ASX drops 0.78pc as miners, banks tumble
SYDNEY, AAP – Investors have had their biggest loss in a week on the Australian share market, after the materials and financial sectors slipped by more than one per cent. The S&P/ASX200 benchmark index closed lower by 52.4 points, or 0.78 per cent, to 6663.0 on Monday. The All Ordinaries closed lower 51.4 points, or…
Morrison increases criticism of US riots
CANBERRA, AAP – Prime Minister Scott Morrison has increased his criticism of the deadly riot at the US Capitol by Donald Trump supporters without directly condemning the outgoing president. Mr Trump last week made history as the only US president to be impeached twice and is due to face a Senate trial to decide if…
China’s economy picks up speed in Q4
BEIJING, RAW – China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-stricken 2020 in remarkably good shape. It remains poised to expand further this year even as the global pandemic rages. The world’s second-largest economy has surprised many with the speed of its recovery from…
Labor concerned wages weak in recovery
CANBERRA, AAP – The end of the JobKeeper wage subsidy is looking less dangerous than previously thought because the economy is in recovery and the jobs market is doing so well, a leading economist believes. But federal Labor argues there will be no decent economic recovery unless there is also an improvement in wages growth….
ASX down 0.46 per cent, big sectors lower
SYDNEY, AAP – Materials and energy were the two biggest burdens on the Australian share market, which was lower, following a weaker Wall Street. The S&P/ASX200 benchmark index was lower by 31.2 points, or 0.46 per cent, to 6684.2 at 1200 AEDT on Monday. The All Ordinaries was lower by 30.5 points, or 0.43 per…
Super Retail, JB Hi-Fi’s H1 earnings boom
SYDNEY, AAP – Two retail groups which own the Supercheap Auto and JB-Hi-Fi stores have reported bumper first-half earnings during the pandemic. Super Retail Group, which owns BCF, Macpac, Rebel and Supercheap Auto, on Monday said net profit after tax was expected to rise by up to 201 per cent to $173 million, based on…
Wall St lower as banks, energy shares fall
NEW YORK, RAW – Wall Street’s main indices have finished lower, weighed down by big US banks after their earnings reports, while the energy fell sharply due to a regulatory probe into Exxon Mobil Corp. The S&P 500 banks index lost ground as shares of Wells Fargo & Co, JPMorgan Chase & Co and Citigroup…
Branson’s Virgin Orbit reaches space
LOS ANGELES, AP – Richard Branson’s Virgin Orbit reached space on Sunday, eight months after the first demonstration flight of its air-launched rocket system failed, the company said. A 21.3-metre-long LauncherOne rocket was released on Sunday from beneath the wing of a Boeing 747 carrier aircraft off the coast of Southern California, ignited moments later…
Vic economy to bounce back fastest: report
MELBOURNE, AAP – Victoria’s economy is forecast to recover quicker than any other state or territory, despite suffering the worst downturn in the country due to its second wave of coronavirus. The Deloitte Access Economics quarterly business outlook, released on Monday, forecasts the Victorian economy will grow 5.3 per cent in 2021, outstripping Queensland (4.6…
ASX ends little changed, slips for week
SYDNEY, AAP – Australia’s share market has closed little changed and was lower for the week, despite US President-elect Joe Biden revealing a $US 1.9 trillion ($2.5 trillion) economic stimulus proposal. The S&P/ASX200 benchmark index closed higher by 0.1 points, or 0 per cent, to 6715.4 on Friday. The index lost 0.63 per cent for…
