Australia’s inflation rate is about to go monthly
Australia’s consumer price index is about to go monthly, meaning Australia will join most of the developed world in getting an update on inflation at the end of every month, instead of once every three months as at present. Until now Australia has been the only member of the Group of 20 leading industrial nations…
Evening report Friday
The Aussie sharemarket finished the week on a rather flat note, with the ASX 200 up by a modest 1.7 pts or 0.02 per cent, to 7114.5. The index was supported by a 4 per cent rally in the Energy sector, its best daily improvement in around two months. The Financials sector however shed 0.8…
Jobs lost, but jobless rate still hits fresh 48-year low
Labour force Employment fell by 40,900 in July (consensus: +25,000) with full-time jobs down by 86,900 while part-time jobs rose by 46,000. The unemployment rate fell from 3.5 per cent in June to 3.4 per cent in July (lowest since August 1974). To 2-decimal places the jobless rate stands at 3.38 per cent. The number…
Former Continental Coal and Citation Resources director pleads guilty
On 17 August 2022, Peter Neil Landau, of Claremont, Western Australia, pleaded guilty in the Stirling Gardens Magistrates Court to nine charges following ASIC’s investigations into former ASX-listed companies, Citation Resources Limited (Citation) and Continental Coal Limited (in liquidation). Mr Landau, the former director of Citation and Continental Coal, has pleaded guilty and will be…
Roundtables to discuss jobs, skills challenges
The Minister for Industry and Science, the Hon. Ed Husic MP, will host a series of roundtables this week with industry leaders to discuss the economic and employment challenges they face, particularly the national shortage of skilled labour. The roundtable to be held will cover: artificial intelligence (Friday 19 August). The input from these roundtables…
Smaller telcos continue to increase broadband market share
Smaller broadband providers increased their market share in the NBN wholesale market in the June quarter 2022, and a record number of telcos now have their networks connected to the NBN at all of the available physical locations, the ACCC’s latest NBN Wholesale Market Indicators Report reveals. The report looks at the wholesale market for NBN services,…
China’s air cargo traffic back to normal
China’s air cargo traffic has returned to normal recently after posting a V-shape recovery in the first half of this year, a civil aviation official said Thursday. In July, the civil aviation industry transported a total of 539,000 tonnes of cargo and mail, an increase of 28.3 percent compared with April, Liang Nan, director of…
Oil, gas output hits record high
China’s oil and natural gas output hit a record high in the first seven months of 2022, helping to buoy economic development and meet people’s living needs, the National Energy Administration said Thursday. Crude output rose 3.7 percent year on year to 120 million tonnes from January to July, while natural gas output increased 5.4…
CommSec Morning Report Friday
In US economic data, claims for unemployment benefits (initial jobless claims) fell by 2,000 to a downwardly-revised 250,000 in the past week (survey: 265,000). Existing home sales fell by 5.9% in July to a 4.81 million annualised rate (survey: 4.89m). The Philadelphia Federal Reserve manufacturing index rose from -12.3 points to +6.2 points in August…
Evening report Thursday
The Aussie sharemarket snapped three straight days of gains after the ASX 200 edged lower by 14.9 pts or 0.21 per cent, to 7112.8. Eight of 11 sectors declined, with the Tech sector (down 2.4 per cent) falling the most. The Energy sector however climbed by 1.4 per cent after the price of oil rose…
