Australia-Japan strengthen critical minerals cooperation
Australia and Japan have signed a new partnership on critical minerals to help build secure supply chains for critical minerals, which are crucial elements of clean energy technologies needed to help both countries meet net-zero commitments. The new Critical Minerals Partnership was signed by Minister for Resources and Minister for Northern Australia Madeleine King and…
ACCC to review Virgin and Alliance agreement
The ACCC is seeking submissions on a draft determination issued today proposing to deny authorisation to an extension of a Charter Alliance Agreement between Virgin Australia Airlines, Virgin Australia Regional Airlines (VARA) (together Virgin Australia) and Alliance Aviation Services (ASX:AQZ) and Alliance Airlines Pty Ltd (together, Alliance Airlines). “At this stage, the ACCC is not…
ASIC places interim stop order on Westlawn Income Fund
ASIC has made an interim stop order preventing Westlawn Financial Services Limited (Westlawn) from offering or distributing the Westlawn Income Fund (the Fund) to retail investors because of a non-compliant target market determination (TMD). The order stops Westlawn from issuing interests in, giving a product disclosure statement for or providing general advice to retail clients…
CommSec morning report Monday 24 October
In US economic data, the budget deficit widened from US$220 billion to US$430 billion in September (survey: -US$173.5bn). European sharemarkets were mixed on Friday. Mainland European bourses were weighed down by poor earnings updates. Shares in Adidas fell by 9.5% after it cut its full year outlook. But the UK FTSE rose on the back…
Is a global recession looking likely?
Economics is confusing at the best of times. But, at the moment, it’s downright counter-intuitive. Inflation is at its highest in decades, and we’re feeling the pain of the lower real wages that brings. Meanwhile, unemployment is its lowest in half a century, with virtually anyone who wants a job able to get one. Interest…
Australia needs a conversation about tax and budgets
Jim Chalmers is a wily operator. Ahead of delivering his first budget next Tuesday, he has given himself room to do the things a treasurer needs to do. For a while, his predecessor Josh Frydenberg denied himself that room. In his first budget as treasurer under Scott Morrison ahead of the 2019 election, Frydenberg promised…
Market love and unfaithfulness
The love of growth is the root of all of evil, including corporate losses, lousy cash flows and inflation. Some companies – and whole economies – are starting to pay the price of their unfaithfulness to sound business principles and economic discipline. The ASX rallied sharply in July on expectations central banks would lose their…
Evening markets report Friday
The local sharemarket largely mimicked trade seen on Wall Street overnight, and extended its declines to a second straight day after the ASX 200 shed 0.8 per cent or 53.9 points to 6676.8. Ten (of 11) sectors and roughly 66 per cent of stocks in the ASX 200 lost ground. The Big 4 banks all…
Support for critical minerals breakthroughs
The Albanese Government is accelerating the growth of the critical minerals sector and supporting clean-energy technologies through new initiatives as part of efforts to reach net zero. A new National Critical Minerals Strategy is being developed in consultation with industry and community stakeholders, including traditional owners. Australia has some of the world’s largest reserves of…
Helping farmers get feed to flood affected livestock
The NSW Government has today announced a new Agricultural Commodities Permit to support farmers affected by flooding and needing to transport stock feed. Minister for Regional Transport and Roads Sam Farraway said the Government is working with industry to ensure heavy vehicles get the access they need along key transport links. “We all know that…
