ASX 200 falls; Rinehart looms over SQM-Azure; Scyne returns 78 PwC staff
Bourse at year low. PwC spin-off hit by slump in new work. Billionaire miner Rinehart likely buying up Azure after SQM's $1.6bn bid. First strikes at Woolworths, Whitehaven and APA. Luci Ellis tips Nov rate rise.
Welcome to the Trading Day blog for Thursday, October 26. The ASX 200 index closes down 0.6 per cent at 6812.30 points, led by tech declines. Wall St slumped on Google parent Alphabet's worst one-day loss.
The Aussie dollar is near US62.85c.
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Originally published as ASX 200 falls; Rinehart looms over SQM-Azure; Scyne returns 78 PwC staff
Updates
Coal slump sees electricity prices leap
Record electricity demand and a spate of coal outages that fell as NSW endured hot weather has sent the cost of producing electricity up more than 80 per cent and this threatens to increase bills.
TPG and Optus team up to end Telstra’s ‘bush tax’
TPG chief executive Iñaki Berroeta has declared the telco’s $1.6bn network sharing deal with Optus will double its network ‘overnight’.