Water and waste investing
In 2015, the United Nations launched its 17 Sustainable Development Goals (UNSDGs) as a blueprint for a more sustainable future. Along with heightened awareness of the risks presented by climate change,1 the UNSDGs elevated the importance of ESG issues within the global and economic agenda. Water and waste are now a direct focus for five…
Economics – Lifting the minimum wage
Stand by for something “reckless and dangerous”. That’s what former prime minister Scott Morrison said Prime Minister Anthony Albanese would be if he asked the Fair Work Commission to grant a wage rise big enough to cover inflation. It would make Albanese a “loose unit” on the economy. Yet Albanese and his industrial relations spokesman…
Friday evening report
The Aussie sharemarket has finished the last day of the week on a strong note. The S&P/ASX 200 commenced on a strong note and finished near session highs, adding 1.1 per cent or 76.8pts, to 7182.7. Energy stocks delivered the strongest gains and were led by an overnight rally in the oil price. The Financials…
Industrial profit growth slows in Jan-April
BEIJING – Profit growth of China’s major industrial firms slowed during the first four months of 2022, weighed down by the resurgence of domestic COVID-19 cases, official data showed on Friday. Profits of the firms each with annual main business revenue of at least 20 million yuan (about 2.97 million U.S. dollars) grew 3.5 percent…
Biggest lift in planned investment in a decade
The Australian Bureau of Statistics (ABS) said new business investment (spending on buildings and equipment) fell by 0.3 per cent in the March quarter but was still up by 4.5 per cent on the year. The cost of investment goods rose 2.2 per cent in the quarter to be up 6.6 per cent on the…
ASIC cancels AFS licence of Metal Alpha
ASIC has cancelled the Australian Financial Services (AFS) licence of NSW-based financial services provider Metal Alpha Pty Ltd, effective 19 May 2022. On 18 May 2022, Metal Alpha confirmed to ASIC that Metal Alpha was no longer carrying on a financial services business and had no intention to resume trading. On this basis, ASIC decided…
CommSec Friday morning report
In US economic data, the economy, as measured by GDP, contracted at a 1.5% annual pace in the March quarter (second estimate, survey: -1.3%). Initial jobless claims fell by 8,000 to 210,000 in the past week (survey: 215,000). Pending home sales dipped by 3.9% in April (survey: -2.1%). The Kansas City Fed manufacturing index eased…
CommSec Evening Report
Latest News Despite a strong start to trade, the Australian sharemarket finished at session lows after losing 49 points or 0.7 per cent, to 7106. The Tech sector was the only sector to finish in positive territory following a 1.5 per cent lift in the tech-heavy Nasdaq overnight. Falling coal and gold prices put pressure…
central bank conducts reverse repos to boost liquidity
BEIJING, – China’s central bank Thursday conducted 10 billion yuan (1.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system reasonably…
foreign trade up 7.4 pct in January-April
HOHHOT, – North China’s Inner Mongolia Autonomous Region saw robust foreign trade growth in the first four months of 2022, according to the regional commerce department. The region’s total import and export value hit 41.49 billion yuan (about 6.21 billion U.S. dollars) from January to April, up 7.4 percent year on year. Exports rose 27.8…
