Nine takes 9.9pc stake in Southern Cross

The site, in the Sydney north shore suburb of Willoughby, has been home to the Nine Network for 50 years.

Nine Entertainment Co is understood to have taken a 9.9 percent stake in Southern Cross Media Group after Macquarie Group kicked off a selldown of its shareholding in the national radio and regional television group.

Rio Tinto chief executive-elect Jean-S‚bastien Jacques has a focus on cost cutting.

Rio Tinto appoints new CEO

Rio Tinto head of copper and coal Jean-Sébastien Jacques has been named the next chief executive from July.

  • Contains:
  • Video

Myer leads ASX rally

Australian shares rallied, following the Fed's change of tack on its rates outlook with retailers among the top winners.

  • Contains:
  • Video

$A ignores RBA 'jawboning'

The Australian dollar has jumped to an eight-month high, despite the RBA saying it wants a lower exchange rate.

  • Contains:
  • Video