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US dismisses North-South Korea talks as ‘band-aid’

The US envoy to the United Nations Tuesday dismissed as a ‘band-aid’ the prospect of talks between North and South Korea, warning that Washington would never accept a nuclear-armed Pyongyang.Responding to Seoul’s offer of high-level talks with Pyongyang, Ambassador Nikki Haley told reporters: ‘We won’t take any of the talks seriously if they don’t do…

Crown agrees to $150m CrownBet stake sale

Crown Resorts has agreed to the $150 million sale of its majority stake in bookmaker CrownBet and expects to complete the divestment by the end of February. Crown on Friday said it has entered into an agreement for the sale of its 62 per cent stake – along with loans advanced by it to CrownBet…

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…