- ASX200 is trading 1.1% higher at 7141 just after midday.
- BetMakers announces $4bn takeover proposal of TAB Wagering & Media.
- BNPL providers offered some RBA relief after no-change news.
The tech sector is trading lower today as Nuix is down 4.23%, Nearmap is down more than 2% and Technology One is currently down 1.62%.
The Australian market soared to a record high 7176.8 for the first time ever just before midday today boosted by strong gains for the materials and mining sectors. Just after lunchtime the key index is trading 1.1% higher at 7141.
Bitcoin is trading relatively flat today, up just 1.15% at US$38,167.68 at 12:35pm AEST.
Australian-based wagering technology and data giant BetMakers has officially proposed a $4bn takeover bid for Tabcorp?s Wagering and Media business. BetMakers feel the proposal is highly valuable for both parties and will create a competitive global wagering and technology platform for B2C and B2B markets. Shares in BetMakers are sinking more than 9% following the news.
Making headlines, the RBA announced it will not make any changes to credit card surcharging rules as the current rules seem to be working, which offers BNPL providers some relief. Under the current rules BNPL providers offer services cheaper to customers as they charge merchants a higher fee that cannot be passed onto customers. The RBA confirmed it is not looking to remove the BNPL no-surcharge rules at this time.
And a job posting by tech giant Apple searching for a ?Business Development Manager for Alternative Payments? has reports circulating that the tech giant is exploring cryptocurrencies and crypto-payment methods.