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Recent and archived work by AAP for The Bull:

Target AHG downgrades FY profit guidance

Takeover target Automotive Holdings has downgraded its profit guidance and warned that its full-year results could also contain writedowns. AHG – which last week recommended an improved offer from rival auto retailer AP Eagers – said on Tuesday that challenging retail conditions and subdued trade in its refrigerated logistics division around Easter meant it expects…

Gold eyes best day in three months

Gold prices climbed and were on track for their best day in nearly three months overnight as investors sought a safe haven from market turmoil triggered by a Chinese announcement that it will retaliate over levies imposed by the US government. Spot gold climbed 1.1 per cent to $US1,299.30 per ounce after hitting $US1,301.10, its…

ASX expected to fall as Wall Street slumps

The Australian share market is expected to open lower after large falls on Wall Street overnight. The SPI200 futures contract was down 54 points, or 0.86 per cent, at 6,243.0 at 0700 AEST, suggesting a negative start for the benchmark S&P/ASX200 on Tuesday. On Wall Street, the Dow Jones Industrial Average was down 2.38 per…

Wall St shudders as trade war intensifies

Wall Street sank after China defied Washington by announcing retaliatory tariffs, the latest salvo in the two countries’ increasingly belligerent trade war, sending investors fleeing equities for less risky assets. All three major US indexes lost ground on Monday in a widespread sell-off, with the tech-heavy Nasdaq posting its biggest one-day percentage loss this year….

Zebpay crypto exchange sets up in Aust

A large cryptocurrency exchange that was virtually pushed out of India has praised Australia’s clear stance on digital currencies as it set up shop here. Zebpay says Australia’s clarity on cryptocurrency was a major reason it chose to open offices in Melbourne and Sydney this month, joining more than 240 cryptocurrency exchanges registered nationwide. The…

Trump to meet Xi as China sets new tariffs

US President Donald Trump says he will meet with Chinese President Xi Jinping next month and expects their discussions will be “very fruitful”, as the trade war between the world’s two largest economies intensified. Earlier on Monday, China announced higher tariffs on a range of US goods including frozen vegetables and liquefied natural gas. The…

No cabinet review for first home scheme

Scott Morrison reportedly unveiled his plan to help some Australians buy their first home more easily without consulting his cabinet. Some of the prime minister’s senior colleagues only learnt of the idea when he announced it at the coalition’s election campaign launch on Sunday, according to the Sydney Morning Herald and The Age. Under the…

News Corp shares climb on $23m Q3 gain

News Corp shares are up after it posted $US23 million ($A32.9 million) net income for the third quarter, with the consolidation of Foxtel and a strong performance by HarperCollins offsetting a decline in news and information earnings. The result compared to a net loss of $US1.1 billion a year ago – when the Rupert Murdoch-controlled…

Meat industry wants energy, labour action

Australia’s meat processors have demanded action from both sides of politics on soaring energy costs and labour shortages ahead of the federal election. The $25 billion industry is frustrated with inaction on a comprehensive energy policy with power prices hurting across the supply chain. Australian Meat Industry Council chief executive Patrick Hutchinson said his members,…

RBA maintains medium-term GDP forecasts

The Reserve Bank has confirmed its downgraded near-term economic growth forecasts, but has kept its longer-term expectations unchanged. The RBA said on Friday it now expects annual GDP growth to June of 1.75 per cent, compared to the 2.25 per cent it flagged six months ago, with the December target downgraded from 3.0 to 2.75…