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Job vacancies lift

Annual growth of public sector wages hits record low Strongest lift in job vacancies for 2 years Wage Price Index; Skilled job vacancies Wages: The wage price index rose by 0.5 per cent in the December quarter (consensus: +0.5 per cent). Annual wage growth was steady at 2.2 per cent in the December quarter –…

Westpac warns of mounting regulatory costs

Westpac has warned bushfires, storms and the coronavirus outbreak will compound the mounting regulatory costs and fallout from legal action following last year’s money laundering and child exploitation scandal. The big four lender expects to “incur additional expenses” and will “reconsider its current cost growth expectations” as the number of investigations into its business pile…

Australian shares directionless at noon

Shares have traded marginally higher on the Australian Securities Exchange as gains in healthcare and consumer discretionary stocks overtook falls in the info-tech sector. The benchmark S&P/ASX200 index was up 4.3 points, or 0.06 per cent, to 7,118 at noon AEDT on Wednesday amid directionless trade after US markets and oil slid overnight on another…

Boeing finds new problem with 737 MAX jets

Embattled US aviation giant Boeing is facing another issue with its grounded 737 MAX series, as the aeroplane manufacturer works to get the aircraft series in the air again. Foreign object debris was found in fuel tanks of some of the aircraft during maintenance work while they were being kept in storage, Boeing said on…

CommSec Daily Report Wednesday

Latest News The Aussie market is edging lower at lunch on Wednesday after a fairly flat start to the session. The ASX 200 is down 8 points at 7105 after swinging between small gains and losses. There has been another deluge of companies reporting profit results today which has prompted market moves. The muted start…

Dominos H1 profit up 29%, higher payout

Domino’s Pizza has lifted its first-half net profit 29.8 per cent to $69.2 million following strong online delivery sales and a record number of new stores opening worldwide, and will put an increased interim dividend in shareholders’ pockets. The company’s Australia and New Zealand arm lifted revenue from continuing operations by $137.1 million to $343…

UK’s EG Group makes Caltex takeover bid

Caltex Australia says Britain’s EG Group has offered to acquire the company for $3.9 billion in cash and separate shares to be issued in a newly listed company on the ASX. The offer from the British retailer includes the sum to buy Caltex’s convenience retail business and a stake in a new company, Ampol, under…

Classic Holdens ‘to jump in value’

The demand for classic Holden cars is set to surge following General Motors’ decision to shut down the brand by the end of the year, a leading auction house says. Lloyds Auctions chief marketing officer Brett Mudie said inquiries about vintage and iconic models has jumped, literally overnight. “The value of Holden classics has always…

Strike action against Jetstar returns

Hundreds of airport workers have united for a 24-hour strike against aviation company Jetstar, for better wages and more hours. Workers first held strikes in December last year and will return to the tactic on Wednesday, after the Transport Workers Union accused the budget airline of proposing an agreement “designed to keep Jetstar workers impoverished”….

Apple sales warning drags down Wall Street

Technology stocks have dragged down Wall Street after a surprise sales warning from bellwether Apple fanned worries about the impact of the coronavirus outbreak on global supply chains. The world’s most valuable technology firm said it was unlikely to meet its March-quarter sales guidance because of slower iPhone production and weaker demand in China, sending…