Historic lift in inflation
The Melbourne Institute monthly headline inflation gauge rose by 1.2 per cent in July – the biggest monthly rise in 20 years. The annual rate rose from 4.7 per cent to a 19-year high of 5.4 per cent. In July, ANZ job ads fell by 1.1 per cent – only the second fall in the…
Home prices slump; Manufacturers lose confidence
The CoreLogic Home Value Index of national home prices fell by 1.3 per cent in July, the third straight monthly decline. Home prices fell in five of eight capital cities in July. Across the regions, 29 out of the 88 SA4 regions recorded flat or higher home prices in July, down from 49 regions in…
Mapping out Australia’s path to tech jobs future
A pathway to help the Australian Government reach its target of 1.2 million tech-related jobs by 2030 has been laid out in a new report from the tech sector. Getting to 1.2 million: Our roadmap to create a thriving Australian tech workforce is the product of a collaboration between tech industry groups brought together at…
ACCC launches Your First Steps to help parents
Parents and carers can get the latest, most reliable information on best practices to keep their baby safe and unsafe products, as part of a new ACCC initiative. Your First Steps (www.babyproductsafety.gov.au), launched today by the ACCC, is a dedicated website, where parents and carers can go for safety advice on how they can protect their…
China’s agricultural product prices increase
The wholesale prices of China’s agricultural products rose slightly last week, data from the Ministry of Agriculture and Rural Affairs showed. From July 22 to 28, the China agricultural product wholesale price index came in at 123.33, edging up 0.3 points week on week, according to the ministry. On a weekly basis, the average wholesale…
Shenzhen rolls out fully autonomous vehicles
The southern Chinese metropolis of Shenzhen Monday started allowing fully autonomous vehicles to run on certain roads as a local regulation on smart and internet-connected vehicles went into effect. It stipulates that fully autonomous automobiles without drivers can run on roads in areas designated by the local traffic management department. The regulation also sets rules…
ASIC places stop order on PDS and advertisements
ASIC has made an interim stop order preventing Fawkner Property Ltd (Fawkner) from issuing or transferring interests in Private Property Trust No. 20 (marketed as Essential Services Trust No. 20) (the Fund), because of misleading or deceptive statements in the Fund’s marketing and disclosure. Fawkner is the responsible entity of the Fund. The order stops Fawkner…
CommSec morning report Tuesday
In US economic data, ISM manufacturing index fell from 53 to 52.8 in July (survey: 52). the S&P Global manufacturing purchasing managers index fell from 52.7 to 52.2 in July (survey: 52.3). Construction spending fell by 1.1% in June (survey: +0.2%). European sharemarkets eased on Monday. The euro zone manufacturing purchasing managers index contracted in…
Evening report Monday
Following a strong end to the week in the US on Friday, the Australian sharemarket has lifted for a fifth straight day, with the ASX 200 up by 47.8 pts or 0.69 per cent to 6993 – around session highs. This is the market’s longest winning streak since April. Eight sectors and 110 stocks finished…
Evening report Tuesday
Following a widely expected increase in the cash rate, the Australian sharemarket clawed back a 0.69 per cent loss and secured its sixth straight gain, with the ASX 200 up 5.1pts or 0.07 per cent, to 6998.1. This is the longest winning streak since late March. Financial stocks (up 0.77 per cent) did much of…
