Australia-US talks to strengthen high-tech cooperation
Minister for Industry and Science Ed Husic has met with United States Secretary of Commerce Gina Raimondo in Washington to further strengthen commercial ties, cooperation and Australia’s economic integration with the US. “This meeting provided an opportunity to reinforce Australia as a safe, secure partner in scientific and technological collaboration. Our alliance is stronger and…
China willing to promote economic cooperation with Australia
China is ready to work with Australia to expand cooperation while managing differences in line with important consensus between the leaders of the two countries, in order to push forward bilateral economic and trade cooperation, a Ministry of Commerce official said on Thursday. Yang Tao told a press conference that the state leaders’ meeting in…
Wilsons Advisory and Stockbroking faces Markets Disciplinary Panel
Wilsons Advisory and Stockbroking Ltd ACN 010 529 665 (Wilsons) has paid a penalty of $548,328 to comply with an infringement notice given by the Markets Disciplinary Panel (MDP). ASIC contacted Wilsons in March 2022 after conducting a thematic review of Trade with Price Improvement (TWPI) reported by market participants. TWPI is one of the…
CommSec morning report 3 February 2023
The European Central Bank (ECB) hiked its benchmark policy rates by 50 basis points. The deposit rate lifted to 2.5%, the highest level since November 2008. And the Bank of England raised the bank rate by 50 basis points to a 14-year high of 4%. In the US, initial jobless claims fell by 3,000 to…
Evening markets report 2 February 2023
The Australian sharemarket lifted again on Thursday, supported by a positive, but volatile, session on Wall Street. Investors digested the 25 basis point lift in the federal funds rate by the Federal Reserve. While further ongoing increases in rates were flagged, US Federal Reserve chair Jerome Powell noted that the “disinflationary process” had begun. The…
China’s rosy prospects boost global growth confidence
China’s economy is expected to recover faster thanks to good fundamentals, effective macro-policy response, and optimized pandemic prevention and control policies, which will boost global growth expectations, observers said. The International Monetary Fund (IMF) on Monday projected China’s economy will grow by 5.2 percent in 2023, 0.8 percentage point higher than October 2022 forecast. “Growth…
New $5 Banknote Design
The Reserve Bank has decided to update the $5 banknote to feature a new design that honours the culture and history of the First Australians. This new design will replace the portrait of Her Majesty Queen Elizabeth II. The other side of the $5 banknote will continue to feature the Australian Parliament. This decision by the…
China launches IPO reform
The China Securities Regulatory Commission (CSRC) started soliciting public feedback on the main rules of the across-the-board registration-based initial public offerings (IPOs) on Wednesday, officially kicking off the across-the-board reform. The reform, with institutional arrangement basically fixed, will cover all national securities exchanges and all types of public offerings of stocks, as well as preferred…
CommSec morning report 2 February 2023
The US Federal Reserve lifted the federal funds rate by 25 basis points, the smallest hike since March 2022, to a range of 4.50%- 4.75%, the highest level since October 2007. In the US, ADP payroll employment rose by 106,000 in January (survey: +180,000). JOLTS job openings rose from 10.44 million to a 5-month high…
$3 million boost for regional media
A new $3 million fund is set to bring to life projects to help regional media outlets tell stories in new ways and ensure regional communities have access to trusted news sources covering the stories that matter to them, thanks to the NSW Liberal and Nationals Government. Deputy Premier and Minister for Regional NSW Paul…
