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NSW goldmine hit by dam wall collapse

A NSW goldmine forced to shut down for three months last year after an earthquake has again halted operations following a dam wall breach. The wall of a tailings dam at the Cadia mine, about 20km south of Orange, partially collapsed on Friday after there were two magnitude 2.7 earthquakes in the region on Thursday….

Aust shares seen up on tariff exemption

Australian shares look set for a positive start on Monday after US President Donald Trump promised Australia would be exempt from its planned tariffs on steel and aluminium. Planned talks between President Trump and his North Korean counterpart Kim Jong Un are also expected to lift the mood for investors. ‘When you look at the…

US allies line up for tariff exemptions

From Japan and South Korea to Australia and Europe, officials have lined up to seek exemptions from President Donald Trump’s tariffs on US steel and aluminium imports, while Chinese producers called on Beijing to retaliate in kind. Tokyo and Brussels rejected any suggestion that their exports to the US threatened its national security, which is…

World shares set to end week back in black

World shares have hit a one-week high before easing a touch as caution before US jobs data outweighed a potential breakthrough in nuclear tensions over the Korean Peninsula. The MSCI All-Country World index, which tracks shares in 47 countries, was 0.1 per cent higher on Friday morning and set for a weekly gain of almost…

How tariffs will roil US financial markets

US President Donald Trump pressed ahead with the imposition of 25 per cent tariffs on steel imports and 10 per cent for aluminium. But he exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries, while other countries can apply for exemptions. The announcement was viewed by investors as a watered-down version…

Finance Week for March 11 – 17

DIARY OF AUSTRALIAN FINANCE: Sunday, March 11 to Saturday, March 17. (*Some items may change due to company/organiser re-arrangements. To advise of amendments please email AAP Finance Desk: [email protected]). SUNDAY, March 11 No items listed MONDAY, March 12 Sydney – CoreLogic capital city house prices for the week just ended TUESDAY, March 13 Melbourne –…

Finance Week for March 11 – 17

DIARY OF AUSTRALIAN FINANCE: Sunday, March 11 to Saturday, March 17. (*Some items may change due to company/organiser re-arrangements. To advise of amendments please email AAP Finance Desk: [email protected]). SUNDAY, March 11 No items listed MONDAY, March 12 Sydney – CoreLogic capital city house prices for the week just ended TUESDAY, March 13 Melbourne –…

Myer removed from benchmark ASX200 index

Myer’s woes have led to the struggling department store being removed from the Australian share market’s benchmark ASX200 index. Myer, whose shares have shed two thirds of their value in the past year amid sluggish sales and a series of profit warnings, has been dropped from the index of the top companies on the Australian…

Oz Minerals eyes solar to cut power costs

Oz Minerals is considering renewable energy options for its current and future assets, in a bid to combat ongoing pressure from soaring electricity prices. The copper miner on Friday said it also plans to secure affordable power, and increase measures to prevent blackouts at its current South Australian assets by building a new high voltage…

Aust appears likely to avoid Trump tariffs

Australia appears to be in a good position to avoid US President Donald Trump’s hefty steel and aluminium tariffs. Mr Trump did not specifically name Australia at a signing ceremony on Thursday at the White House that put the tariffs in motion, but he indicated a path would be created for “great partners and military…