Tycoon tax to end offshore gas ‘rip-off’
CANBERRA, AAP – A tycoon tax would end tax breaks for corporations profiting from Australian gas and spread the wealth among communities, under a Greens’ plan. The Greens pledged on Wednesday to end the “brain-dead, trickle-down” taxation of oil and gas under past governments, if they win the balance of power at the May 21…
IMF cuts world growth forecast due to war
CANBERRA, AAP – The International Monetary Fund has slashed its global economic growth forecasts in response to Russia’s invasion of Ukraine and the resulting supply chain disruptions and spike in inflation. However, disruptions to Russian and Ukraine exports may be windfalls for other commodity exporters, like Australia. “This crisis unfolds while the global economy was…
Wall St ends higher on earnings optimism
NEW YORK CITY, RAW – US stocks have ended higher as investors used positive earnings to advance Wall Street’s main indexes and took relief from two US Federal Reserve officials offering more dovish comments on interest rate rises than one of their counterparts. Shares of megacap companies including Microsoft Corp, Apple Inc and Amazon.com Inc…
ASX returns from Easter in upbeat mood
SYDNEY, AAP – Strong energy and resources prices lifted Australia’s commodity-tinged stock exchange in the first trading session after the Easter break. The benchmark S&P/ASX200 index ended 41.8 points higher to close at 7565.2 on Tuesday, up 0.56 per cent from Thursday, amid broad strength in companies tied to minerals and oil and gas. The…
NZ ‘not in good place’ on interest rates
WELLINGTON, AAP – Reserve Bank Governor Adrian Orr has conceded New Zealand is “not in a good place” as inflation threatens to derail its COVID-19 recovery and challenges the government’s agenda. However, the government remains poised to push reform projects through at next month’s budget, which includes new housing, health and climate change measures which…
$75 million coalition pledge for farmers
CANBERRA, AAP – Farmers will be helped to buy their first property under a $75 million pilot scheme proposed by the Coalition aimed at encouraging more people into agriculture. The election promise would see the government guarantee 40 per cent of an eligible new farmer’s commercial loan up to a maximum value of one million…
Next space station crew in June: China
BEIJING, AP – China will launch three more astronauts to its newest space station in June after the latest crew returned from a six-month stay in orbit. The crew of the Shenzhou 14 capsule will spend six months on the Tiangong to add two modules to the station, Hao Chun, director of the China Manned…
Health sector pushes ASX higher at noon
SYDNEY, AAP – The Australian share market has added to its post-Easter gains midway through the session, propelled by the healthcare sector. The benchmark S&P/ASX200 index rose by 23.8 points to 7589 at noon on Wednesday, representing a 0.31 per cent increase. Shares in Ramsay Health Care, the country’s biggest private hospital operator, were up…
Labor rejects claims of power price rise
CANBERRA, AAP – Warnings of rising power prices are the latest in a climate scare campaign by the coalition ahead of the election, Labor says. The coalition released modelling on Tuesday which showed consumers would be financially worse off under Labor’s plan to increase the size of the transmission network. Energy Minister Angus Taylor said…
New hydrogen hubs announced for WA
CANBERRA, AAP – The locations of new hydrogen hubs and critical mineral grants will be unveiled by the prime minister in Western Australia as Scott Morrison says the developments will bring thousands of jobs to the sector. The Pilbara in the state’s north and Kwinana in Perth will become the home of two new hydrogen…
