ASIC commences proceedings against Australian Mines
ASIC has commenced civil penalty proceedings in the Federal Court against Australian Mines Limited (ASX: AUZ) for allegedly breaching its continuous disclosure obligations and its managing director Benjamin Bell for allegedly breaching his directors’ duties. On 19 February 2018, Australian Mines announced to the ASX that it had entered a term sheet for an offtake…
Production picks up pace at Tesla
SHANGHAI – A total of 10,000 vehicles had rolled off the production line by April 30 in U.S. carmaker Tesla’s Shanghai Gigafactory since it resumed production on April 19 after a brief hiatus, according to the company. In the first four months of this year, Tesla’s Shanghai factory delivered 183,686 vehicles, over 1.7 times the…
CommSec morning report Wednesday
Latest news In US economic data, the NFIB small business optimism index was unchanged at 93.2 in April (survey: 92.9). European sharemarkets rose from two-month lows on Tuesday. The pan-European STOXX 600 index rose by 0.7%, led higher by financial services stocks which rose 1.4%. Germany’s ZEW institute survey showed economic expectations lifting from -41…
CommSec Morning Report
Latest news • In US economic data, the Consumer Price Index (CPI) rose by 0.3% in April (survey: +0.2%) to be up 8.3% over the year (survey: +8.1%). Excluding food and energy (core CPI), prices rose by 0.6% in April (survey: +0.4%) to be up 6.2% on the year (survey: +6%). • European sharemarkets climbed…
China to inject new vitality into global recovery
DHAKA – China is set to drive global economic growth and inject new vitality into global recovery, a leading Bangladeshi economist told Xinhua in an interview on Monday. “China did well during COVID-19 which may be the example for other nations,” said Md Aynul Islam, general secretary of the Bangladesh Economic Association (BEA), noting that…
Chinese yuan weakens to 6.7134 against USD Tuesday
BEIJING, – The central parity rate of the Chinese currency renminbi, or the yuan, weakened 235 pips to 6.7134 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
The evening report
Latest News The Aussie sharemarket started the week on the back foot and was down as much as 1.6 per cent, before finishing 1.2 per cent or 85 points lower, to 7121. This comes after a rather weak lead from Wall St on Friday, where major indices closed lower for a fifth straight week. Locally,…
China’s foreign trade up 7.9 percent in first four months
BEIJING, – China’s total imports and exports expanded 7.9 percent year on year to 12.58 trillion yuan in the first four months of 2022, official data showed Monday. In U.S. dollar terms, total foreign trade came in at 1.98 trillion U.S. dollars in the period, up 10.1 percent year on year, according to the General…
the outlook of China’s economy
ST. GALLEN, Switzerland,- ABB remains bullish about the outlook of the Chinese economy and expects a boost from China to the firm’s electrification, automation and robotics business, said the chairman of the Swiss engineering and automation group. “We had significant order growth in the first quarter in China,” Peter Voser told Xinhua at the 51st…
China’s gold reserves
BEIJING, – China’s gold reserves stood at 62.64 million ounces at the end of April, unchanged from that at the end of March, central bank data showed Saturday. Official data also showed that China’s foreign exchange reserves fell to 3.1197 trillion U.S. dollars at the end of April, down 68.3 billion U.S. dollars, or 2.14…
