Stocks

“New realm” of economic woe for Australia says CEO

Australia’s property market is at risk of spiraling into a prolonged downward trajectory and may struggle to recover in the near future according to tech entrepreneur Matt Barrie, who said on Thursday that the economy has now entered a full on “crisis” phase as conditions become ever more challenging. The freelancer believes the weakened housing…

Ongoing US-China trade war sees oil prices drop

The current escalating trade wars between China and the US have seen a knock-on effect on many markets around the world, and it now seems that the latest round of retaliatory efforts have caused oil prices to drop. This is due in part to the clouded forecasts for demand over the next few months, which…

Australia to lead BP and Castrol shared services transformations

Australia is making the most of its name as a burgeoning country for developing transactional economies with blockchain, and oil companies BP and Castrol have now announced that they will be working on shared platforms in the nation. BP and Castrol’s shared services organization has selected Australia and New Zealand to shape the future of…

Drought damage revealed as grain forecasts drop 12%

The periods of heavy drought that rocked Eastern Australia this year have had their predicted effect, as the damage to crops and livestock has destroyed a sizable proportion of the total grain crop. Reports from ABARES, the government’s forecaster for commodities, show a year-on-year drop of 12% in winter grain production. In total, this year’s…

Tencent shares tumble as Chinese regulators ban Monster Hunter: World

Tencent shares tumbled on Tuesday after the internet group pulled popular video game Monster Hunter: World from its distribution platform, WeGame. The ruling by regulators is a blow to Tencent, which had been banking on the success of the action RPG to boost flagging PC sales in China.  The latest edition of Monster Hunter became…

Tesla enlists Goldman Sachs as private option gathers pace

Tesla CEO Elon Musk has confirmed that he has enlisted the services of Goldman Sachs and Silver Lake as he looks to press forward with plans to take Tesla private.  Following a statement on his blog early on Monday saying that he was approached by investors from the Saudi Arabia sovereign wealth fund as early…

Federal Reserve: Low inflation and job growth to stay

US Federal Reserve Chairman Jerome Powell was bullish in his assessment of current US finances yesterday, using his testimony to the Senate Banking Committee to suggest that the current state of affairs is playing out well for the country’s economy. While the dollar finds itself buoyant on the back of Powell’s comments, it seems that…

Bernstein analysts warn of oil price spike

US investment manager Sanford C. Bernstein & Co has warned that oil prices may increase past $150 a barrel if production shortfalls take hold. This concern relates to a perceived lack of investment in oil exploration, which Bernstein claims is a precursor to a spike in crude oil prices the likes of which the world…

Loss of risk appetite weakens dollar as interest rates remain unchanged

Australia woke up to a weakened dollar on Tuesday morning after world markets took a turn away from risk assets which are often grouped together with commodity currencies such as the Australian dollar. The drop was a result of traders taking positions prior to Tuesday’s Reserve Bank of Australia (RBA) statement on the interest cash…

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