Stocks fall as Ukraine crisis deepens
SINGAPORE, RAW – Asian shares took a beating in early trade and oil prices jumped as a report of a nuclear power plant on fire amid continued fierce fighting between Ukraine and Russian troops further unnerved investors. RIA News agency cited the Ukrainian atomic energy ministry as saying that a generating unit at the Zaporizhzhia…
Nike, IKEA close Russian stores amid war
MOSCOW, RAW – Sneaker maker Nike and home furnishings firm IKEA have shut down stores in Russia, as trade restrictions and supply shutdowns added to political pressure for companies to stop business in Russia because of its invasion of Ukraine. French bank Societe Generale said it was working to cut its risks in Russia, fearing…
Changes unlock millions of carbon credits
CANBERRA, AAP – Changes to Australia’s carbon market may unlock millions of units, but participants say the “arbitrary” move could damage investor and community confidence in the emissions reduction tool. Energy and Emissions Reduction Minister Angus Taylor on Friday moved to allow projects backed by the Emissions Reduction Fund (ERF) to pay a fee to…
NSW dairy farmer shattered by stock losses
SYDNEY, AAP – A NSW dairy farmer has told of the terrible moment he watched a quarter of his 300-strong herd being swept away by raging flood waters. Paul Weir, from Lismore in the state’s north west, captured the moment on film as he helplessly looked on. “I watched about 70 or 80 go that…
Wall Street slips amid inflation worries
NEW YORK CITY, RAW – Megacap growth stocks have dragged the Nasdaq and S&P 500 lower as investors worried that soaring commodity prices due to the Ukraine crisis will add to inflationary pressures. Growth stocks including Amazon.com, Microsoft Corp, Tesla and Nvidia fell between 0.8 per cent and 2.7 per cent. The energy index gained…
WA super fund eyes Russian investment exit
PERTH, AAP – Western Australia’s government superannuation fund will reduce its exposure to Russian companies closely linked to the Putin administration. WA’s Government Employees Superannuation Board (GESB) holds interests in 20 companies domiciled in Russia, public records show. These include oil and gas companies Rosneft and Lukoil, state-controlled energy giant Gazprom and Sberbank, Russia’s largest…
ASX winning streak extends to five
SYDNEY, AAP – Australia’s share market extended its longest winning streak this year to five days as soaring commodity prices helped associated stocks. The market gained about half a per cent on Thursday as stocks based on coal, oil and metals soared due to concerns Russia will struggle to supply them under economic sanctions. Energy…
Corporate cop warns of cyber risk amid war
CANBERRA, AAP – Australia’s corporate cop has warned companies to heed cyber security warnings amid heightened global tensions. The Australian Cyber Security Centre (ACSC) has urged all Australian organisations to boost cyber security, Australian Securities and Investments Commission Chair Joe Longo told a business summit on Thursday. “We strongly encourage you to act on that…
Vehicle market posts small sales rise
ADELAIDE, AAP – Sales of new cars and trucks rose marginally in Australia last month, reflecting strong demand from local buyers in the face of continued supply issues. The Federal Chamber of Automotive Industries said 85,340 vehicles were sold in February, up 1.6 per cent compared to the same month last year. FCAI Chief Executive…
Negotiations like a gun: Qantas cabin crew
SYDNEY, AAP – Qantas flight attendants say the national carrier is trying to force them into pay cuts of up to 50 per cent as they negotiate a new enterprise bargaining agreement. Textile workers also say negotiations over enterprise bargaining agreements allowing companies to throw out entire agreements are unfair, as staff on low hourly-rates…
