Australian markets will open nervously this morning after Wall Street tumbled overnight as fears about a slowing US economy prompt a global stock sell-off.
Guzman y Gomez will be publicly listed on the stock exchange next month in an effort to raise more than $200 million to rapidly expand across the country.
Country Garden warned on Wednesday that it could default on its vast debts as it reported a loss of 51.5 billion yuan ($10.9 billion AUD) for the first six months of the year.
Australian brokering service Openmarkets has been hit with a record $4.5 million fine following a scathing ruling over suspicious trading on its platform and a failure to comply with integrity rules.
A Russian millionaire with ties to the Kremlin was convicted of participating in an elaborate $128 million insider trading scheme using secret and stolen information from companies such as Microsoft.
New York Stock Exchange officials have blamed a "manual error" for the massive price swings and trading halt of hundreds of company stocks that punctuated Tuesday's market open.
The Australian share market has been rattled by fears that the United States is lurching closer to a recession, dropping by 2 per cent in early trade.
According to Credit Suisse's most recent annual Global Wealth Report, 390,000 Australians became millionaires in 2021, bringing the nation's total to 2.18 million.
The fortune of the world's richest family tumbled by US$11.4 billion ($16.4 billion) after US retail giant Walmart cut its earnings forecast for the second time this year.
Stocks closed broadly lower on Wall Street Thursday as JPMorgan Chase opened the latest round of corporate earnings for big banks with weak results and a warning about the economy.
Wall Street tumbled into what's called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20 per cent below its record set early this year.