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Momentum builds for banking inquiry

Malcolm Turnbull is edging closer to an embarrassing defeat as he seeks to head off a commission of inquiry into the banks. Nationals senator Barry O’Sullivan has lodged a notice of motion in the Senate which would enable him to get “top priority” for his bill to set up an inquiry – with similar powers…

International markets roundup

NEW YORK: Technology stocks have led the S&P 500 and Nasdaq to record closing highs, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season. The benchmark S&P 500 and the blue-chip Dow Jones industrials…

IG Research – The long and the short of it

News from the weekend has been fairly limited, although Bitcoin has seen another frenzy of buying as the fear of missing out trade bites even harder, with price now sitting at 9338 and up 13%.Seemingly, in the period between Wednesday and Friday Coinbase have detailed they saw 100,000 new user accounts, taking their total to…

Brexit without EU trade deal ‘not end of world’: WTO chief

The head of the World Trade Organization (WTO) said Sunday it would not be ‘the end of the world’ if Britain failed to reach a post-Brexit trade deal with the EU, but there would be costs.Roberto Azevedo told the Sunday Telegraph newspaper that although Britain would be better off with an agreement, the impact of…

Bitcoin, an ‘Uber’ currency, not without risk

Bitcoin, which this week soared to a new record high of more than $8,000, is the monetary equivalent of Uber, since it bypasses central bank regulation and could be attractive for financially fragile countries, economists say.Nevertheless, it is precisely the lack of oversight that opens up the users of cryptocurrencies such as bitcoin to risks…

China’s tech giants reach global elite with gamers, shoppers

Powered by Chinese smartphone users splurging billions on mobile games and online shopping, China’s tech giants Tencent and Alibaba are racing up the elite league of the world’s most valuable companies.Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the $500 billion league last week…

UK Summer scramble or ‘We know what we did this summer’

This summer, the team on The Value Perspecitive set about narrowing down the 55,000-odd listed companies in the world to half a dozen or so ‘must-own’ stocks. Here’s how.This summer, the team on The Value Perspecitive set about narrowing down the 55,000-odd listed companies in the world to half a dozen or so ‘must-own’ stocks. …

CommSec Daily Report Monday

Latest newsAustralian shares are off to a better start, with the ASX 200 lifting by 0.3 per cent and breaking through 6000pts for the first time in a fortnight. This places the market within striking distance of a near 10-year high and follows largely directionless trade last week due to holiday in the US.Almost all…

India takes no chances for Ivanka Trump visit

Indian authorities have cleared beggars off the streets and brought in 10,000 extra security forces for Ivanka Trump’s biggest foreign mission since her father became president.President Donald Trump’s eldest daughter is to be the key speaker Tuesday at the opening of a three-day Global Entrepreneurship Summit in Hyderabad alongside India’s Prime Minister Narendra Modi.The southern…

State of play after Queensland election

STATE OF PLAY IN QUEENSLAND’S PARLIAMENT – Premier: Annastacia Palaszczuk (Labor) Opposition Leader: Tim Nicholls (LNP) – Parliament 93 seats: Labor – 43; Liberal National Party – 35; Katter’s Australian Party – 2; One Nation – 0; Independent – 1; Undecided – 12 Predictions: Labor 47, LNP 41, KAP 3, One Nation 1, Independents 2….