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Tax cut promise aids confidence lift

Malcolm Turnbull’s promise of personal income tax cuts could be the circuit-breaker to lift the spirits of consumers who have been under a cloud for most of the year. Treasurer Scott Morrison says he and the prime minister will be figuring out, over the summer and in the lead up to next year’s budget, how…

Aust shares look set to open modestly up

The Australian share market looks set to open higher amid continuing positive sentiment and after better-than-expected produce price index figures boost Wall Street’s Dow and S&P500 indexes. At 0700 AEDT on Wednesday, the share price futures index was up 12 points, or 0.2 per cent, at 6,030. In the US, a Labour Department report showed…

$A continues to climb against $US

The Australian dollar is higher against its US counterpart which itself has risen following strong economic data. At 0635 AEDT on Wednesday, the Australian dollar was worth 75.57 US cents, up from 75.36 US cents on Tuesday. Westpac’s Imre Speizer says risk sentiment in markets remains positive. He said November’s US Producer Price Index rose…

Climate commitments at the ‘One Planet Summit’ in Paris

Moving away from using fossil fuels and leaning heavily on businesses to green up their act, the ‘One Planet Summit’ in Paris on Tuesday set out a raft of wide-ranging commitments to turn the tables on climate change.Here are five of the major areas covered during the summit:Oil and gas The World Bank said it would…

EU warns Britain against Brexit deal ‘backtracking’

The EU on Tuesday warned Britain against ‘backtracking’ as it rounded on a top minister for suggesting that London could back out of its Brexit divorce promises if it does not get a trade deal.Britain’s Brexit minister David Davis caused alarm by saying that a crucial agreement struck last Friday on separation arrangements was a…

US Fed opens policy meeting; interest rate hike likely

The US central bank opened its final two-day policy meeting of the year on Tuesday and was likely to raise the benchmark interest rate despite the absence of inflation.It would be the third rate hike this year, and possibly the final time Federal Reserve Chair Janet Yellen presides over a policy move since President Donald…

CommSec Daily Report Wednesday

Latest NewsLocal shares continued the pattern of recent sessions by edging higher in early trade on Wednesday, although as lunch loomed the market was largely flat. The ASX 200 started the session with at the closing levels of the previous session before trading to a 14 points gain at the best levels of the morning….

IG Research – The long and the short of it

US stocks have once again caught a slight bid and we see the S&P 500 printing yet another all-time high, as has the Dow Jones, while the NASDAQ 100 still has a bit of work to do.There is a short time to go until the close of the US equity markets, but if the S&P…

Westfield shares soar after Unibail-Rodamco takeover

Shares in Australian shopping centre giant Westfield soared Wednesday after French property firm Unibail-Rodamco agreed to buy the group, with founder Frank Lowy congratulated on his ‘impeccable timing’.In a deal valuing Westfield at US$24.7 billion, shareholders will receive the equivalent of Aus$10.01 in cash and stock for each share they hold.That represents a huge premium…

Ariane 5 rocket puts European GPS satellites into orbit

An Ariane 5 rocket put four GPS satellites into orbit on Tuesday for Europe’s Galileo navigation project, Arianespace said.The European space workhorse took off at 1836 GMT and deployed the satellites four hours after launch.The Galileo programme, when complete, will have 30 satellites in three orbital planes by 2020. If all goes according to plan the…