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Universities to be hit with new year cuts

University students may have to dig further into their pockets for a degree as a two-year freeze on federal funding kicks in on January 1, 2018. The federal government’s measure to cap the Commonwealth Grant Scheme (CGS) to 2017 levels will take effect in the new year and apply to all bachelor degrees. The CGS…

World’s richest gain $US1 trillion in 2017

WHAT HAPPENED IN A YEAR? * World’s wealthiest became $US1 trillion richer * Jeff Bezos knocked Microsoft co-founder Bill Gates out of first place * The top five richest Australians worth a combined $US40 billion * Technology was the best performing sector – adding $US262 billion * Out of the top 100, Amazon.com founder Jeff…

Australian shares close 2017 on down note

Australian shares have closed lower on the last trading session for the year, with almost all sectors in negative territory. The benchmark S&P/ASX200 stock index was down 0.38 per cent at 6065.1 points, with the mining-related materials and healthcare sectors the only two to close higher. The move meant the ASX200 gained seven per cent…

AAP Markets Report

Stock Market Wrap INDEX LAST MOVE PREVIOUS Dow Jones 24837.51 63.21 24774.3 S&P500 2687.54 4.92 2682.62 Nasdaq 6950.16 10.82 6939.336 FTSE100 7622.88 2.2 7620.68 DAX N/A N/A 13070.02 Shanghai 3297.2059 21.4231 3275.7828 Hang Seng 29863.71 266.05 29597.66 NIKKEI225 22783.98 -127.23 22911.21 NZSE 50 8408.53 32.00 8376.43 CURRENCY SNAPSHOT One Australian dollar buys: *77.94 US cents,…

Stocks to watch

Stocks to watch on the Australian stock exchange: EVN – EVOLUTION MINING – down 2.0 cents, or 0.75 per cent, at $2.65 NCM – NEWCREST MINING – down 2.0 cents, or 0.09 per cent, at $22.82 Gold mining stocks gave up early gains made on the back of a lift in the price of the…

Aussies fork out $83 per week on welfare

Working Australians are forking out roughly $83 per week to fund the nation’s welfare bill. Average taxpayers are handing over $35 every week to prop up aged pensioners, $20 per week to pay for family benefits and $17 to support Australians with disabilities. Just over $6 per week goes to the unemployed, while $9 goes…

Aust shares look set to open lower.

The Australian share market looks set to open slightly lower, ignoring Wall Street’s rise thanks to tech and financial stocks gaining and despite a rise in commodities prices. At 0700 AEDT on Friday, the share price futures index was down nine points, or 0.15 per cent, at 6,037. In the US, Apple’s 0.4 per cent…

International markets roundup

NEW YORK: Wall Street indexes have risen slightly in thin holiday trading, supported by gains in technology and financial stocks. Apple’s 0.4 per cent rise along with gains in high-flying FANG stocks – Facebook, Amazon, Netflix and Alphabet – were the biggest drivers of the S&P and the Nasdaq. Commodities were in the spotlight, with…

Chinese leasing firm orders 50 Airbus jets in $5.42 bn deal

A Chinese aircraft leasing company said on Thursday it will buy 50 Airbus A320neo jets for $5.42 billion as part of a drive to capitalise on ever-growing demand for air travel in China.Hong Kong-listed China Aircraft Leasing Group (CALC) will take delivery of the airliners in stages through to 2023, it said in a statement.The…

Asia News Agenda Friday

ASIA NEWS HIGHLIGHTS ON FRIDAYTAIWAN– Taiwan President Tsai Ing-wen holds year end press conference.– OTHER AGENA ITEMS – AUSTRALIA– Cricket. Day four of the fourth Ashes Test between Australia and England in Melbourne.NEW ZEALAND– Cricket. First of three T20s between New Zealand and West Indies in Nelson.