Wall Street ends sharply lower
NEW YORK, RAW – Wall Street indexes ended sharply lower on Wednesday as Ukraine declared a state of emergency and the US State Department said a Russian invasion of Ukraine remains potentially imminent. The State Department added that Washington has not seen any indication of Russians backing away, while the White House said President Joe…
Fate of Vic housing levy ‘very uncertain’
MELBOURNE, AAP – Victoria’s proposed housing levy could be shelved, with the premier accusing the property sector of going back on its word to support reforms. The Victorian government last week announced plans to impose a 1.75 per cent levy on new developments of more than three dwellings to pay for the construction of thousands…
ASX recovers most losses, oil near $US100
SYDNEY, AAP – Australia’s share market recovered most of the losses of a day earlier despite economic sanctions being imposed on Russia for its invasion of Ukraine. The market on Wednesday gained 0.62 per cent and most share categories were higher. Brent crude oil prices were at a lofty $US97.10 per barrel as investors anticipated…
Stronger rules for digital giants: ACCC
CANBERRA, AAP – Australian consumers need more protection against powerful digital giants and unfair trading, the head of the consumer watchdog says. ACCC chair Rod Sims – in his final speech to the National Press Club before he retires from the role – outlined the main issues and challenges in sectors including energy, aviation, digital…
Australian shares slide amid Ukraine fears
SYDNEY, AAP – Australian shares slid nearly 2.5 per cent by mid morning amid a broad-based selloff over fears a full-scale Russian invasion would worsen the Ukraine crisis. By 1200 AEDT on Thursday, the benchmark S&P/ASX200 index was down 179.2 points, or 2.49 per cent, to 7026.5 points – its lowest level in more than…
NSW coast and waters off limits for mining
SYDNEY, AAP – The NSW government has banned offshore mining and exploration for petroleum, coal and other resources in waters off the state’s coastline. Deputy Premier Paul Toole announced the policy on Wednesday, formalising the coalition government’s long-held plan not to support such commercial activities. But sand mining for the purposes of preventing coastal erosion…
Woolies H1 profit down, prices to rise
SYDNEY, AAP – Woolworths has reported a lower first-half profit due to coronavirus costs while boss Brad Banducci warns it is inevitable prices will increase. The retail giant which includes Big W, supermarkets and a reduced stake in drinks business Endeavour on Wednesday declared net profit after tax down six per cent to $795 million…
Australia Post revenues up on parcel ops
SYDNEY, AAP – Australia Post’s revenue soared in the back half of 2021, as COVID-19 lockdowns in major cities sparked online shopping activity and drove parcel deliveries. But the outlook for the next six months is more subdued as the country gets back to normal after two years battling the pandemic. Total revenue for the…
First Vic govt electric cars enter fleet
MELBOURNE, AAP – The Victorian government will replace 75 cars in its government fleet with electric vehicles by June, with another 325 replacements on the way. The state allocated $15 million in its 2021-22 budget to add 400 zero-emission vehicles by 2023, with electric vehicle supply equipment to be installed across government-owned and leased buildings….
Aussies motivated to find meaningful jobs
MELBOURNE, AAP – Aussies want more than a fat pay packet or free tea and coffee from their job, with a survey showing the importance of meaningfulness. Every morning Amber Archbold jumps out of bed and has a spring in her step on the way to work. But it wasn’t always like that. She used…
