Wall Street index rises above 7,000 for the first time; SpaceX mulls $1.5tn IPO in June – business live

On Wall Street, the S&P 500 index has gone through the 7,000 mark for the first time, driven by optimism around artificial intelligence and expectations of strong results from big technology companies.The index is now up 29 points just below the 7,000 level. The tech-heavy Nasdaq rose 150 points, or 0.6%, to 23,967 at the open.It took about three years for the S&P 500 to rise to 5,000 points from 4,000, but only about nine months to jump from 5,000 to 6,000, in November 2024

The easy thing for the RBA to do next week is raise rates. The smart move is to wait | Greg Jericho

There is a kind of sickness in Australia’s coverage and discussion about the economy – an obsession that interest rates need to do something. Go up, go down – anything! Unemployment fell, interest rates must do something (apparently fewer people being out of a job is bad and needs to be cured). Oh no, inflation went up in one month – we need interest rates to do something!!We see this as well with investors – or let’s be honest, speculators – who are determined that interest rates will go up next week.Even before the December CPI figures were released, investors were betting (and that is all it is) that there was a 58% chance the Reserve Bank of Australia would increase rates on 3 February:If the graph does not display click hereAfter the figures were released, showing inflation rose from 3.4% in November to 3

US dollar sinks to its lowest level in four years

The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.“No, I think it’s great,” Trump said of the weaker dollar, during a visit to Iowa to promote his record on the economy

How has your local high street changed since 2019? Check your postcode

From department stores to discount shops, bookmakers to beauty salons, the makeup of Britain’s high streets has shifted dramatically since 2019. Shopping-led town centres are giving way to areas increasingly dominated by services, food, and leisure – but the scale and shape of that change varies widely from place to place.The last six years have coincided with a series of shocks to the economy. Lockdowns during the Covid pandemic disrupted footfall and accelerated online retail, while Brexit, energy bill hikes, a cost of living crisis and national changes to wages and employer tax contributions have piled further pressure on both independent businesses and national chains. What remains on Britain’s high streets – and what has disappeared – offers a snapshot of how the country shops, eats and spends its time

Royal Mail delivered Christmas letters and parcels late to about 16m people

Royal Mail has been criticised for offering an “unacceptable” performance over the crucial Christmas period after it failed to deliver letters and cards on time to about 16 million people, Citizens Advice found.The consumer watchdog, which carried out research into Christmas deliveries, said that figure was 50% higher than in 2024, and the highest level over the festive period in five years, excluding when Royal Mail was hit by strike action in the run-up to Christmas four years ago.“We’re afraid there’s no light at the end of the tunnel for consumers struggling with Royal Mail’s persistent delivery failures,” said Anne Pardoe, the head of policy at Citizens Advice. “When people have no other postal provider to choose from, the sheer volume of delays is simply unacceptable.”The research, based on a survey of almost 2,100 adults conducted by Yonder, calculated that 5

The value of the Australian dollar is high right now. So should you book that overseas trip?

In a year of extraordinary global news, and more of it bad than good, it may be surprising that the Australian dollar is proving a world beater.The Aussie has hit some impressive milestones of late: the strongest against the US dollar in nearly two years, the highest against the euro in 10 months, and approaching the strongest in decades against the yen.Ray Attrill, the head of foreign exchange strategy at National Australia Bank, says the Aussie has outperformed every other major currency in 2026.“So far this year it has been a case of there’s nothing not to like about the Australian currency,” Attrill says.It’s been good news for overseas travellers and shoppers looking to buy from overseas websites