CDC eyes AUKUS demand for AI with Perth data centre
The Canberra-based company, in which investors Future Fund and ASX-listed Infratil acquired an additional 12 per cent stake from Commonwealth Superannuation Corporation in February for $2.05 billion, said it would spend $415 million on the first stage of the data centre in Maddington, 20 kilometres south-east of central Perth. The centre will be operational in 2026.
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Sydney Morning Herald
33 minutes ago
- Sydney Morning Herald
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Sydney Morning Herald
33 minutes ago
- Sydney Morning Herald
Wall Street drifts around its records following a worldwide rally
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The Age
33 minutes ago
- The Age
Wall Street drifts around its records following a worldwide rally
US stocks are drifting around their record levels on Wednesday after a rally spurred by hopes for lower US interest rates wrapped around the world. The S&P 500 rose 0.2 per cent, coming off its latest all-time high. The Dow Jones was up 412 points, or 0.9 per cent, while the Nasdaq composite rose 0.1 per cent after setting its own record the day before. The Australian sharemarket is set to jump, with futures at 4.57am AEST pointing to a rise of 33 points, or 0.4 per cent, at the open. The ASX shed 0.6 per cent on Wednesday. The Australian dollar was 0.2 per cent stronger to US65.41¢ at 5.11am. Reporting season continues, with Westpac and Suncorp among those due up on Thursday. Treasury yields eased in the bond market as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for US households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation. Stock indexes jumped in Asia in their first trading after Tuesday's better-than-expected report on US inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong's Hang Seng leaped 2.6 per cent, Japan's Nikkei 225 rallied 1.3 per cent and South Korea's Kospi climbed 1.1 per cent. Indexes also rose in Europe, though the moves were more modest after they already had the chance to trade on the US inflation data the afternoon before. Germany's DAX returned 0.7 per cent, and France's CAC 40 rose 0.7 per cent. Loading On Wall Street, the hopes for lower interest rates are helping to drown out criticism that the US stock market has grown too expensive after its big leap since hitting a low in April. One way companies can make their stock prices look less expensive is to deliver strong growth in profits, and Brinker International became the latest to report stronger results for the latest quarter than analysts expected. The company behind the Chili's brand said it saw more customers coming to its restaurants, and it's also making more profit off each $1 in sales.
