Scorecard out as farmers eye carbon change
CANBERRA, AAP – The first carbon farming scorecard has backed Australia’s “world leading” use of fields and forests to reduce emissions. Corporate commitments to reach net zero emissions by 2050 or sooner have created demand for carbon credits earned from certified projects, both as a way to meet targets and as a financial asset. But…
Labor seeks to relieve rent price pressure
A Labor government will seek to increase the supply of housing to take pressure off rising rents. The Community Housing Industry Association says people are being priced out of the market with rent prices outstripping wages. Even after receiving rent assistance almost half of renters were still in housing stress. Labor leader Anthony Albanese says…
Broad gains push ASX higher at noon
SYDNEY, AAP – The Australian share market has traded firmly higher, buoyed by overnight gains on Wall Street and continuing strength in commodity prices that have boosted heavyweight mining and energy stocks. The benchmark S&P/ASX200 index was up 42.1 points, or 0.56 per cent, to 7521.1 by 1200 AEST on Thursday. The All Ordinaries index…
Bank of Queensland posts H1 profit lift
SYDNEY, AAP – Bank of Queensland, one of Australia’s leading regional banks, has posted a jump in first half profit, after keeping a lid on costs as loan impairments fell. The Brisbane-based bank, which has more than 160 branches across the nation, reported net cash earnings of $268 million, up 14 per cent from the…
Economists see another jobless rate drop
CANBERRA, AAP – If economists are right, Anthony Albanese will have to learn a new unemployment rate when the latest labour force figures are released. The opposition leader stumbled on the first day of the election campaign trail when he couldn’t recall what the current jobless rate, despite the government boasting about it seemingly every…
Fare free days begin for Sydney commuters
SYDNEY, AAP – Commuters can take advantage of 12 days of free public transport on Sydney’s Opal network during the Easter holiday period. The free trips on trains, buses, ferries, light rail and metro services began at 4am on Thursday and will continue until 3.59am on April 26. The network extends across Greater Sydney to…
Wall Street surges in growth stocks rally
NEW YORK, RAW – Wall Street rallied to close sharply higher, powered by a recovery in interest-sensitive growth stocks as investors digested hot inflation data and a mixed bag of quarterly results. Autumning US Treasury yields helped the tech-heavy Nasdaq lead all three major US stock indexes higher, with semiconductors outperforming the broader market. The…
Energy, miners lead Aust shares higher
SYDNEY, AAP – Australian shares have closed higher on the back of rising commodity prices but investor sentiment remains cautious amid the ongoing Ukraine conflict and prospects for an earlier-than-expected interest rate increase to curb inflation. The benchmark S&P/ASX200 index ended up 25 points, or 0.34 per cent, to 7479.0 on Wednesday. The All Ordinaries…
Rate rise risk unnerves mortgage holders
CANBERRA, AAP – Confidence among households with a mortgage has dropped sharply in the past month as expectations build for a hike in the cash rate by the central bank in just a few months’ time, with more increases to follow. The overall Westpac-Melbourne Institute consumer sentiment index fell by a further 0.9 per cent…
Greens’ power balance to end coal and gas
CANBERRA, AAP – Hanging in the office of the Greens leader is a picture of a coal-fired power station. The framed photo of the LaTrobe valley power station was given to Adam Bandt by its workers, which he says signifies the party’s support for coal and gas workers. “I have assured these communities that coal…
