world’s largest companies and ad organizations, including Disney and Coca-Cola. Its members control 90% of global marketing spending, nearly $1 trillion per year.

Yaccarino emphasized that the issue extends beyond financial damages. “This case is about more than damages — we have to fix a broken ecosystem that allows this illegal activity to occur,” she added.

According to The New York Post, the suit argues that the boycott undermined the marketplace of ideas by financially harming certain viewpoints over others. (Credit: PYMNTS)

Full article and coverage via PYMNTS

https://pymnts.com/cpi-posts/elon-musks-x-files-antitrust-suit-against-global-advertising-alliance/

PYMNTS is a former Media Man 'Business News Outlet Of The Month' award winner and finalist

News

Elon Musk takes GARM, several companies to court over alleged advertising boycott of X outlined in bombshell report

August 7, 2024

Tech billionaire Elon Musk has taken several companies and an advertising alliance to court over allegations of a "boycott" of X.

Elon Musk has waged “war” against advertisers as his social media platform X filed an antitrust lawsuit against a global ad alliance and several major companies, accusing them of illegally boycotting the site.

X filed a suit in a federal court in Texas against the World Federation of Advertisers (WFA), the Global Alliance for Responsible Media (GARM) and its members CVS Health, Mars, Orsted and Unilever.

The suit comes after a report from the US House of Representatives Judiciary Committee found GARM and its members “directly organised boycotts” and employed other indirect tactics to target disfavoured “platforms, content creators” and news organisations to demonetise them.

It alleges that GARM’s boycott led advertisers to pull money from X under the guise of “brand safety” concerns.

X’s CEO Linda Yaccarino argued this tactic hindered users on the social media platform from accessing a wide breadth of ideas by funding alternative viewpoints.

“The consequence - perhaps the intent - of this boycott was to seek to deprive X’s users, be they sports fans, gamers, journalists, activists, parents or political and corporate leaders, of the Global Town Square,” she wrote.

“To put it simply, people are hurt when the marketplace of ideas is undermined and some viewpoints are not funded over others as part of an illegal boycott.”

Mr Musk shared his colleague’s statement to the platform and boldly declared: “We tried peace for 2 years, now it is war.”

He later encouraged “any company who has been systematically boycotted” to file a suit.

Following his post, video sharing platform Rumble joined Mr Musk’s lawsuit, claiming it has also been impacted towards GARM’s alleged skew away from right wing voices and ideologies.

The platform announced its move on X where it accused GARM of being “a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal”.

Since Musk took over the social media platform in October 2022, X has suffered a serious dive in ad dollars with the platform taking in US$2.5 billion in 2023, according to Bloomberg.

This was down from the US$1bn it was bringing in every quarter of 2022.

Musk triggered controversy again in November 2023 when he endorsed an anti-Semitic conspiracy theory that Jewish communities push “hatred against whites”.

The X owner responded: “You have said the actual truth,” sparking an advertiser exodus that was reported to have lost the company as much as $75m, per The New York Times.

He made headlines again in the same month after blasting advertisers boycotting the social media platform, boldly declaring: “Go f**k yourself”.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he said. (Sky News Australia)

Full article and coverage via Sky News Australia

https://www.skynews.com.au/business/media/elon-musk-takes-garm-several-companies-to-court-over-alleged-advertising-boycott-of-x-outlined-in-bombshell-report/news-story/7bac6243aada770042d14ca84afc23e7

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Market, Commodities and Financial News Snapshot via Media Man

August 7, 2024

Australian Dollar: $0.6520 USD (up $0.0024 USD)

Iron Ore Sep Spot Price (SGX): $102.85 USD (down $0.70 USD)

Oil Price (WTI): $72.96 USD (down $1.02 USD)

Gold Price: $2,389.45 USD (down $19.96 USD)

Copper Price (CME): $4.0095 USD (up $0.0085 USD)

Bitcoin: $56,485.71 USD (up 3.10% in last 24 hours)

Dow Jones: 38,997.66 at 5.02pm NY time (up 294.39 points on yesterday's close)

(Roy Morgan Summary)

The Australian Financial Review - Media and Marketing

News Corp puts Foxtel up for sale after asset review

By Sam Buckingham-Jones

August 9, 2024

News Corp, the publishing and broadcast giant controlled by the Murdoch family, has put its majority-owned Australian pay television platform Foxtel up for sale after a nine-month strategic review of its assets.

Outlining its financial results on Friday, News Corp said there was “third-party interest” in Foxtel, which owns a pay TV business, streaming services Binge and Kayo Sports, and aggregation platform Hubbl.

“We are confident in the company’s long-term prospects and are continuing to review our portfolio with a focus on maximising returns for shareholders,” News Corp chief executive Robert Thomson said.

“That review has coincided recently with third-party interest in a potential transaction involving the Foxtel ... We are evaluating options for the business with our advisors in light of that external interest.”

News Corp owns 65 per cent of Foxtel, and Telstra owns the rest.

Foxtel has spent the past decade pivoting to the streaming era, building Kayo and Binge – which have much leaner profit margins – while preserving its legacy base of around 1 million subscribers who pay, on average, $90 a month. It has grown its total paying subscription base to 4.7 million people.

Any sale of Foxtel would have a flow-on effect on long-term content deals, multi-billion dollar sports rights packages, and more.

Mr Thomson told analysts that News Corp had a “significant overture that we are naturally assessing”, but declined to provide further details.

“We have full faith in the potential of Foxtel and the talented team at Foxtel,” he said. “On behalf of shareholders, we have to evaluate any interest … You’ll have to stay tuned. Not indefinitely, not perpetually, not ad infinitum.” (Credit: The Australian Financial Review) @FinancialReview

Full article via subscription to The Australian Financial Review

https://www.afr.com/companies/media-and-marketing/news-corp-puts-foxtel-up-for-sale-20240809-p5k0yv

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ASX to fall as investors await big tech earnings

July 22, 2024

Futures pricing suggests that Australian equities will shed about 0.8 per cent when the market opens on Monday, following a negative lead from Wall Street. A dearth of local economic data means that investors will be focused on offshore markets over the coming week; the quarterly reporting season in the US is likely to attract scrutiny, with two of the seven major technology companies set to release their latest financial results in coming days. The S&P/ASX 200 fell 0.8 per cent to 7,961.6 points on Friday.

(Roy Morgan Summary)

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Lithium stocks targeted by short sellers

Australian Securities & Investments Commission data has revealed that seven companies on the ASX had more than 10 per cent of their shares reported as shorted as at 12 July, compared to just one in the previous year. Companies involved in the mining of lithium and other materials used in the manufacture of electric vehicles account for seven of the 10 most shorted stocks on the ASX, with 21.06 per cent of Pilbara Minerals shares reported as shorted. Oscar Oberg from Wilson Asset Management says Pilbara Minerals' reported short position is unheard of; he adds that Pilbara Minerals is being shorted because demand for electric vehicles is not as strong as had been forecast.

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Mortgage cliff turns into a subsiding wave

PEXA Group's chief economist Julie Toth believes that the rush for Australians to refinance their mortgage loans has peaked. She adds that rather than a 'mortgage cliff', the nation has experienced only a 'wave' as borrowers have shifted their loans to variable interest rates after their fixed-loan period expired. Toth adds that there has been a slight increase in mortgage arrears and distressed sales in response to the Reserve Bank's aggressive monetary policy tightening cycle; she expects arrears to remain stable if there are no more interest rate increases.

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CSR's insulation price rise 'could be gouging'

Insulation distributor Consolidated Energy alleges that building materials group CSR misused its market power to 'gouge' suppliers with huge increases in the price of insulation; it is seeking internal documents and board papers in order to prove its claim. Consolidated Energy is asking the Federal Court to grant its request that CSR be required to hand over information relating to price increases between June 2021 and June 2022; Consolidated Energy alleges that CSR was limiting supply to distributors and imposing big price increases in order to benefit its own business.

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Coal boss: use gas to ease the transition

Data from the Australian Energy Market Operator has revealed that no renewable energy project that was in the commissioning stage reached full output in June. This was despite an increase in renewable energy projects being ready to come online, prompting calls from Delta Electricity CEO Richard Wrightson for gas to be included in the federal government's Capacity Investment Scheme. With Delta being the owner of the Vales Point coal plant in NSW, Wrightson says gas is the only technology available now that can solve the firming problem, but it is the only technology that is being supported by the government's scheme.

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Fortescue now marching 'to the one beat'

July 20, 2024

(Roy Morgan Summary)

Andrew Forrest surprised investors at its 2020 AGM when he outlined a vision for the iron ore mining company that would see it become a green energy behemoth. He said Fortescue would be targeting production of as much as 235 gigawatts or renewable energy, more than five times the capacity of Australia's National Electricity Market at the time. However, Forrest has now conceded it cannot achieve its target of producing 15 million tonnes of green hydrogen a year by 2030 because of soaring energy costs, although he contends Fortescue's green energy dream is still alive. Fortescue will now bring its iron ore and green energy units back together, with Forrest saying that all of the company are "all marching in the same direction, to the same drum beat".

(Roy Morgan Summary)

Commodities News: Gold via Media Man and FxPro

July 7, 2024

Weakness in gold's growth

Gold has lost 0.9% since the start of Monday, almost back to the point where it was trading before the release of jobs data on Friday. Perhaps the very first market reaction to the data release highlighted the mindset of key market participants: they are ready to sell.

Gold has been on an upward trend since the last few days of June, leading the price up 4% to $2390 at its peak on Friday. This can largely be attributed to the dollar's 1% decline, as gold often moves with a higher amplitude.

Weak employment figures also pushed up the gold price on Friday, leading to a weaker dollar and bringing the start of rate cuts closer. However, we note the momentum of the 0.8% decline in gold in the first moments after publication.

The subsequent market reaction was a "worse is better" style: the weakness in the labour market increased expectations of a rate cut soon, which boosted risk appetite. But this is a very unsustainable play, as not all the negativity in the macro economy is disinflationary. Just the opposite, we saw confirmation of wage growth (4.1% y/y) above inflation (3.3% y/y). At the same time, the previous months' hiring figures were revised downward, and the unemployment rate reached a 31-month high.

Thus, the economic situation is deteriorating faster than inflation is slowing. A key rate cut, in this case, would be an attempt to support economic growth rather than remove excessive tightness in monetary policy. That is, the chances of a cut for "bad" reasons rather than good ones are growing, which is negative for risk appetite in the medium term.

On the charts, gold has so far hit resistance at $2390, which also caused a local reversal in April. Further improvement in risk appetite in global financial markets cannot be ruled out and may be helped by the reporting season. Gold's ability to gain strength above $2390 could serve as an important price signal, heralding a fresh assault on historical highs near $2450.

However, we see more chance of further pressure on the gold price. We see the 50-day moving average at $2340 as the first signalling point. If this line is stormed without bullish resistance, the price could quickly retreat to the $2300 area, which is crucial for determining the dynamics for the coming months. A fall below it would be seen as a break of the bullish trend since October when the Fed first signalled its willingness to cut rates.

Markets and Commodities

July 9, 2024

Australian Dollar: $0.6735 USD (down $0.0003 USD)

Iron Ore Aug Spot Price (SGX): $108.75 USD (down $1.50 USD)

Oil Price (WTI): $82.30 USD (down $0.86 USD)

Gold Price: $2,358.93 USD (down $32.66 USD)

Copper Price (CME): $4.6035 USD (down $0.0645 USD)

Bitcoin: $56,215.84 USD (down 1.75% in last 24 hours)

Dow Jones: 39,344.79 (down 31.08 points on Friday's close)

(Roy Morgan Summary)

Economic conditions (including inflation and prices) are the biggest challenge facing Australian farmers

A special Roy Morgan survey of Australian farmers shows a majority of farmers (57%) say the biggest challenge they are facing is economic conditions (including inflation/prices), up 8% points from a year ago and up a large 22% points from 2022.

In a clear second place is Government policy mentioned by 23% of farmers, almost doubling from a year ago (up 11% points from 2023) and up by 17% points from 2022. Over the last two years Government policy has increased from equal fifth to a clear second place in the list of challenges.

Staffing issues, including finding sufficient labour for their farms, are the third most prominent issue and mentioned by 18% of farmers as the biggest challenge they face, up 5% points from a year ago.

Filling out the top five issues were weather, mentioned by 16% of farmers, business viability, also at 16% and somewhat surprisingly, climate change, mentioned by only 7% of farmers and down from a year ago.

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Euro, Gold, Crypto and more via Media Man and FX Pro

A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

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Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is insoluble in nitric acid alone, which dissolves silver and base metals, a property long used to refine gold and confirm the presence of gold in metallic substances, giving rise to the term 'acid test'. Gold dissolves in alkaline solutions of cyanide, which are used in mining and electroplating. Gold also dissolves in mercury, forming amalgam alloys, and as the gold acts simply as a solute, this is not a chemical reaction.

A relatively rare element,[6][7] gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy. Gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after the Nixon shock measures of 1971.

In 2020, the world's largest gold producer was China, followed by Russia and Australia.[8] A total of around 201,296 tonnes of gold exists above ground, as of 2020.[9] This is equal to a cube with each side measuring roughly 21.7 meters (71 ft). The world consumption of new gold produced is about 50% in jewelry, 40% in investments and 10% in industry.[10] Gold's high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion-resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, production of colored glass, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine. (Wikipedia)

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In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.

Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory.

Hard and soft commodities

Soft commodities are goods that are grown, such as wheat, or rice.

Hard commodities are mined. Examples include gold ,silver, helium, and oil.

Energy commodities include electricity, gas, coal and oil. Electricity has the particular characteristic that it is usually uneconomical to store, and must therefore be consumed as soon as it is produced.

(Wikipedia)

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Euro, Gold, Crypto and more via Media Man and FX Pro

A strong current account surplus may not help euro

The eurozone's current account surplus climbed to a six-month high of 31.9bn in December. Analysts, on average, had expected a decline to 20.3 bn from 22.5 bn the previous month. The current level was seen in the eurozone during the relatively benign pre-Covid period and sometime before Natural Gas prices spiked in the second half of 2021.

The normalisation of the surplus is good news for the single currency, as it means more net capital inflows into the region. But this growth has been fuelled by falling imports, which can be the result of lower commodity and energy prices (which is a very good thing), but also partly indicative of a slowdown in domestic demand. This threatens to translate into economic contraction in the coming months.

The euro area experienced periods of severe import contraction in late 2008 and early 2010, and in both cases, the economy experienced a severe downturn. Back in 2008, all this was accompanied by the collapse of the euro.

Gold

Gold rises but within a downward channel

Gold rallied for the fourth consecutive session to reach $2023, recovering almost all the losses suffered the week before on the back of the inflation report. Gold's ability to rally suggests continued domestic demand, as some investors are clearly rushing to buy back any losses.

At the same time, however, we note that since the beginning of the year, gold has been characterised by solid selloffs on the news, forming a smooth downtrend. In the context of this downtrend, a rise to $2040-2045, which is the upper boundary of the bearish range, looks quite acceptable.

The area around $2035 - the highs of two weeks ago - also appears to be a crucial intermediate level. Confident buying from this level would be the first important signal that the recent correction is over and that gold is ready to make a fresh assault on the highs.

Much more important, however, will be the behaviour of gold as it approaches the $2050 level, where the reversal of the decline in late January took place.

Consolidation at this level would confirm the breakdown of the downtrend and set the stage for a move towards $2100 and the subsequent renewal of historic highs.

However, as long as gold is trading within the downtrend, there is a greater chance of a breakdown or even an acceleration of the downtrend.

Among the fundamental factors, the potential for growth could be provided by the fall in the dollar if Fed officials show a softening of their position, bringing the start of interest rate cuts closer.

On the bearish side, equities could come under pressure following the optimistic rally in the tech giants and the news of a sharp slowdown in economic activity. We also do not rule out the possibility that the recent support measures for the Chinese stock market and property sector will cool demand for gold as a safe-haven for investors from that part of the world.

Cryptocurrency

Crypto market growth halted amid capital inflows

Market picture

The crypto market has corrected 0.46% in the last 24 hours, fluctuating within a narrow range without a clear direction. Bitcoin is down 1% but up 3.7% over seven days, Ethereum is flat for the day but up 10.6% over the week. The top coins are mixed with BNB +2% and Solana -2.5%.

Bitcoin is currently drawing its fourth daily candle with opening and closing levels close to each other. Such sideways consolidations are characteristic of strong bull markets, as opposed to corrective pullbacks on smoother rallies.

Ethereum hit local highs on rumours of a positive regulatory decision before the end of March. Bloomberg analyst James Seyffarth bet 4 ETH that the SEC will not approve a spot Ethereum ETF next month.

According to data from CoinShares, investment in crypto funds rose by a record $2.452 billion last week, following inflows of $1.116 billion the previous week.
Bitcoin investments increased by $2.424 billion, Ethereum by $21 million, Cardano lost $6 million, and Solana lost $1.6 million.

Since the beginning of the year, crypto funds have seen inflows of an impressive $5.2 billion, with total AUM rising to $67 billion, the highest since December 2021.

News background

Bitcoin will see institutional support in the next three to six months, according to Coinbase. Bitcoin ETFs could eventually become a major competitor to gold funds.
According to IntoTheBlock, there is an 85% chance that Bitcoin will reach a new all-time high within the next six months. Five factors could contribute to this: the halving of the price, ETFs, monetary easing, the US election, and companies accumulating BTC as part of their treasuries.

Former CIA contractor Edward Snowden, who has been living in Russia since 2013, called bitcoin the most significant achievement of the financial system in the entire existence of money and means of exchange.

Amberdata admitted that Ethereum will outpace Bitcoin in terms of growth due to more constructive deflationary policies. The supply of ETH has been decreasing since September 2022, thanks to the update of The Merge, as well as the implementation of a mechanism to burn part of the commissions. During this time, around 0.36 million ETH, or 0.3% of the total supply of 120 million coins, have been removed from circulation.

Via Roy Morgan Research and Media Man social media

Copper, gold, and Bitcoin rise; Iron ore and oil fall; ASX to fall in response to selling on Wall Street; US vetoes Arab-backed UN resolution demanding ceasefire in Gaza; Assange's lawyers warn that he risks 'flagrant denial of justice' if he is tried in US

Latest updates on Key Economic Indicators

21 February 2024

Roy Morgan Summary

Australian Dollar: $0.6550 USD (up 0.0011 USD)
Iron Ore Mar Spot Price (SGX): $120.85 USD (down $6.40 USD)

Oil Price (WTI): $78.27 USD (down $1.02 USD)

Gold Price: $2,024.37 USD (up $6.43 USD)

Copper Price (CME): $3.8595 (up $0.0465 USD)

Bitcoin: $52,059.35 (up 0.35% in last 24 hours)

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family".

Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.: 38,582.12 at 3.22pm NY time (down 45.87 points on Friday's close)

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

21 February 2024

Roy Morgan Summary

From 2025, Roy Morgan will provide Austrade with the world's best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia's tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

Anti-mining PM pushes BHP's cash offshore

Roy Morgan Summary

It is somewhat hypocritical of the federal government to flag possible support for Australia's nickel industry, given that Labor's anti-mining legislation may jeopardise the expansion of BHP's copper operations in South Australia. BHP is still likely to proceed with an expansion, but the previously touted investment of between $10bn and $15bn is now only a 50 per cent chance. The new labour laws in the government's industrial relations reforms mean that BHP is now more likely to redirect much of this capital investment to its criticals minerals projects in other countries; rival miner Rio Tinto is already doing this.

More than 2.7 million New Zealanders now read newspapers and magazine audiences surge to over 1.7 million

21 February 2024

Roy Morgan has released its readership results for New Zealand's newspapers and magazines for the 12 months to December 2023. The data shows that 2.73 million New Zealanders aged 14+ (64.4%) now read or access newspapers in an average 7-day period via print or online (website or app) platforms. In addition, 1.71 million New Zealanders aged 14+ (40.3%) read magazines, whether in print or online either via the web or an app. The New Zealand Herald is still the nation's most widely-read publication, with a total cross-platform audience of 1,720,000 in the 12 months to June 2023 - almost five times as many as the second placed Dominion Post with a readership of 341,000. Meanwhile, New Zealand's most widely read magazine is still the driving magazine AA Directions, which had an average issue readership of 379,000 during the year to December (an increase of 63,000 on a year ago).

These are the latest findings from the Roy Morgan New Zealand Single Source survey of 6,254 New Zealanders aged 14+ over the 12 months to December 2023.

New report reveals Roy Morgan is one of Australia's leading data companies - with in-depth information on millions of Australians based on their Helix Personas

Market Research Update

20 February 2024

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians. One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

Roy Morgan Summary

Roy Morgan leads the way as one of Australia's leading data companies. A special in-depth report into Australia's leading data companies interviewed Roy Morgan CEO Michele Levine and Executive Chairman Gary Morgan about the role the company plays in compiling data and building profiles of different Australians.

One of Roy Morgan's key products is 'Helix Personas' which profiles people under headings such as "young and platinum", "smart money", "cautious conservatives", "fair go", "working hard" and nearly 50 other personas. For example, the "young and platinum" group love their mobile devices and are "always on the hunt for the shiny, new and cool" and "making the rent". Their income is around the $64,000 a year mark and they can often be found "living a conventional life centred around family". Roy Morgan CEO Michele Levine confirmed that the Helix Personas market segments are based on statistical information, not data from individual people. "It's totally ethical. Unlike Facebook or any of these things, it's not any particular individual", Roy Morgan's chief executive Michele Levine, said.

(Credit: Roy Morgan Research)

Media Man

Warrner Bros

Profile

In 2010, the Warner Bros. Pictures Group broke the all-time industry worldwide box office record with receipts of $4.814 billion, which surpassed the prior record of $4.010 billion (set by the Studio in 2009). Warner Bros. also established a new industry benchmark for the international box office with a total of $2.93 billion (marking a record third time of crossing the $2 billion threshold) and retained its leading domestic box office ranking with receipts of $1.884 billion. 2010 also marked the 10th consecutive year Warner Bros. Pictures passed the billion dollar mark at both the domestic and international box offices. Warner Home Video was, once again, the industry’s leader, with an overall 20.6 percent marketshare in total DVD and Blu-ray sales. The companies comprising the Warner Bros. Television Group and Warner Bros. Home Entertainment Group remain category leaders, working across all platforms and outlets, and are trendsetters in the digital realm with video-on-demand (transaction and ad-supported), branded channels, original content, anti-piracy technology and broadband and wireless destinations.

The Warner Bros. Pictures Group brings together the Studio’s motion picture production, marketing and distribution operations into a single entity. The Group, which includes Warner Bros. Pictures and Warner Bros. Pictures International, was formed to streamline the Studio’s film production process and bring those businesses’ organizational structures in line with Warner Bros.’ television and home entertainment operations.

Warner Bros. Pictures produces and distributes a wide-ranging slate of some 18-22 films each year, employing a business paradigm that mitigates risk while maximizing productivity and capital. Warner Bros. Pictures either fully finances or co-finances the films it produces and maintains worldwide distribution rights. It also monetizes its distribution and marketing operations by distributing films that are totally financed and produced by third-parties. The Studio’s 2011 slate includes “Sucker Punch,” “The Hangover Part II,” “Green Lantern,” “Harry Potter and the Deathly Hallows – Part 2,” “Happy Feet 2” and “Sherlock Holmes: A Game of Shadows.”

Warner Bros. Pictures International is a global leader in the marketing and distribution of feature films, operating offices in more than 30 countries and releasing films in over 120 international territories, either directly to theaters or in conjunction with partner companies and co-ventures.

New Line Cinema, part of Warner Bros. Entertainment since 2008, coordinates its development, production, marketing, distribution and business affairs activities with Warner Bros. Pictures to maximize film performance and operating efficiencies. Highlights of New Line’s 2011 release slate, distributed by Warner Bros., include “Horrible Bosses,” “Final Destination 5,” “A Very Harold & Kumar 3D Christmas” and “New Year’s Eve.”

The Warner Bros. Television Group oversees and grows the entire portfolio of Warner Bros.’ television businesses, including worldwide production, traditional and digital distribution, and broadcasting. In the traditional television arena, WBTVG produces primetime and cable (Warner Bros. Television and Warner Horizon Television), first-run syndication (Telepictures Productions) and animated (Warner Bros. Animation) programming, which is distributed worldwide by two category-leading distribution arms/operations (Warner Bros. Domestic Television Distribution and Warner Bros. International Television Distribution).

Among the primetime series produced by divisions of the Warner Bros. Television Group are “Two and a Half Men,” “The Big Bang Theory,” “The Mentalist,” “Mike & Molly,” “Fringe,” “Gossip Girl,” “The Vampire Diaries,” “Nikita,” “The Middle,” “Southland,” “The Closer,” “Rizzoli & Isles,” “Supernatural,” “The Bachelor,” “Pretty Little Liars,” “Randy Jackson Presents America’s Best Dance Crew” and many more. Also produced by the company are first-run syndicated programs such as “The Ellen DeGeneres Show,” “TMZ” and “Extra,” among others, as well as animated shows “Scooby-Doo! Mystery Incorporated” and “Young Justice.”

WBTVG is an innovative leader in developing new business models for the evolving television landscape, including ad-supported video-on-demand, broadband and wireless, and has digital distribution agreements in place with all of the broadcast networks. Internationally, the Studio is one of the world’s largest distributors of feature films, television programs and animation to the worldwide television marketplace, licensing some 50,000 hours of television programming, including more than 6,000 feature films and 50 current series, dubbed or subtitled in more than 40 languages, to telecasters and cablecasters in more than 175 countries.

WBTVG provides original shortform programming for the broadband and wireless marketplace through its Studio 2.0 digital venture, and its digital media sales unit is devoted specifically to multiplatform domestic advertiser sales for both broadband and wireless. WBTVG continues its strategic expansion into digital production and distribution with the launch of several advertiser-supported entertainment destinations, including TheWB.com, a premium, video-on-demand interactive and personalized network and KidsWB.com, a premium destination built around youth-oriented immersive entertainment.

The final component of WBTVG is broadcasting: The CW Television Network, launched (in partnership with CBS) in September 2006 with quality, diverse programming, is targeted to the 18–34 audience.

Warner Bros. Animation’s combined classic and contemporary library currently boasts 14,000 animated episodes and shorts which air on domestic broadcast networks, as well as cable networks and in direct-to-video releases around the world. The classic library includes such brands as Looney Tunes, Merrie Melodies, Hanna-Barbera and Ruby-Spears as well as such beloved characters as Bugs Bunny, Daffy Duck, Sylvester, Tweety, Taz, Tom and Jerry, Popeye, Batman, Superman, the Flintstones, the Jetsons and Scooby-Doo.

Warner Bros. Home Entertainment Group brings together Warner Bros. Entertainment’s home video (Warner Home Video), digital distribution (Warner Bros. Digital Distribution), interactive entertainment/videogames (Warner Bros. Interactive Entertainment), direct-to-consumer production (Warner Premiere), technical operations (Warner Bros. Technical Operations) and anti-piracy (Warner Bros. Anti-Piracy Operations) businesses in order to maximize current and next-generation distribution scenarios. WBHEG is responsible for the global distribution of content through DVD, electronic sell-through and transactional VOD, and delivery of theatrical content to wireless and online channels. It is also a significant worldwide publisher for both internal and third party videogame titles.

In 2010, Warner Home Video dominated the U.S. market as the number one company in total sell-through video (DVD and Blu-ray combined) with 20.6% marketshare, theatrical catalog, TV on DVD, non-theatrical family and animation, Blu-ray and VOD. WHV has been the number one studio in overall DVD sales 14 consecutive years, and is also the leading studio in the international home video space.

With more than 3,700 active licensees worldwide, Warner Bros. Consumer Products licenses the rights to names, likenesses and logos for all of the intellectual properties in Warner Bros. Entertainment’s vast film and television library. With a global network of offices and agents in key regions throughout the world, including North America, Latin America, Asia and Europe, WBCP maintains an ongoing commitment to expand and build the power of its core brands’ recognition in the international marketplace through strong and creative merchandising, promotional marketing and retail programs.

DC Entertainment’s DC Comics has been in continuous publication for more than 60 years, and is the leading comic book publisher in the industry and the creator of some of the world’s most recognized icons. DC’s characters continue to headline blockbuster feature films, live-action and animated television series, direct-to-video releases, collectors’ books, online entertainment, digital publishing, countless licensing and marketing arrangements and, most recently, graphic novels. DC continues to attract new readers and fans all over the world with its signature characters Superman, Batman, Wonder Woman and Justice League leading the way.

Warner Bros. International Cinemas provides a true state-of-the-art movie experience to audiences in Japan with more than 60 multiplex cinemas and more than 600 screens internationally. One of the pioneers in multiplex development for the international marketplace, WBIC is continually exploring new markets for expansion. (Credit: Warner Bros. Entertainment)

Press Release

09 August 2010

MICROGAMING SET TO LAUNCH THE LORD OF THE RINGS™: THE FELLOWSHIP OF THE RING ONLINE VIDEO SLOT GAME

First Title to Utilize Proprietary Cinematic Spins™ Technology Allowing Players to Experience the Film with Every Spin

ISLE OF MAN – Microgaming today announced the imminent launch of a new flagship game, The Lord of the Rings: The Fellowship of the Ring Online Video Slot Game. This slot game is the first to utilise Microgaming’s new Cinematic Spins™ technology, allowing gamers to see clips from the films with every spin.

The Lord of the Rings: The Fellowship of the Ring is a new online slot game that is part of a multi-year licensing agreement Microgaming signed with Warner Bros. Digital Distribution in 2009. The company is developing a series of cutting-edge, graphic rich video slots based on this popular movie trilogy and will use animation material, themes, and characters, from the trilogy of The Lord of the Rings™ motion pictures that include The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers and The Lord of the Rings: The Return of the King. These online slot games will be available to adults only in countries where online gaming is permitted.

The Lord of the Rings: The Fellowship of the Ring is the first online video slot to use Microgaming’s Cinematic Spins™ state-of-the-art gaming technology. This allows movie clips to act as moving backgrounds behind the reels during spins providing players an unprecedented level of excitement and immersion.

Win sequences and expanding wilds also use cinematic clips, instead of traditional animated graphics. The slots feature famous scenes from the film including Ringwraiths during the attack at Weathertop, Balrog in the Mines of Moria, and Uruk-hai in the woods of Middle-earth. Players will also enjoy seeing characters from the films that include Frodo, Aragorn, Saruman and the deadly Black Riders.

Roger Raatgever, CEO Microgaming comments: “Microgaming has always been ahead of the curve with innovative offerings, but this game really does push the boundaries of what an online slot can do. The Lord of the Rings: The Fellowship of the Ring looks and feels like an extension of the big screen film experience and we’re confident that our operators will see a great deal of demand from their players, when the game is released. This is an important deal for Microgaming and highlights our commitment to partner with the right brands, at the right time. The Lord of the Rings is one of the most successful and well loved brands on the planet and we are excited about combining this widespread appeal with Microgaming’s groundbreaking software.”

The Lord of the Rings Trilogy generated $3 billion in worldwide box office receipts and was nominated for a total of 30 Academy Awards®; of which they won 17, including Best Picture.

- Ends -
Notes to editors:
*Cinematic Spins is a trademark held by Microgaming

© 2010 New Line Productions, Inc. All rights reserved. The Lord of the Rings: The Fellowship of the Ring, The Lord of the Rings: The Two Towers, The Lord of the Rings: The Return of the King and the names of the characters, items, events and places therein are trademarks of The Saul Zaentz Company d/b/a Middle-earth Enterprises under license to New Line Productions, Inc.

For further information please contact:
Duncan Skehens / Laura Moss/ Lyndsay Haywood
Lansons Communications
020 7490 8828
DuncanS@lansons.com / LauraM@lansons.com / LyndsayH@lansons.com
Warner Bros. Digital Distribution

Peter Binazeski
818-977-5701
peter.binazeski@warnerbros.com
About Microgaming (www.microgaming.com)
Since the company developed the first true online Casino software over a decade ago, it has led the industry in providing innovative, reliable gaming solutions. Thanks to an unrivalled R&D programme, that averages 60 games per year and a unique ‘partnership’ approach to working with operators; Microgaming software powers over 160 market-leading online gaming sites.
The company’s front and back-end software supports multi-player, multi-language games - over 500 of them, all uniquely branded and provides platforms for land-based and wireless gaming. Microgaming powers the world’s largest Progressive Jackpot Network and has paid out over €265million. In May 2009 it created the biggest ever online jackpot winner with a single payment win of €6.37m.

As a founding member of eCOGRA, Microgaming is at the forefront of an initiative focused on setting the highest standards in the gaming industry, and leads in the areas of fair gaming, responsible operator conduct and player protection. Microgaming has been awarded eCOGRA’s Certified Software Seal following a rigorous onsite assessment to ensure that the development, implementation and maintenance of the software is representative of industry best practice standards Microgaming licensees are therefore eligible to apply for the eCOGRA Safe & Fair Seal.

About Warner Bros. Digital Distribution
Warner Bros. Digital Distribution (WBDD) manages Warner Bros. Home Entertainment Group's (WBHEG) electronic distribution over existing, new and emerging digital platforms, including pay-per-view, electronic sell-through, video-on-demand, wireless and more. WBDD also oversees the WBHEG's worldwide digital strategy, partnerships in digital services and emerging new clients and business activities in the digital space.

News

2009

With Time Warner sitting on $7 billion in cash, the Marvel deal has ignited rumours of a second wave of consolidation in the media industry. Dream Works Animation, home of Shrek, is seen as a potential takeover candidate, as is MGM with its huge library of classic films. The games firms Electronic Arts and Take Two Interactive, with its Grand Theft Auto franchise, are also being touted as potential buys.

Profile

Warner Bros. Entertainment, Inc. (also known as Warner Bros. Pictures, or simply Warner Bros.) is one of the world's largest producers of film and television entertainment.

It is a subsidiary of Time Warner, with its headquarters in Burbank, California and New York City. Warner Bros. has several subsidiary companies, including Warner Bros. Studios, Warner Bros. Pictures, Warner Bros. Interactive Entertainment, Warner Bros. Television, Warner Bros. Animation, Warner Home Video, TheWB.com and DC Comics. Warner owns half of The CW Television Network.

Founded in 1918 by Jewish immigrants from Poland, Warner Bros. is the third-oldest American movie studio in continuous operation, after Paramount Pictures, founded in 1912 as Famous Players, and Universal Studios, also founded in 1912.