Aust to supply cobalt for GM electric cars
CANBERRA, AAP – Glencore has struck a deal with a leading US car maker to supply a key ingredient in electric vehicle batteries from an Australian mine. The multi-year sourcing agreement will see Australian cobalt used in the batteries that power General Motors’ Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq vehicles, the companies…
Easter chaos for Sydney airport travellers
SYDNEY, AAP – Sydney Airport is preparing for its busiest day in two years as travellers fly out for Easter holidays, with passengers stuck in queues as staff shortages strain systems. Early on Wednesday traffic around the domestic airport was backed up for a kilometre, while queues outside the terminal snaked back for up to…
Job ads remain at record levels: SEEK
CANBERRA, AAP – Online platform SEEK has seen a record run of job advertising extend for another month. But in a further sign of a tightening labour market, such demand for staff is not translating into applications. In March jobs ads rose by a further five per cent to the highest level in its SEEK’s…
Elon Musk sued by Twitter shareholders
NEW YORK, RAW – Elon Musk is being sued by former Twitter shareholders who claim they missed out on the recent run-up in the stock price because he waited too long to disclose a 9.2 per cent stake in the social media company. In a proposed class action filed in Manhattan federal court, the shareholders…
Star risk boss to continue casino evidence
SYDNEY, AAP – Star Entertainment’s top risk and legal manager will for a third day front a high-profile inquiry into the fitness of The Star Sydney to hold a casino licence. The NSW gaming regulator inquiry into The Star last month prompted the resignation of Star CEO Matt Bekier, who stepped down following issues raised…
Fuel refiners get $250m to shore up supply
CANBERRA, AAP – Two federal government grants of $125 million will go to two refiners in Queensland and Victoria to shore up Australia’s domestic supply of fuel. The grants will be matched by the Ampol refinery in Brisbane and the Viva Energy refinery in Geelong for major facility upgrades and to strengthen local production. Prime…
Wall St slumps as tough Fed actions loom
NEW YORK, RAW – Wall Street turned rally to sell-off, reversing earlier gains as impending monetary tightening from the Federal Reserve once again pulled growth stocks back into red territory. All three major US stock indexes turned from positive to negative early in the afternoon, weighed down by healthcare and financials. The turnabout began in…
Shanghai locals step outside as curbs ease
SHANGHAI, RAW – Some residents of Shanghai have stepped out of their homes for the first time in more than two weeks as the city takes tentative steps towards easing a COVID-19 lockdown amid mounting worries over the economic impact of the strict curbs. With a quarter of the population now in some form of…
ASX eases lower before US inflation data
SYDNEY, AAP – Broad-based losses plagued the Australian share market ahead of the latest US inflation figures, tipped to show a 40-year record. The ASX closed lower by 0.42 per cent on Tuesday and healthcare and technology stocks had the steepest losses. The benchmark S&P/ASX200 index closed down 31.2 points, or 0.42 per cent, to…
Qld plant will turn animal fat into fuel
BRISBANE, AAP – Animal fat used cooking oil and canola will be transformed into a sustainable fuel for planes and vehicles in an Australian-first project in central Queensland. The Oceania Biofuels plant will be built in the Yarwun Industrial Precinct in Gladstone, where it will convert feedstocks sourced from the east coast into sustainable aviation…
