![, Australian Bureau of Statistics](/polopoly_fs/1.2092302.1719973584!/fileimage/httpImage/image.png_gen/derivatives/landscape_140/image.png)
Australia Retail Sales Beat Estimates, Adding to Rate Hike Case
Australian retail sales rose by more than expected in May with spending largely driven by discounts in the face of elevated borrowing costs.
Australian retail sales rose by more than expected in May with spending largely driven by discounts in the face of elevated borrowing costs.
Asian stocks rose after US shares closed at another record high, and Federal Reserve Chair Jerome Powell said inflation was getting back on a downward path.
An activist short-seller, a New York hedge fund, a Mauritius-based investment vehicle and a broker tied to a big Indian bank: All played a role in one of the most-damaging short-seller attacks anywhere in the world.
Oil steadied around a two-month high on signs of a significant drawdown in US crude stockpiles.
Japan issued newly designed banknotes for the first time since 2004 in a move that may provide a small boost to the economy while potentially nudging some cash hoarders to invest money instead of stashing it under the mattress.
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