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$A is slightly lower against a subdued $US

The Australian dollar is slightly lower against a stronger but pretty subdued US counterpart ahead of the expected Congressional vote on the Republicans’ tax reform package. At 0635 AEDT on Wednesday, the Australian dollar was worth 76.63 US cents, down from 76.67 US cents on Tuesday. Earlier on Wednesday (AEDT), the US dollar rose a…

Bitcoin suffers dramatic price plunge in Asia

Bitcoin prices plunged about 15 percent in Asian trade Wednesday before recouping some of the losses as investors apparently took fright at news that a South Korean exchange had been hacked.The unit, which hit a record $19,500 at the start of the week, took a hit as it emerged that South Korean exchange Youbit had…

Executive Series: Viralytics (VLA) CEO & Managing Director, Dr Malcolm McColl

Executive Series 12 Dec 17: Viralytics (VLA) CEO & Managing Director, Dr Malcolm McCollIn this short video, Tom Piotrowski speaks with Viralytics (VLA) CEO & Managing Director, Dr Malcolm McColl about the company’s recent clinical trial results and plans for commercialisation of its CAVATAK drug.YouTube Link: https://youtu.be/mixBVobIRd0To view more Executive Series interviews, visit: https://www.commsec.com.au/market-news/executive-series

Economy-wide spending lifts strongly

Economy-wide spending posts solid gainsCommonwealth Bank Business Sales IndexEconomy-wide spending continued to recover in November after a mid-year slowdown. The Commonwealth Bank Business Sales Indicator (BSI), a measure of economy-wide spending, rose by 0.6 per cent in trend terms in November after a 0.5 per cent increase in October and 0.4 per cent growth in…

IG Research – The long and the short of it

It was certainly positive to see the ASX 200 convincingly hold and close above the 10 November and year-to-date highs and while Aussie SPI futures indicate that the ASX 200 will open just a touch weaker (our call sits at 6063), the trend in the index is higher and any pullbacks into 6055/50 should be…

Asia News Agenda Wednesday

ASIA AGENDA ITEMS ON WEDNESDAY+ Hong Kong stages nuclear emergency drill HONG KONG– The Hong Kong government conducts a large two-day nuclear emergency response drill in a far-flung island near the mainland border.– OTHER AGENDA ITEMS – INDIA– Cricket. India take on Sri Lanka in the first Twenty20 international in Cuttack.NEW ZEALAND– Cricket. First of three one-day…

Tax cut passes US House, heads to Senate for crunch vote

The Republican-controlled US House of Representatives passed a landmark tax overhaul Tuesday, bringing Donald Trump one step closer to a major legislative triumph as the first year of his presidency draws to a close.Republicans received zero Democratic support as they passed the contentious $1.5-trillion package of tax cuts for businesses and individuals that critics say…

UPS orders 125 all-electric trucks from Tesla

UPS announced Tuesday it will buy 125 of Tesla’s all-electric semi trucks, the largest such order since the vehicle was unveiled in November.The order by UPS, one of the biggest operators of commercial trucking fleets, comes on the heels of a PepsiCo announcement two weeks ago to buy 100 of the Tesla trucks. The vehicles are…

Weak consumer spending worries RBA

The Reserve Bank has painted a foreboding outlook for consumer spending, as wages continue to grow slowly and household debt levels remain high. But the central bank remains generally upbeat about the economy, with global conditions improving over 2017 and full-time employment in Australia growing at its fastest pace in a decade. Minutes from the…

Australians upbeat about national economy

Voters are upbeat about the economy and their icy attitudes towards Australian politics are beginning to thaw, new poll results show. Australians believe 2017 has been a relatively good year for large companies, their workplaces, themselves and their families, according to an Essential survey released on Tuesday. This optimism extends into outlooks for next year….