Evening markets report Fri 2 December
The Australian sharemarket wrapped the final session of the week around session lows, snapping three straight days of gains in the process, with the ASX 200 falling 0.7 per cent or 52.9 points to 7,301.5. Energy and Financials were some of the worst performing sectors, driven by a 2.6 per cent fall in Woodside Energy…
Creating a new vision for Australia’s critical minerals
The Australian Government has released a discussion paper and opened public consultations on the future of Australia’s critical minerals industry and how the sector can grow to help Australia become a clean energy superpower. Minister for Resources and Northern Australia Madeleine King said the consultations would inform the Government’s new Critical Minerals Strategy and help…
$58 million contract for large water mains manufacturing
Water Corporation contract to see extra-large steel water mains manufactured in WA Contract will support local jobs and manufacturing in Kwinana Industrial Area Larger pipes to reduce greenhouse gas emissions at new Alkimos Seawater Desalination Plant Extra-large steel water pipes will be produced in Western Australia for the first time, under a new $58 million…
Health funds continue to return profits
Health insurers have handed back to policyholders about $2.1 billion of the profits they gained from a reduction in claims between the start of the pandemic and 30 June 2022, the ACCC’s latest report into the private health insurance industry has found. Figures submitted by insurers to the Department of Health and Aged Care show insurers’ estimated…
Establishing the $15 billion National Reconstruction Fund
Joint media release with the Prime Minister Anthony Albanese MP and Minister for Finance, Senator Katy Gallagher The Albanese Government has introduced legislation to Parliament to establish the $15 billion National Reconstruction Fund, a key election commitment. The National Reconstruction Fund (NRF) will support, diversify and transform Australia’s industry and economy, helping to create secure,…
Startup support to grow the economy
Startups looking to fuel their growth can now apply for the $40 million expansion of the NSW Government’s highly successful Minimum Viable Product (MVP) grant program. Minister for Enterprise, Investment and Trade Alister Henskens said the revamped MVP Ventures program will increase the maximum funding available from $25,000 to $200,000 per company, widening the eligibility…
Interim stop orders placed on three funds
ASIC has issued interim stop orders preventing Australian Fiduciaries Limited (AFL) from offering or distributing three funds to retail investors because of deficiencies in their target market determinations (TMDs). These funds are: Global SRI Ethical Alpha Fund (ARSN 629 361 315) Global SRI All Seasons Fund (ARSN 629 361 600) Global SRI Multi-Strategy Fund (ARSN…
CommSec morning report Fri 2 December
In US economic data, personal income rose by 0.7% in October (survey: +0.4%). Personal spending lifted by 0.8% in October (survey +0.8%). The key inflation measure – the core PCE deflator – lifted by 0.2% in October to be up 5% on the year (survey: +5%). Construction spending fell 0.3% in October (survey: -0.2%). The…
Evening markets report Thurs 1 December
The Australian share market closed higher, reaching 7 month highs in the process, buoyed by positive sentiment from Wall St overnight. This is off the back of comments by the Chairman of the Federal Reserve signalling a slowing down in the pace of rate hikes. The ASX 200 index rose 1 per cent or 70.2…
NBN Co submits revised Special Access Undertaking variation
The ACCC has today published NBN Co’s revised proposed variation to its Special Access Undertaking and the material that NBN Co has so far provided in support of its proposal. The Special Access Undertaking is a key part of the regulation of the NBN. It sets the rules for broadband providers to access the NBN over the…
