Economy heading for recession?; Bitcoin stumbles; SpaceX IPO liftoff

Thursday 4 June 2026

The Australian economy slows as interest rates and fuel costs bite. 

• Electrified vehicles comprised almost 50 per cent of all new vehicles sold last month 
• Bitcoin tumbles as global investors head towards US tech stocks
• Luxury brands Hermes and Chanel defy the spending downturn in Australia
• Elon Musk’s SpaceX ready for IPO liftoff

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