WiseTech Shares Increase After Board Changes

WiseTech Global's shares have gone up after the company announced changes to its board.

The company's founder, Richard White, will step down as chair but will remain on the board.

A new independent chair, Raelene Murphy, has been appointed to the board.

The changes come after allegations of human trafficking were made against Richard White, which he denies.

The company's shares have increased by 9.1% after the announcement.

The Australian dollar has briefly stopped its four-week losing streak against the US dollar.

The dollar is now above 69 US cents after a weaker than expected US jobs report.

The report has reduced expectations of a US rate rise, which has helped the Australian dollar.

However, the dollar is expected to go down to around 67 US cents if the Reserve Bank of Australia cuts interest rates next year.

The global AI boom is continuing to dominate markets, with South Korean chipmaker SK Hynix launching a US share sale.

Microsoft has announced it will cut around 4,800 jobs, which is about 2.1% of its global workforce.

Oil prices have settled around pre-Iran war levels, which has helped to slow the increase in services inflation.

The US services sector activity has dipped, but employment has rebounded after contracting for three straight months.

The Federal Open Market Committee will release its minutes on Wednesday, which may give clues about future interest rate moves.

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