World’s largest offshore wind turbine off assembly line
A giant offshore wind turbine, with the world’s largest per-unit capacity, has moved off the production line in east China’s Fujian Province. The 16-megawatt wind turbine is equipped with a 146-meter hub, equal to the height of a 50-storied building, and has the world’s longest impeller diameter of 252 meters and the lightest per megawatt…
CommSec morning report Fri 25 November
US financial markets were closed on Thursday in observance of the Thanksgiving Day holiday. The latest meeting minutes of the European Central Bank (ECB) showed policymakers feared that inflation may be getting entrenched, justifying more rate hikes, but Reuters noted “for how long and how much remained a debate.” European sharemarkets closed higher on Thursday…
Evening markets report Thurs 23 November
The local sharemarket rose for the third consecutive session, after the ASX 200 added 0.14 per cent or 10 points to 7241.8. Performance was mixed however, with seven sectors (of 11) and 48 per cent of stocks in the ASX 200 finishing in positive territory. Gold miners St Barbara (SBM), Evolution Mining (EVN) and Ramelius…
$7.9 million boost for dairy industry
A $7.9 million investment will help the dairy industry recover and rebuild from floods, and better prepare for future natural disasters. The Dairy Sector Recovery Strategy is set to help the dairy industry recuperate and build long-term resilience after the February-March flooding event earlier this year. Funding provided from the jointly Commonwealth and NSW Government-funded Storm and…
RED Grants creating jobs & diversifying business
Five Kimberley projects share in $673,473 Regional Economic Development (RED) Grant funding McGowan Government investing in agribusiness, hospitality, tourism and energy solutions Five Kimberley projects will benefit from funding under round five of the McGowan Government’s Regional Economic Development (RED) Grants program. The McGowan Government’s RED Grants program has invested $45.8 million over eight years…
NQ Cranes ordered to pay $1 million
The Federal Court has ordered that overhead crane company NQ Cranes Pty Ltd pay a $1 million penalty after NQ Cranes admitted that it had entered into an anti-competitive cartel agreement with a competitor, in proceedings brought by the ACCC. NQ Cranes admitted contravening the Competition and Consumer Act by entering into a cartel agreement with…
Tackling complex challenges with technology
NSW businesses seeking to commercialise their innovative ideas can now help tackle some of the State’s most complex challenges through the second round of the NSW Government’s Small Business Innovation and Research (SBIR) program. As part of the program, NSW Government agencies outline specific problem areas that need to be addressed, with small business given…
ZTO Express income jumps 63%in Q3
ZTO Express, a leading express delivery company in China, saw its adjusted net income jump 63.1 percent to 1.87 billion yuan (260 million U.S. dollars) in the third quarter, up from the same period last year. The company reported a parcel volume growth of 11.7 percent, and its market share expanded 1.3 percentage points to…
ASIC sues Block Earner for unlicensed conduct
ASIC has commenced civil penalty proceedings in the Federal Court against fintech company Block Earner alleging it provided unlicensed financial services in relation to its crypto-asset based products and that it operated an unregistered managed investment scheme. Block Earner offered a range of fixed-yield earning products based on crypto-assets under the names USD Earner, Gold…
CommSec morning report Thurs 24 November
According to minutes of the US Federal Reserve Open Market Committee (FOMC) monetary policy meeting on November 1-2, “A substantial majority of participants judged that a slowing in the pace of [interest rate] increase would likely be appropriate.” In US economic data, durable goods orders rose by 1.0% in October (survey: +0.4%). New home sales…
