What a new world order might mean for the global economy
Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was…
Keeping the ESG revolution moving
In the heightened tensions of the current geopolitical environment, the debate around sustainable investing has intensified. On the ground, our 2022 ESG Analyst Survey provides signs of how companies are making progress, but much more needs to be done. Fidelity’s 2022 survey of analysts on sustainability issues comes at a delicate moment. Sustainable investing has…
The Week Ahead – 8 July 2022
Australia: Jobs and confidence surveys are the highlights In the coming week, Aussie job data and confidence surveys dominate the economic data docket. The week kicks-off on Tuesday when the Commonwealth Bank (CBA) Household Spending Intentions (HSI) index for June is issued alongside the Australian Bureau of Statistics (ABS) Household Spending Indicator for May. Also…
Markets evening report
Following a strong rally across global equity markets overnight, the ASX 200 rose for a second straight session, lifting by 30 pts or 0.45 per cent, to 6678. The local Energy sector climbed 2.1 per cent and managed to avoid posting a back-to-back loss, following a rebound in oil prices to above US$100 per barrel….
Market exchange rates in July 8
– 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 100 670.98 Euro 100 682.20 Japanese yen 100 4.9334 Hong Kong dollar 100 85.495 British pound…
Measures to spur automobile consumption rolled out
China has unveiled a slew of measures to invigorate automobile circulation and boost auto consumption, as multiple factors have weighed heavily on the industry. The Ministry of Commerce and 16 other government departments have detailed 12 specific measures in six aspects to inject impetus into the auto sector, Vice Minister of Commerce Sheng Qiuping announced…
Plans to improve gig economy services to boost employment
China plans to bolster support for the development of the gig economy in its latest bid to boost employment. Recruitment information of odd jobs will be incorporated into the scope of public employment information services, according to a guideline issued Thursday by the country’s human resources and social security ministry and other four government agencies….
ASIC issues civil penalty proceedings
ASIC has commenced civil penalty proceedings in the Federal Court against Lanterne Fund Services Pty Ltd (Lanterne), alleging multiple failures to meet the obligations of its Australian financial services licence, including a failure to meet organisational competence requirements. ASIC also alleges that Lanterne, under a ‘licensee for hire’ business model, failed to have adequate risk…
CommSec morning report Friday
In US economic data, according to Challenger there were 32,517 job cuts in June – the highest since February 2021 (survey: 20,000). The trade deficit improved from US$86.7 billion to US$85.5bn in May (survey: US$84.9bn). New claims for unemployment insurance rose by 4,000 to 235,000 in the past week (survey: 230,000). European sharemarkets were firmer…
Evening Report Thursday
Latest News A strong rebound in the local Materials sector paved the way for a rally in the Aussie market, with the ASX 200 up by 53.5 pts or 0.81 per cent, to 6648. Five sectors and 123 stocks finished higher. Mining stocks rebounded 2.5 per cent after posting a 5.0 per cent loss yesterday…
