China’s home prices generally stable
China’s home prices in 70 large and medium-sized cities displayed a generally stable trend in July, according to data released by the National Bureau of Statistics (NBS) on Monday. New home prices in four first-tier cities – Beijing, Shanghai, Shenzhen and Guangzhou – edged up 0.3 percent month on month in July, according to the…
Crown Sydney casino – a beacon for potential dirty money
Crown Resorts’ striking new A$2 billion casino on Sydney’s Barangaroo Point opens its doors to gamblers for the first time this week. But only if they are “VIPs”. Its licence to operate remains conditional, after being found unfit to run a casino by the inquiry headed by former Supreme Court judge Patrica Bergin. Victorian and…
What’s causing Australia’s egg shortage?
Australia is experiencing a national egg shortage. Prices are rising and supermarket stocks are patchy. Some cafes are reportedly serving breakfast with one egg instead of two. Supermarket giant Coles has reverted to COVID-19 conditions with a two-carton limit. We became used to grocery shortages throughout the lockdowns of 2020 and 2021. These were due…
Salt caverns and minerals across Australia unlock our nation’s hydrogen industry
Australia has the right ingredients to become a global hydrogen superpower, according to new data from the Australian Government’s Exploring for the Future program. Speaking ahead of Geoscience Australia’s inaugural Exploring for the Future Showcase, Minister for Resources and Northern Australia Madeleine King said scientists had uncovered the potential for large-scale, underground storage of hydrogen…
Qantas’ proposed acquisition of Alliance Airlines
The ACCC has outlined preliminary competition concerns with Qantas Airways’ (ASX: QAN) proposed acquisition of Alliance Aviation Services Ltd (ASX: AQZ) in a statement of issues published today. In Australia, Qantas and Alliance provide air transport services to regional and remote areas for corporate customers. The airlines closely compete in the supply of these services…
5G tech enables comprehensive digital transformation
China has been expanding its 5G infrastructure at a rapid pace, utilizing the next-generation wireless technology to facilitate the digitalization of different sectors of the country. By the end of June, some 1.85 million 5G base stations have been built, supporting over 450 million end users, both accounting for over 60 percent of the global…
Stainless steel industry resilient
The Chinese market for stainless steel shows resilience and is brimming with opportunities, despite the disruption that COVID-19 has brought to the global stainless steel industry, according to industry insiders. As the world’s largest stainless steel producer and consumer, China saw its output rise 1.64 percent year on year to over 30.6 million tonnes in…
Bingo Industries pleads guilty to alleged demolition waste cartel
Waste company Bingo Industries has today entered pleas of guilty to criminal cartel offences relating to price fixing for demolition waste services in Sydney. Bingo was charged with these offences today after an investigation by the ACCC and referral to the Commonwealth Director of Public Prosecutions (CDPP). It is alleged that in mid-2019, Bingo agreed…
CommSec morning report Thursday
According to minutes of the US Federal Reserve July 26-27 policy-making meeting, “Participants agreed that there was little evidence to date that inflation pressures were subsiding.” But “many” participants also noted a risk that the Fed “could tighten the stance of policy by more than necessary to restore price stability.” In US economic data, retail…
Evening report Wednesday
The Aussie sharemarket extended its gains to a third straight session, with the ASX 200 up by 22.3pts or 0.31 per cent, to 7127.7. The Health Care sector fell most today, losing 0.8 per cent, in part due to a 1.3 per cent decline in the share price of CSL. Stocks in the Consumer Discretionary…
