Consultations open to strengthen Australian Domestic Gas Security
Resources and Northern Australia Minister Madeleine King has opened consultations on ways to improve the operations of the Australian Domestic Gas Security Mechanism (ADGSM) to strengthen Australia’s domestic energy supply, and released a discussion paper on the reform options. Minister King has also announced the start of consultations with gas producers on a new Heads…
New mail shipping route launched between China and Australia
A new mail shipping route has been launched between Shenyang, capital of northeast China’s Liaoning Province, and Sydney in Australia, to meet the demand for international mail and cross-border e-commerce. On Thursday, a consignment of parcels left Shenyang for Liaoning’s port city of Dalian, from where it will be shipped to Sydney via sea, marking…
China’s dairy industry output up
China’s major dairy producers registered output growth in the first half of this year, official data showed. In the January-June period, major dairy producers saw their output rise 1 percent year on year to nearly 15.11 million tonnes, according to data from the Ministry of Industry and Information Technology. In June alone, dairy production stood…
LNG exporters must divert gas to the domestic market
The ACCC’s July 2022 Interim gas report, released today, forecasts the east coast of Australia could face a shortfall of 56 PJ in 2023. At the same time last year, our Gas Inquiry interim report found 2022 could face a 2PJ shortfall. “Our latest gas report finds that the outlook for the east coast gas market…
ASIC suspends licence of Alice Springs financial service provider
ASIC has suspended the Australian financial services (AFS) licence of Alice Springs-based financial services provider HJ Shortland & Co Wealth Management Pty Ltd (HJ Shortland & Co) for a period of six months effective 20 June 2022. The licence was suspended because HJ Shortland & Co has ceased to carry on a financial services business. …
CommSec morning report Monday
In US economic data, personal income rose 0.6% in June (survey: +0.5%) with spending up 1.1% (survey +0.9%). The core (excludes food and energy) personal consumption deflator (inflation measure) rose 0.6% to be up 4.8% over the year to June (survey +4.7%). The Chicago purchasing managers index fell from 56 to 52.1 in July (survey:…
Demystifying long and short funds
Long/short funds are a type of fund that aims to maximize the upside of markets, while limiting the downside risks. To do this, these funds take both long and short positions in investment positions, often from a specific market segment. Here we look at long / short funds in more detail, specifically how fund managers…
Running down a coal mine could beat selling it
BHP Group’s decision to wind down its Mount Arthur coal mine rather than sell to a private buyer will shorten the mine’s operating lifespan and reduce overall expected carbon emissions. It underlines how a strategy of running down a coal mine may beat divestment for real world carbon impact. “Would that it were so simple,”…
Evening report Friday
The Australian sharemarket managed to secure its fourth straight win on the final trading day of the week and month, with the ASX 200 up by 55.5pts or 0.8 per cent, to 6945.2. With the exception of healthcare stocks, all sectors improved on Friday. Property stocks climbed most (+2.94 per cent) and mining stocks lifted…
Business inflation at historic highs
The “final demand” component of producer prices (business inflation) rose by 1.4 per in the June quarter to be up 5.6 per cent on a year ago, the strongest annual growth rate in 13½ years (since December 2008). Private sector credit (broadly, outstanding loans) rose by 0.9 per cent in June to be up 9.1…
