Tech, growth stocks lead Wall St lower
NEW YORK, RAW – Major US stock indexes closed mostly lower on Monday, led by a more than two per cent drop in Nasdaq, as investors sold tech and big growth names ahead of this week’s Federal Reserve meeting and an expected hike in interest rates. The Dow ended flat, with financial and healthcare shares…
Aust shares have best day in six weeks
SYDNEY, AAP – Banks and biotechnology giant CSL helped the ASX to its biggest gain in six weeks despite the inflationary ramifications of war in Ukraine and a rate rise tipped for the US this week. A broad-based rally on Monday helped the indices improve by more than one per cent and better most Asian…
Pension boost as inflation rises
CANBERRA, AAP – Pensioners will see a $20 per fortnight boost to their payments from Sunday as the federal government raises the welfare payment. Australia’s aged and disability support pensions, along with carer’s payments, will rise from March 20 to cover rising inflation. The boost means a $20.10 per fortnight increase for individuals to $987.60…
Markets fall on Ukraine war, rate worries
NEW YORK, RAW – World shares slid on Friday, pressured by uncertainty about the conflict in Ukraine and expectations the Federal Reserve will hike US interest rates next week. The Nasdaq and the S&P 500 fell, weighed down by tech and growth stocks. Oil prices settled up for the day but down for the week…
Fuel relief decision put off until budget
CANBERRA, AAP – Prime Minister Scott Morrison says any decision to ease pressure on sharply rising petrol prices won’t be announced until the federal budget. The prime minister’s comments came after two Nationals MPs called on the federal government to cut the fuel excise as petrol prices continue to climb towards $2.20 a litre due…
NSW roads not $1.4b over budget: minister
SYDNEY, AAP – The NSW infrastructure minister denies the cost of three Sydney road projects have blown out by about $1.4 billion in the last financial year. Rob Stokes said the government’s M6, WestConnex and Sydney Gateway projects all remained within their budgeted figures for 2021/22, after a Transport for NSW spokesman told Nine Newspapers…
ASX up 1pc despite war, looming rate hike
SYDNEY, AAP – Investors have pushed the ASX higher more than one per cent to start a week in which US rates are tipped to rise. The Australian market saw a broad-based rally early despite oil prices remaining elevated due to sanctions against Russia for its invasion of Ukraine. Brent crude oil was trading at…
ASX ends lower, keeps above 7000 points
SYDNEY, AAP – ASX shares fell at the end of the week but the main index stayed above 7000 points as lofty commodity prices steadied. The ASX lost almost one per cent after US annual inflation rose to a 40-year record and Russian and Ukrainian officials were unable to call a halt to war. Oil…
Vic posts $10 billion first-half deficit
Victoria recorded a deficit of $10 billion for the first half of the 2021/22 financial year, despite increasing economic activity as COVID-19 restrictions eased. The deficit, contained in the mid-year financial report tabled in parliament on Friday, was largely attributed to the state’s Delta wave and subsequent 77-day lockdown of Melbourne last year. The result…
‘Strong candidates’ for RBA deputy: Lowe
CANBERRA, AAP – Reserve Bank governor Philip Lowe says there are “multiple strong candidates” for deputy of the central bank, following the resignation of Guy Debelle. Dr Debelle will step down on March 16 ahead of becoming chief financial officer of Fortescue Future Industries in June. He has worked at the RBA for 25 years,…
