Nine to cut jobs from metro newspaper newsrooms, ASX finishes flat

Nine will cut jobs from newsrooms across The Age, The Sydney Morning Herald, Brisbane Times, and WAtoday.

The Australian share market finished flat for the day, following a negative session on Wall Street.

The ASX 200 finished at 8,793 points at the close of trade, with a rally in tech stocks and gold miners helping to reverse earlier losses.

The Media, Entertainment and Arts Alliance responded to the cuts to publishing jobs at Nine, saying the announcement of further redundancies is devastating for journalists and media workers.

Nine's head of publishing said the company is committed to being transparent and supportive throughout the process, including engaging with the MEAA.

The ASX 200 was down 0.1% to 8,781 points as of 1:10pm AEST, with healthcare and banks keeping the local market lower.

Technology and energy stocks were higher, up 1.6% and 0.6% respectively.

BHP has restarted discussions with Combined Ports Unions representing workers at Western Australia's Port Hedland.

The US dollar may have returned to its traditional safe haven status, according to Deutsche Bank.

A new AI model from Chinese startup Moonshot is putting pressure on Silicon Valley-backed tech titans.

Initial asking prices are falling and homes are sitting for longer as the housing market cools across Australia.

The Board of KPMG Australia has appointed John Sams as Chief Executive Officer, effective immediately.

The action plan noted in the quotes is a 'how we fix it' document and is available here.

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