Business
ASX sinks to five-week low on weak US lead; Tech shares hit again – The Sydney Morning Herald
The Australian sharemarket has extended last week’s losses, with tech, energy, and poperty stocks hit hard in a 0.9% opening fall.
Viva is working with the federal government but says it cannot ignore the fall in demand, which is threatening the viability of all refineries in Australia.
The company is assessing other options to address operating losses, including the possibility of moving to a full shutdown of the facility, it said.
A decision would be made by the next trading update in October. Viva Energy said it has invested more than $600 million in the refinery in the past six years.
Unfortunately, the impacts of …
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