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Smarter buildings tackle health and energy

CANBERRA, AAP – Imagine a building that knows when to flush out deadly air. Building technology ‘evangelist’ Brian Turner says he wants to create comfortable spaces that people feel safe coming back to during a pandemic. “Think about any kind of space that’s going to house humans,” the chief executive at Buildings IOT told AAP…

Wall Street ends higher in robust rebound

NEW YORK, RAW – A broad rally sent Wall Street to a sharply higher close on Thursday, recovering ground lost over recent sessions as market participants snapped up bargains while digesting the implications of a shifting pandemic. All three US indexes advanced, with investors favouring value over growth, and economically sensitive smallcaps and transports outperforming…

Resilient ASX recovers most losses

SYDNEY, AAP – Investors have escaped more gloom about Omicron and earlier stimulus-tapering to end the ASX trading day with only minor losses. Shares were down 0.64 per cent after two hours of trading on Thursday but a second-half rally cut the losses. Technology shares fared worst and fell by more than three per cent….

Regions can take off with space program

CANBERRA, AAP – Ramping up Australia’s space capabilities will benefit all citizens, especially in rural and regional areas, a parliamentary inquiry has found. With the global space industry valued at about $471 billion and tipped to reach $1.5 trillion across the next 20 years, Australia is looking to tap into the market with a revenue…

Crown says no to latest Blackstone bid

SYDNEY, AAP – Crown Resorts has told Blackstone to improve its offer if the private equity group is to take control of the casino operator. Crown on Thursday declined the $8.46 billion offer ($12.50 per share) pitched last month but offered access to more financial data which could prompt Blackstone to raise its bid. The…

Coles ‘underpaid workers by $115 million’

CANBERRA, AAP – Supermarket giant Coles is being hauled to court accused of shortchanging more than 7500 workers by $115 million. The Fair Work Ombudsman alleges Coles underpaid 7812 employees between January 2017 and March 2020, some of them by up to $471,647. Most of the underpayments, totalling $115.2 million, relate to overtime entitlements for…

National budgets to improve as COVID ends

CANBERRA, AAP – Budget deficits across the nation are expected to improve as Australia emerges from the coronavirus pandemic, the independent Parliamentary Budget Office says. In its latest national fiscal outlook, which provides a combined outlook across all levels of Australian government, it shows the country recovered swiftly in the wake of the initial outbreak…

Apple loses bid to halt Australian case

SYDNEY, AAP – Tech giant Apple has lost a bid to prevent a case being heard in Australia that alleges it misused its market power over a popular online game. The High Court in Canberra on Thursday refused Apple special leave to appeal against a Federal Court judgment that prevented the American multinational corporation from…

Aust shares lower, tech shares worst

SYDNEY, AAP – A poor week for the ASX has continued as the latest coronavirus variant and inflation concerns weigh on trade. The market was down 0.64 per cent on Thursday and there were big falls across some share categories. Information technology shares plunged by more than three per cent. Afterpay lost almost five per…

Woolworths’ bid for API trumps Wesfarmers

SYDNEY, AAP – Woolworths has pitched an $872 million takeover offer for Australian Pharmaceutical Industries, pitting the retail giant against Wesfarmers. API on Thursday said Woolworths’ offer of $1.75 per share was superior to Wesfarmers’ bid of $1.55 per share. Woolworths boss Brad Banducci said health was a large, fast-growing category and API would be…