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$80m for NSW science, tech education

The NSW government will invest almost $80 million in science and technology education, Premier Gladys Berejiklian has announced. Speaking at Western Sydney University on Monday, Ms Berejiklian said the funding would be delivered over the next three years and help the state take ‘the next steps towards a 21st-century education system’. Ms Berejiklian said $23…

Downer shares soar on profit guidance lift

Shares in Downer EDI have jumped after the engineering group lifted its full-year profit because of larger-than-expected cost savings uncovered following its purchase of Spotless. Downer, which owns 87.8 per cent of the property services firm after a lengthy takeover struggle, upgraded its net profit guidance to $195 million from April’s $190 million following a…

Momentum builds for banking inquiry

Malcolm Turnbull is edging closer to an embarrassing defeat as he seeks to head off a commission of inquiry into the banks. Nationals senator Barry O’Sullivan has lodged a notice of motion in the Senate which would enable him to get “top priority” for his bill to set up an inquiry – with similar powers…

AAP Markets Report

Stock Market Wrap 0800 INDEX LAST MOVE PREVIOUS Dow Jones 23557.99 31.81 23526.18 S&P500 2602.42 5.34 2597.08 Nasdaq 6889.16 21.799 6867.361 FTSE100 7409.64 -7.6 7417.24 DAX 13059.84 51.29 13008.55 Shanghai 3353.8207 1.9025 3351.9182 Hang Seng 29866.32 158.38 29707.94 NIKKEI225 22550.85 27.7 22523.15 NZSE 50 8130.29 28.34 8101.95 CURRENCY SNAPSHOT AT 0700 AEDT: One Australian dollar…

Stocks to watch

Stocks to watch on the Australian stock exchange: DOW – DOWNER EDI – up 34 cents, or 5.1 per cent, at $7.07 SPO – SPOTLESS – down one cent, or 0.9 per cent, at $1.10 Engineering group Downer EDI has upgraded its full-year profit guidance after identifying larger-than-expected cost savings as it integrates its 87.8…

ASX scrapes higher as Macquarie hits $100

The Australian share market has closed slightly higher following a late burst in buying that lifted the market out of a midday trough. The benchmark S&P/ASX200 stock index closed up 6.2 points, or 0.1 per cent, at 5,988.8 points on Monday, as shares in the investment bank Macquarie breached the $100 mark for the first…

$A is unchanged against a weaker $US

The Australian dollar is unchanged against its US counterpart, which was fallen to a two-month low as investors grow optimistic about the strength of the euro zone’s recovery and lose their appetite for the greenback. At 0635 AEDT on Monday, the Australian dollar was worth 76.21 US cents, changed from Friday. The dollar index fell…

International markets roundup

NEW YORK: Technology stocks have led the S&P 500 and Nasdaq to record closing highs, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season. The benchmark S&P 500 and the blue-chip Dow Jones industrials…

Brexit without EU trade deal ‘not end of world’: WTO chief

The head of the World Trade Organization (WTO) said Sunday it would not be ‘the end of the world’ if Britain failed to reach a post-Brexit trade deal with the EU, but there would be costs.Roberto Azevedo told the Sunday Telegraph newspaper that although Britain would be better off with an agreement, the impact of…

Bitcoin, an ‘Uber’ currency, not without risk

Bitcoin, which this week soared to a new record high of more than $8,000, is the monetary equivalent of Uber, since it bypasses central bank regulation and could be attractive for financially fragile countries, economists say.Nevertheless, it is precisely the lack of oversight that opens up the users of cryptocurrencies such as bitcoin to risks…