Unemployment figures out today are expected to show a slight increase, to 5.2%, with analysts predicting a “cooling off” in the jobs market.
Most economists surveyed by Bloomberg said they expect job creation to be flat in June, with the unemployment rate creeping gradually higher throughout the second half of the year.
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ASIC to tighten shareholder rules
The Australian Securities and Investments Commission is reportedly looking to tighten rules that allow investors to gradually build controlling stakes in businesses.
According to The Australian Financial Review, the corporate watchdog is weighing up whether to cap incremental shareholding gains at 1% every six months without launching a takeover bid, down from the current 3% limit once a 19.9% threshold has been hit.
H&M set for Aussie launch
Swedish retail giant H&M is primed to launch in Australia, with the company rumoured to be scouting for locations in Sydney and Melbourne.
According to the Herald Sun, H&M is looking at both the Chadstone Shopping Centre and Emporium in Melbourne. H&M has more than 2,300 stores in 43 countries.
The Dow Jones Industrial Average fell by 48.59 points, or 0.38%, to 12,604.53. The Australian dollar was up to US102.47 cents.