Investing

Central bank head wants to see Australian dollar weaken

The Governor of the Reserve Bank of Australia Philip Lowe told a parliamentary session last week that he wants to see the Australian dollar weaken further as he seeks to resist a need to change the current level of interest rates. Expecting to see interest rates maintain their record low “for a while yet,” his…

CBA chosen by World Bank for new blockchain deal

The World Bank has chosen the Commonwealth Bank of Australia (CBA) to create and develop a pioneering new platform to allow bond trading via blockchain. Bonds typically involve an exhausting and complex process to use, purchase and shift capital around the world from global entities and large corporations. The CBA hopes to be able to…

IBM shares on the rise after beating earnings estimates

IBM saw an impressive performance on Wednesday evening trading, as its latest returns beat both top and bottom line estimates from investors. Posting earnings of USD $3.08 a share for the second quarter of 2018, its result beat analyst predictions by $0.04. IBM’s total revenue figures also came in higher, with its $20bn total outreaching…

Partnership creates Australia’s first bitcoin vault

A blockchain investment company has teamed up with a safety deposit group to create Australia’s first insured cryptocurrency vault. Decentralised Capital, led by Stephen Moss, has partnered with Custodian Vaults, part of metals company Pallion Group, to create the venture and reinforce Moss’ view that there is no bitcoin bubble. Decentralised Capital offers OTC trading…

Home price correction we had to have

Home prices: Correction we had to haveHome prices; Manufacturing; Job adsHome prices: The CoreLogic Home Value Index of capital city home prices fell by 0.3 per cent in June to stand 1.6 per cent lower over the year. The national home price index fell by 0.2 per cent in the month to be down 0.8…

Win for Rinehart’s Hancock Prospecting after Takeovers Panel ruling

The battle to take over West Australian mining company Atlas Iron has taken a turn in favour of billionaire mining magnate Gina Rinehart. The Australian Takeovers Panel ruled on Monday that it would take no action to investigate a takeover bid for Atlas by Redstone Corp, a subsidiary of Rinehart’s Hancock Prospecting. The panel became…

EU’s Vestager, the Dane who is Google’s bane

If the critics of Silicon Valley needed a leader, many would turn to Denmark’s Margrethe Vestager, the EU’s top anti-trust regulator.Around the world, authorities and governments now look to the elegant Dane who in June slapped Google with a record 2.4-billion-euro fine for illegally favouring its shopping service in search results. Google hit back on Monday,…

BetaShares April Australian ETF Review

The Australian exchange traded fund industry increased 3.3% (or $900 million) to hit a new record of $28.3 billion in funds under management (FUM) at the end of April, according to the BetaShares Australian ETF Review – April 2017.  The latest monthly growth was driven by a relatively even split between new inflows coming to…

CommSec Daily Report Friday

The Australian market fell into the red at the beginning of trade after a lack lustre session in the US overnight. US share markets were held in tight ranges on Thursday. After trading in a 70-point range, theDow Jones ended higher by 6 points, the NASDAQ up 24 points.At the open of trade the ASX…