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Woolies scraps gift card expiry dates

Retailers across Australia are facing calls to follow Woolworths and scrap the expiry dates on gift cards so shoppers can choose exactly when they want to use them. Woolies has announced that gift cards for use at its supermarkets and other retail outlets will be sold without expiry dates from 31 March. Expiry dates will…

Gold fall after hitting one-week high

Gold prices slipped on Wednesday on profit-taking after hitting a one-week high on news that a top economic advisor to the Trump administration had resigned, stoking fears of a trade war and knocking down the dollar. Market watchers said the departure of economic adviser Gary Cohn, a former Wall Street banker, would embolden protectionist forces…

China leads WTO nations in protest over Trump tariffs

China led a group of 18 World Trade Organization members on Wednesday that urged US President Donald Trump to scrap his planned tariffs on steel and aluminium. The pleas from a broad coalition of members including the European Union, Japan, Canada and Russia came at the WTO’s General Council meeting, according to a trade official with…

Japan punishes crypto exchanges after hack

Japanese authorities Thursday ordered two cryptocurrency exchanges to suspend operations as part of a clampdown following a massive hack that saw thieves steal hundreds of millions of dollars in virtual currency.The Financial Services Agency (FSA) said in a statement it had ordered FSHO and Bit Station, exchanges based in Yokohama and Nagoya, to temporarily halt…

CommSec Daily Report Thursday

Latest NewsLocal shares shrugged off a volatile session on Wall Street overnight to start Thursday’s session with a solid gain. The ASX 200 started the session with a gain of loss of 7 points before trading with a gain of 36 points at the best levels of the morning. The local index posted a loss…

US sees nationwide price gains, including steel: Fed

US employers hungry for qualified workers are raising wages at an increasing pace while the cost of goods is rising nationwide, according to a Federal Reserve survey released Wednesday.Steel prices are also mounting due to a drop in competing imports, according to the survey, even as the White House plans to impose steep tariffs on…

Airbus to axe 3,700 jobs on under-selling superjumbo, military transporter

Aircraft giant Airbus is to axe around 3,700 jobs in Europe as it cuts back production of its troubled A380 superjumbo and A400M military transporter, the company and union officials said Wednesday.The cuts come as France-based Airbus downscales deliveries of the under-selling A380 – the world’s biggest passenger jet – from eight this year to…

China’s trade surplus with the US narrows slightly

China’s trade surplus with the US narrowed to $21 billion in February, official data showed Thursday amid rising trade tensions with the Trump administration.While the figure was down from $21.9 billion in January, the trade surplus is still more than double that of February last year, according to the Chinese customs bureau.China’s exports to the…

US stocks end mixed amid trade war worries

Wall Street stocks finished mixed Wednesday as markets weighed conflicting signs on the Trump administration’s trade plans following the departure of a key White House economic advisor.The Dow Jones Industrial Average shed 0.3 percent to 24,801.36.The broad-based S&P 500 lost 0.1 percent at 2,726.80, while the tech-rich Nasdaq Composite Index added 0.3 percent at 7,396.65.US…

Trump offshore oil plan threatens millions of jobs: report

President Donald Trump’s plans to allow offshore oil drilling along virtually the entire US coastline threaten millions of jobs and billions in economic output, according to a report published Wednesday.The report could buttress the arguments of local governments which oppose the proposed new drilling, fearful of losses to tourism, fishing and the potential for environmental…