Thu, 13th Mar 2025

This week's finance news wrap includes significant global and local updates. In the US, escalating tariffs initiated by President Trump have led to a dramatic fall in the stock markets, causing significant investor apprehension. The S&P 500 noted a loss of over $1.3 trillion with the Dow Jones and Nasdaq recording substantial losses as well. Meanwhile, in Australia, the Reserve Bank reduced the official interest rate by 25 basis points to 4.1%, triggering a surge in consumer confidence. Despite global trade tensions, Australia's domestic conditions remain positive. Additionally, the Star Entertainment Group plans to manage its extensive debts by raising $940 million in partnership with Salter Brothers Capital. Lastly, the Financial Advice Association Australia is pushing for a reform of the Australian Securities and Investments Commission's grievance probing methods, aiming to enhance transparency, prevent misconduct, ensure consumer protection, and improve business compliance in the financial sector.