Wall St down as inflation hits 40yr high
NEW YORK, RAW – Wall Street has resumed its sell-off, closing lower as inflation hit a four-decade high, cementing expectations the US Federal Reserve will hike key interest rates at the conclusion of next week’s monetary policy meeting to prevent the economy overheating. Looming uncertainties surrounding Russia’s invasion of Ukraine also helped convince market participants…
Housing relief for NSW as rains ease
SYDNEY, AAP – NSW residents whose homes have been damaged or destroyed in the devastating floods will be able to call on support totalling more than half a billion dollars as the clean-up continues. Premier Dominic Perrottet said a $551 million housing support package will benefit some 25,000 households. The federal government will provide half…
$2.1b for winter COVID, flu spike plan
CANBERRA, AAP – The federal government will commit $2.1 billion ahead of winter to prepare for an expected COVID-19 surge alongside a deadly flu season. The winter plan was requested by national cabinet to ensure the country and health systems were prepared for spikes in respiratory illnesses and will be a major topic of discussion…
ASX rallies after lofty oil prices ease
SYDNEY, AAP – ASX shares have had their best day in four weeks after oil prices eased from lofty heights and hopes rose for an end to war in Ukraine. The market on Thursday rose 1.1 per cent after the United Arab Emirates pledged to provide more oil while nations boycott Russia for its invasion…
Rio Tinto slashes ties with Russia
MOSCOW, RAW – Rio Tinto has become the first major mining company to announce it is cutting all ties with Russian businesses, joining a raft of leading Western companies in a pullout following Moscow’s invasion of Ukraine. Rio has previously said it has no operational assets or employees to pull out of Russia, or Ukraine,…
Call for housing to be election priority
CANBERRA, AAP – The housing industry believes home ownership should be made a priority whoever wins the federal election due in May. The Housing Industry Association says its own research shows three-quarters of Australians believe people should be able to own their own home. Of those respondents currently renting, 85 per cent aspire to own…
ASX eases lower after US inflation record
SYDNEY, AAP – Shares on the Australian market were a little lower after surging US inflation figures and little progress in Ukraine peace talks dampened sentiment. The market was down 0.35 per cent on Friday and losses would have been greater if not for the heavyweight miners’ gains. Most world markets were lower after a…
Myer H1 earnings bring back dividends
SYDNEY, AAP – Myer shareholders will receive their first dividend in four years after first-half sales improved. The department store chain on Thursday declared first-half sales rose by eight per cent to $1.5 billion for the 26 weeks to January 29. Net profit was down 55 per cent to $32.3 million although the retailer said…
Twitter tries to bypass Russia’s block
SAN FRANCISCO, AP – Twitter has launched a privacy-protected version of its site to bypass surveillance and censorship after Russia restricted access to its service in the country. Russia has blocked access to Facebook and has limited Twitter in an attempt to try to restrict the flow of information about its war in Ukraine. Both…
Climate ‘on steroids’ drives extreme flood
BRISBANE, AAP – A new report has detailed the extraordinary nature of Australia’s flood crisis, calling it one of the most extreme disasters in the nation’s history. The Climate Council says thousands more Australians now have lived experience of a climate system that has been super-charged by global warming. It says climate change is firmly…
