Delay to the ASX CHESS Replacement Project and Independent Review
ASIC and the Reserve Bank of Australia (RBA) (the regulators) acknowledge the recent announcement by ASX of the further delay to the Clearing House Electronic Sub-register System (CHESS) Replacement project. The regulators welcome the appointment of Accenture to provide an independent review of the new CHESS application software. This review is expected to assist ASX…
CommSec Moring Report Wednesday August 3, 2022
Latest news In US economic data, the JOLTs survey reported that job openings eased from 11.303 million in May to 10.698 million in June (survey: 11 million). According to Redbook, chain store sales in the past week were up by 15.5% on a year ago, compared with a 13.3% annual increase in the prior week….
International trade channels help enterprises expand globally
In the production workshop of Sirui Advanced Copper Alloy Technology Co., Ltd., based in Xi’an, capital of northwest China’s Shaanxi Province, a batch of high-tech metal materials was ready for export. Despite being located in the inland province, the company has extended its business tentacles to the world. It is a vital supplier to several…
RBA Monetary Policy Decision
At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.75 per cent. The Board places a high priority on the return of inflation to the 2–3 per cent range over time, while keeping the economy on an…
Historic lift in inflation
The Melbourne Institute monthly headline inflation gauge rose by 1.2 per cent in July – the biggest monthly rise in 20 years. The annual rate rose from 4.7 per cent to a 19-year high of 5.4 per cent. In July, ANZ job ads fell by 1.1 per cent – only the second fall in the…
Home prices slump; Manufacturers lose confidence
The CoreLogic Home Value Index of national home prices fell by 1.3 per cent in July, the third straight monthly decline. Home prices fell in five of eight capital cities in July. Across the regions, 29 out of the 88 SA4 regions recorded flat or higher home prices in July, down from 49 regions in…
Mapping out Australia’s path to tech jobs future
A pathway to help the Australian Government reach its target of 1.2 million tech-related jobs by 2030 has been laid out in a new report from the tech sector. Getting to 1.2 million: Our roadmap to create a thriving Australian tech workforce is the product of a collaboration between tech industry groups brought together at…
ACCC launches Your First Steps to help parents
Parents and carers can get the latest, most reliable information on best practices to keep their baby safe and unsafe products, as part of a new ACCC initiative. Your First Steps (www.babyproductsafety.gov.au), launched today by the ACCC, is a dedicated website, where parents and carers can go for safety advice on how they can protect their…
China’s agricultural product prices increase
The wholesale prices of China’s agricultural products rose slightly last week, data from the Ministry of Agriculture and Rural Affairs showed. From July 22 to 28, the China agricultural product wholesale price index came in at 123.33, edging up 0.3 points week on week, according to the ministry. On a weekly basis, the average wholesale…
Shenzhen rolls out fully autonomous vehicles
The southern Chinese metropolis of Shenzhen Monday started allowing fully autonomous vehicles to run on certain roads as a local regulation on smart and internet-connected vehicles went into effect. It stipulates that fully autonomous automobiles without drivers can run on roads in areas designated by the local traffic management department. The regulation also sets rules…
