Randal Humich’s private development outfit has swooped on a major retail development site in Perth’s central business district as it backs a recovery in city trading.

A Victorian fashion company has become the latest casualty in Australia’s struggling retail sector after collapsing into liquidation.

Cettire customers have defied elevated cost of living pressures by splurging on designer clothes, shoes and accessories, with the online goods retailer posting nearly a 100 per cent jump in revenue.

Pressure is mounting on international suitors Brookfield and EIG to lift its $18.7bn bid for Origin Energy after Australia’s largest electricity and gas retailer hiked its annual earnings guidance.

CommSec’s Tom Piotrowski says the US markets were “extraordinarily volatile” last night.

“We had some much stronger than expected retail sales numbers for the month of September,” he told Sky News Australia.

“Pointing to the prospect of more rate hikes in the US, highlights the strength of the US employment market additionally as well.

“So, a sharp selloff in the early part of the session was then marked by a recovery late in the day, which now has the Dow just in positive territory.”

Mr Piotrowski’s comments come as the ASX 200 is expected to start with a modest gain, up by around 0.2 of a per cent.

Presented by CommSec.

Inflation has picked up in recent months, with prices rising on everything from gas to food and insurance. WSJ’s Dion Rabouin explains how the latest U.S. retail sales report will provide the Federal Reserve the most important data point yet on the state of U.S. consumers. Photo: Jamie Kelter Davis/Bloomberg News