ASX Shares Dive After US Rival Cboe Challenges Market Dominance
The stock plunged as much as 11% on Thursday, the most since June 2023, after the nation's financial regulator said it was in the final stages of considering a listing market application from Cboe's Australian unit. The move would allow local companies to list on an exchange run by the US rival, threatening to end ASX's local market domination amid ongoing operational concerns.
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Council ditches bid to join iconic tourism strip
A Victorian council has ended a decade-long bid to be included in the renowned Great Ocean Road. The Glenelg Shire Council in far southwest Victoria is blaming state and national marketing campaigns for not including their region. Despite not being on the Great Ocean Road itself, the Glenelg council had been paying $80,000 a year to be part of the Great Ocean Road Regional Tourism Board. In a statement on the council website, posted earlier this month, the council says it is time to cut the chord. 'From 2015, Glenelg Shire Council have been a member of the Great Ocean Road Regional Tourism Board (GORRT),' a spokesperson said. 'Council has found that although GORRT have been strong in their advocacy and attempts to link the Glenelg Shire to the Great Ocean Road, the Glenelg Shire is simply not officially recognised by our state and federal partners as being part of the Great Ocean Road. 'We are regularly omitted from marketing, tourism campaigns and strategies.' The Great Ocean Road generates $1.9bn of economic activity each year, the state government says, creating 9800 local jobs. Tourism Australia launched its new major campaign last week, and the only Victorian location featured was the Twelve Apostles, which is on the western half of the tourism strip. The Glenelg Shire is west of the actual Great Ocean Road, despite paying $80,000 a year to the road's tourism board. Membership gives businesses and organisations access to marketing on tourism websites. 'Council has chosen not to continue with GORRT, instead redirecting the $80,000 per year membership fee to directly invest in tailored opportunities that better align with the unique needs and potential of our region,' the council spokesperson said. The Glenelg Shire will instead focus on promoting its nationally recognised Kelpie Festival, and the UNESCO World Heritage-listed Budj Bim Cultural Landscape; the first place in Australia to be recognised solely for its Aboriginal cultural values. A state government spokesperson said Great Ocean Road Regional Tourism Board was in charge of tourism for the region. 'We will continue to work with Glenelg Shire to encourage visitors to visit southwest Victoria and experience the best of the Great Ocean Road,' the spokesperson said.
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2 hours ago
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Deutsche Bank Raises Albemarle (ALB) Target, Signals Cautious Optimism on Lithium
Albemarle Corporation (NYSE:ALB) is one of the best battery tech stocks to buy right now. On August 4, Deutsche Bank raised its price target for Albemarle from $65 to $74 while keeping a Hold rating. The new target shows they feel a little more positive about the company, but they are still being cautious. A team of scientists in a laboratory observing the sophisticated engineering of specialty chemicals. Albemarle has halted its U.S. lithium refinery project, cut capital spending by 50%, closed its Chengdu plant, shifted Chinese production to carbonate, and began commercial output from its Kemerton facility to counter weak prices and preserve margins. Albemarle Corporation (NYSE:ALB) is a leading producer of lithium, which is used in batteries for electric cars. Because the world is slowly but surely switching to electric vehicles, the need for lithium is growing. That makes the company worth considering for the long term. Even with the price target going up, the expected gain is only about 7%. This is not a big return in the short run. But Albemarle is in a good spot for the future, since more clean energy and battery use are likely coming. Albemarle Corporation (NYSE:ALB) extracts lithium, a vital input for electrochemical storage units powering electric mobility, grid stabilization systems, and portable electronic apparatuses across expanding clean energy and digital ecosystems. While we acknowledge the potential of ALB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 12 Best Performing AI Stocks So Far in 2025 and 10 Best Military Tech Stocks to Buy Now Disclosure: None.
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Family detail that could prevent NRL superstar accepting $7.5 million offer
Tino Fa'asuamaleaui's manager has revealed he'll test the open market when he technically becomes a free agent on November 1, but admitted it will take a lot to pry him away from his family support network in Queensland. The State of Origin star is contracted to the Gold Coast Titans until the end of 2033 on a 10-year deal worth $1.2 million per season. But he has a clause in his contract that allows him to leave at the end of 2027. It means he's free to negotiate with rival NRL clubs on November 1 this year, and that's exactly what he'll be doing. 'We will be testing the market,' Fa'asuamaleaui's manager Simon Mammino told on Sunday, while stressing he's happy on the Gold Coast. 'At this stage, he wants to stay at the Titans, but it's a business and we'll be having a chat to interested parties." The same report states the Perth Bears are preparing a $7.5 million offer that could see Fa'asuamaleaui become the highest-paid player in the game (per season). Mal Meninga's new team are keen to offer the Queensland Maroons star $1.5 million per season for five years. It would take Fa'asuamaleaui past Kalyn Ponga ($1.4m) as the NRL's highest earner per year. 'From November 1, we're allowed to talk to people and I will definitely be having a chat with the Perth Bears," Mammino added. 'In a perfect world, Tino's preference is to stay at the Titans. But whether he does remains to be seen.' Family could keep Tino Fa'asuamaleaui on the Gold Coast Mammino pointed out that Fa'asuamaleaui would be hesitant to move away from family in Queensland. His parents live two hours away in Gympie, while his brother Izack is also a Titans player. Tino's partner Jordy Ngarimu is also a professional athlete with the Titans' netball team, and her parents also live on the Gold Coast. Tino and Jordy have three young kids, meaning they'd be moving away from their support network if they left Queensland. 'It won't be money alone that lures him out because he is already one of the highest paid players in the game,' Mammino said. 'Family is a huge factor. His in-laws live on the Gold Coast, his mum and dad are in Gympie and his brother is at the Titans. His family and support network is all around the Gold Coast area. If he goes to Perth, there's no family support, so Perth will face the same challenges as Melbourne." View this post on Instagram A post shared by JORDAN (@ The fact Fa'asuamaleaui is weighing up an international switch from Australia to Samoa shows how much he values family. And it could hint at good news for Gold Coast Titans fans. RELATED: Raiders rocked as young Canberra star signs with Penrith Panthers Jett Cleary could be handed NRL debut in stunning development Perth Bears figures who could convince Tino to join Fa'asuamaleaui started his career at the Melbourne Storm, but it was Meninga and recruitment boss Ezra Howe who helped convince him to join the Titans. Meninga was the Gold Coast's head of performance and culture at the time, while Howe was the Titans' recruitment manager. Howe recently joined Meninga at the Perth Bears to work as the new franchise's head of recruitment, giving the Bears two big trump cards. "Tino went to the Titans because of Mal Meninga. He has huge respect for him," Mammino revealed. 'That doesn't mean Tino will definitely sign with them (Perth), but Mal and Ezra are huge fans of Tino. Those two aren't there anymore and Tino has developed a real affection for the Gold Coast, but we don't know where the Titans are heading."
