Breaking news

NY Fed to pump another $75 bn into money markets Friday

For a fourth straight day, the New York Federal Reserve Bank on Friday will inject billions into US money markets to preserve the US central bank’s control over short-term interest rates. The New York Fed said in a statement on Thursday it will again conduct a repurchase agreement operation of up to $75 billion to…

CommSec Daily Report Friday

Latest News Aussie shares are off to a solid open on Friday with the ASX 200 lifting by 47 points or 0.7 per cent to 6765 heading into lunch on Friday. The gains are despite a relatively lacklustre lead from Wall Street as investors continue to digest the recent Fed move to cut rates and…

Facebook making ads more playful

Facebook said Thursday it will let advertisers pack more fun into marketing messages with augmented reality, games and playful polls to prompt interactions. People using the leading social network or its Instagram or Messenger services could be enticed with ads that ask for opinions, invite game moves, or tap into camera capabilities to provide a…

EU says gas supply talks with Russia, Ukraine ‘constructive’

The EU official involved in talks with Russia and Ukraine to ensure gas supplies into Europe said that “constructive” three-way negotiations were held in Brussels Thursday, but agreement on a longterm contract was still elusive. Russia accepted that EU rules will reign over supplies under a future contract still being worked out, the European Commission…

Airbnb announces plans to go public in 2020

Airbnb, the internet home stay company which disrupted the hotel and travel industry, said Thursday it plans to make its stock market debut next year but offered few details. Launched in 2008, the company is considered a “unicorn,” a startup valued at more than $1 billion even before its initial public offering. The stock launch…

Huawei in public test as it unveils sanction-hit phone

Chinese tech giant Huawei launched its latest high-end smartphone in Munich on Thursday, the first of its mobile devices not to carry popular Google apps because of US sanctions. “Today because of the US ban… we cannot pre-install” Google’s applications, said Richard Yu, who heads Huawei’s consumer business group, as he unveiled the group’s latest…

US FedEx pilot arrested by Chinese authorities

A FedEx pilot was arrested in China and released on bail, the company said Thursday, amid an ongoing row with Beijing over the US firm’s delivery irregularities involving telecoms giant Huawei. Todd Hohn, a former US Air Force pilot, was arrested by Chinese authorities a week ago as he waited for a commercial flight in…

Amazon pledges to be carbon neutral by 2040

Amazon chief Jeff Bezos pledged Thursday to make the US technology and retail giant carbon neutral by 2040 and encourage other firms to do likewise, in a bid to help meet the goals of the Paris climate accord 10 years early. “We want to use our scope and our scale to lead the way,” Bezos…

Wall Street slides a day after Fed rate cut

US stocks went nowhere on Thursday as investors lost their appetite in afternoon trade, a day after the US central bank delivered a widely expected shot of stimulus. At the close, the benchmark Dow Jones Industrial Average was down 0.2 percent at 27,094.79, erasing earlier gains in the day. Meanwhile, the broader S&P 500 was…

Federal Budget Balance

Federal Budget Balance Federal Budget Final Budget outcome: The budget deficit for 2018/19 was $690 million or less than 0.1 per cent of GDP. The budget deficit was a $13.8 billion improvement on the estimate made at the 2018/19 budget and a $3.5 billion improvement on the $4.16 billion deficit forecast just five months ago….