House prices rises ‘positive’ for economy
CANBERRA, AAP – Treasurer Josh Frydenberg says the rise in house prices is a positive sign for the Australian economy. Analysts expect a 15 per cent gain in prices in 2021, a step up from earlier predictions. The Reserve Bank is closely monitoring the market, in particular trends in borrowing and lending standards. “It’s positive…
ASX has tiny gain, stays above 7000pts
SYDNEY, AAP – Shares have closed marginally higher on the Australian market as investors steady themselves at heights of more than 7000 points.The benchmark S&P/ASX200 index closed up 5.3 points, or 0.08 per cent, to 7060.7 on Friday. The All Ordinaries closed higher by 8.7 points, or 0.12 per cent, to 7320.7 points. Shares in…
Asian markets shake off US tax worries
SHANGHAI, RAW – Asian shares have risen after the European Central Bank left policy unchanged, extending a rebound following a sharp sell-off earlier in the week, but gains were capped as investors considered the impact of a possible US capital gains tax hike. The ECB’s decision to keep copious stimulus flowing came despite its prediction…
New road rules to protect Vic cyclists
MELBOURNE, AAP – New rules will come into effect in Victoria next week requiring motorists to give cyclists a wide berth when passing them on roads. From Monday, motorists must give riders at least one-metre clearance when overtaking on roads up to 60km/h, and 1.5 metres on roads with speed limits above 60km/h. Victoria had…
Musk offers $100m carbon removal prize
LOS ANGELES, RAW – Billionaire entrepreneur Elon Musk has offered inventors $US100 million in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean. “Right now we’ve only got one planet, said Musk, chief executive of electric car maker Tesla. “Even a 0.1 per cent chance of…
ASX down 0.11 per cent, AUD at 77 US cents
SYDNEY, AAP – Shares were marginally lower on the Australian market as the big banks and miners had mixed fortunes. The benchmark S&P/ASX200 index was down 7.8 points, or 0.11 per cent, to 7047.6 at 1200 AEST on Friday. The All Ordinaries was lower by 5.7 points, or 0.06 per cent, to 7306.9 points. Most…
AMP to spin-off and list AMP Capital unit
SYDNEY, AAP – Wealth manager AMP will spin off and list one of its key business units after a potential sale fell through. The private markets investment arm AMP Capital manages assets classes including infrastructure equity and debt and real estate. It will now be demerged from the main AMP business sometime in the first…
Entire Australia Post board to face Senate
CANBERRA, AAP – Australia Post’s entire board is set to be grilled over Liberal Party links at a Senate inquiry into former boss Christine Holgate’s controversial departure. Ms Holgate says she was unlawfully stood down after it emerged she gifted four Cartier watches worth $20,000 to executives who had clinched a lucrative deal. Chair Lucio…
UK court allows Wright bitcoin claim
LONDON, RAW – London’s High Court has paved the way for a case that could force its judges to take a view on who invented bitcoin, the world’s biggest cryptocurrency which last week soared to all-time highs. The court has allowed Craig Wright, an Australian computer scientist who alleges he created bitcoin, to serve a…
Wall St drops on Biden tax plan reports
NEW YORK, RAW – US stocks have dived on reports President Joe Biden plans to almost double the capital gains tax in what news analysts say provided an excuse to take profits in a directionless market ahead of big tech’s earnings next week. The three main indexes on Wall Street also fell on reports that…
