Gascoyne horticulture expansion to grow from water agreement
McGowan Government signs agreement with Gascoyne Water Cooperative to underpin horticulture expansion at Carnarvon Long running Gascoyne Food Bowl initiative supporting regional growth and jobs Irrigated agriculture expansion in the Gascoyne moved forward today with the McGowan Government taking steps to guarantee a reliable, high quality water supply to new and existing growers at Carnarvon….
$905 million taxi licence assistance deal passes
The NSW Government’s Point to Point Transport (Taxis and Hire Vehicles) Amendment Bill 2022 has passed Parliament, guaranteeing taxi licence holders an additional $760 million in financial assistance from early next year, taking the combined package value to $905 million. Minister for Transport, Veterans and Western Sydney David Elliott said the Government can now complete…
Rising coal storage amid supply push
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy regulator said Monday. Storage of coal at the country’s power plants has been above 170 million tonnes since September, according to the National Energy Administration. Faced with a grave and complex international energy situation, China has…
SmileDirectClub to pay $3.5m for misleading claims
The Federal Court has ordered SmileDirectClub Aus Pty Ltd and its US parent company, SmileDirectClub LLC (together SmileDirectClub), to pay penalties totalling $3.5 million and to compensate customers, after court action by the ACCC. SmileDirectClub admitted that between May 2019 and October 2020, it made false or misleading statements to consumers on its website and…
Unemployment rate hits record low
The NSW unemployment rate has reached a record low, falling to 3.2% (3.0% seasonally adjusted) in October, the lowest across the nation this month and the lowest since monthly records began in 1978. According to the latest ABS data released today, the NSW jobless rate was down 0.3 percentage points from September, driven by a rise…
More key worker housing introduced
A new urban renewal project within walking distance of Redfern station will include up to 600 build-to-rent and affordable homes, a new public parkland and the adaptive reuse of the heritage-listed Clothing Store building. Expressions of interest are open for industry partners to jointly develop and operate the site within the Clothing Store sub-precinct of…
BYD’s 3 millionth NEV rolls off production line
BYD, China’s leading new energy vehicle (NEV) manufacturer, said Wednesday that its three millionth NEV has rolled off the production line. From January to October, NEV sales of the Shenzhen-based carmaker surged 240 percent yearly to 1.39 million units. BYD ceased the production of traditional gasoline-powered vehicles in March. Starting as a niche brand and…
CommSec morning report Fri 18 November
In US economic data, housing starts fell from a 1.488 million annual rate to 1.425m in October (survey: 1.41m). Initial jobless claims fell from 226,000 to 222,000 (survey: 225,000). The Philadelphia Federal Reserve manufacturing index eased from -8.7 points to -19.4 points in November (survey: -6.2 points). The Kansas Fed manufacturing index rose from -22…
Evening markets report Thurs 17 November
The Aussie sharemarket edged higher to break a three day losing streak as the ASX 200 added 13.5 points or 0.2 per cent to 7135.7. Nine (of 11) sectors finished higher. The previous session’s largest gainers, energy and materials, lost 2.1 per cent and 1.2 per cent respectively to be the only sectors to close…
Wages lift – fastest growth rates in a decade
Latest economic data Wage growth, as represented by the Wage Price Index (WPI), grew by 1.00 per cent (to two decimal places) in the September quarter, the fastest quarterly growth rate in 10½ years (since March quarter 2012). Annual WPI growth lifted from 2.63 per cent in the June quarter to 3.13 per cent in…
