The Australian sharemarket has rebounded, adding $40 billion in value after a significant downturn on Friday. Near midday AEDT, shares were up 1.6 per cent, with all 11 sectors showing gains. Car Group notably jumped 10 per cent. This follows confirmation that Pepper Money has received a takeover bid from a KKR-led consortium including Challenger.
In other news, Debby Blakey has announced her resignation from her role as chief executive of HESTA, a $100 billion health industry superannuation fund, a position she has held since 2015, becoming a prominent voice in the industry. HESTA is an industry super fund dedicated to people working in health and community services. She is set to depart later this year.
Firmus, a data centre provider co-founded by Oliver Curtis, has secured a substantial $US10 billion debt facility from Blackstone. The funding will be used to develop ‘AI factories’ across Australia. Meanwhile, Qantas aims to generate $1 billion in loyalty revenue by 2030, expanding its frequent flyer program to include premium economy seats on Emirates.
Internationally, Sanae Takaichi’s party secured a super majority in Japan’s election, while in Thailand, a royal-backed prime minister won the election, dealing a blow to reformists.
