CommSec Morning Report 15 August 2022
Latest news In US economic data, import prices fell by 1.4% in July (survey – 1.0%) but were up 8.8% on the year. Export prices fell by 3.3% in July (survey: -1.1%) but were 13.1% higher on a year ago. The preliminary University of Michigan consumer sentiment index lifted from 51.5 to 55.1 in August…
Fixed income returns to the winner’s podium
The good news is fixed income assets posted strongly positive returns in July. The bad news is why. Central banks’ aggressive tightening of monetary policy to fight inflation is raising concerns of a material slowdown in growth, with recession an increasing possibility, The global economy is in the midst of a marked slowing, and recessionary…
New national lab boosts Australia’s vaccine and drug sovereign capability
Australian biomedical innovations are receiving an extra boost as Australia’s national science agency CSIRO contributes to filling in the ‘missing link’ in our vaccine and pharmaceutical pipeline. Opening the new National Vaccine and Therapeutics Lab in Melbourne today, Minister for Industry and Science the Hon. Ed Husic MP said investing in skills and infrastructure is…
Playing the green card
Climate change remains one of the most significant risks facing the global community. In response to investor demand, sustainability-labelled investments have more than doubled between 2019–21 in our region alone, according to Morningstar Australia. Globally, Bloomberg Intelligence estimates environmental, social and governance (ESG) assets are projected to exceed US$53 trillion by 2025 and represent more…
ASIC cancels AFS licence of Rizzak Capital Pty Ltd
ASIC has cancelled the Australian financial services (AFS) licence of Rizzak Capital Pty Ltd (Rizzak Capital). The licence was cancelled because Rizzak Capital failed to comply with the key person condition of its AFS licence and failed to lodge its financial statements and audit opinions for the financial years ended 30 June 2020 and 30…
Resources sector urged to plan for workforce and skills
Minister for Resources and Northern Australia Madeleine King has hosted a roundtable on jobs and skills in the mining sector and urged the industry to do more to encourage women to have careers in the resources sector. Minister King heard from industry about what they are doing to invest in, develop and attract skilled workers…
Woolworths’ acquisition of MyDeal not opposed
The ACCC will not oppose Woolworths’ (ASX: WOW) proposed acquisition of online retailer MyDeal (ASX: MYD). Woolworths, through its Big W stores and supermarkets, and MyDeal, through its online marketplace, sell a variety of general merchandise products to consumers including furniture, health and beauty products, homewares and electronics. In addition to retailing their own products,…
China reports record car exports in July
China’s exports of automobiles reached a new monthly record in July, industrial data showed Thursday. The country’s auto firms exported about 290,000 units of cars last month, up 67 percent year on year and 16.5 percent over June, according to the China Association of Automobile Manufacturers. July’s exports of new energy vehicles totaled 54,000 units,…
Market exchange rates in China — Aug. 12
The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Friday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 674.13 Euro 100 695.50 Japanese yen 100 5.0663 Hong Kong dollar 100 85.992 British pound 100…
CommSec Morning Report Friday
Latest news In US economic data, the producer price index (PPI) fell by 0.5% in July but was up by 9.8% on the year (survey: +10.4%). The core PPI (ex-food and energy) rose by 0.2% in July to be 7.6% higher on a year ago (survey: +7.7%). Initial jobless claims rose by 14,000 to 262,000…
