Inflation holds steady | Guzman y Gomez delays IPO | The seven candidates left in the US election

Feb 28, 2024 – 12.06pm

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In today’s news, inflation held steady in January, Mexican-themed restaurant chain Guzman y Gomez pushes back IPO plans, and who are the seven remaining candidates in the US election?

Making news

Inflation slows to 3.4pc in January, cooler than expected Australian shares fall. Perpetual declares 65¢ dividend. RBNZ and rate decision and monthly inflation read ahead. Healius rout extends. Follow updates here.

PM touts tax cut overhaul ahead of byelection Anthony Albanese has spent the morning spruik Labor’s stage three tax cuts changes, the PM has been to a key NATO meeting and Lidia Thorpe disrupts Senate over speaking times. Follow updates here.

Guzman y Gomez pushes back IPO plans as losses widen The Mexican-themed restaurant chain is backed by Barrenjoey and TDM Growth Partners. Global sales soared 30 per cent in the first half of the financial year.

Apollo racks up Aussie mandates in world’s ‘best’ super system Apollo Global Management CEO Marc Rowan says “Australia has done an unbelievable job in accumulation. But that increase can’t be absorbed in Australia.”

Indian envoy backs Australian mining amid nickel turmoil India’s new high commissioner to Australia wants to build on the “reservoir” of goodwill that has built up between Anthony Albanese and Narendra Modi.

First woman to lead Racing NSW after controversial exit Deputy chairman Saranne Cooke was appointed after a difficult period for the governing body, which has faced questions over its governance.

Around the world

McKinsey ‘advised Chinese agencies’ in row over Beijing work The consultancy giant, facing calls to be barred from winning US contracts, said claims it had advised the central Chinese government were “inaccurate”.

Wider Ukraine war ‘inevitable’ if NATO sends troops, Kremlin warns Moscow’s warning comes after France’s Emmanuel Macron opened the door to sending Western forces to the war. But Germany’s leaders poured cold water on the idea.

Apple cancels work on electric car, ending decade-long effort The decision, which Elon Musk welcomed, means the iPhone maker is abandoning one of the most ambitious projects in its history.

The seven candidates left (and why some don’t stand a chance) Will the November vote be a rematch between Joe Biden and Donald Trump? With primaries and caucuses in full swing, and candidates dropping like flies, here’s the lowdown.

Matter of opinion

The very good news that markets are ignoring A reliable indicator of better economic and earnings growth has been flashing for months. It just might help keep the global equity melt-up running, writes James Thomson.

Macron lobs hand grenade into NATO dithering on Ukraine The French president said sending ground troops to Ukraine “must not be ruled out” in a bid to shake up the alliance and send a strong signal to Vladimir Putin, writes Henry Samuel.

Business life

This is the year when reality as we know it ceases to be 2024 is already a huge year for technology, with Apple changing the VR headset game and generative AI redefining the way we use mobile phones.

From the Gold Coast, a luxury motor yacht at technology’s fore A new $3.8 million personal cruiser from top boat builder Riviera is proof of an innovative and thriving industry; the biggest surprise is what lies beneath.

How one woman’s mission to harvest water from the air is changing lives Beth Koigi’s 30 solar-powered atmospheric water generators already produce more than 200,000 litres a month for people facing extreme water scarcity in Kenya. Now Rolex has stepped up to help.