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Gold, Bitcoin And The USD – The Main Games In Town

Arguably the three dominant talking points from discussions I’m having with clients centre on three main markets – gold, Bitcoin and the USD. I’d also throw in oil, with WTI crude (XTIUSD) gaining a punchy 8.8% last week, and this seems incredibly important as US inflation swaps have lifted from 1.91% to 2.06% as a…

Kogan.com adds power to retail portfolio

Online retailer Kogan.com is adding electricity and gas supply to its portfolio of consumer services. The ASX-listed firm, which has already branched out from its core retail operations into mobile communications, home internet, insurance, super and travel, says it is partnering with NZ-owned Powershop to set up Kogan Energy. “We generate some of the cleanest…

Murray Goulburn settles $42m class action

Murray Goulburn has agreed to pay $42 million to settle class action on behalf of more than 1,300 investors hit when the milk processor unexpectedly cut milk prices and downgraded profit guidance in 2016. Under the proposed agreement announced by law firm Slater and Gordon on Monday, Murray Goulburn Co-operative Co Limited entities will pay…

ASX rebounds as banks, mining sectors gain

The Australian share market has closed higher as the heavyweight mining and financial sectors rebounded from their morning losses. The benchmark S&P/ASX200 index was up 14.6 points, or 0.22 per cent, to 6,665.4 points at 1615 AEST on Monday, while the broader All Ordinaries was down 11.2 points, or 0.17 per cent, to 6,745.5. The…

Record petrol price lift; RBA Governor mulls

Record petrol price lift; RBA Governor mulls Weekly petrol price: Reserve Bank Governor remarks Petrol: According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 4.1 cents in the past week to 143.9 cents a litre. Record weekly price increases in Brisbane and Adelaide drove the national petrol price…

Westpac to overhaul executive bonuses

Westpac will overhaul how it calculates executive pay in response to the last year’s protest vote by shareholders and has admitted that the bank’s culture can “dilute” accountability for its failings. The country’s second largest bank said on Monday that it recognised last year’s cuts to executive bonuses did not go far enough, with 64…

CommSec Daily Report Monday

Latest News Local shares are off to a softer start to the new trading week. The ASX 200 has slipped 15 points or 0.23% to 6,635 towards lunch on Monday following a tepid lead-in from Wall Street. US markets edged lower on Friday’s session as traders booked profits with weekly gains of 2- 3% for…

ASX dips as financial, mining sectors fall

The Australian share market has moved lower as the heavyweight mining and financial sectors slipped into negative territory. The benchmark S&P/ASX200 index was down 19.8 points, or 0.30 per cent, to 6,631.0 points at 1200 AEST on Monday, while the broader All Ordinaries was down 20.9 points, or 0.31 per cent, to 6,713.4. Consumer staples…

PM reviews industrial relations, red tape

A refreshed Morrison government is going to examine the nation’s industrial relations system and red tape as part of a push to rev up Australia’s economy. But the prime minister has put the hard word on business to play its part in convincing Australians that change is needed. In a speech to business leaders in…

Metcash shares tumble on weaker earnings

Metcash shares have slumped after lower food earnings and higher finance costs weighed on the IGA supermarket supplier’s full-year result. Revenue for the 12 months to April 30 rose 1.8 per cent to $12.66 billion as Metcash swung to a $192.8 million full-year profit after cycling through its South Australian contract impairments. But earnings declined…

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