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International markets roundup

NEW YORK: Wall Street’s main indexes have all risen more than one per cent – with the Dow again above the 26,000 mark – as investors’ expectations for higher earnings lift stocks across sectors. The S&P 500 has rallied strongly in the new year, gaining 4.8 per cent so far and posting only two sessions…

Aust shares look set to open in the green

The Australian share market looks set to open comfortably higher after a strong positive lead from Wall Street with the Dow heading for its first close above 26,000 points. At 0700 AEDT on Thursday, the share price futures index was up 15 points, or 0.25 per cent, at 5,975. In the US, Wall Street’s three…

Winemakers raise glass to Canada complaint

Winemakers are toasting the federal government’s attempts to pressure Canada into stocking Australian wines on its supermarket shelves. Australia has filed a formal complaint with the World Trade Organisation in protest at the way Canada applies rules over the sale of Australian wine. Australian winemakers have long complained about what they describe as ‘protectionist’ Canadian…

Apple says will pay $38 bn in taxes on repatriated profits

Apple announced Wednesday it would pay some $38 billion in taxes – likely the largest payment of its kind – on profits repatriated from overseas as it boosts investments in the United States.The iPhone maker said in a statement it plans to use some of its foreign cash stockpile, which qualifies for reduced tax rates…

US firms optimistic but face labor shortages: Fed

American businesses are upbeat about 2018, but widespread difficulties finding workers are constraining growth for some firms, according to a Federal Reserve survey released Wednesday.The tight labor markets, which extend from low-skilled to high-tech positions, are fueling more widespread wage increases in a broader array of industries, the nationwide survey showed.Some firms expect they will…

Asia News Agenda Thursday

ASIA NEWS AGENDA ON THURSDAY+ Riots in Myanmar’s restive Rakhine state+ Hong Kong activists go on trial for rioting+ Federer, Halep in action at Australian OpenMYANMAR– Following developments after seven ethnic Rakhine protesters die as Myanmar police open fire during a riot in the combustible state.HONG KONG– Trial begins of pro-independence protesters Edward Leung and…

Dow posts first close above 26,000 amid Wall Street records

Wall Street roared upwards on Wednesday, with investor enthusiasm sending all three major stock indices to record finishes, and the Dow to its first close above 26,000.The Dow Jones Industrial Average rose 1.3 percent to finish at 26,115.65, the S&P 500 added 0.9 percent to close at 2,802.56, and the Nasdaq gained a full percentage…

IG Research – The long and the short of it

It’s amazing what traders and investors will do for 22 basis points (bp) of additional yield, but that to some extent is what is compelling FX investors to push the AUD/USD through the 80c mark, and with it, we see a clear talking point for traders with focus on the fact we have seen further…

Facebook agrees to widen probe of Brexit vote fake news

British lawmakers probing possible Russian interference in the Brexit referendum revealed Wednesday that Facebook had agreed to broaden its own investigation into fake news around the vote, after the social media platform’s initial efforts drew criticism.The House of Commons’ Digital, Culture, Media and Sport (DCMS) Committee said Simon Milner, the tech titan’s head of policy…

Wall Street soars yet again; bitcoin crashes below $10,000

Wall Street shot past a fresh set of a milestones on Wednesday as irrepressible investor appetite returned US stocks to their steady stream of record finishes.Across the Atlantic, however, European equities churned lower as market players took their cue from downbeat sentiment in Asia.Virtual currency bitcoin dived, falling below $10,000 for the first time in…