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The drops for big tech stocks also pulled the Nasdaq composite down 2 per cent from its own record.

ASX hits record high; CBA eclipses BHP as Australia’s biggest company

The Australian sharemarket climbed to a record high after four out of every five stocks that comprise the benchmark S&P 500 Index advanced on Wall Street overnight.

  • Millie Muroi

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Former Telstra boss David Thodey has been named Sydney University’s next chancellor.

Former Telstra boss David Thodey named new Sydney University chancellor

Thodey is best known as the former boss of the telco giant and currently chairs Ramsay Health Care and technology company Xero.

  • Daniella White
Wall Street has had a mixed start to the week.

Healthcare companies, wage data lift ASX after Wall Street gain

The Australian sharemarket climbed on the back of healthcare companies after a set of strong results from some of its biggest players and softer wage data.

  • Millie Muroi
Street Talk.

ASX lifts as miners muscle up; Biden boosts Wall Street

Wall Street rallied after President Joe Biden said he was confident the US would not default on its debt. This helped lift the ASX out of a three-day slump.

  • Millie Muroi
Canva founders Cameron Adams, Cliff Obrecht and Melanie Perkins.

‘We’re really well insulated’: Canva to escape tech carnage

The company’s bosses say it is in a unique position to avoid fallout from the tech purge that has claimed about 150,000 jobs worldwide so far this year. 

  • Colin Kruger
Wall Street is mixed in early afternoon trade.

Tech bolsters ASX after Fed chief soothes Wall Street

The Australian sharemarket stayed in the green on Thursday, helped by the IT sector after one of the country’s largest tech companies announced staff cuts. Myer shares soared.

  • Millie Muroi
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Xero CEO Sukhinder Singh Cassidy said the job cuts were “difficult but necessary steps”.

Xero axes up to 800 jobs as tech downturn deepens

The accounting software maker is the latest big technology firm to slash positions, following Atlassian this week.

  • Nick Bonyhady and Millie Muroi
Xero CEO Steve Vamos said the company’s app store is a key strategic element of its platform growth.

Xero invests in apps, AI and acquisitions as global push continues

Cloud accounting platform Xero is leaning into machine learning and the app economy to drive growth and value among its small business customers.

  • Tim Biggs
Xero chief executive Steve Vamos said he believes small businesses will be a driver of economic growth post pandemic.

Xero chief dismisses slowing revenue growth concerns

Xero chief executive Steve Vamos has dismissed concerns about slowing revenue growth at the ASX-listed cloud accounting giant.

  • Cara Waters
MYOB chief executive Greg Ellis is leading a move into invoice financing.

MYOB set to move into invoice financing in wake of Greensill collapse

Accounting giant MYOB is pushing into invoice financing, undeterred by the bad invoice-business headlines from the collapse of global financing firm Greensill Capital.

  • Cara Waters

Original URL: https://www.brisbanetimes.com.au/topic/xro-1oo