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Victoria slams delay to federal GST report

Victoria has accused the federal government of ‘desperately’ trying to avoid scrutiny over its plan to carve up GST revenue after it delayed a crucial report by several months. The Productivity Commission’s report into GST was due in January but the federal government has pushed the deadline back to May 15, a week after the…

Finance Week for January 7 – 13

DIARY OF AUSTRALIAN FINANCE: Sunday, January 7 to Saturday, January 13. (*Some items may change due to company/organiser re-arrangements. To advise of amendments please email AAP Finance Desk: [email protected]). SUNDAY, January 7 No items listed MONDAY, January 8 Sydney – Corelogic capital city home values for the week to January 7 Sydney – Ai Group…

Medicinal pot stocks high on export move

Medicinal cannabis producers are on a high after the Australian government gave them approval to begin exports. By 1344 AEDT on Thursday, shares in Cann Group were up 27.8 per cent at $3.68, The Hydroponics Company had gained 22.4 per cent to 87.5 cents, and AusCann had soared passed a dollar for the first time,…

Westpac apologises to Tas pensioners

One of Australia’s largest banks has apologised to Tasmanian pensioners for not sending their promised energy rebate cheques before Christmas. Westpac on Thursday apologised for the delays in posting the state government’s promised $125 energy bonus after earlier making repeated assurances the cheques would be sent out on time. ‘Westpac apologises to Tasmanians who did…

Aust shares end on energy, healthcare high

Australian shares have ended slightly higher with strong performances in the healthcare and energy sectors helping offset a weak session for the big miners and banks. The benchmark S&P/ASX200 stock index was up 18.2 points, or 0.3 per cent, at 1630 AEDT on Thursday, with oil producers and healthcare companies leading the gains. Bell Direct…

Service sector up marginally in December

Activity in the Australian services sector has edged only marginally higher in December, with households wrapping up the year on a cautions note due cost of living pressures. The Australian Industry Group’s Performance of Services Index (PSI) rose 0.3 points to 52 points in December, remaining above the 50-point level signifying expansion. Four of the…

Stocks to watch

Stocks to watch on the Australian stock exchange: BDA – BOD AUSTRALIA – up 17 cents, or 39.53 per cent, at 60 cents CAN – CANN GROUP – up $1.02, or 35.42 per cent, at $3.90 THC – THE HYDROPONICS COMPANY – up 22 cents, or 30.77 per cent, at 93.5 cents AC8 – AUSCANN…

Aust shares look set to open up solidly

The Australian share market looks set to follow Wall Street’s recording making lead and open higher. At 0700 AEDT on Thursday, the share price futures index was up 24 points, or 0.40 per cent, at 6,055. In the US, the S&P500 index rose above the 2,700 point mark for the first time and other major…

$A rebounds against stronger $US

The Australian dollar is rebounded against a rallying US dollar, supported by strong iron ore prices. At 0635 AEDT on Thursday, the Australian dollar was worth 78.32 US cents, up from 78.22 US cents on Wednesday. The US dollar’s gains accelerated after data showed US construction spending rose 0.8 per cent in November to an…

International markets roundup

NEW YORK: The S&P 500 index has risen above 2,700 for the first time and other major indexes hit record highs as technology stocks climbed amid indications of robust economic growth in the US and overseas. Stocks held gains following the release of minutes of the Federal Reserve’s latest policy meeting. Details of the meeting…