All news

Brexit downs May, Johnson stakes claim

Fighting back tears, Theresa May said she would quit after failing to deliver Brexit, setting up a contest that will install a new British prime minister who could pursue a cleaner break with the European Union. May’s departure deepens the Brexit crisis as a new leader, who should be in place by the end of…

Property taxes to grow in Vic budget

Victorians property owners will face millions of dollars in new taxes to be unveiled in this year’s state budget. Treasurer Tim Pallas is expected to officially announced increased property taxes for heritage property and residential land owners on Saturday as well as an increase for foreign investors. The taxes are designed to go some of…

China accuses US of lying about trade war

China has accused US officials of lying to the public about their trade war, as rising tensions between the world’s two largest economies kept financial markets in a state of unease. Talks to end the trade dispute collapsed earlier this month, with the two sides in a stalemate over US demands that China change its…

The Weak Ahead – May 24th

In the coming week in Australia, updates on business investment, building approvals and credit growth feature on the data docket. The figures on investment spending will help formulate views on economic growth for the March quarter. The Memorial Day public holiday is observed in the US on Monday. Financial markets are closed. But over the…

ASX closes lower as energy stocks drop

The Australian share market has finished lower after the price of oil plunged, sending energy stocks into a tailspin. The benchmark S&P/ASX200 index finished down 35.8 points, or 0.55 per cent, to 6,456 points at 1515 AEST on Friday, while the broader All Ordinaries was down 38.7 points, or 0.59 per cent, to 6,545.6. The…

Traditional owners in court over Adani

Some traditional owners of land on which Adani’s proposed coal mine sits are in court seeking to bolster their appeal against the mining giant. Their hearing comes as Queensland Premier Annastacia Palaszczuk set a mid-June deadline for the completion of two outstanding state approvals for the controversial mine in the Galilee Basin. An appeal by…

Gold-speckled fungi discovered in WA

Fungi that draws gold from its surroundings has been discovered in Western Australia, stunning scientists who say it could signal new deposits. Found near Boddington south of Perth, the strain of the fusarium oxysporum fungus attaches gold to its strands by dissolving and precipitating particles from the environment. There may be a biological advantage in…

RBA will cut to 0.75%: Westpac economist

The Reserve Bank will go further than previously thought by cutting the cash rate not two, but three times before 2019 is over, according to a leading economist. Westpac senior economist Bill Evans, who in February became the first top economist from Australia’s big four banks to predict two rate cuts this year, said on…

Healthscope buyout gets final approval

The Federal Court has given final approval to Brookfield Asset Management’s $4.4 billion buyout of private hospital operator Healthscope. The court’s orders are expected to be lodged with the Australian Securities and Investment Commission later on Friday, making it legally effective. Healthscope shares will also be suspended from trading from Friday, with its place in…

CommSec Daily Report Friday

Latest news The Australian market is falling for a second day, as concerns of a deepening US-China trade war is fuelling a flight to safety for local equities. The ASX 200 is down 0.7 per cent or 45pts to 6445 with energy and banking stocks the main weights. Both the US and China have been…

Best Resources & Offers