Unlocking the power of offshore wind in Gippsland
Joint media release with the Minister for Climate Change and Energy, the Hon Chris Bowen MP, and Victorian Minister for Energy and Resources, the Hon Lily D’Ambrosio MP The Albanese and Andrews Governments today joined Wellington Shire Council, local community members and industry to formally declare the Bass Strait off Gippsland as Australia’s first offshore…
West Australian arrested and charged with insider trading offences
Cameron Waugh, of Cottesloe, WA, has been arrested by the Australian Federal Police after ASIC charged him with offences relating to insider trading and subsequently sought a warrant for his arrest. ASIC alleges that Mr Waugh traded in shares of Genesis Minerals Limited on the ASX from 14 September 2021 to 20 September 2021, while…
Pumped Hydro project powers ahead with $7 million grant
Up to 400,000 NSW households could soon be powered by renewable electricity generated at the Phoenix Pumped Hydro station after the project received $7 million in support from the NSW Government to progress feasibility studies. The Phoenix Pumped Hydro project, located at the Burrendong Dam, near Wellington and within the Central West Orana REZ, will provide 810MW of…
CommSec morning report Tues 20 December
In US economic data, the NAHB housing market index fell from 33 to 31 in December (survey: 34), the lowest since June 2012, excluding the onset of the Covid-19 pandemic. European sharemarkets climbed on Monday, with energy shares up 1.7%, as oil prices were supported by hopes for a demand leading indicator, the Ifo index,…
New used car ratings reveal safest vehicles on the market
Victorians in the market for a used car are being urged to prioritise safety, with the release of the 2022 Used Car Safety Ratings. Minister for Roads and Road Safety Melissa Horne said this year’s ratings show that people driving in the lowest rated car are eight times more likely to die or be seriously…
Shared Equity Home Buyer Helper expanded
Paramedics and early childhood educators will be able to buy their own home through the NSW Government’s Shared Equity Home Buyer Helper after the eligibility criteria was expanded to include more key workers. A lending partner has also been appointed ahead of the program’s launch next month, which will support single parents and older singles…
Resources and energy export earnings to hit new highs
Demand for materials used in low-emissions technology is helping to drive Australia’s forecast resources and energy export earnings to new highs, on top of ongoing strong global demand and prices for energy. The Resources and Energy Quarterly publication for the December quarter, published by the Department of Industry, Science and Resources, forecasts Australian resources and energy exports…
NSW to reform casino tax rates
Casino tax arrangements will be reformed by the NSW Government to help fund vital services. The proposed increases are anticipated to commence on 1 July 2023 and include tax rates on what the casinos earn from gaming tables and poker machines. They are forecast to raise an additional $364 million over the next three years. Treasurer Matt…
ASIC cancels or suspends twenty-one Australian credit licenses
ASIC has cancelled or suspended twenty-one Australian credit licences for failing to be a member of the Australian Financial Complaints Authority (AFCA). Australian credit licence holders are required by law to be a member of AFCA. AFCA membership gives consumers access to a free, fair, and independent dispute resolution scheme if a complaint is not…
CommSec morning report Mon 19 December
In US economic data, the preliminary S&P Global manufacturing purchasing managers’ index (PMI) fell from 47.7 to 46.2 in December (survey: 47.8), the lowest level since May 2020. The services PMI dropped from 46.2 to 44.4 in December (survey: 46.5), its sixth consecutive month of contraction. European sharemarkets fell on Friday on investor concerns about…
