The Australian market is trading just under 0.5% lower after lunchtime as a sharp sell off in energy stocks weighs down the key index. Australian-based automotive group RPM Automotive Group announced the strategic acquisition of Safety Dave today to expand the company?s core product offering. A spotlight on Magellan Financial Group as the fund manager is tumbling more than 28% today after confirming it has lost its largest mandate to US fund giant State St Global Advisors. Robot-chefs are ready to hit the market in 2022 after London-based Moley Robotics announced it will release the ?Moley Robotic Kitchen? next year to cook more than 5000 different recipes, but it will set you back around 340,000 US dollars.
VIDEO: Magellan Financial Group tumbles 28% on loss of major contract.
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