ASIC charges three in alleged mortgage scam
On 16 June 2022, Brent Lindsay Smith and Fue Hiedi Mano of St Albans, Victoria, and Mahmoud Khodr of Melbourne, Victoria, appeared in the Melbourne Magistrates Court charged with criminal directors’ duties breaches relating to ‘interest-free’ mortgages offered by Remedy Housing Pty Ltd. It is alleged that between November 2019 and February 2021, the directors…
CommSec morning report Friday
In US economic data, housing starts fell by 14.4% in May to a 1.549 million annualised rate (survey: 1.69m). Building permits dipped 7.0% in May to a 1.695 million annualised rate (survey: 1.78m). The Philadelphia Fed manufacturing index fell from +2.6 points to -3.3 points in June (survey: +5 points). Initial jobless claims fell by…
China capable of meeting 3-percent CPI target
BEIJING, – China will see its consumer price index (CPI) continue to run within a reasonable range and is capable of attaining the 3-percent annual target amid the global inflation surge, an official said Thursday. “China’s inflation level is far lower than that of major economies such as the United States and the European Union,…
CommSec Evening Report
Latest News • The Aussie sharemarket wiped out gains of around 1.1 per cent and finished near session lows, after the ASX 200 shed 0.15 per cent or 9.9 pts to 6591.1. The strong start shadowed the performance of US markets, which surged after the US Federal Reserve increased its Federal Funds target rate by…
China allocates relief funds for crop pest control
BEIJING, – China has allocated 673 million yuan (about 100.3 million U.S. dollars) worth of agricultural relief funds to support crop pest prevention and control, according to the Ministry of Finance. The relief fund will be used to purchase pesticides and equipment for the prevention and control of major crop diseases and pests to ensure…
home prices continue to ease in May
BEIJING, – China’s home prices in 70 large and medium-sized cities continued the downward trend in May, though the pace of decline slowed, the National Bureau of Statistics (NBS) said Thursday. In May, 43 out of the 70 cities saw a month-on-month drop in new home sales prices, down from 47 in April, data from…
China to support private investment
BEIJING, June 15 (Xinhua) – China will support private investment and take forward projects that deliver multiple effects as part of the efforts to better spur effective investment, consumption and employment, according to a decision made at the State Council’s Executive Meeting chaired by Premier Li Keqiang on Wednesday. The meeting highlighted the imperative to…
CommSec Morning Report Thursday June 16, 2022
Latest news • The US Federal Reserve increased its target range for the Federal Funds rate by 75 basis points (three-quarters of a percent) to 1.50%- 1.75%, the biggest rate hike since November 1994. • In US economic data, retail sales fell by 0.3% in May (survey: +0.2%). Import prices lifted 0.6% in May (survey:…
Allianz and AWP plead guilty to ASIC
Allianz Australia Insurance Limited (Allianz) has pleaded guilty to six criminal charges, and AWP Australia Pty Ltd (AWP) to one criminal charge, of making false or misleading statements. The charges relate to the sale of Allianz domestic and international travel insurance products and statements published online on various domestic, basic and comprehensive travel insurance web…
China’s surveyed urban unemployment rate down to 5.9 pct in May
BEIJING, – China’s surveyed urban unemployment rate stood at 5.9 percent in May, down 0.2 percentage points from April, official data showed Wednesday. A total of 5.29 million new urban jobs were created from January to May, data from the National Bureau of Statistics showed. In May, the surveyed urban unemployment rate among those aged…
