Ventia Services Group (ASX:VNT, NZE:CGF) said Challenger (ASX:CGF) raised its voting power in the firm to 6.24% from 5.03%, as of May 29, according to Tuesday filings with the Australian and New Zealand bourses.
Challenger now holds 51.2 million shares in the firm.
Ventia's shares rose nearly 2% in recent trading on the New Zealand bourse.
Representatives from South Korea and 50 African nations resolved to deepen economic and strategic ties across several fronts, according to a ministry release on Tuesday.The parties mutually agreed to recognize Africa's strategic importance and resolved to deepen ties, according to a joint statement by the foreign ministers and representatives from South Korea and African countries.Meanwhile, South Korea reaffirmed its support for the continent's economic integration efforts through the African Continental Free Trade Area (AfCFTA).The parties will now work to enhance cooperation in several sectors such as food security, agriculture, climate change, health and digital transformation.
South Korea's equity market has overtaken the Indian stock market as the world's sixth largest stock market, according to a report by Bloomberg on Tuesday.The rally is spurred by strong growth in the semiconductor stocks, which have risen due to a global AI infrastructure mass buildout, the report added.Listed companies' market capitalization zoomed 86% year over year to $5 trillion, compared to India's market cap which fell to $4.8 trillion, according to Bloomberg's data.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Australian Fair Work Commission's (FWC) decision to increase the minimum wage will have a very minor direct impact on Westpac's wholesale price index forecast for the third quarter and will not contribute substantially to the inflationary impulse, the bank said in a Tuesday report.The FWC's annual wage review handed minimum award workers a 4.75% increase to pay starting from July, above Westpac's expectation for a 4.25% lift and larger than the 3.50% rise in 2025.The decision will directly affect over 21% of the workforce, with a larger impact on industries that are more reliant on awards, including health care, retail trade, and accommodation and food services, the bank said.The move creates some risk of inflation expectations remaining higher for longer, making the Australian central bank's job more difficult, although a gradual easing in the labor market and a deceleration of the economy will mitigate the risk somewhat, Westpac said."Today's decision for a larger increase in the minimum wage and awards will go some way against protecting more vulnerable workers' wages against the inflation shock, but the outlook is still defined by a weaker economy and labor market, which will limit the bargaining power for many workers," the bank said.