The outlook for skyrocketing steel and timber prices
It’s a tough time to build or renovate a house in Australia. Prices are up, well above inflation. Finding materials and getting them on time is a challenge. Builders are grappling with too much work and stress (with some folding as costs rise too fast). Customers are being confronted with eye-watering price quotes. And as…
More people find jobs; even more looking for work
Labour force Employment rose by 33,500 in August after falling by 41,000 in July (consensus: +35,000). Full-time jobs rose by 58,800 while part-time jobs fell by 25,300. The unemployment rate rose from a 48-year low of 3.4 per cent to 3.5 per cent, the first increase in 10 months. To 2-decimal places the jobless rate…
Crude oil futures close higher
Crude oil futures closed higher Thursday in daytime trading on the Shanghai International Energy Exchange. The most active crude oil contract for November 2022 delivery was up 30.9 yuan (about 4.47 U.S. dollars) to close at 675.9 yuan a barrel. The total trading volume for ten listed crude oil futures contracts on the exchange was…
China to further improve business environment
China has rolled out new measures to optimize its business environment, aiming to ease current strains on small businesses and cement the foundations of economic recovery, according to a guideline unveiled on Thursday. The guideline, released by the General Office of the State Council, called for the full implementation of the country’s negative list system…
Wellness industry director convicted
Tatiana De Oliveira, also known as Tatiano De Oliveira, of Byron Bay, New South Wales, has been convicted of making a false or misleading statement to ASIC. Between 8 June 2018 to 21 August 2020, Mr De Oliveira was the sole director of Shiera Wellbeing Centre Pty Ltd (ACN 626 309 939), a Brisbane-based business…
CommSec morning report Friday
In US economic data, retail sales was up 0.3% in August after a 0.4% fall in July (survey: flat). Industrial production fell 0.2% in August (survey: +0.1%). Export prices fell 1.6% in August (survey: -1.2%). Import prices fell by 1.0% in August (survey: -1.2%). The Philadelphia Federal Reserve manufacturing index fell from +6.2 points to…
Evening report Thursday
Following an unemployment update and despite climbing by as much as 0.7 per cent earlier today, the local sharemarket finished on a more modest note, with the ASX 200 up by 0.21 per cent or 14.3 points, to 6842.9. Eight sectors (of 11) and roughly 60 per cent of stocks in the ASX 200 finished…
Mosaic Brands pays penalties
Mosaic Brands has paid $266,400 in penalties, after the ACCC issued two Infringement notices relating to alleged false or misleading representations made by Mosaic Brands in promoting a face mask on its Autograph Fashion brand website and a hot water bottle on its Katies brand website. On 18 August 2021, amid on-going public concern about…
China-Europe freight trains on the move
A demonstration area in east China for local economic and trade cooperation between China and the Shanghai Cooperation Organization (SCO) handled more China-Europe freight trains in the first eight months of 2022, local customs said. The demonstration area in the city of Qingdao, Shandong Province, saw 523 such freight trains in the period, up 46.1…
More International Tourists, More Often
Tourism across Victoria is in for a major boost, with the return of cruise ships and increased direct international flights. Minister for Tourism, Sport and Major Events Steve Dimopoulos today visited Station Pier in Port Melbourne to welcome 2,500 tourists aboard the Coral Princess – the first major cruise ship with passengers to dock in…
