All news

Israel to halt trade in cryptocurrency-based firms

The Israel Securities Authority said it is moving to ban trading in cryptocurrency-based companies on the Tel Aviv market until transactions involving digital coins are legally regulated.The head of the authority, Shmuel Hauser, said on Monday that the stock market regulator would discuss the proposal at a meeting next week.‘So long there is no regulatory…

Oil prices close at 2-1/2 year peak

Oil prices in New York jumped to a two-and-a-half year high Tuesday and briefly topped $60 a barrel due to a Libyan pipeline explosion and frigid weather in the US.The benchmark US contract, West Texas Intermediate for February delivery, rose $1.50 to $59.97 a barrel after earlier breaching $60 for the first time since June…

Asia News Agenda Wednesday

ASIA NEWS HIGHLIGHTS ON WEDNESDAY+ Arrested Myanmar journalists expected in court+ Australian handed verdict in Malaysia drug case+ Cambodia sends its first maids to Hong KongMYANMAR – Two local Reuters journalists held incommunicado since their arrest expected to have first day in court as their two-week remand period ends.MALAYSIA– Malaysian court hands down verdict in the…

CommSec Daily Report Wednesday

Latest newsThe Australian market has re-opened after a long weekend hitting fresh near 10 year highs and remaining well above 6000pts. The ASX 200 is up 0.3 per cent and is adding to last week’s 1.2 per cent surge (best week since October). Volumes do tend to dry up at this time of year however…

Surfstitch CEO leaves troubled retailer

Troubled online sport apparel retailer Surfstitch, which slipped into voluntary administration four months ago, no longer has a chief executive. The retailer’s administrators from FTI Consulting have announced that Mike Sonand will cease his role CEO as of Friday and will not be replaced at this time. Mr Sonand will continue as a director of…

UK tycoon confirms $1b Whyalla investment

South Australia’s Whyalla steelworks will lift production by 50 per cent to 1.5 million tonnes a year under a $1 billion transformation plan confirmed by its new owners. British industrialist Sanjeev Gupta says his GFG Alliance has developed a comprehensive investment strategy for the former Arrium facilities that will improve its operational and financial performance…

House prices expected to fall in 2018

Australia’s housing market is expected to continue to weaken during 2018 as tighter lending restrictions from banks start to bite. Property data analytics group CoreLogic expects dwelling price falls across Sydney, and to a lesser extent Melbourne, will lead a national fall in home values next year. Driving the fall, will be the restrictions on…

Open-cut mining banned on NSW coal site

State legislation has been amended to prevent open-cut mining on the controversial Drayton South site in the NSW Hunter region. The change prohibits open-cut mining in the exploration licence on the outskirts of Muswellbrook no matter who owns the land, NSW Department of Planning and Environment deputy secretary Marcus Ray says. The decision follows significant…

BHP to spend $253m more in Brazil

BHP Billiton has agreed to provide more funding to its Samarco joint venture in Brazil as well as to the non-profit foundation it has set up in the wake of the the 2015 mine dam collapse there. The mining giant on Friday said it will provide total financial support of $US181 million ($A253 million) until…

Aust shares gain in final pre-Xmas session

The Australian share market has ended the day and the week above 6,000 points as stronger commodity and energy prices lifted stocks despite a relatively quiet final pre-Christmas session. The benchmark S&P/ASX200 stock index was up 0.15 per cent at 6069.7 points at 1630 AEDT, with investors rallying around higher oil and commodity prices. CMC…