Employment falls by further 138,000
CANBERRA, AAP – Australia’s unemployment rate ticked up to 4.6 per cent in September as a further 138,000 jobs were lost due to lockdowns in NSW, Victoria and the ACT. The jobless rate had unexpectedly eased to a near-13-year low of 4.5 per cent in August as a result of people giving up searching for…
Asian stocks up as US dollar squeezed
SINGAPORE, RAW – Asian stock markets have risen, the US dollar has eased and longer-dated bonds rallied as investors reckoned on inflation bringing forward rate hikes around the world. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent. Japan’s Nikkei climbed one per cent. The Shanghai Composite was marginally softer while Hong…
ASX inches higher despite IMF, US lead
SYDNEY, AAP – Investors on the ASX have nudged the indices higher despite the forecast for world economic growth being lowered due to the persistent coronavirus. The market was down early but had inched higher by 1200 AEDT on Wednesday and most categories were up. Information technology and property shares fared best. Afterpay was higher…
Wall St lower, jitters ahead of earnings
NEW YORK, RAW – US stocks have finished lower, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market…
NSW businesses given Xmas stock certainty
SYDNEY, AAP – Small and medium-sized businesses have been given the green light to restock for Christmas as NSW Premier Dominic Perrottet expresses hope the state economy will grow again in the December quarter. And while the Labor opposition supported the package, it expressed concern toll relief measures would prove insufficient. It comes as NSW…
Net zero is not zero emissions: Taylor
CANBERRA, AAP – Energy Minister Angus Taylor has likened a business-led proposal to tighten emissions obligations on polluters to a “backdoor carbon tax”. In a signal to the Nationals, who are yet to agree to stronger emissions cuts ahead of COP26 climate talks in Glasgow, Mr Taylor stressed net zero emissions does not mean stopping…
Facebook unveils new controls for kids
NEW YORK, AP – In the aftermath of damning testimony that its platforms harm children, Facebook plans to introduce several features to protect young people. These would include prompting teens to take a break from using photo-sharing app Instagram, and ‘nudging’ those who repeatedly look at the same content that is not conducive to their…
Morrison rules out GST carve-up changes
SYDNEY, AAP – Prime Minister Scott Morrison has categorically ruled out any further changes to the carve-up of the GST. NSW and Western Australia are ramping up their war of words over the distribution of GST payments handed out by the federal government. But asked about the stoush on Thursday, Mr Morrison was clear. “The…
NSW building defects under-reported
SYDNEY, AAP – Some 39 per cent of nearly 500 strata buildings surveyed in NSW had serious defects but only 15 per cent were reported to Fair Trading. A study by NSW Building Commissioner and Strata Community Australia found cost and lack of awareness were the main barriers to under-reporting. Two of the most commonly…
Barilaro championed regional NSW until end
SYDNEY, AAP – A weary NSW Nationals leader John Barilaro is leaving politics after helping map the state’s course through one of the most challenging times in living memory. The 49-year-old is known for wearing his heart on his sleeve during a political career that has lasted more than a decade. “I just don’t have…
