All news

Pfizer’s 2021 outlook boosted by vaccine

NEW YORK CITY, AP – Strong sales of its COVID-19 vaccine and other medicines helped Pfizer nearly double its second-quarter revenue and boost its profit an impressive 59 per cent, beating Wall Street expectations and leading the drug giant to sharply hike its 2021 sales and profit forecasts. Amid the surging coronavirus pandemic, the COVID-19…

Boeing rebounds after losses since 2019

NEW YORK CITY, AP – Boeing has reported its first quarterly profit since 2019 and its revenue topped expectations as the giant aircraft maker tries to dig out from the most difficult stretch in its history. Boeing earned $567 million in the second quarter, compared with a $2.4 billion loss a year ago. The return…

Losses for lofty ASX, tech shares drop

SYDNEY, AAP – Australia’s share market eased from record highs the previous day, and a coronavirus lockdown extension for NSW dimmed investors’ mood. The ASX200 on Wednesday had its biggest loss in more than a week and all share categories bar property were lower. Information technology shares fell most, by 2.13 per cent, following losses…

Qld approves $82m coal mine expansion

TOWNSVILLE, AAP – The Queensland government has approved an $82 million expansion of Stanmore’s Isaac Downs coal mine. The project near the central Queensland town of Moranbah, which will only produce metallurgical coal used in steelmaking, got the final nod on Tuesday night. Resource Minister Scott Stewart says the Isaac Downs East extension will produce…

Post-lockdown cash splash for Vic business

MELBOURNE, AAP – Victorian businesses hit hard by repeated coronavirus lockdowns are being given a $400 million helping hand. The joint state and federally-funded package announced on Wednesday includes $5000 grants for about 30,000 businesses hit by capacity limits under the current public health restrictions. Twenty-four sectors are eligible including gyms, cafes, restaurants, catering services…

CPI rises 0.8 per cent in June quarter

CANBERRA, AAP – CHANGES TO HOUSEHOLD INFLATION IN JUNE QUARTER: * Consumer Price Index – up 0.8 per cent in quarter (up 3.8 per cent annually) * Transport – up 2.8 per cent (up 10.7 per cent, due to higher fuel prices) * Health – up 1.5 per cent (up 4.8 per cent) * Furnishings,…

CommSec Daily Report Wednesday

Latest News Aussie shares are in retreat following the record highs reached on Tuesday’s session. The ASX 200 is towards intraday lows at lunch with the benchmark index down 33 points or 0.45% to 7,398. This follows losses on Wall Street as investors look for key earnings among mega cap tech companies and the outcome…

Asia shares sit at 2021 lows ahead of Fed

HONG KONG, RAW – Asian shares stayed stuck at seven-month lows on Wednesday, as markets continued to digest a storm in Chinese equity markets, while the dollar rested with traders reluctant to place large bets ahead of the outcome of the Federal Reserve meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.35 per…

ASX slips from record heights

SYDNEY, AAP – Shares have pulled back from record highs on the Australian market and a lockdown extension in NSW won’t help the short-term. The major categories of materials, financials and healthcare were all lower at 1200 AEST in a slight easing of trade. Technology shares fared worst, down 1.31 per cent. Millions of people…

Inflation blip

Inflation blip Consumer Price Index What happened? The main measure of inflation in Australia – the Consumer Price Index (CPI) – rose by 0.8 per cent in the June quarter (consensus: +0.7 per cent). The annual rate of growth lifted from 1.1 per cent to 3.8 per cent – the fastest pace since September quarter…