Good afternoon,

In a rare move, the ASX rebounded massively in late afternoon trade on Thursday, ending down just 0.3pc after a 1.7pc intraday fall.

Corporate watchdog ASIC has approved a new banking code of practice that expands protections for more small businesses, casts a wider net over financial difficulty and increases provisions for loan guarantors.

Meanwhile, the Queensland government’s plan to take full control of the Callide C power station has hit a significant hurdle after Czech investor Sev.en was successful in getting administrator Deloitte to step down. Sev.en has argued Deloitte hasn't done enough to investigate the role of the government's CS Energy in a 2021 explosion.

And Seven West Media’s YouTube accounts have been hijacked , in what appears to be an attempt by online criminals to fleece Australians of their savings using Elon Musk’s likeness to spruik bogus cryptocurrency investments.