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Queenslanders heading to the polls

Three million Queenslanders are heading to the polls to decide who will lead the next state government. After 28 days on the hustings, Premier Annastacia Palaszczuk and Liberal National Party leader Tim Nicholls will join the battlers, city slickers and undecided in the fight for their political lives. But it could be days before a…

EU’s Vestager, the Dane who is Google’s bane

If the critics of Silicon Valley needed a leader, many would turn to Denmark’s Margrethe Vestager, the EU’s top anti-trust regulator.Around the world, authorities and governments now look to the elegant Dane who in June slapped Google with a record 2.4-billion-euro fine for illegally favouring its shopping service in search results. Google hit back on Monday,…

Big banks drag Aust market lower

The Australian share market has closed lower as the battle between the Turnbull government and the big banks over a proposed $6.2 billion levy on Australia\’s five biggest financial institutions continues to weigh upon investor sentiment towards the financial sector. At 1615 AEST, the benchmark S&P/ASX200 was down 64.5 points, or 1.1 per cent, at…

Weak wages prevail in limp jobs market

Wages growth in Australia has come in at a weak 0.5 per cent for the March quarter – in line with expectations but still at levels showing any increases in size for the nation’s paypackets are “stuck in the doldrums”. Total hourly rates of pay, excluding bonuses, rose by 0.5 per cent in the March…

Banks continue to pull market lower

The share market is sharply lower amid a broad sell-off and steep falls by the major banks. The benchmark S&P/ASX200 was down 0.9 per cent at 1200 AEST, with the market’s only gains coming from the mining sector. CMC Markets chief market analyst Ric Spooner said investors were still selling bank shares due to the…

Oroton’s earnings plunge as sales slide

Struggling handbag retailer Oroton has warned its full year underlying earnings will fall as much as 85 per cent because of an ongoing sales slump. Oroton sees no end to the slide in its sales, which in the nine months to April were down 11 per cent on the same period a year ago. It…

Dulux resilient to potential property drop

Paints and adhesives supplier DuluxGroup expects its business will be fairly resilient to any downturn in the property market because people will still want to paint their houses. DuluxGroup managing director Patrick Houlihan says 65 per cent of the group’s business relates to the 10 million existing homes in Australia, and 15 per cent relates…

Stocks to watch

Stocks to watch on the Australian Securities Exchange: ANZ – ANZ BANKING GROUP – down 42 cents, or 1.4 per cent, at $29.12 CBA – COMMONWEALTH BANK – down $1.50, or 1.8 per cent, at $81.11 NAB – NATIONAL AUSTRALIA BANK – down 54 cents, or 1.7 per cent, at $30.96 WBC – WESTPAC –…

CommSec Daily Report Wednesday

The Australian market is under pressure on Wednesday, with the ASX 200 index slipping by 0.8 per cent at lunch. Around half of these losses are due to significant falls from the four major banks, which are down as much as 1.75 per cent. Weakness from supermarket chain owner Wesfarmers (WES) and Woolworths (WOW) is…

The EU: What happened to climate’s poster child?

The 28-member European Union, the third-largest emitter of planet-warming greenhouse gases after China and the United States, has long been held up as the poster child of efforts to save Earth’s climate.But after years of taking the lead in talks for a global climate pact, and making tough policy and investment choices to lessen fossil…