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The Week Ahead

                                In Australia, investors will be starved of major economic data releases and monetary policy-related communication in the week ahead. But skilled internet job vacancies data, ANZ-Roy Morgan’s weekly consumer sentiment survey and the Commonwealth Bank’s manufacturing and services sector…

G7 says Libra should not launch until risks ‘adequately addressed’

Facebook should not launch its global digital currency Libra until proper regulations are in place to handle the potential risks, the Group of Seven said Thursday. And France’s Economy Minister Bruno Le Maire warned that a currency like Libra could undermine sovereign nations’ control over their exchange rates. “It’s a matter of democracy, not just…

Zuckerberg defends Facebook’s hands-off policy for politicians

Facebook chief executive Mark Zuckerberg on Thursday defended the huge social network’s policy of refraining from fact-checking politicians, saying it’s not the job of tech firms to “censor.” Speaking to students at Georgetown University in Washington, Zuckerberg responded to critics who argued that Facebook is enabling political leaders including President Donald Trump to propagate misinformation….

Trial set in New York on Exxon’s climate statements

Charges that Exxon Mobil misled investors on the financial risks of climate change will be heard in court this month after a New York judge gave the green light for a trial. The litigation dates to October of last year when the New York Attorney General filed suit against the oil giant on behalf of…

Europe endorses Brexit deal and urges UK MPs to back it

European Union leaders endorsed a hard-fought Brexit deal with Britain on Thursday, but Prime Minister Boris Johnson faces an uphill battle getting it through the British parliament. “It looks like we are very close to the final stretch,” EU Council President Donald Tusk told reporters after the other 27 leaders approved the accord. But despite…

CommSec Daily Report Friday

Latest News Sellers took charge of the session in opening trade on Friday, despite modest gains for US stocks overnight. The ASX 200 started the day around the unchanged mark before the Index retreated by as much as 50 points at the lowest level of the day so far. The softer tone came despite US…

Proposed GM contract lifts wages, closes 4 plants

General Motors’ proposed agreement to end a labor strike includes a wage increase and faster transition to fulltime status for temporary workers but permanently shuts four plants, according to a union summary released Thursday. The United Auto Workers said they achieved “key gains” during negotiations held during a strike launched on September 26, according to…

Dizzying times for the Brexit-driven pound

Five-month highs and frequent falls versus the dollar and euro — the British pound is at its most volatile in a year, dragged in different directions by Brexit twists and turns. Thursday was just the latest chapter in sterling’s rollercoaster ride, when it soared to $1.2990 on news of a new draft Brexit deal, only…

Samsung to deploy software patch after Galaxy S10 fingerprint flaw found

A flaw with Samsung’s top-end Galaxy S10 fingerprint system that allows the smartphone to be opened by a third party will soon be fixed, the tech giant said Thursday. A user in the UK told the Sun newspaper earlier this week her Samsung device could be unlocked by someone else simply by putting on a…

US manufacturing emerges from recession in Q3: Fed

US manufacturing recovered in the third quarter after a bruising start to the year in which President Donald Trump’s trade wars put a major dent in factory output, the Federal Reserve reported Thursday. But in the month of September alone, overall American industrial production pulled back as the nationwide strike at General Motors assembly plants…