Euro, US futures slide; Ukraine risks rise
TOKYO, RAW – US equity futures have sunk with the euro while the safe-haven US dollar and yen were in demand after Western nations imposed fresh sanctions on Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system. US 10-year Treasury futures rose a full point, while the Russian…
Forrest stoking the renewables sector
SYDNEY, AAP – Businessman Andrew Forrest has made a major play in the renewable energy sector with a $3 billion investment promising power for more than 650,000 homes. The wind, solar and battery farm in central Queensland is touted as the largest of its kind in the southern hemisphere. The move will see Dr Forrest’s…
BP quits Russia, takes $A35 billion hit
LONDON, RAW – British multinational oil and gas company BP is abandoning its 19.75 per cent stake in Russian oil giant Rosneft after Russia’s invasion of Ukraine in an abrupt and costly end to three often fraught decades of operating in the oil-rich country. Rosneft accounts for around half of BP’s oil and gas reserves…
Dow posts biggest gain since November 2020
NEW YORK, RAW – The Dow on Friday registered its biggest daily percentage gain since November 2020 with the market rebounding for a second day from the sharp selloff leading up to Russia’s invasion of Ukraine. Oil prices fell below $US100 ($A138) a barrel, easing some concerns about higher energy costs, and all 11 of…
Australian shares edge higher at noon
SYDNEY, AAP – Australian shares edged higher by noon, with investors staying in cautious mode over the fallout of the Ukraine conflict after Western nations imposed fresh sanctions on Russia. By 1200 AEDT on Monday, the benchmark S&P/ASX200 index was up 19.7 points, or 0.28 per cent, to 7017.5 points. The All Ordinaries index rose…
Ukraine crisis fuels record petrol prices
SYDNEY, AAP – An overnight surge in the cost of oil sparked by the crisis in Ukraine has contributed to record fuel prices for Australian drivers. And Aussies have been warned the Russian invasion of its neighbour means further sudden price spikes and volatility are here to stay, Peter Khoury from the NRMA said on…
Australian shares edge up at close
SYDNEY, AAP – The Australian share market has ended marginally higher after the rout in the previous session as investors weighed the impact sanctions against Russia over its Ukraine invasion. The benchmark S&P/ASX200 index closed just 7.2 points, or 0.1 per cent higher at 6997.8 points on Friday after rising as much as 0.77 per…
NSW ‘ready to rebound’, says Perrottet
SYDNEY, AAP – Cutting fines, fees and taxes, boosting skills and driving a manufacturing “renaissance” are all part of how NSW Premier Dominic Perrottet wants to lift his state out of the pandemic. “Our goal is to emerge from the pandemic stronger than when we entered it,” Mr Perrottet told the Committee for Economic Development…
Oil prices surge on Ukraine invasion
BEIJING, RAW – Oil prices have jumped nearly 3 per cent as Russia’s invasion of Ukraine stoked global supply concerns as markets brace for the potential impact of trade sanctions on major crude exporter Russia. Global benchmark Brent crude rose $2.72, or 2.75 per cent, to $101.80 a barrel around 0347 GMT on Friday, after…
Call for reform after Probuild collapse
CANBERRA, AAP – The collapse of national construction firm Probuild is part of a trend that without urgent reform will continue to rob tradies of livelihoods, contractors warn. “There is a role for government to lead the way in creating a more sustainable industry,” Australian Constructors Association boss Jon Davies said on Friday. “Industry reforms…
