CommSec morning report
In US economic data, the Chicago Federal Reserve national activity index was steady at -0.19 in June (survey: -0.03). And the Dallas Federal Reserve manufacturing index fell from -17.7 to -22.6 in July (survey: -22). European sharemarkets were mixed on Monday. The panEuropean STOXX 600 index rose by 0.1% with the Banks sector up 1.7%….
Evening report Monday
Following mixed performances for global equities on Friday and ahead of a number of key indicators in the days ahead, the Aussie market struggled to find direction, with the ASX 200 falling 1.6 pts or 0.02 per cent, to 6789.9. Gains in the Materials sector (up 1.1 per cent) and Utility sectors (up 1.1 per…
Scams robbed Australians of more than $2 billion last year
Australians lost a record amount of more than $2 billion to scams in 2021, despite government, law enforcement, and the private sector disrupting more scam activity than ever before, the ACCC’s latest Targeting Scams report reveals. The report compiles data from Scamwatch, ReportCyber, major banks and money remitters, and other government agencies, and is based…
ACCC proposes to authorise Virgin’s codeshare arrangements
The ACCC has issued a draft determination, proposing to grant authorisation for Virgin Australia to enter into codeshare pricing arrangements with its international airline partners for 5 years. Under the arrangements, Virgin Australia’s international airline partners will set the fares for international long-haul flights that Virgin Australia may market and resell to consumers. The ACCC…
ASIC bans former NSW mortgage broker for 7 years
ASIC has banned former NSW mortgage broker Guodong Liu, also known as Louis Liu, from engaging in any credit activities, performing any function involved in engaging in credit activities, or controlling another person who engages in credit activities, for seven years, after he made false statements to ASIC. Between November 2016 and December 2017, Mr…
China’s benchmark interbank gold prices higher
China’s benchmark prices for spot interbank gold transactions were higher Monday, according to the China Foreign Exchange Trade System. The benchmark price for gold of 99.95 percent pure or above stood at 374.94 yuan (55.5 U.S. dollars) per gram, up 5.64 yuan from the previous trading day, while that for gold of 99.99 percent pure…
ASIC to extend deadlines for unlisted entity financial reports
ASIC will extend the deadline for unlisted entities to lodge financial reports by one month for balance dates from 24 June 2022 to 7 July 2022 (inclusive). The extended deadlines will assist with any pressures on resources for the financial reporting and audits of smaller entities and provide adequate time for the completion of the…
World Economic Forum optimistic about China’s economic outlook
World Economic Forum (WEF) President Borge Brende said on Thursday that he was optimistic about the economic outlook for China in the medium and long-term. “We are expecting that the measures taken by China and the Chinese authorities will lead to a revival of growth” and are optimistic about the medium- and long-term economic development…
CommSec morning report Monday
In US economic data, the S&P Global manufacturing index eased from 52.7 to 52.3 in July (survey: 52.0). And the S&P Global services index fell from 52.7 in July to 47.0 (survey: 52.7). European sharemarkets were firmer on Friday. Real estate, utilities and food and beverages sectors rose while banks and energy fell. The pan-European…
Inflation is 2022’s boogeyman
An entire generation has never experienced life with high inflation. But that is set to change. Countries like Australia, Canada, the United Kingdom and others are reporting rising inflation. In New Zealand, inflation has climbed to its highest rate in 32 years. Our collective inexperience with the scourge of inflation, and how to solve it,…
