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,…
What are companies telling us about recession risks?
Inflation is a concern for companies, so too recession. Indeed, the last time managements were talking this much about recession – they were in one. There was an unprecedented amount of inflation talk among US companies at the end of 2021. Inflation is still frequently mentioned in corporate discussions along with wages and supply chains….
Deep and wide – evaluating sustainability impact
Investors are now looking at sustainability through a different lens, trying to influence positive change by directing capital to address ESG challenges. As attitudes evolve, so too must the research strategies employed by the financial sector. Fidelity International’s Jenn-Hui Tan, Global Head of Stewardship and Sustainable Investing, joined forces with Ned Salter, Global Head of…
Evening report Friday
While a fall in most commodities overnight saw the Aussie market decline by as much as 0.53 per cent in early trade, the ASX 200 managed to claw back losses and finish on a flat note, just 2.8 pts or 0.04 per cent lower, to 6791.5. Three sectors finished higher, with gains in Tech and…
China oilfield company turns to green energy
What PetroChina Dagang Oilfield Company in north China’s Tianjin Municipality produces may be fossil fuel, but at least its oil is extracted from underground with green solar energy. At one of its facilities, a cluster of more than 20 oil wells run round the clock, all powered by electricity generated by over 150 photovoltaic (PV)…
